February 23, 2017
(All Amounts in $CAD)
Press Release Highlights:
- The five finalists pitching their disruptive technologies "shark-tank" style at #DisruptMining are:
- Bio-Mine Ltd.
- Cementation Canada Inc.
- Goldspot Discoveries Inc.
- KORE Geosystems Inc.
- Tradewind Markets
- 11 semi-finalists will display their technology or idea during the #DisruptMining Expo
VANCOUVER, Feb. 23, 2017 /CNW/ – Goldcorp Inc. (TSX: G, NYSE: GG) ("Goldcorp") and Integra Gold Corp. (TSX-V: ICG, OTCQX: ICGQF) ("Integra" or the "Company") are pleased to announce the five finalists and 11 semi-finalists for #DisruptMining. Selecting the five finalists and 11 semi-finalists was a difficult task for the selection committee, a testament to the number of revolutionary ideas and technologies put forth in the 153 submissions received. The sold-out live finale will take place on Sunday, March 5, 2017 at the Carlu in Toronto during the Prospectors and Developers Association of Canada (PDAC) convention.
The five finalists pitching their disruptive technology "shark-tank" style to the panel of judges are:
- Bio-Mine Ltd. Using a bio-intelligent, augmenting consortium of organisms designed specifically for "targeted" metal recovery and remediation, this game changing environmental technology is programmable to specific mineralogy in many different environmental conditions. Discovered by Dr. Vasu Appanna, a Professor and former Dean of Science and Engineering at Laurentian University, also led by company co-founder Kurtis Vanwallegham, Bio-Mine Ltd. is set to drive the mining recovery and remediation sector towards the elusive and ultimate "0-footprint" goal.
- Cementation Canada Inc. Using a combination of existing and proven crushing, pumping and slurry technologies, Cementation has developed a proof of concept model for process injection hoisting that would eliminate the need for mine shaft production hoisting or trucking, transporting ore to the surface using a pump driven pipeline loop. The technology is adaptable to all mining methods and would substantially reduce energy consumption and ventilation requirements. The team at Cementation "builds mines" from design through to construction and this invention has the potential to revolutionize underground mine development to the benefit of the entire industry.
- Goldspot Discoveries developed a machine-learning algorithm capable of significantly improving mineral exploration targeting on both a regional and local scale. Goldspot Discoveries is revolutionizing the investment decision model by using the Goldspot Algorithm to stake acreage, acquire projects and royalties, and invest in public vehicles to create a portfolio of assets with the greatest reward to risk ratio. Managed by seasoned industry experts from both financial and technical backgrounds, the team is armed with a unique technological edge designed by the Data Miners, the next generation of mining genius and runners up in the 2016 Integra Gold Rush Challenge.
- Kore Geosystems Inc. The true power of machine learning and artificial intelligence can only be unleashed with robust, high quality data inputs. KORE plans to install instruments onto the drill rig that can provide real-time, automated data accelerating timelines for multiple mining stages and decision-making intelligence. The KORE team, Vince Gerrie, Aaron Maher, Sebastian D. Goodfellow, Chris Drielsma, Patrick Hooker and Chris Lane, bring together years of expertise in geology, geophysics, software engineering, and technology development.
- TradeWind Markets Inc. is a new electronic trading, settlement and custody platform for physical gold bullion. TradeWind Markets is using a combination of distributed ledger technology (blockchain) and exchange technology to unlock functionality in gold bullion, vaulted with a G7 Government counterparty. The business is a partnership between IEX, the Investors Exchange, a fair, simple and transparent stock exchange, and Sprott Asset Management, a globally recognized leader in precious metals investment.
"Congratulations to Integra Gold, Goldcorp and the five finalists of this innovation challenge. This industry-driven effort to crowdsource ideas and support bold new approaches for stronger environmental performance and enhanced productivity will help ensure Canada's minerals industry remains a source of jobs and opportunities for generations" stated the Honourable Jim Carr, Canada's Minister of Natural Resources.
