Gold Exploration in West Africa

[FL]

New: Green Technology Solutions (GTSO), ridiculously named, now in gold exploration business in West Africa

["Green Technology Solutions" seems like an absurd name for a company in two of the most-polluting businesses known: gold mining and rare-earths mining. The latter releases not only chemical poisons but also radioactive waste; see Molycorp's experience. The following announcement is about companies other than the announcer. ]

African Gold Miners’ Soaring Revenues Embolden GTSO’s Exploration Efforts

Business Wire 11/17/11 - 06:00 AM EST

Green Technology Solutions, Inc. (OTCBB:GTSO), an emerging precious metals exploration company, revised its own expectations for its exploration efforts in Africa after two gold mining companies operating in the region reported increases in production and revenues this month. Canadian Gold miner Iamgold Corp. reported a third-quarter profit of $50.8 million as increased production and gold prices pushed revenue up more than 80 percent. Much of that success is attributed to the company’s Essakane mine in Burkina Faso, where production has increased significantly since last year. Like many gold producers, Iamgold is boosting output to benefit from record gold prices this year as investors seek a haven from Europe’s sovereign debt crisis.

Another gold miner in Africa, Rangold Resources Ltd., announced earlier this month that it expects its gold production to increase as much as 22 percent next year as output from its mines in Mali and the Ivory Coast rises. High gold prices and a worldwide surge in demand has sent the company’s earnings growth spiraling upward. Rangold’s net income more than quadrupled to $106.8 million in the third quarter from the previous year as gold sales more than doubled to $309.6 million.

GTSO, which is currently finalizing a strategic partnership with Chery Minerals to develop new gold resources in the African nations of Mali, Burkina Faso and Ghana, has been greatly encouraged by the success of other gold developers in West Africa, said CEO Paul Watson.

“The impressive increases in production and revenues posted by Iamgold, Rangold and others only proves that we’re on the right track in Africa,” Watson said. “With gold prices likely to remain high, gold mining and exploration in the region is set for tremendous growth. GTSO has a plan in place to capitalize on that growth, and we’re right on schedule to achieve our goals.”

GTSO plans to service a fast-growing global appetite for rare earth and precious metals to compete in an exciting sector that includes Randgold Resources Ltd. (NASDAQ: GOLD), AngloGold Ashanti Ltd. (NYSE: AU), SPDR Gold Shares (NYSEArca: GLD) and IAMGOLD Corp. (NYSE: IAG).

To track gold’s meteoric rise and learn more about GTSO’s resource development initiative, please visit www.gtsogold.com/investors.

About Green Technology Solutions, Inc.

Green Technology Solutions, Inc. [ www.GTSOgold.com] is a growth-oriented company exploring precious metals production around the world. In addition to gold, GTSO pursues the acquisition of rare earths and emerging clean technology innovations. To learn more, please visit our website at www.GTSOgold.com/investors.

Follow us on Twitter at http://twitter.com/gtsogold.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.