RZOLV Technologies Announces Independent SGS Lab-Scale Test Results on Gravity Concentrates - 98.7% Gold Recoveries

Executive Summary

• Independent SGS testing showed RZOLV™ achieved 98.7% gold recovery on oxide gravity concentrates and 89.4% on sulfide concentrates over a 96‑hour leach, comparable to cyanide benchmarks.
• The results represent a technical milestone supporting the company’s non‑cyanide gold leaching technology as a potential commercial alternative.
• The company granted 1,660,000 incentive stock options at $0.50 per share, increasing total outstanding options to 5,490,333 (≈8.86% of common shares).

Key Details

• Test Program: Conducted by SGS Canada Inc. in Burnaby, BC; bottle‑roll leaching under controlled conditions; material prepared to 80 % passing 2 mm.
• Materials Tested: Oxide‑based and sulfide‑based gravity concentrates sourced from two Alaska gold projects.
• Recovery Results (96 hr):
• Oxide concentrate – RZOLV™: 98.7 %, Cyanide reference: 99.9 %
• Sulfide concentrate – RZOLV™: 89.4 %, Cyanide reference: 90.7 %
• Leach Kinetics: Comparable leach curves for RZOLV™ and cyanide across all time points (1‑96 hr).
• Scope Limitation: Results are laboratory‑scale only; not intended to support resource, reserve, or production estimates. Ongoing testing planned on broader ore types and operating conditions.
• CEO Quote: Duane Nelson highlighted the comparable recoveries and leach kinetics as a “meaningful technical milestone” and potential cost‑effective alternative to cyanide and smelter methods.
• Stock Option Grant: 1,660,000 options at $0.50 exercise price, five‑year term; total outstanding options now 5,490,333 (~8.86 % of common shares); subject to TSX Venture Exchange acceptance.

Notable Quotes

“We are very pleased with the independent metallurgical testing conducted by SGS… 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…” – Duane Nelson, President & CEO

Materiality Assessment: Material – Positive (the test results materially advance the company’s core technology narrative and could influence commercial adoption; stock option grant is material corporate information).