Excel Gold Mining Inc.

Excel Gold Mining Inc.

October 16, 2009 13:52 ET

Letter of Intent Regarding the Acquisition of Mining Properties Known as the Castellane (Batiscan)


Excel Gold Mining Inc. (hereinafter referred to as "Excel" or the "Company") is pleased to announce the signature of a letter of intent with Capital Castellane Inc. (the "Vendor") for the purchase by Excel of more mining claims in the Montauban Mining Camp and named (for presentation purposes) "Castellane (Bastiscan)", Province of Quebec (the "Properties").The proposed purchase price for the acquisition of all rights and titles in and on the Properties would be composed of 6,750,000 common shares fully-paid and non-assessable in the Company's capital stock at a price of $0.08 per share to be issued once full title on all the rights which the Vendor hold on the Properties have been transferred to the Company.

This arm's length transaction is subject to the usual approval of the TSX Venture Exchange and the applicable regulatory authorities.

The "Castellane (Bastiscan)" Asset

The "Castellane (Bastiscan)" property claims consist in the mining rights relating to a property called Castellane which is composed of 40 mining titles covering 1,378,81 hectares. The properties are located in the Montauban, Chavigny and Seigneurie de Grondines-Ouest County at 120 km west of the City of Quebec and 50 km north east of the City of Trois-Rivieres, Quebec.

Certain of the mineralized zones are accessible by paved and / or gravel roads and by VVT.

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