HUDBAY ANNOUNCES CLIMATE CHANGE INITIATIVES, 2030 GREENHOUSE GAS REDUCTION TARGETS, AND NET ZERO COMMITMENT

Hudbay Minerals Inc. recently announced its commitment to achieve net zero greenhouse gas (GHG) emissions by 2050, as well as the company’s adoption of interim 2030 GHG reduction targets. This update follows the implementation of Hudbay’s 2021 roadmap, which aims to identify and manage risks associated with climate change.

According to a December press release, Hudbay’s operations are well-positioned in the lower half of the global GHG emissions curve for copper operations. However, the company recognizes its role in mitigating climate change. Hudbay’s GHG emissions reduction plan includes:

• Pursuing a 50% reduction in absolute Scope 1 and Scope 2 emissions from existing operations by 2030 (compared to 2021).

• Achieving net zero total emissions by 2050.

• Reporting on material Scope 3 emissions in the near-term.

• Assessing acquisitions and new projects against corporate emissions targets.

• Continuing to be transparent with GHG performance data disclosure, including reporting total GHG emissions and GHG intensity.

• Evaluating new technologies as they become commercially available and economically viable.

“Our GHG reduction targets were developed following a thorough review of our existing emissions and evaluation of reduction opportunities that are achievable without compromising the long-term economics of our operations and projects,” said Peter Kukielski, President and Chief Executive Officer at Hudbay. “We are proud to be able to align with global goals of a 50% reduction in emissions by 2030 and a commitment to net zero by 2050.”

Located in the Snow Lake region, Hudbay’s Lalor Mine produces gold, zinc, copper, and silver. Copper is Hudbay’s primary metal, representing approximately 60% of the company’s revenues. It is one of the critical metals needed for the global transition to a low-carbon future. The demand for copper is expected to grow with the increased use of the metal in renewable energy sources, energy storage, and the electrification of vehicles. 

For more information, please see Hudbay’s Climate Change Initiatives presentation found at www.hudbay minerals.com/climate-change-initiatives.

Hudbay Minerals Inc. is a diversified mining company with long-life assets in North and South America. Hudbay’s mission is to create sustainable value through the acquisition, development, and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. Learn more at www.hudbay.com.

FOREMOST LITHIUM RECEIVES ITS SECOND $300,000 GRANT FROM THE MMDF

For the second time in just over two years, Foremost Lithium Resource & Technology Ltd has been approved for a $300,000 grant from the Manitoba Mineral Development Fund (MMDF). The funds will support the ongoing 3,000-meter diamond drill program on its Jean Lake Lithium project near Snow Lake, MB.

Foremost Lithium began exploration efforts in the Snow Lake area in mid-2021.The Jean Lake Lithium-Gold project is a five-claim property lies on the eastern portion of the Proterozoic Flin-Flon-Snow Lake greenstone belt o the Canadian Shield. This area is known for hosting gold and gold-rich base-metal deposits and for the development of lithium resources. The property’s drill targets include the high-grade spodumene-bearing B1 and B2 pegmatite dikes and mobile metal ion lithium-anomalous magnetic trends defined by a UAV-assisted geophysical survey completed earlier in 2022. 

Foremost also operates three other properties in the Snow Lake region that focus primarily on lithium: the Grass River, Zoro, and Peg North properties. The Grass River Claims project consists of 27 claims, 30 km east of Snow Lake. Foremost Lithium’s Zoro Lithium project is located in east-central Manitoba, 20 km east of Snow Lake. Currently there have been six total drill programs on the property by Foremost Lithium and previous operators. The Peg North Project is also located near Snow Lake, and consists of 28 claims with five known pegmatite dikes and extends northeast of the Foremost property.

Throughout 2023, Foremost Lithium intends to continue exploration on its Snow Lake properties, which will include focused prospecting and surficial geochemical surveys designed to follow-up drone-assisted magnetic and LIDAR surveys on the Grass River, Zoro, and Peg North properties. Recent and historical geoscientific databases will be integrated to provide targets on the properties. 

The MMDF was launched by the Government of Manitoba in August 2020 with the stated goal of jump-starting mineral and economic development initiatives throughout the province. It is administered through the Manitoba Chambers of Commerce and aims to support new economic development opportunities that capitalize on existing assets and infrastructure across Manitoba.

Foremost Lithium is a hard-rock exploration company strategically located to capitalize on the world's growing EV appetite and is committed to being a premier supplier of North America's lithium feedstock. To learn more, visit www.foremostlithium.com.

METAL ENERGY COMPLETES 10,000 METRE DRILL PROGRAM, ACQUIRES 100% OF THE MANIBRIDGE NICKEL PROJECT

Metal Energy Corp. has acquired 100% interest in the Manibridge project with the completion of the Phase 2 10,000 metre drill program All completed drill holes intersected visible nickel sulphides. The company has released assays from 14 of 30 holes, with 16 holes to be released in early 2023.

“Manibridge has demonstrated that it has potential for future re-development and mining. The demand for nickel, a key component in many green technologies, has been high recently due to the push for the deployment of electric vehicles and battery storage capacity,” said James Sykes, CEO of Metal Energy. “The company fast-tracked its 100% ownership of Manibridge in order to capitalize on this opportunity presented by the high demand and limited supply of nickel.” 

Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The project is 20 km southwest of Wabowden, MB, with significant infrastructure and capacity supporting previous exploration programs, including year-round highway access via Highway 6.

Metal Energy has completed all cash payments, share issuances, and exploration expenditures to achieve 100% of the earn-in option agreement with CanAlaska Uranium Ltd. The company completed the project acquisition within 12 months of starting exploration work activities, a testimony to the company’s belief that Manibridge has the potential to be re-developed and mined in the future. 

