Mexus Signs LOI for its Mabel Property; Gold Production Continues at its Santa Elena Mine

Rhea-AI Summary

Mexus Gold US (OTC PINK:MXSG) has signed a letter of intent with Irmex Mining for its Mabel project in Northern Mexico, involving cash payments and a 10% Net Profit Interest. The Mabel property encompasses 1,459 hectares. Additionally, the company is set to ship activated carbon from its Santa Elena mine, with leaching grades averaging 0.66 oz Au. CEO Paul Thompson expressed optimism about securing a joint venture partner for the Santa Elena project, aiming for a potential 1,000,000+ ounce gold resource.

Positive

• Signed letter of intent with Irmex Mining for the Mabel project, enhancing future revenue potential.
• Activated carbon shipment from Santa Elena mine indicates ongoing operational progress.
• Leaching circuit improvements are expected to boost gold recovery rates.

Negative

• None.

CABORCA, MEXICO, ACCESSWIRE / January 3, 2022 / Mexus Gold US (OTC PINK:MXSG) ("Mexus" or the "Company) announced that it has signed a letter of intent with Irmex Mining, a Mexican Corporation, for its Mabel project located in Northern Mexico. The agreement will include cash and a 10% Net Profit Interest (NPI). The Mabel property consists of 8 concessions and totals 1,459 hectares. "We've been in discussions with Irmex for quite some time and are thrilled that they are now involved to move the Mabel property forward." added Mexus CEO, Paul Thompson.

The company also announced that it is scheduled to ship activated carbon from production at its Santa Elena mine to a U.S. refiner during the first week of January. Leaching continues at the property with grades running from .39 oz to .72 oz Au with an average of .66 oz Au returning to the pregnant pond. Mexus' recent improvements of the leaching circuit should result in a steadier production schedule and increased recoveries.

Mr. Thompson added, "The signing of an agreement for the Mabel property allows us to turn our focus to finding the right JV partner for the Santa Elena project and to confirm what is believed to be a potential 1,000,000 plus ounce gold resource. I wish everyone a Happy New Year and am excited for what 2022 holds for Mexus and its shareholders."

About Mexus Gold US

Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. 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.

Mexus Gold US (775) 721-9960. Paul Thompson Sr

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.

SOURCE: Mexus Gold US

View source version on accesswire.com:
https://www.accesswire.com/680516/Mexus-Signs-LOI-for-its-Mabel-Property-Gold-Production-Continues-at-its-Santa-Elena-Mine

FAQ

What is the recent development involving Mexus Gold US (MXSG)?

Mexus Gold US has signed a letter of intent with Irmex Mining for its Mabel project.

What are the details of the Mabel project agreement?

The agreement includes cash payments and a 10% Net Profit Interest from the Mabel project.

What is the current production status at Mexus's Santa Elena mine?

Mexus is scheduled to ship activated carbon and leaching continues with average grades of 0.66 oz Au.

What are Mexus Gold US's plans for its Santa Elena project?

The company aims to find a joint venture partner for the Santa Elena project to explore over 1,000,000 ounces of gold resources.