What Are “Critical Minerals” — and Why They Matter

“Critical minerals” are metals and elements that modern technology can’t do without. They are in electric vehicle (EV) batteries, wind turbines, solar panels, phone chips, medical devices, and even defense systems. Examples include lithium, nickel, cobalt, graphite, rare earth elements, and copper — stuff you rarely think about, but which make high-tech gadgets possible.

Canada recently updated its official list to include 34 critical minerals that it’s especially well-positioned to produce responsibly.

Canada’s Mining Landscape: A Sleeping Giant

Canada already produces more than 60 different minerals. It’s one of the world’s leaders in potash and uranium and ranks high in nickel, aluminum, and other key metals. But that’s only part of the story.

Across provinces and territories — from Quebec and Ontario to the Northwest Territories — there are rich mineral deposits that have barely been explored or developed yet. Some regions, like the Ring of Fire in northern Ontario, contain large deposits of minerals like chromite, which are important for steel and aerospace materials but are still mostly undeveloped.

On top of that, mine tailings — the leftover waste from old mines — might themselves contain recoverable critical minerals worth billions of dollars, offering a new resource without digging fresh holes.

How This Links to Your Daily Life in the Future

You might ask: Why should I care about mining if I don’t live near a drill site?

Here’s how it connects to your future:

• Electric cars and batteries: Minerals like lithium, nickel, and cobalt are needed for EV batteries. As the world shifts away from gasoline, demand for these will skyrocket.

• Cleaner energy: Wind turbines and solar panels use rare earth elements and other metals that are currently in short supply globally. Canada’s resources can help build a more sustainable grid.

• Tech devices: Your phone, laptop, and even future AI hardware need metals like graphite and gallium. Securing a steady supply means cheaper, more reliable technology.

• Jobs and economy: The mining and minerals industry supports hundreds of thousands of jobs and billions in economic activity. In fact, Canada’s critical minerals sector alone contributed about $40 billion to the economy and supported 110,000 jobs recently.

What’s New and Cool About This Right Now

Global Demand Is Exploding

Worldwide demand for critical minerals is expected to double by 2040 — driven by EVs, renewable energy, and digital infrastructure. Canada’s huge reserves mean it could supply a significant portion of what the world needs.

More Money and Better Tech

The Canadian government has launched a Critical Minerals Strategy with billions in funding to accelerate exploration, mining, processing, and even recycling. This means new technology, better jobs, and faster development.

Cleaner Mining Methods

Canada is also pushing more environmentally responsible mining, with lower emissions and stronger social and governance standards than many other countries. That’s good news if you care about both jobs and the planet.

Recycling and Innovation

Old mine waste (called tailings) might become a new source of valuable materials — a rare example where solving an environmental problem also creates economic value.

What This Means for the Future

In the next decade, Canada’s mining sector could help power:

• Your future electric car
• Affordable, reliable renewable energy
• High-speed tech gadgets
• Jobs, research opportunities, and university programs

Mining isn’t just digging holes — it’s about securing the building blocks of tomorrow’s technology.

In Summary

Canada sits on a treasure trove of minerals that the world will need to build cars, clean energy, phones, computers, medical devices, and more. Much of this potential is still untapped, and recent government strategies are unlocking new investment and technology options. For someone entering the workforce, tech fields, energy careers, or even public policy — this is one of the fast-growing industries with real impact on everyday life.

Sources

• 🇨🇦 Government of Canada — Critical Minerals Strategy Progress Update
• 🇨🇦 Government of Canada — Advancing the Canadian Critical Minerals Strategy
• 🇨🇦 Government of Canada — The Canadian Critical Minerals Strategy (Overview)
• 🇨🇦 Canadian Critical Minerals Strategy – Annual Report 2024
• Reuters — Canada to accelerate critical mineral projects worth $4.6 billion
• Reuters — Rio Tinto funding for a gallium critical mineral R&D project

#CriticalMinerals #MiningInnovation #FutureTechnology #CleanEnergy #ElectricVehicles #SustainableMining #CanadaMining #ResourceEconomy #GreenTechnology #EmergingTech

For years, the conversation around energy has focused on production—oil, gas, electricity. But what is becoming increasingly clear is that the future of energy does not begin at the point of generation. It begins at the point of extraction. Without critical minerals, there are no batteries. Without batteries, there is no large-scale electrification. And without electrification, the entire transition narrative collapses. This is where the opportunity becomes undeniable.

Canada holds significant reserves of many of these critical minerals, particularly in provinces like Ontario, Quebec, and Newfoundland and Labrador. The geology is there. The stability is there. The access to global markets is there. What has been missing is urgency and coordination. That is starting to change.

Around the world, nations are waking up to a simple reality. Dependence on external supply chains for critical materials is a strategic risk. The current global system is heavily concentrated, with a small number of countries controlling large portions of mining, processing, and refining. That concentration creates vulnerability. It creates exposure. And it creates a scramble among other nations to secure their own supply. Canada is now part of that shift. But this is not just about mining more materials. That is where many will misunderstand the opportunity. Extraction is only the first layer. The real value, the real leverage, and the real long-term wealth are created further along the chain—in processing, refining, and manufacturing.

Right now, much of the world still ships raw materials out and buys finished products back at a premium. That model benefits those who control the middle and final stages. If Canada simply increases extraction without building out processing capacity, it will capture only a fraction of the value available. The next phase must be different.

The opportunity is to build a full-spectrum ecosystem. Mining, refining, battery production, advanced materials, and recycling. Each layer adds value. Each layer creates jobs. Each layer strengthens economic independence. And each layer reduces reliance on external systems that may not always align with national interests. This is where business opportunity expands rapidly.

Exploration companies will move first, identifying and securing deposits. Mining operations will follow, requiring capital, equipment, engineering, and logistics. But beyond that, there is a much larger wave forming. Processing facilities will be needed to convert raw materials into usable forms. Manufacturing plants will be required to produce battery components and related technologies. Transportation networks will need to adapt to move materials efficiently across regions and toward export points.

And then there is technology.

Modern mining is no longer just physical. It is increasingly driven by data, automation, environmental monitoring, and efficiency systems. Companies that can bring innovation into this space will not only support the industry. They will redefine it. From AI-driven exploration to automated extraction systems, the integration of technology into resource development is becoming a competitive advantage.

There is also a growing emphasis on sustainability, but not in the abstract sense that often dominates public conversation. In practical terms, sustainability is about efficiency, reduced waste, responsible extraction, and long-term viability. Companies that can operate with higher environmental standards while maintaining profitability will be the ones that secure long-term contracts and partnerships. This is not about optics. It is about meeting the expectations of global markets that are becoming more selective about where they source materials.

For Newfoundland and Labrador, the opportunity is particularly compelling. The province already has a strong foundation in resource development and industrial operations. It understands scale. It understands logistics. It understands how to operate in challenging environments. These are not minor advantages. They are exactly the capabilities required to participate in the next phase of mineral development.

But the opportunity is not limited to large corporations. Entrepreneurs, service providers, and smaller firms have a role to play across every stage of the ecosystem. Equipment supply, transportation, environmental services, workforce training, data systems, maintenance, and support operations all represent entry points into a growing industry. The companies that position themselves early, build relationships, and develop specialized capabilities will be the ones that benefit most as the sector expands.

There is also a geopolitical layer that cannot be ignored. Critical minerals are becoming a central component of international strategy. Nations are forming alliances, securing supply agreements, and investing in foreign assets to ensure access. Canada, with its political stability and resource base, is seen as a reliable partner. That creates an opportunity to attract international investment, but it also requires careful thinking about how much control is retained domestically. Because this is not just about economics. It is about sovereignty.

Control over critical minerals means control over the materials that power industries, technologies, and defense systems. It means influence in global negotiations. It means resilience in times of disruption. And it means the ability to shape the future rather than react to it. The mistake would be to treat this as a temporary boom. This is not a cycle. It is a shift.

The demand for these materials is not driven by speculation. It is driven by structural change in how the world builds, powers, and moves. That demand is expected to grow for decades, not years. And the regions that position themselves now will carry that advantage forward over time. The question is not whether Canada has the resources. It does. The question is whether it has the vision to fully develop them. Because there is a difference between participating in a market and leading it. Participation generates revenue. Leadership generates influence, stability, and long-term growth.

Canada has the opportunity to lead. Not by simply extracting more, but by building an integrated system that captures value at every stage. Not by reacting to global demand, but by positioning itself as an essential part of the supply chain. Not by thinking in terms of short-term projects, but by building long-term capability.

This is one of the clearest opportunities of our time. It is not loud. It is not obvious to everyone. But it is already underway. And the ones who understand it early will not just benefit from it. They will help shape it.

Now, under the banner of China’s Belt and Road Initiative, the Rossing uranium mine stands as a beacon of international cooperation, economic revitalization, and women’s empowerment in Namibia. As Chinese and African workers toil under the relentless sun, new stories of opportunity and hope unfold amid the desert’s iconic sand dunes.

A New Chapter: Transforming Lives and Futures

Since the CNNC acquisition, the Rossing mine has not only resumed its position as a vital supplier of natural uranium, contributing roughly 5% of global output, but it has also become a catalyst for change in the local community. This transformation extends beyond economic impact; it’s about empowering individuals, particularly women, to thrive in roles that were once beyond their reach.

Angela Kapapilo, the principal resource geologist at Rossing, is a testament to this shift. Since joining the company in 2010, Kapapilo has witnessed firsthand the evolution of Rossing, particularly after CNNC’s investment. Now leading the Z20 uranium deposit exploration project, she is at the forefront of extending the mine’s life by an additional 20 years. “Being the principal resource geologist is a highlight of my career, thanks to the training provided by CNNC,” Kapapilo said. “This role reflects the value CNNC places on African talent.”

Kapapilo’s story is one of many. Under the new leadership, Rossing has implemented inclusive policies and advanced training programs, empowering local employees—especially women—to climb the professional ladder. The company’s support has even enabled Kapapilo to complete a master’s degree in geology, equipping her with cutting-edge skills in geostatistics and machine learning.

“Chinese enterprises treat every employee equally, providing opportunities to lead and achieve personal ambitions,” she said. “This sense of equality and empowerment is what makes working here so fulfilling.”

Empowering Women and Strengthening Communities

Beyond individual achievements, CNNC’s involvement at Rossing has fostered broader societal benefits. The mine has created thousands of direct and indirect jobs, impacting over 10,000 Namibian lives. Importantly, many of these opportunities have gone to women, elevating their economic and social status.

The commitment to female empowerment is evident in the company’s actions. Since 2019, Rossing has partnered with local organizations to launch female youth entrepreneurship programs, helping young women start their own businesses. Additionally, the Rossing Foundation supports education and health initiatives across Namibia, providing essential resources to schools in rural areas where educational infrastructure is severely lacking.

“The Rossing mine is more than just a workplace; it’s a lifeline for many Namibians,” Kapapilo said. “The benefits of continued operations ripple through our society, touching everything from local businesses to national tax revenue.”

Advancing Sustainability and Innovation

The CNNC’s investment isn’t just revitalizing the mine; it’s also advancing Namibia’s mining industry toward a more sustainable and technologically advanced future. The company’s focus on innovation has introduced new equipment and methodologies, pushing production to new heights while prioritizing environmental considerations.

Kapapilo highlights an instance when Rossing’s partnership with a Chinese institution resulted in a tailored technological solution that wasn’t available on the global market. “This experience underscored the unique value that Chinese companies bring—combining cutting-edge technology with local needs,” she noted.

These innovations extend beyond the mine. During a recent visit to China, Kapapilo was struck by the country’s progress in electric vehicle adoption—a glimpse of a cleaner, carbon-neutral future that she hopes can inspire similar developments in Namibia.

A Partnership for Prosperity

Namibian Minister of Mines and Energy Tom Alweendo praised the impact of Chinese investment, stating that the mining sector contributes significantly to the country’s GDP. “Chinese investment has been instrumental in establishing Namibia as one of the world’s leading uranium producers,” he remarked. Indeed, Namibia’s mining sector contributed 14.4% to the national GDP in 2023, underscoring the economic importance of partnerships like Rossing.

The CNNC’s acquisition of Rossing has not only secured the mine’s future but also set a powerful example of international cooperation and local empowerment. As Chinese and Namibian employees work side by side, they are not just mining uranium—they are building a brighter future for Namibia, where economic opportunity and social progress go hand in hand.

Source:
Global Times

A Visionary Commitment to Saudi Arabia’s Mining Industry

Saudi Arabia’s commitment to transforming its mining sector is a cornerstone of the ambitious Vision 2030. With vast, largely untapped geological resources estimated to exceed a staggering USD 2.5 trillion, the kingdom is poised to become a global mining hub. The discovery of over 48 minerals, including base metals, precious metals, industrial metals, and rare earth elements, underscores the immense potential that lies beneath the desert sands.

The establishment of this cutting-edge laboratory is a direct response to Saudi Arabia’s growing mining ambitions. It aims to ensure that local exploration and mining operators have access to world-class testing services, thereby unlocking the full potential of their mineral deposits. This joint venture will leverage SGS’s extensive analytical expertise and Golden Compass’s proficiency in mining operations and consultancy.

“We are excited to build on SGS’s established presence in Saudi Arabia by adding geochemistry services, especially at a time when there is significant growth in the mining and minerals industry. Together with our joint venture partner, we look forward to helping exploration and mining companies identify, quantify, and realize the full potential of their mineral deposits,” stated Lawrence Ng, Global Vice President of Geochemistry at SGS.

State-of-the-Art Geochemistry Laboratory in Jeddah

The upcoming laboratory in Jeddah, operated by SGS experts, will set a new standard for geochemical analysis in the region. The facility will offer a comprehensive suite of services, including:

• Sample Preparation: Drying, crushing, pulverizing, and sieving.
• Fire Assays: With Atomic Absorption Spectroscopy (AAS) and gravimetric finish.
• Multi-Element Testing: Utilizing Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES) and Inductively Coupled Plasma Mass Spectrometry (ICP-MS).
• Carbon and Sulfur Analysis.

Equipped with the latest technology and adhering to SGS’s stringent quality assurance and control standards, the Jeddah laboratory will provide reliable and precise analyses that meet global benchmarks.

Meshary AlAli AlDehashi, CEO of Golden Compass, emphasized the significance of this venture: “This investment will contribute to achieving SGS – Golden Compass investment goals to support and enhance local content by localizing some mining services. This will help realize the goals of Saudi Vision 2030, which focuses on transforming the kingdom into a major mining hub.”

Comprehensive Geochemistry Services

SGS’s geochemistry team is prepared to deliver customized solutions that cater to the specific needs of its clients. Upholding SGS’s trusted methodologies and high-quality control standards, the team offers a full spectrum of services. With over 500 commercial, mobile, and onsite laboratories worldwide and a dedicated team of geological and metallurgical experts, SGS ensures that clients maximize the value of their deposits at every stage of the mining lifecycle.

SGS’s Legacy in Saudi Arabia

SGS’s relationship with Saudi Arabia dates back to 1980 when it opened its first office in the country. Today, SGS boasts a robust presence with seven strategically located offices in Jubail, Riyadh, Jeddah, Dammam, Ras Tanura, Yanbu, and Rabigh. These offices are staffed by dedicated teams delivering exceptional services across multiple industries, from oil and gas to agriculture and now, significantly, mining.

This latest venture with Golden Compass is a testament to SGS’s unwavering commitment to supporting Saudi Arabia’s industrial growth and diversification. By providing world-class geochemical services, SGS is poised to play a pivotal role in the kingdom’s journey towards becoming a leading mining powerhouse.

As Saudi Arabia continues to unlock its vast mineral wealth, the new geochemistry laboratory in Jeddah will serve as a beacon of scientific excellence and industry innovation. It represents a significant step forward in the realization of Vision 2030, promising a future where Saudi Arabia stands at the forefront of the global mining industry.

Source: www.sgs.com

Lithium: The Heart of Electric Vehicle Batteries

Lithium is often dubbed the “white gold” of the renewable energy sector. Its lightweight and highly reactive properties make it ideal for use in rechargeable batteries. Lithium-ion batteries, found in electric cars and portable electronic devices, offer high energy density, long life cycles, and low self-discharge rates.

Electric Cars: Lithium-ion batteries are crucial for electric vehicles (EVs). These batteries provide the energy needed to power the motor, offering a more environmentally friendly alternative to traditional internal combustion engines. Companies like Tesla and Nissan rely heavily on lithium to manufacture batteries that deliver extended range and improved performance.

Solar Panels and Batteries: Beyond vehicles, lithium-ion batteries are also integral to solar energy systems. They store excess energy generated by solar panels during the day, which can then be used at night or during periods of low sunlight, ensuring a constant power supply and enhancing grid stability.

Nickel: Enhancing Battery Efficiency

Nickel is another key component in the battery industry, particularly in the production of nickel-cobalt-aluminum (NCA) and nickel-manganese-cobalt (NMC) batteries. Nickel’s role is to increase the energy density and storage capacity of batteries, making them more efficient.

Electric Cars: Nickel-rich batteries are favored for EVs because they enable longer driving ranges and faster charging times. This is pivotal in reducing range anxiety—a common concern among potential EV buyers. By improving battery efficiency, nickel helps make electric cars more viable and attractive to consumers.

Cobalt: Stabilizing Battery Chemistry

Cobalt, while less abundant, is critical for stabilizing the chemical structure of batteries and extending their life span. Its presence in lithium-ion batteries helps prevent overheating and allows for safer and more reliable performance.

Electric Cars: The stability provided by cobalt ensures that electric vehicle batteries can endure numerous charge and discharge cycles without significant degradation. This is essential for maintaining the long-term health and performance of EVs.

Solar Panels and Batteries: In solar energy storage, cobalt-based batteries offer similar benefits, ensuring that storage systems remain safe and efficient over many years of use.

Copper: Conducting a Renewable Future

Copper’s excellent conductivity and thermal properties make it indispensable in the renewable energy sector. It’s used extensively in electrical wiring, motors, and various components of renewable energy systems.

Electric Cars: Copper is integral to the production of electric motors, inverters, and charging infrastructure for EVs. An electric vehicle contains about three times as much copper as a conventional car, underscoring its importance in the transition to electric mobility.

Solar Panels and Batteries: In solar panels, copper is used in photovoltaic cells and wiring. It helps in efficiently transferring the electricity generated by solar cells to the grid or storage systems, thereby maximizing energy capture and usage.

Rare Earth Metals: Powering Advanced Technologies

Rare earth metals, despite their name, are relatively abundant but challenging to extract. They are critical for manufacturing high-efficiency magnets, which are essential in many advanced renewable technologies.

Electric Cars: Rare earth magnets, such as neodymium magnets, are used in the electric motors of EVs. These magnets significantly enhance motor efficiency, reducing energy loss and improving overall vehicle performance.

Solar Panels and Batteries: Rare earth elements are also used in the production of certain types of solar panels and in wind turbine generators. They help in improving the efficiency and durability of these renewable energy systems, making them more cost-effective over time.

The role of lithium, nickel, cobalt, copper, and rare earth metals in the renewable energy industry cannot be overstated. These minerals are the backbone of the technologies driving the green energy revolution, enabling the production and optimization of electric cars, solar panels, and batteries. As demand for renewable energy continues to rise, the importance of these critical minerals will only grow, underscoring the need for sustainable mining practices and innovative recycling solutions to ensure their availability for future generations.

Uranium, a naturally occurring radioactive element, takes center stage in the quest for sustainable energy. Symbolized as U with an atomic number of 92, this heavy metal is renowned for its ability to undergo nuclear fission, making it a linchpin in the creation of nuclear energy.

The Many Faces of Uranium: Unearthing Its Diverse Applications

What is Uranium Used For?

Beyond its role as a cornerstone in nuclear power generation, uranium boasts versatility across various sectors. From its applications in medicine to its role as a catalyst in industrial processes, uranium’s significance is multifaceted. However, its primary and most impactful use remains in the realm of nuclear energy.

Stallion Uranium Corp.’s Quantum Leap: Illuminating the Path to Sustainable Energy

In the bustling town of Oprah, Stallion Uranium Corp. proudly declares a groundbreaking move, acquiring three new uranium exploration claims in northern Saskatchewan. This strategic endeavor not only solidifies Stallion’s position as a key player in sustainable energy but also expands its land portfolio to a remarkable 313,381 hectares.

Strategic Expansion: Unveiling Stallion’s Vision in the Athabasca Basin

Under the leadership of CEO Drew Zimmerman, Stallion’s strategic move adds over 32,000 acres to its already substantial exploration project in the highly competitive Athabasca Basin. Zimmerman underscores the significance of this addition, aligning with Stallion’s strategy to secure vast, high-potential land packages and enhance the probability of discovering the next significant uranium deposit.

Magnetic Signatures and Exploration Strategy: Darren Slugoski’s Insights

Darren Slugoski, Vice President Exploration, Canada, sheds light on the strategic nature of the newly acquired claims. These claims, strategically staked, host magnetic signatures suggesting potential extensions of structural anomalies. Positioned east of the Arrow uranium deposit, Stallion aims to capitalize on its exploration strategy, covering under-explored zones with state-of-the-art geophysical surveys.

Fueling the Future: Stallion’s Uranium Expansion

Stallion Uranium’s expansion encompasses staking 13,175 hectares contiguous to existing projects in the Western Athabasca Basin. The claims not only bolster the company’s land position but also cover highly prospective areas. Leveraging geophysical surveys, Stallion aims to advance target areas with magnetic lows and conductive geophysical signatures associated with uranium mineralization.

Shaping Tomorrow: Uranium’s Role in the Renewable Energy Sector

How will Uranium Impact the Renewable Energy Sector?

In an era emphasizing sustainable energy, uranium emerges as a pivotal element. Stallion Uranium’s commitment to exploring over 3,000 sq/km in the Athabasca Basin aligns with the global push for low-carbon solutions. Uranium’s significance in clean and efficient nuclear energy positions Stallion as a key contributor to the broader mission of achieving a sustainable and low-carbon energy future.

Charting the Course: Stallion Uranium Corp.’s Dual Focus

Not limited to uranium, Stallion diversifies its portfolio with gold projects in Idaho and Nevada. Positioned adjacent to world-class gold deposits, these projects provide Stallion with optionality and exposure to potential upside from district advancement with limited capital expenditures.

Stallion Uranium Corp.’s Role in Shaping the Energy Landscape

In the vibrant town of Oprah, Stallion Uranium Corp. emerges as a beacon of sustainable energy exploration. With a strategic vision, a vast land portfolio, and a commitment to advancing uranium exploration, Stallion not only shapes its future but also contributes significantly to the global mission of achieving a sustainable and low-carbon energy future.

Deep sea mining involves the extraction of minerals such as copper, cobalt, zinc, and gold from the ocean floor. The vast expanses of the world’s oceans, largely unexplored by humans, contain valuable resources essential for technologies supporting the green economy, ranging from wind turbines to electric vehicle batteries. As countries look to secure these resources, the emergence of deep sea mining has become a global phenomenon.

The Global Landscape: Areas Embracing Deep Sea Mining

Norway’s decision aligns with a broader global movement towards deep sea mining. As countries strive to meet the demands of a growing green economy, areas such as the Clarion-Clipperton Zone in the Pacific Ocean, the Mid-Atlantic Ridge, and now the Arctic seabed between Norway and Greenland have become focal points for exploration. The potential for vast mineral reserves beneath the ocean floor has spurred nations to position themselves at the forefront of this emerging industry.

Driving the Green Transition: Proponents’ Perspective

Advocates for deep sea mining argue that extracting resources from the ocean floor can accelerate the transition to a low-carbon economy. They contend that this method could come with a lower environmental cost compared to terrestrial mining, making it an attractive option for countries committed to sustainable development. Norway’s focus on sustainability and responsibility in its exploration underscores the industry’s potential as a driving force for positive environmental change.

The Urgency for a Green Economy: Scientific Insights

While proponents highlight the benefits, scientists express caution, emphasizing the limited understanding of the world’s oceans. The deep ocean in the targeted region is home to diverse marine species, many undiscovered by humans. Despite concerns about potential impacts on ecosystems already affected by pollution and climate change, the Norwegian government maintains that extraction will only proceed if done sustainably and responsibly.

International Perspectives: Caution and Calls for Pause

As Norway forges ahead, other countries, including the United Kingdom, urge caution, with some supporting a moratorium on deep sea mining. Open letters from European politicians and over 800 scientists worldwide emphasize the risks to marine life and the potential acceleration of climate change. The debate intensifies as the International Seabed Authority, responsible for regulating seabed extraction, aims to finalize rules on mining in international waters next year.

Setting High Environmental Standards: Norwegian Assurance

Norwegian politicians, including Baard Ludvig Thorheim, highlight the country’s commitment to setting high environmental standards for deep sea mining. While acknowledging concerns, they believe it could become the international standard for this activity. The assurance resonates with the wider environmental community, ensuring that deep sea mining is conducted responsibly.

A Step-by-Step Approach: Future Challenges and Considerations

Despite the landmark decision, the timeline for the emergence of a deep sea mining industry in Norway remains uncertain. Exploration may commence in a matter of months, but parliament approval for mining licenses and subsequent extraction will require additional votes. Questions linger about the commercial viability of mining in the Arctic, with challenges posed by the difficulty of extracting minerals and the potential delay in contributing to the green economic transition.

Norway’s groundbreaking decision to embrace deep sea mining is a bold step towards securing the resources essential for a sustainable and green future. While environmental concerns persist, the commitment to high standards and responsible practices reflects the nation’s dedication to leading the way in this frontier. As the debate unfolds on the global stage, Norway’s pioneering move may well shape the future of deep sea mining, paving the way for a new era of resource exploration and environmental responsibility.

Arbor Metals Corp. announces the creation of a dedicated department focused on fostering strategic alliances with the rapidly expanding electric vehicle (EV) industry in Canada. This initiative comes in response to the growing significance of the EV sector, highlighted by recent high-profile investments such as the joint commitment by the federal government of Canada and the Quebec government to fund Ford Motor Company’s new EV plant in Bécancour, Quebec. As reported by CBC News on August 17th, 2023*, the government investment underscores Canada’s commitment to advancing the electric mobility revolution.

The collaboration between the federal and provincial governments, with a combined investment of $644 million, exemplifies the commitment to fortify Canada’s role in the EV industry. The new Ford plant in Bécancour, Quebec, is set to produce critical battery materials for electric vehicles, reaffirming Canada’s emergence as a global leader in sustainable transportation.

“We’re witnessing a transformative moment in the Canadian automotive landscape, with a strong focus on EV production and the development of a robust supply chain,” said Mark Ferguson, President and CEO of Arbor. “Establishing our Strategic Alliance Department underscores Arbors’ dedication to being at the forefront of this burgeoning industry.”

Arbor recognizes the pivotal role that strategic alliances play in advancing the EV industry’s growth and sustainability. The Company’s newly formed department will work to forge partnerships, collaborations, and joint ventures with key stakeholders across the EV value chain, including automakers, battery manufacturers, and technology innovators.

“We are excited to embark on this journey of collaboration and innovation, leveraging our expertise in mineral resources to contribute to the broader EV ecosystem,” added Ferguson. “As we align our efforts with the evolving needs of the EV industry, we remain committed to sustainable practices and responsible development.”

Arbor will actively seek opportunities to contribute its knowledge, resources, and capabilities to enhance Canada’s position as a global hub for electric mobility. The Company’s dedication to sustainable exploration and responsible resource development aligns with the shared goals of environmental stewardship and technological advancement within the EV industry.

About Arbor Metals Corp.

Arbor Metals Corp. is a mining exploration company focused on developing high-value, geographically significant mineral projects worldwide. Arbor is paving the way for advanced mineral exploration as it oversees world-class mining projects. The Company is confident that combining quality projects with proven strategies and a dedicated team will yield exceptional outcomes.

The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization representing one of the highest-profile lithium exploration projects in the sector.

For further information, contact Mark Ferguson, Chief Executive Officer, at info@arbormetals.com, or 403.852.4869, or visit the Company’s website at www.arbormetalscorp.com.

Arbor Metals Corp. commends the Canadian government’s resolve to cement Canada’s status as a global frontrunner in the electric vehicle (EV) supply chain. Arbor acknowledges the recent strides made by the government to back the evolution of the EV industry in Canada, as covered by Reuters on July 5th, aligning the country on the path of enduring growth and accomplishment.

The article highlights the decision by Stellantis-LG Energy Solution (LGES) to resume construction of an electric-vehicle battery plant in Windsor, Ontario, following increased subsidies provided by the federal government and the province of Ontario. This significant development is expected to generate approximately 2,500 new job opportunities and form an annual production volume surpassing 45-gigawatt hours by 2024.

Arbor extends its appreciation to the Canadian government for accommodating the needs of Stellantis-LG Energy Solution by providing significant aid that competes favorably with what’s obtainable under the Inflation Reduction Act (IRA) in the United States. Canada exemplifies its dedication to nurturing a prosperous EV industry and creating a conducive landscape for corporations investing in green technology.

Industry Minister Francois-Philippe Champagne and Finance Minister Chrystia Freeland expressed their confidence in the agreement, stating, “This agreement is good for workers, and it is good for Canada. It will create and secure thousands of jobs – both in the auto sector and in related industries across Canada – and will further solidify Canada’s place as a leader in the global electric vehicle supply chain.”

