The TSX Venture Exchange has accepted for filing an option agreement dated Oct. 7, 2010, between Minaurum Gold Inc. and Minera Zalamera S.A. de C.V. (David Jones), whereby the company will acquire a 100-per-cent interest in the Santa Marta copper-gold project, comprising approximately 7,100 hectares, located in Oaxaca state, Mexico.
Total consideration consists of $150,000 in cash payments, 1,075,000 shares of the company and $2.5-million in work expenditures as follows:
Exchange approval, $20,000 cash;
Within 60 days from approval, 250,000 shares;
One year from approval, $30,000 cash, 250,000 shares and $25,000 in work expenditures;
Two years from approval, $50,000 cash, 250,000 shares and $475,000 in work expenditures;
Three years from approval, $50,000 cash, 325,000 shares and $500,000 in work expendutires;
Four years from approval, $500,000 in work expenditures;
Five years from approval, $1-million in work expenditures
Minaurum Gold is a gold and silver explorer focusing on the acquisition and development of precious metals deposits in Mexico. The Company is currently advancing the Adelita, Aurena, Capilla, Vuelcos del Destino, El Pórfido, Santa Marta, Corazonada and Jackie Projects. These projects have been optioned from some of the most successful project generators in Mexico; David M. Jones and Dr. Peter K.M. Megaw with his associates in IMDEX Inc. and Minera Cascabel.
On behalf of the Directors of Minaurum Gold Inc.
"Darrell A. Rader"
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
1500 - 409 Granville St.
Vancouver, BC V6C 1T2
Telephone 778 330-0994
Forward Looking Statement: Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.