FOR IMMEDIATE RELEASE Contact:
Paul Knopick
888-795-6336
******************************************************************
ITRONICS
GOLD’N MINERALS, A SPECIAL PURPOSE MINING SUBSIDIARY, IS LAUNCHED
RENO,
Nevada, January 8, 2008 -- Itronics Inc. (OTC BB: ITRO; Frankfurt and Berlin
Stock Exchanges: ITG)
today reported that it has formed Itronics Gold’n Minerals, Inc., a
special purpose subsidiary, that will acquire gold and mineral properties and
invest in Junior Gold and Mineral Companies which provide the opportunity to
develop and commercialize environmentally friendly mining and mineral
extraction and processing technologies.
Now that
Itronics’ technical services group, Whitney & Whitney, Inc. has
established the global Gold Producing Stocks web site, www.insidemetals.com, it will use this
worldwide data base and its extensive mineral property library to identify
certain properties and/or companies that the new subsidiary can acquire or
invest in at relatively low cost. Properties acquired will be developed or
joint ventured, and may be able to utilize Itronics’ metal and mineral
extraction technologies to achieve environmentally compatible mineral
processing.
“Adding
this new subsidiary to Itronics integrated group of businesses accomplishes two
important objectives for the Company,” said Dr. John Whitney, Itronics
President. “It creates a third path to large scale growth for Itronics,
and it provides Itronics an opportunity to monetize more of its intellectual
property for the benefit of its shareholders.”
Whitney &
Whitney, Inc. will provide management and technical services to the new
subsidiary, which will seek multi-mineral properties and make strategic investments
in small specialty companies that are in early stage operation development or
small scale commercial operation and that have the potential for expansion. A
strategic objective is for this subsidiary to become an operating mining
division for Itronics, which will utilize advanced environmentally compatible
technologies to mine, extract, and sell mineral and metal products from
multi-mineral properties.
The Company
believes that this expansion will increase the rate of income and asset growth
for Itronics’ shareholders. The funding plan is to privately place
shares in the subsidiary with qualified investors to provide start up capital
and then to take it public within a two to three year time frame. The Company
believes that this will become the exit strategy for the initial private
investors, and it will create measurable market value for Itronics.
Itronics believes that
sharply rising gold and silver prices in particular and rising prices for
all metals and minerals in general, are providing a strong incentive
for investors to fund new mining projects as well as mineral extraction
and processing technology development. “With our demonstrated
ability to create and commercially establish revolutionary new recycling and
chemical process technology, and with Whitney & Whitney’s
successful track record of assisting mining companies with new mine
development, we are confident that Itronics is well positioned to participate
in this new and rapidly emerging technology segment,” said Dr. Whitney.
Establishing the Itronics
Gold’n Minerals is being implemented pursuant to Itronics eight-part,
five year business plan that was first summarized in a press release on June 3,
2005.
About
Itronics
Itronics,
through its subsidiary, Itronics Metallurgical, Inc., is the only company in
the world with a fully permitted "Beneficial Use Photochemical, Silver,
and Water Recycling" plant located in the United States which can convert
used photoliquids into pure silver and liquid fertilizers. At the
Company’s Reno, Nevada factory more than 99 percent of the silver and
virtually all the other toxic heavy metals are extracted from used photoliquids. The purified liquids are converted into
environmentally beneficial, chelated, micronutrient and multinutrient liquid
fertilizers sold under the GOLD'n GRO trademark. The silver is refined and
sold as bullion and 5 troy ounce, 0.999 pure, Silver Nevada Miner numismatic
bars. The environmentally friendly liquid fertilizers can be used for lawns
and houseplants, and are available, along with GOLD'n GRO liquid fertilizer
injectors, at the Company's "e-store" catalog at http://goldngro.com
.. The popular Silver Nevada Miner bars are available at the Company's
“e-store” catalog at http://www.itromet.com ..
Headquartered in Reno,
Nevada, Itronics Inc. is a "Creative Environmental Technology"
company and a world leader in photochemical recycling. The Company also
provides project development services to the gold mining industry and operates
the popular InsideMetals.com web site, http://www.insidemetals.com. which provides a value-added WORLD VIEW of
Gold Producer Stocks and Junior Gold Stocks. Itronics has received numerous
domestic and international awards that recognize its ability to successfully
create and implement new recycling and fertilizer technologies.
* * * *
* * * * * *
VISIT
OUR WEB SITE: http://www.itronics.com
("Safe Harbor"
Statement under the Private Securities Litigation Reform Act of 1995: This
press release contains or may contain forward-looking statements such as
statements regarding the Company's growth and profitability, growth strategy,
liquidity and access to public markets, operating expense reduction, and trends
in the industry in which the Company operates. The forward-looking statements
contained in this press release are also subject to other risks and uncertainties,
including those more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no obligation to
update these forward-looking statements to reflect actual results, changes in
risks, uncertainties or assumptions underlying or affecting such statements, or
for prospective events that may have a retroactive effect.)