SOURCE: Bullion Monarch Mining Inc.

February 28, 2011 15:11 ET

Bullion Monarch Subsidiary EnShale Energy Receives Notice of Allowability for Oil Shale Patent

ST. GEORGE, UT--(Marketwire - February 28, 2011) - Bullion Monarch Mining Inc., (OTCBB: BULM) (OTCQB: BULM) is pleased to announce that its subsidiary, EnShale Energy, has received a notice of allowability by the United States Patent and Trademark Office for a patent on its oil shale processing technology. EnShale has also applied for patents in the foreign countries of Australia, Canada, Brazil, Estonia, and China.

EnShale Energy was established in 2005 to capitalize on the rising demand for liquid petroleum. Since its inception, EnShale has reached several important corporate milestones:

  • Acquired approximately 4,650 acres of oil shale leases from the state of Utah.
  • Had an independent geologist estimate an oil resource of over 650 million barrels.
  • Developed technology for processing oil shale to extract oil.
  • Engineered and constructed a pilot plant capable of processing up to 35 barrels of oil per day.
  • Received a notice of allowability for a patent on its extraction process.

EnShale Energy completed an integrated shale oil recovery process model. This process, called an Aspen Model, was completed by The Idaho National Labs, a department of the DOE. This cutting edge engineering and analysis of EnShale's technology was intended to estimate the overall material and energy balance throughout the EnShale process. Using the information derived from the Aspen Model, EnShale Energy estimates that it can produce oil for an operating cost of less than $30 dollars a barrel. EnShale is currently using its pilot plant to test and improve the efficiency of the EnShale process and develop new technology to enhance the process. 

EnShale Energy CEO Robert Morris stated, "I am excited about where we are headed as a company. The more I watch the price of oil rise the more valuable our project and technology becomes. This patent being approved means we can move forward with licensing our process and raising the funds necessary to build a production facility. Our future goals are to complete a feasibility study, geologically define an oil resource within our leases, and raise enough money to build a commercial size production facility."

About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a publicly traded (OTCQB: BULM) (OTCBB: BULM) gold-focused exploration royalty company with additional interests in bauxite and oil-shale technology. The Company is engaged in a continual review of mining opportunities to create growth for shareholders. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company's website at www.bullionmm.com for more information.

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