NMEX Signs Letter of Intent for Development of Mexican Caribbean Resort Property
Northern Minerals & Exploration Ltd
QUITMAN, Texas, September 27, 2017 (Newswire.com) - Northern Minerals & Exploration Ltd. (OTCPK: NMEX) (“Northern” or the “Company”) has entered into a Letter of Intent (“LOI”) with a private Mexican entity to work together and conduct due diligence for participating in projects in Mexico with an initial emphasis on a property (“Property”) in the State of Quintana Roo.
About Quintana Roo:
Quintana Roo, officially the Free and Sovereign State of Quintana Roo or Estado Libre y Soberano de Quintana Roo, and often referred to as “The Mexican Caribbean” is a state of Mexico that is part of the Yucatan Peninsula, with a shoreline along the Caribbean that has grown in just a few decades into a major tourism destination. It includes world-class resorts built specifically for the Yanqui/Euro tropical vacation business, small communities with a more local Maya-Mexicano character, and fascinating ancient Maya archaeological sites.
Great Vacation Destination:
Nearly 10 million people visited the state of Quintana Roo last year, according to the Tourism Secretariat of Quintana Roo (SEDETUR).
The Property is a part of the Riviera Maya & is located near the recently discovered Ichkabal Mayan ruins and is situated on the Caribbean coast of the Yucatan Peninsula.
NMEX considers the Property to have great potential for resort development.
Ivan Webb, Vice President, stated he is very impressed with the opportunity for NMEX to expand into other markets while continuing to develop its Texas oil and gas operations and other mineral projects.
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers’ preferences and trends. The words “estimate,” “possible,” “seeking,” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.
Source: Northern Minerals & Exploration Ltd.