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Eldora Gold Concludes First Site Prioritization

10-28-2010 09:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Knight Capital

After conducting a widespread search of properties and analysis of their tailings, Eldora Gold Resources Ltd (Eldora Gold) is pleased to announce the location of its first high priority targets in Kirkland Lake, a small town in Northern Ontario located on the Mile of Gold, and the launch of its cyanide-free reclamation technology.

Meticulous development, testing and years of experience have resulted in a system that not only extracts the majority of valuable mineral content of the tailings, but also leaves the remaining tailings with a significantly lower content of the acid-forming minerals from the original ores. Testing and analysis involves sample collection, mineral processing testwork, chemical analysis of all products and preparation of a test metallurgical balance table.

Eldora Gold had been invited to prominent mining communities earlier this year and began verifying the mineral content of the numerous tailings through certified sample testing. The company will now supply clients both the equipment and training necessary to extract the mineral concentrate. Due to its extensive relationships, Eldora Gold also provides the buyer for extracted concentrate.

In 1911, a prospector, William Wright stumbled onto and staked a quartz outcrop and in the process discovered the main ore-bearing fault of the Kirkland Lake gold camp. Later those claims became the nucleus of three great mines: the Sylvanite, Wright–Hargreaves and Lakeshore. Prior to closing, many others opened in the years to come to produce rich tailings ponds: Toburn, Kirkland Minerals, Sylvanite, Teck-Hughes and Macassa.

Eldora Gold has developed a proprietary and environmentally-friendly separation technique for extracting mineral content from mining tailings and effectively monetizing the gold recovery. Because initial testing in Kirkland Lake exceeded expectations, the next highly anticipated stage is pilot plant-scale testing on Eldora Gold equipment to verify lab-scale results, and to provide sufficient sample material required by concentrate placement partners.

From an environmental standpoint, tailings have always been an unwanted byproduct of mining. These tailings are left in piles and potentially leach environmentally-destructive materials into the surrounding soil and groundwater. Processing tailings thus also reduces the negative environmental impact of remaining chemicals from the original mining process.

For further information, emails can be sent to:

Eldora Gold is a Canadian company that has developed and is offering a proprietary separation technique for extracting mineral content from mining tailings. The company also provides mineral evaluation analysis as an additional service. The company is currently seeking a listing of its shares on the Frankfurt Stock Exchange, Open Market.

Knight Capital
6 Shields Court
Toronto, ON L3R4S1
Graeme Boyce, IR

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