Tests Demonstrate Carbon Capture Potential of Inomin's Beaver Critical Minerals Project

Tests Demonstrate Carbon Capture Potential of Inomin's Beaver Critical Minerals Project

Property's Magnesium-rich Composition Key for Greenhouse Gas Mitigation

Inomin Mines Inc. (TSXV: MINE), ("Inomin", "MINE" or the "Company") is pleased to report positive initial test results demonstrating the potential for carbon capture and storage at its Beaver critical minerals project (magnesium-nickel-chromium-cobalt) in south-central British Columbia. The tests, carried-out by researchers at the University of British Columbia ("UBC"), demonstrate that samples from the Company's 2021 critical mineral discovery, contain key minerals that sequester carbon dioxide (CO2.) from the atmosphere.

Key Findings

  • Beaver samples contain magnesium-rich minerals such as brucite and hydrotalcite group minerals that react quickly with CO2 in the atmosphere
  • 60% of analysed samples contain moderate to substantial levels of brucite, a form of magnesium key to carbon capture and storage
  • Beaver tailings are good candidates for CO2 capture using techniques developed by UBC

John Gomez, President of MINE, states, "The test results are an exciting, important, value-add for our Beaver project. To put the results in perspective, most minerals are hardly reactive with CO2 so appreciable carbon storage is not possible. Brucite is the key mineral for carbon capture as it reacts with carbon dioxide, and 1% - 2% weight (wt) brucite content is considered significant. Beaver samples contain up to 11% wt brucite which is very substantial. UBC's findings add to Beaver's positive attributes, in short, a green, district-scale, critical minerals project that is just emerging. We look forward to continuing to assess Beaver's carbon mineralization possibilities, and completing further drilling to unearth our significant discovery."

Summary of Study

Ultramafic rocks like those that host magnesium and nickel-rich mineralization at Beaver can be among the largest carbon capture and storage reservoirs on Earth. Ultramafic mine tailings can be reactive to CO2and therefore have the potential to reduce or eliminate the greenhouse gas (GHG) footprint of mine operations.

The Carbon Mineralization Lab (CarbMin Lab) at UBC assessed the mineral content of select Inomin's samples for the potential for carbon storage and capture. A total of 28 samples were analyzed from drill core from Inomin's 2021 drilling program (results reported March 29, 2022). The samples were selected to be representative of samples across the entire spectrum of the Company's drilling program. In general, the drill holes targeted magnetite associated with serpentinization over a strike length of approximately 5 km. None of the samples are contiguous and essentially reflect the ultramafic body the drilling intersected. In most cases, nickel-magnesium mineralization and serpentinite occurrences are open at depth.

Analysis by CarbMin Lab found that Beaver samples contain key magnesium-rich minerals that are known to react quickly with CO2 in air such as brucite and hydrotalcite group minerals. Notably, 19 of 28 samples contain moderate to high (up to 11% wt) brucite, a form of magnesium able to create carbon capture and storage. Based on the presence of brucite in 60% of the analyzed samples, and high serpentine contents in all analyzed samples, CarbMin Lab concluded there is potential for direct capture of CO2 from air in the form of Beaver tailings.

On the basis of the positive test results, CarbMin Lab recommends further assessment of the Beaver project for carbon mineralization.

Carbon Mineralization

Led by Dr. Greg Dipple, UBC has been at the forefront of carbon mineralization (carbon capture and storage) technology since 2005. Today the proprietary technology is being taken from the lab into the field by spin-out company Carbin Minerals Inc., for real-world, carbon dioxideremoval, at scale. In April the company was awarded US$1 million from a U.S. organization that has the backing of the Elon Musk Foundation. This year, Carbin Minerals signed its first contract with Ottawa-based Shopify to remove 200 tonnes of CO2 from the atmosphere as part of Shopify's corporate social responsibility plan.

Carbon mineralization sequesters carbon dioxide, a greenhouse gas, via the reaction of CO2 with alkaline earth metal-bearing silicate and hydroxide minerals to form carbonate minerals that store CO2 in a stable form. During the mining process, a significant amount of rock material must be removed and processed (tailings) in order to access valuable commodities below the surface. The carbon mineralization process can utilize the enormous amount of tailings produced by the mining industry to drawdown CO2 and safely store it for millions of years (Figure 1).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3069/128988_85e5996b64c47883_001.jpg

Figure 1. Certain mine tailings can permanently remove CO2 directly from the atmosphere through a process known as carbon mineralization. CarbMinLab have developed proprietary technologies to optimize and accelerate the process, creating the potential for gigaton-scale capture and permanent storage of atmospheric carbon dioxide. Illustration by Sterling Vanderzee.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3069/128988_85e5996b64c47883_001full.jpg

Thus in addition to supplying critical minerals to power electric vehicles and green technologies, carbon capture is another way mining can play an important part to fight climate change. Carbon capture and storage is also beneficial to mine owners and ESG-conscious investors. A substantial reduction in greenhouse gas emissions could enable mines to become carbon neutral and lower operating costs. Even greater emission reductions could create carbon negative mines and the opportunity to generate carbon credits - the "holy grail" for mining operations and green investment.

The Beaver Property

The Beaver property comprises the 7,582 hectare (ha) northern claim block of Inomin's Beaver-Lynx project, collectively approximately 20,000 hectares. Beaver is ideally located in south-central British Columbia, 50 kilometres from the town of Williams Lake and just 15 kilometres east of the Gibraltar mine, one of the largest open-pit copper mines in Canada. Beaver is easily accessible by paved roads with hydro-electric power nearby. The Company owns a 100% interest in the project with no royalties.

Inomin's inaugural 2021 drilling program at Beaver generated a significant discovery of high-grade magnesium and other critical minerals including nickel, chromium, and cobalt.

Drill-hole B21-02 intersected 252.1 metres (827 feet) grading 20.6% magnesium, 0.16% nickel, and 0.33% chromium. B21-02 is the longest mineralized hole ever drilled at Beaver, and the first-ever drilling in the Spur zone, one of four mineralized zones on the eastern side of the property covering a 7 kilometre-long strike length.

The Company's drilling at Beaver hit substantial near-surface mineralization in all drill holes.Furthermore, all holes ended in mineralizationleaving the discoveries open to extension at depth.

The 12,662 ha Lynx block is geologically similar to Beaver with even larger mineral targets as defined by magnetics.

Given the positive drill and carbon capture test results - plus district size - the Beaver-Lynx project has the potential to be among the world's largest greenest deposits of high-grade magnesium and other critical minerals.

Inomin Mines Director, L. John Peters, P.Geo, a qualified person as defined by NI43-101, has reviewed and approved the technical information in this news release.

About Inomin Mines

Inomin Mines is focused on the acquisition and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. Inomin owns a 100% interest in the Beaver-Lynx magnesium-nickel-chromium-cobalt project in south-central British Columbia. The Company holds the La Gitana and Pena Blanca gold-silver properties in Mexico, and the Fleetwood zinc-copper-gold-silver VMS project in south-west British Columbia. Inomin also holds a royalty on the King's Point gold-copper-zinc project in Newfoundland owned by Maritime Resources Corp. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.

On behalf of the board of Inomin Mines:

Inomin Mines Inc.
Per: "John Gomez"
President and CEO

For more information please contact:

John Gomez
Tel. 604.566.8703
info@inominmines.com

Forward Looking Statements:

The test results reported in this news release are preliminary in nature and may not be representative of the mineralization in other areas of the Beaver property, as well as results or conditions in an operating environment. This news release contains certain statements that may be deemed "forward-looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128988

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Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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