Collective Mining

Minaurum Gold Announces Biricu Drill Results and Provides Update

Vancouver, British Columbia--(Newsfile Corp. - January 10, 2017) - Minaurum Gold Inc. (TSXV: MGG) ("Minaurum") is pleased to announce drill results from Guerrero Ventures Inc.'s ("Guerrero") 41,000 hectare Biricú project in the Guerrero Gold Belt in southern Mexico. Biricú shows typical Guerrero Gold Belt host rocks cut by intrusive rocks identical to those seen in Goldcorp's neighbouring Los Filos Mine and Torex Gold's nearby Media Luna deposit. It borders Minaurum's Vuelcos del Destino project to the east and south.

In addition, Guerrero has informed Minaurum that the required exploration expenditures and obligations of the underlying Biricú option agreement between Alamos Gold Inc. ("Alamos") and Guerrero have been fulfilled and accepted by Alamos. Alamos is currently transferring a 100% interest in the Biricú project to Guerrero. As previously disclosed on November 4 and December 4, 2015, Minaurum loaned Guerrero funds to explore Biricú.

Guerrero's 4,200-m exploration drill program tested a combination of principal target areas (Punto Rojo and Hornfels Hill), and outlying geologic and geophysical targets. Four of the 9 holes drilled (GV2015-13 through -15, and -17) intercepted significant zones of anomalous gold mineralization (100 ppb Au).

All of the anomalous holes are located in the Punto Rojo area, a 1 square km diatreme complex that is intruded by diorite-granodiorite stocks of Guerrero Gold Belt affinity. The system remains open and untested to the north and at depth to the contact of the Mezcala Formation with the underlying Morelos Formation. Surface mapping and drilling indicate this highly prospective contact zone lies at shallower depths farther north in the Punto Rojo area. Results of the anomalous holes are shown in Table 1 below.

"The recent drilling at Punto Rojo reveals gold mineralization and extensive alteration that are similar in style to that of Torex Gold's nearby Media Luna deposit," stated David M. Jones, Senior Consulting Geologist and Director of Minaurum. "These results indicate that the as yet undrilled northern area of Punto Rojo is an attractive target for stronger, near-surface mineralization."

Table 1. Biricú Project, Punto Rojo area drill intercepts. UTM coordinates correspond to WGS84 datum, zone 14N.

Hole

Composite
Interval (m)

Depth

Weight-average
Au ppb

GV2015-013

17.04

 

239

 Vertical hole. TD: 692.4m

includes:

14.52-18.88

100

 Collar coordinates: 438344E, 1975806N

 

64.20-67.20

188

Collar elev: 534m

 

75.50-78.94

122

 

 

520.44-526.68

425

GV2015-014

117.78

 

191

 Vertical hole. TD: 708.4m

includes:

148.41-165.70

235

 Collar coordinates: 438520E, 1976346N

 

192.50-197.50

148

 Collar elev: 574m

 

247.30-271.30

244

 

 

283.00-290.15

171

 

 

314.65-339.00

152

 

 

345.15-348.55

126

 

 

358.00-361.10

172

 

 

387.13-390.13

103

 

 

411.90-417.70

409

 

 

420.90-427.00

182

 

 

479.00-487.60

113

 

 

502.50-505.50

104

 

 

528.28-535.90

132

GV2015-015

1.19

18.00-19.19

1100

 Vertical hole. TD: 235.3m

 

 

 

 Collar coordinates: 437999E, 1976770N

 

 

 

 Collar elev: 797m

 

 

 

GV2015-017

9.47

 

116

 Vertical hole. TD: 494.8m

includes:

72.35-78.22

123

 Collar coordinates: 438415E, 1975919N

 

450.00-451.60

107

 Collar elev: 552m

 

467.60-469.60

105


Previous drill highlights include: 26.98m grading 1.07 g/t gold and 0.29 g/t silver, including a zone of 6.85m grading 2.78 g/t gold and 0.92 g/t silver; 1.68m grading 0.83 g/t gold and 3.10 g/t silver (see Guerrero's News Release Dated January 26, 2015). In addition, a VTEM airborne magnetic and electromagnetic survey of 1,403 line kilometres was completed in September 2012. A follow-up airborne gradiometer magnetic survey of 2,052 line kilometers was completed in January 2015. Besides the Punto Rojo target, the Biricú Project hosts considerable potential in the southern portion of the project where intrusive rocks and unexplained geophysical anomalies remain to be tested.

Guerrero received a loan from Minaurum to explore Biricu (see Minaurum News Release dated November 4, 2015). The loan bears interest at 8% and can be repaid at Minaurum's choice in either cash or a direct interest in Biricu.

Minaurum also announces that it has granted 950,000 incentive stock options under its stock option plan to consultants of the Company. The options are exercisable at a price of $0.10 per share for a period of five years. The Company also announces that 250,000 options granted to a consultant on June 30, 2014, which had a 5 year term and a $0.10 exercise price, have been cancelled.

Minaurum is a Mexican explorer focused on three strategic areas: southern Sonora State, the Oaxaca-Chiapas region and the Guerrero Gold Belt. It is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by finding new district-scale mineral discoveries and executing accretive mining transactions. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel.

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