Minaurum Gold Inc. ("Minaurum") announces that it has arranged to settle the outstanding debt owed to Minera Mariposa S.A. de C.V. pertaining to un-incurred expenditures on the Jackie and El Porfido properties by issuing an aggregate of 150,000 common shares at a deemed price of $0.533 per common share. The amount of indebtedness to be settled by this arrangement totals US$80,000.
The common shares issued in connection with this debt settlement will be subject to a hold period of four months from issuance. The arrangement is subject to approval of the TSX Venture Exchange.
The Company would also like to report that the shares for debt owing to officers and consultants of the Company, that were announced in a news release dated January 16, 2014, have been issued and that all debts owed to officers and consultants have now been extinguished.
Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino project in the Guerrero Gold Belt, Mexico. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel at (http://www.minaurum.com/s/VideoGallery.asp).
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
or more information, please contact:
Sunny Pannu - Investor Relations Manager
(778) 330 0994 or via email at firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the settlement of debt, constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum' s current beliefs as well as assumptions made by and information currently available to Minaurum, including that the Minaurum is able to obtain any required regulatory approvals. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including delays in obtaining or failure to obtain required regulatory approvals. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.