CARSON CITY, Nev., Nov. 12, 2012 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.
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Mexus Gold US is pleased to announce that on November 1, 2012, Mexus Gold US and Mexus Enterprise S.A. de C.V., a subsidiary wholly owned by Mexus Gold Mining S.A. de C.V., entered into a Joint Venture Agreement, for a term of fifty years, with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. on certain mining concessions, a part of which are currently in the extraction and commercialization of minerals, located about 100 km southwest of the Municipality of Caborca, Sonora, Mexico. Mexus will serve as operator and receive 60% ownership and net revenue participation from the concession presently under production and extraction operation and in the concessions, leasing rights, environmental authorizations including all of the assets situated on the remaining lands.
The Joint Venture assets consist of 18 concessions located on and around 650 hectares, a 14 hector leach pad with a 2,000 gallon per minute Merrill crow recovery plant. All necessary smelting and lab support equipment, the mining equipment and the processing plant rated at 6,000 tons per day are located on the property and ready. The Joint Venture plans to restart the leaching recovery process on a leach pad that presently has approximately 2,600,000 tons of productive ore in place. President Paul Thompson states that "we are very excited about the future of the Joint Venture which has 108 employees including mining engineers, metallurgists, geologists, lab techs, smelters, equipment operators, and security guards and generated strong revenues over the past three years. The opportunity to enter into this operation presented itself to us and after studying the supporting data and evaluating all of the circumstances surrounding the project we gave the go ahead for our legal advisor to move forward and now here we are."
About Mexus Gold US
Mexus Gold US (OTCQB:MXSG) is a company engaged in the mining industry for the purpose of producing precious metals, including gold, silver and copper, from its projects located in the state of Sonora, Mexico and in the states of Nevada and Alaska. Mexus Gold US is dedicated to protecting the environment, providing employment and education opportunities for the communities where they operate. For further information or to see the full report, visit www.mexusgoldus.com.
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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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CONTACT: Paul Thompson CEO/President (775) 721-9960 or (916) 776-1822 Mexusgoldus@aol.com
Source:Mexus Gold US