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:: Gold City Producing Quantities of Gold Concentrate at Test Sites
Haber, Inc., a New Jersey-based company with proprietary technology for analytical instrumentation and the processing of gold-bearing ores, announced today that Gold City Inc. (a Nevada corporation), the licensee company of Haber Inc.'s environmentally friendly gold extraction process (HGP), has made significant progress in producing quantities of gold concentrate from its mining sites in Nevada.
Patrick Anfinson, President of Gold City, Inc., reported, "Since Gold City's funding in July 2003, we have been focusing on exploration and evaluation of our mining properties, and within the last 45 days, have been producing quantities of gold concentrate at one of our sites near Winnemucca, Nev. This concentrate will be processed, using the Haber Gold Process (HGP), in Gold City's interim Wyoming facility, which will be used until its permanent facility in Nevada is completed." Anfinson continued, "Gold City anticipates limited gold production using HGP to commence in first quarter 2004. We are in the process of completing our permanent processing plant site selection in the vicinity of Winnemucca, Nev. When the final site selection is made, Gold City's environmental consultants will then be able to proceed with the final permitting of the processing plant."
Gold City also reported that it is continuing exploration of its Barber Canyon property and has had a geophysical survey conducted by a leading survey firm that will be completed within several weeks.
Haber President Albert Conti said, "Gold City concentrate is currently being evaluated in our Florida facilities, where initial qualification of the ore will be completed and where the required minimum benchmarks and quantities of ore will be produced to establish production variables. When the contractually required initial quantities are processed using HGP, Haber shall receive the remaining 1.2 million shares of Gold City stock in accordance with the licensing agreement."
Conti also reported that Gold City will purchase Haber's first mobile HGP processing unit, which will undergo final testing during the initial gold production runs. The mobile unit is designed for use in the United States but is of the same general type that can be easily transported overseas to Ghana, West Africa, for processing ores produced by the more than 1 million small-scale miners scouring Ghana's vast gold reserves. As previously announced, Haber executives have met with senior government and mining officials in Ghana, demonstrating the company's HGP gold extraction process in comparison with conventional, toxic cyanide and mercury techniques.
"We're pleased with the progress of our Minerals Division to date and will continue to update shareholders on our progress in meeting the Division's business objectives," said Conti.
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