QUEBEC CITY, Oct. 2 /CNW Telbec/ - Excel Gold Mining Inc. (TSX Venture:
EGM) is pleased to announce that it has entered into a non binding letter of
intent for the ownership of the Montauban II (Batiscan) property. The letter
constitutes Excel Gold's 100% acquisition of the Montauban II property (The
Property) in exchange for 5,750,000 common shares of Excel Gold Mining Inc. at
.08 including 2,875,000 warrants at .12 per warrant. The shares will be issued
once the entire property as been transfered to Excel Gold Mining Inc.
This new acquisition is comprised of 140 claims covering an area of
5559.27 hectares with excellent discovery potential, located in the low lands
of the province of Quebec near the town of Batiscan, Comte de Portneuf,
The Montauban II (Batiscan) property completes Excel Gold's strong
foothold in the Batiscan area where in August 2008 it completed the
acquisition of 117 adjacent claims comprising 4603 hectares (Montauban 1).
With this acquisition Excel Gold will continue to add properties of merit to
its land package. With a major land position in this prolific mineral area
Excel Gold now plans to undertake and announce a comprehensive exploration
program to assess fully the mineral potential of the area.
There are two types of formations known in the Montauban area. The first
is believed to be composed of volcanic sulphide masses and the second is
hydrothermal in which case it contains gold, silver and copper with minor
concentrations in zinc and lead.
The successful completion of this acquisition 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.
About Excel Gold
Excel Gold Mining is a mineral exploration company with siginificant
projects in five sectors of the mining resource industry. As seen it is
rapidly building a portfolio of projects focused on gold, silver and copper
and minor concentrations in zinc and lead in one specific area of Quebec.
Maps, photographs, detailed geologic reports and additional information will
soon be made available on our website that is under construction.
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.