CARSON CITY, Nev., Nov. 13, 2012 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.
Mexus Enterprises S.A. de C.V., a Mexican Corporation wholly owned by Mexus Gold US (MXSG), gives Mexus Gold US a 60% ownership in the Mexus Trinidad Joint Venture.
Trench sampling of the Joint Venture number 3 and 6 leach pads show a high of 10 grams per ton gold and 190 grams per ton silver. The Joint Venture, after reviewing the recommendations of its staff engineers, geologists, and metallurgists, intends to start the smallest heap leach number 3 pad leaching as soon as December 16, 2012 and to be followed by the number 6 pad. These pads contain the majority of the estimated 2.6 million tons of ore. With the 2.6 million tons of ore already in place on the pads, the Joint Venture will not have to start spending money on the mining/crushing part of the operation for approximately 75 days.
The Joint Venture owns the rights to a 100 year old tails dump, approximately 1 million tons, located off site and our Joint Venture partner has been running a pilot plant to test the values and processing procedure to recover values. With that being completed, the results are at a projected production of 120 tons per day. It is estimated to produce $2,100,000.00 per month in gross revenue at an estimated production cost $525,000.00, leaving a net of $1,575,000 per month. The necessary new equipment has already been purchased by the Joint Venture and is being installed with an estimated completion date of 11/24/2012. President Paul Thompson states that, “With the reorganization of the Trinidad Pacific management by the new Joint Venture, Mexus will receive skilled personnel to manage and operate the Joint Venture along with Mexus’ existing and future expanding operations.”
Julio Update
Julio Placer Operation is continuing to produce gold. Mexus continues its drilling program on the property and is excited with the results of drilling towards its future open pit/heap leach project on the Julio.
About Mexus Gold US
Mexus Gold US (OTCQB:MXSG) is a company engaged in the mining industry for the purpose of producing precious metals, including gold, silver and copper, from its projects located in the state of Sonora, Mexico and in the states of Nevada and Alaska. Mexus Gold US is dedicated to protecting the environment, providing employment and education opportunities for the communities where they operate. For further information or to see the full report, visit www.mexusgoldus.com.
The Mexus Gold US logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7718
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.
NOV
2012