Vangold Completes Acquisition of Historic El Pinguico Mine, Guanajuato, Mexico
Vangold Completes Acquisition of Historic El Pinguico Mine,
Guanajuato, Mexico
Thursday, April 27, 2017
Vangold Resources Ltd., Vancouver, BC ("Vangold") (TSX:VAN) (OTC:VNGRF) is pleased to announce the
closing of its acquisition of a 100% interest in the El Pinguico Property a nd historic mine located 10 km
from the City of Guanajuato, Mexico (the "Acquisition") – see news release dated January 05, 2017.
Under the terms of the acq uisition, Vangold has acquired 100% ownership of rights and title to the El
Pinguico mining claims #166665 and #165491, totaling 71 hectares . Pursuant to the Acquisition, the
Company has paid US$100,000 and issued 5,000,000 common shares to the vendors, Exploraciones
Mineras Del Bajio, SA de CV (EMDB) and will issue 662,500 common shares as a finder fee. All securities
issued will be subject to a hold period expiring August 27, 2017
Cameron King, President and CEO of Vangold said, "I would like to take t his opportunity to personally
thank EMDB for their continuous support in working towards the closing and bringing this valuable asset
into Vangold. Our shareholders have also provided the Company great support and confidence in our
corporate strategy of p urchasing undervalued silver and gold properties with a focus of unlocking the
true potential of these assets through continuous exploration and mine development."
ABOUT “EL PINGUICO MINE”
Once one of Mexico ’s most prolific silver and gold mines with grades over 9 g/t Au and over 900 g/t Ag,
with a 15 g/ t Au eq. cutoff grade, as documented assays found in the detailed mine development plans
performed between 1906 to 1910. Technical reports issued in 1907 by experts in the differ ent areas
(geology, mining, metallurgy and finance) provide documented evidence of the once profitable
producer. [Prof. Robert T. Hill, 1910, Report upon the Properties of The Pinguico Mines Company, The
Securities Corporation Ltd. NY, NY]. In 1913, due to the Mexican Revolution, th e El Pinguico Mine
ceased operations, leaving behind several hundred thousand tons of broken ore in the u nderground
stopes and the unmined vein system continuing at depth and length.
Through several gold and silver cycles since the turn of the Century, The Pinguico mine has been a point
of discussion to be put back into production . In 1959, an extensive geological assessment was
undertaken, assays grade average of 2.72 g/t Au and 251 g/t Ag were reported, with v arious samples
throughout the underground stock pile showing grades over 5 g/ t Au and 500 g/t Ag. (CRM Mexican
Geological Survey 1959, ESTUDIO GEOLOGICO MINERO DE LA ZONA "EL PINGUICO" DISTRITO MINERO
DE GUANAJUATO, GTO, Authors: Ing. Edgardo Meave T., Ing. Juan M Gómez, Ing. José Nava Arrieta)
Not until 2012, was th ere additional work conducted in the mine, a sizeable assay program and mine
plan development was led by Exploraciones Mineras Del Bajio and undertaken by Servicio Geologico
Mexicano - SGM (Mexican Geological Survey), showing a potential underground broken ore with
average grades of 1.6 g/ t of Au and 143 g/t of Ag. [SGM, 2012, Certificacion de Reservas Mineral
Quebrado en la mina “El Carmen -El Pinguico” Municipio de Guanajuato, Gto. For qualifications and key
assumptions, see the Company’s news release dated January 5, 2017].
In February 2017, Vangold performed a similar assay program under 43 -101 protocols, realized a n 8%
improvement in grade at 1.75g/t Au and 1 84 g/t Ag. Of specific interest, assays from the north end
trench samples F-001 to F-005, of the underground stock pile, report a range of 3.78 g/t Au and 558 g/t
Ag to 15.70 g/t Au and 1,475 g/t Ag. These results are attributed to fines falling from t he exposed Dos
Estrellas vein stope onto the stock pile. (Vangold 43-101 Report Feb. 28, 2017, Carlos Cham QP, filed on
SEDAR April 27, 2017)
Table 1 Assay Results for 2017 Trench Samples (Samples Collected by the Author) from El Pinguico
Underground Stockpile
GENERAL MIDDLE VALUES OF THE EL PINGUICO STOCKPILE MIDDLE VALUES PER TRENCH
TRENCH SAMPLE WIDTH (m) Au
(gr/ton)
Ag
(gr/ton) WIDTH (m) Au
(gr/ton)
Ag
(gr/ton)
1
F-052 4.00 1.145 20
12.00 1.14 60.10
STANDARD
F-054 4.00 1.005 27.3
F-055 4.00 1.27 133
2
F-049 3.50 0.672 49
10.50 0.63 66.97 F-050 3.50 0.304 32.9
F-051 3.50 0.902 119
3
F-046 2.50 2.45 226
7.50 2.08 194.33 F-047 2.50 1.855 182
F-048 2.50 1.93 175
4 F-041 3.50 0.816 87.4 14.00 1.57 147.08
GENERAL MIDDLE VALUES OF THE EL PINGUICO STOCKPILE MIDDLE VALUES PER TRENCH
TRENCH SAMPLE WIDTH (m) Au
(gr/ton)
Ag
(gr/ton) WIDTH (m) Au
(gr/ton)
Ag
(gr/ton)
