Maxam Gold Corporation Provides Development Update on the Xcentia/Maxam Process
Posted on: Monday, 6 March 2006, 09:01 CST
Maxam Gold Corporation (Maxam) President / CEO Richard G. Steeves is pleased to provide an update on the commercialization of the Xcentia/Maxam process.
Completed on time and within budget, the Xcentia/Maxam laboratory, located in Vancouver, British Columbia, Canada, became fully operational on November 30, 2005. From early December to date, Ish Grewal, Xcentia's Metallurgical Process Engineer, successfully performed approximately 12 metal leaching /metal extraction test sequences on representative coal ash samples. This testing not only accomplished the new lab prove-out for coal ash but also provided baseline results for the two interested companies; one a large U.S. metals producer and the other a large U.S. power producer. The plan for the next phase will see a similar test program for gold ore and precious metal samples being provided to Xcentia/Maxam by mining companies interested in using the Xcentia/Maxam extraction process.
ABOUT MAXAM GOLD CORPORATION (Pink Sheets:MXAM)
Maxam Gold Corporation engages in the acquisition, exploration, and mining of gold and other precious and semi-precious metals. The company was founded in 1974 and its principle property, located south of Gila Bend, Arizona, holds 640 acres of Maxam's and related company's gold claims. Originally developed by Maxam to provide an environmentally preferred alternative to the direct acid leaching method for gold extraction, Maxam's patent-pending extraction process was also found extremely effective at extracting precious metals, base metals and toxic elements contained in the bottom ash and fly-ash by-products of coal combustion. Maxam's selection of Xcentia Mining LLC and Xcentia Energy LLC as a partner in the mining and coal ash process commercialization is a critical step that capitalizes on the vast industry specific experience possessed by Xcentia's management team.
SAFE HARBOR STATEMENT
Some statements contained in this and/or other Company correspondence are to be considered "Forward-Looking Statements" as defined under the Private Securities Litigation Reform Act of 1995. Actual results from the above disclosures could differ materially from projection, as results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, environmental factors, or factors relied upon from independent sources, may either negatively or positively impact progress. These risks include, but are not limited to: The ability to motivate key employees; timely development, production and acceptance of products and services into distribution channels; maintaining expense factors in acceptable levels with revenues and/or funding growth; and other risks that time to time may occur.
Source: Business Wire
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