CARSON CITY, Nev., July 12, 2010 (GLOBE NEWSWIRE) -- Mexus Gold U.S. (OTCBB:MXSG) is pleased to announce the signing of a contract with Powercom Services, Inc., a Georgia company, to provide the necessary capital so Mexus can proceed with the first phase of its Cable Recovery in Alaskan waters.
Mexus President/CEO Paul Thompson along with Ken Setter, the person in charge of the Alaska sub-marine cable project for Mexus, just returned from two weeks of intense fruitful meetings and verifications of cable locations in Alaska waters culminating in the execution of the contract which will fund Mexus through its first barge load sale of cable.
Mr. Paul Thompson, CEO Mexus Gold stated, "Ken Setter was able to direct us to several sites along the Pacific Coast of Alaska where we were able to identify the sub-marine cable. We were able to retrieve several sections for sampling purposes, and to test Mexus' new innovative way of retrieving cable from the bottom of the ocean. We believe the new cable pulling equipment will have the capability of pulling up to 10 miles per day or 475,200 lbs. per day. The cable is composed of copper, lead, and steel, all salvageable for scrap sales or processing for end user. Mexus is now ready to start equipping its 260' barge located in Seattle, WA with pulling equipment for the trip to Alaska where it will be able to start pulling cable at a point identified and marked by Setter and Thompson on their recent trip.
Mr. Thompson went on to state, "Our objective is to be pulling cable by mid August and begin delivery prior to the end of September. I want to thank our loyal and faithful shareholders for their continued support of our cable and mining endeavors as we have achieved another milestone in our young company's history."
About Mexus Gold U.S. (OTCBB:MXSG) is a mining company engaged in the evaluation, acquisition, exploration, salvage and recovery of gold, silver and copper projects in the State of Sonora, Mexico, the Western United States, Alaska. Mexus Gold U.S. is dedicated to protecting the environment, providing employment and education opportunities for the communities where they operate. For further information see www.mexusgoldus.com or download our corporate profile at: http://premierstocks.tv/images/company_links/mexus.pdf
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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.