Strategic Minerals Europe Corp. (NEO: SNTA) (FRA: 26K0) (OTCQB: SNTAF) (“Strategic Minerals” or the “Company“), a company focused on the production, development, and exploration of tin, tantalum and niobium, is pleased to announce that Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) (“Electric Royalties“) has exercised its option (the “Option“) to increase its existing 0.75% Gross Revenue Royalty (“GRR“) on the producing Penouta tin-tantalum mine in Spain by a further 0.75% in exchange for a cash payment of C$1,250,000. Electric Royalties now holds an aggregated 1.5% GRR on Penouta.
Upon receipt by Electric Royalties of C$1,666,667 in aggregate royalty revenues from the GRR, the royalty rate will be reduced to 1.25%. Upon receipt by Electric Royalties of C$3,333,334 in aggregate royalty revenues from the GRR, the royalty rate will be reduced to 1.0%. Electric Royalties acquired the Option as part of its acquisition of the original 0.75% GRR on Penouta in January 2023.
Jaime Perez Branger, CEO of Strategic Minerals, commented: “The exercise of the Option by Electric Royalties reaffirms its confidence in our operations at the Penouta Mine, which has been experiencing a steady increase in primary concentrate production and sales”.
About Strategic Minerals Europe Corp.
Strategic Minerals’ wholly-owned subsidiary, Strategic Minerals Spain, S.L.U. (“SMS“), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits, and a production license for the Penouta Project, and a 30% carried joint venture interest in the Alberta II/Carlota Lithium Project. 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, through the Alberta II/Carlota Joint Venture, 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 sedarplus.ca and its website at www.strategicminerals.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, including without limitation, management’s beliefs regarding expectations relating to the increase in efficiency at Penouta. 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 30, 2023, which is available for view on SEDAR at www.sedarplus.ca. 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. 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.
For further information regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary, Strategic Minerals Europe Corp., ; Craig MacPhail, NATIONAL Capital Markets, 416-525-5709
Further Information
For further information regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary
Strategic Minerals Europe Corp.
Craig MacPhail
