CHANDLER, AZ -- (Marketwire) -- 02/23/12 -- AuraSource, Inc. (OTCBB: ARAO), a developer of hydrocarbon clean fuel and mineral material beneficiation technology, today announced that it has entered into exclusive North American license with Gulf Coast Holdings, LLC ('GCH') to use its ultrafine grinding and gravity separation process for precious metal beneficiation. GCH will pay AuraSource a royalty of five percent of gross revenue on the minerals processed using this technology.
David Shaheen of GCH stated, 'This technology will allow us to extract precious metals more efficiently with less of an environmental impact. The AuraSource technology brings great value to our Company. '
Philip Liu, AuraSource's CEO, stated, 'Licensing parts of our intellectual property allows us to bring to market our technology on a more expedited basis. This also shows viability with tangent applications.'
AuraSource is focused on the development and production of environmentally friendly and cost-effective industrial energy and feedstock used for industrial applications. AuraSource's core technology includes ultrafine grinding and impurities removal processes. Initial industrial applications of AuraSource technology are ultra-fine coal water mixture for heavy oil substitution, and low-grade iron ore fine and slimes beneficiation.
For more information about AuraSource, please visit www.aurasourceinc.com.
SAFE HARBOR STATEMENT
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. AuraSource has tried, whenever possible, to identify these forward-looking statements using words such as 'anticipates,' 'believes,' 'estimates,' 'expects,' 'plans,' 'intends,' 'potential' and similar expressions. These statements reflect AuraSource's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause AuraSource's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. AuraSource undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.