Advanced Gold signs MOU to acquire Nevada silver-gold properties

Advanced Gold Exploration Inc. has signed a non-binding memorandum of understanding with Ameerex Corporation to acquire the Corcoran Canyon Silver-Gold Property and the Belmont Properties in Nye County, Nevada.

Under the agreement, Advanced Gold will assume the rights and obligations to acquire 100% of North American Silver Corporation and Centennial Mining from Electric Metals (USA) Limited. The Corcoran Canyon site is described as a low-sulfidation epithermal silver-gold system. According to historical filings, the area contains an inferred resource of approximately 39 million ounces of silver equivalent. The company aims to advance the project from inferred to indicated status and expand known mineralization.