Iceland Resources is pleased to announce that it has entered in to a binding agreement with St-Georges Platinum and Base Metals Ltd. a Canada listed company on the CSE exchange. St-Georges will acquire all outstanding shares of Iceland Resources, setting up a subsidiary with St-Georges owning 60% and Iceland Resources shareholders 40%.
St-Georges has made a commitment to spend CAD $1.000.000 over the next 24 months on developing and advancing the Icelandic Projects.
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues. The Company also explores for Nickel on the Julie Nickel Project & for industrial minerals on the Quebec’s North Shore and for Lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit their website at www.stgeorgesplatinum.com
Vilhjalmur Thor Vilhjalmsson, director of Iceland Resources, commented: “The opportunity to combine the resources of both companies, our extensive knowledge of Iceland and its geology and the addition of St-Georges team’s expertise in metallurgical processing and eco-mining environmental friendly solutions, provides a unique offering to the market and stakeholders of both companies”