Deciding the fate of the five finalists will be David Harquail, CEO, Franco-Nevada Corporation; Robert Herjavec, CEO, Herjavec Group and judge on ABC Television Network's Shark Tank; Rob McEwen, Chairman & CEO, McEwen Mining; Todd White, COO, Goldcorp Inc. and Bernadette Wightman, President, Cisco Canada. Each finalist will have five minutes to pitch and defend their idea to the panel and demonstrate how their idea or technology has the potential to #DisruptMining. Judges will have two minutes to respond and ask questions.
Goldcorp, represented by judge Todd White, has committed $1,000,000 for a proof of concept at one of its mines or investment in the winning technologies. The remaining four judges will represent $100,000 each. Following each presentation, any judge will have the ability to send a disruptor to the deal room to negotiate an investment.
The #DisruptMining Expo
In addition to the five finalists, 11 semi-finalists have been chosen for the #DisruptMining daytime expo. The expo will take place on March 5, 2017 from 2 p.m. to 4 p.m. EST at the Carlu in Toronto. To register for the #DisruptMining daytime expo, click here: https://www.eventbrite.ca/e/disruptmining-day-expo-tickets-31528270907
The 11 semi-finalists being showcased at the daytime expo are:
Acoustic Zoom Inc.
BGC Engineering Inc.
Dundee Sustainable Technologies
GroundTruth Exploration Inc.
Heads Up Display Inc.
New Mining Solutions
Integra Gold and Goldcorp would like to thank the generous sponsors of #DisruptMining: Title sponsor Raymond James and event sponsors Macquarie and BMO.
#DisruptMining is a marquee event during the annual Prospectors and Developers Association of Canada ("PDAC") conference that will showcase disruptive and exponential technologies with the potential to revolutionize the future of mining, from exploration and discovery to production and automation to financing, marketing and sustainability.
Net proceeds from sponsorships and ticket sales at the #DisruptMining finale event will be donated to charities as well as used to create scholarships designed to spur innovation in mining.
Link to #DisruptMining video: https://vimeo.com/195817154
About Goldcorp Inc. www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines
About Integra Gold Corp. www.integragold.com
Integra Gold is a junior gold exploration company advancing projects in Val-d'Or, Québec, one of the top mining jurisdictions in the world. The Company's primary focus is its high-grade Lamaque project.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, or the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp and the Transaction. Forward-looking statements include, but are not limited to, statements with respect to the benefits, effects and gains expected from the Transaction, the completion of the Transaction generally and the timing thereof, future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, targeted cost reductions, capital expenditures, free cash flow, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performance or achievements of Goldcorp, including with respect to the Transaction, to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Goldcorp will operate in the future, including the price of gold and other by-product metals, anticipated costs and ability to achieve goals. In respect of the forward-looking statement concerning the anticipated timing of closing of the Transaction, Goldcorp has provided it in reliance on certain assumptions that is believed reasonable at this time, including assumptions as to the conditions of closing of the Transaction being satisfied in a timely manner. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, among others, gold and other by-product metals price volatility, discrepancies between actual and estimated production, mineral reserves and mineral resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which Goldcorp does or may carry on business in the future, delays, suspension and technical challenges associated with capital projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Goldcorp believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Goldcorp (including with respect to the Transaction) to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the receipt of necessary competition, regulatory and third party approvals; risks related to the ability of Bluestone to finance the Transaction; risks related to the inability or failure to satisfy the conditions to the completion of the Transaction; risks related to the devotion of management time and resources required to complete the Transaction, risks related to international operations, including economic and political instability in foreign jurisdictions in which Goldcorp operates; risks related to current global financial conditions; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; environmental risks; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other by-product metals; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; risks related to the integration of acquisitions; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry, as well as those factors discussed in the section entitled "Description of the Business – Risk Factors" in Goldcorp's most recent annual information form available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof and, accordingly, are subject to change after such date. Except as otherwise indicated by Goldcorp, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of Goldcorp's operating environment. Goldcorp does not intend or undertake to publicly update any forward-looking statements that are included in this document, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
SOURCE Goldcorp Inc.
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