Mexus Gold US Has Signed a Non-binding Letter Of Intent, Expects to Begin Trading on Pink Sheets

Rhea-AI Summary

Mexus Gold US (MXSG) has announced its voluntary delisting from OTCQB status and plans to resume trading on Pink Sheets in February 2025, maintaining its MXSG symbol. The company has signed a non-binding letter of intent with Tierra Nueva Minera, led by CEO Miguel Barahona, potentially bringing valuable mining experience to Mexus' Santa Eleana project.

The company believes its Santa Elena gold property may contain over a million ounces of gold reserves. With current permits in place for drilling and gold production across approximately 6,500 acres, Mexus plans to conduct drilling and publish an SK-1300 resource report from a U.S.-based third-party mining engineering company. Following the report's issuance, the company may consider returning to OTCQB status as a reporting company.

Positive

• Company has valid permits for drilling and gold production on 6,500-acre Santa Elena property
• Potential partnership with experienced Mexican mining company Tierra Nueva Minera
• Property potentially contains over 1 million ounces of gold reserves

Negative

• Voluntary delisting from OTCQB to Pink Sheets indicates reduced reporting transparency
• Letter of Intent with Tierra Nueva Minera is non-binding
• No current SK-1300 resource report to validate gold reserve claims

Mexus Gold US OTC: MXSG Santa Eleana, Caborca, Sonora State Mexico

A Nevada Corporation 1805 N Carson St, Carson City Nv.

SONORA, MX / ACCESSWIRE / January 13, 2025 / Mexus Gold US President, Paul Thompson is pleased to announce: With the advice of Mexus legal counsel MXSG has chosen to voluntarily delist Mexus Gold US (MXSG) for the time being from the OTCQB fully reporting company status, and expects to resume trading likely in February as an OTC public traded Pink Sheets Corporation with the trading symbol still MXSG.

Mexus has signed a Non-Binding letter of Intent with a Non-Disclosure Agreement with Tierra Nueva Minera a company mining in Mexico. Its CEO Mr. Miguel Barahona has experience and knowledge needed to enable Mexus Santa Eleana to become a major gold producing mine. Mexus expects to have a decision from Tierra Nueva Minera by February of 2025.

Mr. Thompson goes on to state he is of the belief along with other qualified geologists, that a million ounce plus gold reserve may exist on its Santa Elena gold property. The timing is right with the price of gold along with Mexus having its permits up to date, and in place to drill and/or start gold production from the Santa Eleana Gold property of approximately 6500 acres. The permits alone add tremendous value to the Santa Eleana Gold Project. Once the funds are in place for drilling, Mexus will upon results, review and have published current SK-1300 resource report from a reputable 3rd party mining engineering company based in the United States. Mr. Thompson goes on to state once the SK-1300 report is issued Mexus may choose to become a reporting company again and uplist to the OTCQB.

Cautionary Statement 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 exchange commission. The actual results may differ materially from those contained in this press release. The company disclaims any obligation to up date any statements in this press release.

For more information on Mexus Gold US, email pthompson@mexusgoldus.com

Paul Thompson SR. (775) 721-9960

SOURCE: Mexus Gold US

View the original press release on accesswire.com

FAQ

When will MXSG begin trading on Pink Sheets after delisting from OTCQB?

Mexus Gold US (MXSG) expects to resume trading on Pink Sheets in February 2025.

What is the potential gold reserve estimate for MXSG's Santa Elena property?

The company believes the Santa Elena property may contain over a million ounces of gold reserves, though this hasn't been verified by an SK-1300 resource report yet.

What is the size of MXSG's Santa Elena gold property?

The Santa Elena gold property is approximately 6,500 acres in size.

Who has MXSG signed a Letter of Intent with in January 2025?

MXSG has signed a non-binding Letter of Intent with Tierra Nueva Minera, a Mexican mining company led by CEO Miguel Barahona.

Will MXSG return to OTCQB status in the future?

The company may choose to return to OTCQB status and become a reporting company again after obtaining and publishing an SK-1300 resource report.