Preview: What the kids had NOTHING to do with
CABORCA, SONORA STATE, MEXICO, April 16th, 2018(GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced today that MexusGold Mining SA De CVA, a subsidiary of MexusGold US, is terminating its joint venture agreement with MarMar Holdings. The agreement outlined the contractual obligations at the Santa Elena project in Caborca, Sonora State, Mexico. The decision to terminate the agreement was made due to MarMar’s lack of funding for the project, non-compliance with various aspects of the agreement, and their inability to meet environmental standards at the site. Lack of funding by MarMar resulted in a disappointing 8.5oz Au produced in the last 22 months. The agreement stipulated that MarMar was to provide the funding, equipment, and fully operate the mine. Unfortunately, this did not occur.
Mexus will move forward with the proper equipment and personnel at the Santa Elena project.