Blackstone Completes Strategic Investment and Offtake MOU

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce it has made a strategic investment in Corazon Mining Limited (Corazon), a nickel-copper-cobalt sulfide exploration and development company listed on the Australian Stock Exchange (ASX). Blackstone’s initial investment of ~A$2m will earn a 14.32% interest in the common equity of Corazon (Equity Investment).

Corazon has interests in nickel-copper-cobalt assets in Canada (Lynn Lake) and Australia (Mt Gilmore and Miriam). The Lynn Lake Project located north-west of Thompson in Manitoba, Canada (refer Figure 1), has historic mining and a current mineral resource of 168.0ktNi,81.7ktCuand7.9ktCo(referTable1). The Lynn Lake Project is 100% owned by Corazon and is a development ready underground mine in Manitoba, Canada. The tenure includes several advanced geophysical and geological targets beyond the A-Plug and EL mining centres (refer Figure 2).

Blackstone and Corazon have also entered a Memorandum of Understanding that will see collaboration on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and / or joint ventures to meet demand from the growing electric vehicle battery industry (MoU). The Equity Investment and MoU together represent the “Corazon Transaction.”

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