CARSON CITY, Nev., Aug. 19, 2014 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company") announced today that it has reached a tentative agreement with a driller to operate the companies two track mounted core drills. The initial agreement is to produce 2500ft of core drills. The results of these core samples will give engineers the information needed to lay out a reverse circulation program. The reverse circulation operation will include 30,000ft of drilling to a depth of 300ft.
Along with Geologist Cesar Lemas report (Cesar Lemas Report) and the data gained by drilling the quartz veins and the adjacent shear zones, we hope to prove a 500,000oz gold reserve with little over burden.
CEO Paul Thompson stated, "I've met with a mine engineering firm and they are preparing a drill program for us. This is just a start for Mexus and will give us a stronger position when dealing with potential partners."
Mr. Thompson added, "I had a meeting with a group in Arizona this weekend who are very interested in partnering with Mexus. We've been in discussions with this group for quite some time and I'm now hopeful a deal can get done in the near future."
San Felix Sale Update
Mexus recently received an update from Benjamin Lagarda. Mr. Lagarda assures Mexus that the project is going as planned and 2015 will be a good year for them and Mexus. CEO Thompson added, "I'm comfortable with what Mr. Lagarda has done to date and look forward to seeing their project progress."
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. This 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. The company looks to have this property in full production by the end of 2014. 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.