EKWAN-X: Acquiring Further Mineral Exploration Rights To The States Of California, Colorado, And Utah
2005-12-13 13:35 ET - News Release
MISSISSAUGA, Ontario -- (Business Wire) -- Dec. 13, 2005 EKWAN-X (OTCBB:EKWX) is pleased to announce that the board of directors of Ekwan Techno logy Corporation Inc. ( a private technology company which provides HYPERSPECTRAL TECHNOLOGY to various clients in a variety of industries ) has approved the granting of exclusive rights to it's technology in the states of California, Colorado and Utah in exchange for the issue of three hundred million shares of Ekwan-x and a 20% N.P.I. in any mineral discovery made in these areas.
This will give Ekwan-x the exclusive use of this technology in the most favorable areas of the U.S.
Our initial target area, the Virginia City mining district of Nevada, is one of the most prolific mineral producing regions in the world and is home to the famous Comstock Lode. Samples collected previously, are being used to refine the definition of this target area for further follow up work. The purpose of this sample collecting is to identify marker minerals associated with known economic mineral deposits. This process is time consuming in that it requires meticulous lab work, careful analysis and comparison studies. The results when ready will provide marker minerals that can then be used to allow Ekwan-x to dramatically accelerate it's follow up surveys
utilizing airborne equipment. Ekwan-x is also continuing it's planning of a similar program for the state of New Mexico, for Uranium.
Ekwan-X has at present approximately one and a half billion shares outstanding and will have to continue to issue more shares, to continue it's required financing activity. The company has approximately $250,000.00 in working capital and no debt, our present overhead costs are approximately $ 1,000.00 a month. These figures will change when further financing becomes available and our field and lab activity increase.
EKWAN-X is a mineral exploration company utilizing a very advanced exploration technology. We believe that EKWAN-X has a high probability of making a mineral discovery which will have a significant economic impact on EKWAN-X.
EKWAN-X (OTC Bulletin Board:EKWX)
Contacts:
EKWAN-X
Ed Godin
President
(416) 805-3036
Fax: (905) 276-4862
www.Ekwan-x.com
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