Excel Gold Mining Inc.
TSX VENTURE : EGM

Excel Gold Mining Inc.

July 10, 2009 12:03 ET

Excel Gold Mining Inc., Announces the Signing of a Letter of Intent for 100% Acquisition of the Montauban Mine and 2 Adjacent Mining Claim Properties, in Province of Quebec

MONTREAL, QUEBEC--(Marketwire - July 10, 2009) - EXCEL GOLD MINING INC. (TSX VENTURE:EGM)

Today Excel Gold Mining Inc. announced the signing of a letter of intent with Golden Goose Resources for 100% acquisition of the Montauban Mine including: 2 Adjacent Mining Claim Properties, in Province of Quebec.

The acquisition has been set for a valued consideration of $150,000 cash and 1% in net smelter returns. Excel paid out a $10,000 deposit on signature and the transaction will be completed when the balance payment of $140,000 will be remitted to Golden Goose and following the approval of TSX regulatory authorities'.

Excel Gold ceo Mr. Patrick Lessard indicated the following: "This acquisition represents the key milestone element of our exploration program, and one of the main values of this acquisition resides in the granted mining lease and extraction production permits, as well as the strategic position of the Montauban mine sitting at proximity of our Batiscan 1 & 2 previously acquired properties."

About "Montauban Mine"

The "Montauban Mine" consists of a mining lease and mining concession totalizing an approximate surface of 76,84 hectares. The mine is located at 3km south of the town of Notre-Dame-de-Montauban.

About "Batiscan 1" Asset

Comprised in 119 claims, the "Batiscan I" property totalizes an approximate surface of 5168 hectares. The property is located in the Montauban and Chavigny townships near Grondine-Ouest in the Portneuf County, Quebec. The property is easily accessable by road, at less than 2 hours drive from Montreal.

About "Bastican II" Asset

The "Batiscan II" is composed of 140 mining titles covering an approximate surface of 6 435 hectares. The property is located in the Montauban, Chavigny townships, at 120 km west of the City of Quebec and 50 km north east of the City of Trois-Rivieres, Quebec.

For more information, please visit the Company Corporate Web Site at: www.excelgoldmining.com.

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.

"Neither 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."

Contact Information

  • Excel Gold Mining Inc.
    Patrick Lessard
    Interim President
    514-951-7776