Newlox Gold Moves Towards Definitive Agreement in Brazil
Vancouver, BC, 8 December 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is pleased to announce that its planned expansion into gold recovery in Brazil, comparable to its established operations in Costa Rica, has advanced through initial due diligence and underlying legal organization.
The initiative has also been greatly enhanced by the news that the Research Center for Responsible Mining of the Polytechnic School of the University of São Paulo (NAP.Mineração/USP) has received expanded World Bank funding for its ASGM – Coexistence in Brazil Project being undertaken in partnership with the Brazilian Cooperative Organization, various artisanal mining cooperatives, the University of British Columbia, and Newlox Gold (Portuguese news release here).
Newlox Gold, as announced on June 16, 2021, has been working in partnership with NAP.Mineração/USP, the centre for small-scale responsible mining at the University of São Paulo, Brazil. This centre supports dissemination of responsible mining practices to artisanal and small-scale mining operations through applied research, training and education. The actions of NAP.Mineracao/USP foster responsible and integrated management of mineral exploration, mine development, mining, rehabilitation, governance, and sustainable development within the artisanal mining sector.
The objective is to “prepare miners for the long term by establishing safer and more efficient mining models and disseminating mercury free gold recovery techniques, practices and principles of health and safety, ESG, economic management and gender equality”, commented Professor Giorgio De Tomi, the director of NAP.Mineração/USP and Newlox Gold’s head of Brazilian Operations.
The fostering of partnerships between artisanal miners and private companies is a vital part of SGMCoexistence in Brazil initiative. Newlox Gold has been presented to the Brazilian artisanal sector as an example of a company implementing mutually beneficial business models for improving the economic, social, and environmental impacts of artisanal mining for all stakeholders. This is illustrated by Newlox having developed successful partnerships with local miners in Costa Rica.
Two attractive artisanal mining projects in Brazil have emerged from the Company’s due-diligence work over the fall. One of these provides a natural beachhead for Newlox Gold to expand into this vast and exciting market. The Company is working with its local partners with whom it has established close relationships. Newlox Gold looks forward to starting construction on its third project, and first in Brazil, next year.
“Over the fall, we completed our initial due diligence work and identified a project in Brazil as an obvious starting point in the country. Recently, several legal and regulatory prerequisites have been successfully completed, allowing the Company to move into the final stages toward signing a definitive agreement.”
“The Brazilian mining industry is several orders of magnitude larger than our operations in Costa Rica, representing a massive opportunity for the growth of Newlox Gold,” commented CEO Ryan Jackson.
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Grab sample results included in this press release are not necessarily indicative of the mineralization in general for the deposit. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Newlox Gold Contact