Newlox Accelerates Expansion Plans
Vancouver, BC, July 13, 2020 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to advise that it has completed its due diligence, and is now proceeding with its proposed second clean technology gold production facility, as announced March 12th, 2020.
Newlox is acquiring the rights to build a wholly owned mineral processing plant (“Plant Two”), which will benefit greatly from its location on a fully permitted mineral concession. The permitted status of this concession will allow the rapid installation and commissioning of a new mill at Plant Two.
Management anticipates that Plant Two will add near term growth to the Company’s business, which will supplement the continued expansion at Newlox’s first processing plant (“Plant One”).
Although the Company’s growth plans over the summer of 2020 have been interrupted by the COVID-19 pandemic, Newlox is making progress upgrading equipment to increase productivity at Plant One and laying the foundation for further near-term growth at Plant Two.
Details of the definitive agreement will be disclosed shortly.
A Message from Ryan Jackson, President & CEO
“Like many other projects around the world, Newlox’s operations have been forced to contend with challenges related to the COVID-19 pandemic. However, we continue making progress in developing Newlox’s business model, which is focused on environmental remediation and precious metals production. With the global gold market strengthening and robust investor interest in gold producing companies, we are accelerating Newlox’s growth plans.”
About Newlox Gold Ventures Corp.
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
On Behalf of the Board, Newlox Gold Ventures Corp.
Forward-Looking Information: 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).
Technical Disclaimer: 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. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within themeaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.