Agreement$VGLS 2 Huge Definitive Agreements >> VG Life Sciences has Reached a Definitive Agreement to Acquire Tamra Mining and
Executed a Definitive Joint Venture Agreement with SOPerior Fertilizer Corporation
Park City, Utah (November 23, 2020)
VG Life Sciences, Inc. (“VGLS” or the “Company”), today announces that the Company has reached a definitive agreement to acquire Tamra Mining Company, LLC and reached a definitive joint venture agreement to develop SOPerior Fertilizer
Corporation’s Blawn Mountain alunite resource.
The Company has reached a binding agreement to acquire Tamra Mining Company, LLC, (“Tamra”) a copper mining company located near the town of Milford, Utah. Tamra controls nearly 60,000 acres of mineral rich property and significant infrastructure to mine, process and
produce finished copper cathode, a metal in high demand as the country’s industrial sector bounces back from the COVID related slowdown.
In conjunction with the acquisition of Tamra, the Company has simultaneously reached a binding joint venture agreement whereby the Company can earn an 85% controlling interest to develop
SOPerior Fertilizer Corporation’s (“SOPerior”) 11,400 acre Blawn Mountain alunite deposit (see www.soperiorfertilizer.com), the United States’ largest non-bauxite alumina deposit coupled, with vast potash reserves. Blawn Mountain’s pre-feasibility study (Canadian 43-101) reports
proven and probable mineral reserves of 426 million tons and 153 million of proven and probable reserves from two of the 4 explored areas of the lease.
Blawn Mountain is located approximately 35 miles southwest of Tamra’s processing
infrastructure that will be enhanced to process copper, alumina and potash, concurrently. Both operations hold existing mining permits to immediately begin operations although it will require
time to rehire staff, design and permit the alunite processing facility.
The two operations combined offer a unique synergy since the processing of alunite releases an acidic by-product that will be used to extract copper from Tamra’s copper rich carbonate deposits thereby eliminating the need to purchase third party acid resulting in lower operating
costs.
The Company will focus on rehabilitating the existing Tamra processing infrastructure, resume mining operations over time, and begin the design and development of the enhanced processing infrastructure to process alunite while looking to expand its resource footprint in this mineral rich region of Utah.
About the Company
VG Life Sciences, INc. (OTCBB: VGLS) is in the process of a reorganization. The Company is headquartered in Park City, Utah.
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