|MX Gold Corp – MXL.v is focused on the mining, exploration, and development of advanced projects located in the Kootenay region of British Columbia. The Company’s primary focus is the Willa gold and copper project located 12 km south of Silverton, BC.|
MX GOLD CORP. SIGNS LOI TO ACQUIRE A 50% INTEREST IN THE DURANGO SMELTER PROJECT IN MEXICO
MX Gold Corp. has entered into a binding option agreement with American Metal Mining SA de CV whereby, upon certain scheduled payments totalling $1,525,000 (U.S.), the company will acquire 50 per cent of the shares of a private Mexican corporation that holds the IDS project. The IDS project consists of a past-producing gold smelter, three acres of land situated around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment of $650,000 (U.S.), the company was granted a 49.5-per-cent net profit participating interest in the IDS project that will remain until option exercise, provided that all payments are made by the company in accordance with the option agreement.