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Monday, 16th February 2009 (1760 views)

Excel Gold Mining has announced that it has purchased the Evezza property following final negotiations with its owners.

According to the Canadian gold mining company, 100 per cent of the property has now been transferred to Excel Gold in exchange for 5,850,000 units consisting of one fully-paid common share valued and one half share purchase warrant valid for 24 months from the closing date of the deal.

Located in the Matagami mining camp, the Evezza project covers 113 claims across an area of 6,309.49 hectares 250km north of the city of Val D'Or.

Based in Quebec, Excel Gold Mining reported in October 2008 that it had signed a non binding letter of intent for ownership of the Evezza property and felt that it had "an excellent discovery potential".

The exploration and development firm, formerly known as Tom Exploration, is attempting to increase its foothold in the Canadian province of Quebec.

 

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