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Strategic Resources Inc. (TSXV: SR) ("Strategic" or the "Company") announces that it has advanced in the regulatory process to amend its existing environmental permits at Port Saguenay and has received questions from Québec's Ministry of the Environment ("MELCC" or "the Ministry") regarding its application to modify the Company's certificate of authorization to enable a 4‑million‑tonne‑per‑year iron ore pellet plant, as outlined in its March 2024 pre‑feasibility engineering study. As previously disclosed, Strategic has submitted all required environmental documentation and studies to the Ministry to support this amendment.
Strategic Resources plans to construct its iron ore pellet plant at Port Saguenay to capitalize on Québec's low‑cost hydroelectric power and access to natural gas, which together with marine access to the Great Lakes and Atlantic seaborne markets, provides a competitive advantage over existing pellet plant sites in Canada.
Management, together with its external environmental advisors, will now review the questions and prepare detailed responses to ensure compliance with the requirements of the Ministry. The Company intends that the proposed pellet plant meets or exceeds applicable environmental standards and incorporates leading environmental management and monitoring practices. The Company remains on schedule to complete the authorization modification and views receipt of the government's questions as a routine and constructive step in the review process.
The government's review of the amendment is expected to take a few additional months, assuming all questions are thoroughly addressed by the Company and its advisors, and the Company's management team will continue to work closely with regulators to ensure an efficient process.
This news release is being issued in advance of the PDAC 2026 conference taking place from March 1st to 4th in Toronto, where Strategic's management team will be meeting with investors and stakeholders.
Construction of the multi-user electric pipe conveyor system at Port Saguenay is nearing completion, with commissioning planned for the spring and 100% of conveyor modules already installed. The conveyor has been designed to transport numerous products; notably direct reduction grade iron ore concentrate to Strategic's future iron ore pellet plant and will facilitate the export of iron ore pellets to the Company's off-taker and marketing partner.
About Strategic Resources
Strategic Resources (TSXV:SR) is a critical mineral development company focused on vanadium, high-purity iron and titanium; metals needed to decarbonize the global economy. Our main projects are the construction-ready BlackRock Project in Quebec and the previously operated Mustavaara mine in Finland. Phase 1 of the BlackRock Project envisages a 4 million tonne per year high-purity iron ore pelletizer at Port Saguenay, Quebec with full access to the St. Lawrence Seaway. The Company's Head Office is in Montreal, Québec.
Further details are available on the Company's website at https://strategic-res.com/. To follow future news releases, please sign up at https://strategic-res.com/contact/.
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Strategic Resources Inc.
Signed: "Sean Cleary"
Sean Cleary, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.
Although management of the Company believes that the assumptions made and the expectations represented by all forward-looking statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. Strategic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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SOURCE Strategic Resources Inc.
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