September 16, 2020, Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.: NHVCF) (the “Company” is pleased to announce the early completion of its 6.9-mile electrical powerline project, with the system being energized on September 9 and the diesel generator bank shut down on September 10. The Moss mine is now linked to the Mojave Electric power grid, and the Company is now beginning to realize numerous benefits, which include:
•Reduction of electrical costs from approximately $0.31 per kwh to a grid system cost $0.08 per kwh;
•Operational and maintenance savings of $15 to $20 million over the life of mine;
•Reduction in AISC of ~$50 per gold ounce; and
•Significant environmental benefits by switching from diesel generators to grid power.
Kenneth Berry, President and CEO, stated: "I am extremely proud of our team’s achievements in building the Moss Mine into Arizona’s largest pure gold and silver producer. The completion of the powerline and successful connection to the electrical grid further reduces our operating costs, improves reliability, and is a demonstration of Northern Vertex’s commitment to sustainability by reducing our carbon footprint. Furthermore, the Company will continue with several cost savings initiatives which include: the successful transition to McCoy and Sons as our dedicated mining contractor; the completion of the Intermediate Leach System to accelerate gold recoveries; and our on-going exploration success of recent drilling to establish the Moss Mine as a highly profitable, long-life operation.”
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp. is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions, and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex’s corporate goal is to become a mid-tier gold producer.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
President & CEO