MONTREAL, QUEBEC -- (Marketwire) -- 01/12/11 -- Maya Gold & Silver Inc. ('Maya' or the 'Company') (TSX VENTURE: MYA) is pleased to announce that an experienced Due Diligence Team ('Team') for the potential acquisitions, has been assembled and will undertake the onsite visit on six properties tomorrow. As previously announced, Maya signed five agreements in principle regarding possible acquisition of six projects in Morocco (see press release of December 9, 2010). The due diligence is an essential part of the Company's acquisition process.
The team will be under the authority of Maya Development Committee ('Commitee') formed by Mr. Rejean Gosselin and Mr. Mackenzie I. Watson who will be supported by Collison and Associates Geoscience Consulting, an independent Toronto based firm. In December, the Committee has assembled a highly qualified expert team and has also retained SGS Geostat Canada Inc., part of SGS Minerals Services to provide technical expertise. The multidisciplinary team will provide evaluation reports to the Committee in determining whether transactions should be completed.
The team consists of the following consulting firms and individuals all Qualified Person under NI43-101:
SGS Minerals Services is the market leader in bankable metallurgical testing and process control. They provide exploration, mineral processing, hydrometallurgical, mineralogical, in-plant consulting/optimization, technical reports (43-101 & JORC), outsourcing and environmental services to the global mining community. SGS is certified to the ISO/IEC 17025 standard for specific analytical, environmental and diamond tests, and provide data that stands up to legal and financial scrutiny.
Collison and Associates Geoscience Consulting is an independent Toronto-based consulting firm providing management consulting and technical expertise to the mining industry and global investors.
Mr. Michael Collison, P.Geo. is the Principal Consultant at Collison and Associates Geoscience Consulting. Mr. Collison has over 20 years experience in all facets of the mining industry from grassroots exploration through mine development to production and closure. Mr. Collison has a Master of Science (Geology) degree from the University of Western Ontario, an MBA from Queen's University, and is a member of the Association of Professional Geoscientists of Ontario.
Mr. Jean Laforest P.Eng. will be responsible for supervising on-site data collection and sampling. Mr. Laforest has over 20 years experience in mineral exploration for various commodities on all five continents for both major and junior companies. He is a graduate in Geological Engineering from Laval University, and is a member of the Ordre des Ingenieurs du Quebec.
Mr. Andre Ciesielski, DSc., P.Geo. a highly experienced structural geologist with more than 30 years of experience. Mr. Ciesielski was involved in all phases of mining exploration mainly for silver, gold, base metals and uranium and held senior exploration and management positions with multinational companies and junior mining companies.
Mr. Normand Goulet, Ph.D., P.Geo., is a professor of the Earth Sciences at Universite du Quebec a Montreal and has over 30 years experience as leader of geological teams for the Minister of Natural Resources of Quebec, Geological Survey of Canada, mining companies in Canada or overseas (Western Africa, Maghreb, South and North America, Europe, Australia, Asia) or as geologist in charge of projects of research or as consultant.
The team will be assisted by Moroccan experts to complete due diligence activities and will remain onsite for a two week period and after which more information will be released as details become available.
ABOUT MAYA
Maya Gold & Silver Inc. is a Canadian Mining Company, is focused on the exploration and development of gold and silver deposits and listed on the TSX Venture. The Company is committed to developing and adding value to its primary property, Amizmiz gold and silver project in Morocco.
For further information on Maya visit www.mayagoldsilver.com
Forward-looking statements
Except for statements of historical fact, all statements in this news release, without limitation regarding new project acquisitions future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Maya Gold & Silver Inc.
Guy Goulet
President and Chief Executive Officer
450-435-0700 ext. 204
ggoulet@mayagoldsilver.com
