AmMex Gold Mining Corp. (OTCBB:AMXG)(FWB:R5E)(WKN:A0KE72) is pleased to announce that it has signed a Memorandum of Understanding to acquire 100% of the mining rights to the Cold Creek Gold Project, located in Cassia County, Idaho, near the Utah-Nevada border.
Historical drilling of the gold mineralization at Cold Creek delineated a non NI 43-101 compliant 85,000 ounce gold equivalent resource. It also indicated the presence of an open-ended deposit that requires additional drilling to fully define its ultimate size and extent, overall average grade, and potential mineability.
AmMex paid an initial, non-refundable deposit of $10,000 to the vendor and, upon signing of the MOU, an additional $10,000 was paid for staking and filing costs. A formal agreement will be prepared as quickly as practicable.
As per the terms of the agreement, AmMex can earn a 100% interest in the Property, upon fulfilling its financial and exploration obligations. AmMex must issue 250,000 shares of common stock to the vendors, and complete an aggregate of US$175,000 in exploration work on the property, over a period of 3 years.
About AmMex Gold
AmMex Gold Mining Corp. is a precious metals exploration company which aims to build shareholder value by acquiring a diversified portfolio of precious metals assets in proven, resource-rich areas. There is a focus on properties in politically safe areas of the world with emphasis in North and South America where the Company has a strong presence and expertise. The Company trades on the OTC market under the symbol "AMXG", and on the Frankfurt Exchange under the symbol "R5E".
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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