Mexus gives a mine update, discusses audit and releases info on JV partner
CARSON CITY, Nev., Aug. 01, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) is pleased to announce that its 10k annual audit was completed and submitted last week. The delay in presenting the audit resulted from a new auditor having to review the previous 3 years. The auditor was happy with their findings which should lend support that all of the financials, as previously reported, are correct and accurate.
Work at the Santa Elena mine continues as planned. The decision to enlarge the heap leach pad has made phase 1 of construction take longer than expected. Marco Martinez, President of MarMar, states that the time involved to build out the infrastructure is well worth the delay when you consider our ultimate goal of having an operable mine for the next 25+ years. Mexus had initially planned to start with a 10,000 ton pad. MarMar decided to increase the size with the pad now being able to handle 250,000 tons. Finally, the work done to date has brought the company to a point where 24 hour security is needed at the mine. A firm has been hired and round the clock security is now in place.
MarMar’s expert team of geologist, engineers, accountants and team of lawyers continue to meet and exceed the standards expected when Mexus brought them in as a partner. The work being done at the mine is being reviewed constantly to ensure compliance with all laws and regulations. Added CEO Paul Thompson, “Marco Martinez, CEO of MarMar, has been excellent to deal with. He has followed through on everything we’ve asked and been spot on with his recommendations and follow through. I’ve heard our shareholder base loud and clear when they asked for a history of MarMar and Mr. Martinez. You’ll find this write up on our website with a link to the report below. I hope this confirms to our shareholders that we have found an excellent partner who will bring this mine into production in a timely manner and at a low cost.”
Link to MarMar report
Link to Photos
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. 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.
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