The Canadian government’s commitment to becoming a world leader in the EV sector dovetails perfectly with Arbor’s strategic targets. The Corporation is confident that its Jarnet Lithium project in Quebec holds the potential to be a key lithium supplier to Canada’s surging EV industry. Given the construction of multiple large-scale battery plants in the country, it is apparent that lithium demand will see significant growth. Accordingly, Arbor’s board is intensively examining additional promising lithium projects to complement the potential of the Jarnet project and buttress the Canadian EV industry.

“We are excited about the prospects of our Jarnet Lithium project in Quebec and its ability to support the growing demand for lithium in Canada’s flourishing EV industry,” commented Mark Ferguson, CEO of Arbor. “The Canadian government’s commitment to developing the EV supply chain aligns perfectly with our strategic objectives.”

Arbor is dedicated to responsible resource development and is well-positioned to play a crucial role in supplying the necessary lithium to support the electrification of transportation and the transition to a sustainable future. The company’s focus on sustainable growth, innovation, and strategic partnerships will continue to drive its efforts in meeting the increasing demand for lithium in Canada’s EV industry.

Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.

Source & Images:
arbormetalscorp.com

The government proposes to open parts of the Norwegian continental shelf for commercial seabed mineral activities. In addition, the government presents a strategy demonstrating how Norway aims to be a global leader in the fact- and knowledge-based management of seabed mineral resources. Environmental considerations will be safeguarded throughout the value chain, and extraction will only be permitted if the industry can demonstrate sustainability and responsible practices.

“We need minerals to succeed in the green transition. Currently, the resources are controlled by a few countries, which makes us vulnerable. Seabed minerals can become a source of access to essential metals, and no other country is better positioned to take the lead in managing such resources sustainably and responsibly. Success will be crucial for the world’s long-term energy transition”, says Minister of Petroleum and Energy, Terje Aasland.

Norway has significant anticipated mineral resources on the seabed. If proven to be profitable and extraction can be done sustainably, seabed mineral activities can contribute to value creation and employment in Norway while ensuring the supply of crucial metals for the global energy transition. The extraction of minerals could become a new and important industry for Norway.

“To acquire more knowledge, we need to gather expertise and open for commercial mapping, exploration and extraction of seabed minerals. Therefore, we are proposing to open an area on the Norwegian continental shelf for mineral activities”, says Aasland.

Seabed mineral extraction holds significant future potential for value creation, and the government aims to facilitate value creation and future job opportunities in the ocean industries. Norway has extensive experience in business operations and sustainable management of ocean areas, along with strong research and technology communities associated with the ocean and its resources. This provides a solid foundation for developing profitable seabed mineral activities.

Existing knowledge indicates that mapping, exploration, and closure have a minimal environmental impact. Any extraction will only be approved if the rights holder’s recovery plan demonstrates that the extraction can occur in a sustainable and responsible manner.

“Seabed mineral activities are a new industry, both globally and in Norway. Currently, we have limited knowledge about the deep-sea areas where the resources are located. I firmly believe that if the industry identifies resources that they consider economically viable to extract, it will be possible to extract these resources sustainably and responsibly. We will proceed step by step, continue building experience, and base our regulatory framework on facts and knowledge. Environmental considerations will weigh heavily throughout the value chain”, says Aasland.

Arbor Metals Corp. is pleased to announce it has received the high-resolution satellite imagery interpretation report for its Jarnet Property, which comprises four separate blocks located in the James Bay region of Quebec. The Jarnet lithium project includes 70 designated map claims, spanning over an estimated 3,759 hectares.

The detailed analysis was conducted by DIRT Exploration, based in Cape Town, South Africa. The study incorporated Long-Wave Infrared (LWIR), Visible Near Infrared (VNIR), Infrared (SWIR), and Synthetic Aperture Radar (SAR) imagery. The report’s findings will be utilized alongside historical assessments and regional data from the Jarnet claim blocks to streamline Arbor Metals’ upcoming summer exploration initiatives.

The Jarnet South block is situated less than two kilometers northwest of the CV-5 pegmatite target owned by Patriot Battery Metals Inc. (“PMET”), where a comprehensive diamond drill program has led to numerous significant discoveries. In their recent press release (PMET, March 29, 2023), PMET unveiled a high-grade extension (Nova Zone) of the CV 5 target, with an average of 3.13% Li2O (lithium oxide) over 87.7 meters, including a 19.8-meter stretch averaging 5.28% Li2O.

ABOUT THE COMPANY

Arbor Metals Corp. is a mining exploration firm dedicated to the evolution of high-value, geographically significant mineral projects worldwide. It stands at the forefront of advanced mineral exploration, managing global mining projects of exceptional caliber. Arbor’s philosophy is centered around blending quality projects with sound strategies and a professional team to yield superior outcomes. The company currently oversees three standout mineral projects.

Located in the James Bay region of Quebec, the Jarnet lithium project comprises 47 map-designated claims, spanning an area of around 3,759 hectares. The project adjoins the Corvette-FCI property, where diamond drilling has confirmed substantial lithium mineralization, making it one of the most high-profile lithium exploration endeavors in the industry.

www.arbormetalscorp.com

Kiplin Metals Inc. is delighted to announce the upcoming launch of its summer geophysical program at the Cluff Lake Road (CLR) uranium project situated in northwestern Saskatchewan, scheduled for June 2023. The Company’s geological team is set to receive the necessary permit by the end of May and aims to mobilize on-site by June.

The CLR property lies in a region with strong prospects for uranium deposits. Kiplin’s summer program will include at least 8 line kilometers of Induced Polarization (IP) resistivity geophysical surveying, running approximately in an east-west orientation. The program’s objective is to generate fresh targets for subsequent drilling and to better delineate the uranium mineralization at the CLR project.

“We are excited to start our exploration program on the CLR uranium project,” said Peter Born, Director of Kiplin. “The region has shown great potential for uranium deposits, and we believe that our summer program will identify new targets for follow-up drilling, adding value for our shareholders.”

The Company’s CLR property is surrounded by F3 Uranium Corp.’s prominent Paterson Lake North (PLN) project, which recently revealed the discovery of the JR high-grade uranium zone in November 2022. F3 announced intersections in drill hole PLN22-038, comprising 11.0 meters averaging 4.20 percent triuranium octoxide, including a 4.5-meter interval averaging 9.8 percent U3O8. This indicates the presence of the latest basement-hosted uranium deposit in Athabasca, akin to Fission Uranium Corp.’s Triple R uranium deposit.

Kiplin will conduct its exploration activities adhering to the highest environmental management standards and maintain close cooperation with local stakeholders, including indigenous communities. The Company will initiate dialogue and consultations with indigenous partners and stakeholders, continuing throughout the permitting, exploration, and closure stages.

The Company will provide updates on the scheduling of its permitting and work program as and when they are available. The Company advises that discoveries and observations on nearby properties do not necessarily imply the existence of similar mineralization or geological features on the Company’s properties.

The Company will release updates regarding its permitting and work program schedules as information becomes available. Kiplin emphasizes that findings and observations on neighboring properties do not necessarily indicate the presence of comparable mineralization or geological characteristics on the Company’s properties.

Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101 and is responsible for and has approved the technical information contained in this release.

About Kiplin Metals Inc.

Kiplin Metals Inc. is a mineral exploration company that aims to generate value for its shareholders by identifying and pursuing highly prospective mineral exploration opportunities. Their strategy involves advancing projects from discovery to production through a vertically integrated approach, ensuring exceptional shareholder value is delivered across the entire mining process life cycle.

Cluff Lake Road Uranium Project. Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531 ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries have been made, including the Arrow and Triple R Uranium deposits. The CLR Project is 5 km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000 lbs of yellowcake uranium.

Geomega Resources Inc., a developer of clean technologies for the mining, refining, and recycling of rare earth and other critical materials, is pleased to announce that following a thorough review of its current and future projects and operations and an exhaustive research of the industrial real estate market in the Greater Montreal area, the Corporation has decided to combine all its operations into a single larger location in the town of St Hubert, Quebec. In addition, Geomega’s private R&D subsidiary Innord Inc. has been awarded a $493K grant from the Program to Support Research and Development for the Extraction, Transformation and Recycling of Critical and Strategic Metals, administered by Consortium de Recherche et d’innovation en transformation métallique, towards the development of a process for the recycling of hydrochloric acid from several metal chlorides which can be used for rare earth elements and scandium recovery from multiple sources.
Furthermore, we are pleased to provide a technical update on the magnet recycling demonstration plant.

St Hubert centralized location for demonstration plant and R&D

The addition of new R&D projects over the last 24 months, including this HCl recycling process and more projects in the pipeline to expand our technologies to other major applications, has resulted in an increased space requirement for Geomega. On the other hand, the current facilities in Boucherville no longer made it possible to meet these growing needs neither for laboratory space nor for offices necessary to support hiring. With the construction of the magnet recycling demonstration plant starting later this year, the Corporation used the opportunity to relocate all the activities under one roof instead of expanding into a 3^rd facility, incurring extra costs and more delays later on. The St-Hubert facility will meet the current needs while permitting growth and creating synergies between the different departments and projects.

The standalone facility of over 18,000 sq. ft in the Gérard-Leclerc industrial zone of St Hubert, Longueuil, is located less than 8km from our previous location and has all the same location advantages such as less than 30 minutes from Montreal and within 6 hours from major North American cities such as Boston, New York and Toronto with access to several major highways and expressways. Two airports are located within 40 minutes of the location, the Trudeau International Airport in Montreal and the Montreal-Saint-Hubert-Longueuil airport. Most important is the access to major seaways with the Port of Montreal, 20 minutes, which is the largest container transhipment center in the Great Lakes system – Saint Lawrence Seaway and a direct link to Europe and the East coast of the United States, as well as the marine terminal in Contrecoeur which is only 30 minutes away. The availability of outdoor space at the St Hubert facility is another important benefit over the previous location as it allows more flexibility with the utilities that are required to be installed for the operation of the magnet recycling plant.

Administration, engineering, and R&D activities will continue at the Boucherville facility until all the laboratories and offices are built as part of the construction of the demonstration plant.

“With no space for expansion and a potential risk of operating 3 facilities requiring their own analytical laboratories, prep labs and other services and utilities, the timing was right to consolidate all our activities before the construction of the demonstration plant starts. Having all our activities centralized with space to expand our R&D and perform multiple projects at the same time is going to benefit Geomega in the long run. This new R&D facility will be able to accommodate our growing pipeline of projects that are already in the application for funding phase. We are thrilled with this new location as it will allow us to streamline Geomega’s operations in the future and simplify the construction of the demonstration plant.” commented Kiril Mugerman, President & CEO of Geomega.

HCl recycling project funding from CRITM

The HCl recycling research project is expected to be completed over 24 months and will have important synergies with other projects of the Corporation. HCl is a strong leaching reagent that can be used to extract REE, Sc and other metals from various sources such as permanent magnets, monazite, bastnaesite and bauxite residues. Although it has many advantages, its cost compared to sulfuric acid can be prohibitive due to its high consumption by gangue minerals and other major elements (Fe, Al). This often results in important volumes of spent water and solid residues and solutions with only limited efficiency are available today to recycle HCl. The solution being developed by Innord is an alternative method that allows to regenerate HCl from an aqueous solution of metal chlorides without the need for high-temperature treatments. The project will include testing the bench scale HCl recycling process on REE and Sc rich leaching solutions and provide a techno-economical evaluation of the process.

“The team is very excited to start working on this innovative solution. Geomega has worked with HCl as far back as 2013 while developing the Montviel flowsheet but the limitations of HCl recycling have always been a major challenge. The development of this process can open the door to new extraction methods of REE and Sc from various sources across Quebec by lowering the cost of leaching and limiting the chloride effluent or residues in processes that use HCl today. These results could ultimately be applied to other critical and strategic metals such as Co, Ni, Nb, Li and others. Further, this process could help replace sulfuric acid in some processes which will make it more environmentally sustainable and more cost competitive. In other words, the commercial applications to this solution are very wide and favorable for Geomega.” added Kiril Mugerman.

Magnet Recycling Demonstration Plant Update

The search for a new location over the last few months has had an important impact on the engineering of the demonstration plant. The HAZOP study was successfully completed to 90% and modifications are now being made to the process design. Other engineering activities with BBA were postponed in order to avoid incurring the same charges twice. BBA is starting to resume its activities as of May 1st for the peripheral engineering design at the St Hubert facility. The layout is now being adjusted to the new facility and the 3D design will follow accordingly. The in-house engineering team continued discussions with various vendors in preparation for ordering further equipment. Environmental permitting activities have continued as well as they are not impacted by the location change. Municipal permitting started this week as well as some ground preparation work.

Equipment that was ordered in 2022 continued to arrive in St Bruno and will be later moved to St Hubert. The equipment that was expected to be ordered in the last few months has been postponed due to the change of location and is now restarting.

Location search did not impact any of the bench and pilot testwork on either magnet recycling, bauxite residues or any of the other ongoing projects.

About Geomega (www.geomega.ca)

Geomega develops innovative technologies for the extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cash flow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies.

As its technologies are demonstrated on larger scales, Geomega is committed to working with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process.

Geomega’s process is based around its proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably and safely.

Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America and holds over 16.8M shares, representing approximately 14% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for copper projects in Quebec, Canada.

Hydro One Inc. announced it has received a letter from the Independent Electricity System Operator confirming the need for clean, reliable electricity in northwest Ontario to support mining operations. The IESO’s updated electricity forecast for the region recommends Phase 2 of the Waasigan Transmission Line, the new single-circuit 230-kilovolt transmission line between Mackenzie Transformer Station in the Town of Atikokan and Dryden TS in the City of Dryden, be in service as soon as practically possible following Phase 1 to support mining operations and Ontario’s clean energy future.

“Hydro One is expanding the clean electricity system to harness the wealth of minerals in the northwest and support the incredible growth in the province,” said David Lebeter, President and CEO of Hydro One. “We will continue to work with Indigenous communities, municipalities, residents and stakeholders to develop and build this critical transmission line and ensure Ontario remains an attractive place to invest, live and work.”

“As demand for electricity is expected to grow by nearly two percent per year for the next 20 years in Ontario, it is absolutely critical that we work together to get the necessary infrastructure built in time to meet those emerging needs. The Waasigan Transmission Line will lay the groundwork so that communities, businesses and Indigenous peoples in the northwest have a reliable supply of electricity that supports economic growth. Projects such as this are key to an orderly energy transition that will meet the needs and objectives of future residents, businesses and institutions across our province,” said Lesley Gallinger, President and CEO of Independent Electricity System Operator.

“We know the demand for reliable, affordable and clean electricity is growing, and we are working with all of our partners, including the IESO, First Nations and Hydro One on meeting that demand. By designating the Waasigan Transmission Line as a priority, we are enabling economic growth and electrification in the North by ensuring the power needed by communities, businesses and Indigenous peoples in the Northwest is there for them,” said Todd Smith, Minister of Energy, Government of Ontario. 

Phase 1 of the Waasigan Transmission Line project is a proposed new double-circuit 230-kilovolt transmission line between Lakehead TS in the Municipality of Shuniah and Mackenzie TS in the Town of Atikokan. In May 2022, the IESO recommended construction of Phase 1 to proceed with an in-service date as close to the end of 2025 as possible. Phase 2 of the project is a proposed new single-circuit 230-kilovolt transmission line between Mackenzie TS and Dryden TS in the City of Dryden.

Hydro One is currently undertaking an Environmental Assessment (EA) for the project under the Ontario Environmental Assessment Act. The review helps to identify a final route for the transmission line, predict and assess potential effects, and identify measures to minimize and eliminate potential negative impacts on the environment. This year, Hydro One plans to submit a Leave to Construct (Section 92) application to the Ontario Energy Board (OEB) for both phases of the project. 

Nine First Nations in the region have signed agreements with Hydro One and will have the opportunity to invest in a 50 percent equity stake in the transmission line component of the project. Completion of the line is contingent on stakeholder consultation and regulatory approvals.

Hydro One Limited (TSX: H)

Hydro One Limited, through its wholly-owned subsidiaries, is Ontario’s largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $31.5 billion in assets as of December 31, 2022, and annual revenues in 2022 of approximately $7.8 billion.

Their team of approximately 9,300 skilled and dedicated employees proudly builds and maintains a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2022, Hydro One invested approximately $2.1 billion in its transmission and distribution networks and supported the economy by buying approximately $1.9 billion of goods and services.

They are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Leader™ by Electricity Canada.

Hydro One Limited’s common shares are listed on the TSX and certain of Hydro One Inc.’s medium-term notes are listed on the NYSE.

SOURCE: Hydro One Limited

Arbor Metals Corp. welcomes the news that the Sayona Lithium Mine, located near La Corne in the Abitibi region of Quebec, has started operations as a large-scale lithium mine in North America. Sayona Quebec, a joint venture between Australia’s Sayona Mining Ltd. and North Carolina’s Piedmont Lithium Inc., reopened the North American lithium mine in late March. High-profile end-users such as Tesla Inc. and South Korea’s LG Chem Ltd. are anticipated to purchase lithium from the Sayona operations, representing a significant achievement for Quebec and Canada.

Arbor welcomed the positive announcement by Federal and Provincial leaders on April 20th, 2023, where officials welcomed Volkswagen’s plan to build a large-scale new EV battery plant in St. Thomas, Ontario. Following the news of substantial investment by both Volkswagen and the Canadian government, the Company plans to expedite its exploration plans for its Jarnet lithium project.

“North America plays a key role in our global battery strategy. The region will become PowerCo’s second pillar beside Europe, with battery cells made in North America for North America. Gigafactory St. Thomas opens the door to a key market for e-mobility and battery cell production. We aim to make PowerCo a global player in the battery business and to pave the way for clean, sustainable mobility. Gigafactory St. Thomas is an important milestone in our roadmap,” remarked Thomas Schmall, Volkswagen Group Board Member for Technology.

On April 20th, 2023, the lithium industry was also shaken by the announcement that Chile, the world’s second-largest producer of lithium from brine deposits, intends to nationalize its lithium industry to bolster its economy and safeguard its environment. Arbor expects this move by Chile and Mexico to nationalize their lithium industry will hasten a shift in future investments in lithium projects to other countries recognized as “safe havens” with large lithium resource potential, such as Canada (Quebec and Ontario). Quebec ranks second in Canada and sixth globally in the Fraser Institute’s 2021 top jurisdictions for investment based on the Investment Attractiveness Index.

Arbor believes that the exploration and development of lithium projects in northern Quebec are well-suited to benefit from these recent announcements and eagerly anticipates implementing a strong exploration program for its Jarnet lithium project this summer. Encompassing roughly 3,759 hectares, the Company’s Jarnet lithium project is comprised of 70 map-designated claims. The Jarnet South block is located less than two kilometers northwest of Patriot Battery Metals Inc.’s (“PMET”) CV-5 pegmatite target, where an intensive diamond drill program is currently underway and has led to several noteworthy discoveries.

Note: Company management cautions the discoveries and observations on properties in proximity to the Company’s properties are not necessarily indicative of the presence of similar mineralization or geology on the Company’s properties.

Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for and has approved the technical information in this release.

Arbor Metals Corp. is a mining exploration company specializing in developing high-value, geographically significant mineral projects worldwide. As an industry leader, it is paving the way for advanced mineral exploration as it oversees world-class mining projects. Arbor believes quality projects, proven strategies, and a professional team will deliver superior results. The company holds three exceptional mineral projects.

The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization, and represents one of the highest-profile lithium exploration projects in the sector.

First American Uranium Inc. is pleased to provide an overview of the uranium market and the US-specific potential for growth in nuclear power and uranium exploration and mining. Nuclear energy supplies 10% of the world’s power generation and ~20% of America’s electricity. However, to reach global decarbonization targets, the International Energy Agency projects that nuclear power production will have to increase by 80% by 2040. Shawn Balaghi, First American Uranium’s CEO, commented: “Between increasing international investment in nuclear energy and rising uranium spot prices that are helping drive strong and sustainable economics, there are many factors contributing to the positive outlook for uranium. First American Uranium is excited to be working hard to become part of the US domestic supply solution at this time.”

Advantages of Nuclear Energy

• Far lower greenhouse gas emissions than fossil fuels and even lower than solar or wind

• 24/7 energy supply helps stabilize the grid and prevent blackouts
• The highest capacity factor of the different energy production options
• One of the safest sources of energy in the world (0.07 deaths/TWH), on par with solar (0.02) and wind (0.04) while being multiple times lower than coal (24.6), oil (18.4) and natural gas (2.8)
• Supports national energy security by providing electricity that is largely independent of fuel market price fluctuations
• Americans support nuclear energy more than ever (69% say nuclear reduces pollution and keeps America competitive and energy independent)
• The nuclear industry is a “very high performer” from an ESG (environmental, social, and governance) perspective

Turning To Nuclear

Major nations are facing growing electricity demand and aggressive decarbonization targets. In turn, a growing number of countries are looking to nuclear power policies, investments and production as potential solutions to their energy mix.

France recently announced €1 billion to support small nuclear reactors and pledged to construct 14 new generation reactors. South Korea set a target for nuclear to account for 30% of their total power generation. China intends to build 150 nuclear reactors over the next 15 years. Even Japan, despite the 2011 Fukushima nuclear accident, recently restarted its nuclear capacity with public support at over 60%.

In America, the Biden administration established a $6-billion fund to keep nuclear plants running. The administration is also providing $2.5 billion for two R&D projects into new nuclear technology and is pushing a $4.3-billion plan to buy enriched uranium from domestic producers to replace Russian imports.

Meanwhile, America’s recent Inflation Reduction Act (IRA) includes ~$369 billion in climate provisions to help ensure energy security and cut US emissions by 40% before the end of the decade. The IRA includes a production tax credit to help preserve the nation’s existing fleet of nuclear plants, several tax incentives for clean energy technologies (including advanced reactors) and invests $700 million to support the development of a domestic supply chain for high-assay low-enriched uranium.

Industry Fundamentals

Uranium spot prices have been steadily trending up for years with little volatility, recently reaching their highest levels in over a decade.

Factors that could add further pressure to uranium going forward include:

• The international expansion of reliance on nuclear energy
• Utilities returning to long-term contracting (uranium contracting by American utilities rose 54% in 2022)
• Uranium purchases by ETF funds, such as the Sprott Physical Uranium Trust held $2.9 billion dollars as uranium as of Q1 2022

When it comes to supply, the US produces just 5% of the uranium it uses as fuel while importing the majority from Kazakhstan (35%), Canada (15%), Australia (14%), Russia (14%) and Namibia (7%). US uranium imports began trending up around 1980 while production dropped sharply. Over the last decade, low uranium prices driven by the reaction in some countries to the 2011 Fukushima nuclear incident in Japan, resulted in further reductions in domestic US production.

Today, uranium production in the US is from just one mill in White Mesa, Utah. America’s declining uranium production and its dependence on foreign imports have left the nation and its nuclear energy sector vulnerable to geopolitical conflicts, such as Russia’s war against Ukraine.

Fortunately, the market’s dynamics have recently shifted:

• Demand for uranium is rising while secondary supplies have declined
• With uranium supplies remaining tight, further price appreciation is expected
• Global mine supply for 2023 is forecast at 143 million pounds U3O8 versus 181 million pounds of demand, leaving a supply shortfall that must be filled by declining secondary supplies
• To maintain supply, further discoveries are required
• M&A activity has increased, with major deals in 2022 including Cameco and Orano acquiring Idemitsu’s stake in Cigar Lake and Uranium Energy Corp’s acquisition of UEX Corporation

In turn, potential opportunities are opening up for US-targeted uranium explorers and domestic miners to help create clean energy, build national security, and meet growing market demand.

About First American Uranium Inc.

First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Silver Lake and Red Basin properties. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast of the town of Houston, in the Omineca Mining Division, British Columbia. The Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in certain uranium/vanadium mineral claims located in Catron County, New Mexico.

Vital Battery Metals Inc. is pleased to announce that the Company has entered into an agreement to engage Coast Mountain Geological Ltd. for management and ongoing geological services of upcoming exploration activities at the Company’s Sting Copper Project in Newfoundland, Canada.

CMG is a forward-thinking geological consulting firm that offers a full range of services, including highly diversified international expertise in all aspects of the mineral exploration and geotechnical process. For over 30 years, CMG has provided worldwide geological services to clients with a team of geoscience enthusiasts led by a balanced mix of youthful and seasoned industry professionals.

With the Company recently reported assay results of grab samples at its Sting Copper Project including 17% Cu, 11.6% Cu, 14.2% Cu, and 13,9% Cu, with gold values also ranging from 79 ppb to 4105 ppb, as well as 181 ppb to 325 ppb, the Company believes it is now critical to partner with a strong geological consulting firm to help lead the next phases of exploration activities.

Adrian Lamoureux, Chief Executive Officer and President of Vital commented, “Between our pre-existing relationship and their strong track record in leading exploration and drill programs, it is an easy decision for us to partner with CMG for our future work programs at the Sting Copper Project. We were very pleased with our recent assay results of grab samples and look forward to further exploring the area, as we believe there to be significant potential in the area.”

About Vital Battery Metals Inc.

Vital Battery Metals Inc. is a mineral exploration company dedicated to the development of strategic projects comprising battery, base and precious metals in stable jurisdictions. The Company is working to advance its Sting Copper Project and its Vent Copper-Gold project.

The Sting Project covers approximately 127 km² (12,700 ha) and hosts multiple historic Newfoundland and Labrador Government documented mineral occurrences and is located within a 50 km corridor known for significant volcanogenic massive sulfide (VMS), copper quartz vein lode and low sulphation epithermal gold showings. The Vent Copper-Gold project covers 1,562 hectares in British Columbia. Vital continues to evaluate value-add assets to bolster its project portfolio.

For More Information Visit www.vitalbatterymetals.com

Atlas Salt is pleased to announce the results of an independent Preliminary Economic Assessment and updated Mineral Resource estimate prepared by SLR Consulting (Canada) Ltd. on its 100%-owned Great Atlantic Salt Project located on the west coast of Newfoundland. Great Atlantic is the premier undeveloped salt deposit situated in the heart of a large regional U.S./Canadian road salt market facing a significant domestic production shortfall.

Highlights

• Pre-tax internal rate of return (IRR) of 22%; NPV(8) of $909 million; payback in 4.2 years after commencement of operations;
• Base case of 2.5 million tonnes per year (Mtpa) production for a 30-year mine life with a mine and processing design to accommodate expansion up to 4 million tonnes per year and capable of extending the mine life beyond the 30-year standard production model;
• Low-cost production – utilizing a Q4 2022 cost basis of $23.81 per tonne FOB;
• Expansion of Mineral Resource estimate including the first-time declaration of Indicated Mineral resources (187 million tonnes @ 96.4% salt) with Inferred Mineral resources of 999 million tonnes @ 95.6% salt;
• State-of-the-art, environmentally friendly design featuring the first major salt mine in North America accessible through declines, providing all the attendant benefits of scalability and economic efficiencies;
• Recently completed drill hole CC-9 collared 250 meters east of hole CC-4 (refer to Jan. 11, 2023 news release), was not incorporated into the PEA. Results from this hole and other data from the 2022 drill campaign will be included in the upcoming Feasibility Study currently being prepared by SLR;
• Further to its news release of May 19, 2022, Atlas has entered into discussions regarding Great Atlantic with interested parties including potential suitors. With an independent PEA now in hand, management expects these discussions to accelerate with a focus on possible outcomes aimed at maximizing shareholder value.

Mr. Rowland Howe, Atlas President, commented: “In my 30+ years in this industry I have not come across a salt project as unique as Great Atlantic given its combination of size, shallowness, and logistical advantages. This robust PEA confirms our vision for the project.”

Mr. Howe added, “Even assuming a conservative flat production rate at 2.5 million tonnes over only 30 years, the cash flow model provides a base case evaluation that is quite compelling. Significant additional value can be attributed to the project given that mine infrastructure is designed for up to 4 million tonnes of production with ample resources to extend production beyond 30 years. Future additional infrastructure could push annual production even higher. Long life cash flow comes at a premium.”

SLR Technical Summary

Overview

The PEA considers developing Great Atlantic into an underground operating mine capable of producing 2.5 Mtpa of rock salt with key mine access and plant infrastructure designed for 4.0 Mtpa. Construction of the mine would occur over three years, with access to the deposit via twin declines. Extraction of rock salt would occur using the room and pillar method, with continuous mining equipment. Salt would be processed to a specific size and grade using a crushing and screening plant located within the mine, and then brought to the surface via conveyor belts. An overland conveyor would transport the rock salt from the mine area to the existing Turf Point port for loading onto ships destined for Canadian and American markets, as well as serve the local Newfoundland market. The PEA is a step towards a Feasibility Study which is currently underway by SLR.

Mineral Resources

Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions) were used for Mineral Resource classification. The updated Mineral Resource currently includes 187.2 Mt of Indicated material plus 999.4 Mt of Inferred material. Table 1 provides a summary of the Great Atlantic Mineral Resource estimate prepared by SLR, with an effective date of January 6, 2023. The Mineral Resource estimate does not incorporate information from hole CC-9, with salt analysis pending, announced in an Atlas Salt news release dated January 11, 2023.

Notes:

1. CIM (2014) definitions were followed for Mineral Resources.
2. The bulk density is 2.16 t/m³.
3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
4. Reasonable prospects for eventual economic extraction were demonstrated by reporting within mineable shapes at a cut-off grade of 90% NaCl resulting in composite resource grades exceeding 95%.

