February 13, 2020 – Vancouver, British Columbia – Vangold Mining Corp. (the “Company” or “Vangold”) (TSXV:VAN) is pleased to announce it has secured a surface land access agreement, and a surface land use agreement for its El Pinguico gold and silver mine located 7km south of the city of Guanajuato, Mexico.
These agreements will provide the Company with long-term convenient and efficient road access to the El Pinguico mine; and use of ample open acreage on the surface of the El Pinguico mine, Vangold’s primary mining concession.
Land Access Agreement:
The Company has signed a land access agreement with the local Ejido group - Ejido Calderones - from the town of Calderones, in the state of Guanajuato, Mexico, located adjacent to Vangold’s El Pinguico mine holdings. The agreement allows for unrestricted road access for exploration and mining equipment and personnel to El Pinguico through the community of Calderones. The 15- year agreement will provide crews with long-term access to the project via the area’s safest and most direct route. Under the agreement Vangold will make an initial payment of approximately $7,100 Canadian dollars. The Company will then make annual payments of approximately $2,100 Canadian dollars, adjusted yearly for inflation.
CEO James Anderson stated: “Vangold Mining is very grateful to our neighbours from Calderones for allowing us this road access. We look forward to working with the community of Calderones in a continued spirit of neighbourly friendship and cooperation and anticipate providing job opportunities to the local population in the years to come.”
Land Use Agreement:
The land use agreement was signed with a local landowner and encompasses a total of 89.6 hectares covering important portions of the surface of the El Pinguico mining claims. The two- year agreement allows Vangold to build additional roads and do all things necessary to build or re-establish a mine. The agreement also gives Vangold an option to purchase the land outright after the two-year term. Vangold director Hernan Dorado Smith commented, “The Ramirez family who own the land are a prominent business family within the Guanajuato community; they have had an interest in the El Pinguico mine for over 50 years. These surface access and use agreements, together with Vangold’s existing mining rights, provide the Company with all key land components necessary to carry out its planned exploration and operational activities at El Pinguico.” Under this agreement Vangold has made an initial payment of approximately $1,700 Canadian dollars. After 12 months, the Company will then commence making monthly payments of approximately $140 Canadian dollars.
About Vangold Mining Corp.
Vangold Mining is engaged in the exploration and development of mineral projects in the Guanajuato region of central Mexico. The Company’s flagship El Pinguico project was a significant past producer of high-grade gold and silver and is located just 7km south of the city of Guanajuato, Mexico. The Company remains focused on the near-term potential for development and monetization of both its surface and underground stockpiles of mineralized material at El Pinguico.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and CEO
For further information regarding Vangold Mining Corp, please contact:
James Anderson, CEO (778) 989-5346
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the potential for near term development and monetization of existing stockpiles of mineralized material at the Company’s El Pinguico project in Mexico) and reflect management’s current expectations and beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, title disputes, and other risks in the mining industry. All forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.