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NATEC RESOURCES, INC. AND NORTH AMERICAN CHEMICAL COMPANY ANNOUNCE CLOSING OF JOINT VENTURE TRANSACTION

 HOUSTON, Nov. 23 ~PRNewswire~ -- NaTec Resources, Inc. (NASDAQ: NATC) and North American Chemical Company today announced the formation of a joint venture company to produce sodium bicarbonate. The joint venture company, White River Nahcolite Minerals, will produce high quality sodium bicarbonate products from a natural deposit of nahcolite located in the Piceance Creek Basin in Western Colorado. Production capacity of the existing facility, formerly wholly owned by NaTec, is expected to be 125,000 tons per year.
 The joint venture proposal was overwhelmingly supported by the NaTec shareholders with over 98 percent of voting shareholders approving the joint venture at a special meeting of the shareholders held on Nov. 18, 1992.
 Commenting on the joint venture formation, John T. McCormack, NaTec's president and chief executive officer, stated, "The teaming with North American Chemical company through this joint venture will substantially improve NaTec's capability to cost effectively extract, process and distribute sodium bicarbonate to our utility and industrial customers utilizing our dry sorbent injection technology. Additionally, this transaction will provide NaTec with adequate levels of operating capital to pursue the clean air market."
 Michael R. Boyce, president and chief operating officer of North American Chemical Company added, "This joint venture will enable us to improve the quality and expand the supply of sodium bicarbonate to the customers we serve."
 Under the terms of the joint venture, both North American Chemical Company and NaTec Resources will continue to independently market sodium bicarbonate to their domestic and offshore customers.
 North American Chemical Company markets and produces sodium bicarbonate, soda ash, borax, boric acid and sodium sulfate. These basic inorganic chemicals serve customers in North America and 52 other countries.
 NaTec Resources is committed to the control of pollutants commonly associated with acid rain. The company provides consulting engineering injection system installation, operations and maintenance services, and sorbent supply for its dry sodium injection technology. Primary markets are utility, industrial power generation, refining, municipal solid waste and pulp and paper facilities.
 -0- 11~23~92
 ~CONTACT: John T. McCormack of NaTec Resources, Inc., 713-552-2344, or Steven P. Wolf of North American Chemical Company, 913-344-9252~
 (NATC)


CO: NaTec Resources, Inc.; North American Chemical Co. ST: Texas IN: OIL SU: JVN

TS -- NY022 -- 0391 11~23~92 10:29 EST
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Date:Nov 23, 1992
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