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NEWS OUT! Eco Ventures Group Enters Into Mineral Exploitation Agreement to Process 1,100 Tons of Highly Concentrated Black Sands Ore

GROVELAND, Fla., Dec. 12, 2011 /PRNewswire via COMTEX/ -- Eco Ventures Group, Inc. (OTCBB: EVGI) announced today that it has entered into a Mineral Exploitation Agreement with DRR Partners, LLC to process 1,100 tons of highly concentrated ore. This complex black ore being delivered by DRR is currently being tested and evaluated for its precious metal content. Per the agreement, EVGI will pay DRR a percentage of gross sales on a sliding scale ranging from 10% if the precious metal content is less than $75,000 per ton, up to 40% if the precious metal content is greater than $250,000 per ton. EVGI has no obligation to continue in the agreement if the precious metal content is less than $50,000 per ton.
EVGI will initially be using a smaller system located in Groveland Florida, which has been designed to extract rare earth elements from complex ores. Traditional leaching methods have been unsuccessful in yielding significant amounts of precious metals from complex ore bodies. EVGI will be maximizing this opportunity as pilot program to crack these complex ores. EVGI is working with its joint venture partner, Raptor Technology Group, to determine the optimal design and method to process the ore supply. EVGI believes this may represent a tremendous opportunity for the company in developing an affordable, cost effective system that can process complex ores in a commercial setting. The company hopes to develop a system that can process as much as 2 to 3 tons daily of these complex ores representing significant value.

"We are very excited to be working with DRR and exploiting their complex ore bodies with our proprietary technology and advanced extraction methods," said Randall Lanham, CEO of EVGI.

http://www.reuters.com/article/2011/12/12/idUS109797+12-Dec-2011+PRN20111212