CARSON CITY, Nev., Sept. 14, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”), Mexus president Paul Thompson recently returned from Caborca, Sonora State, Mexico where he met with Julio Baltazar, Vice President of Mexus Gold Mining SA de CV. Mr. Thompson and Mr. Baltazar discussed the Santa Elena/Julio project and reviewed the equipment currently sitting idle on the property. Both are extremely happy with the progress at the Julio/Santa Elena property. A general valuation was made and the equipment was determined to be worth approximately $500,000. The recent agreement with Argonaut Gold (TSE:AR) has eliminated the need for the production equipment used in mining and thus it was decided that liquidation would be the best option. Equipment needed for exploration will be retained. The much needed cash infusion will be used to further Mexus’ other projects and properties.
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. The 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. 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