MX Gold Corp. Acquires Near Term Gold Production in Mexico

VANCOUVER, British Columbia, Oct. 25, 2016 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce a binding agreement with Gracepoint Mining Corp., a subsidiary of Firma Holdings Corp. (OTC:FRMA) to acquire a 50% interest in the Magistral, Del Oro tailings project, which is located within the “Golden Triangle” in Santa Maria Del Oro, Durango, Mexico.

The project includes a fully permitted, 500 tonne/day Dynamic Cyanide counter current system plant constructed in 2013 at a cost of approximately $4.5 million, which appears to be in excellent condition.  The plant is unencumbered and it is estimated that the plant can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process the mineralized mill tailings.

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