LINDON, Feb. 26, 2014 (GLOBE NEWSWIRE) -- MineralRite Corporation ("MineralRite") (OTCQB: RITE) and its
wholly owned subsidiary, Goldfield International ("Goldfield") are
pleased to announce the recently formed strategic partnership with
GPX Gold Royalty Corp. ("GPX") has produced its first purchase
order in excess of $215,000 and was accompanied with customary
deposit. The purpose of this mutually beneficial partnership is to
collaboratively unlock revenue from gold and mineral production.
Through its expertise, Goldfield will complement the royalties
secured by GPX by providing proven custom engineered equipment
packaging, mine-site consulting and mineral processing
knowledge.
GPX, (http://www.gpxroyalty.com/Current-Offerings.html), a
private Canadian company building a portfolio of metals recovery
royalties, will bring production projects and capital to the
partnership, thereby delivering revenue opportunities in
collaboration with qualified gold and mineral asset owners. The GPX
metals recovery royalty (MRR) goes beyond a source of funding for
these asset owners by additionally delivering engineering,
equipment and other key industry relationships.
GPX President and CEO Raymond Pecoskie, P.Eng previously had
commented, "Evolving this relationship with Kent Harmon and his
team significantly bolsters GPX's already strong network of
execution partners by delivering to our asset partners a perfectly
suited US based equipment manufacturer with a proven track record
of job success. Having spent time at the Goldfield facility in
Lindon, I am very confident in our joint ability to create a
win/win for our collective firms and Shareholders."
Also announced following considerable asset due-diligence, GPX
reached an agreement on MRR terms with a well qualified asset
partner in Arizona, which will act as the first project jointly
executed by GPX, MineralRite and Goldfields. This Arizona project,
high grade gold, will be developed in multiple phases as per the
mine development plan commencing early in 2014 with Phase 1A.
This strategic partnership between MineralRite, Goldfield and
GPX will first and foremost deliver the equipment required for
Phase 1A gold production in Arizona, while at the same time
collaborative consideration will be given to undertaking future
phases and additional mineral production projects in the US and
other mine friendly locations.
"Our equipment is in very high demand due to the current
international gold rush. Used and available equipment is highly
sought after because they can receive it immediately and avoid new
build out times. This makes it very attractive during the opening
of the winter trails in Alaska, as well as during the heavy rain
patterns in the southern hemisphere that allow prime opportunities
for the transportation of equipment to mine sites while operations
are down," stated Kent Harmon President of Goldfield
International.
About MineralRite Corporation:
MineralRite Corporation is engaged in the processing,
certification and sales metals including copper, gold, silver, and
the platinum group metals. Using various proprietary and
ecologically friendly processes and technologies, the Company
extracts precious metals from mining operations ore, reclaimed mine
tailings and high value concentrate material. Visit us at: http://www.mineralrite.com/
About Goldfield International:
Goldfield International machinery is professionally engineered
and built to withstand years of the most rugged conditions and
heavy use. All equipment is built in our Lindon, Utah plant -- from
the engineering draft to final coat of paint. With a proven track
record for efficient, quality machinery, fast response time and
reasonable pricing, Goldfield International has supplied recovery
equipment for a number of the largest placer mining projects in the
world.
Media Services by: S.T.A.T. and Vitello Capital LTD
Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995:
MineralRite Corporation encourages those interested in our Company
to rely only on information included in our filings with the United
States Securities and Exchange Commission which can be found at
www.sec.gov. Statements released
by MineralRite Corporation that are not purely historical are
forward-looking within the meaning of the "Safe Harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including
statements regarding the company's expectations, hopes, intentions,
and strategies for the future. Investors are cautioned that
forward-looking statements involve risk and uncertainties that may
affect the company's business prospects and performance. The
company's actual results could differ materially from those in such
forward-looking statements. Risk factors include but are not
limited to general economic, competitive, governmental, and
technological factors as discussed in the company's filings with
the SEC on Forms 10-K, 10-Q, and 8-K. The company does not
undertake any responsibility to update the forward-looking
statements contained in this release.
CONTACT: MineralRite Corporation
55 South Geneva Road
Lindon, Utah
Ph. 801-796-8944
Craig Fischer, S.T.A.T. Group
Investor Relations
786.375.0556
