Maxam Gold Corporation Enters Solar Energy Industry in Quest for Clean Environment

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

SUBSCRIBE/UNSUBSCRIBE |

Conservation & Wildlife

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

FOR IMMEDIATE RELEASE

Maxam Gold Corporation Enters Solar Energy Industry in Quest for Clean Environment

ILLINOIS, EAST PEORIA, Feb. 5 -/E-Wire/-- Maxam Gold Corporation (MXAM) President/CEO, Dale L. Runyon and Renewable Energy Corporation (RECO) President, Reed Jensen, PhD. announced today that a joint venture Letter of Agreement has been executed between Maxam and Reco of Los Alamos, NM, the purpose of which is to build a small (25kw) power plant; a 2.5 mega-watt prototype power plant; a hydrogen production facility; and a facility to capture CO2 from a coal fired electric power plant and produce methanol or gasoline.

The joint venture, Reco-Maxam Solar Energy, LLC, is to be headed by Reed Jensen, PhD, who also is a Director of Solar Energy Limited (http://solarenergylimited.com). Dr. Jensen is a well-known innovator in the area of physical chemistry processes including laser development and applications, as well as other photochemical processes. He pioneered the area of laser driven chemistry of molecules in intense visible and infrared radiation and the companion area of very high-power lasers. He spent over thirty years with the Los Alamos National Laboratory including 20 years in directorate level programs and line management, where he managed a series of large laser and laser-chemistry programs.

Dr. Jensen stated that Reco-Maxam Solar Energy, LLC will initially exploit the intellectual property rights of the process of direct solar dissociation of carbon dioxide to carbon monoxide (SOLAREC), which was patented by Dr. Jensen and licensed to RECO. The process reduces CO2 to CO & O. The watergas shift reaction is then used to produce hydrogen from water. The process provides hydrogen without the emission of carbon dioxide. By simple extension the CO and hydrogen products can be synthesized into standard liquid fuels. In this case the process is a consumer of CO2, as from a coal-fired power plant. The rights to the process will be marketed in the Southwestern United States, more specifically Southern California, Arizona, Nevada, New Mexico, and Texas.

MAXAM has sought joint relationships for the past two years outside the precious metals industry to continue its growth and exploration ventures. Last month MAXAM announced a Joint Collaboration Agreement with an electric power plant to remove marketable and deleterious materials from their fly-ash. The Reco-Maxam Solar Energy, LLC venture is the continuation of Maxam's quest to produce a cleaner, safer, environment for the future and to develop an additional profit center for the corporation.

Safe Harbor Statement

Some statements contained in this and/or other Company correspondence are to be considered "Forward-Looking Statement" as defined under the Private Securities Litigation Reform Act of 1995. Actual results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, environmental factors, or factors relied upon from independent sources, may either negatively or positively impact progress.

MAXAM GOLD CORPORATION

Dale L. Runyon, Chairman/CEO,

(309) 699-8725; Fax (309) 699-1275,

http://www.MaxamGold.com

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************