SOURCE: MineralRite Corporation

February 11, 2014 09:15 ET

MineralRite and Goldfield Services Continue to Grow, Initial Order Expectation Beyond $200,000

LINDON, UT--(Marketwired - Feb 11, 2014) - MineralRite Corporation ("MineralRite") (OTCQB: RITE) and Goldfield International ("Goldfield") are pleased to announce a strategic partnership with GPX Gold Royalty Corp. ("GPX"). The purpose of this partnership is to collaboratively unlock revenue from gold and mineral production. Through its expertise, Goldfield will complement the royalties secured by GPX by providing proven custom engineered equipment packaging, mine-site consulting and mineral processing knowledge.

GPX, a private Canadian company building a portfolio of metals recovery royalties, will bring production projects and capital to the partnership, thereby delivering revenue opportunities in collaboration with qualified gold and mineral asset owners. The GPX metals recovery royalty (MRR) goes beyond a source of funding for these asset owners by additionally delivering engineering, equipment and other key industry relationships.

Following considerable asset due-diligence, GPX has reached agreement on MRR terms with a well qualified asset partner in Arizona, which will act as the first project jointly executed by GPX, MineralRite and Goldfields. This Arizona project, high grade gold, will be developed in multiple phases as per the mine development plan commencing early in 2014 with Phase 1A.

GPX President and CEO Raymond Pecoskie, P.Eng commented, "Evolving this relationship with Kent Harmon and his team significantly bolsters GPX's already strong network of execution partners by delivering to our asset partners a perfectly suited US based equipment manufacturer with a proven track record of job success. Having spent time at the Goldfield facility in Lindon, I am very confident in our joint ability to create a win/win for our collective firms and Shareholders."

This strategic partnership between MineralRite, Goldfield and GPX will first and foremost deliver the equipment required for Phase 1A gold production in Arizona, while at the same time collaborative consideration will be given to undertaking future phases and additional mineral production projects in the US and other mine friendly locations.

About MineralRite Corporation:

MineralRite Corporation is engaged in the processing, certification and sales metals including copper, gold, silver, and the platinum group metals. Using various proprietary and ecologically friendly processes and technologies, the Company extracts precious metals from mining operations ore, reclaimed mine tailings and high value concentrate material.

About Goldfield International:

Goldfield International machinery is professionally engineered and built to withstand years of the most rugged conditions and heavy use. All equipment is built in our Lindon, Utah plant -- from the engineering draft to final coat of paint. With a proven track record for efficient, quality machinery, fast response time and reasonable pricing, Goldfield International has supplied recovery equipment for a number of the largest placer mining projects in the world.

About GPX Gold Royalty Corp.:

GPX is a private Canadian company run by industry and capital markets veterans dedicated to building a portfolio of metals recovery royalties in geo-politically stable jurisdictions. GPX developed a proprietary royalty model, the Metals Recovery Royalty (MRR) to jointly fund qualified assets and deliver capital returns to its partners and shareholders.

Contact Information

  • Contact:
    MineralRite Corporation
    55 South Geneva Road
    Lindon, Utah
    Ph. 801-796-8944