CARSON CITY, Nev., July 23, 2014 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company")
The company announced today that it is still in negotiations with two separate parties for funding of the Julio/Santa Elena projects. CEO Paul Thompson added, "We believe that our property has a 1 million ounce gold potential. Given that, we are being very careful when considering our options. I appreciate the continued support of our shareholder base and ask for patience during this time. I'm optimistic that we will work something out. We have the property, there is gold, and we have our permits which makes us an attractive partner. That being said, I won't give away the property."
The company is also seeking a qualified person to explore additional financing possibilities. Mr Thompson added, "Even though I believe that one of the deals mentioned will get done, we will continue to keep all of our options open."
Finally, the company is expecting payment from a current debtor that will help complete the move of the placer. The company is in the process of moving equipment and hopes to have the placer operational within the next 30 to 45 days.
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. This property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. The company looks to have this property in full production by the end of 2014. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Forward looking Statement: Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
CONTACT: Mexus Gold US Inquiries Paul Dent, 425-478-4908 firstname.lastname@example.org
Source:Mexus Gold US