Sign Letter of Intent for IXOS® Mining Technology Trials
NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES
Rio2 Limited and Sixth Wave Innovations Inc.
Sign Letter of Intent for IXOS® Mining Technology Trials
Halifax, Nova Scotia/ Vancouver, BC – (September 15, 2020) – Sixth Wave Innovations Inc.
(CSE:SIXW) (OTCQB:ATURF) (FSE:AHUH) (“ Sixth Wave ”) and Rio2 Limited (“ Rio2”)
(TSXV:RIO) (OTCQX: RIOFF) (BVL: RIO) are pleased to announce that they have executed a
non-binding Letter of Intent (“ LOI”) for the trialing of Sixth Wave’s patented IXOS ® purification
polymer (the “IXOS® Mining Technology”) for Rio2’s Fenix Gold Project in Chile.
Under the terms of the LOI, Rio2 will send representative ore samples from its Fenix Gold Project
to Sixth Wave for testing and analysis in its Salt Lake City facility. Sixth Wave will perform a
combination of leaching and recovery tests using its IXOS ® Mining Technology on these samples
consistent with protocols for the expect ed heap leach mining activity planned for the Fenix Gold
Project. Upon completion of the testing, to be performed in October of this year, and pending
positive results, the two companies will work to negotiate a definitive agreement to proceed to a
complete on-site pilot Adsorption/Desorption/Recovery (ADR) plant scaled to operate on a 400t
pilot leach pad.
The objective of this work, from Rio2’s perspective, is to determine whether Sixth Wave’s IXOS®
Mining Technology can be successfully applied to enhance the extraction of gold from Fenix Gold
ore by using molecularly imprinted polymers rather than traditional carbon for the gold adsorption
process. If successful, the application of the IXOS ® Mining Technology is expected to result in a
reduction of capex and opex related to the gold extraction process.
Upon successful completion and positive results of the pilot program, the companies would then
move to an implementation phase incorporating the IXOS ® Mining Technology in the actual
processing plant to be constructed at the Fenix Gold Project.
“We are very excited about this project and working with Rio2. The IXOS ® process should excel
in comparison to traditional activated carbon because of the high rejection of base metal and
scaling and the smaller process plant required for IXOS®. Substantially lower power consumption
in the desorption and recovery stages and no need for regeneration will also play a large role in
reduced opex,” noted Dr. Jon Gluckman, President and CEO of Sixth Wave Innovations Inc. He
went on to say, “It is exciting to be involved with Rio2 at this phase of the Fenix Gold Project as it
allows us the ability to optimize the design of the ADR circuit without having to worry about retrofit
constraints.”
“Rio2 is always looking to embrace and trial new technology with the objective of bringing
enhanced value to our stakeholders through the reduced capex/opex opportunities that innovative
technologies can bring. The Fenix Gold Project is currently the largest undeveloped gold heap
leach project in the Americas and we look forward to working alongside Sixth Wave during the
development phase of the project,” stated Mr. Alex Black, President and CEO of Rio2 Limited.
About RIO2 Limited
Rio2 is a mining company with a focus on devel opment and mining operations with a team that
has proven technical skills as well as a successful capital markets track record. Rio2 is focused
on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based
on a staged development strategy. In addition to the Fenix Gold Project in development in Chile,
Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its
operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction,
precious metals company focused in the Americas.
To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR profile at
www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director
Email: [email protected]
Tel: 1 (604) 260-2696
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that
focus on extraction, purification, and detection of target substances at the molecular level using
highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of
commercializing its, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of
industries. The company is focused on nanotechnology architectures that are highly relevant for
detection, purification, and separation of viruses, biogenic amines and other pathogens, and
nutraceuticals for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our web site at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jon Gluckman”
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: [email protected]
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information
(collectively “forward-looking information”) within the meaning of applicable securities laws,
including statements regarding Rio2’s planned development of its Fenix Gold Project, other
aspects of Rio2’s anticipated future operations and plans, and the testing and performance of
Sixth Wave’s IXOS® Mining Technology.
All statements included herein, other than statements of historical fact, may be forward-looking
information and such information involves various risks and uncertainties. Forward-looking
information is often, but not always, identified by the use of words such as “seek”, “anticipate”,
“plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”,
“intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking
information is based on certain key expectations and assumptions made by management of Rio2
and Sixth Wave, including but not limited to: expectations concerning prevailing commodity prices,
exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies;
legislative and regulatory environment of Chile; future production rates and estimates of capital
and operating costs; estimates of reserves and resources; anticipated timing and results of capital
expenditures; the sufficiency of capital expenditures in carrying out planned activities;
performance; the availability and cost of financing, labor and services; and Rio2’s ability to access
capital on satisfactory terms.
Rio2 and Sixth Wave believe the expectations reflected in these forward-looking statements are
reasonable, but no assurance can be given that these expectations will prove to be correct and
such forward-looking statements in this press release should not be unduly relied upon. A
description of assumptions used to develop such forward-looking information and a description of
risk factors that may cause actual results to differ materially from forward-looking information can
be found in disclosure documents of both Rio2 and Sixth Wave on the SEDAR website at
www.sedar.com or the websites of Rio2 ( www.rio2.com) and Sixth Wave ( www.
www.sixthwave.com), respectively. In particular, successful commercial deployment of the IXOS®
technology is subject the risk that the technology may not prove to be successful in achieving
sufficient environmental or production efficiencies, uncertainty of timing or availability of required
regulatory approvals, lack of track record of developing products for mining applications and the
need for additional capital to carry out product development activities. Forward-looking statements
included in this press release are made as of the date of this press release and such information
should not be relied upon as representing its views as of any date subsequent to the date of this
press release. Rio2 and Sixth Wave have attempted to identify important factors that could cause
actual results, performance or achievements to vary from those current expectations or estimates
expressed or implied by the forward-looking information. However, there may be other factors
that cause results, performance or achievements not to be as expected or estimated and that
could cause actual results, performance or achievements to differ materially from current
expectations. Rio2 and Sixth Wave disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available. Not for distribution to U.S. Newswire Services or for dissemination
in the United States. Any failure to comply with this restriction may constitute a violation of U.S.
Securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy
of this release.