BURNABY, BRITISH COLUMBIA–(Marketwired – June 14, 2017) – Mineworx Technologies Ltd., formerly Iberian Minerals Ltd. (the “Company” or “Mineworx“) (TSX VENTURE:MWX)(OTCQB:MWXRF)(FRANKFURT:YRS)(WKN:A2DSW3) announced today a joint venture with EnviroLeach Technologies Inc. (CSE:ETI)(CSE:ETI.CN)(CNSX:ETI)(OTCQB:EVLLF)(FRANKFURT:7N2)(WKN:A2DQUC) for ongoing collaboration in the E-Waste sector.
The strategic relationship was created in an effort to capitalize on the assets and skill sets of both parties to develop an innovative, turn-key and environmentally friendly solution for E-Waste processing. The joint venture will be based on 20% of net profits payable to Mineworx. In return for its share in the joint venture, Mineworx will provide its engineering design and fabrication capabilities and will transfer the ownership of its prototype HM X-Mill and all applicable components to EnviroLeach. Mineworx will also grant EnviroLeach an exclusive license to use the patent pending HM X-Mill technology in all E-Waste processing solutions globally. EnviroLeach will be the manager of the Partnership.
Greg Pendura, the CEO of Mineworx reports: “Both teams have worked together extremely well and with a common focus over the last 6 months pursuing the E-Waste processing initiative. We are very pleased with our accomplishments to date and are excited to be working with the EnviroLeach team on an ongoing basis attaining traction within this explosive growth industry.”
Duane Nelson, the President and CEO of EnviroLeach states: “We are all very excited about the development of this unique plant and the on-going relationship with Mineworx. It will leverage and extend the Mineworx team’s expertise in design-build capabilities to the development of specialized industrial modular process systems and facility construction for the deployment of EnviroLeach systems globally. We are confident that this new “green” initiative will drive new immediate and long term revenue channels to Mineworx.”
Mineworx is positioned for growth through partnerships with advanced mining and e-Waste opportunities utilizing its licensed cyanide-free precious metals extraction formula and patent-pending portable extraction technologies. These three innovations will increase and enhance business opportunities by deploying cost effective, environmentally friendly extractive metallurgy solutions. This unique business model will provide shareholders with consistent revenue growth while minimizing capital costs and project risk.
EnviroLeach is a Canadian technology company that has developed proprietary environmentally friendly formulas and processes to recover strategic and precious metals from ores, concentrates and electronic waste. The company has developed a unique, cost-effective alternative to the current toxic methods used in the hydrometallurgical extraction of precious metals for the mining and Electronic Waste (E-Waste) sectors. The primary ingredients of the EnviroLeach formula are FDA approved food-grade additives.
For further information, go to www.mineworx.net.
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.
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V.P. Corporate Development