VANCOUVER, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) -- MX Gold Corp. (MXL.V) (FSE:ODV) (MXLGF) (the “Company” or “MX Gold”) announces that on January 10, 2018, the British Columbia Securities Commission (the “BCSC”) issued a Cease Trade Order against the Company (the “CTO”) as a result of the Company not filing technical reports under National Instrument 43-101 to support first time disclosure of the results of a preliminary economic assessment on its Max Molybdenum property and to support first time disclosure of mineral reserves on its Magistral property.
The Company is working diligently to address the deficiencies in the CTO.
On January 11, 2018, the TSX Venture Exchange (the “Exchange”) suspended the Company’s common shares from trading on the Exchange as a result of the CTO. The Company intends to apply to the Exchange for re-instatement of trading in the Company’s shares after the CTO is revoked by the BCSC.
About MX
MX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company’s primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013. The Company is currently expanding to 1,000 tonne-per day. The Company also owns 50% of the IDS Project, which includes a permitted smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process material from small-scale miners across the state of Durango and beyond.
MX Gold Corp. is also focused on the exploration, development and mining of advanced projects located in British Columbia. The Company’s primary focus in British Columbia is its Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. The Willa mine is located 135 kilometers south of the Max Mill. For updates on the Magistral Project please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
“Dan Omeniuk”
For further information, please contact
Dan Omeniuk, CEO
Email: dano@mxgoldcorp.com
Phone: 778-798-GOLD
Or at: info@mxgoldcorp.com
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.