Vancouver, British Colimbia (FSCwire) – Vangold Mining Corp. (TSX-V: VAN) and its wholly subsidiary Obras Mineras El Pinguico SA de CV (“Vangold”) executed the Surface Land Purchase Agreement for 302 hectares (Ha) with two private landowners. The surface land includes Vangold’s El Pinguico property and provides a significant land area for mining infrastructure, development and construction. Under the terms of the Surface Land Purchase Agreement, Vangold is committed to pay two annual instalments of the $4,500 CDN with a final payment of $65,000 CDN on the third anniversary.
Upon receiving the notarized Surface Land Purchase Agreement, Vangold submitted the Use of Land application with the Minister of Mines in Guanajuato, on September 21, 2017. On October 20th, 2017 Vangold received the final approval from the Guanajuato municipality.
Cameron King, CEO states “Owning the surface land and receiving the Use of Land permit are two major milestones for Vangold, allowing Vangold to continue with its production plans for the over-ground (“OG”) and under-ground (“UG”) stockpiled material. I am very proud of the Guanajuato team, for their achievements and keeping the project on schedule.”