CARSON CITY, Nev., Aug. 8, 2011 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) is a company engaged in the evaluation, acquisition, exploration and development of mining properties and conducts salvage operations for the recovery of precious metals.
Mexus Gold US is pleased to announce current events regarding our cable salvage project. The cable salvage project is designed to conduct operations for the purpose of retrieving certain communication cable, which contains a significant amount of cooper. At this time, Mexus Gold US has focused the salvage operation on the cable deployed in the offshore waters of northwestern United States. The following is an update to the status of the operations conducted thus far.
The Mexus Gold US tug, "Caleb" has now arrived in Ketchikan, Alaska ready to commence salvage operations. Bryan Farcey, Captain of the Caleb, said the voyage from the tug's home port in Washington to Ketchikan went well and salvage operations are expected to begin this week. The tug brought along a barge with onboard cable salvage equipment and a resonance vessel with associated equipment. The resonance vessel and associated equipment will be off loaded and travel further north to begin surveys in areas of known interest while the tug and ancillary equipment will begin salvage operations nearby.
Mexus Gold US, President, Paul Thompson stated, "It has taken a bit of time we did not originally anticipate. We are now in Alaska. We are now equipped like we should be for this operation. We are now ready to go forward with putting cable on the deck of the barge. We expect this to be a five year project so we wanted to get started in the best manner possible."
About Mexus Gold US (OTCQB: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 US 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, visit www.mexusgoldus.com.
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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.