Mining

Mining designs, development plans, and schedules have been prepared for a fully electric, mechanized room and pillar mining operation. Salt will be mined using continuous miners and hauled by truck to a lump breaker and conveyor system to move material to a crushing and screening plant located underground. The PEA is based upon the initial production of 2.5 Mtpa of rock salt product with mine infrastructure capacity to expand to 4.0 Mtpa.

The mining designs contained in the PEA are based, in part, on Inferred Mineral Resources. Approximately 39% of the mine plan is based on Indicated Mineral Resources, with the remainder being Inferred Mineral Resources. Inferred Mineral Resources are considered too geologically speculative to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the production forecasts on which the PEA is based will be realized.

The mine will be accessed through two declines driven to 250 m below the surface where the plant and related infrastructure will be located. One decline will provide fresh air into the mine and be used for vehicle access, while the other will exhaust air and contain an overhead conveyor to transport finished rock salt product to the surface.  Twin declines will be extended from the 250 Plant Level to the first production level at 300 m below the surface, continuing to the lower levels as required. The primary mine-related infrastructure including maintenance shops, vehicle charging bays, and gear storage will be located on the 300 Level. 

Internal declines will be developed as necessary to sustain the initial production rate of 2.5 Mtpa over an initial 30-year mine life. A total of six production levels supported with six internal declines and level-specific infrastructure will be constructed to support mining activities on each level. Room and pillar production mining will be executed in four cuts of five meters in height, resulting in a maximum room height of 20 m. Rooms will be 16 m wide, separated by 25 m square pillars. The square pillars will be in a regular pattern and overlie one another from level to level. Each mining level will be separated by 20 m thick horizontal sill pillars.

Al major equipment used in the mine will be battery electric or plugged electric, with minimal diesel-powered equipment in the mine.

Processing

Processing of the salt will take place at a crushing and screening plant located within the mine. The rock salt produced will be suitable for use as a deicing product, conforming to specification ASTM-D632, with a minimum NaCl grade of 95%. There are no chemical processes or reagents involved in the production of rock salt, other than an anti-caking agent that is added to the product immediately before shipping. After rock salt has been processed, it will be transported to the surface via conveyor belts. On the surface, a series of conveyor belts will transport the rock salt from the mine site to the port.

Infrastructure

The Great Atlantic operation will include both on and off-site infrastructure.  On-site infrastructure has been configured to minimize the mine site surface footprint.  Components of the on-site infrastructure include:

• Temporary salt storage area
• Decline access area
• Surface buildings such as administration, warehouse, fuel bay, dry facility, maintenance shop
• Salt storage building
• Material handling systems
• Electrical substation and distribution
• Ventilation system for the mine
• Surface water management system
• Gatehouse and fencing

Notably, a tailings management facility is not required for the Project, as all material that is processed will be sold as rock salt.

Off-site infrastructure has been designed to take advantage of some of the existing facilities available in the immediate area, including the port, historical haul road, and an NL Power electrical substation.  Planned off-site infrastructure includes the following:

• Overland conveyor connecting the mine to the port, including:
  • The overall length of approximately two kilometers, with both bridge and tunnel sections accommodating access to existing town infrastructure
  • All sections of the conveyor belt will be covered to minimize noise and dust
• Retrofitting of the existing storage building located at the port to handle rock salt
• Addition of a new building and material handling system at the port to expand the capacity of covered material storage
• Refurbishment of the existing ship loader facility
• Transmission line connection to NL Power’s substation located in the town of St. George’s

Environment and Community Engagement

Environmental baseline studies of the project area have been completed by GEMTEC Consulting Engineers and Scientists Limited (GEMTEC) throughout 2022 in preparation for the registration of the project under the environmental review process. Consultations with the local community and affected groups are ongoing.  Atlas has retained the services of an experienced communications consultant to assist and facilitate informed community input into the project development.

Marketing

As part of the PEA and ongoing Feasibility Study, Atlas and SLR have commissioned independent assessments of marketing and logistics. These independent assessments have formed the basis of the assumptions used in the PEA.  

Rock salt produced from Great Atlantic will initially target the regional deicing markets in eastern Canada and the U.S. East Coast.  It is estimated that this market requires between 11.0 Mtpa and 16.0 Mtpa of rock salt in any given year, sourced from domestic and international suppliers, with the demand highly correlated to weather conditions. The primary customers of rock salt are government entities that use a tender system for the annual supply of deicing salt. Secondary customers include commercial deicing operators. 

Government entities include municipalities, Departments of Transportation (DoT), counties, and other provincial or state entities, while commercial operators may vary from distribution companies for retail purchases or contractors who purchase rock salt for de-icing commercial and private properties.

Cash Flow Model Basis

SLR has prepared a cash flow model that is based on a 30-year mine plan with a production rate of 2.5 Mtpa.  It is noted that the Mineral Resource base will allow for a much longer mine life. The mine schedule includes a three-year ramp-up period, with year one production of 1.5 Mtpa, year two production of 2.0 Mtpa, and year three reaching steady-state production of 2.5 Mtpa. 

The cash flow model comprises estimates of capital costs, operating costs, an assessment of revenue, and an estimate of project economic metrics such as net present value, internal rate of return, and payback period.  Economic metrics were assessed both on a pre and post-tax basis. 

SLR has assumed that construction of the mine would commence in 2025, with salt production commencing in 2028. To bring salt prices to a 2028 base date, SLR has applied a 4.0% annual increase to the price of salt, which is consistent with other publicly available technical reports on existing salt operations in North America.  Beyond 2028, SLR has applied a 2.0% annual increase to the price of salt. In terms of costs, SLR has applied 2.0% annual inflation to capital and operating costs.

Capital Costs

Capital costs for the Project have been estimated based on first principles build-ups, factored estimates, and quotes for major equipment and supplies. The capital cost estimate conforms to an AACE Class 5 estimate, as of the fourth quarter of 2022. Capital costs are divided between pre-production capital (representing years leading up to salt production) and sustaining capital. Costs are divided into areas including mining, processing, infrastructure, off-site infrastructure, indirect costs, owner’s costs, and contingency. The capital cost estimate is presented in Table 2.

Operating Costs

Operating costs for the Project have been estimated based on first principles build-ups, estimations of labor quantities and remuneration, productivity, and consumption assumptions. The operating cost estimate is as of the fourth quarter of 2022. Operating costs are divided into disciplines including mining, processing, general and administration, and port operations. SLR has assumed that the port would be owned and operated by a third party and accessible based on commercial terms. The operating cost estimate is presented in Table 3.

Pricing and Revenue Assumptions

SLR has assumed a weighted average price of rock salt based on a market analysis review completed by a third party, as well as taking into consideration the shipping and logistics costs of getting the salt to destination ports.  SLR’s revenue analysis is based on pricing FOB Turf Point and is based on the fourth quarter of 2022. The Project is subject to a royalty payable to Vulcan Minerals Inc., in the amount of 3% of net production revenue.  A summary of revenue assumptions is presented in Table 4.

Economic Outcomes

The resulting economics of the Project are presented in Table 5.

Next Steps

Upon completion of the PEA, Atlas intends to release a supporting NI 43-101 compliant report posted to SEDAR within 45 days of this news release.  Other ongoing work toward Feasibility Study completion includes the following:

• Geotechnical field program to support key assumptions related to mine access and design
• Updated geological modeling based on the most recent drilling (Drill Hole CC-9), which is not incorporated into the current Mineral Resource estimate
• Continued progress in the areas of environmental baseline monitoring
• Continued stakeholder engagement
• Ongoing work with potential vendors and suppliers
• Targeting completion of the feasibility study in the first half of 2023

Qualified Persons

This news release describes an updated Mineral Resource estimate and a PEA plan and cash flow based upon geological, engineering, technical and cost inputs developed by SLR Consulting (Canada) Ltd. A National Instrument 43-101 Technical Report (NI 43-101) will be filed on SEDAR within 45 days. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by EurGeol Dr. John G. Kelly, P.Geo., FIMMM, MIQ, David M. Robson, P.Eng., MBA, Lance Engelbrecht, P.Eng., Derek J. Riehm, M.A.Sc., P.Eng., and Graham G. Clow, P.Eng. each of whom is a “qualified person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Patrick J. Laracy, P.Geo., CEO of Atlas Salt and a qualified person.

About Atlas Salt

Bringing the Power of SALT to Investors: Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource located immediately next to a deep-water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues the development of the Fischell’s Brook Salt Dome approximately 15 kilometers south of Great Atlantic in the heart of an emerging Clean Energy Hub.

Atlas Salt Inc. – Atlas Salt

Anfield Energy Inc. is pleased to announce that BRS Engineering has begun a Preliminary Economic Assessment for the Company’s Slick Rock uranium and vanadium project. Slick Rock is located in the prolific Uravan region of Colorado, in close proximity to Anfield’s West Slope uranium and vanadium project. The property holds a historical inferred resource of 2.5 million tons at 0.228% uranium and 1.37% vanadium, returning 11.6 million pounds of uranium and 69.6 million pounds of vanadium* and, between 1957 and 1983, Slick Rock produced 2.2 million pounds of uranium and 13.9 million pounds of vanadium. Finally, in 2014 Uranium Energy Corporation, the previous owner of Slick Rock, issued a PEA which stated a pre-tax project Internal Rate of Return of 33% and a Net Present Value of US$63.5 million, based on a discount rate of 7% and a uranium price of US$60 per pound, along with a vanadium price of US$10 per pound**.

The mineral resource estimates and PEA cited above are based on data and reports prepared by the previous operator of the project. Anfield is treating these reports as historic in nature. Work necessary to independently verify the classification of the mineral resource estimates and the PEA in accordance with National Instrument 43-101, confirmed by a qualified person, and in compliance with CIM standards has not been completed. This historical estimate and PEA should not be relied upon.

Anfield CEO, Corey Dias, stated, “We are excited at the prospect of both confirming, and improving upon, the Slick Rock PEA results previously issued, especially given that the results will consider the use of our wholly-owned conventional mill – Shootaring – for the purpose of producing both uranium and vanadium from Slick Rock ores. We believe that Anfield remains well-positioned to create further shareholder value with regard to its undervalued uranium and vanadium assets through the upgrading of its resource assets. Our two-fold strategy includes a near-term focus on uranium and vanadium production from our primary assets – Velvet-Wood, West Slope and Slick Rock – while our longer-term projects – such as Frank M, Findlay Tank and Artillery Peak – are expected to provide the Company with a secondary production pipeline to be leveraged once our primary mines are depleted.

“Finally, the prospect of Shootaring becoming the next operational conventional uranium and vanadium mill in the United States is significant both economically and with respect to the surety of supply for utilities. The Slick Rock PEA will not only represent a significant milestone for Anfield but will also outline a path towards commercial development of this property, alongside Anfield’s Velvet-Wood and West Slope projects. Anfield is clearly well-positioned to benefit from an improving uranium market”.

Slick Rock Project

Slick Rock is located in a well-known uranium mining region in Colorado, within the historic Uravan Mineral Belt and at the intersection of two major mineral trends. Uranium and vanadium were produced historically at the Burro Mine within the Slick Rock property package between 1957 and 1983, and future exploration targets continue to focus on the down-dip extensions of the Burro and Sunday-Carnation mineral trends. The property was the subject of a preliminary economic assessment in 2014.

* The Slick Rock historical resource estimate is disclosed in “Technical Report, Preliminary Economic Assessment, Slick Rock Project, Uranium/Vanadium Deposit, San Miguel County, Southwest Colorado, USA” prepared for Uranium Energy Corp. by BRS Inc. and dated April 8, 2014. The Company considers the resource estimate relevant as it will drive further development by the Company, and reliable, as it was completed by a competent Qualified Person to the standards of the time. The Slick Rock historical resource estimate is an inferred resource as defined in National Instrument 43-101. The Company is not aware of any more recent resource estimates. The Company will need to have the Technical Report updated by a Qualified Person to bring the historical mineral resource estimate current. The Company has not done sufficient work to classify the historic estimate as a current mineral resource and is not treating the historical estimate as a current mineral resource.

The results of the PEA represent forward-looking information. This economic assessment is preliminary in nature and it includes inferred mineral resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

The technical content of this news release has been reviewed and approved by Douglas L. Beahm, a Qualified Person, for the purposes of National Instrument 43-101.

About Anfield

Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on its conventional asset center, as summarized below:

Arizona/Utah/Colorado – Shootaring Canyon Mill

A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States and is one of only three licensed uranium mills in the United States.

Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado, and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium and vanadium assets include the Slick Rock Project, the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project, the Long Park Project as well as the Findlay Tank breccia pipe. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.

www.anfieldenergy.com

First Tellurium Corp., reports that its Strategic Partner Fenix Advanced Materials has participated in a significant new study on the game-changing potential of tellurium to revolutionize the charging and safety of lithium-ion batteries. The study, reported in the upcoming March edition of the technical journal Nano Energy, notes that tellurium offers “…a promising cathode to achieve long cycle life and high energy density for Li-S batteries.”

The article, titled A high-performance tellurium-sulfur cathode in carbonate-based electrolytes, was co-authored by Fenix Advanced Materials’ founder and CEO Don Freschi.

Freschi stated, “Our latest research on next-generation Lithium-Ion batteries has confirmed that tellurium will be a critical component for safer, quicker-charging, high energy capacity Lithium-Ion batteries for EVs and smaller electronics.”

Tellurium has many advantages when incorporated into Lithium-Ion Battery Cathodes, Freschi noted, due to its high theoretical energy density (longer lasting charge), very good electrical conductivity (much quicker charging), and safety (not volatile).

Fenix Advanced Materials, based in Trail, BC, has partnered with First Tellurium since 2019. Fenix is a clean technology company specializing in the manufacture of ultra-high purity (UHP) metals. They sell a variety of UHP metals for use in solar energy, telecommunications and commercial/military infrared markets and are currently working with UBC Okanagan and European partners to develop a solid-state, next-generation lithium-tellurium battery.

The goal of the FTEL/Fenix Strategic Partnership is to develop potential future tellurium extraction and purification plus other synergies to achieve a vertically integrated enterprise for cleantech metals.

“The work by Fenix reinforces our conviction that tellurium is becoming more and more essential for a green economy,” said First Tellurium President and CEO Tyrone Docherty. “Tellurium is already a crucial component for thin-film solar panels worldwide. New applications like Lithium-ion batteries will add to the metal’s importance as the world shifts away from fossil fuels towards electric vehicles.”

About First Tellurium Corp.

First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in the Indigenous territory with sustainable exploration.

Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.

Skyharbour Resources Ltd. is pleased to announce that the Company has commenced its inaugural winter drill program at the 73,294-hectare Russell Lake Uranium Project strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is planning a minimum of 10,000 meters of diamond drilling in 18 to 20 drill holes over several phases and is fully funded and permitted for the drilling. The geologists and drilling crews are working out of an exploration camp on the Project located on the highway and within five kilometers of Denison Mines’ Phoenix deposit located on the adjacent Wheeler River Project.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg

Jordan Trimble, President and CEO of Skyharbour, stated: “The commencement of our first diamond drill program at the Russell Lake Uranium Project is a key milestone for Skyharbour and its shareholders. This fully funded 10,000 m drill campaign will provide ample news flow well into the year as we advance the project using systematic and proven exploration methodologies coupled with new geological models and targeting strategies. We are confident in the discovery potential and exploration upside at Russell Lake given the high-grade mineralization in historical drill holes along with the many highly prospective target areas hosting the geology necessary for high-grade uranium deposition.”

“Skyharbour is also excited to have additional news flow and catalysts from its prospect generator business consisting of seven partner companies advancing some of our other projects throughout the Athabasca Basin. Over the next year, the Company is anticipating the largest combined drilling and exploration programs at its primary projects of Russell and Moore, as well as at its partner-funded projects of East Preston, Hook Lake, Mann Lake, Yurchison, South Falcon East, Wallee and Usam.”

Winter Diamond Drilling Program at Russell Lake:

Skyharbour will conduct a first phase of drilling consisting of 3,000 meters to follow up on notable historic exploration and findings, as well as to test additional targets with the potential to generate new discoveries. This phase of drilling will test previously identified prospective target areas, some of which host high-grade uranium mineralization in historical drill holes. Of particular interest for this inaugural drilling program will be the Grayling Zone located nearby the exploration camp and road. This first phase of drilling will then be followed up with several other phases of drilling totaling 10,000 meters in 18 – 20 drill holes.

After extensive compilation and review of the relevant exploration data, special attention has been given to the structural setting of the geological, geochemical and geophysical data at the Grayling Zone for exploration purposes. Wide-spaced drilling at the Grayling Zone encountered an 800 m long discontinuous zone of uranium mineralization in a ~2,200 m section of thrust-faulted conductive basement rocks (i.e. graphitic pelitic gneisses) up to 100 m thick, which lie along the overall >10 km long Grayling-M-Zone conductor trend. Uranium mineralization identified to date includes basement-hosted, unconformity-hosted and perched varieties associated with the nose of a basement thrust wedge (SMDI 2151, 3563, 3564). The best historical drill hole at the Grayling Zone is hole RL-85-07, where a 0.3 m interval grading 3.45% U₃O₈ intersected a depth of 363.2 meters, as well as an interval of 0.09% U3O8 over 0.5 m at a depth of 366.4 meters (SMDI 2151). Additional drill holes containing significant uranium mineralization related to the Grayling thrust fault are located along the >10 km long extension of the Grayling conductor trend, both on-property at the M-Zone Extension (SMDI 5540) and off-property at the M-Zone (SMDI 2139, 3569) on Denison Mines’ adjacent Wheeler River property, further highlighting the potential fertility of this major conductor trend.

Significant structural offsets with the potential to act as major traps for uranium mineralizing fluids have been identified at the Grayling Zone. Traps such as these are the setting for high-grade zones of uranium mineralization at Denison’s adjacent Wheeler River Project (Phoenix and Gryphon deposits) as well as Skyharbour’s adjacent Moore Uranium Project (Maverick and Maverick East Zones). The Company’s initial drill program at the Russell Lake project will be focusing on the large gaps between mineralized holes in order to further define the mineralization and controlling structures at the Grayling Zone, as well as testing the down-dip and down-plunge extensions of the Grayling thrust fault into the basement rocks which have seen limited historical drilling. Logistics for this initial drill program will be facilitated by the proximity of the Grayling Zone to the camp at McGowan Lake.

Russell Lake 2023 Winter Drill Program Drill Targets:
https://skyharbourltd.com/_resources/images/Drill-Targets-2023-Winter-Drill-Program.jpg

The first drill holes will be drilled near RL-00-22A which returned 0.12% U₃O₈ over 2.2 m at 343.3 m depth, including 0.26% U₃O₈ over 0.5 m (Assessment File 74H06-0108), to confirm thrust related uranium mineralization in the southeasternmost part of the Grayling Zone and track it along the strike extent. These initial holes will be drilled to intersect the Grayling thrust fault at depth. Depending on the results additional holes are planned in the approximately 300 m gap in drilling between holes RL-00-22A and RL-07-05 which returned 0.03% U3O8 over 1.0 m at 366.0 m depth and 0.16% U3O8 over 0.5 m at 389.1 m depth (Assessment File 74H06-0134), and hole RL85-07, the best hole on the property which returned 3.45% U3O8 over 0.3 m at 363.2 m depth as well as 0.09% U3O8 over 0.5 meters at 366.4 m depth (Assessment File 74H06-0091/SMDI 2151).

Additional drill holes for this winter’s program are planned along the Grayling thrust near hole RL-00-20 (returned 0.043% U₃O₈ over 0.5 m at 335.2 m depth and 0.038% U₃O₈ over 1.5 m at 336.8 m depth – Assessment File 74H06-0108), hole RL-85-08 (returned 0.7 m of 0.073% U₃O₈ at 323.35 m depth and 1.0 m of 0.32% U₃O₈ at 327.0 m depth – Assessment File 74H06-0091), hole RL-08-16 (returned 0.054% U₃O₈ over 0.9 m at 328.5 m depth and 0.768 % U₃O₈ over 1.0 m at 331.0 m depth – Assessment File 74H11-0126), and hole RL-87-16 (returned 0.40% U₃O₈ over 3.75 m at 327.5 m depth – Assessment File 74H06-0102, SMDI 2151). These drill holes will test the strike extent of the mineralization between previous drill hole fences, as well as test the Grayling thrust fault in the nose of the thrust at the unconformity and in the hanging wall of the fault to further determine the relationship between mineralization and the Grayling thrust fault.

Regional Drill Target Refinement at Russell Lake:

There have been numerous geophysical surveys covering the Russell Lake project throughout its history and Skyharbour has contracted Condor Consulting to conduct geophysical and geological compilation and interpretation work. Historical data is being re-examined using modern processing and modeling techniques in order to generate and optimize regional drill targets for future drill programs on the property. Condor’s extensive knowledge of the uranium deposits of the Athabasca Basin, worldwide experience, broad client base and advanced technical expertise make them the logical candidate to adequately assess the extensive collection of geophysical data on the property.

Condor has been focusing on the Grayling, Grayling East, Grayling West, Fox Lake Trail, and M-Zone Extension areas (i.e. area of interest “AOI”), where previous drilling has intersected prospective mineralization, alteration, structure, and geochemistry. Condor has stitched together magnetic data from several historical magnetic surveys and performed 3D magnetic susceptibility inversion of the data as required. These inversions are being used to generate various mapping products. Conductors are being picked using existing airborne EM data, and Condor will define conductor axes where possible with additional modeling of the available ground EM data to further aid conductor definition. A pair of airborne gravity surveys over the AOI has been merged, and both the airborne and ground gravity data are being used to generate a number of 2D and 3D target models. Additionally, 2D and 3D DC resistivity interpretations generated by the previous operator Rio Tinto have been used in target assessment. The combined results from this compilation and interpretation work are producing geophysical targets for continued drilling at the Project and it is identifying any data gaps where additional surveying may be required.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totaling 73,294 hectares strategically located between Cameco’s Key Lake and McArthur River Projects and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. Highway 914, which services the McArthur River mine, runs through the western extent of the Property and greatly enhances accessibility. Similarly, a high-voltage powerline is situated alongside Highway 914. Skyharbour’s acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totaling 108,999 hectares between the Russell Lake and the Moore uranium projects.

There has been a meaningful amount of historical exploration carried out at Russell Lake but most of it was conducted prior to 2010. The Property has been the subject of over 95,000 meters of drilling in over 230 drill holes. The Property’s claims are in good standing for 2-22 years with significant assessment credits built-up from previous exploration programs.

Several notable exploration targets exist on the property including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. More than 35 kilometers of largely untested prospective conductors in areas of low magnetic intensity exist on the Property as well.

At the Grayling Zone, drilling in a 2,200 m long section of the >10 km Grayling-M-Zone conductor trend graphitic intersected an 800 meters long discontinuous zone of basement-hosted uranium mineralization with localized perched and unconformity-hosted associated mineralization along a >100 m thick interval of thrust-faulted graphitic pelitic gneisses (SMDI 2151, 3563, 3564). Drill hole RL-85-07 intersected 3.45% U3O8 over 0.3 meters at a depth of 363.2 meters and 0.09% U3O8 over 0.5m at a depth of 366.4 meters (SMDI 2151). This target is prospective for additional high-grade uranium discoveries and is open in several directions.

Historical drilling at neighboring Denison’s M-Zone along the >10km long Grayling conductor trend intersected basement hosted uranium of up to 0.70% U3O8 over 5.8 meters at a depth of 374.0 meters (SMDI 2139, 3569). Like the Grayling Zone, the mineralization is hosted by a graphitic thrust fault. The northeast extension of the M-Zone-Grayling corridor onto the Property, the M-Zone Extension target, has seen limited drilling, but mineralization was intersected in historical drilling, returning 0.7 meters of 0.123% U3O8 at 619.1 meters depth in hole MZE-11-03 (SMDI 5540).

The Little Man Lake Zone target is 500 meters long, 10 to 15 meters thick, and 25 to 35 meters wide, and is a zone of prospective geology associated with an unconformity depression. The last drilling in this area was in 1989, prior to modern uranium exploration models, with historical uranium grades ranging from 0.03% up to 0.1% U3O8 at around 300 meters depth (SMDI 2429).

At the Fox Lake Trail target area, uranium mineralization was intersected in a few historical drill holes. Significant intercepts include 0.0743% U₃O₈ over 1.0 meters at 525.5 meters depth in hole FLT-08-06 (SMDI 3566), and 0.053% U3O8 over 0.3 meters at 516.9 meters depth in hole FLT-11-14 (SMDI 3565). A prospective quartzite ridge runs through the area along with anomalous geochemistry in faulted basement metasediments. Significant sandstone-hosted sulfides are also found in this area.

The Christie Lake target area contains basement-hosted uranium mineralization with historical drill results returning 0.17% U₃O₈ over 0.4 meters at 436.4 meters depth in hole CL-10-03(SMDI 5305). A prospective clay-altered basement fault system runs throughout this area.

In addition to the aforementioned target areas, there are more than 35 kilometers of untested conductors on the Property underlain by rocks of low magnetic intensity, suggestive of prospective graphitic meta-pelitic basement rocks. The Project has seen limited exploration in the previous twelve years, so minimal modern exploration techniques and methods have been used to expand existing zones of mineralization as well as to make new discoveries.

There is a fully permitted exploration camp on the Project suitable for over forty people located on the highway and within 5 kilometers of Denison’s Phoenix deposit. Skyharbour has the option to acquire an initial 51% interest in the project and can acquire up to a 100% interest in the project from Rio Tinto (see news release dated July 19^th, 2022).

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with eighteen projects, ten of which are drill-ready, covering over 460,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometers east of Denison’s Wheeler River project and 39 kilometers south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 meters including 20.8% U3O8 over 1.5 meters at a vertical depth of 265 meters. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has a joint venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit.

Skyharbour has several active option partners including ASX-listed Valor Resources on the Hook Lake Uranium Project, CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project, and CSE-listed Medaro Mining Corp. on the Yurchison Project. More recently, Skyharbour announced two new earn-in option agreements with Yellow Rocks Energy, a private Australian entity, to option the Wallee and Usam Island projects, and Tisdale Clean Energy at the South Falcon East Project.

Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has recently optioned the South Falcon East Project, a uranium project in the southeast Athabasca Basin that represents a portion of the larger South Falcon Project, to Tisdale Clean Energy whereby Tisdale will fund exploration, pay Skyharbour in cash, and issue shares of the company over a five-year earn-in period.

Collectively, Skyharbour has now signed option agreements with partners that total over $34 million in partner-funded exploration expenditures, over $22 million in stock being issued and just under $15 million in cash payments coming into Skyharbour, assuming that these partner companies earn in the full amount at their respective projects.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favorable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg

To find out more about Skyharbour Resources Ltd. visit the Company’s website at www.skyharbourltd.com.

From mining to manufacturing, to charging, Canadian businesses and workers are attracting historic investments in the electric vehicle supply chain. When electric vehicles are made from Canadian minerals, assembled by Canadian auto workers, and powered at Canadian-made chargers, we secure and create jobs, grow our economy, and keep our air clean now and into the future.

The Prime Minister, Justin Trudeau, met with workers at the Saskatoon facility of Vital Metals, Canada’s first rare earth producer. Rare earth elements are a critical mineral used in clean technology like electric vehicles and wind turbines. The Government of Canada recently announced $5 million in funding to help establish processing and production at this facility, part of a series of federal investments to support jobs and the growth of Canada’s critical minerals sector.

Critical minerals are the building blocks of the clean economy and are in increasing demand globally. Canada’s first Critical Minerals Strategy, released in December 2022, is a roadmap to make Canada a global supplier of choice for critical minerals.

Canadian workers and businesses are already leading in clean energy and technology, and the components that go into it. As demand continues to grow, positioning Canada as a reliable supplier will create even more Canadian jobs, grow our economy, and cut pollution to help fight climate change.

“The world wants clean technology, and Canada has the resources, the expertise, and the skilled workers to meet that demand. By developing and processing our critical minerals here in Canada – the first step in the clean technology supply chain – we can create good middle-class jobs all while keeping our air clean for generations to come.” said The Rt. Hon. Justin Trudeau, Prime Minister of Canada

Quick Facts

• Critical minerals are central to major global industries like clean technology, health care, aerospace, and computing. They are used in solar panels, phones, and computers, and are vital to produce electric vehicles. Permanent magnets and rare earth elements are essential inputs into electric vehicle motors and many clean technology applications.
• Canada’s Critical Minerals Strategy is backed by up to $3.8 billion in federal support, announced in Budget 2022. The proposed funding covers the whole critical minerals supply chain, from geoscience and exploration to mineral processing, manufacturing, and recycling applications, including support for research, development, and technological deployment.
• Saskatchewan is a Canadian leader in producing sustainable critical minerals, with a rich supply of uranium. The world’s largest producer of potash, the province is home to the world’s most sustainable potash mine.
• Recent federal investments in the development of critical minerals include a contribution of up to $222 million through the Strategic Innovation Fund to help Rio Tinto Fer et Titane to increase its production of essential minerals and a $27 million contribution to E3 Lithium Ltd. through the Strategic Innovation Fund’s Net Zero Accelerator initiative.
• Canada currently produces 60 minerals and metals at 200 mines.
• Vital Metals is Canada’s first rare earth miner. The company crushes and sorts ore at the Nechalacho mine in the Northwest Territories, before sending the ore to the Saskatoon rare earth extraction plant.

A novel technique called Underground Gravity Energy Storage turns decommissioned mines into long-term energy storage solutions, thereby supporting the sustainable energy transition.

