|April 03, 2014|
Minaurum Gold Provides Corporate Update
|Minaurum Gold Inc. ("Minaurum") is pleased to provide an update on its recent corporate developments. |
Focused & Balanced Project Portfolio
As one of the first juniors to explore in the Guerrero Gold Belt ("GGB)", Minaurum is focused on advancing its flagship Vuelcos del Destino project, located 20 km from Goldcorp's Los Filos mine. To provide itself with financial flexibility, Minaurum has extended its option to purchase 100% of the project from Minera Zalamera S.A. de C.V. to April 23, 2017. In consideration for the extension, it will be paying an additional $20,000 and issuing an additional 2,650,000 shares.
In order to remain focused on the GGB, Minaurum has decided to advance the remainder of its project portfolio through joint venture partners. As part of this strategy, it has already optioned the Santa Marta VMS project to Lowell Copper. Minaurum is now focusing on optioning off its Adelita Copper-Silver project. Minaurum recently exercised its option to purchase the project and now owns a 100% interest in Adelita.
Adelita is located directly adjacent to Pan American Silver Corp's Alamo Dorado silver mine. The project hosts a near-surface high-grade copper, gold and silver skarn mineralization along with a significant Copper-Molybdenum Porphyry. In accordance with its exploration strategy, Minaurum has dropped its earlier-stage Jackie, Porfido and Capilla projects.
Global Resources Investment Trust ("GRIL") Financing
With the closing of its private placement announced on December 20, 2013, Minaurum decided to avoid dilution by terminating its proposed share exchange agreement with GRIL announced on November 20, 2013.
Stock Options Granted
Minaurum has granted 3,600,000 incentive stock options under its stock option plan to directors, officers and consultants. The options are exercisable at a price of $0.10 per share for a period of five years. The last option grant was approved in 2011.
Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino project in the Guerrero Gold Belt, Mexico. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel at (http://www.minaurum.com/s/VideoGallery.asp).
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu -- Investor Relations Manager
(778) 330 0994 or via email at firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the settlement of debt, constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum' s current beliefs as well as assumptions made by and information currently available to Minaurum, including that the Minaurum is able to obtain any required regulatory approvals. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including delays in obtaining or failure to obtain required regulatory approvals. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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