LAS VEGAS, Oct. 31, 2023 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation (OTC: GEMZ) ("GEMXX" or the "Company"), a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold exploration Company Crazy Horse Mining, Inc. (“CHMI” or “Crazy Horse”), is highlighting recent significant achievements to update new and existing investors prior to releasing quarter-end financial reporting.
Current State - GEMXX has achieved significant milestones recently and it's worth noting that the Company continues to control each stage of its production, including gold mining, gemstone production, jewelry manufacturing and global distribution. Further, the Company continues to expand while avoiding long-term debt.
"We are tremendously pleased with the development of the Company over the past several months and we are extremely excited for the anticipated growth. We look forward to updating shareholders as each milestone below is met. Everything the Company has planned is focused on driving shareholder value," commented Jay Maull, GEMXX CEO.
2023 and Beyond, Looking Forward - For the balance of 2023 and into 2024, the Company is focused on expansion and adding shareholder value. That means more acquisitions, more mine production and more revenues.
Targets
- Complete the 50% acquisition of the Yukon Gold Property and initiate a pilot mine on that site.
- Bring the Ammolite Gemstone mine into full production.
- Upscale the gold mine operation at Snow Creek and move the test plant to Rosella Creek.
- Complete S-K 1300 compliant resource reports on already owned assets.
- Complete audits to be quoted on the OTCQX, which will be the first step to up-listing to the New York Stock Exchange or NASDAQ.
Recent Milestones
Oct 24, 2023, GEMXX, in partnership with Crazy Horse Mining, Inc. (CMHI), has successfully completed its third and final clean-out and recording of gold production at the Snow Creek Mine site for the 2023 mining test season, processing a total of 31,200 cubic yards of gold-bearing ore yielding 0.929 ounces per 100 cubic yards. The production results have met all expectations. Read more here.
Oct 3, 2023, the Company engaged Aurora Geosciences to complete S-K 1300 technical reports on assets already owned and operated by the Company. These assets currently have no value assigned to them in the Company’s financials. Read more here.
Sept 26, 2023, GEMXX announced it has signed a binding Letter of Intent (“Proposed Transaction”) to acquire an initial 50% stake in The Yukon Gold Project (“the Property”), pending conclusion of due diligence. The reports provided to GEMXX claim the Property hosts somewhere between 2,210,660 and as much as 4 million ounces of gold. The Company has not verified the historic resource classification or volume but remains optimistic that it speaks to the property’s potential. Read more here.
Sept 12, 2023, to meet the growing demand for its products, GEMXX has planned to expand gemstone and jewelry production by 300% year over year. The Company’s shopping channel division is preparing to supply $5.5 million worth of Ammolite gemstones and jewelry over the next 12 months for Ammolite gemstones in jewelry designs by Kenneth Bradley. Read more here.
July 18, 2023, GEMXX announced it has secured 75% of mining costs for both its Gold and Ammolite initiatives. The involvement of new investors and strategic partners further strengthens GEMXX's financial position and supports its growth plan. This includes mine and process facility expansion and increased production to meet global demand for its products. Read more here.
March 14, 2023, the Company announced that it has acquired a 50% interest in the Canadian exploration company Crazy Horse Mining Inc. (“CHMI”). Crazy Horse Mining Inc. assets include 100% interest in two gold projects, Snow Creek and Rosella Creek. Read more here.
March 23, 2023, the Company announced that it had signed an Ammolite Master Supply Agreement (“MSA”) with Canadian Ammolite Gems by Kenneth Bradley. Kenneth Bradley is one of the World’s most recognized Ammolite experts and is a Canadian influencer with a global following that continues to grow. Read more here.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the Ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
ABOUT CRAZY HORSE MINING INC.
Crazy Horse Mining Inc. is a Canadian Junior resource company with significant gold assets in British Columbia, Canada. In partnership with GEMXX, CHMI aims to unlock the potential of its gold-bearing properties.
ABOUT CANADIAN AMMOLITE GEMS BY KENNETH BRADLEY
Kenneth Bradley is one of the world’s most recognized ammolite experts with a worldwide following that continues to grow. As a Canadian influencer, Kenneth Bradley will host multiple ammolite events annually that feature stunning ammolite gems curated by GEMXX’s world-class gemstone cutters. Bradley has been developing and marketing luxury jewelry for 30 years, making him the perfect host to showcase the stunningly beautiful GEMXX Ammolite gemstones.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed.
/S/ Jay Maull
For more information, please contact:
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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