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DST signs US$ 1,000,000 agreement for its GlassLock Process

  April 15, 2020

MONTREAL, QUEBEC, April 15th,  2020 – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE: DST) is pleased to announce that it has entered into a commercial agreement (the “Agreement”) with a gold and copper producer (the “Client”) for the utilisation of its GlassLock ProcessTM  (“GlassLock” or the “Technology”).  As part of the Agreement, DST received a US$ 1,000,000 cash payment in return for a one (1) year exclusivity period for the application of its GlassLock ProcessTM on copper smelting operations. The Client maintains an option to renew the moratorium for an additional four (4) consecutive years upon payment of additional US$ 1,000,000 each year.

This decision was made by the Client following the completion of a successful on-site demonstration of the GlassLock in December 2019.  In addition, the Corporation received by the Client a request to submit a proposal to conduct engineering services to evaluate the full-scale implementation of its Technology at their smelter.

As per the Agreement, DST maintains all rights for the application of GlassLock on other precious and base metal projects (excluding copper smelters) associated with arsenic bearing minerals.  DST is currently developing several of these opportunities through testing or engineering studies with other strategic partners. 

The Corporation’s President and CEO, Mr. David Lemieux commented: “With the signature of this agreement, DST achieved a major and important milestone in its history.  After years of research and development, we are finally entering the commercial phase.  This new chapter is full of opportunities, particularly for gold arsenopyrite assets where our technology can make a difference.  This Agreement is sending a strong signal to the industry about the merits of DST’s Technology. We will continue working with our Client for the application of the Technology at their copper smelter, while continuing to develop these arsenopyrite bearing gold projects where the lower costs of GlassLock can generate additional value for our customers and shareholders.”

About Dundee Sustainable Technologies, a corporation controlled by Dundee Corporation

The Corporation is engaged in the development and commercialisation of environment-friendly technologies for the treatment of materials in the mining industry. Through the development of patented, proprietary processes, DST extracts precious and base metals from mineralised material, concentrates and tailings, while stabilising contaminants such as arsenic, which could not otherwise be extracted or stabilised with conventional processes because of metallurgical issues or environmental considerations.

DST has filed, published and was granted patents for both the GlassLock ProcessTM and the CLEVR ProcessTM in numerous countries.

FOR FURTHER INFORMATION PLEASE CONTACT:

Mr. David Lemieux, P. Eng.
President and CEO
Dundee Sustainable Technologies Inc.
Tel: (418) 423-7247 # 227
Cell: (418) 331-0486
info@dundeetechnologies.com

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation’s control. These factors include general market and industry conditions, risks related to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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