Company Files Amended PEA Technical Report
VANCOUVER, BC / ACCESSWIRE / May 19, 2021 / VanGold Mining Corp. (the "Company" or "VanGold") (TSXV:VGLD)(OTCQX:VGLDF) is pleased to announce its shares will begin trading today on the OTCQX Best Market in the United States, after being upgraded from the Pink® market, under the symbol "VGLDF".
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
"Graduating to the OTCQX Market from the Pink market marks another in a series of important milestones for the Company. This approval will provide increased access to US institutional and retail investors looking to invest in the Company and provide them with the opportunity to share in VanGold's growth." said Lisa Dea VanGold's CFO.
The Company wishes to thank B. Riley Securities, Inc. which acted as VanGold's OTCQX sponsor during the quotation process. B. Riley Securities is a full-service investment bank which provides corporate finance, research, sales and trading services.
VanGold's shares will continue to trade on the TSX Venture Exchange with the symbol VGLD.
VanGold Files Amended PEA:
VanGold announces that, in response to normal course review and comments from the TSX Venture Exchange, it has filed on SEDAR an amended and restated NI 43-101 technical report of Behre Dolbear & Company (USA), Inc., independent mineral industry advisors, on the Company's combined El Cubo/El Pinguico project titled "Preliminary Economic Analysis, El Cubo/El Pinguico Silver Gold Complex Project, State of Guanajuato, Mexico" with an effective date of 31 January 2021; an issue date of 12 Feb 2021 and an amended and restated date of 6 May, 2021 (the "Amended Report").
There are no material differences in the mineral resources and results of the preliminary economic analysis ("PEA") contained in the Amended Report from those reported by the Company on February 16, 2021.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The Amended Report contains a full description of all underlying assumptions relating to the PEA. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
About VanGold Mining Corp.:
VanGold Mining is an exploration and development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company's El Pinguico project is a significant past producer of both silver and gold located just 7 kilometers south of the city. The Company is now focused on the refurbishment of the El Cubo mill, and swift commencement of production from the El Cubo and El Pinguico Combined Operation, as well as delineating additional silver and gold resources through underground and surface drilling on its projects located in this 480-year-old mining camp.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and CEO
For further information regarding VanGold Mining Corp, please contact:
James Anderson, Director, +1 (778) 989-5346
Continue to watch our progress at: www.vangoldmining.com
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 and information, which relate to future events or future performance including, but not limited to, the ability of VanGold to successfully re-start the El Cubo mill and supply sufficient mineralized material from El Cubo and El Pinguico for processing through the El Cubo mill at projected rates, the ability to generate positive cash flow from the El Cubo mill as contemplated or at all, the exploration and development potential of El Cubo and El Pinguico and the potential existence of additional mineral resources thereon. Such forward-looking statements reflect management's current 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, unanticipated geological formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. There are no assurances that VanGold will be able to re-start the El Cubo mill to process mineralized materials in the amounts and at the costs anticipated. In addition, VanGold's decision to begin processing mineralized material from its above and underground stockpiles at El Pinguico and estimated resources at El Cubo through the El Cubo mill is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the results of the Company's PEA will be realized. There is also uncertainty about the spread of COVID-19 and variants of concern and the impact they will have on the Company's operations, supply chains, ability to access El Pinguico or El Cubo or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the 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 law.
VANGOLD MINING CORP.
CA: Suite 578 - 999 Canada Place, Vancouver B.C. V6C 3E1
MX: Carretera - Guanajuato - Silao km 5.5, Int. #4, Col. Marfil CP36250, Guanajuato, Gto., Mexico
SOURCE: VanGold Mining Corp.
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