| ||Tue Jan 31, 2017|
Mexivada's GOLDS claims, Nevada, Sold to Mountain View Gold, Inc.
| ||Mexivada Mining Corp. (TSX-V/NEX: MNV.H) announces that its Nevada subsidiary corporation, Mexivada Mining Corporation, has sold its interests in the nine unpatented GOLDS lode claims in Elko County, Nevada to Mountain View Gold Inc. ("Mountain View") in a purchase agreement document dated on January 24, 2017 and notarized and filed in Elko County, Nevada, by the company on January 30, 2017. The sales price was $3,000 United States dollars, half of which paid by Mexivada's President, Officer and Director, Richard R. Redfern. |
Mountain View also was granted the right, for a one year period, to purchase Mexivada's Reclamation Assurance Bond, and its BLM-accepted Notice of Intent to Conduct Exploration on the adjoining SKI claims ("Goldstorm") property for the sum of US$1,500 and by reimbursing Mexivada for the bond amount held by the Nevada Division of Minerals. Mexivada lost the SKI claims property in September, 2016, when it failed to pay the annual property agreement fee owed to Richard R. Redfern and when Mexivada was unable to pay the annual mining claim maintenance fees owed to the U.S. Bureau of Land Management. The SKI claims property was returned to Mr. Redfern in September, 2016, who personally paid the BLM annual fees. The sale proceeds received by Mexivada Mining Corporation have been used to pay down credit card debt owed by Mexivada. This sale will allow Mexivada to better focus on its efforts on its Ziggurat and Gold Jackpot mineral exploration properties in Nevada. Former Mexivada Director John Ellis resigned from Mexivada Mining Corp., by written letter, at a Board of Director meeting on December 31, 2015.
The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release. For further information, please visit our updated web site at www.mexivada.com or contact us by e-mail at Mexivada@frontiernet.net.
Mexivada is a Canadian mineral exploration company focused on advancing or selling its Ziggurat and Gold Jackpot mineral exploration projects in Nevada, and in selling data within its database of mineral properties in the United States, Canada, Mexico, and Africa.
On behalf of the Company,
Richard R. Redfern
President & CEO
Mexivada Mining Corp.
Caution Concerning Forward-Looking Statements
This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of Mexivada's management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.
NEITHER THE TSX VENTURE EXCHANGE NOR NEX NOR THEIR REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Mexivada Mining Corp.
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