Inomin Mines Inc. reported 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. Summary of Study: Ultramafic rocks like those that host magnesium and nickel-rich mineralization at Beaver can be among the large carbon capture and storage reservoirs on Earth.

Ultramafic mine tailings can be reactive to CO2 and 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.

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.

On June 27, 2022, the proprietary technology is being taken from the lab into the field by spin-out company Carbin Minerals Inc., for real-world, carbon dioxide removal, at scale. In April the company was awarded USD 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 CO 2 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.

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 great 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 large 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 mineralization leaving 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.