CABORCA, Mexico, May 01, 2017 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) has noted through communications from a few of its shareholders that it appears there are numerous misleading and undocumented statements which have been made in various forms of media. The Company realizes in today’s environment statements such as these are easily published without sufficient supporting documentation and data and may be made with the intent to influence our shareholders in a negative manner. It is important to note our goal has been to maintain the conduct of our business in high standards and ethically communicate those actions to our shareholders. The following is a summary of the Santa Elena project in Mexico:
- Our JV partner at the Santa Elena project has been producing gold since early April and performed its first smelting of dore April 22 which represents the first of many more to come.
- Pad 1 is still producing gold back to the pregnant pond and it is expected that this will continue for about two more weeks. Mineralized material is being placed on Pad 2 and will be ready to leach once the initial soak of Pad 1 is complete. Both ponds at the Santa Elena project were calculated to hold approximately 793,000 gallons with the gold laden pregnant pond being 30% full and the makeup pond being 75% full.
- The Merrill Crowe plant is currently running at 35% and is increasing weekly. Mine manager Regino Vargas feels it’s better to increase slowly so money and material are not wasted.
- Mexus’ contract with the land owners at the Santa Elena project allows for usage rights to the water well. Mexus was informed that the permit is for agricultural use only. In addition, the permit as it stands now does not provide for enough water. Marco Martinez, President of MarMar Holdings and Mexus’ partner at the Santa Elena project, states that the solution is to buy water rights from other well owners. If necessary, the water will be trucked in using the company owned 4500 gallon water truck which will solve any water concerns in the short term. This is a minor issue as it is expected that the project will use approximately 10,000 gallons a week at full evaporation. Mr. Martinez goes on to state that he is attending to the current water well use permit and will seek a reclassification.
- Mr. Martinez will hold those liable for damages caused by these misleading statements.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/Attachm...d53625655c
http://www.globenewswire.com/NewsRoom/Attachm...2d27ac7ebd
“Mexus has and will continue to abide by our contracts giving us full rights to mine at the Santa Elena project. Any statements to the contrary are false and misleading,” added Mexus CEO Paul Thompson.
Progress at the San Felix mine continues as planned. The mining plan is moving forward with geological engineers and a group of mining professionals working daily. They continue to prepare equipment needed for full operation which is expected to occur by the end of the year. Attached are photos of a 600kvw and 750kvw generators being readied to cross the border this week.
See new photos added to website.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. Mexus recently joint ventured its flagship property with MarMar holdings of Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. The mine is producing gold. The company is also a partner with MarMar holdings at the San Felix mine in Northern Mexico. This 26,000 + acre property is ready for production which is planned for 2018. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. 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 .
Cautionary Statement
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: Inquiries - Paul Dent, 425-478-4908 pdent@mexusgoldus.com
