September 20, 2012 Kirkland Lake Ontario Mistango River Resources Inc. (MIS:CNSX) (GLRAF:OTC) ("MIS" or the "Company") is pleased to announce it has signed a Memorandum of Understanding (MOU) with United Commodity AG (UC) of Thun of Switzerland regarding reprocessing of the tailings from the former Omega mine situated on the Company's property located in Larder lake Ontario.
Details of the MOU are summarized below.
1. Mistango provides the feed and UC and /or UC-R makes the feed processing
2. If it makes economically sense, UC will install in 2012 on its own costs a Concentrator Facility on Mistango's mining property with the purpose to concentrate the feeds before shipment to UC'S refinery. UC will extract all remaining heavy and noble metals +neutralize contaminated concentrates.
3. Mistango provides an exclusive feed recycling right to UC until the processing of the tailings is completed.
4. The two parties agree a profit (revenue minus processing costs) sharing.
5. UC is responsible for all permits and any new environmental liabilities that should occur because of UC's tailings recycling operation.
Below you will find UC's news release of September 17, 2012.
Mistango River Resources Inc. is a Canadian based exploration and development company holding several properties in Ontario and Quebec, including large land holdings in the Kirkland Lake region. Mistango specializes in precious metals and VMS hosted base metals, with recent projects centered on the Omega and Sackville properties in Ontario. Mistango brings a distinguished board and technical staff with expertise and many years in mineral exploration and mining fields. For additional information about Mistango and its mining properties, please visit Mistango's website www.mistangoriverresources.ca.
This news release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that Mistango believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of Mistango based on information currently available to Mistango. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango. Factors that would cause actual results or events to differ materially from current expectations include, but are not limited to, Mistango's decision to cancel its exploration program on its Omega gold property.
For further information please contact:
Mistango River Resources Inc.
Robert J. Kasner, President & CEODonald Kasner, Investor Relations
Telephone: 705-568-7540 Telephone: 705-570-1019
E-mail: [email protected] E-mail : [email protected]
United Commmodity AG
Baliz 64, 3600 Thun, Switzerland
Tailing Recycling Cooperation between Mistango River and United Commodity
09/17/12 - Kirkland Lake/Cobalt - Canadian Mining Company Mistango River Recources Inc. and Swiss Based United Commodity AG announced today that they plan to work together in an unified effort to advance tailing recycling. The announcement reflects the companies' commitments to work together in environmentally responsible operations and responds to the increasing effort in economically and ecological tailing management.
Mistango will provide the tailing at its premises in Kirkland Lake together with an exclusive tailing recycling right to United Commodity and United Commodity is bringing in its unique United Commodity Tailing Recycling Process (UC-RPM(R)) at Mistango's mining property.
Both parties agreed on a profit sharing (revenue minus processing costs) sharing model.
<< For Mistango we see the benefit to get a cash compensation of our so far called <<non assets tailings>>. The compensation is linked to the gold price, the grade and the processed feed quantity>>, said Robert J. Kasner, Chairman & Chief Executive Officer of Mistango.
Reto Hartmann, Chairman and CEO of United Commodity said << United Commodity will get all extracted noble metals out of its UC-RPM(R) with which we are able to process up to 150 tons of feed (ore, tailings, concentrate, slag etc.) per day at Mistango and we will have a first operation in an environment which could contribute to the environmental recovery of contaminated tailings.>>
Both parties further agreed on an option to establish a longterm partnership to develop other UC-RPM(R)applications in the mining industry of Canada.
About Mistango River Resources
MISTANGO RIVER RESOURCES Inc. is a Kirkland Lake based resources Exploration Company focussing on increasing shareholder value by exploring and development of precious metals and VMS hosted base metals with precious metals content. The company holds several properties in Ontario and Quebec and is presently focussing on the Omega and Sackville properties in Ontario The company has large land holdings in the Kirkland Lake area. Mistango has a very experienced board and technical staff.
About United Commodity
United Commodity is a swiss based company specialized in extracting gold and other valuable raw materials through innovative and sustainable recycling technologies. United Commodity recently aquired a 51 per cent stake in Yukon Refinery in North Cobalt, Ontario. United Commodity AG is listed at Frankfurt, Germany Stock Exchange. (ISIN: CH0032868199, Symbol: 3UI1).
United Commodity AG
Balliz 64, 3600 Thun, Switzerland
[email protected], www.united-commodity.com
Phone +41 (0) 44 533 10 30