Gold Exploration in West Africa

[FL]

Haber (HABE) and Gold City $10 Million Joint Funding Venture; Agreement Will Expedite Expansion of Operations, Acquisitions

ARLINGTON, Mass., Sep 12, 2005 (BUSINESS WIRE) -- Haber, Inc ("Haber"), (HABE), a Delaware corporation headquartered in Arlington, Mass., with proprietary technologies for the environmentally friendly processing of gold bearing ores and other precious metals recovery from E-waste (electronic waste generated from discarded computers, cell phones, TVs, printers etc), announced today that it has signed an agreement to enter into a joint venture with its licensee, Gold City Inc. ("Gold City"), a privately held Nevada mining and exploration corporation that owns and controls gold mining sites in Nevada, Arizona and Ghana.

Under the terms of the joint venture, Gold City will provide up to $10 million to Haber Inc. ("Haber") in exchange for up to a total of 5 million shares of Haber restricted stock and for up to a total of 50 percent of all profits generated by Haber's recently acquired Okeechobee, Fla., gold ore and E-waste facility, along with other designated precious metals related projects, including certain aspects of previously announced and future operations that are to be financed with the funds. In the event that Gold City does not provide Haber with the entire $10 million, it will receive a lower number of shares of Haber common stock and reduced profit participation.

Haber has already received $300,000 from Gold City as an initial installment. Gold City anticipates that it will raise the balance of the funds through a private placement of its own shares and/or through other capital markets.

As part of the terms of the agreement the board of directors of Gold City has announced the appointment of Albert B. Conti, Haber's president and COO, to the Gold City board of directors. Daniel Dajie, Haber's vice president of commercial development also serves as one of the five Gold City directors.

Conti stated "This joint venture agreement will provide the financial resources necessary to fund our commercial activities on an accelerated basis, which include Haber's expanded Florida operations and other joint venture projects in the United States and Ghana. Also, this synergistic arrangement provides Gold City with the opportunity to share revenues in E-waste and other specific Haber minerals-related opportunities, while at the same time allowing Haber to share in Gold City revenues." Haber currently owns 2 million shares of Gold City stock from its licensing agreement, which represents approximately 20 percent of Gold City's currently outstanding common stock.

In addition, under its existing licensing agreement with Gold City, Haber receives royalties on all mining projects outside this joint venture.

Norman Haber, CEO and chairman of the board, Albert B. Conti, Haber's president and COO and Peter D'Angelo, Haber's CFO, executive vice president and secretary, have acquired interests in Gold City, Inc.

"We are pleased to enter into this joint venture agreement," said Patrick Anfinson, president of Gold City, Inc. "It strengthens the already close ties between our two companies and will provide shareholders with revenues from E-waste processing and ore production expected in the short term from Haber's Florida plant, and other joint projects which will help fund our ongoing and future mining and exploration activities. Gold City's objectives have always been to provide maximum shareholder value, while at the same time helping to preserve the environment. We believe that these goals are not mutually exclusive and can be best achieved by our use of the environmentally friendly Haber processes with their superior extraction and recovery characteristics."

About Gold City, Inc.

Gold City, a privately held Nevada corporation, is engaged in mining and exploration and owns and controls gold mining sites in Nevada, Arizona and Ghana, West Africa. The company is Haber Inc.'s licensee for application of the mercury and cyanide-free Haber Gold Process (HGP) and the Haber Recovery Process (HRP). Through its subsidiary, Gold City Ghana, Ltd., Gold City is currently assisting Haber's subsidiary, Haber Mining Ghana Ltd., in the implementation of the Strategic Abatement of Mercury and Poverty Program ("STAMP") and in other mining projects.

About Haber, Inc.

Haber, Inc. is a high technology process development company with proprietary technologies in extractive metallurgy and electrochemical separations. These technologies include the company's Haber Gold Process (HGP) and Haber Recovery Process (HRP), chemical systems discovered by Norman Haber, the chairman of the company, for the hydrometallurgical extraction and recovery of gold from its ores. The Haber Gold Process is both non-toxic and more efficient than conventional solvents such as cyanide. This technology accelerates the gold extraction rate and may increase gold recovery from its ores by a substantial factor. The company's Electromolecular Propulsion (EMP) technology is an electrochemical process that enables the electrically controlled movement or positioning of a variety of different molecules. It is distinguished from the techniques of electrophoresis and chromatography by its wide variety of potential applications and the greater speed and control of the results. For more information, call Peter R. D'Angelo [phone], or visit the company's website at http://www.habercorp.com.

Safe Harbor Statement

Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of Haber Inc. or Gold City, Inc. are qualified. Haber Inc. or Gold City, Inc. disclaim any obligations to update any forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE: Haber, Inc.

Haber, Inc.
Peter R. D'Angelo, 781-643-2727


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