UC Resources Enters Into Strategic Relationship Negotiations With Sunvault
Energy for Power Generation & Storage
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/13/13 -- UC
Resources Ltd. ("UC" or the "Company") (TSX VENTURE:UC) has entered
into negotiations to define a strategic relationship with Sunvault
Energy Inc. (OTCBB:SVLT) for the provision of power and energy
storage at their La Yesca facility. The Company has experienced
continual seasonal power interruptions that have caused mill
operations at La Yesca to be intermittent. Ensuring power stability
will better enable consistency in mill flow operation.
The two companies have agreed to prepare and enter into an initial
letter of intent and then a 90 day due diligence period to be
followed by a final agreement. Upon a successful conclusion to that
agreement, installation of Sunvault Power generation and storage
products will commence at the mining site.
Sunvault Energy will be the operator and UC Resources Ltd. will be
the beneficial owner of the project. Sunvault Energy has selected
Daystar Technologies Inc. to construct the project.
SunVault Energy Inc. (OTCBB:SVLT) (www.sunvaultenergy.com) delivers
cost effective generation and energy storage through a seamless,
novel and simultaneous integration of energy generation and storage.
SunVault has developed an ALL-In-One (TM) approach that is a first
and has the potential to enable one of the lowest overall system cost
structures while operating at maximum efficiency. "Sunvault Energy
may very well solve what has been an ongoing challenge for our
consistent mill production and may prove to be the answer for many
other miners in Mexico as well" stated UC Resources CEO, Gary
Monaghan. "Diesel Power Generation in mining is expensive and often
the power supplied through traditional means can't be relied upon, or
is simply not available in certain areas" Monaghan commented.
The Mexican mining environment is one where mining operators commonly
use combinations of diesel generators to produce power to enable the
operation of processing facilities, where access to traditional power
sources are not readily available.
Part of the due diligence process will be for Sunvault Energy and UC
Resources to explore a distribution relationship whereby UC Res
will be able to demonstrate, represent and distribute the Sunvault
Energy systems in the mining environment of Mexico. Compensation for
the power project to be provided by Sunvault will be determined by
the agreement, the amount of power to be supplied and may be subject
to TSX approval.
UC Resources Ltd. is an active explorer and producer of precious
metals in Mexico.
On behalf of the Board of Directors,
Gary Monaghan, Chief Executive Officer
We seek safe harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Investors or interested parties are invited to visit the UC Resources
Website at http://www.ucresources.net - where they can choose to join
the opt-in e-mail list to receive all future press releases and
updates in real time.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical fact
included in this release, including, without limitation, statements
relating to the potential mineralization and geological merits of the
La Yesca properties and other future plans, objectives or
expectations of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's plans or expectations include
risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time to
time in the filings made by the Company with securities regulators.
The Company expressly disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required
by applicable securities legislation.
UC Resources Ltd.
Press spacebar to pause and continue. Press esc to stop.