Vangold Mining withdraws submission to acquire San Carlos Property in Guanajuato, Mexico
Vancouver, British Colimbia (FSCwire) - Vangold Mining Corp. (the “Company” or “Vangold”) (TSX-V: VAN), (USOTC:VGLDF) the Company announces that, further to its news release dated December 19, 2017 announcing the acquisition of the San Carlos Property, Mexico, it will not be proceeding with the acquisition at this time and has withdrawn its submission to the TSX Venture Exchange. The Company has decided to put the San Carlos property acquisition on hold until further exploration and drilling is completed on the nearby El Pinguico Mine property to confirm an extension of mineralization from the El Pinguico property.
Vangold is currently waiting to receive the Environment Impact Assessment (MIA) authorized by the regulator (SEMARNAT) allowing for drilling and blasting on the El Pinguico property. The MIA application was submitted into SEMARNAT in December 2017. Upon receiving the MIA, the company can start the drilling program of the lower Pinguico and target potential intersection of the massive Veta Madre epithermal vein. Under the MIA permit, the Company can initiate development of surface infrastructure, underground development and is required for future production.
About Vangold Mining Corp.
Vangold Mining Corp is a Canadian-based precious metal mining company whose goal is to acquire significant exploration opportunities supported by a defined set of geological principals. The Company has a diverse range of quality projects in Mexico and is now expanding with a massive land package in Nevada, USA. Vangold will continue to expand its portfolio with near production opportunities that bring value to shareholders by providing longer term exploration upside and mineral resource growth potential.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/Cameron S. King
President, CEO and Director
For further information contact:
O: + 1-778-945-2940
M: +1 604 499 6545
Further information is available on Vangold Mining's website at: www.vangoldmining.com.
Cautionary Statement Regarding Forward Looking Information
This News Release may contain, in addition to historical information, forward-looking statements. These forward-looking statements are identified by their use of terms and phases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Vangold's expectations, and expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to the following, limited operating history, proposed exploration and/or drill programs and other factors which may cause the actual results, performance or achievements of Vangold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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Source: Vangold Mining Corp. (TSX Venture:VAN, OTC Pink:VGLDF)
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