Mahdia Provides an Update on the OMAI Property
MISSISSAUGA, ONTARIO--(Marketwire - Aug. 19, 2011) - Mahdia Gold Corp. (CNSX:MGD) ("Mahdia Gold") is a publicly listed on the Canadian National Stock Exchange (CNSX) under the symbol MGD. The company's website is: www.mahdiagold.com. The website of the CNSX exchange is www.cnsx.ca.
Mahdia Gold Corp. is pleased to announce that the company has signed an agreement with AMEC of Canada where AMEC will provide engineering assistance to Mahdia Gold on the OMAI gold property. AMEC is one of Canada's largest engineering firms. Information on AMEC can be found on their website at www.amec.com. Mahdia Gold encourages all shareholders and interested parties to visit the AMEC website. Mahdia Gold intends to partner with the engineering skills of AMEC for the life of the OMAI property.
Mahdia Gold Corp wishes to announce that it is preparing a NI 43-101 mineral report on the OMAI property. There has been no mineral report on the OMAI property since it was closed almost a decade ago. Mahdia Gold intends to establish a clear picture of the potential of the OMAI gold property as of year 2011, based on a sound review by AMEC of the all historical data, many of which has never been made public. Upon completion, the NI 43-101 mineral report on Omai will be made public in its entirety. The estimated date of completion of the N43-101 report is October 2011. The OMAI gold property represents a significant opportunity for Mahdia Gold to grow and to enhance shareholder value.
On Tiger River, Mahdia Gold has just completed a site visit in August 2011. Mahdia Gold is dealing with a minor litigation matter in Guyana concerning the nine Tiger River blocks. The company considers it a minor nuisance. Mahdia Gold expects to rapidly have it dismissed in Guyana.
Shareholders should note that Mahdia Gold is on the Tiger River property and conducted a phase one of a survey that ended this month on August 9th, 2011. Mahdia Gold will now establish a base camp on Tiger River to identify targets for next stage exploratory work.
Mahdia Gold Corp. currently has 92,024,020 shares outstanding.
No securities regulatory authority or stock exchange has approved or disapproved of the information contained in this press release.
Source: Marketwire Canada (August 19, 2011 - 12:45 PM EDT)
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