TORONTO, ON / ACCESSWIRE / November 2, 2016 / Newport Gold Inc. (OTC PINKS: NWPG) (the "Company", "Newport") announced today it has
entered into a world-wide licensing agreement with Eco-Orex Technologies ("Eco-Orex"), (an Ontario Company) to develop and
commercialize new mineral processing technology for the mining industry. Eco-Orex holds patents and patents pending related to
specialized mining technologies.
Under the terms of the agreement, Newport will make an upfront payment to Eco-Orex of $75,000 (CDN) within six weeks. In total,
Newport will pay Eco-Orex $4 million (US), in agreed upon timelines over the next 36 months as well as royalties on sales of the
product after the development of prototypes and commercial machines. Newport will also issue 25 million shares of common stock to
Eco-Orex subject to the filing of a certain patent application with the US Patent and Trademark Office and Newport will be entitled
to earn certain ownership rights in Eco-Orex based upon amounts paid to Eco-Orex as described above.
Newport intends to finance and manufacture, under certain agreed upon protocols with Eco-Orex, a working prototype in order to
create a commercial technology for the mining industry, for distribution on a world-wide basis.
This new technology was initially tested in Russia and then in Canada over the past 15 years with success. The process known as
Cavitational Technology is a process that allows for the disintegration and concentration of minerals in ore in one single
operation. The technology can be applied to metallurgical tailings, slag and sludge. The technology does not require large rotating
equipment or any grinding media. The required facilities may be portable and can be designed and constructed at the location of
choice for any particular customer. This technology will provide a unique opportunity to unlock major incremental mineral values in
any mining operations dealing with thin pay dirt deposit layers. In addition to being portable, initial testing has shown that the
process can reduce particles to less than 10 microns in size if necessary, without the necessity of any additives or reagents.
Furthermore to being mobile, the technology is not harmful to the environment and can deliver huge economies of scale at a fraction
of the cost of conventional mining methods. The scientists at Eco-Orex Technologies were the first to transfer this cavitational
theory into a working industrial application.
"We believe this new mine processing technology will be a major breakthrough and revolutionary in terms of processing
mineralized rock for the mining industry on a global scale. It will be portable, environmentally friendly and achieve significant
cost reductions compared to conventional mining techniques. It can be applied to processing both surface tailings operations and in
open pit ore bodies as well as numerous applications as it relates to processing ore" said Derek Bartlett, President of Newport
Gold. "We look forward to building the prototype and advancing the technology too commercial production and marketing and selling
this technology to the mining industry on a global scale."
Newport Gold will be updating its website and financial information and intends to submit any necessary filings as soon as
possible in order to resume having current information available on the OTC Markets.
About Newport Gold Inc.
Newport Gold Inc. is an incorporated Nevada company (incorporated July 16, 2003), originally formed for the purpose of mining
exploration but will now shift and concentrate its major business activities into developing and commercializing the new mining
technologies described herein, in conjunction with Eco-Orex Technologies. The Company still retains some mining exploration claims
in the province of British Columbia in Canada.
DISCLAIMER ON FORWARD-LOOKING STATEMENTS
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such
forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities
that involve substantial risks and uncertainties. When used herein, the words "anticipate", "believe", "estimate", "plan",
"intend", and "expect" and similar expressions, as they relate to Newport Gold Inc., or its management, are intended to identify
such forward-looking statements. These forward-looking statements are based on information currently available to the Company and
are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance,
prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The
Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or
circumstances after the date hereof or for any other reason.
CONTACT INFORMATION
Newport Gold Inc. Derek Bartlett, B.Sc. (Geology) President, CEO and Director 905-542-4990
SOURCE: Newport Gold Inc.
