TORONTO, CANADA, June 7, 2022 – Strategic Minerals Europe Corp. (NEO: SNTA, FRA: 26K0) (“Strategic Minerals” or the “Company”), a company focused on the production, development and exploration of cassiterite concentrate, tantalite and columbite concentrate, today announces the granting of the definitive concession on Section C of the Company’s Penouta Mine.
This Section C named “Penouta Mine No. 4880.1” consists of 16 mining squares with an area of 155.8 hectares. The mining concession allows the Company to exploit the mineral resources that were certified by SRK in NI 43-101 for 30 years renewable for up to 75, thereby allowing the Company to fully develop the open pit mine to exploit cassiterite (tin), tantalum and niobium, and also allowing the exploitation of the industrial minerals that exist in the mine, such as quartz, feldspars and micas.
“The opportunity to develop the mineralization at Section C is an important development in our plan to generate value from our Penouta project,” said Jaime Perez Branger, CEO of Strategic Minerals. “This will enhance our progress at increasing production at our current concession and our improved mineral processing capabilities.”
In its Q1 2022 financial results, the Company reported sales of cassiterite concentrate (tin) of 42 tonnes, and tantalite concentrate of 5 tonnes. This was a 161% increase over the 18 tonnes of cassiterite and tantalite concentrate sold in Q1 2021. In April 2022, Strategic Minerals increased its primary concentrate production to 42.6 tonnes, with increased quality. The production consisted of 34.1 tonnes of cassiterite concentrate with 70% tin content and 8.52 tonnes of tantalite/columbite concentrate with 19% tantalite content and 21.5% columbite content.
About Strategic Minerals Europe Corp.
Strategic Minerals’ wholly-owned subsidiary, Strategic Minerals Spain, S.L. (“SMS”), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a license for the Penouta Project, which allows the Company to produce and conduct exploration, and an investigation permit at the Alberta II Project, allowing it to conduct exploration work already underway. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium and is exploring for lithium. Strategic Minerals is a “reporting issuer” under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risks Factors” in the Company’s Annual Information Form dated March 29, 2022, which is available for view on SEDAR at www.sedar.com. These risks include, but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Forward-looking statements contained herein, including but not limited to the Company’s anticipated exploitation of Section C of the Penouta Property and its use and development thereof, its use of the mineral processing capabilities, the ability to optimize and expand production, and its ability to increase the quality of the concentrate, are made as of the date of this press release and Strategic Minerals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Strategic Minerals’ operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
View file: RESOLUTION GRANTING THE PASS TO THE RESOURCE EXPLOITATION CONCESSION OF SECTION C) “PENOUTA MINE” Nº4880.1, IN THE CITY COUNCIL OF VIANA DO BOLO, IN THE PROVINCE OF OURENSE.
For further information regarding Strategic Minerals, please contact:
Elena Terrón, Corporate Secretary
Strategic Minerals Europe Corp.