MR3 Systems to Extract Gold From Colorado Gold Mine Tailings and Dumps; Butte Plant to Be Moved.

Business Editors

MR3 Systems, Inc., (NQB:MRMR) announced today that on June 18, 2002, it entered into a MR3 Metals Extraction Agreement with Consolidated Empire Gold, Inc., of Evergreen, Colo., to process gold from the gold tailings and dumps located at Grace Gold Mine Complex in Empire, Color., 45 miles west of Denver. The Agreement calls for MR3 to install its Technology on the gold mine site to process 500 tons per day of gold-bearing material into gold bars. Consolidated estimates that there are over 450,000 tons of gold tailings and dumps on the site, to be processed over the next 2+ years. The yield, at an average of .08 ounces of gold per ton, should exceed 35,000 ounces of gold and result in over $10,000,000 in gold bar sales at $300 per ounce. The Company will share with Consolidated net revenue from those sales on a 50/50 basis. MR3 anticipates having its gold extraction plant installed and fully operational at Empire during the 4th Quarter of 2002. The MR3 plant will operate year-round on a 24/7 basis, and may be expanded to increase its gold throughput rate per day.

Historical records reveal that this gold mine site has been operated off and on since 1862, yielding over 600,000 ounces of gold. Consolidated's current surveys indicate that the Grace Gold Mine Complex could still contain over 1,000,000 additional ounces of gold ore which they plan to begin mining later this year. MR3 expects to gain the opportunity to expand its on-site gold extraction operations at Empire to include the processing of these additional gold reserves. However, that phase of expansion is not included under MR3's current Gold Extraction Agreement with Consolidated, and there is no assurance it will take place.

According to Randall S. Reis, MR3's chairman and CEO, "This transaction with Consolidated represents the achievement of a major milestone in the Company's efforts to enter the business of extracting gold and other platinum group metals. Earlier this year our research and development team discovered a breakthrough in the application of the MR3 Technology for the processing of low-concentration gold tailings on an economical basis. Because we extract gold by employing an environmentally-friendly methodology, without the use of cyanide or similar pollutants now illegal in many states, the opportunities to expand MR3's gold recovery business are substantial. This first MR3 gold plant will serve as an excellent vehicle to demonstrate to potential partners and owners of large gold deposits the benefits of utilizing our technology to extract their gold. MR3 intends to take full advantage of its capabilities with the platinum group metals applications, especially at a time when the prices of these precious metals are rising and are forecasted to increase further."

MR3 also announced that its Butte, Mont., zinc processing plant, which had been closed temporarily for the slow winter season, will be closed permanently and its equipment moved to Empire, Colo., to process gold under the Consolidated Agreement. Larry Hopper, MR3's president and COO, stated, "Even before the need arose for this equipment in Colorado we were seriously considering the economic viability of reopening the Butte plant for the new season. A combination of the sluggish economy and the high freight charges customers were paying for our zinc sulfate shipments from Butte made the continuing prospects of operating from that remote location marginal, at best. We now have in Colorado an economically superior use for that equipment. MR3 is actively pursuing new plant locations to expand its specialty chemical products production, including zinc sulfate, in geographical locations closer to the larger markets were there is a significant demand for our high-quality products."

MR3 is a high-tech, state-of-the-art metals extraction and separation technology capable of converting hazardous liabilities into non-hazardous, profitable assets through the processing of industrial wastes and other complex metals sources into pure metals and specialty chemical products. The Company believes this to be the only technology available that can selectively and individually remove and purify all targeted metals from aqueous solutions economically on a commercial scale. The multi-billion dollar global markets for the MR3 System include the processing and treatment of electric arc furnace dust, nuclear wastes, semiconductor manufacturing and electroplating effluents, mercury and metal hydroxide sludges, precious metals mining tailings, and other industrial waste streams containing high concentrations of valuable metals.

Mr. Reis added, "This gold extraction agreement, coupled with the large Taiwan metals processing plant we announced last month, are definite indications that MR3 is now gaining the acceptance and developing the momentum we had long anticipated during the development stage of this Technology. Pending transactions never seem to close as fast as one thinks they should, but considering these developments and the other important contracts and opportunities we are pursuing, the future prospects for our Company finally appear to be where they should be -- on track and most encouraging."

Certain statements contained in this press release are forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, many of which are beyond the Company's control.