BURNABY, British Columbia, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Mineworx Technologies Ltd., (the "Company" or "Mineworx") (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3), a leading provider of proprietary, cost-effective, and non-toxic precious metals extraction solutions to the E-Waste and mining industries is pleased to announce that the U.S. Patent and Trademark Office has recently issued a Notice of Allowance for the Mineworx patent application number 14/097,889 pertaining to “A Portable Mining Apparatus and Methods of Use”.
The technology for which the Notice of Allowance has been issued is the Company’s HM X-tract mobile modular mining/extraction process.
“Our HM X-tract proprietary mining technology, combined with a unique operational system results in an environmentally responsible, non-toxic process for precious metal reclamation which requires no tailings ponds and consumes 80% less water.”, commented Greg Pendura, CEO. “The system is capable of high efficiency recoveries from both alluvial and crushed hard rock deposits as well as being able to process old tailings for remaining value. The new technology allows us to deploy rapidly, process efficiently and decommission quickly in an environmentally sound manner with little capital expenditure and significantly reduced permitting process.”
The HM X-tract will target:
- Deposits previously not minable due to environmental concerns.
- Smaller deposits where large capital expenditures are not justified.
- Deposits in areas where permitting and lack of water prohibit mining.
- On site cleanup of contaminants and hazardous metals such as lead and depleted uranium on military sites and firing ranges.
- Cleanup of any other metallic solids soil contamination.
The Company will be applying to the TSX Venture Exchange for approval to extend the expiry date of 10,491,667 outstanding common share purchase warrants that were issued as part of a non-brokered private placement completed by the company on January 2014. The warrants are exercisable for common shares of Solid Resources and Iberian Minerals (now Mineworx) at a price of 26 cents per share and were previously extended to the current expiry of November 7, 2018. The company is proposing to extend the expiry date of the warrants to 4:30 p.m., Edmonton, Alta., time on January 7, 2019, at such time they will terminate. All other terms and conditions of the warrants, including the exercise price and the accelerated expiry provision, will remain the same. The proposed extension of the expiry is conditional upon the receipt of exchange approval.
Additional details of the warrants are provided in the company's press release dated Jan. 7, 2014.
About Mineworx
Mineworx is positioned for growth through partnerships with advanced mining and E-Waste opportunities utilizing its licensed non-toxic, cyanide-free precious metals formula and the proprietary and patent pending, environmentally friendly, portable extraction technologies. These innovations will increase and enhance business opportunities by deploying cost effective, extractive metallurgy solutions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Mineworx’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Mineworx believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Mineworx does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement
For further information, go to www.mineworx.net
For further information contact:
MINEWORX TECHNOLOGIES LTD.
Rick Gliege, V.P. Corporate Development
250-751-3661
rick@mineworx.net
Tel: (250) 751-3661