Vancouver, B.C. – MX Gold Corp. (TSX-V: MXL) (FSE: ODV) (OTCQX: MXLGF) (the "Company" or "MX Gold") is pleasedreport on the commitment and exceptional work that is being done by Componentes Mineros SA DE CV.
Francis R Biscan, GracePoint Mining Corp Chairman & CEO states: "We believed that one of the most critical aspects of the Magistral project was the selection of the right contractor for the re-building and expansion of the processing plant. We have been doing business in Mexico for over 11 years, and I can confidently say that Componentes Mineros SA DE CV is one of the best companies that we have worked with, not only for the competent work they are doing, but also for their personal and professional commitment to the project."
Mr. Dan Omeniuk, CEO and Chairman of MX Gold adds, "When we entered the Joint Venture with GracePoint I made the comment, It is rare to find both people and projects that are such a perfect fit for our vision at MX Gold. Gracepoint Mining's focus on building a portfolio of projects that are near term producers with upside potential is very attractive to us."
In early 2016 our Project Team took the decision to choose a "Turnkey" Design/Build partner and a thorough process of selection chose Componentes Mineros SA DE. Componentes Team has worked with our JV Operating Team in the same spirit of cooperative success. Professionalism is complete.
Luis Felipe Garcia,General Manager of Componentes Mineros SA DE CV states: "Of all that we do in serving the mining industry, we are truly grateful when we are able to work on projects that are state of the art. Magistral is one of those projects, and brings a unique quality to the region. The configuration of the facility will not only be ideal for the tailings that the project controls, but it will also be well suited to serve the surrounding area from a tolling perspective.
About MX Gold
MX Gold Corp. 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 Corp. 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 with planned ore shipment from Willa to the Max Mill The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve.
Located in Mexico, MX Gold's new Magistral Del Oro Project is located 392 kilometres south-west of Chihuahua City, in route to Parral 220 km, from there due South on Durango Hi-way for 120 km to Santa Maria Del Oro interception, turn West to Santa Maria Del Oro for 48km, continue East for 3.5 km, then turn South for .5 km to the Magistral Del Oro Project. All paved road except for the last 0.5 kilometer.
On behalf of the Board of Directors,
Dan Omeniuk, MX Gold Corp.
For further information, please contact:
Email: [email protected]
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Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections – statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include MX Gold's estimation that the Magistral plant can be fully operational within 4 to 6 months, its plans for a data verification program and additional geochemical studies, its belief in the near term and upside potential of the project and Firma Holdings Corp.'s expectation that the parties can work together to grow the project beyond its initial vision and capacity. All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, business integration risks; uncertainty of production, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the measurement of mineral reserves and resource estimates, MX Gold's ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties and the availability of capital to fund the Company's projects, as well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. MX Gold cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and MX Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.