CARSON CITY, Nev., Oct. 19, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”), President/CEO Paul Thompson today announced that Argonaut Gold (TSE:AR) has been granted a permit by SEMPRAS to begin drilling at the Julio/Martha Elena property. Argonaut has contracted with Mexus to build roads and drill pads as necessary. The company began this work on October 16th. Added CEO Thompson, “I feel as if Argonaut is ahead of schedule and am pleased with the progress to date.”
The Julio/Martha Elena property is located on the same trend as the La Herradura mine which is one of the largest open pit mines in the world. “I’m extremely confident that Argonaut’s drill results will confirm what our own geologists had found. These initial drill results should be released later this quarter and I fully expect Argonaut to exercise its extension of the option into next year. Our company has a great partner to move forward with and we are just beginning to unlock the true value of this property and others that we control,” said Paul Thompson.
Mr. Thompson closed, “I think history will show that the current share price is extremely undervalued. My hope is that this news and future press releases will allow everyone to see what the true value of this company is.”
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. In July 2015, Mexus and Argonaut Gold Inc. (TSE:AR) entered into a joint venture option agreement for this property. 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
