GUELPH, ON, June 6 /CNW/ - Dr. Gene Shelp, President of Enpar
Technologies Inc. ("ENPAR"), is pleased to announce that the Company, in
partnership with Canadian Golden Dragon Resources Ltd. ("Dragon"), will
proceed with the development of its patented ExtrEL Technology. Dragon can
earn 70 per-cent interest in the ExtrEL Technology with a payment of 333,333
common shares of Dragon (completed) and a total financial commitment of
$150,000 over a period of 18 months. The financial commitment includes an
initial investment of $50,000 for research within the first 6 months, followed
by a $50,000 payment and an additional R&D investment of $50,000 over the
following 12 months.
The ExtrEL Technology is being developed as both a stand alone recovery
process and a value-added metal recovery system to complement conventional
metallurgical circuits. Initially, research and development will focus on
proven high value mill wastes where preliminary testing results were very
positive. Contrary to many hydrometallurgical processes, the ExtrEL Technology
will operate in the absence of high temperatures or pressures, while achieving
cost-effective recovery of the metals of interest.
ENPAR has agreed to pay White Knight Capital Corp. a fee of 10% for
arrangement of this transaction.
ENPAR Technologies, Inc., headquartered in Guelph, ON is a publicly
traded company listed in the TSX - Ventures Exchange (symbol "ENP").
This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to risks and
uncertainties and other factors that may cause ENPAR Technologies Inc. results
to differ materially from expectations. These include risks relating to market
fluctuations, property performance and other risks. These forward-looking
statements speak only as of the date hereof.
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