SCOTTSDALE, Arizona,
March 27, 2014 /PRNewswire/ --
Intertech Solutions Inc. (OTC: ITEC) ("Intertech
Solutions Inc.," "ITEC" or the "Company") The Company is very
pleased to announce its first gold streaming agreement with West
Port Gold. The agreement acquires the WPE #1 & #2 Claims
located in the Middlecamp Mining District in La Paz County, near Quartzite Arizona.
The placer gold claims cover a total of 40 acres and have
easy access between Phoenix and
Palm Springs, CA along Interstate
10. Both claims have been professionally surveyed and recorded with
La Paz County and the Bureau of
Land Management.
The duration of this agreement is for ten years or to continue
for the economic life of the mine. ITEC will provide up to
$3 Million USD in order to bring the
mine capacity to process 1,000 tons of gold bearing material per
day. ITEC will receive 75% of net revenue until payback of
the original investment and then 25% of all net revenue until the
resource is fully depleted. Revenue projections are derived from
management's conservative assumptions of processing 1,000 tons per
day with an average grade of 2 grams per ton while 300 operating
days per year at $1,250 per ounce
gold, less operating costs. Based upon these estimates ITEC expects
to net $4.5 Million annually alone
from this single gold streaming agreement.
The WPE Claims #1 & #2 are in a prolific historical gold
producing region located 7 miles south of the Copperstone gold mine
when in 1987 and 1993 Cyprus Gold profitably open pit mined over
500,000 ounces of gold. American Bonanza Corporation has just
re-opened the Copperstone Mine for its lode gold reserves. Former
historic lode gold producers as the Darling and Dome Basin Mines,
which operated between 1900 and 1930, are present as well as
numerous turn of the century rudimentary gold mining operations
which are allocated immediately south of the WPE #1 & #2
Claims.
Intertech Company President, David
Naylor, states, "The Company has secured an important first
project that we expect to put into production beginning in October
of this year. This project has the potential to produce a solid
revenue stream for the next fifteen years and beyond. Due to the
probable tons of gold resource on the WPE #1 & #2 Claims, we
believe ITEC may very well be on the verge of developing one of the
most significant placer gold operations in the continental US this
decade. We invite shareholders and interested parties to visit
http://www.itecgold.com where a detailed report, financial
projections, and other important information on the WPE Project can
be found."
About Intertech Solutions Inc. (OTCPK:
ITEC)
Intertech Solutions is a fully integrated, gold project finance,
management and services consulting Company that provides
development capital, engineering, project supervision and technical
management to gold projects. The Company operates from its offices
in Scottsdale, Arizona. Visit us
at: http://www.itecgold.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements include, among other things, scope
and type of consulting services provided by ITEC, use of proceeds,
future acquisitions, success of projects, growth and strategic
plans. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
petroleum exploration and development stage exploration companies.
These forward-looking statements are made as of the date of this
news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Intertech Solutions Inc.
- - - - - - - - - - - - - - - - - -
David Naylor
President
To find out more about Intertech Solutions Inc. (OTCPK: ITEC),
visit our website at http://www.itecgold.com
Investor Relations:
+1-480-296-2065
investors@Intertechsolutionsinc.com
SOURCE Intertech Solutions Inc.
