Haber Inc. Agrees to a Joint Venture on Arizona Precious Metals ...

Tag : joint bearing
ARLINGTON, Mass. - (Business Wire) Haber, Inc., (OTC: HABE), aDelaware corporation headquartered in Arlington, Mass., withproprietary technologies for the environmentally friendlyprocessing of gold-bearing ores, announced today that it has agreedto enter into a joint venture with a private party (hereinafterreferred to as “ Owner ” ) to acquire certain patented claims in southern Arizona which willthen be conveyed to a new joint venture corporation called ArizonaMineral Resources, Inc. (hereinafter referred to as “ AMRI ” ).
“ Owner ’ s ” patented property comprises approximately 61 acres of land at thenucleus of a highly mineralized intersection zone lying between twogold, silver and copper “ trends. ” The term “ patented property ” is applied to mining claims for which the federal government haspassed title to a claimant under the provisions of the GeneralMining Law of 1872. The patenting process requires that theclaimant demonstrate the existence of a valuable mineral depositthat satisfies certain marketability tests and the “ prudent man ” rule. A “ trend ” in mining and geologic terminology refers to the direction inwhich a mineralized zone travels from a given reference point . Additional land will be leased from the Bureau of Land Management so as to significantly expand AMRI ’ s holdings around the patented property and to follow the definedtrends.
Under terms of the agreement, the joint venture is conditional ongood title being established for the patented property. Haber willbe the operating party within the joint venture and will beresponsible for all funds and business management, exploration,mining and ore processing activities and shall grant “ AMRI ” a non-exclusive license for use of Haber ’ s environmentally friendly minerals extraction and recoveryprocesses. “ Owner ” will be issued 10 percent of AMRI ’ s stock and will receive $50,000 from the proceeds of a $5 millionPrivate Placement Offering (PPO) to be made to fund the activitiesof the new enterprise. Haber will retain a major equity interest inthe joint venture after issuance of stock to investors in the PPO.
Albert B.Conti, CEO and Chairman of Haber stated, “ This joint venture provides Haber with a high potential gold,silver and copper prospect in the United States with patentdocumentation, offering us a good chance to discover economicmineral assets on the property. The site location allows foryear-round mining operations and is also an area where there is thepotential to provide processing services to other miners in theregion. ”
Conti also indicated that “ Haber has successfully tested a number of ores from other partiesusing our newly developed process for treating ores high insulfides and this may provide opportunities for additional jointventures. It must be emphasized, however, that there is noassurance that clear title to the patented property will beestablished, or that it will contain economically viable metalvalues to support mining operations or that the required fundingwill be forthcoming ”
About Haber, Inc.
Haber, Inc. is a high technology process development company withproprietary technologies in extractive metallurgy andelectrochemical separations. These technologies include the company ’ s Haber Gold Process (HGP) and Haber Recovery Process (HRP),chemical systems, for the hydrometallurgical extraction andrecovery of gold from its ores. The Haber Gold Process is bothnon-toxic and more efficient than conventional solvents such ascyanide. This technology accelerates the gold extraction rate andmay increase gold recovery from its ores by a substantial factor.The company ’ s Electromolecular Propulsion (EMP) technology is anelectrochemical process that enables the electrically controlledmovement or positioning of a variety of different molecules. It isdistinguished from the techniques of electrophoresis andchromatography by its wide variety of potential applications andthe greater speed and control of the results. For more information,call Peter R. D ’ Angelo (781) 643-2727, or visit the company ’ s website at http://www.habercorp.com .
Safe Harbor Statement
Any statements contained herein that are not historical facts areforward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995, and involve risks anduncertainties. Forward-looking statements include statementsconcerning plans, objectives, goals, strategies, future events orperformance and underlying assumptions. These statements aresubject to uncertainties and risks including, but not limited to,economic conditions, the impact of competition and pricing,government regulation, and other risks. All forward-lookingstatements made by or on behalf of Haber Inc. are qualified. HaberInc. disclaims any obligations to update any forward-lookingstatements to reflect events or circumstances after the datehereof.
Haber, Inc.
Peter R. D ’ Angelo, 781-643-2727