Renewable energy sources are central to the energy transition toward a more sustainable future. However, as sources like sunshine and wind are inherently variable and inconsistent, finding ways to store energy in an accessible and efficient way is crucial. While there are many effective solutions for daily energy storage, the most common being batteries, a cost-effective long-term solution is still lacking.

In a new IIASA-led study, an international team of researchers developed a novel way to store energy by transporting sand into abandoned underground mines. The new technique called Underground Gravity Energy Storage (UGES) proposes an effective long-term energy storage solution while also making use of now-defunct mining sites, which likely number in the millions globally. 

UGES generates electricity when the price is high by lowering sand into an underground mine and converting the potential energy of the sand into electricity via regenerative braking and then lifting the sand from the mine to an upper reservoir using electric motors to store energy when electricity is cheap. The main components of UGES are the shaft, motor/generator, upper and lower storage sites, and mining equipment. The deeper and broader the mineshaft, the more power can be extracted from the plant, and the larger the mine, the higher the plant’s energy storage capacity.

“When a mine closes, it lays off thousands of workers. This devastates communities that rely only on the mine for their economic output. UGES would create a few vacancies as the mine would provide energy storage services after it stops operations,” says Julian Hunt, a researcher in the IIASA Energy, Climate, and Environment Program and the lead author of the study. “Mines already have the basic infrastructure and are connected to the power grid, which significantly reduces the cost and facilitates the implementation of UGES plants.”

Other energy storage methods, like batteries, lose energy via self-discharge over long periods. The energy storage medium of UGES is sand, meaning that there is no energy lost to self-discharge, enabling ultra-long time energy storage ranging from weeks to several years. 

The investment costs of UGES are about 1 to 10 USD/kWh and power capacity costs of 2.000 USD/kW. The technology is estimated to have a global potential of 7 to 70 TWh, with most of this potential concentrated in China, India, Russia, and the USA. 

“To decarbonize the economy, we need to rethink the energy system based on innovative solutions using existing resources. Turning abandoned mines into energy storage is one example of many solutions that exist around us, and we only need to change the way we deploy them,” concludes Behnam Zakeri, study coauthor and a researcher in the IIASA Energy, Climate, and Environment Program.

The International Institute for Applied Systems Analysis (IIASA) is an international scientific institute that conducts research into the critical issues of global environmental, economic, technological, and social change that we face in the twenty-first century. Our findings provide valuable options to policymakers to shape the future of our changing world. IIASA is independent and funded by prestigious research funding agencies in Africa, the Americas, Asia, and Europe.

www.iiasa.ac.at

Lomiko Metals Inc. reaffirms its vision to embrace Indigenous people and Indigenous values within our projects, to develop a sustainable approach on our path to critical minerals development, while honoring the lives, memories, and hopes of all seven generations close.

The projects where Lomiko has natural flake graphite claims, namely La Loutre and surrounding claims, are located within the traditional land of the Kitigan Zibi Anishinabeg First Nation’s territory. The KZ First Nation is part of the Algonquin Nation and the traditional KZ territory is situated within the Outaouais and Laurentides regions. The Bourier lithium project site is located near Nemaska Lithium and Critical Elements, southeast of the Eeyou Istchee James Bay territory and within the traditional land of the Cree Eeyou Istchee Peoples.

Belinda Labatte, CEO and Director: “Just over twelve months ago, we embarked on our journey to listen and learn from First Nations, and work toward our vision of climate success stories that are inclusive, and respect community values. Our first step was the development of a land acknowledgment, and today we take the opportunity to recognize that we are operating on KZ traditional land, where we retain mineral rights. This distinction, from land ownership, is now reflected in all our materials.

We thank Independent Director Lee Arden Lewis, status member of the Mohawks of the Bay of Quinte Tyendinaga Mohawk Territory, and Advisor, Anne Chabot, strategic advisor to management on our work with KZ First Nation, for their guidance and support.

Lomiko further recognizes Reconciliation and supports the Canadian Critical Minerals strategy available here: https://www.canada.ca/en/campaign/critical-minerals-in-canada/canadian-critical-minerals-strategy.html#a54). Lomiko commits to Call to Action #92 of the Truth and Reconciliation Commission of Canada, which calls upon the corporate sector to:

• commit to meaningful consultation and seek the free and informed consent of Indigenous peoples prior to any economic development projects;
• ensure equitable access to jobs, education, and training, and ensure that Indigenous communities gain long-term sustainable benefits from economic development projects;
• Educate management and staff on the legacy and history of Indigenous people, and on UNDRIP, treaties and Aboriginal rights, Indigenous law, human rights, and anti-racism.

In this past year: we have engaged with First Nations leaders and colleagues to better understand how we can do better as we build Lomiko; we held a reception in Montreal, Quebec “Voices at the Table” to talk about critical minerals development from a First Nations perspective; we commissioned artwork from a Mohawk artist to visually show our commitments; and we continue to talk to students and other Canadians about the importance of Indigenous and First Nations-led processes, for the future of our industry.”

The full artist statement can be seen on the company’s website at: https://lomiko.com/la-loutre-community-updates/.

Lomiko has a vision and purpose: we are a people-first company and believe we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals, for a solution in North America. Lomiko is ECOLOGO certified and seeks to be a responsible operator of choice in Quebec.

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy for new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbor with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals. Lomiko is ECOLOGO certified.

The Company holds mineral interests in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg First Nation territory. The KZA First Nation is part of the Algonquin Nation and the KZA traditional territory is situated within the Outaouais and Laurentides regions.​ Located 180 kilometers northwest of Montreal, the property consists of 1 large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2). Lomiko Metals published a Preliminary Economic Assessment on September 10, 2021, which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95%Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements and southeast of the Eeyou Istchee James Bay territory in Quebec and within the traditional land of the Cree Eeyou Istchee Peoples. It consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of Quebec, which has historically housed lithium deposits and mineralization trends.

Mr. Mike Petrina, Project Manager, a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.

For more information on Lomiko Metals, review the website at www.lomiko.com

Critical minerals are an essential component of many renewable energy and clean technology applications and are vital to building Canada’s green and digital economy. That is why the Government of Newfoundland and Labrador is joining the Government of Canada in providing support to help the province’s mining sector to grow and meet the increasing global demand for critical minerals.

The Honourable Seamus O’Regan Jr., federal Minister of Labour and MP for St. John’s South-Mount Pearl, announced an investment of $5.2 million over the next three years for the Government of Newfoundland and Labrador to deliver two new critical mineral initiatives focused on geoscience and exploration activities. The announcement was made on behalf of the Honourable Ginette Petitpas Taylor, federal Minister of Official Languages and Minister responsible for ACOA.

In addition, the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, confirmed $4.6 million in support through its existing Junior Exploration Assistance program and in-kind support over three years. These investments support an airborne geophysical survey program to help identify areas in the province for potential critical mineral exploration. The surveys will capture data remotely from areas where the geology is not well understood due to poor bedrock exposure. 

The funding will also provide increased support for eligible junior exploration companies searching for critical minerals in Newfoundland and Labrador through a new component of the Provincial Government’s Junior Exploration Assistance Program. Newfoundland and Labrador’s mineral industry continues to be a key economic driver for the province and a focus for investment attraction efforts. The estimated activity for 2022 is projected to result in over $5.4 billion in mineral shipments, $189 million in exploration expenditures, and employment of approximately 8,800 person-years.

Quotes

“The rise of critical minerals presents a real opportunity for Newfoundland and Labrador, given this province’s tremendous critical mineral potential. Support for exploration is necessary to expand our future critical mineral production and our participation in the creation of those products necessary to drive the transition to a green economy,” said Honorable Andrew Parsons, Minister of Industry, Energy, and Technology.

“Newfoundland and Labrador’s remarkable geology has helped us build a strong mining sector that provides thousands of jobs and many benefits for businesses and communities. We know that there is an untapped potential right here to discover more of the critical minerals that Canada and the world need to build a greener economy,” said Honorable Seamus O’Regan Jr., Minister of Labour and MP for St. John’s South-Mount Pearl.

“Atlantic Canada has an important role to play in developing sustainable industries and contributing to the digital economy. This investment will help ensure that more critical mineral exploration and development move forward, which will contribute to clean growth and support this region’s mining industry,” said Honorable Ginette Petitpas Taylor, Minister of Official Languages and Minister Responsible for ACOA.

Belinda Labatte, CEO and Director stated: “We are pleased that these assays further confirm the results of the infill and expansion programs encountered so far. Significant intervals were encountered in the third and last batch of results from the Battery Zone, including 10 holes (LL-22-70 to 79) in the south end of the Battery Zone. The assay results further validate the continuity and quality of the mineralization. The best interval of 10.37% Cg over 64.0m was encountered in hole LL-22-074 including 14.15% Cg over 14.5m. We look forward to receiving the results from the shoulder sampling conducted in November in the EV and Battery Zones, to complete the drill database. The database would be used to start with the NI-43-101 compliant mineral resource estimate.”

Highlights

Assay results from the third and last batch of 10 of 26 holes drilled at Battery Zone:

• Consistent, near-surface graphite mineralization along the southwest margin of the Battery Zone
• Strong graphite values and significant widths in all 10 drill holes
• The best interval of 10.37% Cg over 64.0m from 27.0 to 91.0m in hole LL-22-074 including 14.15% Cg over 14.5m from 45.0 to 90.0m
• The second best interval of 11.42% Cg over 26.5m from 48.0 to 74.5m including 15.01% Cg over 13.5 from 51.0 to 64.5m and 17.16% Cg over 5.5m from 69.0 to 74.5m in hole LL-22-073
• The battery zone remains open on the south end.

The drilling was supervised by Québec-based, independent geological consultant Breakaway Exploration Management Inc. and was operated under ECOLOGO requirements and compliance protocols, as Lomiko is ECOLOGO certified. Please see the press release issued on March 23, 2022, for more details about Lomiko’s ECOLOGO certification.

The drill program at La Loutre was initiated on May 15, 2022, with the goal to further define the deposit, provide the data needed to increase confidence in the mineral resource, and build on the results of the positive Preliminary Economic Assessment (“PEA”) for the La Loutre project as announced in the Company’s July 29, 2021 press release. Lomiko has retained InnovExplo Inc, a Quebec-based independent consulting firm specializing in geology, resource estimation, mining engineering, and sustainable development, to prepare an updated NI 43-101 compliant resource estimate for the La Loutre project following the completion of the 2022 drill program.

The assay results reported in this press release are for the 10 holes drilled at the south end of the Battery Zone. These holes were drilled to confirm the results of the previous drilling and provide better detail in this part of the Battery deposit. Please refer to Table 1 for the weighted averaged graphitic carbon-bearing drill intersections (not true thickness) and Table 2 and Figure 1 for the collar locations referred to in this press release.

Significant intervals of graphite mineralization were intersected in all 10 holes. The best intersection was 10.37 percent graphite (“%Cg”) over 64.0m from 27.0 to 91.0m in hole LL-22-074 including 14.15% Cg over 45m from 45.0 to 90.0m. The second-best interval was 11.42% Cg over 26.5m from 48.0 to 74.5m including 15.01% Cg over 13.5 from 51.0 to 64.5m and 17.16% Cg over 5.5m from 69.0 to 74.5 in hole LL-22-073. These two holes as well as holes LL-22-077, LL-22–078, and LL-22–079 form the southernmost extent of the Battery Zone. The robust dimensions and tenor of the strong intervals intersected in these holes suggest that the intervals continue further to the southeast and that the Battery zone remains open in that direction.

Generally, it was noted that the graphite mineralization intersected in the Battery zone is visually more coarse-grained than the graphite mineralization intersected at the recently drilled EV Zone.

Table 1: Weight averaged graphitic carbon-bearing drill intersections (not true thickness)

Table 2: Drill Hole Collar Locations (UTM NAD 83, Zone 18)

QAQC and Analytical Procedures

The drill core was logged and marked for sampling by a professional geologist. All the core was photographed as part of the logging procedure. Core samples were collected by splitting each sample interval in half lengthwise with a hydraulic core splitter. One-half of the interval was returned to the core box, and the other half was placed in a plastic bag with a tag. The tag number was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-wrap. One certified reference material standard and one blank were included in each batch of 21 samples. For shipping, samples were placed in rice bags that were individually sealed with numbered, tamper-proof security tags. The rice bags were then placed on wooden pallets, secured with plastic wrapping, and delivered by truck to Manitoulin Transport Inc. for shipping to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario.

At Actlabs the samples were crushed to 80% passing 2mm and then riffle split to a 250g sub-sample that was pulverized to pulp 95% passing 105μm (Actlabs Code RX1). The sample pulps were then analyzed for graphitic carbon “Cg”) by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited under ISO 9001:2015 registration and is independent of the Company.

Qualified Person

The technical content presented in this press release was reviewed by Mark Fekete, P.Geo. who actively participated in the La Loutre drill program as an independent consultant to the Company as the “Qualified Person” as that term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy for new energy. Lomiko represents a company with a purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbor with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.

In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation towards earning its 70% stake in the Bourier Project as per the option agreement announced on April 27^th, 2021. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.

About the La Loutre Graphite Project

The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions.​ Located 180 kilometers northwest of Montreal, the property consists of one large, continuous block with 76 mineral claims totaling 4,528 hectares (45.3 km2).

The Property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville was formed under conditions that were very favorable for the development of coarse-grained, flake-type graphite mineralization from organic-rich material during high-temperature metamorphism.

Lomiko Metals published July 29, 2021, Preliminary Economic Estimate (PEA) which indicated the project had a 15-year mine life producing per year 100,000 tonnes of graphite concentrate at 95% Cg or a total of 1.5Mt of graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors.

For more information on Lomiko Metals, review the website at www.lomiko.com

President & Director Rowland Howe will provide an in-depth update on the Company at 11:40 a.m. ET, November 22, 2022. RMEC is an interactive experience for featured companies and investors. Companies will have 20 minutes to outline their investment opportunity before investors get the ability to engage in a real-time Q&A with management after the presentation.

About Atlas Salt

Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource located immediately next to a deep water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues the development of Fischell’s Brook Salt Dome in the heart of an emerging Clean Energy Hub on the west coast of Newfoundland.

About RMEC

RMEC (Resource Mining & Exploration Conference) is a unique virtual investor conference. The goal is to expose new investors, as well as our global network of retail and institutional investors, to vet Exploration & Mining opportunities. The number of companies is limited, and the content is curated with investor time and interest is paramount. While not exhaustive by design, the REMC aims to present potential investments to new and seasoned resource investors by presenting highlights for further research.
 
Each participating company hosts a live presentation followed by a Q&A period within approximately a 35-minute slot. The goal is to help investors learn about the junior companies that are shaping the future of the Global Resource Sector within a responsive and pressure-free environment.
 
RMEC will present up to six junior exploration companies, as they seek to discover the next world-class mines.

Investors can get more detail about RMEC at www.rmeconferences.com.

Nick Houghton, President and CEO comments, “We have been very encouraged by the initial results from the first phase of our exploration on the Blue Cove Property. The project has proven its merit to the Company though it has only seen limited work historically. Given our early findings of high-grade copper, additional work is deemed necessary to advance this project to the next level in a diligent and cost-effective manner.”

First-phase reconnaissance exploration efforts on the Property have identified four key areas of interest with other new targets recently identified. The results of the 2022 exploration work can be found in Press Releases dated August 02, 2022, and September 28, 2022. The main targets currently under priority investigation include:

• Blue Cove – Significant outcrop showing high-grade copper up to 3.56% Cu assayed. Copper sulfides occur as chalcocite, bornite, and chalcopyrite, Notable silver, and zinc assays are also present.
• Hilltop– Newly identified multi-element soil geochemical anomaly with a coincident magnetic low feature where historical drilling has intersected individual intersections within a 5-foot interval assaying up to 0.49% Cu, 2.0% Pb, and 1.9% Zn.
• Yellow Cove – Large alteration zone with multi-element soil geochemical anomalies.
• RylesBarisway– Known copper mineralization in outcrop with surface samples grading 3.0% Cu. A recent soil geochemistry survey requires further delineation of anomalous samples on the west side of the recon grid area.

Moving forward, the Company plans on continued prospecting of the known target areas as well as follow-up on nearly identified prospective areas and overall prospecting of the Property in general including key geological structures of interest. Additional work expanding areas of soil geochemical sampling and continued ground geophysical techniques including a magnetometer and induced polarization/resistivity surveying will also be undertaken. Should exploration results warrant, a drill program would likely be the next step to advance the project. A decision on drilling will be made once all data is carefully evaluated.

Dean Fraser, P.Geo., a “Qualified Person” for the purpose of National Instrument 43-101, has reviewed and approved the contents of this news release.

The Company also announces that it has issued an aggregate of 6,000,000 restricted share units (each, an “RSU”) to certain directors, officers, and consultants of the Company pursuant to the Restricted Share Unit Plan of the Company, all such RSUs vesting immediately. The RSUs and any common shares issuable upon conversion thereof will be subject to a four-month hold period in accordance with the policies of the Canadian Securities Exchange.

About West Mining Corp.

West Mining Corp. is a mineral exploration company acquiring and developing advanced and prospective early-stage exploration projects.  It is fully focused on its 100% owned, 9000-hectare Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties:  Kena, Daylight, and Athabasca.  A recent NI43-101 resource estimate for Kena gave 561,900 oz Au indicated and 2,773,100 oz Au inferred in the Gold Mountain, Kena Gold, and Daylight Zones. The Kena Property also hosts the large Kena Copper Zone, along with with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene, and Great Eastern gold mines.  Along the trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine. The historic mines and known mineralized zones on these three properties are structurally controlled along a 20-kilometer strike as identified by strong geophysical signatures.

Partnering with an industry leader such as NAH, which is the most active driller of helium wells globally by a wide margin, offers a significant advantage for HEVI. As a result of being aligned with NAH and executing this Amended Farmout, HEVI is ideally positioned to benefit from the continued exploration and development of its asset base by NAH and to leverage its extensive data, learnings, and expertise, without spending capital in the near term. NAH’s farm-in allows HEVI to conserve its approximately $10 million in cash and liquid assets while maintaining financial flexibility and future optionality to pursue other targets across the Company’s 5.5 million acres of helium rights.

As part of the Amended Farmout, HEVI and NAH also entered into a new seismic option agreement (the “Seismic Option Agreement”) and seismic option review agreement (the “Seismic Option Review Agreement”) (and together with the Seismic Option Agreement, the “Seismic Agreements”), which could expand the number of wells to be drilled by NAH by 60%, from the original five to up to eight. The Amended Farmout supersedes the original farmout entered into with NAH on June 28, 2022 (the “Original Farmout”) and maintains all earning terms and after-earning operations from the Original Farmout.

“This Amended Farmout truly sets HEVI apart from other helium-focused peers, as we are afforded multiple near-term drilling catalysts, including two exploration wells by year-end 2022 and a third drill in the first half of 2023, without spending our own capital and while retaining 99% of our land base,” said Greg Robb, President & CEO of HEVI. “In addition, NAH could increase the number of drills from five, contemplated under our Original Farmout, up to potentially eight wells as a result of the Seismic Agreements, an approximately 60% increase. The Amended Farmout allows HEVI to maintain optionality to continue exploration and development of internally-generated targets on our extensive land base while providing visibility to bring production on stream without subjecting shareholders to dilutive equity financing.”

Strategic Benefits of the Amended Farmout & Seismic Agreements

• Drilling Timelines Accelerated: NAH will accelerate the timeline to drill its first two test wells at Mankota, as defined herein, into Q4/22 and commits to drilling a third well in the first half of 2023. If any of these three initial test wells are commercially productive, NAH has committed to expeditiously drill development wells on the related earned farmout blocks, which management expects could be timed to coincide with a potential new NAH processing facility.
• Receipt of Proprietary Seismic: Under the Amended Farmout, NAH will furnish to HEVI two proprietary seismic lines comprised of 35km of data in the Mankota area, previously used by NAH to target drilling locations, of which three are currently producing helium. Mankota is situated in the first of three predetermined blocks of land in Saskatchewan as outlined in the Original Farmout. NAH will select a fourth and fifth test well location on each of the other two blocks by June 30, 2023, with both wells to be spud by Q1/24.
• Seismic Agreements Expands Drilling: NAH and HEVI have entered into a new Seismic Option Agreement and Seismic Option Review Agreement, covering two seismic option areas (the “Seismic Option Areas”) and one seismic review area (the “Seismic Review Option Area”) at Mankota. Details of the Seismic Agreements are provided below.

Seismic Option Areas: Pursuant to the Seismic Option Agreement, NAH will shoot new seismic, incurring 100% of the cost, in both Seismic Option Areas, the data from which will be provided to HEVI, and earn NAH the right to drill an option well (the “Option Well”) in each of the two Seismic Option Areas prior to August 31, 2023, thereby earning an 80% operated interest in the section on which the Option Well was drilled plus nine contiguous sections of land. Following the drilling of each Option Well, NAH retains an 80% and HEVI a 20% working interest in the operations and lands. If NAH does not spud an Option Well by August 31, 2023, their ability to earn a working interest terminates.

Seismic Review Option Area: Pursuant to the Seismic Option Review Agreement, NAH is able to review HEVI’s proprietary seismic data covering the identified Seismic Review Option Area, along with data from HEVI’s 06-02-06-06W3M well for a 30-day period. Following this review, NAH can elect to drill a well in the Seismic Review Option Area (the “Seismic Review Option Well”) on or before the end of Q2/23, release the option altogether, or shoot new seismic data over the Seismic Review Option Area. If the latter option is elected, NAH would provide the data to HEVI, and have the option to spud a Seismic Review Option Well before October 31, 2023, on the same terms as Option Wells outlined above.

Executing this Amended Farmout provides numerous strategic advantages for HEVI. With NAH committing to drilling two wells in Q4/22 and a third well in the first half of 2023, HEVI offers shareholders exposure to near-term drilling catalysts that can accelerate cash flow generation. In addition, HEVI will receive proprietary seismic that NAH used to successfully bring three new helium wells into production, giving HEVI greater insight and valuable data that can be used in identifying future targets. Finally, the execution of the Seismic Agreements will give HEVI access to greater seismic coverage on its land without the associated costs, and provides an opportunity to participate in wells drilled by NAH across the Seismic Option Areas and Seismic Review Option Area. All of these enhancements are expected to drive meaningful value creation and strengthen HEVI’s longer-term outlook.

About Helium Evolution Incorporated

Helium Evolution is a Canadian-based helium exploration and production company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market, offering a compelling opportunity for investors.

The pilot pond was built according to engineering design utilizing only in-situ material. Soil mechanics showed favorable parameters such as soil type, particle size distribution, and compaction properties making the Blanca Lila formation, which covers most of Almafuerte and Graciela claim blocks, an attractive site for the construction of a production complex. The favorable soil conditions eliminated the need for geotextile layers under the liner, reducing the overall cost of construction. The pond has been filled to operating brine height with Pastos Grandes raw brine averaging 558 mg/l Li. A permanent salt floor is being deposited over the liner to protect the liner during harvesting. Once the permanent salt floor design thickness has reached design specifications, internal walls shall be constructed using waste sodium chloride covered with HDPE.

Eduardo Morales, Executive Chairman of Arena, commented, “We are extremely pleased with progress to date at SDLP. Construction of the ponds was completed on schedule and budget, setting a solid foundation for the completion of detailed engineering of commercial-sized ponds. We are in the process of selecting engineering firms for the design of a 40,000 tonne per annum lithium chloride facility, which will incorporate the results of an economic assessment including capital and operating cost estimates.”

Environmental, Social & Governance Update

Since the acquisition of the Sal de la Puna project Arena has developed a healthy relationship with local communities. The strength and support shown by the local communities for the Project are also a testament to the long-standing relationships existing with Arena’s operations team, many of whom have been operating in the immediate region for over a decade.

Arena’s business model and processing approach provide an environmentally friendly and sustainable alternative to the more conventional liming process that traditionally requires a chemical plant on site. In aiming to produce >35% LiCl directly from ponds, Arena does not require a more environmentally sensitive liming plant while minimizing the use (to almost zero consumption) of both power and freshwater thus reducing our carbon footprint. The Arena process is powered by solar energy (evaporation) and does not employ fresh water. The only power and water required are for the camp and minor ancillary services, such as pumping. Like most lithium brine projects in the Puna region of Argentina, Sal de la Puna is located in a high-altitude desert where both power and water are scarce commodities.

A production Environmental Impact Study (“EIS”) has been submitted to the mining authorities in Salta for the permitting of a 40,000 tonne per annum lithium chloride facility. The study evaluates the impact of constructing 490 hectares of lined evaporation ponds, thirteen production wells, and related ancillary infrastructure on the Almafuerte and Graciela claim blocks. These claim blocks are primarily covered by the Blanca Lila geological formation where the 1-hectare pilot pond has been constructed with favorable results. The lithium-bearing aquifers targeted by the good field are interpreted as hydraulically separate from any surface waters and therefore of minimal impact on the basin habitats. The Company is working closely with the authorities on minimizing any potential impacts in a timely manner while ensuring the local communities and provincial governments benefit from value-add lithium products.

About Arena Minerals Inc.

Arena owns 65% of the Sal de la Puna Project covering approximately 13,200 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the Company owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation’s Antofalla project. Arena has developed a proprietary brine processing technology using brine-type reagents derived from the Antofalla project with the objective of producing more competitive battery-grade lithium products.

Arena also owns 80 percent of the Atacama Copper property within the Antofagasta region of Chile and 5.8 million shares of Astra Exploration. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile’s premier copper mining district.

For more information regarding the Company, its management, expertise, and projects, please visit www.arenaminerals.com.

Jordan Trimble, President, and CEO of Skyharbour Resources stated: “We continue to discover and delineate new zones of uranium mineralization at our high-grade Moore Project and have plans for future drilling and exploration at the property. This will be tied in with the inaugural drill program at our newly optioned Russell Lake Uranium Project where we are planning to commence the first of several phases of drilling shortly. We are fully funded for our largest-ever drill campaign over the next twelve months at our core projects, and additional news flow will be generated at several of our secondary projects funded by our partner companies Azincourt Energy, Valor Resources, Basin Uranium Corp., Medaro Mining, and Yellow Rocks Energy, as they commence follow-up drilling and exploration programs at these respective projects. Skyharbour is very well positioned to benefit from the accelerating uranium market resurgence with a catalyst-rich year ahead.”

Highlights:

• Hole ML22-07 was drilled within the western part of the Maverick East Zone. It intersected 5.0 meters of unconformity- and basement-hosted mineralization returning 0.13% U₃O₈ starting at 275.9 meters. The mineralization was associated with significant structural disruption and strong alteration of the sandstone and upper basement and anomalous U, with uranium-bearing fractures encountered approximately 25 meters below the unconformity.
  
• Drilling in the newly identified Grid Nineteen area continued to intersect structurally disrupted, altered, and geochemically anomalous sandstone and basement rocks, including variably graphitic pelitic gneisses. All four holes drilled in 2022 showed enrichment in uranium, boron, and other pathfinder elements, with up to 382 ppm U encountered in hole ML22-03 within graphitic pelitic gneisses. A significant unconformity offset was also discovered between holes ML21-07 and ML22-02, which is believed to be related to the strong structural disruption of the sandstone seen in three out of the four holes drilled here in 2022. The results of drilling along the Grid Nineteen conductors continue to be encouraging and further work is recommended to follow up on the anomalous structures along the strike and at depth as the geochemistry, structure, and alteration are suggestive of unconformity-related uranium mineralization in the area. Significant untested targets remain on both conductors in this area.
  
• Drilling in the Viper area continued to show that this part of the Maverick conductive corridor is geochemically anomalous with uranium mineralization of 0.11% U₃O₈ encountered over 1.0 meters in the basement of ML22-05. Anomalous uranium of ≤314 ppm U was also encountered in hole ML22-06.
  
• Substantial portions of the Maverick corridor remain to be systematically drill tested leaving robust discovery potential along strike as well as at depth in the basement rocks. Skyharbour is planning a fully-funded winter drill program which will include follow-up drilling at the Moore Project.

Summary of 2022 Drilling Program:

Drilling on the Moore Uranium Project over the spring of 2022 totaled 2,467 meters in seven diamond drill holes. Four exploratory holes (ML22-01 to -04) were drilled at the Grid Nineteen target conductors, two exploratory holes (ML22-05 and -06) were drilled in the Viper target area, and one hole (ML22-07) was drilled at the Maverick East Zone.

Future drill programs will continue to test targets identified by modeling down plunge of the Maverick East Zone, targets along the Grid Nineteen conductors where anomalous geochemistry and geology have been identified, and test other regional targets at the project where the geochemistry/pathfinders and geology are strongly indicative of potentially uraniferous mineralizing systems.

Maverick East Zone Drilling:

The final hole of the drill program, hole ML22-07 was drilled to test mineralization between historical holes ML-211 (which intersected 8.5m of 0.13% U₃O₈) and ML-212 (which intersected 3.4 m of 0.19% U₃O₈). It successfully intersected 5.0 m of 0.13% U₃O₈ starting at 275.9 m, straddling the unconformity and extending into the basement rocks to a depth of 280.9 m. There is also enrichment in Ni (≤2090 ppm Ni), Cu (≤2250 ppm Cu), Zn (≤4450 ppm Zn), As (≤1510 ppm As), Co (≤399 ppm Co), and V (≤2000 ppm V) associated with the mineralization. The hole contained structurally disrupted and clay altered to replace sandstone, graphitic pelitic gneiss, granitic pegmatite, and Archean granite. The mineralization was also accompanied by anomalous uranium in the entire sandstone column, local boron enrichment (≤2740 ppm B) in the sandstone, and locally elevated pathfinders in the basement, including nickel, arsenic, uranium, vanadium, zinc, and boron. Of note is the existence of fractures containing uranium minerals associated with strong clay and bleaching and uranium (≤413 ppm U), nickel (≤201 ppm Ni), and boron (≤2040 ppm B) enrichment about 30 m below the unconformity at a depth of 304.8 m. This hole further defined this portion of the Maverick East Zone, providing additional information for future drilling.

