JUPGF - JUPITER GOLD BEGINS QUARTZITE PRODUCTION
(NewsDirect)
Jupiter Gold Corporation (OTCQB: JUPGF) (“Jupiter Gold” or the “Company”) is pleased toannounce that it has initiated production of quartzite from its quarrylocated in the state of Minas Gerais in Brazil.
Yan Binda, a miningengineer experienced in quartzite, commented: “Jupiter Gold’sfirst quartzite block cut at the start of production gives out a verypositive first impression, including its tonality and pattern.Aesthetically speaking, this appears to be a highly desirable productwith commercial potential.”
Jupiter Gold filed an application for anexploration permit with the Brazilian mining department on July 12,2016 with respect to the mineral property where its quartzite projectis now located, and such permit was granted on May 3, 2017. In October2019, during geological mapping by foot, Jupiter Gold’s technicalteam discovered a formation containing quartzite. Despite difficultiesrelated to the pandemic, from March through April, 2021, a drillingcampaign was undertaken which identified extensive quartzitemineralization. Following such exploration campaign and identificationof promising material, Yan Binda, a Qualified Person for quartziteunder Subpart 1300 of Regulation S-K as promulgated by the U.S.Securities and Exchange Commission, prepared the operational plan foran open-pit quarry.
From April through August, 2021, the environmental studiesneeded for the permitting of a quartzite mine were conducted by aspecialized consulting firm. Jupiter Gold received the permit from theBrazilian mining department on April 4, 2022, and the operationallicense from the state-based environmental department on December 1,2022. During the first months of 2023, in preparation for starting thequarry, JGC hired an operational team and sourced the necessarymachinery and equipment. The first quartzite block has now beenproduced as of June 10, 2023, and photos of it can be seenbelow.
Quartzite is avery hard rock composed predominantly of an interlocking mosaic ofquartz crystals. Polished quartzite slabs have become sought after asa higher-end substitute to granite in kitchen countertops and tiles.Brazil has a robust quartzite mining industry centered in theneighboring states of Minas Gerais and Espírito Santo with smallerproducers being the norm. Each quarry produces quartzite of differentcolor and texture and therefore stones are unique to their location.The mining process for quartzite normally utilizes an open pittechnique and is relatively simple and not labor-intensive. The finalcommercial product is usually prepared as blocks of raw quartzite withbuyers responsible for the logistics of retrieving and transportingsuch blocks from the quarry.
About Us
JupiterGold Corporation (OTCQB: JUPGF) has 100% ownership in severalgold projects in development and exploration in Brazil. In particular,Jupiter Gold owns 100% of both the Alpha Gold Project, with over22,000 acres in the state of Minas Gerais, and the Alta Floresta GoldProject, with over 24,000 acres in the state of Mato Grosso. Inaddition, Jupiter Gold has recently begun production from itsquartzite mine located in the state of Minas Gerais. More informationon Jupiter Gold is available at www.jupitergoldcorp.com .
Safe HarborStatement
Thispress release contains forward-looking statements within the meaningof Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934. Forward-looking statements are basedupon the current plans, estimates and projections of Jupiter GoldCorporation and its subsidiaries (collectively, “Jupiter Gold” or“Company”) and are subject to inherent risks and uncertaintieswhich could cause actual results to differ from the forward- lookingstatements. Such statements include, among others, those concerningmarket and industry segment growth and demand and acceptance of newand existing products; any projections of production, reserves, sales,earnings, revenue, margins or other financial items; any statements ofthe plans, strategies and objectives of management for futureoperations; any statements regarding future economic conditions orperformance; uncertainties related to conducting business in Brazil,as well as all assumptions, expectations, predictions, intentions orbeliefs about future events. Therefore, you should not place unduereliance on these forward-looking statements. The following factors,among others, could cause actual results to differ from those setforth in the forward-looking statements: results from ongoinggeotechnical analysis of projects; business conditions in Brazil;general economic conditions, geopolitical events and regulatorychanges; availability of capital; Jupiter Gold’s ability to maintainits competitive position; manipulative attempts by short sellers todrive down our stock price; and dependence on key management.
Additional risksrelated to the Company and its subsidiaries are more fully discussedin the section entitled “Risk Factors” in the Company’s AnnualReport on Form 20-F filed with the SEC on April 28, 2023. Please alsorefer to the Company’s other filings with the SEC, all of which areavailable at www.sec.gov. In addition, any forward-looking statementsrepresent the Company’s views only as of today and should not berelied upon as representing its views as of any subsequent date. TheCompany explicitly disclaims any obligation to update anyforward-looking statements.
Jupiter Gold Corporation’s reports filed with theBrazilian regulatory authorities are prepared in the standards adoptedlocally and not in accordance to those of Subpart 1300 of RegulationS-K as promulgated by the SEC.
Contact
Brian W. Bernier
Head, Investor Relations & CorporateDevelopment
Jupiter Gold Corporation
(833) 661-7900
ContactDetails
Jupiter Gold Corporation
CompanyWebsite
http://www.jupitergoldcorp.com/
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