GolfGear International, Inc. Signs Joint Venture Agreement with Mission Holdings, LLC to Place the Silver Cord Mine Into Prod...
September 29 2011 - 6:00AM
Marketwired
GolfGear International, Inc. (PINK SHEETS: GEAR) announces that it
has signed a Joint Venture Agreement with Mission Holdings, LLC
that will place the Silver Cord Mine into production. The Silver
Cord is a historically producing silver and gold mine located in
Yavapai County, Arizona, with over 900 feet of developed tunnels
following a prominent silver vein. Mission Holdings, LLC, owner of
the Silver Cord Mine, has executed an exclusive Mining Production
Agreement with Western Sierra Mining Corp. (PINK SHEETS: WSRA) to
develop the mine and manage production. Processing of the silver
and gold ores extracted from the Silver Cord Mine will be managed
by GolfGear International under an exclusive Licensing Agreement
recently executed with EnviroXtract, Inc. (PINK SHEETS: EVXA) for
the Company's premiere Ore-XT3 precious metals ore processing
technology.
Dale Geck, President of GolfGear International stated, "This
change in business direction is a huge step for GolfGear
International. With the world economy in a state of collapse,
investors are moving to the safety of gold and silver. With gold
prices recently reaching historical levels beyond $1,600 per ounce,
and with many market analysts projecting gold prices to reach
$2,000 per ounce by the end of 2011, GolfGear International firmly
believes it has chosen wisely in establishing a presence in the
gold and silver mining industry."
Under the proposed agreement, GolfGear International will
provide Mission Holdings and Western Sierra the necessary funding
to immediately begin initial mining operations, as well as
additional funding necessary for expansion. Western Sierra Mining
Corp. will provide its extensive mining expertise, labor,
equipment, and production management of the mine.
GolfGear International has recently executed an exclusive
licensing agreement with EnviroXtract, Inc., a premier developer of
efficient environmental technologies. James Cheney, CEO of
EnviroXtract commented, "EnviroXtract is excited to have been
selected to bring its expertise in ore technology development to
the table for GolfGear International. Management believes the
utilization of our leading edge Ore-XT3 technology for processing
precious metals from the Silver Cord Mine will be an invaluable
asset to this joint venture. EnviroXtract technologies are
anticipated to increase the efficiency and profitability of
GolfGear's gold and silver processing operations.
About GolfGear International, Inc.:
GolfGear International, Inc. was originally incorporated in 1996
as a golf equipment company. The Company has recently altered its
business strategy to include gold and silver mining, providing
financing for gold and silver mining projects, and precious metals
processing and refining.
About Western Sierra Mining Corp.:
Western Sierra Mining is an aggressive gold and silver
exploration and mining company focused on the historic mining
districts of the Bradshaw mountains of Arizona with additional
areas of interest within Nevada and Mexico. Long-term company goals
are to create maximum shareholder value by continuing to build a
strong base of properties and advance these projects toward
production.
About EnviroXtract, Inc.:
EnviroXtract, Inc. was founded as a technology development
company focusing on proprietary environmental remediation
applications for oil spills and other toxic chemical remediation
applications that require a complete separation of hazardous or
toxic chemicals from contaminated soil. The company has recently
expanded its business strategy to enter new markets including:
gold, silver, and precious metals processing and refining, as well
as environmental remediation of mining tailings.
Safe Harbor
This press release contains statements that may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of GolfGear International, Inc., and members
of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-looking statements include fluctuation of
operating results, the ability to compete successfully and the
ability to complete before-mentioned transactions. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results.
Contacts: GolfGear International, Inc. Dale Geck President - CEO
1-888-550-7067 Info@gearii.com
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