mxgold-sss

MX GOLD CORP. CONTINUES TO EARN INTEREST IN DURANGO SMELTER PROJECT IN MEXICO

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2017-04-28 20:18 ET – News Release

Mr. Dan Omeniuk reports

MX GOLD CORP. CONTINUES TO EARN INTEREST IN DURANGO SMELTER PROJECT IN MEXICO

Further to the Feb. 13, 2017, news release, MX Gold Corp. has paid an additional $425,000 (U.S.) to American Metal Mining SA de CV as required under the option agreement dated Feb. 6, 2017, as amended. To date, the company has paid $1,075,000 (U.S.) of the $1,525,000 (U.S.) total amount required to acquire 50 per cent of the shares of a private Mexican corporation that holds the IDS project. As stated in the Feb. 13 news release, the IDS project consists of a past-producing gold smelter, three acres of land situated around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment, the company was granted a 49.5-per-cent net profit participating interest in the IDS project that will remain until option exercise, provided that all payments are made by the company in accordance with the amended option agreement.

The company also announces that it has granted 5.75 million stock options to its directors and executive officers and 3.25 million to consultants for the purchase of up to an aggregate nine million common shares of the company, pursuant to its stock option plan, at a price of 13 cents per common share. Common shares issuable under the exercise of stock options held by directors and officers of the company will be subject to an exchange hold period of four months and one day from the date of grant of the stock options.

Each option granted to directors, executive officers and certain consultants is exercisable for a period of five years. These stock options vest as follows: (i) 25 per cent vests immediately, (ii) 25 per cent vests after three months, (iii) 25 per cent vests after six months and (iv) 25 per cent vests after nine months.

About MX Gold Corp.

MX Gold is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The company’s primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometres south of Silverton, B.C. In 2015, MX Gold completed the accretive acquisition of the Willa project and the Max Molybdenum mine and mill complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometres south of the Max mill. MX Gold can also elect to reopen the Max molybdenum mining operation once world moly prices improve.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

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Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

 

 

 

 

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