Haber Inc. Agrees to a Joint Venture on Arizona Precious Metals Property
Haber, Inc.,, a Delaware corporation headquartered in Arlington, Mass., with proprietary technologies for the environmentally friendly processing of gold-bearing ores, announced today that it has agreed to enter into a joint venture with a private party (hereinafter referred to as “Owner”) to acquire certain patented claims in southern Arizona which will then be conveyed to a new joint venture corporation called Arizona Mineral Resources, Inc. (hereinafter referred to as “AMRI”).
“Owner’s” patented property comprises approximately 61 acres of land at the nucleus of a highly mineralized intersection zone lying between two gold, silver and copper “trends.” The term “patented property” is applied to mining claims for which the federal government has passed title to a claimant under the provisions of the General Mining Law of 1872. The patenting process requires that the claimant demonstrate the existence of a valuable mineral deposit that satisfies certain marketability tests and the “prudent man” rule. A “trend” in mining and geologic terminology refers to the direction in which 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 defined trends.
Under terms of the agreement, the joint venture is conditional on good title being established for the patented property. Haber will be the operating party within the joint venture and will be responsible 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 recovery processes. “Owner” will be issued 10 percent of AMRI’s stock and will receive $50,000 from the proceeds of a $5 million Private Placement Offering (PPO) to be made to fund the activities of the new enterprise. Haber will retain a major equity interest in the 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 patent documentation, offering us a good chance to discover economic mineral assets on the property. The site location allows for year-round mining operations and is also an area where there is the potential to provide processing services to other miners in the region.”
Conti also indicated that “Haber has successfully tested a number of ores from other parties using our newly developed process for treating ores high in sulfides and this may provide opportunities for additional joint ventures. It must be emphasized, however, that there is no assurance that clear title to the patented property will be established, or that it will contain economically viable metal values to support mining operations or that the required funding will be forthcoming ”
Haber, Inc. is a high technology process development company with proprietary technologies in extractive metallurgy and electrochemical separations. These technologies include the company’s Haber Gold Process (HGP) and Haber Recovery Process (HRP), chemical systems, for the hydrometallurgical extraction and recovery of gold from its ores. The Haber Gold Process is both non-toxic and more efficient than conventional solvents such as cyanide. This technology accelerates the gold extraction rate and may increase gold recovery from its ores by a substantial factor. The company’s Electromolecular Propulsion (EMP) technology is an electrochemical process that enables the electrically controlled movement or positioning of a variety of different molecules. It is distinguished from the techniques of electrophoresis and chromatography by its wide variety of potential applications and the 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.
