Resource World Magazine

48 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 1 5 Todd Thompson, President of Clean Oil Innovations, displays the results of his company's proprietary chemical technology, KBT-1, that separates bitumen from oil sands without heat or much water. Photo courtesy Clean Oil Innovations Inc. OIL & G A s JoShUA GoLD RESoURCES INC. [JSHG- OTC PK] announces that it has entered into a Letter of Intent with NexGen Oil Inc. and Clean Oil Innovations Inc. (collectively Clean Oil) to acquire the Canadian rights to Clean Oil's innovative and proprietary diluent, which provides an efficient and cost effective means of extracting more oil from a well or reserve (be it oil sands, shale, etc.) than current techniques. Clean Oil's proprietary chemical tech- nology, KBT-1, facilitates a reduction in the need for steaming, or super heating the ground or reserve area, thus elimi- nating the unnecessary burning of vast quantities of natural gas and the resultant carbon footprint. KBT-1 can also help in eliminating the large and polluted tail- ings ponds associated with the current oil sands extraction techniques. The use of the KBT-1 should help to mitigate fears of water table contamination through these tailings ponds. Todd Thompson, President of Clean Oil, told Resource World, "I started work- ing on the technology about six years ago. My initial objective was to eliminate or greatly diminish the amount of heat that was being used in oil extraction to reduce the carbon footprint and to reduce the amount of water being used and to make sure that the water being used was not contaminated." Thompson said Clean Oil's KBT-1 chemical technology addresses criticisms regarding excessive amounts of water and natural gas used to extract oil from oil sands as well as toxic water held in tailings ponds. "Fortunately, not only was I able to reach the primary objective of environ- mental improvement, but we showed superior performance in terms of produc- tion as well as cost," said Thompson. "The fact is that I am able to take oil sands and remove far more oil than other current processes in a fraction of the time with absolutely no heat and virtually no water. This water is completely re-useable and not polluted. This is a game-changing technology. Our KBT-1 chemical technol- ogy demonstrates that we have a better extraction technology than is currently being used and it will be the stimulus to demand an improvement across the board." "We are just now using this technol- ogy for a project in California…as well as one or two pilot projects in Canada," said Thompson. "The technology works in the winter and it has extracted oil at below zero temperatures." "KBT-1 is revolutionizing not only the production and transporting of heavy oils and oil sands, but will go a long way towards minimizing the negative impact to our air and water supplies created by cur- rent extraction and transporting methods. KBT-1 produces more oil, for less money, than any other known product or pro- cess, while at the same time practicing great environmental stewardship," said Thompson. Joshua Gold's acting president, Ben Fuschino, commented, "I have been deal- ing with Todd Thompson for quite a while, and after seeing KBT-1 in action in a dem- onstration in California, I am extremely excited to be a part of this revolutionary development for our company." Under the terms of the LOI, Joshua Gold will acquire the exclusive Canadian rights to KBT-1 from Clean Oil in exchange for 11,000,000 common shares of Joshua. Joshua will also work with Clean Oil to raise the capital to set up a beta-test site for KBT-1 in Canada. Following the successful completion of the anticipated beta-test, the parties agree it is their intention for Joshua to then acquire and merge with Clean Oil. Completion of the proposed agreement shall include, but will not be limited to, due diligence, obtaining any and all required regulatory approvals, and the implementation of a new slate of direc- tors and officers. Until the new slate of officers and directors has been approved, Ben Fuschino is now the acting president of Joshua Gold, replacing Ben Ward who resigned. n Joshua Gold acquiring oil sands extraction technology by Ellsworth Dickson

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