CARSON CITY, Nevada, Aug. 31, 2010 (GLOBE NEWSWIRE) -- Mexus Gold U.S. (OTCBB:MXSG), a Nevada Corporation, is pleased to announce it has entered into a purchase contract with Brian Farcy for the 94ft Tug (Caleb), a twin Cummings powered vessel that will also act as a crew quarters accommodating up to an 8 man crew. In addition, Mexus has contracted Mr. Farcy to operate the tug. He has 30 years with Tug and Barge experience in Washington State as well as Alaskan waters. Mr. Farcy has experience with our submarine cable. Mexus is pleased to have Mr. Brian Farcy on board as part of our valued team.
Furthermore, Mexus has completed a contract with Island Tug & Barge Co. for the Deck Barge ITB-230ON 298799. The 236.8ft by 60.1ft by 14.4ft barge can hold up to 6,000,000 lbs. of material. This Barge has a concrete deck evenly spaced with H Beam rungs and a 60" fence around the perimeter that is ideal for our pulling equipment and loading of the cable by Mexus' fully automated track pulling shearing system, specifically designed by Mexus for the cable project. The pulling system has completed the first test runs and is now being readied for shipment to a ship yard in Washington State for installing on the Barge. Completion time is expected to be September 18th.
Mexus Gold U.S. Surveying Boat Purchased. Mexus has purchased a 33' Pro Line offshore boat for the purpose of surveying and identifying the cable on the ocean floor. The boat is big enough to do the work safely but still can be trailered from site to site by road or ferries. Mexus has ordered specially designed underwater electrical equipment, a magtonetor, an underwater cable identifier, remote cameras and a high definition scanning sensor and a cable lift buoy marking system.
President/CEO Paul Thompson stated, "With the purchase of this equipment, and our previously announced contract with PowerCom Services we are ready to rapidly move forward toward collecting cable and starting the generation of multiple revenue streams for Mexus."
About Mexus Gold U.S. (OTCBB:MXSG) is a mining company engaged in the evaluation, acquisition, exploration, salvage and recovery of gold, silver and copper projects in the State of Sonora, Mexico, the Western United States, and Alaska. Mexus Gold U.S. is dedicated to protecting the environment, and providing employment and education opportunities for the communities where they operate. For further information see or download our corporate profile at:
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Forward looking Statement: Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
CONTACT: Mexus Gold U.S. Paul Thompson, President/CEO 775-721-9960 Premier Media Service Inc. Kelly Black (480) 649-8224
