Toronto, Ontario, October 18, 2016 – Golden Share Mining Corporation (“Golden Share” – TSXV:GSH) is pleased to announce the completion of a License Agreement with Battelle Memorial Institute (“BATTELLE”), which operates the Pacific Northwest National Laboratory (“PNNL”) for the U.S. Department of Energy.
Golden Share has been granted a nonexclusive commercial license to produce, use and sell the Vanadium Electrolytes developed by PNNL. The licensed vanadium electrolytes have advantages over previous generations, including a wider temperature-operating range and higher energy density.
Golden Share is excited about the opportunity of linking this advanced technology with its current right to market high purity vanadium through its arrangements with Northwest Mining & Exploration Group of China (“NWME”), thus enabling the production of value added vanadium electrolytes (Refer to Press Release dated May 24, 2016). Recent developments have highlighted Vanadium based Flow Batteries as a safe and efficient type of battery technology solution available for utility scale energy storage applications. The cost of vanadium electrolytes represents a significant portion of the total cost of Vanadium Redox Flow Batteries. With high purity vanadium sourced from NWME, Golden Share intends to become the preferred supplier of Vanadium Electrolytes as well as contribute to reducing the cost of Vanadium Redox Flow Batteries.
About Battelle and PNNL
Interdisciplinary teams at Pacific Northwest National Laboratory address many of America's most pressing issues in energy, the environment and national security through advances in basic and applied science. PNNL employs 4,400 staff, has an annual budget of nearly $1 billion, and has been managed for the U.S. Department of Energy by Ohio-based Battelle since the laboratory's inception in 1965. For more information, please visit the website at www.pnnl.gov.
Golden Share is looking forward to working with its stakeholders, including battery manufacturers, to make Vanadium Redox Flow Batteries the best and most practical energy storage solution available.
Golden Share also announces that three insiders participated in the flow-through and hard cash private placements respectively announced on September 8 and 20, 2016. In the flow-through private placement, one insider participated for an amount of $20,000, subscribing for 80,000 common shares at a price of $0.25 each. In the hard cash private placement, two insiders participated for an aggregate amount of $30,000, subscribing for 120,000 units at a price of $0.25 per unit (collectively, the “Insider Private Placements”). The Insider Private Placements are considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Insider Private Placements are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities issued thereunder does not exceed 25% of the Company's market capitalization. The Insider Private Placements are subject to the approval of the TSX Venture Exchange. For more information on these private placements, see the Company’s press releases of September 8 and 20, 2016.
About Golden Share
Golden Share Mining Corporation is a Canadian junior mining company focusing on exploration in the province of Ontario, a politically stable jurisdiction with a long history mineral exploration and development.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR MORE INFORMATION, CONSULT www.goldenshare.ca OR CONTACT:
Golden Share Mining Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199