Vulcan Minerals Inc. – Atlas Salt Delivers Positive Feasibility Study for the Great Atlantic Salt Project

Article content material

ST. JOHN’S, Newfoundland and Labrador, Aug. 28, 2023 (GLOBE NEWSWIRE) — Vulcan Minerals Inc. (“the Firm” – “Vulcan” TSX-V: VUL) is happy to announce that Atlas Salt Inc., an affiliated firm, has launched the outcomes of a Feasibility Examine (FS) and up to date Mineral Useful resource estimate ready by SLR Consulting (Canada) Ltd. (SLR) on the Nice Atlantic Salt Challenge (Nice Atlantic, or the Challenge), positioned in western Newfoundland, Canada. The FS represents a major financial enchancment over the Preliminary Financial Evaluation (PEA) launched by Atlas January 31, 2023. The FS demonstrates strong economics primarily based on 2.5 million tonnes per 12 months (Mtpa) of manufacturing over a 34-year mine life with a pre-tax web current worth (NPV) at an 8% low cost charge of $1.017 Billion (Cdn) and an inside charge of return (IRR) of 23%.

Article content material

As well as, SLR has additionally offered an enlargement case to 4.0 Mtpa of salt manufacturing over a 47.5-year mine life offered at a Preliminary Financial Evaluation (PEA) stage evaluation demonstrating a sturdy upside manufacturing state of affairs with an NPV at 8% of $2.015 Billion (Cdn) and a pre-tax IRR of 28%. The enlargement case is predicated on Possible Mineral Reserves, with the rest being Inferred Mineral Assets. Inferred Mineral Assets are thought-about too geologically speculative to have financial concerns utilized to them that may allow them to be categorized as Mineral Reserves. There isn’t a certainty that the manufacturing forecasts on which the enlargement case is predicated will probably be realized.

Article content material

Patrick Laracy, President, commented, “This impartial feasibility examine of the Nice Atlantic salt mission confirms its substantial worth and constructive financial attributes as a tier one asset. The manufacturing enlargement case to 4 million tonnes per 12 months over a 47 12 months mine life underscores its lengthy life potential. Improvement of the mine will carry important advantages to all stakeholders. With Richard LaBelle’s stewardship as our new Atlas Salt CEO, the mission is on a really constructive trajectory.”

The complete information launch by Atlas will be discovered right here https://atlassalt.com/independent-feasibility-study-and-expansion-case-for-atlas-salts-great-atlantic-project/

Article content material

About Vulcan
Vulcan Minerals is a valuable and base metals exploration firm primarily based in St. John’s NL, with strategic land positions in a number of energetic Newfoundland gold exploration and growth belts. The Firm has leveraged its exploration publicity in most of this land place by fairness possession of different explorers obtained by means of possibility and royalty agreements. It additionally holds roughly 30.5% of the excellent shares in Atlas Salt (TSXV: SALT). Atlas is growing the Nice Atlantic salt mission in western Newfoundland strategically positioned within the strong street de-icing market of japanese North America. Vulcan additionally owns a 3% web manufacturing royalty on the Nice Atlantic salt mission.

We search secure harbour.

For data please contact:
Patrick J. Laracy, P.Geo.
President
(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca

Neither the TSX Enterprise Change nor its Regulation Providers Supplier, (because the time period is outlined within the Insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch. This press launch consists of sure “forward-looking data” and “forward-looking statements” (collectively “forward-looking statements”) inside the that means of relevant Canadian securities laws. All statements, apart from statements of historic reality, included herein, with out limitation, statements referring to the long run working or monetary efficiency of the Firm, are forward-looking statements. Ahead-looking statements are ceaselessly, however not all the time, recognized by phrases reminiscent of “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “potential”, and related expressions, or statements that occasions, circumstances, or outcomes “will”, “might”, “may”, or “ought to” happen or be achieved. Ahead-looking statements on this press launch relate to, amongst different issues: completion, supply and timing of the referenced assessments and assumptions associated thereto. Precise future outcomes might differ materially. There will be no assurance that such statements will show to be correct, and precise outcomes and future occasions may differ materially from these anticipated in such statements. Ahead-looking statements replicate the beliefs, opinions and projections on the date the statements are made and are primarily based upon a variety of assumptions and estimates that, whereas thought-about affordable by the respective events, are inherently topic to important enterprise, technical, financial, and aggressive uncertainties and contingencies. Many components, each identified and unknown, may trigger precise outcomes, efficiency or achievements to be materially completely different from the outcomes, efficiency or achievements which can be or could also be expressed or implied by such forward-looking statements and the events have made assumptions and estimates primarily based on or associated to many of those components. Such components embody, with out limitation: the timing, completion and supply of the referenced assessments and evaluation. Readers shouldn’t place undue reliance on the forward-looking statements and knowledge contained on this press launch regarding these occasions. Besides as required by legislation, the Firm doesn’t assume any obligation to replace the forward-looking statements of beliefs, opinions, projections, or different components, ought to they modify, besides as required by legislation.