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Release Archives: 01/08/2008
Itronics
Gold'n Minerals, a special purpose mining subsidiary, is launched
RENO,
Nevada, January 8, 2008 -- Itronics Inc. (OTC BB: ITRO; Frankfurt
and Berlin Stock Exchanges: ITG) today reported that it has formed
Itronics Gold’n Minerals, Inc., a special purpose subsidiary,
that will acquire gold and mineral properties and invest in Junior
Gold and Mineral Companies which provide the opportunity to develop
and commercialize environmentally friendly mining and mineral extraction
and processing technologies.
Now that Itronics’
technical services group, Whitney & Whitney, Inc. has established
the global Gold Producing Stocks web site, www.insidemetals.com,
it will use this worldwide data base and its extensive mineral property
library to identify certain properties and/or companies that the
new subsidiary can acquire or invest in at relatively low cost.
Properties acquired will be developed or joint ventured, and may
be able to utilize Itronics’ metal and mineral extraction
technologies to achieve environmentally compatible mineral processing.
“Adding this new
subsidiary to Itronics integrated group of businesses accomplishes
two important objectives for the Company,” said Dr. John Whitney,
Itronics President. “It creates a third path to large scale
growth for Itronics, and it provides Itronics an opportunity to
monetize more of its intellectual property for the benefit of its
shareholders.”
Whitney & Whitney,
Inc. will provide management and technical services to the new subsidiary,
which will seek multi-mineral properties and make strategic investments
in small specialty companies that are in early stage operation development
or small scale commercial operation and that have the potential
for expansion. A strategic objective is for this subsidiary to become
an operating mining division for Itronics, which will utilize advanced
environmentally compatible technologies to mine, extract, and sell
mineral and metal products from multi-mineral properties.
The Company believes
that this expansion will increase the rate of income and asset growth
for Itronics’ shareholders. The funding plan is to privately
place shares in the subsidiary with qualified investors to provide
start up capital and then to take it public within a two to three
year time frame. The Company believes that this will become the
exit strategy for the initial private investors, and it will create
measurable market value for Itronics.
Itronics believes that
sharply rising gold and silver prices in particular and rising prices
for all metals and minerals in general, are providing a strong incentive
for investors to fund new mining projects as well as mineral extraction
and processing technology development. “With our demonstrated
ability to create and commercially establish revolutionary new recycling
and chemical process technology, and with Whitney & Whitney’s
successful track record of assisting mining companies with new mine
development, we are confident that Itronics is well positioned to
participate in this new and rapidly emerging technology segment,”
said Dr. Whitney.
Establishing the Itronics
Gold’n Minerals is being implemented pursuant to Itronics
eight-part, five year business plan that was first summarized in
a press release on June 3, 2005.
About Itronics
Itronics, through its
subsidiary, Itronics Metallurgical, Inc., is the only company in
the world with a fully permitted "Beneficial Use Photochemical,
Silver, and Water Recycling" plant located in the United States
which can convert used photoliquids into pure silver and liquid
fertilizers. At the Company’s Reno, Nevada factory more than
99 percent of the silver and virtually all the other toxic heavy
metals are extracted from used photoliquids. The purified liquids
are converted into environmentally beneficial, chelated, micronutrient
and multinutrient liquid fertilizers sold under the GOLD'n GRO trademark.
The silver is refined and sold as bullion and 5 troy ounce, 0.999
pure, Silver Nevada Miner numismatic bars. The environmentally friendly
liquid fertilizers can be used for lawns and houseplants, and are
available, along with GOLD'n GRO liquid fertilizer injectors, at
the Company's "e-store" catalog at http://goldngro.com
. The popular Silver Nevada Miner bars are available at the Company's
“e-store” catalog at http://www.itromet.com .
Headquartered in Reno,
Nevada, Itronics Inc. is a "Creative Environmental Technology"
company and a world leader in photochemical recycling. The Company
also provides project development services to the gold mining industry
and operates the popular InsideMetals.com web site, http://www.insidemetals.com.
which provides a value-added WORLD VIEW of Gold Producer Stocks
and Junior Gold Stocks. Itronics has received numerous domestic
and international awards that recognize its ability to successfully
create and implement new recycling and fertilizer technologies.
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VISIT OUR WEB SITE: http://www.itronics.com
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