~ New Route Will Lessen Impact on Local Community ~
VanGold Mining Corp (the "Company" or "VanGold") (TSXV:VGLD) is pleased to announce it has been granted permits by state and local government agencies to transform an existing historic pathway into an access and haulage road at its El Pinguico project located 7km south of the city of Guanajuato, Mexico
VanGold Director Hernan Dorado said: "Our neighbours in the town of Calderones have been supportive and patient with VanGold as we have used roads on the outskirts of their community for some time. With this improved road our desire to be good neighbours - and quiet neighbours - will be better fulfilled. Now that we have permission from both relevant levels of government we expect road construction to be completed by mid-May 2021."
Connecting the El Pinguico Shaft with the #4 and #7 Adit Portals:
Current travel from the El Pinguico shaft to the #4 and #7 adit access portals requires Company personnel to drive north, then exit off of VanGold Mining claims, and travel through a portion of the town of Calderones, then south and back onto our claims - a drive of approximately 6km over rough and uneven gravel roads. When mining took place at El Pinguico 110 years ago, a much more direct route existed taking miners with mules and wagons up and over the large hill between the two locations.
That ‘mule track' still exists, is only 1.5km in length and lies entirely on VanGold owned surface concessions. With state and local permits now in place, work will begin immediately to smooth and widen this right-of-way. The intention is to widen the road to accommodate 20 tonne trucks which the Company envisions will haul mineralised material from the #7 portal back to the Pinguico shaft, and onward to the El Cubo mill. The Company will also construct road pull-outs every 250 meters for trucks to pass one another. This road will become El Pinguico's major thoroughfare for production, exploration, administration, and for safely purposes. The Company anticipates it will reduce driving time between the destinations from 40 minutes to 10 minutes, significantly reducing costs and wear on vehicles.
VanGold Adds Options for Investor Relations Group:
VanGold confirms that on March 24, 2021 the Company granted Mars Investor Relations Inc. (see news release dated February 17, 2021) additional stock options to purchase up to an aggregate of 350,000 common shares which shall vest over a two-year period, are exercisable up to five years from the grant date and have a strike price of $0.51 per share.
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. Upon closing of the El Cubo acquisition, the Company will focus 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
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 successful transformation of the historic "mule track" into an access and haulage road for El Pinguico and the timing thereof, the estimated savings in travel time and costs associated with the new road, the successful acquisition of El Cubo on the terms and conditions contemplated, the proposed use of proceeds from VanGold's recently completed private placement financing, 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 successfully complete the acquisition of El Cubo on the terms contemplated or at all or, if acquired, that the Company will be able to re-start the El Cubo mill to process mineralized materials in the amounts and at the costs anticipated. In addition, there is uncertainty about the spread of COVID-19 and variants of concern and the impact it 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.
PH: +1(778) 989-5346 E: email@example.com W: vangoldmining.com
CA: Suite 2820 - 200 Granville Street, Vancouver B.C. V6C 1S4
MX: Carretera - Guanajuato - Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto., Mexico
SOURCE: Vangold Mining Corp.
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