NVRO announces Management Changes and provides an update on its Proprietary Leaching Technology Commercialization

TORONTO, March 25, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK), (“NVRO” or the “Company”), a technology company enabling the mining sector to transition to a green, circular resource economy, announces the following changes to its board of directors and senior leadership team.

Management Changes

The Company announces the resignation of Mr. Malcolm Smith as Chief Executive Officer and Member of the Board of Directors. We thank Mr. Smith for his support of the company.

The Company is pleased to announce the re-appointment of Mr. David Cam as Chief Executive. Mr. Cam was the founder of EnviroGold Global and is an Executive Director. He has significant experience in bringing complex technologies to market, developing execution strategies, and creating shareholder value.

Following this announcement, NVRO’s Board remains unchanged with six continuing members that include four independent members, including the Independent Chair Allan Bezanson.

Technology Update

Following the successful completion of the small-scale pilot plant which tested materials from the Hellyer mine operation at the ALS laboratory in Perth, Western Australia in June 2023, the Company has focused on working in partnerships with major mining companies, including the BHP Think and Act Differently program (TAD).

Over the last several months, Hellyer Gold Mines Pty Ltd (HGM) has been working on the required commercial consents and this effort is continuing. These consents are needed to enable the construction and operation of the Company’s proposed full-scale plant considered at the Hellyer mine. The management of HGM has done a thorough review of NVRO and the opportunity between the companies and on that basis HGM is expected to accelerate the consent process. NVRO has re-focused on building a cost-effective, mobile, modular, small-scale plant at Hellyer mine to allow the acid recycling process and gas handling aspects of the Company’s patented technology to be further optimised with a view to enabling the start of commercial production.

The Board has recently undertaken a review of the Company’s core acid leach technology to estimate the likely investment needed to fully optimise the acid recycling and gas scrubbing steps in the process. This proprietary technology is subject to additional intellectual property applications by the Company so more details cannot be publicly disclosed at this time. The Company’s technical leadership are confident that further optimisation of the proposed plant will demonstrate the technical and commercial viability of the technology and applicability to reprocess a wide range of VMS tailings worldwide.