Grid Nineteen Drilling:

The first four holes of the 2022 drill program were drilled on at the relatively new Grid Nineteen target, approx. 9.5 km NE of the Main Maverick Zone, to follow up on the promising alteration, structure, and geochemistry encountered in holes ML21-07, -08, and -09. The first hole, ML22-01, was testing the up-dip projection of the conductor in hole ML21-09 and appears to have overshot the target since no graphitic units were encountered. The sandstone in hole ML22-01 contained multiple fault zones with local strong chlorite, tourmaline veins, and druzy quartz/pyrite-filled fractures. There is local uranium enrichment and anomalous boron (≥100 ppm B) throughout most of the sandstone with a max of 804 ppm B just above the unconformity. The basement in this hole consisted of variably altered intrusives and pelitic gneiss with local significant boron enrichment (≤2360 ppm B) associated with dravite and quartz veins, faulting, and variable chlorite alteration.

Hole ML22-02 was drilled to test the up-dip projection to the unconformity of the uranium mineralization encountered in hole ML21-07. The sandstone contained prospective structure and alteration associated with an apparent 40 m offset of the unconformity between holes ML22-02 and ML-21-07. The sandstone has local boron (≤1610 ppm B) and uranium (≤14.9 ppm U) enrichment associated with faulting and unconformity. The basement rocks consisted of strongly chloritized psammitic gneiss and anatexite followed by relatively fresh granite and granitic gneiss with local boron (≤485 ppm B) and arsenic (≤32 ppm As) enrichment, as well as U enrichment (≤147 ppm U). The significant unconformity offset between ML21-07 and ML22-02, anomalous mineralization in ML21-07, and prospective alteration and geochemistry are very encouraging as they are common features of uranium deposits in the Athabasca Basin.

Hole ML22-03 was drilled 300 m north of ML22-02 and ML21-07 in order to follow up on the anomalous structure and uranium associated with the Slice Pond structure along the strike. While the sandstone in hole ML22-03 was relatively non-descript, anomalous uranium (392 ppm U) was intersected in the basement at the contact between the graphitic pelitic gneiss conductor and an overlying intrusive unit. The graphitic pelitic gneiss is significantly faulted with variable clay, chlorite, and graphite alteration, and boron enrichment (≤365 ppm B). The top 4.5 m of the underlying Archean granitic gneiss also is strongly sudoite altered.

The final hole drilled in the Grid Nineteen area, ML22-04, was drilled to further test the conductor and unconformity offset between ML21-07 and ML22-02. Hole ML22-04 encountered strong structural disruption of the sandstone below 82.0 m and had uranium and pathfinder element enrichment (≤5.2 ppm Co, ≤10.2 ppm Cu, ≤35.7 ppm Ni, ≤68.8 ppm V, and ≤63.7 ppm Zn) just above the unconformity. Faulted metasediments with strong sudoite/chlorite alteration and local carbonaceous matter were also intersected in the basement. Of note, a strong clay-altered fault zone at the contact between the metasedimentary package and underlying granitoids was enriched in uranium (≤230 ppm U) and other pathfinder elements (≤2040 ppm Ni, ≤1620 ppm Zn, and ≤792 ppm B).

Viper Drilling:

Two holes (ML22-05 and -06) were drilled in the Viper area near historical hole ML-525, which had intersected 4.5 m of uranium mineralization grading 0.23% U₃O₈ at a depth of 289.4 m. The first hole, ML22-05, tested 10 m east of hole ML-525 along strike, and intersected 1.0 m of 0.11% U₃O₈ in a pegmatite with anomalous Mo (≤182 ppm Mo), Pb (≤147 ppm Pb), Th (≤1260 ppm Th), and B (≤147 ppm B). Additional uranium enrichment was present at the unconformity (347 ppm in the 0.5 m immediately below the unconformity) at a depth of 297.7 m. The lower half of the sandstone in ML22-05 is anomalous in uranium in a sandstone composite at 270-280 m and in the basal 0.5 m immediately above the unconformity. Associated with the uranium enrichment is anomalous boron (≤1850 ppm B). The basement rocks in hole ML22-05 also show local pathfinder element enrichment with ≤357 ppm Ni, ≤126 ppm Co, ≤192 ppm Cu, ≤136 ppm As, ≤483 ppm Pb, ≤580 ppm V, ≤200 ppm Zn, ≤315 ppm B.

The second hole, ML22-06, was drilled to follow up on a boron anomaly 20 m north of hole ML-525. Local anomalous uranium (≤314 ppm U) was encountered within the basement cordierite graphitic pelitic gneisses. The graphitic pelitic gneiss also had local pathfinder element enrichment, including elevated B (≤2560 ppm B), Cu (≤736 ppm Cu), Ni (≤442 ppm Ni), V (≤326 ppm), Zn (≤300 ppm Zn), Co (≤168 ppm Co), and As (≤63 ppm As). Associated with the anomalous uranium are sudoite alteration and quartz veining. The sandstone in ML22-06 is only locally structurally disturbed, with a fracture zone from 228.0 m to 232.8 m associated with increased clay and bleaching, but it contained anomalous uranium below 50.0 m depth. There was also local anomalous B (≤771 ppm B) in the sandstone below 210.0 m.

Moore Uranium Project Overview:

In June 2016, Skyharbour secured an option to acquire Denison Mine’s Moore Uranium Project, on the southeastern side of the Athabasca Basin, in northern Saskatchewan and has fulfilled its earn. The project consists of 12 contiguous claims totaling 35,705 hectares located 42 kilometers northeast of the Key Lake mill, approx. 15 kilometers east of Denison’s Wheeler River project, and 39 kilometers south of Cameco’s McArthur River uranium mine. Unconformity-type uranium mineralization was discovered on the Moore Project at the Maverick Zone in April 2001. Historical drill highlights include 4.03% eU₃O₈ over 10 meters, including 20% eU₃O₈ over 1.4 meters, in ML-161. In 2017, Skyharbour announced drill results of 6.0% U₃O₈ over 5.9 meters, including 20.8% U₃O₈ over 1.5 meters at a vertical depth of 265 meters, in hole ML-199. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test with future drill programs. The project is fully accessible via winter and ice roads which simplifies logistics and lowers costs. Large proportions of the property are accessible in the summer as well.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometers east of Denison’s Wheeler River project and 39 kilometers south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of ≤ 6.0% U₃O₈ over 5.9 meters including 20.8% U₃O₈ over 1.5 meters at a vertical depth of 265 meters. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has a joint venture with industry leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments, and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%.

Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares; and private Australian entity Yellow Rocks Energy at the Wallee and Usam Island Uranium Properties whereby Yellow Rocks can earn-in a maximum 80% interest of the properties through AUD $50,000 in cash payments, AUD $4,500,000 in exploration expenditures as well as share issuances over 3 years, subject to TSX-V approval.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favorable jurisdictions.

The upgrade includes the installation of Wärtsilä’s UNIC engine control system, a durable, all-inclusive automation system designed to provide reliable performance in demanding environments. This, together with the added power output, will minimize the risk of outages during the three-month-long peak summer season. The upgrade will also increase efficiency and allow less constant operation of the engines, which in turn will lower emissions of greenhouse gases into the atmosphere.   

“By increasing the load during the peak season, we can increase our operational flexibility since at times we can have one engine on hot standby, instead of running more engines on part load. This will reduce carbon emissions while also generating some cost savings. We appreciate Wärtsilä’s professional approach and support in analyzing our situation and recommending the actions needed by both our O&M provider, PIC Group and Wärtsilä,” said John Seeliger, Regional Energy Manager for Nevada Gold Mines.

“Our lifecycle support includes important upgrade projects, such as this one. Wärtsilä has the capability and experience to apply the latest technologies to extend and modify the power plant’s life and performance in line with the customer’s evolving needs,” commented Jon Rodriguez, Director, Engine Power Plants, North America, Wärtsilä Energy.

The plant operates with 14 Wärtsilä 34SG gas engines. It was originally installed in 2005 with a net output of 115.6 MW. Upon completion of the upgrade, the facility output will be increased to 128 MW. The upgrade will commence in January 2023 and will be carried out in phases to coincide with the plant’s major overhaul schedule. In this way, power production can be maintained to minimize the impact on the mine’s operations.

Nevada Gold Mines is a joint venture between Barrick Gold Corporation, which operates the mine, and  Newmont Corporation which combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world. Both Barrick and Newmont have established Wärtsilä customers with plants in various parts of the world operating with Wärtsilä engines.

Wärtsilä Energy in brief

Wärtsilä Energy leads the transition towards a 100% renewable energy future. We help our customers in decarbonization by developing market-leading technologies. These cover future-fuel-enabled balancing power plants, hybrid solutions, energy storage, and optimization technology, including the GEMS energy management platform. Wärtsilä Energy’s lifecycle services are designed to increase efficiency, promote reliability and guarantee operational performance. Our track record comprises 76 GW of power plant capacity and 110 energy storage systems delivered to 180 countries around the world. https://www.wartsila.com/energy

Wärtsilä in brief

Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasize innovation in sustainable technology and services to help our customers continuously improve their environmental and economic performance. Our dedicated and passionate team of 17,000 professionals in more than 200 locations in 68 countries shapes the decarbonization transformation of our industries across the globe. In 2021, Wärtsilä’s net sales totaled EUR 4.8 billion. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com

The Company has engaged Tigren Inc. (“Tigren”) of Reno, Nevada to provide geological services. Tigren is a comprehensive discovery-focused services company that specializes in advancing under-explored properties through its technical field services. Tigren is controlled by Marco Montecinos, a director of the Company.

Company CEO and Director, Patrick Morris, notes, “Lithium concentrations of 300ppm and above are considered prospective in nature. We are excited to build upon our initial grab sample results, which included a sample with over 1000ppm of lithium, and have our work plan get underway in Nevada. Tigren is scheduled to start the sampling program in early October to support the ongoing mapping program. We’ve got a solid foundation in terms of concept, team, jurisdiction, property, and plans for processing technology solutions to support the growing wave of demand for lithium products. We intend for this to be a busy season ahead as we continue to unearth the value and opportunity of this exciting sector.”

The detailed work program will include an auger sampling program and detailed geological mapping of the project. The objective of the work program is to gain better resolution and further delineate the size, continuity, and shape of near-surface lithium mineralization at the ELi property as well as gain an additional understanding of exploration vectors and geological controls on lithium mineralization. The auger program is planned to optimize sample integrity and representation across the property.

Located in Nevada’s Little Smokey Valley, the ELi property was first sampled in 2019. In June, we shared the current sampling conducted to date. Initial field work by Clear Sky consists of a surface sample dataset covering the property at a 200m x 450m grid and upgrading infill sampling over a historic sampling area. This dataset includes 134 grab samples with results ranging from 45 to 801ppm lithium with an average grade of 292ppm. As previously released, during a site visit during Q2 2022, additional surficial samples (n=4) were collected and ranged in grade from 278ppm to 1,023ppm Li with an average grade of 695ppm Li¹.

The lithium-bearing rocks within the project area are referred to as tuffaceous and other young tertiary sedimentary rocks in digital geologic models generated by the Nevada Bureau of Mines. This unit is believed to have a strong volcanic component. In northern Nye County, the unit is referred to as the Horse Camp Formation which correlates with the Esmeralda Formation in Mineral and Esmeralda Counties. It has also been correlated with older lake beds in southern Nye, Lincoln, Clark, and Humboldt counties. It corresponds to units Ts3 and Tts from the 1978 State map and is present in all counties of Nevada.

Within the state, there are multiple lithium projects in a variety of early-to advanced stages. Nevada currently hosts the only operating lithium mine in the USA. The USGS’s first publication on sedimentary-hosted lithium (claystone lithium) wasn’t until 1991, making it one of the newer deposit types in exploration. On its Eli property, Clear Sky is actively investigating the presence and quality of lithium-bearing sedimentary deposits and their suitability as candidate feedstock for innovative next-generation extraction and processing technologies.

Clear Sky Lithium advises the public that as part of its disclosure obligations as a public issuer, all material and regulatory filings can be found on www.sedar.com. We also invite the public to visit our website at www.clearskylithium.com and to sign up for our “news alerts” to be advised of future news releases and related company information. Please also ensure you watch our video which is now available on the website.

About Clear Sky Lithium Corp.

Clear Sky Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The Company holds interests in the Eli property in Nevada. The Company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner. To find out more visit www.clearskylithium.com and watch our video.

The drilling program at La Loutre was launched on May 15, 2022, with the aim of better defining the deposit, providing the data necessary to increase confidence in the mineral resource, and building on the results of the economic evaluation. positive preliminary for the La Loutre project, as announced in the company’s press release dated July 29, 2021. Lomiko has retained the services of InnovExplo, an independent consulting firm based in Quebec specializing in geology, resource estimation, mining engineering, and sustainable development, to prepare an updated resource estimate in accordance with the NI 43-101 standard for the La Loutre project following the completion of the 2022 drill program. The initial drill program called for up to 18,000 meters in both zones; the late receipt of the permit in May, along with environmental conditions in the spring and summer, resulted in the completion of 13,113 meters.

Belinda Labatte, Chief Executive Officer and Director said: “Results from the 18 holes drilled at the southern end of the VE Zone in 2022 demonstrate strong graphite mineralization over significant widths and confirm the potential of this zone for additional graphite resources. We look forward to more results from the next 35 holes in the VE Zone to be released as more assays are received. Our vision is to become a responsible operator and be part of a climate success story in southern Quebec.

Highlights:

• Strong graphite results from 8 additional holes drilled in the southern extension of the “Electric Vehicle” or “EV” zone (results from the first ten holes were published in the September 8 press release).
• Large zones of flake graphite mineralization including 2.76% Cg (graphitic carbon) over 99.0 m from 30.5 to 129.5 m in hole LL-22-014 including zones 15 and 25 wide, 5 m at 4.95 and 4.55% Cg respectively.
• Broad intervals of near-surface high-grade flake graphite mineralization comprising 11.64% Cg over 42.0 m from 7.0 to 49.0 m in hole LL-22-018, including mineralization of 36m wide at 13.44% Cg.
• The second best result was achieved in hole LL-22-023 at 14.86% Cg from 126.0 to 132.0 meters.
• Many intersections remain open; additional test results are pending.
• Drill assay results confirm the potential for expansion of the VE Zone graphite mineralization to the south.

Drilling at the southern end of the VE Zone was carried out to confirm the results of previous drilling campaigns and to test the southward extension of the graphite mineralization. Please refer to Table 1 for the weighted average graphitic carbon-bearing drill intersections (not actual thickness) and Table 2 and Figure 1 for the collar locations of the eight holes completed in the south end of the VE Zone as discussed in this press release. These results are in addition to the analytical results of ten drill holes announced in Lomiko’s September 6, 2022 press release.

With the exception of hole LL-22-017 which was abandoned due to technical difficulties, all holes mentioned in this news release intersected broad zones of moderate to high-grade flake graphite mineralization near the surface. The thickest intersection was 2.76 percent graphitic carbon (“%Cg”) over 99.0 meters (“m”) from 30.5 to 129.5 m in hole LL-22-014. The highest grade intersection was 11.64% Cg over 42.0m from 7.0 to 49.0m in hole LL-22-018. Additional sampling has been completed and assays are pending to fully close these intervals.

Qualified person

The technical content presented in this press release has been reviewed by Mark Fekete, P.Geo., who has actively participated in the La Loutre drilling program as an independent consultant to the Company, as a “qualified person” within the meaning of National Instrument 43-101 Disclosure for Mining Projects.

QAQC and analytical procedures

The drill core was recorded and marked for sampling by a professional geologist. All cores were photographed as part of the registration process. Core samples were collected by dividing each sampling interval in half lengthwise using a hydraulic core splitter. One half of the interval was returned to the core box, and the other half was placed in a plastic bag with a label. The tag number was stamped in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie wrap. Certified standard reference material and a blank were included in each batch of 21 samples. For the expedition, samples were placed in individually sealed rice bags with numbered, tamper-evident security tags. The bags of rice were then placed on wooden pallets, secured with plastic wrap, and delivered by truck to Manitoulin Transport Inc. for shipment to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario.

At Actlabs, samples were ground to 80% through 2mm, then riffled into a 250g subsample that was pulverized to 95% through 105μm (Actlabs Code RX1). Pulp samples were then analyzed for graphitic carbon (Cg) by mild hydrochloric acid digestion followed by combustion in an infrared induction furnace (Actlabs Code 8Cg). Actlabs is accredited to ISO 9001:2015 registration and is independent of the Company.

About Lomiko Metals Inc.

Lomiko Metals has a new vision and new energy strategy. Lomiko is a company with a purpose: a company where people come first and where we can create a world of abundant renewable energy with critical Canadian and Quebec minerals for a solution in North America. Our goal is to create a new energy future in Canada, where we will develop the workforce in critical minerals, where we will become a valued partner and neighbor of the communities in which we operate, and where we will provide a supply of safe and responsible in critical minerals.

In addition to La Loutre, Lomiko is working with Critical Elements Lithium Corporation to secure its 70% interest in the Bourier project, pursuant to the option agreement announced on April 27, 2021. The Bourier Project site is located near Nemaska ​​Lithium and Critical Elements in the southeast of the James Bay Territory of Eeyou Istchee in Quebec which consists of 203 claims, for a total land position of 10,252.20 hectares (102 .52 km2), in the lithium triangle of Canada near the James Bay region of Quebec which has historically hosted lithium deposits and mineralization trends.

About the La Loutre Graphite Project

The Company holds a 100% interest in its La Loutre graphite development project in southern Quebec. The La Loutre project site is located on the territory of the Kitigan Zibi Anishinabeg First Nations (KZA). The KZA First Nations are part of the Algonquin Nation and the KZA territory is located in the Outaouais and Laurentides regions. Located 180 kilometers northwest of Montreal, the property consists of a large continuous block comprising 48 mining claims totaling 2,867 hectares (28.7 km2).

The property is underlain by rocks belonging to the Grenville Province of the Precambrian Canadian Shield. The Grenville formed under conditions very favorable for the development of coarse flake graphite mineralization from organic-rich materials during high-temperature metamorphism.

Lomiko Metals released a Preliminary Economic Estimate (PEE) on July 29, 2021, indicating that the project had a 15-year lifespan and produced 100,000 tonnes of 95% Cg graphite concentrate annually, a total of 1, 5 Mt of graphite concentrate. This report was prepared as a NI 43-101 compliant technical report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc, Hemmera Envirochem Inc, Moose Mountain Technical Services, and Metpro Management Inc, collectively the authors of the report.

For more information about Lomiko Metals, visit www.lomiko.com.

Ameriwest further announces the State has also approved the second Geologic Field Operation Plan for the Thompson Valley property. This approved plan allows for an expanded surface sampling program with subsequent laboratory assays. The initial plan was limited to 50 samples, and the new plan allows additional sampling, expected to be approximately 300 samples. The continued surface sampling and assays will allow Ameriwest to expand upon its positive results announced last month wherein significant lithium concentrations were discovered.

David Watkinson, President, and CEO of Ameriwest stated, “After a highly successful initial surface sampling program at our Thompson Valley property which led to the discovery of surface or near surface lithium bearing clays, we are moving forward with an expanded surface sampling program that will allow Ameriwest’s technical team to better characterize this sedimentary clay deposit. The data from the expanded surface sampling program will be used to define drill targets and allow the Company to move forward with permitting process for a drill program. The goal of the drilling program will be to determine the depth of lithium-bearing strata and to start the process of delineating potential lithium resources on the property, subject to exploration success.”

Ameriwest also announces it has completed and filed NI 43-101 Reports for each of the ESN Gold projects in Nevada and the Koster Dam Gold project in Central British Columbia. These gold projects form the assets of Ameriwest’s wholly owned subsidiary, ISM Resources Corp. (“ISM”). Ameriwest announced on July 11, 2022, that it had received approval from the Supreme Court of British Columbia for a statutory Plan of Arrangement, pursuant to which Ameriwest and ISM will separate into two independent companies. Ameriwest will continue to trade on the Canadian Securities Exchange (the “CSE”) and ISM is applying to have its common shares listed for trading on the CSE. Assuming that the remaining conditions for closing are satisfied and the necessary regulatory approvals are obtained, it is expected that the closing of the Plan of Arrangement will be completed in the third quarter of 2022.

Greg Bell, P.E. (Arizona), a qualified person under the NI 43-101 instrument, has reviewed and approved the technical content of this release. Note no mineral resources or reserves have yet been delineated on the Thompson Valley Property that meet National NI 43-101 Standards of Disclosure for Mineral Projects or CIM Definition Standards.

Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates on ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field, as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.

About Ameriwest Lithium Inc.

Ameriwest Lithium Inc. is a Canadian-based exploration company focused on identifying and developing strategic lithium clay and brine mineral resources in Nevada and Arizona. The Company is currently exploring its 6,900-acre Thompson Valley lithium clay property in Arizona. In Nevada, it is exploring its 15,300-acre Railroad Valley lithium brine property, its 22,210-acre Edwards Creek Valley lithium brine property, its 5,760-acre Little Smoky Valley lithium clay property, and its 7,380-acre Deer Musk East lithium brine property.

For more information visit: https://ameriwestlithium.com/.

Snow Lake Lithium’s planned all-electric lithium mine is perfectly placed to enable the domestic supply of this critical resource to North American automotive manufacturers from 2025.

Philip Gross, CEO of Snow Lake Lithium said, “As we rapidly transition to electrification, it’s essential for the future of the North American automotive industry that we build a rock-to-road battery supply chain

“Local sourcing of critical raw materials, such as lithium, is the only logical step to create a vertically integrated domestic supply chain. Snow Lake Lithium has access to a rich lithium resource and is on the doorstep of North American manufacturers. This is enough lithium to power 500,000 electric vehicles a year produced in North America, which would significantly reduce logistics and emissions that would be created by importing raw materials from China.”

Based in Manitoba, Canada, Snow Lake Lithium is developing the world’s first all-electric lithium mine to enable the domestic supply of this critical resource to the North American electric vehicle industry.

Snow Lake Lithium is ideally located to serve the North American automotive industry with access to the US rail network via the Arctic Gateway railway, which reduces transportation from thousands of miles by road and boat to just several hundred by train.  

To enable the seamless integration of the supply chain, Snow Lake Lithium plans to establish a joint venture to create a lithium hydroxide processing plant and is seeking a partnership with an automotive OEM or a battery manufacturer to deliver this. The proposed plant will be located in CentrePort Canada in Southern Manitoba and a scoping study is underway to identify the most effective approach to deliver a world-class lithium hydroxide plant within the Manitoba Province.

Snow Lake Lithium’s 55,000-acre site is expected to produce 160,000 tonnes of 6% lithium spodumene a year over a 10-year period. Currently, Snow Lake Lithium has explored approximately 1% of its site and is confident that further exploration will increase estimates over the course of the next year. Snow Lake Lithium’s planned mine will be operated by almost 100% renewable, hydroelectric power to ensure the most sustainable lithium manufacturing approach.

Over the coming months, Snow Lake Lithium will continue its engineering evaluation and drilling program across its site, with the expectation that mining operations, will transition to commercial production targeted for 2025.

About Snow Lake Resources Ltd.

Snow Lake Lithium is committed to creating and operating a fully renewable and sustainable lithium mine that can deliver a completely traceable, carbon-neutral, and zero-harm product to the North American electric vehicle and battery markets. We aspire to not only set the standard for responsible lithium mining, but we intend to be the first lithium producer in the world to achieve Certified B Corporation status in the process.

Our wholly-owned Thompson Brothers Lithium Project now covers a 55,318-acre site that has only been 1% explored and contains an identified-to-date 11.1 million metric tonnes indicated and inferred resource at 1% Li₂O.

www.SnowLakeLithium.com

In addition to its flagship Great Atlantic Salt Project, approximately 25 km south of Stephenville, Atlas owns 100% of the Fischell’s Brook salt deposit, Newfoundland and Labrador’s only known salt dome with clean hydrogen storage potential. Fischell’s Brook is part of a 226 sq. km land package outside of Great Atlantic on the west coast of Newfoundland, including 75 sq. km of claims covering Stephenville and the surrounding area, that forms the planned upcoming Atlas spinout of Triple Point Resources Ltd.

Mr. Patrick Laracy, the Atlas CEO, commented: “We have long recognized the enormous environmentally friendly resource potential of the west coast of Newfoundland. The Hydrogen Accord is expected to be signed later today between Canada and Germany, and the location of this signing ceremony (Stephenville), validates the prolific opportunities in this district with Atlas owning two key advanced projects and a highly prospective exploration ground. Unlocking the full value of Fischell’s Brook and other non-Great Atlantic salt assets is best accomplished through the proposed strategic spinout of Triple Point at a highly favorable share distribution ratio.”

Spinout Highlights:

• Atlas shareholders are reminded that a Special AGM will be held Wednesday, August 31, 2022, to vote on the proposed Plan of Arrangement as per an information circular posted on SEDAR and mailed to Atlas Salt shareholders;
• Subject to receipt of Atlas shareholder, regulatory, and court approvals, the Date of Record for the distribution of 23,750,000 Triple Point shares will be on or about September 21, 2022. All Atlas shareholders qualify to receive one Triple Point share for approximately four Atlas shares owned as of the Date of Record;
• Triple Point has applied to list its common shares on the CSE following the completion of the Plan of Arrangement, and Atlas Salt will continue to hold a significant ownership position in Triple Point.

About Atlas Salt

Atlas Salt owns 100% of the Great Atlantic Salt Project strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource. Atlas Salt also owns the Fischell’s Brook salt dome and other mineral licenses on the west coast of Newfoundland, forming the proposed spinout of Triple Point Resources Ltd.

The order with Wärtsilä was placed by Sabodala Gold Operations and it has been booked in Wärtsilä’s order intake in Q3 2022. The project will be delivered under a complete engineering, procurement, and construction (EPC) contract.

The Sabodala-Massawa mine is the largest producing gold mine in Senegal and is located in the eastern part of the country in the Kedougou region. Endeavor’s planned mine expansion will transform Sabodala-Massawa into a top-tier gold asset with incremental production.

“Wärtsilä has a depth of experience in delivering power solutions for mining operations around the world. Not being connected to the grid means that the captive plant has to be capable of providing a reliable supply of electricity at all times, since no power equals no production. The Wärtsilä 32 engines selected for this expansion project have established a strong reputation for high efficiency and reliability under even the most difficult ambient conditions, eliminating revenue losses from power shortages,” said Marc Thiriet, Energy Business Director, Africa West, Wärtsilä.

The three Wärtsilä 32 engines to be installed are 20 percent more fuel efficient than the plant’s existing engines. Their fuel efficiency minimizes the environmental impact by reducing harmful CO2 emissions. In addition to their outstanding performance, they have the flexibility to support a smooth transition to the integration of solar power and energy storage into the system. The upgrade of the electrical and automation system will optimize the interconnection and control of the existing power plant with the extension.

The project is expected to be completed and commissioned before the end of 2023.

Wärtsilä is Senegal’s leading provider of power generating equipment, and already has 543 MW of installed capacity in altogether 20 power plants in the country. 458 MW of this capacity is under Wärtsilä long-term service agreements.

Wärtsilä in brief

Wärtsilä is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. We emphasize innovation in sustainable technology and services to help our customers continuously improve their environmental and economic performance. Our dedicated and passionate team of 17,000 professionals in more than 200 locations in 68 countries shapes the decarbonization transformation of our industries across the globe. In 2021, Wärtsilä’s net sales totaled EUR 4.8 billion. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com

Wärtsilä Energy in brief

Wärtsilä Energy leads the transition towards a 100% renewable energy future. We help our customers in decarbonization by developing market-leading technologies. These cover future-fuel-enabled balancing power plants, hybrid solutions, energy storage, and optimization technology, including the GEMS energy management platform. Wärtsilä Energy’s lifecycle services are designed to increase efficiency, promote reliability and guarantee operational performance. Our track record comprises 76 GW of power plant capacity and 110 energy storage systems delivered to 180 countries around the world. https://www.wartsila.com/energy

• Expanded Temperature Range for year-round, all-weather performance
  • Excellent cold weather pumpability in sub-zero/arctic operations
  • Excellent extreme high temperature and severe service performance
• Maximizes Equipment Life in Severe Service
  • The advanced additive system minimizes wear in heavily loaded gears and bearings
  • Keeps metal parts free of varnish and sludge
  • Improved protection against wear, rust, and corrosion
• Holds up Longer for Extended Service Intervals
  • Outstanding oxidation resistance at high temperatures for longer oil life
  • Excellent filterability under the ISOCLEAN® Certified Lubricants program
  • Stability during storage periods

“We’re excited to introduce Delo TorqForce Syn FD-1 designed to maximize productivity and reliability of large mining haul trucks and support equipment,” Jason Gerig, Chevron Lubricants Commercial Sector Manager shared. “Chevron strives to provide lubricants with proven performance through rigorous testing for the mining industry. Results for Delo TorqForce Syn FD-1 showed excellent gear wear protection and very strong oxidation control with minimal varnish to extend service intervals from the standard 4,000 hours to 6,000 hours and well beyond.”

