Chuca,
The Canadian Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
I say I bet I can prove them wrong thru discovery.
NEWS RELEASE: July 19, 2000
CALGARY, Alberta: On June 16, 2000 the Canadian Venture Exchange Inc. halted trading of the common shares of Birch Mountain Resources Ltd. (BMD:CDNX) and on June 28, 2000 trading of the Company’s common shares was suspended. Birch Mountain was advised that the CDNX wished to review technical documents related to disclosures made by Birch Mountain in a news release dated June 15, 2000. Birch Mountain provided confidential documents, together with additional information and an explanation of the Company’s research and development to the CDNX for its evaluation. The CDNX has subsequently requested independent verification that proprietary precious metals extraction technology, currently under development by Birch Mountain, produces solutions that contain precious metals. Preparations for the independent verification are underway.
Birch Mountain wishes to clarify certain statements made in its news release of June 15, 2000, relating to the discovery of a new form of naturally occurring metal in rocks from its Athabasca property. The discovery was made by Birch Mountain personnel in a university laboratory and was confirmed at a Canadian government laboratory. Further, work conducted in these two laboratories showed that Birch Mountain’s patent pending extraction technology was capable of recovering this form of metal into solution. Birch Mountain provided all rock and solution samples to the laboratories for these tests. A statement referring to, “the new form of gold and platinum group metals…” in the news release of June 15, 2000, was not a direct result of the work done in these laboratories. Analyses performed in Birch Mountain’s in-house laboratory on rocks from Athabasca detected precious metals in the extract solutions. From these and other previously announced results, including scanning electron microscopy, Birch Mountain believes that the precious metals detected in the extract solutions are related to the new form of metal observed by the third party laboratories. Confirmation of precious metals in the extract solutions has not been independently confirmed and is in the process of verification in cooperation with the CDNX.
Birch Mountain also wishes to clarify its status and the evolution of its business model. Research and technology development, by necessity, has gradually become Birch Mountain’s primary focus and forms the major part of the Company’s direct expenditures. Birch Mountain has increasingly directed its efforts towards developing a comprehensive research and technology capability through construction of its laboratory facility and by retaining leading consultants, researchers and laboratories. By evolving into a high technology company and securing its intellectual property by filing a U.S. patent application, Birch Mountain is positioning itself to identify and exploit opportunities arising from its technology.
Today, Birch Mountain is best characterized as a materials technology company that holds the mineral rights to a large land position. Birch Mountain will continue to focus its efforts on developing new technology and as a result, the asset base continues to diversify and the Company’s value may increasingly reside in its intellectual property.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Douglas Rowe, President and CEO
Don Dabbs, Vice President
Jane Quinn, Shareholder Services
Birch Mountain Resources Ltd.
Tel 403.262.1838 Fax 403.263.9888
Internet Home Page birchmountain.com
FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding research and technology development, potential mineralization and reserves, exploration results and future plans and objectives of Birch Mountain Resources Ltd. (``Birch Mountain”) are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Birch Mountain’s expectations are disclosed elsewhere in Birch Mountain’s documents filed from time to time with the Canadian Venture Exchange and other regulatory authorities. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Birch Mountain does not undertake any obligation to update forward-looking statements should conditions or management's estimates or opinions change.
The Canadian Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
