TORONTO, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Golden Share Resources Corporation (“Golden Share” or the “Company”) (TSXV: GSH) is pleased to announce that it has entered into an Agreement for Commercializing Technology (“Agreement”) with Battelle Memorial Institute, through its Pacific Northwest Division (“BATTELLE”), operator of the Pacific Northwest National Laboratory (“PNNL”) for the U.S. Department of Energy (“DOE”).
Under this agreement, PNNL will perform research and development related to novel vanadium based solid-state battery technologies. In its proposed solid-state form, the vanadium battery will have various advantages of high energy density and potentially significantly simplified battery cell design, different from both traditional solid-state and redox flow batteries. PNNL will also continue to further develop high energy density vanadium redox flow battery electrolyte.
The term of the Agreement is 24 months. The estimated cost of US$906,000 will be assumed by Golden Share, with US$100,000 payable immediately and the balance payable monthly against invoices submitted by Battelle. The Agreement provides that PNNL will provide a high standard of professional service on a best efforts basis.
“At Golden Share, we are honored and excited to have the opportunity to work with PNNL and to benefit from its highly specialized facilities, service and technical expertise,” stated Nick Zeng, Golden Share’s President and CEO. “Golden Share’s strategy is to remain fully engaged in this exciting nascent industry while optimizing use of its financial and management resources. We are pleased and proud of the achievements made at Golden Share so far.”
On May 24, 2016, Golden Share signed a Strategic Partnership Agreement with NWME for high purity vanadium produced from NWME’s Qianjiaping Vanadium Mine. (Please refer to the Press Release dated May 24, 2016)
On October 12, 2016, Golden Share signed a License Agreement with Battelle to produce, use and sell vanadium electrolytes developed by PNNL. The Licensed Vanadium Electrolytes have advantages over previous generations, including a wider temperature-operating range and higher energy density. (Please refer to the Press Release dated October 18, 2016.)
On February 28, 2017, the Company successfully trial produced the Licensed Vanadium Electrolyte, which was developed by PNNL. (Please refer to the Press Release dated February 28, 2017.)
About PNNL
Interdisciplinary teams at Pacific Northwest National Laboratory (PNNL) address many of America's most pressing issues in energy, the environment and national security through advances in basic and applied science. PNNL employs 4,400 staff, has an annual budget of nearly US$1 billion, and has been managed for the U.S. Department of Energy by Ohio-based Battelle since the laboratory's inception in 1965.
About NWME
Northwest Mining & Exploration Group Co., Ltd. For Nonferrous Metals (NWME) is a large Chinese State-owned Enterprise. NWME has invested more than 20 mines involving gold, silver, copper, lead, zinc, vanadium, molybdenum etc. through exploration and development in China and overseas.
The Qianjiaping Vanadium Mine (Qianjiaping) of NWME, located in Shaanxi Province, China. Qianjiaping was put into production in 2011 and is an environmental friendly mine with complete production, management and safety systems. Qianjiaping is the largest operating primary vanadium mine in China.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing, cost and success of the research and development program described above. Although the Company believes the expectations reflected in such statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include that PNNL will successfully develop the battery described above within a 24-month period, at a cost of no more than US$906,000. Factors that could cause actual results to differ materially from expectations include PNNL’s inability to develop the battery on time, within budget or at all due to technical, personnel or other obstacles. A description of other risks affecting the Company’s business and activities appears under the heading "Risks " on page 15 of its 2016 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. The Company disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event, except as required under applicable law. The reader is warned against undue reliance on these forward-looking statements.
Neither 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.
For more information, please visit www.goldenshare.ca or contact:
Golden Share Resources Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@goldenshare.ca