About Chevron Products Company

Chevron Products Company is a division of an indirect, wholly-owned subsidiary of Chevron Corporation (NYSE: CVX) headquartered in San Ramon, CA. A full line of lubrication and coolant products are marketed through this organization. Select brands include Havoline®, Delo®, and Havoline Xpress Lube®. Chevron Intellectual Property LLC owns patented technology in advanced lubricants products, new generation base oil technology, and coolants.

The Kena Property hosts several gold mineralized zones, most notably the Kena Gold and Gold Mountain Zones included in the recent resource estimate hosting 2.77 million ounces of gold inferred and 0.56 million ounces of gold indicated at 0.25 g/t cutoff (see News Release dated May 11, 2021). 3D modeling and imagery have identified drill targets for expansion to the north and northwest of the open-ended gold resource in the Gold Mountain Zone. Gold in the resource area consists of high-grade shoots surrounded by broad envelopes of disseminated gold mineralization (see News Release dated March 16, 2022). The initial 2022 diamond drilling will consist of 10 drill holes in this expansion location.

“We are pleased to be commencing our drill program on the Kena Project. Along with anticipated results from the fully funded 2022 program and taking in the fact that the successful 2021 season results are still to be assimilated into the resource calculations, the Company is well-positioned to expand upon the previously defined gold resource. Our experienced geological and drilling crews give us a strong probability for success,” states Nicholas Houghton, CEO of West Mining Corporation.

Coincident with the ongoing diamond drilling program, metallurgical test work is currently being completed by Bureau Veritas Commodities Canada Ltd, Metallurgical Division with results anticipated soon.

Linda Dandy, P.Geo., a “Qualified Person” for the purpose of National Instrument 43-101, has reviewed and approved the contents of this news release.

About West Mining Corp.

West Mining Corp. is a mineral exploration company acquiring and developing advanced and prospective early-stage exploration projects.  It is fully focused on its 100% owned, 9000-hectare Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties:  Kena, Daylight, and Athabasca.  A recent NI43-101 resource estimate for Kena gave 561,900 oz Au indicated and 2,773,100 oz Au inferred in the Gold Mountain, Kena Gold, and Daylight Zones. The Kena Property also hosts the large Kena Copper Zone, along with with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene, and Great Eastern gold mines.  Along trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine.  The historic mines and known mineralized zones on these three properties are structurally controlled along a 20-kilometer strike as identified by strong geophysical signatures.

To create the app, a variety of data sets were combined, including LiDAR, GIS, CAD, and underground measurements to create these presentations. Three-dimensional “table-top” models set the scene for users, followed by a comprehensive under¬ground view of the former mining operation showing the stopes which store the arsenic trioxide and the engineering solution that has been proposed to contain it. This is followed by a depiction of a rising water table and its limited potential to interact with the arsenic due to the frozen ground. Finally, users are transported to the year 2040, and a view of the reclaimed site, complete with restored creeks, covered tailings ponds, and a new water treatment plant. All of this is done using augmented reality (AR) on the users’ devices to best depict the scope and scale of the issues at hand. The new app is free for all Canadians to download (for both iOS and Android phones and tablets), and demonstrates the issues, remediation objectives, and planned outcomes for this substantial undertaking.

“Having worked with CIRNAC over the past few years to create holographic visualizations of their project data, we are proud to partner with them to create this app that we feel will be of interest to a many Canadians, as we are all stakeholders in this project,” says Gerald Magnusson, Head of Product for Clirio.

The $1 billion-dollar (CAD) Giant Mine Remediation Project is co-managed by the Government of Canada and the Government of Northwest Territories and involves the cleanup of abandoned gold mines within the municipal boundaries of Yellowknife, NWT. In 1999, the mine stopped operating and Canada became the site custodian, attention focused on the environmental issues left behind. The most notable is the 237,000 tonnes of arsenic trioxide, a byproduct of the gold mining operations, stored in underground chambers.

This technically complex remediation plan requires the understanding and acceptance of many rights holders and stakeholders, including engineers, government officials, and the public. This information can be difficult to clearly explain to non-technical individuals. As public engagement is a critical component of this process, a more effective communication method was required to show how the mitigation plans are going to be implemented. This needed to be done in a way that allowed all parties to make decisions based on data and science.

The app was created to help community members, government officials, and other rights holders and stakeholders share a common understanding of the challenges and solutions related to this project. They can view inaccessible underground areas with both safety and visual clarity and can see all aspects of the project. Clirio’s work gives CIRNAC a new tool that can help support a meaningful public engagement process in an efficient way that helps avoid unnecessary costs and delays, moving towards approval of the project and mitigation of the risk to the community.

The app is currently available to download for free from the Apple App or Google Play stores. Simply search “Giant Mine Remediation” in your choice of app store.

About Clirio:

Clirio, Inc. builds software for the new world of holographic 3D workflows, from laser scanning to VR/AR collaboration, with a focus on geospatial and geoscience applications. Clirio has done extensive work for various U.S. and Canadian government agencies and corporate clients around extended reality visualization of geospatial data, 3D virtual remote collaboration, digital twinning, and holographic training. Clirio is headquartered in Vancouver, Canada.

Together they will deploy the Focus FS Emergency Response software at over 30 operating mining sites across the province, which will provide each mine with the next generation of mine rescue technology.

“This partnership demonstrates everyone’s commitment to continuously improving mine rescue safety and emergency preparedness,” said Rob Clark, Managing Director at Dräger Canada. “By supporting dynamic collaborations such as this one with Focus FS and OMR, we can continue being mine safety leaders in Ontario and around the world.”

The Focus FS Emergency Response software replaces more traditional methods with digital communication and reporting tools used by rescue teams and surface personnel during active emergencies, training, and ongoing improvement.

“We’re using leading-edge technology to strengthen mine rescue best practices,” said Jeffrey Brown, Focus FS President, and CEO. “By vastly improving how critical information is collected and communicated in real-time, mine rescue teams can better respond to any incident – ultimately helping to save lives.”

The Focus FS Emergency Response software was developed in partnership with the industry-led by OMR.

“Our highest priority is the safety of those mine rescue responders we are sending back into the hazardous conditions of a mine emergency,” said Ted Hanley, Vice-President with Ontario Mine Rescue.

“The mine rescue communications platform provided by Focus FS will be used as a critical tool to ensure timely, accurate information is relayed and available to mine rescue teams and mine management – ensuring they make the safest decisions possible in the shortest amount of time.”

The software was introduced at the 2016 International Mines Rescue Competition and is now available for mines across the globe.

About Dräger

Turning technology into “Technology for Life.” Founded in Lübeck in 1889, Dräger has grown into a worldwide, listed enterprise in its fifth generation as a family-run business. Dräger has more than 15,000 employees worldwide and is present in over 190 countries around the globe. In 2021, the company generated net sales of around EUR 3.34 billion. Please visit our website for more information. To learn more, visit us on Twitter @DraegerNews, LinkedIn, YouTube, and Facebook.

About Focus FS

Since 2012, Focus FS has worked with industrial organizations to enable safety excellence through smart operations. Their software-as-a-service platform offers advanced solutions for safety reporting, asset management, emergency response, and more. In 2019, Focus FS partnered with Dräger to help workplaces around the world improve safety and achieve zero harm. For more information, visit our website. To learn more about us, visit Twitter @FocusFS, LinkedIn, Instagram, and Facebook.

About Ontario Mine Rescue

Please visit the Ontario Mine Rescue website.

With demand for electric vehicles growing rapidly, the global automotive and energy storage industries will be competing to access raw materials, especially lithium, which is a crucial component of batteries. As a global mining powerhouse, Canada is perfectly placed to meet this increasing global demand for critical minerals such as lithium.

Led by Dr. Mostafa Fayek from the University’s Faculty of Environment, Earth, and Resources, the two-year research project between Snow Lake Lithium and the University of Manitoba will provide considerable insights into the Company’s critical mineral inventory and most effective exploration strategies to extract lithium from the Company’s Thompson Brothers’ site in the future.

Philip Gross, Chief Executive of Snow Lake Lithium said, “We are delighted to be collaborating with world-class academics and students from the University of Manitoba and leveraging their extensive experience in this area. The research will provide us with significant information about the mineralogy across our site which, we believe will have a meaningful impact upon the development of our future operations to ensure domestic supply chain and energy security for the North American electrified vehicle industry.”

“We are looking forward to building a strong relationship with the University over the coming years and, alongside this research project, we are exploring opportunities to create a joint analysis laboratory to reduce the time needed to complete both exploration and production analysis in the future.”   

Dr. Mostafa Fayek, from the University’s Faculty of Environment, Earth, and Resources, said, “This exciting project gives our students the opportunity to gain real-world experience alongside Snow Lake Lithium’s experienced geologists. We hope that our research will deliver significant information about the mineral inventory as well as identify a geochemical fingerprint for the lithium-rich pegmatites found across Snow Lake Lithium’s site which will help Canada establish its position at the forefront of lithium mining.”

Based in Manitoba, Canada, Snow Lake Lithium is developing the world’s first all-electric Lithium mine to enable the domestic supply of this critical resource to the North American electric vehicle industry.

Snow Lake Lithium is ideally located to serve the North American automotive industry with access to the US rail network via the Artic Gateway railway, which reduces transportation from thousands of miles by road and boat to just several hundred by train.

Snow Lake Lithium’s 55,000-acre site is expected to produce 160,000 tonnes of 6% lithium spodumene a year over a 10-year period. Currently, Snow Lake Lithium has explored around 1% of its site and is confident that further exploration will increase estimates over the course of the next year. Snow Lake Lithium’s mine will be operated by almost 100% renewable, hydroelectric power to ensure the most sustainable manufacturing approach.

Over the coming months, Snow Lake Lithium will continue its engineering evaluation and drilling program across its Thompson Brothers Lithium Project site, with the expectation that mining operations will transition to commercial production in late 2024.

About Snow Lake Resources Ltd.

Snow Lake Lithium is committed to creating and operating a fully renewable and sustainable lithium mine that can deliver a completely traceable, carbon-neutral, and zero harm product to the North American electric vehicle and battery markets. We aspire to not only set the standard for responsible lithium mining, but we intend to be the first lithium producer in the world to achieve Certified B Corporation status in the process.

Our wholly-owned Thompson Brothers Lithium Project now covers a 55,318-acre site that has only been 1% explored and contains an identified-to-date 11.1 million metric tonnes indicated and inferred resource at 1% Li₂O.

About the University of Manitoba – University to provide boilerplate: 

The University of Manitoba is western Canada’s first university, established in 1877, and located on the original lands of Anishinaabeg, Cree, Oji-Cree, Dakota, and Dene Peoples, and in the homeland of the Métis Nation. The university is Manitoba’s only research-intensive university, and one of the country’s top research institutions. There are more than 31,000 undergraduate and graduate students, and more than 181,000 alumni living in 139 countries. To learn more about University, please visit https://www.umanitoba.ca/about-um

The Department of Earth Sciences at the University of Manitoba offers a range of undergraduate and graduate programs in Geology and Geophysics.  It has a well-established national and international research reputation with strengths in geochemistry, mineralogy, sedimentary geology, and paleontology. Within the department, the Manitoba Isotope Research Facility (MIRF) has over $10 million of equipment housed in major, multi-user laboratories.  To learn more about MIRF, please visit https://www.manitoba-isotope-research-facility.com/.

In today’s competitive environment, an effective strategy of control technology upgrades can help manufacturers reduce asset ownership costs, increase production rates, manage risks, extend the life and performance of systems and improve responses to changing customer demands.

“The C300PM is intended for industrial operations employing the proven Enhanced High-Performance Process Manager (EPHM), which integrates the control environment of the legacy TotalPlant™ Solution (TPS) and TDC 2000/3000 systems,” said Pramesh Maheshwari, vice president & general manager, Honeywell Process Solutions, Lifecycle Support Services. “The C300PM is ideal for customers who have asked for the EHPM to have the same functionality as the best-in-class C300 when developing their control migration plans, as well as users with a mixture of EHPMs and C300s who want to unify their controller platform.”

With the C300PM, companies undertaking plant renovations or unit expansions can upgrade their controller installed base with a solution that provides a common engineering environment and eliminates the need to completely replace existing hardware.

The C300PM employs Honeywell’s deterministic Control Execution Environment (CEE) to execute control strategies on a constant and predictable schedule. The CEE is loaded into the C300PM controller, providing the execution platform for a set of automatic control, logic, data acquisition, and calculation function blocks.

By modernizing the C300PM, EHPM users no longer need to obtain an additional controller to obtain the same level of performance as the C300 controller in demanding applications such as blending and batch processing. They can take advantage of increased processing speed for their critical control loops. Peer-to-peer communications between different generations of controllers help to optimize overall system performance. In addition, the C300PM utilizes Honeywell’s Custom Algorithm Block (CAB) functionality, which leverages user-defined algorithms and data structures to greatly reduce the effort required to create complex control strategies.

The C300PM also incorporates the Experion PKS I/O Highly Integrated Virtual Environment (IO HIVE). This technology provides a fault-tolerant, high-speed field network allowing the controller to communicate with distributed Honeywell Universal I/O (UIO) and Series C I/O. The controller also supports many leading industrial communication protocols, including Peer Control Data Interface (PCDI), Profinet, EtherNet/IP™, OneWireless™, FOUNDATION Fieldbus™, and Profibus.

With Honeywell’s assistance, EHPM users can take advantage of a familiar migration technique to C300PM, which allows them to preserve their valuable legacy systems without having to deal with issues such as rewiring, system reconfiguration, and graphics migration. Migration can be completed without the need for a shutdown to install new controllers. Conversely, plants that have not installed the EHPM can go directly from the High-Performance Process Manager (HPM) to the powerful and robust features of the C300PM as part of a simple on-process migration.

About Honeywell

Honeywell Process Solutions (process.honeywell.com) is a pioneer in automation control, instrumentation, and services for the oil and gas; refining; energy; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals, and mining industries. It is also a leader in providing software solutions and instrumentation that help manufacturers find value and competitive advantage in through Honeywell Connected Plant, Honeywell’s Industrial Internet of Things (IIoT) solution. Process Solutions is part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell UOP (uop.honeywell.com), a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

“I am very excited to see Tahuehueto commencing pre-production activities and look forward with anticipation to our first concentrate deliveries, anticipated in several weeks, which will bring our Company its first revenue from the new, on-site Tahuehueto mineral processing facility” states Ralph Shearing, CEO, “The Tahuehueto gold mine coming on-line is the realization and delivery to shareholders of the Company’s major goal of reaching production on its flagship asset. The robust cash flows anticipated from Tahuehueto should allow us to accelerate our debt repayments; our cash flow modeling suggests all loan debt may be repaid in under two years. We will also re-initiate exploration activities to expand reserves and resources, which exploration I am convinced, can unlock the hidden, undiscovered ultimate potential of this district-scale project allowing mine expansion and extension to the current life of mine.”

Tahuehueto’s processing facility is operational allowing for milling up to 500 tpd with flotation cells, concentrate thickeners and concentrate filters successfully tested and operational.

During the commissioning phase of the first ball mill, a bulk concentrate will be produced, and as soon as possible thereafter, the Company will process a separate precious metal-rich lead concentrate and a zinc concentrate. Copper concentrate production is planned to be initiated in late 2022.

Electrical power generation is being supplied by Aggreko International Power Projects Limited which has installed power generation equipment capable of supplying power to the mining unit for 1,000 tpd sustained production. The water pumping system and the pipeline are operational to supply processing water to the mine at its full planned capacity of 1,000 tpd.

The Company has stockpiled over 29,000 tonnes of ore to be used in the commissioning process and pre-production phases of the 1^st ball mill. As soon as the process plant completes its start-up commissioning phase and has been optimized for maximum recoveries and throughput, a higher grade run of mine ore will begin to be processed to maximize revenues during the pre-production phases of the mine.

Altaley’s underground mining contractor has developed access to four stopes, two on the El Creston structure and two on the Perdido structure, providing multiple working faces more than fully capable to supply adequate mill feed for the mine’s start-up 500 tpd phase. Underground development is continuing and will soon provide access to 2 additional stops on Perdido and four additional stops on El Creston at lower elevations and thereby will have complete access to at least 10 mining stopes capable of supplying mill feed to the 1,000 tpd operation upon completion of construction as described below.

The remaining construction to advance the mine to its planned full production capacity of 1,000 tpd is as follows:

2^nd Ball Mill installation

Installation of the second 500 tpd ball mill to increase milling capacity to 1000 tpd is planned to be completed in Q3, 2022. Necessary equipment has been acquired, the majority of which is stored on-site or in the Company’s Durango warehouse.

Crushing Circuit

Initial crushing is being handled with a temporary crusher, fully capable of continually feeding the 500 tpd ball mill, while the Company completes construction of the mine’s permanent crushing circuit, which will contain a primary jaw crusher and secondary cone crusher with associated vibrating screens and storage hoppers. All crushing equipment is on-site or in the Company’s Durango warehouse ready for installation. The permanent crushing circuit is approximately 50% complete and expected to be completed during June 2022.

Tailings Thickener and Dewatering

The tailings thickener is functional and tailings filter presses for dewatering are scheduled for installation over the next several weeks to be operational during June 2022. Temporary tailings storage is available to accept pre-production tailings until the formal dry stack tailings storage facility is ready to accept dewatered tailings, which is expected by the end of August 2022.

About Altaley Mining Corporation

Altaley Mining Corporation is a Canadian-based mining company with two 100% owned Mexican gold, silver, and base metal mining projects.

Altaley’s Tahuehueto mining project is in north-western Durango State, Mexico where construction has been advanced to near completion on its 1,000 tonnes per day processing facility and related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at Tahuehueto. The Company is targeting initial pre-production in May 2022 and ramping up to full production capacity during Q3-Q4 2022.

Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average of 2,200 tonnes per day and is currently estimated to be Mexico’s 6th largest zinc producer.

 Visit: www.altaleymining.com

Davidson River – Spring/Summer 2022 Drill Program

The Company has mobilized to begin the fourth drill campaign on its flagship Davidson River Project. The 25,886-hectare Davidson River Project is situated in the Southwest Athabasca Uranium District of Saskatchewan and contains the significant untested blue-sky potential for a high-grade basement-hosted uranium discovery. The upcoming program is expected to comprise approximately 5,000 meters in 13 drill holes.

The spring/summer drill program will follow up on the most prospective basement structures and alteration zones intersected to date and begin testing new target areas along with the four major exploration trends on the Project. Several kilometers of graphitic conductors remain to be tested at Davidson River, and the basement rocks of the Thunderbird trend remain unexplored to date. Two years of exploration of the Project (2020-2021 drilling) have confirmed lithological and structural parallels between the uranium-fertile Patterson Lake corridor and the Davidson River conductive trends, bolstering the Company’s confidence in the continued exploration of the Project.

Jon Bey, CEO, and Chairman commented:

“We look forward to beginning our fourth drill program at our flagship Davidson River Project. Our team of geologists is determined to demonstrate this season of drilling will be our best to date. Drill targeting will be focused on the southeast portions of the Bronco and Warrior conductors, and we will test the Thunderbird conductor for the first time. I am excited to see the drills turning again at our Davidson River Project, with the goal of proving to investors that patience will be rewarded.”

About Standard Uranium

We find the fuel to power a clean energy future.

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. Davidson River is highly prospective for basement-hosted uranium deposits yet remains relatively untested by drilling despite its location along with trends from recent high-grade uranium discoveries. A copy of the NI 43-101 technical report titled “Updated Technical Report on the Davidson River Property, Northwest Saskatchewan, Canada” with an effective date of March 16, 2020, that summarizes the exploration of Davidson River is available for review under Standard Uranium’s SEDAR profile (www.sedar.com).

The diamond drill holes targeted copper-gold porphyry-style mineralization in the Kena Copper Zone, readily identified by a 2,500 x 1,000-meter strong copper soil geochemical anomaly. The Kena Property hosts a large porphyry system consisting of a gold-rich core surrounded by a broad halo with a copper-gold signature.

Figure 1 – Kena Project – Gold Soil Geochemistry

Figure 2 – Kena Project – Copper Soil Geochemistry

Within the central core area of the Kena Property, the Gold Mountain and Kena Gold Zones contain a combined resource estimate with 561,900 ounces of gold indicated and 2,773,100 ounces of gold inferred (Bird, 2021; NI 43-101 Technical Report on the Kena and Daylight Properties; see News Release dated May 11, 2021). The gold zones are opened ended and have expansion potential in the north, west, and south – where historic drilling in the South Gold Zone intersected 0.9 g/t gold over 90 meters (BC ARIS Report 27240).  

Adjacent to the gold resource area and gold geochemical anomalies are large coincident induced polarization chargeability and copper soil geochemical anomalies. Drilling earlier in 2021, to the northwest near the Starlight showing, discovered a new zone that returned a 53-meter drill intercept which averaged 0.51% copper equivalent (see News Release dated January 12, 2022). The Dighem copper anomaly, immediately to the east of the Gold Mountain Zone will be drill tested as part of the 2022 exploration program. This anomaly was first identified during an airborne magnetic survey (flown by a company known as “Dighem”) and later followed up with soil geochemistry and induced polarization ground surveying.

2021 Diamond Drilling – Kena Copper Zone

The Kena Copper Zone is identified by a significant copper geochemical anomaly associated with a strong zone of high chargeability, lying within mafic volcanic and subvolcanic diorites of the Rossland Group Elise Formation. The soil anomaly has dimensions of 2.5 kilometers in length by an average of 450 meters in width as outlined by the 300 ppm copper contour. Within the anomaly, there are numerous soil samples assaying between 1,000 and 5,000 ppm copper. Prior to West Mining acquiring the property, between 1981 and 2010, a total of nine wide-spaced historic drill holes tested the copper target. Broad zones of low-grade copper mineralization (0.1 to 0.5% copper) were intersected by this historic drilling.

Analytical results from West’s 2021 diamond drilling in the Kena Copper Zone have now been received. A total of 7 holes were drilled over a 600-meter strike length. All drill holes, with the exception of KC21-03 and KC21-07, are angled at -50^o or -60^o dip with azimuths of 040^o in order to cross the foliation controlling mineralization at close to true width angles. The other two drill holes are vertical holes to facilitate deeper drilling depths.

2021 Kena Copper Zone – Diamond Drill Hole Collar Coordinates

The following table illustrates the broad zones of copper mineralization with the entire lengths of every hole (up to 688.88 meters in KC21-03) all averaging >0.1% copper equivalent (“CuEq*”). Within this large anomalous area, every drill hole contains additional significant intercepts including 105.95 metres of 0.27% CuEq; 4.95 metres of 0.87% CuEq; 28.35 metres of 0.30% CuEq; 3.84 metres of 0.94% CuEq; 46.70 metres of 0.28% CuEq and 14.10 metres of 0.37% CuEq.

2021 Kena Copper Zone – Significant Diamond Drill Hole Intercepts

*CuEq % was calculated using the following formula: (Cu(%) x 22 x 4.5) + (Au(g/t) x 0.03215 x 1880) + (Ag(g/t) x 0.03215 x 23) / (22 x 4.5), based on: Cu US$4.50/lb; Au US$1,880/oz (US$60/gram); Ag US$23/oz ($US0.74/gram); 1 tonne = 2,205 lbs; 1% = 22 lbs; 1 gram = 0.03215 oz.

Note: Intervals in holes KC21-01, 02, 04, 05, 06 represent approximate true widths. Intervals in holes KC21-03 and 07 represent approximately 120% of true widths.

Figure 3 – Kena Copper Zone 2021 Diamond Drill Holes

“We are excited by the very broad intersections of copper mineralization from our initial 7 drill holes in the large and robust underexplored Kena Copper Zone. We are very much looking forward to our 2022 exploration season where we will continue drilling of the copper anomalies, as well as expanding the gold resource,” states Nicholas Houghton, West Mining President, and CEO.

Prior to continued drilling of the copper porphyry zones, a detailed magnetotellurics survey will soon commence and this new data will be modeled and merged with earlier induced polarization surveying to allow better visualization of the mineral phases for drill targeting within this very large alteration system.

Quality Assurance/Quality Control (“QA/QC”)

West’s QA/QC procedures include one each of blank, field duplicate, and standard inserted into the sample stream for every 20 drill core samples.  Core samples are split, bagged, zip-tied, and trucked to Bureau Veritas Commodities Canada Ltd. (“BV Labs”) in Burnaby, British Columbia for analyses. The field inserted standards (certified reference materials) and blanks were purchased from CDN Resource Laboratories Ltd. of Langley, British Columbia.

Samples are analyzed at BV Labs facilities for gold by fire assay with an atomic absorption finish and 48 additional elements using multi-acid digestion with an ICP-ES finish. 

BV Labs are registered to ISO 9001:2008 and ISO 17025:2017 accreditations for laboratory procedures. In the laboratory, blanks (analytical and method), duplicates, and standard reference materials are internally inserted in the sequences of client samples.  Using these inserted quality control samples each analytical batch and the complete job are rigorously reviewed and validated by BV Labs prior to release.

The QA/QC results confirm acceptible analytical accuracy and precision.

About West Mining Corp.

West  Mining  Corp. is a  mineral exploration company acquiring and developing advanced and prospective early-stage exploration projects.  It is fully focused on its 100% owned, 9000-hectare Kena Project located in southeastern British Columbia. The Kena Project comprises three adjoining Properties:  Kena, Daylight, and Athabasca.  A recent NI43-101 resource estimate for the Kena Project gave 561,900 oz Au indicated and 2,773,100 oz Au inferred in the Gold Mountain, Kena Gold, and Daylight Zones. The Kena Property also hosts the large Kena Copper Zone, along with with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene, and Great Eastern gold mines.  Along with the trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine.  The historic mines and known mineralized zones on these three properties are structurally controlled along a 20-kilometer strike as identified by strong geophysical signatures.

Honeywell Process Solutions is a pioneer in automation control, instrumentation, and services for the oil and gas; refining; energy; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals, and mining industries. It is also a leader in providing software solutions and instrumentation that help manufacturers find value and competitive advantage through Honeywell Connected Plant, Honeywell’s Industrial Internet of Things (IIoT) solution. Process Solutions is part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell UOP, a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.
Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell.

“Cemvita Factory is committed to developing and applying breakthroughs in biotechnology to unlock metals crucial to our clean energy transition using sustainable and low-impact processes,” said Marny Reakes, VP of Biomining at Cemvita. “It was important for us to find the right EPC partner that could share the same agility and innovativeness that is core to Cemvita, and we have found that in Fluor.”

Biomining has been used successfully at scale for the last 40 years and recovers 20% of the world’s copper and 5% of the world’s gold. Cemvita brings the latest in biotech tools into action to improve recovery and extend biomining to other ore bodies and minerals to bio extract critical minerals and lower the environmental footprint of mining.

“We are committed to supporting the development of disruptive low carbon solutions in the mining industry, and we are excited to do so with Cemvita Factory,” said Tony Morgan, Fluor Mining & Metals President. “Through our partnership, Fluor will draw upon expertise with leaching technologies as well as our extensive engineering and project execution capabilities.”

Fluor is the latest strategic partner to join Cemvita’s network. For more than 60 years, Fluor has provided innovative solutions for mining projects across six continents in key mining jurisdictions.

About Cemvita Factory

Cemvita Factory is a synthetic biology company focused on decarbonizing heavy industry, focusing on improving the environmental footprint of various industries, from oil & gas and to mining. Cemvita accomplishes this via deploying technology to enable sustainable extraction of natural resources, carbon-negative production of chemicals, and utilizing waste as feedstock for energy, chemical, and hydrogen products.

Source and Image: www.cemvitafactory.com

Mobilization of two additional drills

The Company is also pleased to announce that two additional drill rigs have been mobilized to the site. One diamond drill rig is currently set up at DD-01, located on the Graciela claim, and has a target depth of 550 meters. The depth of the hole may be extended if favorable lithologies are encountered, as happened in DD-02 in the adjacent Almafuerte claim.

A second rotary drill is scheduled to mobilize in three weeks to Almafuerte to drill a production well (P-1) 15 meters away from DD-02. The well has a target depth of 450 meters and looks to test the productive capabilities of the gravel aquifer intersected in DD-02 by completing pumping tests using the neighboring DD-02 as a monitoring well.

Arena is operating the drill program on behalf of Sal de la Puna Holdings Ltd., which is jointly owned by Arena (65%) and Ganfeng New Energy Technology Development (Suzhou) Co., Ltd.

The drill program is focused on the Almafuerte and Graciela blocks which border Lithium America’s (TSX: LAC; NYSE: LAC) Pastos Grandes project to the south and south-east and consists of 3,000 meters with the objective of both increasing the category of the current resource and increasing the SDLP Project’s resource base.

The drill program is jointly designed and supervised by the Company and Atacama Water consultants. All brine samples are sent to SGS Laboratories, Salta, Argentina, an independent and fully international accredited laboratory for analysis for lithium multi-element Induction Coupled Plasma Spectroscopy. Arena has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks, and standards are inserted into each sample shipment.

Corporate Matters

The Company has engaged Digitonic Limited to provide investor awareness services for USD216,000. Digitonic Limited is based in Glasgow, Scotland, and operates under the direction of Mr. Neil Reynolds.

