CARSON CITY, Nev., Dec. 29, 2010 (GLOBE NEWSWIRE) -- Mexus Gold U.S. (OTCBB:MXSG), a mining company engaged in the evaluation, acquisition, exploration, salvage and recovery of gold, silver and copper projects today provided an update and outlined its corporate strategy in an open letter to shareholders from Company CEO, Paul Thompson.
Mr. Paul Thompson, CEO stated, "This has been a tremendous growth year for Mexus Gold U.S., I am happy to offer our shareholders this update on our company progress. I am very proud of the progress made on our multiple mining concessions and the cable recovery salvage project in Alaska and western coast of the United States. We have seen a lot of hard work from the people associated with Mexus Gold U.S. that contributed to our successful year in 2010".
Dear Shareholders:
I am pleased to write you about our business success over the past twelve months.
This letter is intended to update you on the overall progress the Company has made in 2010 and specifically the progress that we have made on the development of our Alaska Cable project, acquisition of mining opportunities, placement and purchase of mining equipment, a tug boat, barge and the addition of key people providing services to put these projects on a path to success.
This past year marked growth of Mexus Gold U.S. with many significant milestones having been met. It was a year during which we secured the financing we needed in order to purchase a tug boat and barge, build and install an important piece of Automated Cable Pulling equipment on the barge and conduct test operations offshore Alaska. The accomplishments of 2010 position us very well for 2011 in our cable salvage and mining opportunities.
During 2010, we achieved the following milestones:
January 2010 - Mexus Gold U.S. acquired the rights to salvage submarine cable from Universal Systems, Inc.
Monday, April 12, 2010 - Mexus Gold U.S. to Commence Recovery Operations of cable,
Monday, July 12, 2010 - Mexus Gold Enters Into Contract to Fund Cable Recovery with Power 3 Com
Monday, July 19, 2010 - Mexus Gold U.S. Announces Company Executed Agreement to Process Mineralized Material From the 8 Brother's Mine
Tuesday, August 31, 2010 - Mexus Gold Contracts to purchase Tug, Barge, and Hires Operator to Advance Cable Project
Tuesday, September 14, 2010 - Mexus Gold U.S. Releases NI 43-101 Technical Report on the El Scorpio Project Guadalupe De Ures Property Sonora, Mexico
Monday, September 27, 2010 - Mexus Gold U.S. Moves ACP Equipment to Begin Operation on Cable Project
Wednesday, October 20, 2010 - Mexus Gold U.S. Phase I Drilling Finalized for U.S. Operations Esmeralda County, Nevada
Friday, October 29, 2010 - Mexus tugboat "Caleb" and its 230 foot barge arrived in Ketchikan, Alaska.
Tuesday, November 2, 2010 - Mexus Gold U.S. Announces Operating Equipment Arrives at Ketchikan, Alaska
Thursday, November 18, 2010 -- Mexus Gold U.S. Announced Successful Alaska Cable Pulling Operations results of its recent cable pulling operations in Alaska were successful. The tug and barge are fully equipped with automated cable pulling and underwater electrical equipment, magnetometer, underwater cable identifier, remote cameras and a high definition scanning sensor, and a cable left buoy marking system.
Thursday, December 16, 2010 - Mexus Gold U.S. Announced Operating Equipment Arrives at Ocho Hermanos Mine in Hermosillo, Mexico. The Ocho Hermanos mine located in northern Mexico and owned by Mexus Gold U.S., Mexico Division, Mexus Gold S.A. de C.V. is now ready to enter into production operations with the arrival of equipment provided by Mexus Gold U.S. The transport and installation process of this equipment is very important to the Company. It demonstrates our commitment to our projects in Mexico and our ability to provide the means to make this type of project move forward. Our permitting process is going well with all of the paperwork required to initiate operations completed and filed with the appropriate authorities. In addition, we were encouraged by our ongoing drilling program in such a manner that we felt we could move forward into the initial production stage of developing the Ocho Hermanos project.
As you can see, we expect 2011 to be an exciting year for your Company and we look forward to reporting our progress throughout the year to all our shareholders. For complete press release information please visit our website under the investor tab for all up to date information www.mexusgoldus.com
About Mexus Gold U.S. (OTCBB:MXSG) is a company engaged in the mining industry for the purpose of producing precious metals, including gold, silver and copper, from its projects located in the state of Sonora, Mexico and in the states of Nevada and 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 or to see the full report, www.mexusgoldus.com, or for more detailed Investor Information please visit:
http://www.premierstocks.tv/images/company_links/mexus.pdf
To view progress video of the Cable Recovery Project please visit:
http://www.premierstocks.tv/index.php?option=com_content&view=article&id=242:mxsg
The Mexus Gold U.S. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7718
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.