For immediate distribution
Montreal, October 1st, 2013 – Geomega Resources Inc. (“GéoMégA” or the “Company”) (TSX.V: GMA) is pleased to announce the signature of a Cooperation agreement (the “Cooperation”) with FFE Service GmbH based in Munich, Germany. The Cooperation’s objective is to develop a high-throughput (metric tons/day) rare earth elements separation process based on free flow electrophoresis technology. This electric separation process has the potential to dramatically reduce the capital currently required to build solvent extraction facilities.
“Our efforts in research and development over the last 22 months have led us to electrophoretic mobility of ions and two (2) patents pending. The separation process in development exploits free flow electrophoresis technology to create separation between the rare earth elements. The Cooperation with Dr. Weber, a world leader in free flow electrophoresis, provides an important value-added partner and independent validation. China controls the rare earth elements supply chain with the solvent extraction separation method. Our process uses electricity to create separation between the rare earth elements providing a durable and cost competitive alternative.” comments Simon Britt, President and CEO of GéoMégA.
Electrophoretic mobility – ions
Electrophoresis is the migration of charged species (ions, proteins, particles) in solution in the presence of an electric field. Each ion moves toward the electrode of opposite electrical polarity. For a given set of solution conditions and electric field intensity, the migration velocity depends on a characteristic number called the electrophoretic mobility. The electrophoretic mobility is directly proportional to the charge to size ratio of the ion.
GéoMégA has filed patents in multiple jurisdictions to protect its novel separation process. Mr. Pouya Hajiani, Ph.D., supervises separation process and is instrumental to its development. In exchange for the conclusive development of the separation technology, the Company shall grant, subject to the approval of the TSX Venture Exchange, 1,000,000 common share purchase warrants (“Warrants”) at an exercise price corresponding to the weighted average of the Company’s share price during the five (5) trading days preceding the conclusion of the technology agreement. The Warrants become exercisable upon demonstration of high purity (>99%) separation, in a pilot plant using the separation technology, of the following lanthanides from the Montviel concentrate: neodymium (Nd), dysprosium (Dy), europium (Eu) and praseodymium (Pr).
About FFE Service GmbH (www.ffeservice.com)
The mission of the FFE Service GmbH is the development and advancement of Free Flow Electrophoresis (FFE) and its application in research of biopolymers and bioparticles, with the focus in the field of protein research. The simultaneous activity in development, engineering, production, service and sales of FFE-instruments will ensure the successful implementation of this high performance separation technology in universities, research centres and industry. The know how about the application of FFE is offered within cooperations with scientific groups of universities, scientific research centres and industry. Work on contract is also offered for dedicated applications of FFE.
About GéoMégA (www.geomega.ca)
GéoMégA, which owns 100% of the Montviel rare earth elements/niobium project located in Québec, is a mineral exploration and development company focused on the discovery and sustainable development of economic deposits of metals, such as rare earth elements, niobium and graphite, in Québec. GéoMégA is committed to meeting Canadian mining industry standards and distinguishing itself with its innovative engineering, stakeholders engagement and its dedication to local transformation benefits.
GéoMégA currently has 34,990,113 common shares issued and outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Simon Britt Dr. Gerhard Weber
President and CEO CEO
GéoMégA FFE Service GmbH
(450) 465-0099 +49 (0)89-32195069
Cautions Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecast or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company’s filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.