QUEBEC CITY, June 4 /CNW Telbec/ - Excel Gold Mining Inc. (TSX Venture:
EGM) is pleased to announce that it has entered into a non binding letter of
intent with the ownership of the Montauban (Batiscan) property. The letter
constitutes Excel Gold's 100% acquisition (The Acquisition) of the Montauban
property (The Property) in exchange for 8,000,000 common shares of Excel Gold
Mining Inc. The shares will be issued once the entire property as been
transfered to Excel Gold Mining Inc.
The Montauban (Batiscan) property possesses 53 square kilometer of
territory located in the Montauban and Chavigny region together with the west
section of La Seigneurie de Grondines, Comté de Portneuf, Quebec.
There are two types of layers known in the Montauban mining camp. The
first type is believed to be composed of volcanic sulphide masses containing
mineralization of zinc, lead, silver, copper and gold. The second type which
sometimes re-cuts the first and is subsequently put into place is of the
hydrothermal type associated with structures not folds. The second type
contains mineralization of gold, silver and copper with minor concentrations
in zinc and lead.
Furthermore, Excel Gold Mining Inc of Quebec City, Quebec is continuing
its active involvement in the acquisition and development of mineral
properties in North and South America. As such, the Company acknowledges
Montauban as being a privately owned property renowned for its high-grade
potential of large hydrocarbon deposits. Lastly, the Montauban region is
comprised of 117 claims covering an area of 4,603 hectares with an excellent
The successful completion of this joint venture is subject to certain
conditions including but not limited to, the receipt of all required
approvals, including the acceptance by the TSX Venture Exchange.
On behalf of the Board of Directors:
Excel Gold Mining Inc.
Forward looking Statement:
This document contains certain forward looking statements which involve
known and unknown risks, delays, and uncertainties not under the Company's
control which may cause actual results, performance or achievements of the
Company to be materially different from the results, performance or
expectation implied by these forward looking statements.This release has been
prepared by management - TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: Daniel Pauzé, President, Excel Gold Mining
Inc., (514) 951-7776; Source: Excel Gold Mining Inc.