Mexican Gold Acquires Pueblo Nuevo and La Luz 1 Concessions at Las Minas Project

THUNDER BAY, ONTARIO–(Marketwired – May 16, 2017) – MEXICAN GOLD CORP. (the “Company” or “Mexican Gold “) (TSX VENTURE:MEX) is pleased to report that it has acquired a 100 % interest in the Pueblo Nuevo and La Luz 1 concessions at the Las Minas project, Veracruz State, Mexico.

Pursuant to the terms of the option agreement, the company acquired the Pueblo Nuevo and La Luz 1 concessions for US $ 150,000 plus VAT in cash. Mr. Ramon Farias Garcia, property owner, retained a 1.5% royalty, of which 0.5% can be purchased for US$ 500,000, plus VAT. Mexican Gold has a right of first refusal on the remaining 1% royalty.

Brian Robertson, Chairman, President and CEO stated, “We are very pleased to own a 100% interest in these two concessions. I wish to thank Mr. Farias for his strong support during the option period and willingness to renegotiate the option agreement on many occasions during difficult market conditions. We now look forward to advancing these properties, which contain historical mines with extensive workings, to the drill ready stage.”

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