Gold X Provides Update on Closing of Purchase Option
February 03 2020 - 08:30AM
Gold X Mining Corp. (TSX-V: GLDX, OTCQX: SSPXF)
(“
Gold X” or the “
Company”)
announces that it has agreed to extend the closing (the “Closing
Date”) to exercise the Company's option to purchase the Toroparu
property (the "Purchase Option") by up to an additional 30 days
after a request from Mr. Alphonso (the “Seller”).
As announced by Gold X on December 30, 2019, the
Seller and ETK Inc. (“ETK”), the Guyanese subsidiary of Gold X,
agreed to a Closing Date to complete the Purchase Option on January
30, 2020.
The Seller requested that ETK engage in further
discussions regarding future operations by the Seller in the area
of the Toroparu property and ETK agreed to conduct those
discussions which are ongoing. To accommodate the
discussions, ETK agreed to extend the Closing Date up to a maximum
of 30 days beyond January 30, 2020, provided that ETK may
accelerate the Closing Date at any time at its sole discretion to a
date five days after notice to the Seller.
On behalf of the Board of Directors of
Gold X Mining Corp.
“Richard A. Munson”Director and Chief Executive
Officer
About Gold X Mining Corp.
Ltd.
Gold X Mining Corp. is a Canadian junior mining
company currently moving toward a feasibility study for the
Toroparu Project in Guyana, South America with 7.4 million ounces
of gold in the Measured and Indicated categories. A Preliminary
Economic Assessment study (Preliminary Economic Assessment Report,
Toroparu Gold Project, Upper Puruni River Area, Guyana, dated July
18, 2019 completed by SRK Consulting (U.S.), Inc.,) (the “PEA”)
available on SEDAR (www.sedar.com) and on the Company’s website
(www.goldxmining.com). Gold X also holds a 100% interest in the
Chicharrón Project located in the Segovia-Remedios mining district,
Antioquia, Colombia. Additional information is available at
www.goldxmining.com or by email at info@goldxmining.com.
Visit Gold X’s website at www.goldxmining.com.
Contact Gold X Mining Corp.
Richard A. MunsonChief Executive OfficerTel: +1 (303) 991-5683
or via email at info@goldxmining.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.
Forward-looking StatementsThis
press release includes certain forward-looking statements
concerning future performance and operations of the Company,
including the anticipated date for the commencement of trading
post-consolidated basis. Forward-looking statements are frequently
identified by such words as "may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar words referring to
future events and results. Forward-looking statements are based on
the current opinions and expectations of management at the time
such statements are made. All forward-looking statements and
information are inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative
nature of mineral exploration and development, fluctuating
commodity prices, changes in project parameters as plans continue
to be refined, uncertainties of project cost overruns or
unanticipated costs and expenses, uncertainties inherent in
conducting operations in a foreign country, uncertainties related
to the availability and costs of financing needed in the future,
the risk that the conclusion of pre-production studies may not be
accurate, the Company's successful advancement of the Toroparu
Project toward feasibility and obtaining positive results from
ongoing evaluation and testing of multiple gold targets located in
the Company's landholdings in Guyana and Colombia, among other
risks as described in our public filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and we caution
against placing undue reliance thereon. Gold X Mining Corp. has an
ongoing obligation to disclose material information, as it becomes
available.
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