Board Focuses on Advancing Work to Demonstrate Commercial in-Place Mining
DALLAS, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Group 11 Technologies Inc., (“Group 11”) a US-based private company committed to testing and implementing commercially viable processes for in-place (“In-Situ”) recovery of precious metals, announces the initial five appointees to the Company’s Board of Directors.
Jeananne Hauswald, Director
Ms. Hauswald is the Managing Partner of Solo Management Group and has spent more than 25 years in the investment management, corporate finance, strategic planning and human resource fields. She was a director of Constellation Brands, Inc and Thomas & Betts, Inc., both NYSE-listed companies, and was the Chairman of the Audit and Human Resource committees of both companies. She served as Vice President and Treasurer of the Seagram Company, where she was also responsible for overseeing the corporate secretary, risk management, benefits funding and investor relations departments. Prior to joining Seagram, Jeananne spent 15 years at Celanese Corporation as Assistant Treasurer, Jeananne’s early work experience included banking at Morgan Guaranty Trust Company and Strategic Planning at International Paper Company and Shell Oil. Ms. Hauswald received her MBA in Finance from New York University and has a BS in Chemistry from Iowa State University.
Janet Lee-Sheriff, Director & President
A co-founder of Group 11 Technologies Inc, Ms. Lee-Sheriff has served as Chief Executive Officer of Golden Predator Mining Corp. since 2015. Golden Predator’s Secondary Recovery Unit was used in the successful first field test of EnviroLeach’s proprietary, non-cyanide based, solution for the recovery of gold. She also serves as Executive Chair of Taku Gold Corp. and previously served as President of Tigris Uranium Corp. She has worked proactively for over 30 years with First Nation governments and business groups as a strong advocate for environmental and social sustainability, inclusion and regional economic benefits. She is a recipient of the Queen’s Jubilee Commemorative Medal awarded for outstanding achievements by Canadians, is a member of PDAC’s Indigenous Affairs Committee and a graduate of Queen’s University.
David Morgan, Director
Mr. Morgan is a renowned precious metals analyst that has been involved in the natural resource sector for over 30 years. He originated The Morgan Report, a monthly report that covers economic news, the global economy, and to invest in the resource sector. Mr. Morgan frequently travels the world providing presentations and media appearances. He has appeared on media outlets including Fox Business, CNBC, Wall Street Journal and BNN Blomberg. He holds degrees in finance and engineering. A dynamic, much-in-demand speaker all over the globe, he is a big-picture macroeconomist whose main job is education—educating people about honest money and the benefits of a sound financial system. Mr. Morgan has an MS Business from La Verne, Los Angeles, California and a BS Aeronautical Engineering from San Luis Obispo, California.
Duane Nelson, Director
Mr. Nelson is the founder and Chief Executive Officer of EnviroLeach Technologies Inc, a co-founder of Group 11 Technologies Inc. He has been instrumental in the development of EnviroLeach’s proprietary environmentally friendly solution to extract precious and strategic metals from ores, concentrates and e-Waste. Prior to EnviroLeach, Mr. Nelson was Chief Executive Officer and co-founder of Silvermex Resources Inc., a past TSX listed gold and silver producer. He is also the founder of Quotemedia Inc., a successful financial market data company and a leading provider of global financial stock market data for the Toronto Stock Exchange, NASDAQ, OTC, and others. Mr. Nelson also serves as a Director with NGO Sustainability, Inc., in consultative status to the United Nation’s Environment and Social Council.
William M. Sheriff, Director
Mr. Sheriff is a co-founder of Group 11 Technologies Inc. An entrepreneur and visionary with over 30 years’ experience in the minerals and securities industries, Mr. Sheriff was a pioneer in the uranium renaissance as co-founder and Chairman of Energy Metals Corp. He was responsible for compiling the largest domestic uranium resource base in US history before the company was acquired by Uranium One Corp for $1.8 Billion. Mr. Sheriff also founded and serves as Executive Chairman of Golden Predator Mining Corp. and enCore Energy Corp. and serves as a Director with Ely Gold Corp. and Exploits Discovery Corp. He holds a B.Sc degree (Geology) from Fort Lewis College, Colorado and an MSc in Mining Geology from the University of Texas-El Paso.
Background on Group 11 Technology for Non-Invasive Extraction
In Situ Recovery (“ISR”) is a non-invasive extraction method that has transformed the uranium industry: oxygenated water-based solutions are circulated underground, dissolving the targeted metals, and then returned to surface for processing and recovery. ISR’s unparalleled environmental advantage includes no open pits or underground mining, no tailings or large waste dumps and no discharge of noxious chemicals at surface. It is a low-impact, low capital cost mining method. As for remediation and rehabilitation requirements, ISR delivers substantially reduced mine-closure time and costs compared to conventional practices. In addition, energy requirements, water usage and the environmental footprint of mining projects are significantly reduced by ISR technology.
Non-invasive extraction of minerals has been successfully implemented in the mining sector with many innovators and patent holders now involved at enCore, one of the Group 11 partners. These innovators pioneered In-situ Recovery which has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide. Group 11 is committed to the development and application of ISR extraction for gold and other metals using EnviroLeach’s patented environmentally friendly process along with enCore’s expertise in ISR extraction. This combination of expertise will advance a business model that has potential to disrupt the conventional mining industry.
The Group 11 Team: The future of metals extraction is a serious challenge for the mining industry which must address mounting concerns over its environmental and carbon footprint, energy consumption, operational safety and its impact on water use and water quality while responding to an ever-increasing need for metals in our daily lives. Each Group 11 partner brings a vital skill set to address these challenges and create a unique business opportunity. Group 11 is backed by a top tier staff of scientists and engineers; an extraordinary data set; independent technical validations; strategic relationships; research and development and commercially proven processes and technologies.
About Group 11 Technologies Inc. (‘Group 11’): is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of non-invasive extraction technology and environmentally friendly processes to recover gold and other metals provides an alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 is owned by Enviroleach Technologies Inc. (OTCQB: EVLLF) (CSE: ETI), Encore Energy Corp. (OTCQB: ENCUF) (TSXV: EU) and Golden Predator Mining Corp. (OTCQB: NTGSF) (TSXV: GPY).
Group 11 is a group of elements in the periodic table, also known as the coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of applicable securities laws including transactions and other properties, and the potential advancement thereof. Forward- looking statements are statements that relate to future, not past, events. In this context, forward- looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Estimates of mineral resources and reserves are also forward looking statements because they constitute projections regarding the amount of minerals that may be encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.