QMX Enters Custom Milling Agreement
November 17, 2014 / TNW-ACCESSWIRE / Toronto, Ontario / QMX Gold Corp. (TSXV:QMX)("QMX" or the "Company") has signed a custom milling agreement with Abcourt Mines Inc.("Abcourt") to process ore from Abcourt's mine in Val d'Or, Quebec. Ore will be processed at the Company's Aurbel Mill also located in Val d'Or, Quebec.
Under the agreement, QMX Gold will be responsible for the handling, milling and refining of ore and tailings disposal from ore delivered by Abcourt. The term of the agreement is six months and a minimum of 50,000 tonnes of ore delivered by Abcourt. QMX has processed an initial =5,000 tonnes of ore shipped from Abcourt's stockpile. Subsequent deliveries will be made in amounts of approximately 5,000-8,000 tonnes per month.
Brett New, President and CEO of QMX Gold, commented: "QMX has found a well-timed opportunity to partner with Abcourt under this custom milling arrangement that benefits both companies. We are now able to supplement our own production with the ore delivered by Abcourt to generate additional cash flow for the Company."
About QMX
QMX Gold Corp. is a Canadian mining company traded on the TSX-V under the symbol "QMX". The company is focusing on mine development and exploration in Quebec and is actively looking for other mining projects for acquisition in the Val d'Or area.
Contact Information:
Brett New, Louis Baribeau, Rob Hopkins,
President and CEO Public Relations Investor Relations
Tel: (416) 861-5904 Tel: (514) 667-2304 Tel: (416) 861-5899
Toll free: +1 877-717-3027
Email: info@qmxgold.ca
Website: www.qmxgold.ca
Cautionary Note Regarding Forward-Looking Information and Mineral Resources:
This press release contains or may be deemed to contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements (express or implied) relating to the custom milling arrangement, the future financial or operating performance of QMX Gold, its properties and/or its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. It should also be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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