F-042 3.50 1.965 185
BLANK
F-044 3.50 2.66 242
F-045 3.50 0.832 73.9
6
F-038 2.20 3.21 270
6.60 1.63 135.13 F-039 2.20 0.662 60.5
F-040 2.20 1.02 74.9
7
F-036 1.60 0.531 61.5
3.20 0.84 102.75
F-037 1.60 1.14 144
8
F-034 1.30 1.895 153
2.60 1.57 116.25
F-035 1.30 1.24 79.5
9
F-029 1.75 0.648 48.8
7.00 1.71 121.23
F-030 1.75 0.736 70.1
F-031 1.75 1.65 144
F-032 1.75 3.79 222
STANDARD
10
F-025 2.20 0.214 20.4
8.80 0.42 47.55
F-026 2.20 0.403 30.5
F-027 2.20 0.596 73.5
F-028 2.20 0.451 65.8
11 F-022 2.00 1.08 207 6.00 1.21 173.67
GENERAL MIDDLE VALUES OF THE EL PINGUICO STOCKPILE MIDDLE VALUES PER TRENCH
TRENCH SAMPLE WIDTH (m) Au
(gr/ton)
Ag
(gr/ton) WIDTH (m) Au
(gr/ton)
Ag
(gr/ton)
F-023 2.00 1.48 174
F-024 2.00 1.055 140
13
F-014 3.00 1.895 186
9.00 1.16 108.20 F-015 3.00 1.105 94.8
F-016 3.00 0.476 43.8
14
F-012 2.50 1.3 146
5.00 1.32 132.50
F-013 2.50 1.345 119
15
F-009 3.75 1.015 118
7.50 1.00 100.55 F-010 3.75 0.978 83.1
BLANK
16
F-007 2.00 0.657 49.4
4.00 0.34 25.75
F-008 2.00 0.021 2.1
17
F-005 2.75 3.78 558
5.50 2.93 452.00
F-006 2.75 2.08 346
18
F-003 2.00 15.7 1475
4.00 10.73 1042.00
F-004 2.00 5.75 609
19
F-001 2.00 4.83 466
4.00 5.68 709.00
F-002 2.00 6.52 952
16-A
F-064 1.57 2.2 255
4.71 1.72 250.00 F-065 1.57 1.47 216
F-066 1.57 1.495 279
GENERAL MIDDLE VALUES OF THE EL PINGUICO STOCKPILE MIDDLE VALUES PER TRENCH
TRENCH SAMPLE WIDTH (m) Au
(gr/ton)
Ag
(gr/ton) WIDTH (m) Au
(gr/ton)
Ag
(gr/ton)
17-A
F-062 2.00 1.24 383
2.00 1.24 383.00
F-063 STD 0.992 66.1
18-A
F-060 2.20 1.135 131
4.40 1.95 194.50
F-061 2.20 2.76 258
The pote ntial of el Pinguico claims is important, where the main targets are to e xplore the lower
Pinguico vein below the existing old workings. Also , the potential intersection of the Pinguico vein with
the Mother Vein , which has been the most important ore source of the area, producing over a billion
ounces of silver since 1500’s. In addition of these 2 main targets, the exploration and understanding of
the existing exposed veins such as the San Jose vein, Pachuca vein, el Pirul vein, La J oya vein and el Pino
vein have been targeted for immediate exploration programs.
ABOUT VANGOLD MINING
Vangold is a development stage silver and gold company focused on production in Mexico . Vangold is
aggressively pursuing its business plan of becoming a producer through the development of its existing
mineral property assets and the pursuit through acquisition of additional mineral assets which
contribute to Vangold achieving its aggressive corporate growth objectives.
Qualified Persons
The disclosure of historical, scientific or technical information regarding the Property in this news
release has been reviewed and approved by Mr. Hernan Dorado Smith, Director. Mr. Dorado is a
Qualified Person (QP) by the Mining and Metallurgical Society of America (MMSA) as defined in National
Instrument 43-101 and has reviewed and approved the contents of the news releases.
ON BEHALF OF THE BOARD OF VANGOLD RESOURCES LTD.
Cameron King, President & CEO
Contact Information:
Vangold Resources Ltd.
1400-1111 West Georgia Street,
Vancouver BC, V6E 4M3
T: +1 604 499 6545 W: www.vangold.ca
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain "Forward -Looking Statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release,
the words "anticipate", "belie ve", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar
words or expressions, identify forward-looking statements or information.
These statements reflect the Company's current views with respect to future events and are nec essarily based
upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many
factors, both know n and unknown, could cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied by such forward -
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many of these factors.
Investors are cautioned against attributing undue certainty to forward -looking statements or information. Although
the Company has attempted to identify important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be anticipated, estimated or intended. The Company does not
intend, and does not assume any obligation, to update these forward -looking statements or informati on to reflect
changes in assumptions or changes in circumstances or any other events affecting such statements or information,
other than as required by applicable law.
None of the securities anticipated to be issued pursuant to the Arrangement have been o r will be registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and
any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from
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