Newlox Gold Announces a Retirement from its Board of Directors
Vancouver, BC, July 8, 2016 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX) announces a retirement from its Board of Directors.
As of July 8, 2016, Mr. James Miller-Tait is retiring from the Board of Directors of Newlox Gold Ventures Corp. At this time, Mr. Miller-Tait’s duties at his primary occupation as an exploration geologist take him to remote exploration sites without internet or adequate telecommunications for extended periods. Due to these time and logistical constraints, Mr. Miller-Tait expressed concern regarding his ability to adequately review the Company’s disclosures and resolutions.
Mr. Miller-Tait has made himself available for the Company despite his commitments as an active exploration geologist which take him all over the world. The Company would like to thank Mr. Miller-Tait for his strong support and years of service to Newlox.
Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is an environmental remediation company recovering contaminants and residual precious metals from historical waste left behind over more than a century of inefficient artisanal and small-scale mining in Latin America. The Company is not exploring or mining and does not own any concessions. This approach eliminates the conventional, time and capital intensive, process of exploration and mining.
Newlox collaborates with the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia to develop systems which are perfectly suited to process artisanal tailings material while requiring minimal capital investment and delivering an expedited path to commercial operation.
This approach eliminates the conventional, time and capital intensive, processes that encumber traditional metals producing companies and puts Newlox on the fast-track to success. Not only does Newlox bypass the lengthy exploration stage but, by focusing on artisanal tailings, eliminates the mining, crushing, and majority of grinding steps which represent the most expensive parts of a typical precious metals operation.
With the R&D complete and the Company’s first processing plant constructed, Newlox is poised to achieve highly satisfactory operations in the near term. Once the first plant achieves steady state operation, measured expansion in other prospective, targeted locations in Columbia and Nicaragua will follow.
Newlox announced its intention to acquire the assets of Cordillera Gold Ltd. (“Cordillera”) on April 12, 2016. Cordillera, engages in the acquisition, exploration, and development of gold mineral resource properties in Colombia. Cordillera has rights to certain mineral concessions, access to historical artisanal tailings and toll milling opportunities in the Antioquia Batholith region of Colombia.
The acquisition of two valuable mining leases in Colombia will allow Newlox’s reclamation processing system to be deployed rapidly in a new market. Active and significant historical artisanal mining in the area is expected to support Newlox’s tailor-made processing system.
In addition, the company will benefit from the acquisition of two valuable mining leases in Colombia as part of its imminent expansion. These properties benefit from the area play surrounding Gran Colombia’s Frontino project, one of the premier mining projects in the country, and should allow Newlox to farm out the traditional mining and exploration rights in exchange for royalties.
On Behalf of the Board, Newlox Gold Ventures Corp.
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company’s ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For a PDF file of this news release, click here.