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Wed, August 22, 2012

GTSO Pushes Forward on Tungsten Deals


Published on 2012-08-22 03:03:35 - Market Wire
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SAN JOSE, Calif.--([ ])--[ GTSO Resources ], the mining subsidiary of Green Technology Solutions, Inc. (OTCBB: GTSO), announced today that it will push forward in its pursuit of traditional tungsten mining opportunities around the world with support from its joint venture partner, [ Diamond V Associates ] (DVA)a"beginning in Africa.

"Weare anticipating very encouraging testing results from these cores, and if the amounts of tungsten and other valuable minerals in the black sands samples are found to be economically recoverable, we plan to move forward immediately with the development of new mining operations in Ghana"

This week, the joint venture will send new black sands core samples recovered by DVA in Ghana to an ALS Minerals laboratory for assay. Boasting more than 60 labs and offices around the globe, ALS is a global leader in analytical data service and metallurgy services for the mining industry.

aWeare anticipating very encouraging testing results from these cores, and if the amounts of tungsten and other valuable minerals in the black sands samples are found to be economically recoverable, we plan to move forward immediately with the development of new mining operations in Ghana,a said GTSO CEO Paul Watson.

Western Africa is a major area of focus in GTSOas efforts to establish potentially lucrative tungsten mines. The companyas deal with DVA allows it to explore promising opportunities in an explosive region, Western Africa, possessed of vast mineral resources. The joint venture is also pursuing tungsten resources near Alaska's Yukon River.

The metal's unique properties make it essential to the manufacture of everything from drill bits to cruise missiles, and there are no known substitutes. For years, China has controlled global tungsten supplies, producing about 80 percent of worldwide consumption and pricing competitors out of the market.

Now, China is cutting back dramatically on exports, reserving its tungsten supplies for its own use. The result is that tungsten has seen an eight-fold increase in value since 2000.

GTSO is working to service a fast-growing global appetite for rare and precious metals to compete in an exciting sector that includes FMC Corp. (NYSE:FMC),North American Tungsten Corp. Ltd. (TSXV:NTC.V), Newmont Mining Corp.(NYSE:NEM), and Rio Tinto (NYSE:RIO).

AboutGreen Technology Solutions, Inc.

Green Technology Solutions, Inc. [[ www.GTSOresources.com ]] is a growth-oriented company exploring rare earth minerals and precious metals production around the world. To learn more, please visit our website at[ www.GTSOresources.com/investors.html ].

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words abelieves,a aexpects,a aanticipatea or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyoneas past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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