Morgain Minerals Inc. - Announcement.Business Editors TORONTO--(BUSINESS WIRE)--Sept. 14, 2000 Morgain Minerals Inc. (CDNX CDNX See Canadian Venture Exchange (CDNX). :MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. .) through its wholly Mexican subsidiary Minera MGM S.A. de C.V., is pleased to announce it is now in possession of the environmental permits issued by the Secretaria de Ecologia, Medio Ambiente, Recursos Naturales y Pesca (SEMARNAP SEMARNAP Secretaria del Medio Ambiente, Recursos Naturales y Pesca (México, Secretariat of the Environment, Natural Resources and Fisheries) ) to mine trona tro·na n. A natural vitreous gray or white mineral, Na2CO3·NaHCO3·2H2O, used as a source of sodium compounds. rock and harvest trona brines at its Adair Trona Project, Sonora, Mexico. On June 1, 2000 the SEMARNAP announced the passing of a new legislated law restricting the granting of environmental permits to mine and harvest any mineral including trona in the Adair Trona area, Sonora, Mexico. Since Minera MGM applied and received governmental approval prior to June 1, 2000, Minera MGM is the last and the only company to receive environmental permits to mine rock trona and harvest trona brines. This gives Minera MGM the "Exclusive" right to all of the trona in the Adair area, covering an area 35 km in length and 10 km in width. The Adair Trona property is located along the East Coast of the Sea of Cortez in the northwest part of the State of Sonora, Mexico. Trona is an industrial type mineral in the form of rock crystal beds and brines consisting of sodium sequicarbonate. The world trona market is immensely large. In 1999, 18 million tonnes of trona was mined world-wide primarily for making soda ash soda ash: see sodium carbonate. for the glass and chemical industries and to a lesser extent the agricultural industry as feed for animals, metallurgical fluxes, pollution control, leather tanning tanning, process by which skins and hides are converted into leather. Vegetable tanning, a method requiring more than a month even with modern machinery and tanning liquors, employs tannin; its use is shown in Egyptian tomb paintings dating from 3000 B.C. , water softening Water softening The process of removing divalent cations, usually calcium or magnesium, from water. When a sample of water contains more than 120 mg of these ions per liter (0. and various buffering and chemical applications. A Mexican geological consultant, Dr. A. Rosa, who is familiar with Trona exploration and the Adair Trona deposit, reports a geological mineral inventory of over 100 million tonnes with a gross value of US $ 7.0 billion. With the "exclusive right" to all of the trona brines in the Adair area, the company's mineral inventory is many times larger than reported by Dr. Rosa. With the environmental permit in hand the Company is scheduled to begin mining, crushing and bagging rock trona in November, 2000 for sales to the animal feed industries initially in Sonora, Mexico. The company is proceeding to immediately sign contracts with customers in the State of Sonora totaling about 1,000 tonnes of TRONAMEX per month. Minera MGM completed a market study for the sale of trona products under the Company trade name TRONAMEX(TM) in the cities of Monterry and Guadalajara and the State of Sonora, Mexico. The study indicated that the cattle industry would purchase a total of 31,200 tonnes of TRONAMEX(TM) annually for a gross value of US $4,368,000 to be used as Rumen rumen pl. rumens, rumina; the largest of the compartments of the forestomach of ruminant animals that serves as a fermentating vat. It is lined by a keratinized epithelium bearing numerous absorptive papillae; it is partly subdivided by folds (pillars). Buffers. Morgain Minerals Inc. 121 Richmond Street West, Toronto, Ontario, Canada M5H 2K1 Tel: (416) 364-5756 1-877-682-5551 Fax: (416) 364-2595 E-mail: morgain@istar.ca Shares Outstanding: 24,228,560 The information contained herein was authorized for media release by Company President Raymond J. Mongeau and includes "forward looking statements" that express expectation of future events or results. Such statements are based upon future expectations rather than "historical facts". Therefore, a number of risks and uncertainties are involved and the Company cannot extend assurance that such statements will prove to be correct. Further details may be obtained by contacting the company directly by telephone, facsimile or e-mail. Additional information including directors' and officers' remuneration, indebtedness of officers, executive stock options and interests of management and others in material transactions, where applicable, can be found in the Information Circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible located at www.sedar.com in the Company Filings section. No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has reviewed or accepts responsibility for the adequacy or accuracy of the statements made herein. |
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