TORONTO, ONTARIO -- (Marketwire) -- 12/13/11 -- Mahdia Gold Corp is a publicly listed on the Canadian National Stock Exchange (CNSX) under the symbol MGD. (CNSX:MGD) The company's website is: www.mahdiagold.com. The website of the CNSX exchange is www.cnsx.ca.
Mahdia Gold Corp uses this opportunity to provide an update on its activities on the following;
FINANCING: Mahdia Gold is extending the private placement announced earlier to close at January 2nd, 2012. The company is looking to create relationships with prospective participants who can be beneficial to the company's long term growth.
WHITE CREEK: Mahdia Gold has a team of local workers under the direction of our geologist and our field manager at the White Creek property. Workers are conducting line cutting, mapping and selecting targets for drilling. Mahdia Gold is mobilising TRADO drills and equipment to the White Creek site at this moment. Once the drills are at site, a program of exploration which will lead to targeting for deeper drilling will commence. The company has received a large data set of the work done by the previous operators of the property and is using the data set to help create our going forward exploration program. We expect that our Trado drills to be in place by January 2012. A further press release of the drills and site images will be forthcoming.
OMAI GEOLOGICAL REPORT BY AMEC: Mahdia Gold is awaiting the completion of the AMEC geological report of the OMAI property. Mahdia Gold understands that the report is in draft stage and we hope to receive a final completed version soon, which we will make available.
Mahdia Gold is looking at expanding the land mass around the OMAI mine site to create a larger OMAI block. If we are successful, it would create a larger mineral opportunity for the company. The extended area has never been drilled or explored but lies contiguous to the PL area that Mahdia Gold currently has. There is no guarantee that the extended holds gold but Mahdia Gold is prepared to fully explore it if we are successful in acquiring it.
Mahdia Gold Corp currently has 102,654,020 shares outstanding.
NO SECURITIES REGULATORY AUTHORITY OR STOCK EXCHANGE HAS APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED IN THIS PRESS RELEASE.
Contacts:
Mahdia Gold Corp.
Alan Zaakir or David Bending
416-477-1034
www.mahdiagold.com
Source: Marketwire (December 13, 2011 - 1:24 PM EST)