About Arena Minerals Inc.

Arena owns 65% of the Sal de la Puna Project covering approximately 11,000 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the Company owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation’s Antofalla project. Arena has developed a proprietary brine processing technology using brine-type reagents derived from the Antofalla project with the objective of producing more competitive battery-grade lithium products.

Arena also owns 80 percent of the Atacama Copper property within the Antofagasta region of Chile and 5.8 million shares of Astra Exploration. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile’s premier copper mining district.

The ZM OpenMine system is already operating at the Bachatsky coal mine of UMMC. It manages over 200 vehicles, including 40 excavators and 120 dump trucks. In addition to basic functionality modules and control of various types of mining vehicles (excavators, dump trucks, drill rigs, bulldozers), the company also uses services for diagnostics, tire monitoring, ore quality control and railway transport.

It is expected that when using the ZM OpenMine system, the increase in transport load and decrease in downtime and savings in fuel and lubricants will make it possible for UMMC to save up to $2 million in 2021 at the Bachatsky open pit alone. By the end of 2021, the ZM OpenMine system will be launched at the coal mines of Krasnobrodsky, Kaltansky and Taldinsky, and by mid-2022 also at Kedrovsky and Mokhovsky. The total size of the project is over 1,100 equipment units. This will lead to an increase of overall savings to $9 million by the end of 2022.

Zyfra are implementing digitalisation projects in accordance with UMMC’s digital strategy, which includes cost-effective initiatives focused on health, safety and environment. The implementation of automatic dispatching is the best example of such initiatives. The ZM OpenMine system helps to fully control the entire mining fleet. In particular, the system minimises the risk of hazardous situations in production, improves labor discipline, and also leads to resource savings: tires, fuel and lubricants, consumables, commented Sergey Fedotov, head of the UMMC Digital Transformation Program.

In the next stages of digital transformation, UMMC intends to introduce digital twins with a full three-dimensional geological model of their open-pit coal mines for planning, design and monitoring of mining operations.

The ZM OpenMine system has already proven itself on the market as a reliable tool for keeping the efficiency and safety of mining transport under control. We believe that our system will allow UMMC to strengthen its position as an industry leader in the region and achieve high efficiency and industrial safety indicators, noted Pavel Rastopshin, Managing Director of Zyfra Group.

For the first six months of 2021, KRU’s enterprises produced 20.5 Mt of coal (including 3.2 Mt of coking grades), which is 5.6% less than the volume of the same period in 2020, but fully corresponds to the current plans of the company. The total volume of stripping in January-June 2021 amounted to 153.6 million cubic metres.

Source & Photo: zyfra.com

Kevin Murphy, Principal Analyst with the Metals & Mining Research team at S&P Global Market Intelligence, says, ” A faster-than-expected recovery in market conditions and easing of lockdowns allowed explorers to reactivate programs by mid-2020, which caused some programs to carry over into 2021. Along with higher metals prices and increased financing activities, this has led to a strong budget recovery in 2021. As we move into the last quarter this year, metal prices and financings remain robust, and the risk of further pandemic-related shutdowns has declined. As a result, we expect the aggregate exploration budget to increase between 5% and 15% year over year for 2022.” 

Key takeaways include: 

• Gold and base metals dominate exploration focus: While the gold price has varied over recent months, its August 2021 average of $1,784 per ounce was 14% higher than its January 2020 average of $1,560/oz. Base metals have had even more impressive gains, with copper’s August 2021 average of $4.25 per pound up 55% from January 2020.

• Canada soars while Africa underperforms: While allocations to all regions have increased in 2021, Canada has attracted a particularly large share of the global budget with an increase of $800.5 million year over year to $2.1 billion, hitting its record high since 2012. Africa underperformed with allocations up just 12% to $1.1 billion, returning the region to its 2019 level. 

• Junior budgets surge but majors still drive exploration: The junior sector has increased their planned allocations by 62% year over year to a total of $4.1 billion. Despite this increase, the majors continue to account for half of global exploration budget at a total of $5.6 billion.

• Early-stage exploration budget hits all-time low: In 2020, grassroots share of allocations hit an all-time low of 24% while minesite hit an all-time high of 41% as the pandemic made large scale programs more difficult. While grassroots share recovered modestly this year due to increased activity in Australia and Canada, its global budget share is the second lowest on record at 26%. 

The Metals and Mining Research team will be hosting a live webinar to present the latest Corporate Exploration Strategies 2021 research on 19 October 2021. To register for the event, please visit this webpage. S&P Global Market Intelligence’s Metals and Mining Research team offers comprehensive coverage on mining companies, projects and mines worldwide, exploration budgets and trend analysis, reserves replacement studies, Mine Economics cost curves, commodity market analysis and industry outlook insights. The Metals and Mining offering complements S&P Global Market Intelligence’s broad universe of research sector coverage including energy, enterprise technology, leveraged loans, financial institutions, and TMT (Technology, Media and Telecom). S&P Global Market Intelligence’s opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. 

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, perform valuations and assess credit risk. Investment professionals, government agencies, corporations and universities around the world use this essential intelligence to make business and financial decisions with conviction. S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. S&P Global has been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. For more information, visit www.spglobal.com/marketintelligence.

Source(s) and Image(s): S&P Global Market Intelligence

Consolidating three locations into one major hub, the new technology, operations and commercial Black Hills site has more than 5,000 sq feet of office and networking space, a 3,500 sq foot laboratory and an 80,000 sq foot production area.

With state-of-the-art lab capabilities, through advanced technology, and an in-house team dedicated to local and regional customer challenges, the combined facility will enable Clariant to respond with maximum agility to analyze production issues, chemical solution development and implementation in the field, with simplified logistics, reduced lead times and fewer bottlenecks.

“The central location of the site demonstrates Clariant’s long term commitment to the Eagle Ford oil production region, enabling significant opportunities for our key customer partnerships to grow with the support of our innovative sustainable chemistries and industry leading safety culture,” said Tyler Kilgannon, Head of Sales, NORAM Oil Services.

The Clariant Eagle Ford legacy was established in 2013 with the creation of a sales team from the ground up and grew over the years to be a core contributor to Clariant’s onshore US oilfield services business.

Anton Kaiser, Head of Supply Network Clariant BU Oil and Mining Services (OMS) stated, “The consolidation of our three operations into a first class operations hub represents another major milestone, confirming once more that we have become the sustainability and safety role model of our industry leading into a new future.”

For more information, please visit Eagle Ford Technology & Operations Center Grand Opening (clariant.com).

Source(s) and Image(s): Clariant

The report, titled “Geophysical Exploration for Deer Musk East Claim Area” was prepared by Advanced Geoscience Inc. The report concludes that the results from the geophysics program “…demonstrate a strong likelihood for the occurrence of lithium brine deposits beneath the claim area.” The report recommends additional geophysics studies to further improve the definition of the brine targets. It also recommends drilling to assess the lithium content of the brine targets with the goal of ultimately generating mineral resources.

David Watkinson, President and CEO of Ameriwest, stated, “The results of the report are exciting, as they are proving up the exploration model outlined by the Company’s geological team for DME. It is clear the next phase of work including drilling, is warranted, to better define and test the geophysical targets identified in this report.”  

The Deer Musk East Property (DME or the Property) is located on the southeast margin of Clayton Valley between the paleo-lacustrine playa and Clayton Ridge, the first set of uplifted Tertiary sediments on the east side of Clayton Valley. DME is adjacent to and south of Noram Lithium Corporation’s Zeus Project and Cypress Development Corporations Clayton Valley lithium properties. Those company’s exploration activities have successfully discovered lithium claystone deposits with NI 43-101 Technical Reports defining lithium mineral resources.

Note that the location of DME adjacent to or nearby properties does not guarantee exploration success at DME or that mineral resources or reserves with be defined on the Property. However, the exploration models and activities conducted by those companies provide a useful guide for exploration work being completed by Ameriwest at DME.

The geophysics program at DME consisted of a three-tiered geophysical program that included 30,200-feet (9.05 km) of seismic surveys in four lines that contained 2,210 stations, a detailed gravity survey with 85 station readings, and a selective seven-station transient electromagnetic resistivity survey. The work was initiated to identify the subsurface sedimentary composition, locate, and identify possible tectonic structures, to ascertain the potential depth to groundwater, and to determine if the groundwater is brine rich. Brine rich groundwater has potential to host concentrated lithium.

The data clearly showed the “seismic stratigraphy” as a complex fault zone that both lifts up as well as down drops vast sections of the Property (horst and graben fault blocks) which have created potentially favourable traps for lithium-rich brines and brings potentially lithium-rich sediments to the near-surface. 

A central core uplift area in the middle of the claim block was clearly apparent from both the seismic and gravity surveys. There is a substantial gravity low on the east-central part of the claim block indicating a large down-dropped section. This suggests potential for a massive fault-blocked groundwater pool is evident. The geophysicist identified three distinct fault zones, although other faults are likely present.

The 2D Subsurface TEM Resistivity Profile produced by the geophysicist revealed a strong near-surface, low conductivity groundwater horizon (the current recharge aquifer) that overlies a very conductive saline-rich aquifer. It, in turn, overlies another low conductivity aquifer. If these groundwater horizons are lithium-rich brines, they would be between 300 – 800 feet below the surface. Drilling is required to test for the presence of lithium in the various groundwater aquifers. Groundwater, across the width of the claim block, appears to host saline-rich brines that have potential to also contain lithium.

Source and photo: Ameriwest

Highlights of the PEA (all figures are stated in Canadian dollars unless otherwise stated):

• Long-term Weighted-Average1 Graphite Price US$916/t Cg conc. (graphitic carbon concentrate)
• Exchange rate: C$1.00 = US$0.75
• Pre-tax NPV (8%) of C$313.6M
• After-tax NPV (8%) of C$185.6M
• Pre-tax IRR of 28.3%
• After-tax IRR of 21.5%
• Pre-tax payback period of 3.3 years
• After-tax payback period 4.2 years
• Initial capital of (“CAPEX”) of C$236.1M including mine pre-production, processing, infrastructure (roads, power line construction, co-disposal tailings facility, ancillary buildings, and water management)
• Life of mine processing period (“LOM”) of 14.7 years
• Average LOM strip ratio (Waste:Mineralization) of 4.04:1
• LOM plant production of 21,874 Kilotons (kt=1,000 metric tonnes) of mill feed yielding 1,436 kt of graphite concentrate grading 95.0% Cg.
• Average annual graphite concentrate production of 108 kt for the first eight years; LOM average annual production of 97.4 kt.
• Average graphite mill head grade of 7.44% Cg for the first eight years; LOM average graphite mill head grade of 6.67% Cg.
• Average LOM recovery of 93.5% Cg.
• Measured + Indicated resource at the base case cut-off grade of 1.5% Cg of 23,165 kt at a 4.51% Cg grade for 1.04 Mt of graphite.
• Inferred resource at the base case cut-off grade of 1.5% Cg of 46,821 kt at a 4.01% Cg grade for 1.9Mt of graphite.
• Cash Cost of US$386 per tonne of graphite concentrate
• All-in Sustaining Cost (“AISC”) of US$406 per tonne of graphite concentrate

The Lomiko team is pleased to present the results of a PEA on its La Loutre Project, clearly demonstrating its potential for the Corporation to become a major North American graphite producer, with a positive after-tax Internal Rate of Return (“IRR”) of 21.5% and after-tax Net Present Value (“NPV”) of C$186M. The PEA supports an open pit project with production spanning 14.7 years with robust economics at a US$916/tonne Cg sale price, with very attractive cash costs and AISC, low CAPEX and low capital intensity. The first eight years will target production averaging 108 kt/a payable graphite concentrate peaking at 112 kt/a in year 4.

“La Loutre has shown it has the potential to become a highly profitable graphite mine in one of the most prolific producing regions in Canada. The La Loutre PEA was produced by the Ausenco team, one of the most experienced and reputable engineering firms working on mining projects in Canada. With further drill programs, we will continue to add to and upgrade resources as we seek to move the project forward towards production,” said A Paul Gill, President, CEO and director, Lomiko.

Find out more.

Kimura is a London based asset management company that specialises in commodity trade finance with expertise in financing complex logistical operations. As a member of the Alternative Investment Management Association, Kimura’s experience in finance will provide another important source of financial liquidity within the mining and metals ecosystem. The partnership with MineHub will be instrumental in driving the innovation within the industry.

With financial institutions adapting to a changing regulatory environment, the provision of alternative finance plays an increasingly important role in facilitating the availability of credit, not just for trade finance, but also project and institutional finance. Improving access to capital is therefore a core part of the MineHub value proposition and a key area of focus is on enabling an integrated mix of institutional and alternative finance actors to provide new financing structures.

Arnoud Star Busmann, CEO of MineHub said: “Having Kimura on board as a consortium member is very strategic for MineHub. Offering optionality in financing sources is core to our strategy and Kimura is a clear leader in this sector, both in size and diversity, as well as their commitment to innovation, technology and sustainability. Working with Kimura and their peers, in conjunction with commercial banks and other financial institutions, MineHub will improve the working capital options and costs for miners, traders and other users. Our solutions will serve both large corporates and SMEs within the market, whilst contributing to responsible supply chains by linking risk pricing to ESG profiles of minerals.”

Kristofer Tremaine, CEO and Founder of Kimura Capital said: “There is no doubt whatsoever that digitisation is the future for the market. Kimura has developed its business by selecting best in class partners in order to strengthen its overall offering. We are delighted to begin a partnership with MineHub whom have outstanding potential and represent Kimura’s first cooperation in the digitisation of commodity trade flows. MineHub’s value set and ambitions run very closely to Kimura’s, making the future of our strategic partnership, along with the other strong companies involved, one of great success.”

Digitalisation, transparency and automation will help reduce operational and fraud risks, thereby lowering the barriers to entry for alternative financing sources. Increased operational efficiencies and automation of ESG compliance will enable alternative financing houses to serve more clients without increasing operations and overheads.

About Kimura Capital LLP

Kimura Capital is a UK based investment manager specialising in the global commodity trade finance business. Kimura specialises in providing tailor-made financing solutions for small to medium sized commodity producers. Kimura can look at transactions across the globe in the agriculture, metals and energy sectors and have assembled an experienced team of commodity professionals.
https://kimuractf.com/

About MineHub Technologies

MineHub Technologies is an innovative technology company focused on improving efficiency in mining and metals supply chain and bringing trust to the management and trading of natural resources. MineHub’s core services digitise the key interactions between participants, bringing automation, cost savings, security, ESG and regulatory compliance to a large set of stakeholders.
https://minehub.com/

Red Moon Resources Inc. is pleased to announce that since production commenced in May the company has shipped over 130,000 tonnes of gypsum/anhydrite from its Ace mine in western Newfoundland. Production will continue into late October and it is anticipated that the total production for 2019 will exceed 150,000 tonnes as forecast. The Company is working with Vinland Materials Inc., a related company, to undertake contract mining operations and secure sales agreements for gypsum and anhydrite. The Company and its contractors worked diligently to initiate shipments in late 2018 and have followed this up with a successful first full season of production. This year is an important step for the establishment of the Ace mine as a reliable producer of consistent quality material in eastern Canada.

Gypsum/anhydrite are mined by traditional open-pit methods, which are amenable to scaling of production to meet the demand cycle. The company is utilizing a deep-water port connected by a haulage road located approximately 10 kilometres from the Ace mine. The project is situated off a paved road approximately six kilometres from the TransCanada Highway and 25 kilometres from the local service centre of the town of Stephenville. The Ace mine covers approximately 12 hectares and has the potential for a 10-year mining life at an average production rate of 350,000 tonnes per year. The mine is an extension of the dormant Flat Bay mine which produced at least 15 million tonnes of gypsum prior to 1990. The company believes that current market opportunities warrant ramping up production, but future production rates are speculative at this time due to normal commercial mining risks associated with scaling of production, production costs, competition, commodity prices and market availability. If the company can access markets requiring production rates beyond the Ace mine capacity, the company is prepared to develop other existing gypsum deposits located on its mineral licences, which cover approximately 700 hectares of the historic Flat Bay gypsum mines.

Patrick J. Laracy, President of the company said: “We have successfully opened up the Ace mine and will continue to work towards a larger operation. We have engaged some of the best operational resources in the area to make the mine a success and ensure its viability. The economic impact in the immediate area is significant with an estimated 45 people employed on a seasonal basis in mining, trucking, port facility, marketing, shipping and supervision. This is in addition to the utilization of specific services such as drilling and blasting.”

Fischell’s Brook Salt Exempt Mineral Land The Company also reports that pursuant to a “Request for proposals on the Fischell’s Brook Salt Property Exempt Mineral Land” issued by the Government of Newfoundland and Labrador, the Company is the successful bidder and has been awarded the mineral rights to the Fischell’s Brook Salt property in western Newfoundland. The property is situated approximately 15 kilometers south of the Company’s Captain Cook Salt project which is currently at the prefeasibility stage. The Fischell’s deposit was discovered in 1968 when a geophysical anomaly was drilled for potash. Follow up work has established that it is a substantial salt dome containing numerous potash beds. Subsequent investigations have evaluated the deposit as a source of rock salt and a cavern storage facility for natural gas. Red Moon will carry out an evaluation of its geotechnical attributes and potential uses. The property consists of 39 claims (975 hectares).

Patrick J. Laracy, PGeo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101. Red Moon is an industrial minerals company developing the Ace Gypsum deposit, the Captain Cook Salt deposit and the Black Bay Nepheline deposit in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 63% of the common shares of Red Moon. We seek Safe Harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.

Today, the Honourable Lisa Dempster, Minister of Municipal Affairs and Environment, on behalf of the Honourable Siobhan Coady, Minister of Natural Resources, and Yvonne Jones, Member of Parliament for Labrador, on behalf of the Honourable Bernadette Jordan, Minister of Rural Economic Development, announced funding for a new power transmission line and terminal station in western Labrador. 

“It’s great news for Labrador that a new transmission line is being constructed to support the mining industry, offset reliance on diesel, and contribute to a green economy. As a province, we have initiated Mining the Future 2030 – A Plan for Growth in the Newfoundland and Labrador Mining Industry and The Way Forward on Mineral Development. The initiative announced today supports the work we are doing to achieve our Mining the Future goals,” said Honourable Siobhan Coady, Minister of Natural Resources.

This project involves building a new terminal station and a 27-kilometre transmission line from Nalcor Energy’s Menihek Hydroelectric Generating Station existing transmission line to the Tata Steel Minerals Canada processing site. This new infrastructure will enable Tata Steel Minerals to offset diesel-fired generation with clean, renewable hydropower, reducing the mine’s diesel consumption by up to 40 per cent. This project will support continued growth of Labrador’s mining industry while lowering greenhouse gas emissions for a cleaner environment, both now and in the future. 

“Access to reliable sources of clean, renewable energy is essential to building a healthy, sustainable future. This project will benefit Newfoundland and Labrador by reducing its reliance on diesel and eliminating more than 558,000 tonnes of greenhouse gases from the atmosphere over the lifespan of the project, protecting families and the environment,” said Yvonne Jones, Member of Parliament for Labrador

The Government of Canada is investing more than $6.8 million in this transmission project, which will be constructed by Nalcor Energy, through the Green Infrastructure Stream of the Investing in Canada infrastructure plan.

“The Provincial Government is working hard to leverage all available federal funds under the Investing in Canada Plan and we are pleased to support opportunities for job creation and economic development. The transmission line project is an excellent example of how government and industry can work together to transition to a green economy and promote clean growth and sustainability in Newfoundland and Labrador,” said Honourable Lisa Dempster, Municipal Affairs and Environment 

The Honourable Dwight Ball, Premier of Newfoundland and Labrador, and Clayton Walker, President and CEO, Iron Ore Company of Canada, officially opened Wabush 3 in Labrador West. Also attending the event was the Honourable Siobhan Coady, Minister of Natural Resources and Graham Letto, Parliamentary Secretary for Natural Resources and MHA for Labrador West.

Wabush 3 is a new open pit that will extend the life of the current mine by approximately 50 years, maintain production of high quality grade iron ore concentrate and pellets, and secure employment. “The development of Wabush 3 provides long term sustainability for IOC and the people of Labrador West. This investment is a significant commitment that will secure the life of the operation for many years into the future,” said Graham Letto, Parliamentary Secretary for Natural Resources, MHA for Labrador West.

Projects such as Wabush 3 highlight government’s efforts to partner with industry players to position the province globally as a preferred location for mineral exploration and mining development. A provincial mineral strategy – a key initiative under The Way Forward – will be launched in partnership with Mining NL and community stakeholders to continue positive new developments.

The Way Forward outlines all actions the Provincial Government is taking to achieve a strong, diversified province with a high standard of living, and can be viewed at thewayforward.gov.nl.ca. “I would like to thank the Iron Ore Company of Canada for their continued investment in Labrador and our province. Wabush 3 will extend production, resulting in more than 50 years of additional mining activity, more jobs and more spin-off benefits for local businesses. Today’s announcement further reflects that our Way Forward to strengthen the economy is working,”  said Honourable Dwight Ball, Premier of Newfoundland and Labrador.

Honourable Siobhan Coady, Minister of Natural Resources explains, “We recognize the importance of the Wabush 3 project for sustaining operations at Iron Ore Company of Canada and for contributing to the economy of our province. We are committed to further building the Labrador Trough. Our work will continue as we plan our Way Forward together with industry and community stakeholders.”

More on Wabush 3

On February 23, 2017 IOC announced a CAD$79 million investment by the IOC Board of Directors.  Wabush 3 is a new pit that will be developed within IOC’s existing mine operations and will utilize its existing maintenance, ore delivery, processing and tailings management facilities as well as other aspects of IOC’s current infrastructure and activities in the region. It will also extend the life of the mine, reduce operating costs and increase production of quality grade iron concentrates and pellets.

The Wabush 3 pit will be developed adjacent to Luce pit and construction is expected to start in the second quarter of 2017. First ore from production mining is expected in the second half of 2018, helping IOC ramp up annual capacity from 18 million tonnes towards 23 million tonnes.
IOC is committed to ensuring that project construction and operations are conducted in an environmentally acceptable manner and to continuing meaningful engagement with all stakeholders.

It’s important for IOC to modernize assets and the operating model to achieve safer and more stable production, with the objective of being a lower cost producer of quality grade iron concentrates and pellets for the steel industry, and make IOC the premier mining organization in North America.

IOC

The Iron Ore Company of Canada (IOC) is a leading Canadian producer of iron ore pellets and concentrate serving customers worldwide.
Find more details here.

Gypsum is mined by traditional open-pit methods, which are amenable to scaling of production to meet the demand cycle. A deepwater port connected by a haulage road is located approximately 9 kilometres from the Ace mine. The project is situated off a paved road approximately 6 kilometres from the Trans-Canada Highway and 20 kilometres from the local service centre of the Town of Stephenville. The open-pit operation is located in the dormant Flat Bay mine that produced at least 15 million tonnes of gypsum prior to 1990. The Ace mine covers approximately 11.79 hectares and has the potential for a 10-year mining life at an average production rate of 350,000 tonnes per year. The company believes that market opportunities currently exist to warrant development but future production rates are speculative at this time due to normal commercial mining risks associated with scaling of production, production costs, competition, commodity prices and market availability.

The markets for gypsum are primarily in the cement and wallboard industries and are based on negotiated contracts. With the increasing switch from coal to natural gas-fired power generation plants in the United States the supply of synthetic gypsum produced by sulphur dioxide scrubbers in power plant smokestacks has been significantly reduced. As a result, an increase in demand for natural gypsum has emerged. If the Company can access markets requiring production rates beyond the Ace mine capacity the Company is prepared to develop other existing gypsum deposits located on its mineral licences which cover approximately 700 hectares of the historic Flat Bay gypsum mine including unmined material and potential extensions of known deposits.

Patrick Laracy, President of the Company said, “We are extremely pleased that Red Moon is now a production company with the prospect of positive cash flow from the Ace mine in the near future. I would like to congratulate Vinland and its subcontractors on their role in putting Ace into production on an expeditious schedule in order to close sales in 2018. We obtained final mine approval on July 19^th and in little over a month our first sale and shipment has been made. The Company continues to work towards establishing the Ace mine as a source of high-quality natural gypsum/anhydrite for the cement and wallboard industries.”

Patrick J. Laracy, PGeo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101. Mr. Laracy is the founder of the company and has leveraged over $100 million of high risk exploration expenditures through equity and joint venture financings. He has discovered several mineral and petroleum deposits. Mr. Laracy has extensive experience as both an exploration geologist and lawyer. He is a graduate of Memorial University of Newfoundland (B.Sc. Hons.1981) and the University of Calgary (LL.B.1988). He is a member of the Professional Engineers and Geoscientists of Newfoundland and Labrador with over 30 years of industry experience in various technical and executive capacities.

Red Moon is an industrial minerals company developing the Ace Gypsum deposit, the Captain Cook Salt deposit and the Black Bay Nepheline deposit in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 67% of the common shares of Red Moon.

For information please contact:
www.redmoonresources.com

I remember way back in the early 1990’s; there were a lot of lands staked in Labrador as prospectors were looking for diamonds.

Al Chislett, Chris Verbiski, of Archean Resources, knew that the Archean rock formations of Labrador were one of the earth’s oldest rock groups where diamonds are often found. They were so confident in its potential they named their company after the formation – “Archean.”

A gruelling series of surveys of 25,000 kilometres of the Labrador landscape culminated to the spotting of a rusty zone on one of the outcrops. Chris and Al began to take samples and realized that the site was promising.

Geologist Rod Baker worked for Diamond Fields in 1993, and he headed to Labrador only to discover that Al and Chris had already staked the best prospect lands for diamonds.

Unstoppable and determined the prospecting pioneers joined forces and collaborated to explore the Archean play together. Diamond fields acquired Archean Resources claims and together they started an exploration program that was geologically sound and entrepreneurially driven. Diamond Fields funded a geophysical survey and drilling program for the following year. It was then that the true extent of the deposit became apparent. A survey of 500 samples, weighing 200 kilograms each, were taken and screened for their potential. That work and those great minds led to a game-changing, life-altering, mining bonanza now known as Voisey’s Bay.

Voisey’s Bay locator map Source: Torngait Services

PAYDAY

In the fall of 1994, the Archean/Diamond Fields drilling team hit yellow drill core; not yellow core from gold, not even from diamonds, but gold from massive ore sulphides. It was an incredible discovery and beyond what anyone could have imagined.

The world-class nickel discovery sent shock waves around the globe as it was one of the most significant mining discoveries in Canada at 141 million tonnes, located in Voisey’s Bay, Labrador.

MINING BOOM

That nickel discovery exploded the mining community in Newfoundland and Labrador. Junior mining companies from all over the world, but mostly from Vancouver, fell over themselves trying to strike it rich as they feverishly staked claims in Labrador around the Archean play.

I remember those early days of 1994 well. Al Chislett and Chris Verbisky became overnight millionaires. Junior mining firms were staking claims and playing the penny stock game. A lot of Newfoundlanders made a lot of money getting in on Voisey’s Bay stock early on in the game. A lot of Newfoundlanders also lost a lot of money on the penny stock plays. Lesson learned.

With so much excitement and activity in the business community that I started a mining magazine dedicated to the developments and possibilities of the future of mining, and it was prosperous for the next five years. That time was abundant and fun for pioneering prospectors as it was full of excitement and optimism. It was a prospectors dream time, a mining ‘hay day.’

Early 1990’s – A vintage copy of The Newfoundland and Labrador Mining Magazine with Chris Verbiski and Al Chislett on the front cover.

INCO TAKEOVER

The Voisey’s Bay project proved bigger than anyone had ever dreamed. So big that it required a world-class nickel operator to delineate the mine. And so it was, on March 26, 1996, Inco announced a takeover bid of $4.5 billion for Diamond Fields. On April 3, 1996, the deal was officially signed by all parties, and Inco became the new owner-operator of the Voisey’s Bay project.

The nickel open-pit mining began in Voisey’s Bay in 2005. The ore from Voisey’s Bay was sent to market and also for processing. Ore was transported by the icebreaking cargo ship named the “Umiak 1”. Nickel concentrate was transported to the Long Harbour processing plant on the Avalon Peninsula of Newfoundland, 50 minutes from the capital city, St. John’s.

Voisey’s Bay continues to be a powerful and profitable project for the operator, industry stakeholders, suppliers, investors and the people working on the project. The Newfoundland and Labrador government estimates the value of the project will contribute $20 billion or more, to the province’s gross domestic product, during the 30-year life of the field.

Voisey’s Bay mining site in Labrador, Canada. Source: Vale

VALE

The Vale SA business strategy is to invest in world-class assets capable of creating value through the cycles and which have a long life, a low cost, the potential to expand and ensure high-quality production making Voisey’s Bay nickel an ideal project for their portfolio.

In 2006, Inco was acquired by Vale for nearly $20 billion. Vale S.A. is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world operating and is currently operating around the globe in over 30 countries.

Vale’s net income in the first quarter of 2018 was $1.6 billion. An increased price for nickel and coal as well as the flexibility of the supply chain were factors in their stellar performance. Ultimately this level of achievement resulted in a dividend return to shareholders of $1.4 billion in March 2018. Voisey’s Bay minerals have been a significant contributor to Vale’s success. Now they intend to build on that.

GOING UNDERGROUND

Most mega-projects tend to be bigger than initially predicted. That’s proven to be the case in Newfoundland’s offshore oil and gas projects as well as with this mega-nickel deposit.

