Surrey, British Columbia CANADA, January 25, 2013 /FSC/ – Musgrove Minerals Corp.(MGS – TSX Venture, MGSGF- OTC Pink),announces that Westridge Resources (TSX.V:WST) has canceled the Jazzy claims option agreement for the project in Sinaloa, Mexico originally announced on October 3, 2012.
“Although we are disappointed that due to poor market conditions Westridge was unable to make any progress on the Jazzy claims,” said Rana Vig, President & CEO of Musgrove Minerals. “Management believes the termination of this agreement does not impact the Company in any significant manner as these claims encompass a early stage, grass roots property which will now simply sit in the Company’s portfolio awaiting further exploration at the opportune time” he said.
The Company will continue to work on advancing its Musgrove Creek Gold project – more details of which can be found on the company’s website at www.musgroveminerals.com.ON BEHALF OF THE BOARD OF DIRECTORS OFMUSGROVE MINERALS CORP.BY ORDER OF THE BOARD”Rana Vig”Rana Vig,President and CEOMUSGROVE MINERALS CORP.About Musgrove Minerals Corp.
Musgrove Minerals Corp. www.musgroveminerals.com is a mineral-exploration resource company trading on the TSX Venture Exchange (Symbol:MGS). The Company is currently exploring the Musgrove Creek Gold Project, an advanced stage exploration project located in a historic Gold mining district in Idaho, USA and approximately 24 Km (15 mi) from Meridian Gold’s past producing Beartrack Mine which produced approximately 600,000 oz of Gold from 1996 – 2001.
The Musgrove Creek Gold Project contains a NI 43-101 Inferred Mineral Resource estimate of 8 million tonnes at 1.22 g/t Au (0.036 oz/ton) at a gold cut-off of 0.8 g/t (0.023 oz/ton). This is equivalent to 313,822 oz (9,761 kg) of gold (Gruenwald and Makepeace, 2004).
Musgrove Minerals also has interest in three (3) other projects – The Vianey Silver Project in Mexico that it recently sold for $325,000 to Grand Peak Capital (GPK); The Jazzy property in Sinaloa Mexico; and, the Empire Mine project – a polymetallic skarn deposit containing copper, zinc, gold and silver located in the Alder Creek Mining District in Custer County, Idaho – that it recently joint ventured to Konnex Resources, currently a private company seeking to go public – owned 18% by Cliffs Natural Resources (CLF:NYSE).
Further information: Rana Vig at (604) 633-2442, or toll free 1-800-667-1442, or via [email protected], or by visiting our website at www.musgroveminerals.com
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
FORWARD LOOKING STATEMENTS This press release may contain or refer to certain forward-looking statements relating, but not limited to, Musgrove’s expectations, intentions, plans and beliefs with respect to Musgrove. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “does not expect”, “is expected”, “budget”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or equivalents or variations, including negative variations, of such words and phrases, or state that certain actions, events or results, “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements rely on certain underlying assumptions that, if not realized, can result in such forward-looking statements not being achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Musgrove to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Although Musgrove has attempted to identify important factors that could cause actual actions, events or results or cause actions, events or results not to be estimated or intended, there can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Other than as required by applicable Canadian securities laws, Musgrove does not update or revise any such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements.