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Thu, August 23, 2012

GTSO Sees Dodd-Frank as an Opportunity in Tungsten Mining


Published on 2012-08-23 06:02:36 - Market Wire
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SAN JOSE, Calif.--([ ])--GTSO Resources, the mining subsidiary of Green Technology Solutions, Inc. (OTCBB: GTSO), welcomed the finalization this week of new rules from U.S. regulators on overseas mining that will require the disclosure of payments to foreign governments and help halt the flow of unethical "conflict minerals."

"GTSO isnat threatened at all by these new rules because weare highly focused on building quality operations with the utmost of transparency"

GTSO CEO Paul Watson said on Wednesday that the new Dodd-Frank regulations would help level the playing field for smaller companies seeking transparency in their business dealings in Africa and other regions where vast mineral wealth hasnat translated to local prosperity. Research by a U.N. Group of Experts last year found that the law had already helped reduce the sums earned from tungsten, tin and tantalum mining used to support warlords and buy guns.

aGTSO isnat threatened at all by these new rules because weare highly focused on building quality operations with the utmost of transparency,a Watson said. aItas our competitors who are seeking unfair advantages that will be hurt. Thatas why our company has spent so much time finding the appropriate partners, including Diamond V Associates (DVA) and their contacts in the Africa Support Network (ASN), to facilitate valid operations in Ghana and other troubled regions that focus on helping local communities through resource development.a

Through its joint venture with DVA, GTSO is exploring new tungsten mining opportunities in West Africa as well as North America. As China, the worldas primary minerals producer, tightens supplies of tungsten, the metalas value has doubled in recent years. This has sparked a global rush to develop new tungsten resources on which GTSO is working to capitalize.

The exploration of traditional mining operations in Africa is only one of GTSOas ongoing mining projects. The company is also working to increase its footprint in the booming urban mining industry and has already engaged in initial talks with potential acquisition and joint venture targets.

GTSO plans 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 ].

Notice Regarding Forward-Looking Statements

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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