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Strategic Resources Inc. (TSXV: SR) (FSE: UI8N) ("Strategic" or the "Company") announced today that it has submitted all responses to the questions received from Québec's Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (the "Ministry") in connection with the proposed modification of the existing Certificate of Authorization for the Company's metallurgical facility at Port Saguenay, which enables the development of a 4 million tonnes (mtpa) per year iron ore pellet plant.
The Company has already obtained a full Certificate of Authorization for the BlackRock Project, including its Metallurgical Plant at Port Saguenay and its mine and concentrator at Chibougamau. In 2025, the Company filed for an amendment to the permitted 1.5 mtpa pellet plant that is a part of the BlackRock Project and has been in a review process with the Ministry to enable the Company to build and operate at 4 mtpa iron ore pellet plant at the same site.
The Company received questions regarding the application from the Ministry earlier this year and has worked closely with its engineering and environmental advisors to prepare detailed, technically supported responses. Strategic has also engaged in technical dialogue with the Innu Nations as part of our existing Development Agreements with the Innu and in keeping with the broader review process and the Company's ongoing commitment to constructive engagement with regulators, First Nations communities and stakeholders.
"The submission of our responses is an important milestone in the environmental amendment process for the Port Saguenay pellet plant project, and we continue to anticipate a positive decision on the Certificate of Authorization amendment in the coming months," said Sean Cleary, Chief Executive Officer of Strategic Resources.
The completion and submission of these responses represent a meaningful step forward for the Port Saguenay pellet plant. While the timing and outcome of the regulatory process are subject to the Ministry's discretion and applicable requirements, Strategic believes that delivering thorough and timely responses helps reduce project execution risk associated with the permit amendment and supports the Company's broader development plans for Phase 1 of the BlackRock Project.
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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