Pursuant to the Option Agreement between Metal Energy and Mistango River Resources, Mistango has acquired a 15% interest in the Manibridge project. Metal Energy reserves the right to re-acquire the 15% interest in the project at any time after February 28, 2023, and before April 30, 2024. The purchase price payable by Metal Energy to Mistango for the interest on the closing date is $2,250,000 in cash or common shares of Metal Energy. The Manibridge project is currently held 85% Metal Energy and 15% Mistango. 

Metal Energy is a nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, respectively. Learn more at www.metalenergy.ca. 

GRID METALS ACQUIRES FALCON WEST LITHIUM IN SOUTHEASTERN MB

On January 12, Grid Metals Corp. announced the acquisition of mineral rights comprising the Falcon West lithium property, which is located approximately 110 km east of Winnipeg, MB and 100 km south of the company's Donner Lake lithium property. The property covers 61,268 hectares and approximately 70 km of strike length of a highly prospective geological contact zone that features several drill intersected spodumene-rich pegmatites featuring highly anomalous lithium grades. It also features excellent infrastructure including the Trans-Canada Highway, major trans-continental rail lines, hydro-electric power lines and the Trans-Canada pipeline.

According to a company press release, the initial focus of exploration will be the ArtDon and Lucy (ADL) pegmatites target area, which comprises of roughly 1.25 km of outcropping lithium-bearing pegmatites. Grid Metals believes the Falcon West acquisition is highly complementary to the company’s Donner Lake Lithium project, as both are in an infrastructure-rich exploration jurisdiction in proximity to Canada's only current spodumene mining operation, the Tanco Mine.

“Falcon West is a project of great potential that has flown under the radar despite its known lithium pedigree and close proximity to the Tanco rare metal mine and mill,” said Robin Dunbar, President and CEO of Grid Metals Corp. “It is a rare occurrence in today’s active lithium market when a company can amalgamate such a large mineral claim package with known lithium-bearing pegmatites. The company looks forward to working with local First Nation governments and the Province of Manitoba to increase the lithium economic potential in the region. These are exciting times for the province as it further cements its position as a major, future source of critical metals including lithium and nickel.”

The company controls 100% of the mineral rights with a 2% NSR royalty held by the vendors of the ADL target area claims, but does not receive NSR royalty on most of the Falcon West claims. 

Grid Metals is focused on both lithium (Donner Lake project) and nickel/copper/platinum group metals (Mayville and Makwa projects) in the Bird River and Cat Lake areas, which are approximately 150 km and 180 km northeast of Winnipeg. In addition, the company has a PEA stage nickel/copper/platinum group metals/cobalt project (Makwa-Mayville) undergoing exploration and development activity. Grid Metals also has lithium and nickel/copper/platinum group metals projects situated in Ontario. For more information, visit www.gridmetalscorp.com.

ACME LITHIUM COMMENCES DRILLING AT SHATFORD LAKE LITHIUM PROJECT

ACME Lithium Inc. has started drilling at its Shatford Lake project in the Winnipeg River pegmatite region in southeastern MB, where the company’s land holdings in comprise approximately 17,000 acres or 70 km². This start comes shortly after the Government of Manitoba issued a work permit to ACME Lithium Inc. for the Shatford Lake project drilling program. 

ACME plans to drill up to 5,000 m and has mobilized equipment, supplies and crew to Lac du Bonnet, MB. Priority 1, 2, and 3 drill targets from multiple sites were identified and include numerous pegmatites, some of which were undocumented prior to the 2022 summer exploration program. A priority area, referred to as Shatford East, is part of the Shatford-Winnipeg River. 

ACME’s Shatford Lake claim is located strategically and is contiguous to the south of Sinomine Resource Group’s world class Tanco Mine. Both the Tanco Mine and Shatford Lake areas are in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). The northern and southern limbs of the BRGB contain at least 10 pegmatite fields and host hundreds of individual pegmatite bodies, of which many are classified as complex rare-element Lithium-Cesium-Tantalum (LCT) pegmatites. Worldwide, LCT pegmatite deposits account for about one-fourth of the world’s lithium production, most of the tantalum production, and all the cesium production. 

ACME Lithium is a mineral exploration company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100% interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, at Shatford, Birse, and Cat-Euclid Lakes in southeastern MB, and at Bailey Lake in northern SK. Learn more at www.acmelithium.com. 

HUDBAY IN PROCESS =OF EXPLORING AREA NORTH OF LALOR MINE

Hudbay is increasing its exploration operations in northern MB, not far from its Lalor mine and Snow Lake facilities. According to the Flin Flon Reminder, drilling in the area is focused on an area deep beneath the surface, a potential an extension of the ore body Lalor currently mines.

In a statement to the local news source, a Hudbay spokesperson said: “Currently, surface exploration activities are underway north of Lalor mine, targeting down-plunge of our high-grade copper and gold zones. This step-out drill program, with five drills turning, will explore at depths of 1,500 to 2,000 metres from surface.”

Hudbay has been mining in Canada for almost a century, since the company’s first mines began Manitoba’s Flin Flon Snow Lake Greenstone Belt. The company is evaluating future exploration programs near Flin Flon, while expanding its operations in Snow Lake. 

The company shut down most of its operations in Flin Flon in June of 2022, concluding its operation at its 777 Mine after 18 years and transferring employees to its Snow Lake operations. The company has kept its remaining facility on care and maintenance, both to provide a back-up plan in case facilities in Flin Flon resume and to fulfill the company’s own environmental obligations to the site.

“Hudbay continues to be optimistic on the potential in the Flin Flon-Snow Lake Greenstone Belt and will, as we always have, evaluate future exploration programs in the area, while continuing with the expansion of operations in Snow Lake,” said the spokesperson.