Iberian Minerals Receives Exchange Approval on Mineworx Acquisition
EDMONTON, ALBERTA--(Marketwired - Jan 5, 2016) - Iberian Minerals Ltd. (the "Company" or "Iberian") (TSX VENTURE:IML)(OTCQB:SLDRF) announced today that it has now received final approval from the TSX Venture Exchange on the Company's acquisition of Mineworx Technologies Inc. ("Mineworx"). Complete details of the transaction are available in the press releases dated November 17, 2015 and December 22, 2015.
About Mineworx
Mineworx has developed a unique, patent pending heavy mineral extraction process and an innovative new business model for the precious metals mining sector. Mineworx's unique business model is to seek out advanced-stage mineral deposits on which to employ its portable processing technologies, and to partner with the existing owners and operators to advance these deposits to profitable production in a timely and cost effective manner.
The model offers operators accelerated production timelines, lower cut off grades, reduced infrastructure, shorter permitting periods, improved market valuations, lower operating costs, lower environmental impact and lower economic risks.
Mineworx has invested over 3 years and $3.5 million to design, engineer and complete the prototype development and testing of this proprietary, environmentally friendly mine processing technology.
The unique, integrated water clarification and filtration technologies allow operators to recycle most of the process water used at a typical mine site. This conserves water, minimizes environmental discharge and significantly reduces or eliminates the necessity for tailings ponds.
Mineworx will operate as a 100% wholly owned subsidiary of Iberian Minerals.
"The acquisition of Mineworx has uniquely positioned Iberian to both reduce or negate the significant risks to those in the mining industry as well as to our shareholders," commented Greg Pendura, president and CEO. "The Mineworx technology provides an uncommon union of growth, environmental safeguarding and restored viability to miners that, as a result of global economic forces can't advance their deposits. Mineworx offers disruptive solutions that address and deal head on with these very real restrictions to growth."
The Company is pleased to announce the appointment of Duane Nelson to the position of president of Mineworx. Mr. Nelson was the founder, president and CEO of Mineworx Technologies Inc. He has extensive experience in the mining sector and was the CEO and co-founder of Silvermex Resources Inc., a past TSX listed company. Silvermex was a successful silver and gold producer focused on projects in Mexico and was acquired by First Majestic Silver Corp. in 2012 for $175 Million. Mr. Nelson has also been appointed to the board of directors of Iberian Minerals.
The Company is further pleased to announce the appointment of Gavin Watkins to the position of Chief Technical Officer of Mineworx. Mr. Watkins played a significant role in the design, building and deployment of this cutting edge technology. Mr. Watkins is a highly effective operations/design lead with a proven ability to deliver on-time, on-budget projects by quality workmanship and is particularly noted for identifying and resolving the root causes behind significant problems.
"Our Mineworx team worked very closely with the management of Iberian Minerals during the previous four months to complete their evaluation of our technology and business model," stated Duane Nelson, president of Mineworx. "I have every confidence that the skill sets brought together through the amalgamation of our two companies will now enable the Mineworx technology to be properly deployed with a business strategy focused on delivering real growth alternatives to a mining industry and its shareholders that have experienced significant challenges in recent years."
About Iberian Minerals
Iberian Minerals is a Canadian junior mining company positioned for growth through the partnership of advanced cash flow mining opportunities utilizing the Mineworx environmentally friendly toll-processing technology. The Company is also implementing its business strategy of actively engaging its Spanish contacts and technical team towards the further accumulation of high interest assets throughout the mineral rich Iberian Peninsula. For further information, go to www.iberianminerals.ca.
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 press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Contact
Iberian Minerals Ltd.
Greg Pendura
President & CEO
780-800-0726
info@iberianminerals.ca
Iberian Minerals Ltd.
Rick Giege
Corporate Development
250-751-3661
rick@iberianminerals.ca