Green Mining Technologies, Earth Explorations Buy Gold Mine

Green Planet Group, Inc. says its wholly-owned subsidiary Green Mining Technologies, Inc. (GMT) has signed an agreement with Earth Explorations, LLC, to acquire its first gold mine.

GMT’s investment to acquire the mining property and own 50 percent of the mine’s ongoing net profit is $800,000 cash to be paid from initial operating profits within the first 12 months, 4.4 million shares of restricted common stock, and 50 percent of the ongoing royalty income and revenues generated by Green Mining Technologies. The agreement is scheduled to close on Jan. 31.

Located in northwestern Arizona, this mine has estimated reserves of 1.44 million ounces of gold and 1.73 million ounces of silver, as reported in an independent third-party analysis conducted in August of 2009 by W M Engineering. Based on current precious metal values, the mine’s total reserves have been valued at $1.59 billion.

Mining operations are expected to begin within 90 days from closing. Initial monthly revenue projections are $272,000, increasing to $510,000 over the first 6 months. After processing all of the existing surface material, underground operations are projected to begin yielding monthly revenues of approximately $10 million.

With the formation of Green Mining Technologies, Green Planet Group has brought together a consortium of four leading research and development companies that have numerous patents on improving the planet’s soil, water and air, with the express purpose of significantly reducing or eliminating the negative environmental impact of past mining practices. As exclusive suppliers of their technologies for precious metal mining, all four companies in the consortium will be used by GMT to diminish the environmental impact of ore extraction, processing and transportation, while restoring the land and the environment in and around mining sites.

GMT has also signed a long-term agreement with Earth Explorations, LLC (the original mine investor) for the final development, implementation and licensing of GMT’s green mining technologies. Earth Explorations and GMT will equally own all technologies developed and any revenues and profits they may generate.

Earth Explorations intends to use GMT’s patented systems to mine the gold on their other 11 mining properties. GMT’s long-term goal is to license this green technology to other gold mining companies and receive royalty payments as a percentage of the gold produced. The company expects that the more stringent recent environmental regulations being implemented regarding mining in particular and the environment in general will greatly spur both industry and public awareness of GMT’s breakthrough technologies, thereby creating significant new revenue and income opportunities for GMT.

Green Mining Technologies' consortium includes:

  • American Soil Technology with its patented soil enhancers that retain moisture at the root zone of plants thereby reducing both water and fertilizer use while protecting the aquifer. Bio-Flora, a world-leading innovator in the development of new organic fertilizers and substantial agriculture technologies will provide the “fuel” to re-grow native plants in mined areas.
  • Green Power Resource Management, the maker of multi-patented solar powered air conditioners that will act as a natural coolant for all of the structures used throughout the mining process, as well as provide the water treatment solutions to reclaim all waste water.
  • Lumea Staffing Inc., a wholly owned subsidiary of Green Planet Group, will provide qualified green collar employees for mining operations. Additional services will include OSHA inspections, risk management, health and medical services as well as workman’s compensation insurance.
  • Green Planet Group and its research and development arm, White Sands, LLC will further enhance the green mining process by supplying their EPA-registered and Texas certified fuel additive and engine treatments, XenTx™ and XenTx™ CB/LE. These products will be used to minimize carbon and other harmful fuel emissions typically released from the bulldozer, power generating and heavy equipment engines supporting the various mining procedures.

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