CARSON CITY, Nev., Sept. 09, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) reaffirmed that the agreement with Argonaut Gold Inc. (TSE:AR) has been completed in both the US and Mexico. “Relinquishing control of the Julio/Martha Elena property to Argonaut has allowed Mexus to focus on its other properties and ventures,” added CEO Paul Thompson. The company is currently reviewing all of its Mexican properties and is considering offers to do a Joint Venture similar to the deal at the Santa Elena/Julio.
Mexus reiterated that the company has an agreement with North Pacific Gold concerning cable recovery in Alaskan waters. North Pacific has been researching the location of the cable and the most economical recovery methods. In addition, preliminary work has begun on the various legal issues surrounding the recovery of this cable. The agreement has Mexus receiving 11% of the Net Smelter Return. The target cable is currently selling for approximately $9 USD per foot and the resource is estimated to be in the thousands of mile range. As previously shown, Mexus’ cable recovery equipment is capable of pulling one foot per second from the ocean floor. North Pacific plans to use its sophisticated under water magnetometer and sensor equipment to locate and map target areas.
CEO Thompson concluded, “Our goal is to have multiple deals in place providing multiple revenue streams for the company. A diversified income base would provide a stable and profitable outlook for the company for years to come.”
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. In July 2015, Mexus and Argonaut Gold Inc. (TSE:AR) entered into a joint venture option agreement for this property. 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 2015. 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.
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Source:Mexus Gold US