13 years later the Voisey’s Bay mine has proven to be worthy of additional delineation below ground and on June 11, 2018, Premier of the province of Newfoundland and Labrador, Dwight Ball announced that Vale is moving forward with its underground mine at Voisey’s Bay which will extend the overall life of the project by at least 15 more years.

Exploration around the Ovoid Deposit of the Voisey’s Bay has identified two significant finds; the Reid Brook and Eastern Deeps which are located between 200 m to 900 m underground. The construction phase, necessary to build the mine and access the deposits underground is now sanctioned and will bring first ore to surface in 2021. The mine will be producing until 2034.

Over the five-year construction phase of the underground mine, more than 16,000 person-years of employment will be created. The new underground mine requires a capital investment of $2.2 billion in project construction expenditures.

UNDERGROUND PROJECT OPPORTUNITIES

The scope of the Voisey’s Bay underground project includes:
1. Underground development to access the two deposits
2. Fresh and return air fans
3. Increased power generation and fuel storage
4. Expansion to accommodations, offices, warehousing and maintenance shops
5. Upgrades to water and sewage treatment facilities
4. Paste backfill and shotcrete plants

NEXT 5 YEARS: CAPITAL EXPENDITURES

As a brownfield project, the mine expansion will use the existing concentrator, port, and support facilities, as well as the Long Harbour Processing Plant, leading to reduced implementation risks.
The total capital expenditures are estimated at approximately US$ 1.7 billion:
US$ 100-150 million in 2018, 
US$ 300-350 million in 2019, 
US$ 450-500 million in 2020 and 2021, 
US$ 150-200 million in 2022 
and less than US$ 50 million in 2023.
During 2021 and 2022, the Ovoid open pit is expected to produce an average of approximately 0.8 ktpa of refined cobalt, at average grade of 0.08% cobalt.
During the initial ramp-up period of 4 years, commencing in 2021, VBME is expected to produce an average of approximately 1.8 ktpa of refined cobalt, at average grades of 0.15% cobalt.
When operating at full scale, from 2025 to 2033, the underground mine is expected to produce an average of 2.6 ktpa of refined cobalt, at average grade of 0.13% cobalt.

VOISEY’S BAY TOTAL RESOURCES

Voisey’s Bay has total estimated mineral reserves of 32.4 million tonnes with a nickel grade of 2.13% and a cobalt grade of 0.13%.

The open pit reserves and resources consist of the Main Ovoid, the Mini Ovoid and the SE Extension. The underground reserves and resources include of Reid Brook and Eastern Deeps.
Of the total estimated mineral reserves, the underground reserves contain 23.6 million tonnes with a nickel grade of 2.17% and cobalt grade of 0.14%.

_________________________________________________________________________

OUR GREAT MINDS: A TRIBUTE TO AL CHISLETT:

A true visionary and pioneer, prospector Albert Chislett passed away April 2018, following a lengthy illness at the early age of 69.

In 1993, having staked claims in a lucrative region of Labrador, Al discovered the Voisey’s Bay nickel deposit along with partner Chris Verbiski. Both were working with Diamonds Fields Resources Limited at the time. These pioneers are the reason we are where we are today: A global mega-project that is world class by all standards – Voisey’s Bay.

We will always be grateful for Al’s incredible contribution. Al Chislett was born and raised in Islington, Trinity Bay, but in recent years resided in CBS, Newfoundland. He leaves an incredible legacy in Newfoundland and Labrador.
___________________________________________________________________

For a visual account of the Story of Voisey’s Bay go to this three-part series:


Source: Vale, Wikipedia, Visual Capitalist, The Big Score

___________________________________________________________________

STORIES OFFER PERSPECTIVES AND INFLUENCE

If you would like to create content for the new digital era please let us know.
We will architect your digital path and get your message to the market in new and creative ways!

TINA OLIVERO: Publisher & Content Strategist for clients worldwide.

To gain more insight into digital media support and training please contact:
tinaolivero@theogm.com.

Tina Olivero

In 2017-18, the Mineral Incentive Program was a success with 28 grants awarded under the Junior Exploration Assistance Program totalling $1.39 million and 47 grants provided to prospectors under the Prospector Assistance Program totaling $217,618. The Prospector Assistance Program, in conjunction with Mining NL, provided financial support to nine prospectors to travel to mineral conferences for promotion of their properties. Together, Mining NL and the Prospector Assistance Program fund the Matty Mitchell Prospectors Resource Room.

“An investment of $1.7 million in the Mineral Incentive Program helps further the work of prospectors and junior mining companies. Their work, supported by province’s Geological Survey, is the foundation for mineral exploration and mining development in Newfoundland and Labrador. Nearly 40,000 claims were staked in 2016 and 2017 which is approximately the total number for the previous four-year period combined,” said Honourable Siobhan Coady, Minister of Natural Resources.

It is estimated that mineral exploration spending in 2017 was $36.7 million and is expected to increase to $38.5 million for 2018. Government initiatives, such as the Mineral Incentive Program, continue to encourage the sustainability of the mining industry by supporting mineral exploration in the province. With a forecast in 2018 of 6,000 people employed in the industry and $3.4 billion in mineral shipments, mining is a major contributor to the Newfoundland and Labrador economy.

“Mining Industry NL strongly supports measures that attract and leverage private investment into the mineral industry. The Mineral Incentive Program positively impacts our members’ prospecting and exploration projects and contributes to their success throughout the province,” said Ed Moriarity, Executive Director of Mining Industry NL.

“Prospecting is a crucial part in the early phase of mineral exploration. Most of the present day and historic mines in the province were either directly or indirectly discovered by prospectors. Many prospectors avail of the small prospector assistance grants each year to conduct their field work. These grants go a long way in helping to pay for analyses of rock, soil and stream sediment samples, and to cover other expenses; such as accommodations, fuel and field supplies. Many prospectors would not be as active if it were not for the availability of the prospector assistance grants,” said Norm Mercer, Newfoundland and Labrador Prospectors Association.

This initiative delivers on commitments in The Way Forward to strengthen the province’s economic foundation. The Way Forward outlines all actions the Provincial Government is taking to achieve a strong, diversified province with a high standard of living, and can be viewed at thewayforward.gov.nl.ca.

Publisher and CEO, Tina Olivero says, “Creating a globa publication that bridges to readers and buyers around the globe is what we do.  Perhaps our client wants to attract investors or garnish new hires from around the world, we pride ourselves in finding creative ways to make that happen. We love the challenge of using new programmatic technology and algorithms to bridge the gap between the seeker and the solution. It’s a creative process that bridges the business development gap for our clients. I’m hoping in the not too distant future there won’t be any such thing as marketing, just ‘direct to sale’. That would make life alot easier for everyone. We have the solution that’s the closest thing to it!”

The OGM network spans over .5 million viewers online and has special print distribution for exhibitions and subscribers. It’s world class presentation puts it in a league unto itself. It’s credible, positive and always focused on connecting and uniting the industry.  The game of business takes a tribe of committed and dedicated people and The OGM has the privilege of working with those people every day.

Take a video adventure through some of The OGM’s great brands and realize just how many companies entrust their message with The OGM.

Ask us about programmatic solutions where we can reach people who searched for your product or services by broadcasting out to over 2000 other magazines, thereby reaching 1-2 MILLION viewers in a month! The results are simply the most cost effective in comparison to any other medium on earth. Programmatic solutions are the future folks, so learn everything you can about it.

LEARN ABOUT PROGRAMMATIC NATIVE CONTENT
Find out more on programmatic native content right here:

SEE PROGRAMMATIC IN ACTION
See how our clients used programmatic native content to fill up their CAD training program with strategic content, a multi-media mix, and a lead generator.

HERE’S WHAT OUR CLIENT HAD TO SAY:
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Enjoy the ride!

Tina Olivero

GREAT BRANDS IN THE OGM

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Once corrosion starts, often through a breach in traditional barrier-type coatings such as epoxies or polyurethanes, the coating can act like a greenhouse, trapping water, oxygen and other corrosion promoters.  This allows the corrosion to spread quickly under the coating itself, which is difficult to inspect and can lead to failure and costly premature replacement.  For these reasons, such coatings are typically reapplied at a sizeable cost in downtime, surface preparation, and coating application.

Fortunately, there is a new type of coating that offers extended corrosion and abrasion protection, while providing rapid turnaround with minimal surface preparation.  Unlike traditional coatings, the product bonds best with corroded surfaces – so much so that flash rust is often intentionally allowed to form prior to application – to create an alloy barrier that can prevent corrosion for decades.  The coating can be applied to equipment with pitting and is safe for application in enclosed or confined areas.

Controlling Corrosion

One of the world’s largest underground mines located in Sweden wanted to extend the life of one of its large process hoppers, where corrosion to its lower steel cone was noted during an inspection.  The hopper is vital to the mine, since it stores and dispenses thousands of tons of processed iron ore granules every week.

The hopper corrosion resulted from a very corrosive, moist, salty service environment.  The hopper stores and processes iron ore, accompanied by large amounts of natural salts, mined from deep underground.  Condensation from varying temperatures throughout the year is also present.

To address these issues, the mine turned to SPI Performance Coatings, a European distributor, and EonCoat^®, a spray applied inorganic coating from the Raleigh, North Carolina based company of the same name.  The coating is actually a Chemically Bonded Phosphate Ceramic (CBPC), one of the first of a new category of coatings designed to stop corrosion, ease application, and reduce downtime.

In contrast to traditional polymer and zinc coatings that sit on top of the steel substrate, the corrosion resistant CBPC coating bonds through a chemical reaction with the substrate and slight surface oxidation actually improve the reaction.

“When applied to carbon steel, an alloy of stable oxides is formed that will no longer react with the environment and will protect the steel from corrosion,” says Merrick Alpert, President of EonCoat.  “This corrosion barrier is covered by a ceramic layer that resists corrosion, water, abrasion, impact, chemicals, fire, and temperatures up to 200°F with a topcoat.” EonCoat also manufactures a high-temperature version that provides protection up to 550°C.

The double layer of protection – the alloy layer and the ceramic layer – makes it impossible for corrosion promoters like oxygen and humidity to get beneath the coating.

In fact, there is actually a third form of corrosion protection provided as well.

“If the ceramic shell and the alloy layer is ever breached, the ceramic shell acts as a reservoir of phosphate to continually re-alloy the steel,” explains Alpert.  “This ‘self-heals’ the breach, depending on its size and stops the corrosion if necessary.  This capability, along with the coating’s other properties, enables effective corrosion protection for the life of in-service structures with a single application.”

To protect the steel hopper from corrosion, however, before applying the CBPC coating, many years of iron ore deposits first had to be removed using mechanical hand tools, as some deposits were a few inches thick in places.  This work had to be done far above the ground, hanging from ropes, adding complexity to the project.

Abrasive blasting was then done to remove the remaining ore and surface corrosion.  Since the steel hopper had never been painted and there was no visible mill scale, a surface preparation standard of (NACE 3 / SSPC-SP 6 / SA2 ) was acceptable.

One of the benefits of the CBPC coating, in fact, is a simplified surface preparation requirement, along with a quick return to service that minimizes facility downtime.  The time saved on an anti-corrosion coating project with the ceramic coating comes from easier surface preparation and expedited curing time.

With a typical industrial coating, near white metal blast cleaning (NACE 2 / SSPC-SP 10 / SA2.5) is required to prepare the surface.  But with the ceramic coating, only a commercial blast cleaning (NACE 3 / SSPC-SP 6 / SA2 ) is typically necessary.  A top coat, if desired, can typically be applied within one hour of applying the CBPC primer due to its rapid drying and curing time.

When blasting was complete on the hopper, the lower section was washed with potable water to remove blasting debris deep within the surface profile.  The steel hopper began to flash rust minutes afterwards.  Heavy surface pitting due to corrosion was also noted.

However, unlike conventional coating systems, none of this was a problem for the anti-corrosion application.

When the tank had dried sufficiently, EonCoat, winner of the NACE 2015 Corrosion Innovation of the Year Award in the coatings and linings corrosion control category, was applied directly to the steel surface without any further surface preparation.

The anti-corrosion coating was applied to the lower section of the steel hopper in a single coat at a thickness of 800 μm (800 microns or 0.8mm) over an eight-hour shift.  The next morning the entire area was pressure washed to check if the application was successful.

Unlike traditional coating systems that can hide future problems, the CBPC coating will simply wash off if it has not fully reacted with the substrate, allowing an applicator to touch up any problem areas before returning a steel structure to service.  Over the whole area applied (4,090 sq ft/380 sqm), only three small areas (less than 3 sq ft/0.28 sqm total) were recoated utilizing a small cartridge gun.

Due to the success of the project under tight time restrictions, the anti-corrosion coating has been approved for further projects throughout the mine.  Since the coating is inorganic and non-toxic, there are no VOCs, no HAPs and no odour involved.  This means the water-soluble, non-flammable coating can be safely applied underground and in other confined spaces.

Although CBPC coatings are relatively new in mine, quarry, and aggregate processing applications, their use will only grow as word spreads about how they can inhibit carbon steel hopper and structural corrosion for decades as well as reduce premature maintenance and replacement.

This week the Newfoundland and Labrador Department of Natural Resources amended the Pine Cove Property Development Plan so that it can now be used as a 7 million-tonne (“Mt”) in-pit tailings storage facility (the “TSF”). Over the coming months, the Company plans to accelerate the mining rate at the base of the Pine Cove Pit and stockpile ore so it can put the TSF into service in early 2018. Think massive tailings storage facility that will provide used for stockpiling.

President and CEO, Dustin Angelo

President and CEO of Anaconda Mining, Dustin Angelo, said, “The addition of the in-pit tailings facility strengthens our infrastructure at the Point Rousse Project and fortifies our platform to support our growth initiatives in Atlantic Canada. Anaconda has generated over $140 million in revenue from the Pine Cove deposit and now the potential tailings capacity will continue to generate significant financial and strategic value. Given the high cost and permitting hurdles of constructed tailings facilities, the Pine Cove Pit is a tremendous, low-cost asset. At our current rate of mineral processing, the pit provides tailings storage capacity of approximately 15 years. A long life, in-pit tailings storage facility is the perfect complement to our 1,300-tonne per day mill and deep water port.”

According to recent Anaconda Mining release, “Unlike tailing facilities with engineered walls, in the case of an in-pit tailings facility, there are less technical and environmental risks than in conventional, constructed facilities. Furthermore, based on its review of recent tailings construction projects in Canada, Anaconda estimates that the cost of storing tailings can range from $5 to $10 per tonne of tailings, depending on geography and geology as well as the chemistry of the tailings themselves. Consequently, the Company estimates it is saving approximately $35 million to $70 million in capital expenditures related to tailings storage based on seven million tonnes of capacity in the Pine Cove Pit. As the Pine Cove Pit transitions to a tailings storage facility, the Company will continue to mine the Pine Cove deposit in areas adjacent to the pit. Anaconda also plans to develop the Stog’er Tight deposit, which is approximately 3.5 kilometers from the Pine Cove Mill, in the fall of 2017 and begin mining in early 2018. Over the next two years, Anaconda expects to mine and process ore from Pine Cove and Stog’er Tight. On a longer-term basis, the Company is focused on outlining a mineral resource at the Argyle discovery, approximately 4.5 kilometers from its mill at the Point Rousse Project, and developing the high-grade Goldboro Project in Nova Scotia.”

ABOUT ANACONDA

Anaconda Mining is a TSX-listed gold mining, exploration, and development company focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove open pit mine, the fully-permitted Pine Cove Mill, and tailings facility, the newly discovered Argyle discovery, and approximately 6,300 hectares of prospective property. Anaconda is also developing the recently acquired Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company’s Point Rousse Project.

The Company also has a pipeline of organic growth opportunities to leverage existing infrastructure, including the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland.

SOURCE Anaconda Mining Inc. For further information: Anaconda Mining Inc., Dustin Angelo, President, and CEO, (647) 260-1248, DAngelo@anacondamining.com, www.AnacondaMining.com; Anaconda Mining Inc., Lynn Hammond, VP Public Relations, (709) 330-1260, LHammond@anacondamining.com
Photo by: David Howells 2016 www.davehowellsphoto.com

Vulcan is the parent company of its spin-off subsidiary Red Moon Resources Inc. (V.RMK), holding a 67% interest. Red Moon owns a highly prospective salt deposit in western Newfoundland for which it has already prepared a NI 43-101 compliant resource estimate in preparation for a feasibility study.

Vulcan’s current operational focus is its Colchester copper/gold property near Springdale Newfoundland, which it acquired in May 2016. The company has already carried out geological and geophysical field programs and a preliminary drilling round this past Fall.

Vulcan has acquired a portfolio of strategic mineral properties in the Newfoundland and Labrador, which forms the basis of its current business plan. We had the opportunity to interview Patrick Laracy, President of Vulcan Minerals, for his take on the mining industry potential.

THE OGM: Where is the mining industry headed?

PATRICK LARACY: The mining industry has a bright future because of a pending supply and demand imbalance for key metals. A growing world population, continued growth in emerging economies combined with an economic resurgence in the western economies will ensure a strong demand for raw materials.

As well there is a growing appetite for new metals in evolving technologies such as Lithium batteries. This growing demand will not be met by a timely adequate supply for a couple of reasons.

Firstly, there is a significant lag to bring new production on stream, particularly following the Great Recession and the unprecedented downturn in the industry after a period of overinvestment. The industry has lost significant amounts of capital and human resources while high-grading its mines and cutting its exploration budgets to survive. As well larger companies have sold projects to generate cash to decrease their debt loads causing a decentralization of assets in the industry. These were projects that were acquired during the mergers and acquisitions phase of the last capital cycle when debt and equity financings were readily available. But to the credit of the industry, it has made the tough decisions imposed by the free market and is emerging in a strong financial condition.

Secondly, environmental and regulatory constraints have increased the barriers to production, both by shrinking access to potential supply and by increasing the costs of the supply that is accessible. In a world increasingly headed towards deglobalization, many countries will opt to extract as much revenue as possible from their resources, adding further to costs. The combined effect of tighter supply and increasing demand will significantly elevate prices for most metals. Producers will have to replenish reserves and will look to the junior explorers and developers for that supply.

THE OGM: Which metals are on the rise?

PATRICK LARACY: The base metals (copper, lead, and zinc) have shown a strong price recovery in recent months and appear to be coming off their cyclical lows. Current demand is primarily driven by industrial uses in Asia, but a resurgence in the western economies is also underpinning a positive outlook even in the face of a more tempered Chinese economy. Zinc, in particular, has specific supply issues as some major mines have been exhausted. Copper is the “workhorse” metal and will lead the charge in any economic recovery and is a key component in electric cars. Specialty metals such as Lithium and Graphite have done well as the demand for batteries increases, particularly driven by Tesla’s vision for a future dominated by electric cars. Gold demand is essentially driven by emotion as a currency and insurance hedge against financial risks and is thus prone to manipulation in the speculative markets. However, it will always be the desired exploration objective because of its universal appeal and value. Silver has disappointed for some time as it has not always followed the moves in the gold price. Uranium is at a cyclical low primarily due to Japan’s slow return to nuclear energy after the Fukushima accident in 2011. Many market commentators believe it has only one way to go and that is up. As an exploration target, it is not very appealing unless you have a good land position in the Athabasca Basin of northern Saskatchewan where several world class discoveries have been made in the last couple of years by junior explorers. Their shareholders have been well rewarded.

THE OGM: What excites us about Newfoundland mining projects?

PATRICK LARACY: The most exciting thing about our projects is that they are in underexplored areas of Newfoundland and Labrador where the geological potential is first class and we can explore on a cost effective basis because we are familiar with the regulatory, cultural and business environment. Operating in our “back yard” has many obvious advantages.

THE OGM: How are technology and innovation changing the exploration and mining sectors?

PATRICK LARACY: Technology is driving new and increased uses for specialty metals in electronics, computers, cell phones, batteries and related accessories. The mining industry is increasingly looking toward robotics to remotely operate their mines underground. The exploration industry is utilizing sophisticated computer processing and software to model complex systems to allow better predictability in its geological and drilling programs. These, of course, are in addition to all the other digital advancements that affect all commercial activities these days such as communications and data management.

However, the mining sector has not been subject to any recent major disruptive technology that would increase the geological supply of metals. This is unlike the petroleum industry, of course, which went through the game changing shifts to 3D seismic, horizontal drilling and multi-stage fracking which has turned rock once regarded as non-productive into a very productive asset. This ultimately led to a change in the global supply equation for petroleum and all the associated economic and geo-political consequences. Barring some “black swan” event there is nothing in the mining world on the horizon that would compete with the game changing technology that has affected the petroleum industry. As a result, the mineral supply-demand dynamics are well recognized, thus our optimism for the next upswing in the mining cycle.

THE OGM: How do you see the mining business evolving in the next five years?

PATRICK LARACY: I see an industry with steadily increasing but volatile metal prices reflective of an anticipated supply-demand imbalance. The volatility will arise as the markets get fragmented because of deglobalization forces. Less efficient markets tend toward volatility depending on what market you are in and what trade agreements affect that market. Regardless of market gyrations, there should be a move by the producers towards reserve replenishment that will bode well for explorers as they sell projects up the “food chain” to the miners.

THE OGM: What does Newfoundland have to offer that’s rare and valuable in the mining business?

PATRICK LARACY: I believe the rarest and valuable thing we have is a large and prospective underexplored geography with a rural culture that understands the benefits of mining to our economy particularly for the rural parts of the province. As for commodities, we are well endowed with many industrial minerals which have not been adequately explored, developed and marketed. These include industrial materials like gypsum, salt, silica, feldspar, graphite, rare earth etc. some of which have applications in new technologies. We can’t forget the value of basic construction materials either such as aggregate, sand and gravel which will be in demand as infrastructure renewal ramps up in the USA and Canada.

THE OGM: Where do you think Canada/US relations will go regarding resource development?

PATRICK LARACY: If President Trump is successful in his push to stimulate infrastructure renewal in America there will be an increased demand for our resources. That will be good for our industry. How his protectionist tendencies play out is less certain, but I suspect that what America imports from Canada by way of resources are things that America needs, items required by the productive aspects of their economy as opposed to what their consumers desire, which are predominately manufactured goods. As such I see a trade benefit for Canadian miners, particularly if the US dollar remains strong which is advantageous for Canadian production and should spur further investment into Canadian resource developments.

Vulcan has spent the last year or so researching the best possible mineral prospects to stake in Newfoundland and Labrador for several reasons. Firstly, the long bear market, from which we are emerging, has opened up a lot of prospective properties because companies and prospectors haven’t been able to make the expenditures required to keep them in good standing. As a result, some excellent prospects are available for staking which, of course, is the least costly method of acquisition.

Given the scarcity of exploration dollars, we have focused on prospects which are easily accessible. This means that most of the money we spend will add value to the project by going “into the ground” and not for remote camp and helicopter access. The financial markets currently are not supportive of remote access unless you are delineating a significant discovery.

As well, we are prepared to spend the time and money to digitize a lot of historic information on properties that will benefit from the latest geological software compilation and interpretation. During the “paper-analogue’ years it was often difficult to impossible for a new round of explorers to fully appreciate previous work because of the inability to integrate data sets of different vintages and cross correlate information to recognize positive mineral indicators.

Also, we have focussed on the projects where state of the art geophysics will be most effective. The mineral world is developing more interrogative geophysical technics, data processing, and 3-D imaging to better interpret the geology and delineate drill targets. This is particularly important in areas with significant ground cover (till and vegetation) because seeing through this “blanket” is imperative to increasing exploration success. As a result, projects that contain modern geophysical surveys are attractive because we can add immediate value through data processing and interpretation. It is our experience that a lot of existing geophysical surveys have not had their full value extracted. This represents a technology driven element of our approach to exploration.

Looking out over the next two years we expect the best opportunity for increased value for Vulcan to come from the Captain Cook salt resource through our subsidiary Red Moon and also from a resource definition and expansion at the Colchester copper/gold project. Colchester also has the potential to deliver new discoveries for gold and copper. We would love to pull some brand new mineralized intersections out of this property and intend on giving it a serious shot.

Integrated logistics provides traditional stevedoring or marine base style solutions, and manages project cargo, from ship hold all the way through to installation. This approach has allowed Integrated Logistics to expand from their “launch pad” terminal in Argentia to completing projects in Long Harbour, Long Pond, Bull Arm, Come-by-Chance, Goose Bay and, most recently, our first project in Corner Brook.

Andrew Short the General Manager of Integrated Logistics says, “We identified Argentia as our “launch pad” terminal. In our start-up phase, Argentia had everything that we were looking for. It has great existing quay infrastructure, significant back lands, and space for further developments. We believe that with the space available and the location in the province it is well suited for future success; many businesses can benefit from the advantages of being this close to ocean transport. Argentia has a lot of growth opportunity without infringing on residential dwellings. Internally we believe Argentia has too many great qualities not to grow its industrial capacity. We have worked with all three of the province’s recent mega projects, Vale Long Harbour Construction, Hebron in Bull Arm, and with freight for the Muskrat Falls and the Island Transmission Link projects.”

Andrew said, “The Argentia site is adjacent to many of the province’s most developed industrial sites. Marystown Ship Yard, Bull Arm Fabrication Center, Long Harbour Processing Plant, and the North Atlantic Refinery are all in the region, and hopefully,   we can add Husky’s Drydock Facility to that list soon. Sometimes we forget that Argentia is also only 90 minutes by road from the largest consumer market in Newfoundland.” He added, “If you look at Argentia as a global site, first we look at all of the benefits of being Canadian: the political stability and legal structure will allow for foreign investment. Then consider the size of the site, with great marine infrastructure, room for growth and zero infringements on residential space. This makes it quite a unique site, as many ports need to find a balance between industrial operations and residents. Argentia has fewer constraints.”

Client Base

Integrated Logistics (IL) has a client base catagorized into 3 different groups. First is the primary natural resource developers: Mining, Oil and Gas, Forestry, and Fishing. These companies are typically moving the largest volumes of materials, and marine transport is most often part of the solution. If these companies have long-term needs they will look for a direct relationship with their service providers. This is typically the approach taken by IL to support operations. For these customers, there is no limit to the solutions or investments IL can make to support long-term operations. To date, they have focused most of their attention on the Mining, and Oil and Gas Sectors.

Secondly, IL works with resource developers that have special projects or seasonal needs. Companies typically hire a global freight forwarder or engineering group to manage that work. Integrated Logistics will then operate as a subcontractor either in the port or anywhere in the supply chain that it is asked to contribute. Due to the globalization of the transportation industry, IL participates in more marketing missions in Europe, and the USA than in Newfoundland. For these customers, they can apply global knowledge and combine it with the local market expertise for the right solution.

The third type of client is the local transportation providers who offer complementary services. With almost every major project there is some sort of cargo. The Integrated Logistics team works with road transport, crane providers, and heavy lift specialists. In some projects, they are the lead for the project, while in others, their suppliers are the lead and IL subcontracts the project.

Andrew explains, “We know our local logistics providers are our long-term partners in success in this industry. We try to be mindful that we might be king of the cargo today, but tomorrow we may be asking our subcontractors for a chance to quote.”

Having extensive experience working at the Port of Argentia, Andrew sees the many applications it may support. He explains, “I believe that large scale manufacturing is best suited for Argentia. Manufacturing activities that are large enough to seize the economic the benefits of having marine transport at the door step, 24-hour operations, and large land footprints. Husky’s assessment of the area has helped to prove the site’s worthiness for a large project construction. My personal view is that, as Newfoundlanders, we need to leverage our energy resources to get the most out of Argentia and similar sites. I understand energy producers need to sell their products on the market, but what if the province could divert some to a site like Argentia to support large-scale manufacturing. We all know that to sell our energy to a reseller it has to be below the end consumer rate. Can we sell some energy to large-scale manufacturing at those reduced rates? What’s the economic impact of another employer with 500 direct jobs? Personally, I believe that jobs and the population growth that employment creates will grow the province, not a particular rate per Kilowatt hour.”

“If the people marketing Argentia, could promote the site with a potential for reduced electrical rates and bulk fueling rates from the refinery next door, we would be surprised at what global manufacturers would be interested in that. Of course, there is a great future for general cargo, but Argentia is different than most ports. Most often people compare Argentia to smaller mainland ports, and these are pressured for land resources to expand services for a very large population. Argentia has a significant land area with a small island-wide population, which is why I believe, “cheaper than full price energy” is needed. Once we attract some large scale manufactures, industrial cargoes for the entire region will start to consolidate. Then general cargoes will follow. Many times the transportation industry is asked to consider using a particular port, or other infrastructure, but transportation does not create cargo. The industry figures out how to best service the economic engines that demand it. Let’s create another engine or two in Argentia, and similar areas in our province,” he says.

Andrew concludes, “Like many other Newfoundland companies, we are pretty happy to say that our days and projects are fairly different each time. Certainly, the large projects have some predictability to them, but the marine transport industry exposes Integrated Logistics teams to a lot of different projects. When you combine the different ports, cargoes and customers there is always something different. One of our-long term employees (who is quite a personality) said after finishing a project. “I am not going to say everything is perfect here, but there is always something interesting happening or something I never thought I would be doing. Over the last 7 years, we have had a lot of unique project cargos spread over the province, which has been great for us. We know we are coming to a slower period for the bigger construction projects, but as they begin to operate, and Oil and Gas exploration continue we believe there will be more interesting projects to come.”