Magellan Gold Acquires Five Idaho Properties from Gold Express Mines

Rhea-AI Summary

Magellan Gold Corporation (OTC PINK:MAGE) announced the acquisition of five mining properties in Idaho from Gold Express Mines. The new properties, located across various counties, are at different stages of exploration and development. This strategic move is backed by experienced mining executives Mr. Howard Crosby and Mr. John Ryan, who join Magellan's board and advisory roles, respectively. Their history in founding several successful mining companies is expected to bolster Magellan's operations and exploration efforts. The CEO, Mike Lavigne, expressed optimism about the potential of these properties and the expertise of the new team members.

Positive

• Acquired five new properties in Idaho, enhancing exploration capacity.
• Involvement of experienced mining executives Crosby and Ryan.
• Potential for significant future development in Idaho mining sector.

Negative

• None.

Experienced mining executives join forces with Magellan Gold to further exploration and development of Idaho properties portfolio

WALLACE, ID / ACCESSWIRE / March 30, 2023 / Magellan Gold Corporation (OTC PINK:MAGE) ("Magellan" or the "Company"), is pleased to announce that the company has teamed with the experienced management team at Gold Express mines and has purchased five new properties located within the State of Idaho. The five properties are in various stages of exploration and development and are located in: Idaho County, Custer County, Shoshone County and Lemhi County.

Mr. Howard Crosby will be joining the board of directors of Magellan Gold Corporation and Mr. John Ryan will be joining the Company's Advisory Board. Mr. Crosby and Mr. Ryan have been business partners for twenty-five years with a focus on natural resource companies. The two entrepreneurs have founded, developed, and grown multiple successful companies from start-up phase to public listings, strategic buyouts, and/or asset sales. Notably the two were founders of US Silver Corporation which acquired the Galena Mine in the Coeur d' Alene Mining District from Coeur d' Alene Mines in 2006 and were founders or co-founders and/or held various positions with White Mountain Titanium, Bunker Hill Mining Corp., Cadence Resources Corporation, High Plains Uranium, Western Goldfields, Inc., and Metalline Mining Company among others.

The newly acquired properties fit perfectly with the Company's focus to acquire, explore, and develop early to mid-stage exploration targets or near-term production plays. The Company continues to remain focused in the State of Idaho and to leverage current managements many years of experience in the mining industry in the state. In the near future the Company will be speaking more specifically about each of the new property acquisitions, and we look forward to updating our current shareholders and the investing public about these new acquisitions and our Center Star Mine project as well.

Mike Lavigne, the CEO of Magellan Gold Corporation stated, "We are pleased to announce the acquisition of this new group of Idaho based properties". He added, "Having Mr. Crosby and Mr. Ryan with their many years of experience and success in the resource sector and specifically in the State of Idaho is an incredible asset for Magellan Gold Corporation and their shareholders".

New Magellan Gold Corporation Director, Mr. Howard Crosby said, "We are excited to be teaming with Magellan Gold to help move the exploration and development of these properties forward". He went on to say, "We believe that each of these unique properties provide significant opportunity for future exploration development".

About Magellan Gold Corporation

Magellan Gold Corporation (MAGE) is focused on the exploration and development of precious metals in North America and more specifically the Western United States. Magellan controls six projects: The Center Star Gold Mine, Golden, Idaho Project, Seafoam District, Blacktail District, Bit-It Project, and Terror Gulch (Capparelli Group), all located within the State of Idaho.

To learn more about Magellan Gold Corporation, visit www.magellangoldcorp.com.

About Gold Express Mines, Inc.

Gold Express Mines is a US-based, multi-commodity mining company focused on the discovery, development and production of precious and base metal assets and focused on historic mining districts and other known mineralized areas. Gold Express Mines prioritizes sustainability in its operations. We will utilize best practices to ensure that the economic, social and environmental impacts of our projects are in harmony with the goals and desires of the local towns, regions, and indigenous organizations where we operate. Our aim is to be a part of a new era of low-impact, socially responsible mining which provides an abundance of newly mined metals critical to our nation's security, economic growth, and reduction of carbon dioxide emissions.

Cautionary Statement

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves. Currently we have not delineated "reserves" on any of our properties. We cannot be certain that any deposits at our properties will ever be confirmed or converted into SEC Industry Guide 7 compliant "reserves." Investors are cautioned not to assume that all or any part of any "resource" estimates will ever be confirmed or converted into reserves or that they can be economically or legally extracted.

Forward Looking Statements

This release contains "forward-looking statements." Such statements are based on good faith assumptions that Magellan Gold Corporation believes are reasonable but which are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Factors that could cause actual results to differ from those anticipated are discussed in Magellan Gold Corporation's periodic filings with the Securities and Exchange Commission.

Contacts:
Magellan Gold Corporation
Mike Lavigne, CEO
mblavigne@magellangoldcorp.com

SOURCE: Magellan Gold Corp.

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FAQ

What properties did Magellan Gold acquire from Gold Express Mines?

Magellan Gold acquired five properties located in Idaho, which are at various stages of exploration and development.

Who are the new executives joining Magellan Gold?

Mr. Howard Crosby joins the board, and Mr. John Ryan joins the advisory board, both with extensive experience in the mining industry.

What is the strategic importance of these acquisitions for MAGE?

The acquisitions align with Magellan's focus on acquiring and developing early to mid-stage exploration targets in Idaho, aiming for future production.

How will these new properties impact Magellan Gold's operations?

The new properties are expected to enhance exploration efforts and leverage the expertise of the new management team to improve operational success.

What is Magellan Gold's focus moving forward?

Magellan Gold will continue to explore and develop its Idaho properties and will provide updates on their new acquisitions and other projects.