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Thursday, 30th October 2008 (1059 views)

Excel Gold Mining has revealed that it has signed a non binding letter of intent for the ownership of the Evezza property in the Matagami mining camp.

According to the Canadian mining firm, the property covers 113 claims across an area of 6,309.49 hectares with "an excellent discovery potential".

Excel Gold Mining believes that the 100 per cent acquisition of the property in the middle of the Matagami mining camp adds to its strong foothold in the province of Quebec

The deal, if it goes ahead, will involve the transfer of Excel Gold Mining capital stock in exchange for the prospect site, which is around 250km north of the city of Val-d'Or, Quebec.

Based in Quebec City and formerly known as Tom Exploration, Excel Gold Mining engages in the exploration and development of mineral deposits in Canada and owns a 50 per cent interest in the Blondeau property, a 100 per cent interest in the Ogden property and an option to acquire Jake mining assets in the area of Val-d'Or.

 

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