Mexus Gold Enters Into Contract to Fund Cable Recovery
July 12 2010 - 8:48AM
Mexus Gold U.S. (OTCBB:MXSG) is pleased to
announce the signing of a contract with Powercom Services, Inc., a
Georgia company, to provide the necessary capital so Mexus can
proceed with the first phase of its Cable Recovery in Alaskan
waters.
Mexus President/CEO Paul Thompson along with Ken Setter, the
person in charge of the Alaska sub-marine cable project for Mexus,
just returned from two weeks of intense fruitful meetings and
verifications of cable locations in Alaska waters culminating in
the execution of the contract which will fund Mexus through its
first barge load sale of cable.
Mr. Paul Thompson, CEO Mexus Gold stated, "Ken Setter was able
to direct us to several sites along the Pacific Coast of Alaska
where we were able to identify the sub-marine cable. We were able
to retrieve several sections for sampling purposes, and to test
Mexus' new innovative way of retrieving cable from the bottom of
the ocean. We believe the new cable pulling equipment will have the
capability of pulling up to 10 miles per day or 475,200 lbs. per
day. The cable is composed of copper, lead, and steel, all
salvageable for scrap sales or processing for end user. Mexus is
now ready to start equipping its 260' barge located in Seattle, WA
with pulling equipment for the trip to Alaska where it will be able
to start pulling cable at a point identified and marked by Setter
and Thompson on their recent trip.
Mr. Thompson went on to state, "Our objective is to be pulling
cable by mid August and begin delivery prior to the end of
September. I want to thank our loyal and faithful shareholders for
their continued support of our cable and mining endeavors as we
have achieved another milestone in our young company's
history."
About Mexus Gold U.S. (OTCBB:MXSG) is a mining
company engaged in the evaluation, acquisition, exploration,
salvage and recovery of gold, silver and copper projects in the
State of Sonora, Mexico, the Western United States, Alaska. Mexus
Gold U.S. is dedicated to protecting the environment, providing
employment and education opportunities for the communities where
they operate. For further information see www.mexusgoldus.com or
download our corporate profile at:
http://premierstocks.tv/images/company_links/mexus.pdf
The Mexus Gold U.S. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7718
Forward looking Statement: Statements in this
press release may constitute forward-looking statements and are
subject to numerous risks and uncertainties, including the failure
to complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack of market
demand for any new or enhanced products the Company may develop,
any actions by the Company's partners that may be adverse to the
Company, the success of competitive products, other economic
factors affecting the Company and its markets, seasonal changes,
and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission. The actual results may
differ materially from those contained in this press release. The
Company disclaims any obligation to update any statements in this
press release.
CONTACT: Mexus Gold U.S.
Paul Thompson, President/CEO
775-721-9960
Premier Media Service Inc.
Kelly Black
(480) 649-8224
Mexus Gold US (CE) (USOTC:MXSG)
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