Maxam Gold Corporation Announced Today That Pembina Limitada Will Be Using Equipment Supplied by Goldfield International

Thu Feb 14, 2013 1:11pm EST

* Reuters is not responsible for the content in this press release.

For best results when printing this announcement, please click on the link

LAS VEGAS,  Feb. 14, 2013  /PRNewswire/ -- Maxam Gold Corporation (OTCPINK:
MXAM), a gold mining and development company,
announced today that a equipment supplied by Goldfield International will be the
processing equipment for Pembina.

A new state of the art mineral extraction system, supplied by Goldfield
International, Inc. ("Goldfield") of  Provo, Utah  will be employed for the
separation and recovery of gold from the mined materials.  This planned system
is comprised of an Alaskan 100 Wash Plant, capable of handling 100 YPH, followed
by a 42" Duplex Jig and a 42" quadplex jig.  The final section of the recovery
system consists of a 30" duplex jig, a 24" round Jig, a 24" magnetic separator
and a Goldtron concentrator table. Water for the operation of the
extraction/recovery system will be provided by an 8" diesel water pump.  

The company's  purchase  of U.S. manufactured equipment will afford it the use
of Political Risk, Currency Conversion and other insurance benefits the U.S
Governments Overseas Protection Insurance Corporation ("OPIC"). The Company
anticipates that once the equipment clears customs in  Nicaragua, it will take
from four to six weeks to transport it to its mining site, set it up and place
it into production.  

Per company Director, Mr.  Delgado Lopez, mechanized mining operations in the
concession area yield recoveries ranging from 3.0 to 4.5+ grams of gold per
cubic meter of gravel processed. Geological reports estimate there are
approximately 5,824,000 cubic meters of gold bearing material in these areas in
and around the districts river system.  

Pembina Limitada, S.A. will start processing 100 to 150 metric tons per day and
will increase production as more equipment is delivered to the concession. The
company projects that this will result in revenue of approximately  $700,000 
per month in gold recovered, with a preliminary cost of  $250,000, which is a
profit margin of 64%, or  $450,000  per month. The overall profitability will
increase as more heavy equipment is acquired and put into production.  

About Maxam Gold Corporation.  

Maxam Gold Corporation is a leading gold mining and Development Company based in
 Nevada  with claims in the western  United States  and Nicaragua.  Maxam Gold
Corporation was formed in 1975 and has been involved in the mining and
exploration of gold since 1985. The current expansion in the price of gold has
revitalized the company and its policy of acquiring gold production through
acquisition of gold productions company and providing the capital to expand the
profitability and production of current operations.  

This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.The words or phrases "would
be," "would allow," "intends to'" "will likely result," "are expected to," "will
continue," "anticipate," "expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar expressions are
intended to identify "forward-looking statements." Actual results could differ
materially from those projected in the forward-looking statements as a result of
a number of risks and uncertainties. These include the company's historic lack
of profitability, end user customer acceptance and actual demand, which may
differ significantly from expectations, the need for the company to manage its
growth, the need to raise funds for operations and other risks within the
regulation of the industry. Statements made herein are as of the date of this
press release and should not be relied upon as of any subsequent date. The
Company's past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company specifically
disclaims any obligation, to update any forward-looking statements to reflect
occurrences, developments, events or circumstances after the date of such

Contact:  Charles Langill,  company website


SOURCE  Maxam Gold Corporation

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.