New Generation Consumer Group, Inc.s Urban Mining Ventures
Announces Joint Venture Partnership with Victory Resources
Corp.
Los Angeles, CA -- August 31, 2016 -- InvestorsHub NewsWire
-- New Generation Consumer Group, Inc. (OTC: NGCG)
("NGCG" or the "Company") who has recently changed its name with
Delaware SOS to Urban Mining Ventures Inc., is excited to announce
a new Joint Partner, Victory Resources Corp. (Symbol VR-TSXV)
Victory Resources Corporation is a growth focused mineral company
creating value through the exploration and development.
The Agreement will provide the company a twenty-five (25%)
percent interest in the mineral rights to the V-LITH mineral
property which consists 29 claim units totaling 464 hectares (1147
acres).
The Property is located between Rich Lake to the south and
Opikeigan Lake to the north in the Thunder Bay Mining District and
Rich Lake Township in the north-central portion of the province of
Ontario, Canada.
In the initial exploratory work on the Rich Lake property it has
shown to host numerous pegmatite dykes which have been explored for
their lithium and precious metal bearing mineralization. The
Lilypad Lakes pegmatites do host lithium minerals as reports of a
10.4 meter drill intersection assaying 1.08 percent Li20 in a drill
hole intersection and assays as high as 2.05 percent Li20 and 4.45
percent Li20. Historically, on the Rich Lake ground, a sample taken
from a structure exposed in a shaft returned an assay of 1.0 ounces
gold per ton.
Mr. Kim and his advisors have been working several months on the
details of Joint Venture with Victory and their CEO Roger Frost. It
was decided from reviewing the initial exploration information that
there is sufficient evidence that the V-LITH property has
significant Lithium deposits to proceed with a exploration program
which is estimated to take two to six months to complete and
produce a NI 43-101 report. The company will contribute $100,000
for the completion of the NI 43-101 report.
Mr. Kim is extremely excited about the potential for the Victory
project and future announcements concerning Victory and Mr. Frost.
According to Kim This new alliance forms the foundation which I
needed to catch the attention of my partners overseas and as I
forge ahead with my plans to become further involved with our new
partners from Canada., Based on my long history with my friends in
Hong Kong, I am confident that I will receive the support to take
this project to the next level. Victory CEO Roger Frost stated, The
Company is elated to form a partnership with Urban Mining Ventures
Inc. Mr. Frost believes with lithium becoming one of the top
resources in the future of mining, the joint venture agreement will
help propel both companies to become a force in the mining
industry.
Mr. Kim is currently in talks with two separate overseas groups
who are claiming to have process equipment which will enable the
efficient dismantlement and reclaim processes used in asset
recovery which until now was only available through the use of
cheap labor overseas. While he is currently in the vetting process,
it seems that fundamentally the equipment seems to meet both
economic viability tests and would be complicit with the more
stringent North American environmental requirements.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements. Words
such as "expects," "intends," "believes," and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements involve a number of risks and uncertainties, including
the timely development and market acceptance of products and
technologies, the ability to secure additional sources of finance,
the ability to reduce operating expenses, and other factors
described in the Company's filings with the OTC Markets Group. The
actual results that the Company achieves may differ materially from
any forward-looking statement due to such risks and uncertainties.
The Company undertakes no obligation to revise or update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
CONTACT:
Tom Kim, CEO
Urban Mining Ventures, Inc
213-622-3133