SURREY, British Columbia, Feb. 26, 2020 – Mineworx Technologies Ltd., (the “Company” or “Mineworx“) (TSXV: MWX) (OTCQB: MWXRF) (FSE: YRS WKN: A2DSW3) is pleased to announce the signing of a Letter of Intent (“LOI”) with EnviroLeach Technologies Inc.(“EnviroLeach”) (CSE: ETI) (OTCQB: EVLLF) (7N2: FSE) to develop and utilize EnviroLeach’s patented technology to recover platinum group metals (“PGM”) from catalytic converters. Upon completion of a definitive agreement Mineworx will fund, in phases, further development of the EnviroLeach technology to tailor it to the recovery of PGM including bench and pilot scale test work. Mineworx will also have the option to finance, construct, own and operate a proposed commercial production facility to process end of life catalytic converters utilizing EnviroLeach’s proprietary technology under license.
Greg Pendura, President and CEO commented, “We are very pleased to announce this initiative, which has significant potential within the PGM market in excess of $30 billion annually. We are confident that with the support of the EnviroLeach team and their proprietary technology, we will be able to develop an eco-friendly and commercially viable process to extract and market platinum group metals for future use.”
The completion of the transactions proposed under the LOI is subject to a number of conditions including the negotiation and execution of a definitive agreement and license agreement.
