MX Gold Corp. Signs LOI to Acquire a 50% Interest in the Durango Smelter Project in Mexico

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/403-tsx-venture/mxl/29241-mx-gold-corp-signs-loi-to-acquire-a-50-interest-in-the-durango-smelter-project-in-mexico.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 13, 2017) – MX Gold Corp. (TSX VENTURE:MXL)(FRANKFURT:ODV)(OTCQX:MXLGF) (the “Company” or “MX Gold”) is pleased to announce the entry into a binding option agreement with American Metal Mining S.A. de C.V. (“AMM”) whereby, upon certain scheduled payments totaling US$1,525,000, the Company will acquire 50% of the shares of a private Mexican corporation that holds the IDS Project. The IDS Project consists of a past-producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment of US$650,000, the Company was granted a 49.5% net profit participating interest in the IDS Project that will remain until option exercise, provided that all payments are made by the Company in accordance with the option agreement.

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