XENOLIX MINING (fka XTCI)

[kzetmeir]

Maybe we're getting ready to roll!

Subject:
Stockwatch: Xenolix Technologies Corporate Development Update
Date:
Mon, 17 Sep 2001 11:04:24 -0700
From:
Stockwatch News <[e-mail]>
To:
[e-mail]




(Applies to: XTCI)

Xenolix Technologies Corporate Development Update

SUMMIT, N.J., Sep 17, 2001 (BUSINESS WIRE) -- Xenolix Technologies Inc. (OTC:
XTCI) is a development-stage precious metals technology company.

The company, which is committed to commercializing its novel analytical and
extraction nanotechnology pertaining to precious metal-bearing materials,
announced the following corporate update:

Xenolix President Austin Lett stated today that the company believes that it has
made substantial progress with the development of its commercial precious metal
extraction process from coal combustion products. Coal combustion products
("CCPs") are the ash remainders after coal is burned to produce energy.

It has now created an end product having properties similar to that which
refineries process on a regular basis. Production-sized samples have been
submitted to four separate refineries. The company has initiated confidential
discussions with each of these refiners.

Xenolix further believes that it must demonstrate the successful economics of
its processes on a recurring basis through ongoing refinery sales. This will
provide reliable data that verifies the Xenolix extraction technology.

Recently the company processed 100 pounds of the coal combustion product
fraction it is using as feedstock to produce a test run for platinum group metal
recovery. Refineries are currently evaluating splits of this test. The tails
from this run were collected, processed and submitted to a refiner for gold
content.

The refiner reported last week that it has recovered 1.1 ounces of gold for the
company's account or the equivalent of 22.2 ounces of gold per ton of feedstock.
The company is encouraged by this return but believes that the platinum group
metal content of the feedstock is substantially higher than the gold content.

As a result, Xenolix is focusing its efforts on the development of its
commercial platinum group metal extraction technology.

The company has initiated an independent, chain-of-custody, third-party test and
evaluation of the company's proprietary analytical and extraction technology on
coal combustion products. The independent testing, which is partially complete,
includes evaluating the company's recent developments of start-up commercial
production methods and processes.


Coal Combustion Products

CCPs are a waste product of combustion from commercial coal-fired power plants
commonly operated by electric utility companies to produce electricity. More
than one-half of the electricity in the United States is generated by burning
coal. According to the American Coal Ash Association, in 1998 electric utilities
in the United States produced about 100 million metric tons of CCPs.

Only 30 percent of these CCPs are now recycled mostly as additives for concrete.
The remainder is disposed of into landfills or sluice ponds at a substantial
cost to the utilities.

The company has selected CCPs as feedstock for its proprietary precious metals
process because they contain abundant source material for the Xenolix processes,
are inexpensive and are readily available without mining or permitting.

The Environmental Protection Agency classifies coal combustion products as
non-hazardous wastes and in fact promotes their recycling in federal procurement
and construction programs.


Safe Harbor

Statements contained in this press release that are forward-looking statements
are intended to be made pursuant to the Safe Harbor Provisions for the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are
subject to the inherent uncertainties in predicting future results and
conditions.

The company undertakes no obligation to update or revise these forward-looking
statements to reflect new events or uncertainties.


Xenolix Technologies Inc.

The company is a Nevada corporation headquartered in Summit, which is inventing,
researching and developing new precious metals technologies based upon the
application of the nanotechnological science it is pioneering. It is attempting
to develop for commercial application gold, silver and platinum element
analytical and extraction technologies based upon this emerging science.

The technology is designed to transform refractory (difficult to detect and
extract) precious metal-bearing materials into forms of treated materials that
respond well to standard analytical and extraction techniques.

The company believes that it has made a new discovery of a property in nature
that causes materials to be complex or refractory, and which has not heretofore
been documented in the scientific technical literature. The company is
attempting to commercialize its nanotechnological intellectual property
pertaining to precious metal-bearing materials.

There is neither any assurance that the company's proprietary technology nor the
patents it holds will be commercially successful or that, if they are, that the
company will be able to exploit them.


CONTACT: Xenolix Technologies Inc., Summit
Shareholder Services, 908/277-3632
Fax: [phone]
http://www.xenolix.com

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-0-


KEYWORD: NEVADA NEW JERSEY
INDUSTRY KEYWORD: ENERGY
ENVIRONMENT
MINING/METALS
UTILITIES
SOURCE:
Xenolix
Technologies
Inc.

STOCK SYMBOLS: [(xtci)]