29.06.2011 15:00:00
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GTSO Stakes Claim to Mongolia’s Massive Gold Deposits with New PPA
Enticed by Mongolia’s estimated 32 million ounces of gold reserves, Green Technology Solutions, Inc. (OTCQB: GTSO) signed a Profit Participation Agreement (PPA) this week with ArErkhes, LLC, to mine precious metals at a new mineral-rich property in the developing Asian nation.
"Mongolia is blessed with extraordinary untapped reserves of gold and precious metals,” said GTSO President and CEO John Shearer. "With prices continuing to rise to unprecedented heights, we jumped at the chance to get in on the ground floor of what is shaping up to be a Mongolian mining boom.”
According to the PPA, GTSO and its global strategic alliance partner Beijing Bullion Transfer Group (BBTG) will facilitate mining development at the new site in exchange for a percentage of the mine’s net profits. Known as the Anand Mine, the property is owned by Bulgantaikhar, LLC, and is located in the Orkhontuul Soum of Mongolia’s Selenge province, 230 km north of Ulan Bator. ArErkhes owns the mining rights to the property.
Nestled between two political juggernauts in China and Russia, Mongolia’s vast mineral wealth has remained largely undeveloped until recently. In addition to rare earths and precious metals, the frigid, sparsely populated nation is also rich in copper, uranium and coal. GTSO has worked closely with ArErkhes in recent weeks to develop Mongolian resources. Earlier this month, the two companies signed a PPA to develop rare earth mining on three properties across the country.
GTSO first signaled an expansion in its mining strategy to include gold and other precious metals last month by signing a Global Strategic Profit Alliance Agreement with the Beijing Bullion Transfer Group. BBTG will provide GTSO with expertise in trading, marketing and transporting gold and other precious metals worldwide.
For more information on BBTG, please visit http://www.beijingbullion.com/investors.
"The value of precious metals has risen by 365 percent over the last 10 years, and there appears to be no end in sight,” Shearer said. "Gold and other precious metals are critical to the manufacture of a wide range of green technologies, and the commercialization of Mongolia’s underdeveloped metals deposits is an opportunity too promising to pass up.”
Green Technology Solutions commercializes clean and renewable mining technology and products in a sector that includes BHP Billiton Ltd. (NYSE: BHP), MV Rare Earth/Strategic Metals (NYSEArca: REMX), SPDR Gold Shares (NYSEArca: GLD) and Barrick Gold Corporation (NYSE: ABX).
About Green Technology Solutions, Inc.
The next generation of green technology—electric car batteries, wind turbine generators, photovoltaic solar panels—is made possible by precious elements mined from the earth’s crust, and the world’s dependence on these substances is rising fast. Today, these rare elements largely come from some of the most environmentally damaging mines in the world. Green Technology Solutions, Inc. offers clean mining solutions to the acquisition of rare earths, gold and other materials used in the latest green-tech innovations. Our cutting-edge clean mining techniques and strategies are generating business leads from around the globe as governments and corporations seek to lessen the environmental impacts of ore mining. GTSO is positioned to capitalize on exciting and lucrative opportunities to develop cleaner mines in emerging nations around the world, including Mongolia, the Republic of Congo and many more. Our company is focused on aggressively growing and diversifying our business in order to produce green mining solutions for our clients on a global scale.
Green Technology Solutions, Inc. (GTSO) is an OTCQB publicly traded company. OTCQB is the middle tier of the OTC market. OTCQB companies report to the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations. GTSO acquires, develops and implements the newest clean mining technology to enable our partner clients to expand operations throughout the world. Environmental restrictions represent the largest restriction to mining industry growth and operations. GTSO focuses on overcoming these environmental restrictions with brilliant cutting-edge clean mining technology.
For more information, please visit http://www.GreenTech-Solutions.com/Investors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes,” "expects,” "anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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