LINDON, Utah, June 5, 2013 /PRNewswire/ -- MineralRite Corporation (OTCQB: "RITE") is pleased to announce it continues to generate revenue from equipment manufacturing and sales from its wholly owned subsidiary, Goldfield International, Inc. ("Goldfield").
In March 2013, MineralRite completed the acquisition and took over operations of Goldfield International Inc., (www.goldfieldint.com), a premier supplier of alluvial gold, diamond and other gem stone recovery equipment manufactured in the United States.
Goldfield completed ten units since the acquisition and shipped them to various places around the world. Each unit shipped averaged approximately $10,000 USD per unit in revenue. "We find ourselves at the forefront of educating and empowering miners, artisans, and enthusiasts. Not only are we building a global business based on sound fundamentals, we are helping create jobs and stabilize local communities by providing them the tools necessary to develop their own natural resources," said Kent Harmon, President of Goldfield.
"We are extremely pleased with the progress Goldfield has made in just these few short months since becoming a part of MineralRite. Not only are they 'literally' building wealth from the ground up, they are doing it responsibly. Goldfield uses a non-toxic environmentally friendly processes, not only our own, but in several other countries around the world, including Africa and South America," said Guy Peckham, President of MineralRite.
In addition, Goldfield is in the final stages of completing a 300 ton per hour mineral washing system that will be shipped within the continental united states and put into operation for the recovery of gold.
ABOUT GOLDFIELD- Goldfield brand of mechanical separation equipment has been in production since 1978 and has been shipped to customers in 32 countries. Goldfield headquarters and manufacturing facility entails over 40,000 sq. feet of space at 55 South Geneva Road in Lindon, Utah.
ABOUT MINERALRITE CORPORATION
MineralRite Corporation is engaged in the processing, certification and sales of precious metals including gold, silver, and the platinum group metals. Using various proprietary and ecologically friendly processes and technologies, the Company extracts precious metals from mining operations ore, reclaimed mine tailings and high value concentrate material.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: MineralRite Corporation encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by MineralRite Corporation that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
55 South Geneva Road
SOURCE MineralRite Corporation