TORONTO, June 1, 2022
/CNW/ - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna"
or the "Company") is pleased to announce that, further
to its news release dated April 21,
2022, it has filed an independent technical report entitled
"NI 43-101 Technical Report Initial Mineral Resource Estimate for
the Margarita Silver Project Chihuahua, Mexico" and dated
May 24, 2022, with an effective date
of April 8, 2022 (the "Technical
Report"). The Technical Report was prepared by Richard M. Gowans, P.Eng., William J. Lewis, P.Geo., Chitrali Sarkar,
M.Sc., P.Geo., and Ing. Alan J. San
Martin, MAusIMM (CP) of Micon International Limited, and
Rodrigo Calles-Montijo, CPG, of
Servicios Geológicos IMEx, S.C. A copy of the Technical Report is
available under Magna's profile on SEDAR.
About Magna Gold Corp.
Magna is a Mexico focused
gold/silver production company engaged in acquiring, exploring,
developing and operating quality precious metals properties in
Mexico. It is committed to
advancing its 100% owned flagship San Francisco Mine, the Margarita
Project and other highly prospective mineral properties located in
Sonora and in Chihuahua. The
primary strength of the Company is the team of highly experienced
mining professionals with a proven track record of developing
properties in Mexico from
discovery to production. Magna employs community members and
services in its operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Arturo Bonillas
President and CEO
Cautionary Statements
This news release includes certain "forward-looking statements"
which are not comprised of historical facts. Forward-looking
statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates",
"may", "could", "would", "will" or "plans". Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no
assurance that actual results will meet management's expectations.
Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, the Company's objectives, goals or future plans,
exploration results, potential mineralization (including estimates
of measured and indicated resources, inferred resources and
probable reserves), exploration and mine development plans,
production (including gold production expectations and guidance),
processing and mining expectations (including statements regarding
expansion and advancement of assets) and strip ratio trends and
expectations. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to failure to identify mineral resources, failure to
convert estimated mineral resources to reserves, the inability to
complete a feasibility study which recommends a production
decision, the preliminary nature of metallurgical test results,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, political risks,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital, operating and reclamation costs
varying significantly from estimates and the other risks involved
in the mineral exploration and development industry, risks related
to the effects of COVID-19 on the Company, and those risks set out
in the Company's public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE Magna Gold Corp.
