Coniagas Battery Metals Inc. announced the identification of promising, offshore source material for evaluation and processing using advanced Re-2Ox hydrometallurgical process. This marks a significant step towards goal of establishing a full-scale production facility in Quebec, in collaboration with SGS in Quebec City, to enhance technological readiness. After gathering extensive market intelligence, the company and its associated stakeholders concluded that gaining access to reliable and long-term feed contracts was the most pressing priority in building a critical metals supply chain.

This "Feed first" strategy sets Coniagas apart from competitors and will place it on track to build more robust relationships with downstream partners in the battery manufacturing and high technology sectors, who are the end-users of these materials. The company have currently identified six stockpile opportunities, with a total estimated tonnage of approximately 29.03 million tonnes, averaging grades of 1.5% copper (Cu) and 0.5% cobalt (Co). The stockpiles vary in size from 60,500 tonnes to 20 million tonnes, with copper grades ranging from 1% to 6.5% and cobalt grades from 0.05% to 4.5% (Congo Tailings Company S.A.S. in the Democratic Republic of the Congo).

As these tonnages and grades are historical in nature and do not have a technical report to support them, they are not considered current and should not be construed as a resource. The company has not done sufficient due diligence for these numbers to be relied upon. Coniagas has received a 25-kilogram sample from one of the stockpiles for assay purposes.

The company will be releasing the copper and cobalt assays shortly. The preliminary findings will highlight the potential for high-grade material within the stockpiles. Additional due diligence will be conducted to confirm the grades profiles with additional and more robust sampling followed by on-site inspection if warranted.