MX Gold Corp. Earns 100% Interest in Silver Jen and Willa 5 Mineral Claims
VANCOUVER, March 17, 2017 (GLOBE NEWSWIRE) -- MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce that pursuant to a property option agreement dated July 7, 2016 between the Company and Pop Holdings Ltd. (“Pop Holdings”), it has issued the final tranche of 1.5 million shares (4.5 million shares in total) to Pop Holdings and has earned a 100% interest in the Silver Jen and Willa 5 mineral claims, located 12 kilometers south of Silverton, BC (the “Mineral Claims”). The Company’s interest in the Mineral Claims is subject to a 1% net smelter returns royalty on commercial production from the Mineral Claims in favour of North Bay Resources Inc., the property owner, and a 1.5% net smelter returns royalty in favour of Pop Holdings. The final tranche of shares was issued with a restricted period of four months and one day.
About MX Gold
MX Gold is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company’s primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.