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GOLDCORP'S McPherson joins MX Gold as President and COO

  • Mine Manager of Goldcorp’s Peñasquito Mine (2nd largest mine in Mexico), having 1400 employees reporting to him
  • Former VP/GM of Kinross’ Tasiast Mine in Mauritania
  • Mine Manager of Barrick Gold’s Alto Chicama Project in Peru

VANCOUVER, British Columbia, June 28, 2016 (GLOBE NEWSWIRE) -- MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:DTVMF) (the “Company” or “MX Gold”) is pleased to announce that Hugh (Bert) McPherson has joined the Company as President and Chief Operating Officer in charge of all operations at the Company’s Max and Willa mining and milling operation located in the Kootenay region of British Columbia. Along with the responsibility of managing the operations, Mr. McPherson will be involved in the evaluation and acquisition of future projects.

Mr. McPherson stated, “After months of project due-diligence and a site visit, I am excited to join the team and advance the Willa Property to the next level. I will look forward to developing safe and efficient mining programs along with a first class production team.”

Bert McPherson is a Sr. Mining Engineer and has 37 years’ experience in managing projects for major mining companies. Bert holds a B.Sc. Applied Science in Mine Engineering from Queen’s University and is a Registered Professional Engineer in the province of British Columbia. He has successfully added value to mine management teams worldwide, focusing on the implementation of industry leading mine management standards, safety awareness, team building, assembly, mentoring and the development of functional mine management operations.

Bert McPherson has most recently been the Mine Manager of Goldcorp’s Peñasquito Mine in Mexico having over 1400 employees directly reporting to his office. The Peñasquito mine is Mexico's second largest mine and it's largest gold producer. In 2015, The Peñasquito Mine delivered record gold production of 860,300 ounces and record silver production of 25,926,600 ounces. A total gold equivalent production figure, including by-product metals, was 1,688,600 ounces of gold.

Previously, Bert held the following positions with the following projects: Vice President & General Manager for Kinross Gold Corporation at the Tasiast mine, in Mauritania; Mine Manager at Barrick Gold Corporation’s Pierina Mine, in Huaraz, Peru; Mine Manager of Barrick Gold’s Alto Chicama project in northern Peru; Chief operating officer for Starcore International Mines, San Martin Mine in Mexico; Mine manager at XStrata Copper’s Alumbrera Mine in northern Argentina; and Project/Mine Manager, Morrison Knudson Venezuela at their Carbones de la Guajira coal mine in Venezuela. Mr. McPherson has also provided Mine Management Consultation services to several other mining projects worldwide under HC McPherson Consulting Inc.

“After a two-year search for a President and COO with the skill set to advance the Willa/Max project, we are very excited to have Bert join MX Gold Corp.,” said Akash Patel, “…and we are looking forward to many years of strong growth with Bert leading our operations.”

After a number of years of service with MX Gold, Akash Patel has stepped down as President and has been appointed as Vice President, Corporate Affairs. Mr. Patel will maintain his position on the board of directors. The Company wishes to thank Mr. Patel for his work as President of MX Gold in the development of the Willa/Max project.

Mr. McPherson was appointed President and Chief Operating Officer on June 27, 2016. Effective September 1, 2016, the Company has agreed to pay Mr. McPherson a base salary of $180,000 per year. The Company has also agreed to grant him 1,000,000 stock options at the exercise price of $0.25 per share with 250,000 options vesting on each of the following dates: December 1, 2016, June 1, 2017, December 1, 2017 and June 1, 2018. In addition to the base salary, the Company has agreed to pay Mr. McPherson $100,000 on or before February 28, 2017 to reimburse Mr. McPherson for certain costs incurred by him as a result of his new appointment. Lastly, the Company has agreed to vest any outstanding stock options and pay Mr. McPherson an amount equal to two times his base salary in the event there is a change of control of the Company.

About MX Gold Corp.

MX Gold Corp is a junior mining company focused on the mining, exploration and development of advanced projects located in the Kootenay region of British Columbia. The Company's primary focus is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, BC. MX Gold Corp owns 100% of the Willa Project and the Max Molybdenum Mine and Mill Complex. The Max is a fully permitted 1000 ton per day mill and tailings facility, with major federal and provincial permits in place. The Willa mine is located 135 kilometers south of the Max Mill.

On behalf of the Board of Directors,

“Akash Patel”

For further information, please contact

SkanderBeg Capital Advisors
604-687-7130
Ext 104 or Ext 105

Dan Omeniuk
Phone: 204-697-7740
Email: dano@trapperstransport.com

Ron Birch
Phone: 250-545-0383
Toll Free: 1-800-910-7711
Fax: 604-926-4232

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of MX Gold Corp, such as statements regarding the terms of the debt settlement. There are numerous risks and uncertainties that could cause actual results and MX Gold’s plans and objectives to differ materially from those expressed in the forward-looking information, including approval from the TSX Venture Exchange. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, MX Gold Corp does not intend to update these forward-looking statements.

For further information, please contact Ron Birch: 250-545-0383 or by email at info@mxgoldcorp.com

Source: MX Gold Corp.