Rzolv met tests show 98.7% gold recoveries

Executive Summary

• Rzolv Technologies Inc. announced independent laboratory-scale metallurgical test results conducted by SGS Canada Inc., demonstrating that its proprietary non-cyanide gold leaching formula achieves gold recoveries comparable to conventional sodium cyanide.
• The tests showed 98.7% gold recovery on oxide-based gravity concentrates and 89.4% on sulphide-based gravity concentrates over a 96-hour leach cycle, validating the technology's potential as a cost-effective alternative to cyanide and smelter treatment.
• The company also announced the grant of 1.66 million incentive stock options to directors, officers, employees, and consultants, exercisable at $0.50 per share.

Key Details

• Test Methodology: Independent metallurgical testing conducted by SGS Canada Inc. at its Burnaby, B.C. laboratory under controlled bottle-roll leaching conditions.
• Test Material: Oxidized and sulphide-based gravity concentrates sourced from two separate gold projects in Alaska, prepared to a particle size of 80% passing 2mm.
• Rzolv Performance:
  • Oxide-based gravity concentrates: 98.7% gold recovery.
  • Sulphide-based gravity concentrates: 89.4% gold recovery.
  • Leach retention time: 96 hours.
• Cyanide Benchmark Performance:
  • Reference solution: 2,000 ppm sodium cyanide.
  • Oxide-based gravity concentrates: 99.9% gold recovery.
  • Sulphide-based gravity concentrates: 90.7% gold recovery.
• Technical Conclusion: Rzolv demonstrated leach kinetics and gold recoveries comparable to cyanide under identical laboratory conditions, suggesting applicability to gravity and flotation concentrate streams where cyanide use is constrained.
• Stock Option Grant:
  • Quantity: 1.66 million incentive stock options.
  • Recipients: Certain directors, officers, employees, and consultants.
  • Exercise Price: $0.50 per share.
  • Term: Five years from the date of grant.
  • Post-Grant Total: 5,490,333 stock options outstanding (approx. 8.86% of outstanding common shares).
  • Condition: Subject to acceptance by the TSX Venture Exchange.

Notable Quotes

• Duane Nelson, President and CEO: "We are very pleased with the independent metallurgical testing conducted by SGS. Under the test conditions evaluated, Rzolv's non-cyanide solution demonstrated gold recoveries and leach kinetics comparable to those achieved using cyanide-based reference methods commonly applied prior to smelter treatment under the specific laboratory conditions evaluated."
• Duane Nelson, President and CEO: "These results represent a meaningful technical milestone for the industry and support Rzolv's potential to provide a cost-effective alternative to the current cyanide and smelter-based methods used today for the treatment of gold-bearing concentrates."