Newlox operations benefit from 98% renewable electricity in improved electrical service
Vancouver, BC – The press wire – November 4, 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CNSX:READX.CN) (Frankfurt / Stuttgart: NGO) (OTC:NWLXF) is pleased to announce that the company’s processing plants have been approved for a major electrical upgrade by the Costa Rican National Electricity Company. Plant 1 and the upcoming Boston project will benefit from connection to Costa Rica’s high-voltage three-phase power system. Significantly more efficient operations and cost savings are expected.
Newlox Gold has always benefited from Costa Rica’s robust infrastructure. The improved electrical service provided to the Company’s processing plants will contribute to our goal of reducing operating costs.
In addition to the economic benefits of the new service, Newlox is pleased to announce that Costa Rica has, for the seventh consecutive year, achieved 98% renewable energy in its electricity network.
Recent The analysis indicates that Costa Rica generates 73.39% of its energy from hydropower, 13.84% from geothermal sources, 12.12% from wind and 0.63% from biomass and solar panels. The Minister of Environment and Energy, Carlos Manuel RodrÃguez, adds that Costa Rica intends to continue to advance the development of renewable energies by modernizing the country’s infrastructure, including the transport, waste and other sectors. , livestock, agriculture, construction and freight.
A message from Ryan Jackson, President and CEO:
“We are Excited to announce that our projects in Costa Rica will soon be connected to the country’s three-phase high voltage electrical system designed for industrial operations. Connection to this system will increase efficiency and reduce energy consumption at Newlox facilities, supporting the company’s ESG objectives.
what In addition, because Costa Rica’s electricity grid is powered by 98% renewable energy, Newlox’s processing plants also run on 98% renewable electricity. Costa Rica’s green electricity grid, a major advantage of operating in the country, dramatically improves Newlox Gold’s ESG to concentrate.
Not only can we operate more efficiently with the improved electrical infrastructure, the vast majority of the electricity we use will be generated from renewable sources.
The information contained in this press release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of currently ongoing work programs and the results of those programs. These statements are based on assumptions which are subject to significant risks and uncertainties. As a result of these risks and uncertainties and due to various factors, actual results, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Significant risk factors that could cause actual results to differ include the risk that the work undertaken by the Company will have unintended effects, the risk of delays in the completion of the work and the risk that the Company will not be able to to raise sufficient funds and force majeure. . Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it cannot guarantee that the expectations of any forward-looking information will prove to be correct. Unless required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting these forward-looking statements or others. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release).
The Company informs that it does not base any decision to produce on a feasibility study of the reserves demonstrating the economic and technical viability of the project and also informs that there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. The grab sample results included in this press release are not necessarily indicative of the general mineralization of the deposit. Stewart A. Jackson, Ph.D., P.Geo., A âqualified personâ within the meaning of National Instrument 43-101, has prepared, supervised the preparation and approved the contents of this press release.
On behalf of the board, Newlox Gold Ventures Corp.
Contact Newlox Or
Newlox Gold Ventures Corp., President
Phone: + 1 604 256 0493