Vancouver, BC / TheNewswire / 17 May 2018 - Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE: LUX | Frankfurt: NGO) is pleased to announce continued pouring of gold dore at its remediation and precious metals recovery facility in Central America following the announcement of an inaugural pour on April 23, 2018.
The inaugural pour represented a major milestone for the Company as it was the culmination of successful testing of the Company's specialized three-stage tailings reprocessing system. The plant is now operating satisfactorily with Newlox's operations team focusing on increasing daily throughput and achieving optimum tailings remediation efficiency and gold recovery. Management expects to achieve increasing week-over-week yields as operations advance towards targeted metals recovery levels.
Establishment of continuous operations and dore recovery represents a major accomplishment for the Company. Continuous operation of all the processing plant circuits is generating significant daily data from testing at the on-site atomic absorption spectroscopy laboratory. This will expedite procedural adjustments by the Company's engineering team, with the goal of reaching optimal efficiency.
Additionally, regular recovery of precious metals dore should provide operational revenue, to support Newlox's ongoing business objectives. The Company's relationships with several local and international precious metals buyers as well as a major refinery in the United States, facilitates efficient sale of dore.
Ryan Jackson, President of Newlox Gold comments:
"Pouring of Newlox's inaugural gold dore bar was a major milestone for the Company. This event also marked a paradigm shift of focus from development-stage activities to full-scale commercial operations. Pouring of precious metals dore can now occur regularly as our operations team increase throughput and efficiency performance week-by-week."
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. recovers contaminants and residual precious metals from historical waste accumulated from more than a century of inefficient artisanal and small-scale mining in politically and socially stable Latin American jurisdictions.
Newlox has agreements with local artisanal mining cooperatives providing steady supplies of feedstock for its first processing plant in Central America. Hundreds of years of mining history in Latin America and current inefficient artisanal processing ensure the Company ample opportunities to grow. Newlox occupies a niche within the extractive industry as a clean-technology company applying innovative processing techniques to not only recover precious metals but also effect positive change in the environmental and social landscape.
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 on 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.
Stewart A. Jackson, Ph.D., P.Geo., a "Qualified Person" within the meaning of National Instrument 43-101, has supervised the preparation of, and approved the contents of this News Release.
Newlox Gold Ventures Corp., President