Mineworx Technologies Ltd.

Mineworx Technologies Ltd.

June 08, 2017 07:00 ET

Mineworx Announces the Construction of Eco-Friendly E-Waste Process Facility with EnviroLeach

BURNABY, BRITISH COLUMBIA--(Marketwired - June 8, 2017) - Mineworx Technologies Ltd., formerly Iberian Minerals Ltd. (the "Company" or "Mineworx") (TSX VENTURE:MWX)(OTCQB:MWXRF) announced today the joint collaboration with EnviroLeach Technologies Inc. (CSE:ETI) for the construction of an environmentally friendly, modular E-Waste processing plant/facility. The E-Waste plant/facility has been designed to process up to 2,500 tonnes (5.5 million lbs) per annum of PCBA (printed circuit board assemblies) based E-Waste material.

The process plant has been designed as a turn-key, modular and scalable system and will handle all aspects of the E-Waste recycling process including, material pre-treatment, shredding, grinding, leaching and metal extraction. The plant is currently under construction at the Mineworx facility in Coquitlam, BC, Canada and is expected to be completed and deployed to a strategic location and be operational by the end of Q4, 2017.

The EnviroLeach process provides a safe and effective alternative to the current toxic methods used for the hydrometallurgical extraction of precious metals in both the mining and Electronic Waste (E-Waste) sectors. The proprietary water-based formula and its primary ingredients are FDA approved food-grade additives.

EnviroLeach is already in discussions with numerous North American and International E-Waste recyclers, aggregators, OEM`s, associations and manufacturers which have expressed interest in supplying high-grade E-Waste for processing. The target material would include: set top box boards, memory modules, motherboards, PCI boards, hard drive boards, CPU processors, cell phones and other PCBA based components and materials.

"Mineworx has worked very closely with the EnviroLeach team over the past 6 months moving this project along the path to commercialization" reports Greg Pendura, CEO of Mineworx. "Accomplishing this challenging feat with EnviroLeach is a significant milestone and will reshape the future of E-Waste recycling. We look forward to being the exclusive technology/systems integrator for the continued design, development and installation of all future EnviroLeach pilot plants and full scale production facilities worldwide."

The processing of E-Waste offers very compelling economic factors compared to mining. These factors include the low cost of source materials, the above ground abundance and high-grade nature of the feed stock itself. These facts, combined with the accelerated leach kinetics, small environmental footprint and low capital costs, offers the potential of low-cost metals production in a very short period of time on a relatively small budget.

The Company is still very active in the mining Sector and is currently testing numerous ores, concentrates and tailings from a number of mining companies and continues to receive numerous inquiries globally. The Company's goal is to aggressively pursue both the Mining and E-Waste sectors simultaneously.

About 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.

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.

This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our Research and development activities, the accuracy of our capital and operating cost estimates; production and processing estimates; the results, the adequacy of Mineworx's financial resources and timing of development of ongoing research and development projects, costs and timing of future revenues or profits and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends", "targets" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning future revenue or earnings estimates may also be deemed to constitute forward-looking information.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information. Forward-looking information is based on the expectations and opinions of Mineworx's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information. The TSX Venture Exchange has not approved or disapproved of the information contained herein.

Contact Information

  • Mineworx Technologies Ltd.
    Rick Gliege
    V.P. Corporate Development
    (250) 751-3661