Goldex Signs Joint Venture Agreement on Mali Gold Project
February 26, 2018
VANCOUVER, BC – Goldex Resources Corporation (TSX VENTURE: GDX, Frankfurt: WKN-A2AEDT, Ticker: G6T2) (“Goldex” or the “Company”) is pleased to announce that it has signed a joint venture agreement (“JV”) to explore and develop a gold license area consisting of 143 square kilometers in Mali Africa (the “Korokoro”). Signatories to the JV are Geo-Sys-Tech S.A.R.L. (“GEO”) and RexMetal S.A.R.L. (“REX”). GEO has the right to acquire a 90% interest in the license for 750,000 Euro of which 350,000 Euro’s has been paid. GEO has established an exploration program over the Korokoro license area and has obtained a small-scale mining license under which it can produce up to 15 kilograms of gold per month. Under the terms of the small-scale mining license GEO has set-up and is operating a pilot plant currently able to process ten (10) tonnes of ore per hour. Under the terms of the JV GEO and REX will transfer their interests to a new company to be incorporated. Goldex will become the operator with a 51% interest in the joint venture and the license. Under the terms of the JV Goldex will complete a 43-101 report and pay to REX 400,000 Euro at the rate of 33,000 Euro per month (the “Purchase Price”). It is the intention of the joint venture to further develop the property and apply for a large-scale mining license.
The Korokoro property is accessed by road and is located 54 kilometers from the Morila mine (Randgold) which has produced over 7 million ounces of gold. Other mines further west are the Syama mine (11. 5 M oz. – Resolute Mining) and the Tongon mine (7.5 M oz. – Randgold). To the west is the Siguiri mine (7m oz. – AngloGold – Ashanti), and to the northwest are the Loulo mine (12 M oz. – Randgold) and the Sadilola mine (13.5 M oz. – Iamgold).
The Board of Directors are very pleased with this new JV and look forward the development of the Company’s first property in Mali Africa’s third biggest gold producer.
CHARLES ROSS, President
GOLDEX RESOURCES CORPORATION
For more information please visit: www.goldex.ca
Neither the 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.
Forward-Looking Statements
The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
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Telephone: (604) 699-4300
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www.goldex.ca
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