US DoE Adds Copper to Critical Materials Assessment for 2023 to Evaluate Supply Chain Security for Clean Energy Technologies
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*Press Release August 16th, 2023
US DoE Adds Copper to Critical Materials
Assessment for 2023 to Evaluate Supply Chain
Security for Clean Energy Technologies
VANCOUVER, BC — August 16th, 2023 — Majuba Hill Copper Corp. (CSE: JUBA
| OTC: JUBAF | FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased
to update shareholders that the US Department of Energy ( “DoE”) officially added
copper to its list of critical raw materials.
This evaluation examines the importance of specific materials to the worldwide supply
chains for clean energy technologies.
The Company recently announced in a news release on July 26, 2023 that it had filed
National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-
101”) titled “Technical Report for the Majuba Hill Copper Project, Pershing County,
Nevada, USA”, outlining an exploration target of 100,000,000 tonnes with a potential
to host up to 660,000,000 pounds of Copper at the Company ’s Majuba Hill Copper
Project in the state of Nevada. The possibility to expand that target remains open in
all directions of the project.
In the finalized Critical Materials Assessment for 2023, the US Government agency
has for the first-time included copper as a critical material, following the example set
by Canada, Japan, India, European Union, and China. The Critical Materi als
Assessment evaluates materials based on whether they “serve an essential function”
in the production of energy transition technologies such as electric vehicles (EVs),
which will assist the company in attracting investment at the Company’s Majuba Hill
copper, silver and gold District located 156 miles outside Reno, Nevada, USA. It is
also defined as any non-fuel mineral that has a high risk of supply chain disruption.
Alejandro Moreno, Acting Assistant Secretary for the DoE’s Office of Energy Efficiency
and Renewable Energy, said in a statement: “As our nation continues the transition
to a clean energy economy, it is our responsibility to anticipate critical material supply
chains needed to manufacture our most promising clean energy generation,
transmission, storage, and end -use technologies, including solar panels, wind
turbines, power electronics, lighting, and electric vehicles. Ultimately, identifying, and
mitigating material criticality now will ensure that a clean energy future is possible
for decades to come.”
Copper is a major contributor to US economic and national security. Copper demand
projections show the needs will double by 2035, primarily due to plans for the clean
energy transition, electrification and clean water infrastructure. The nation would be
defenseless without electricity and copper’s vital role in its generation, transmission,
and distribution.
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David Greenway, CEO of Majuba Hill Copper Corp., commented, "the vital role of
copper and the significance of its inclusion in the Critical Materials A ssessment,
especially in the context of supply chain security for clean energy technologies is a
testament to the promising potential and significance of Majuba Hill for copper
mining.”
He noted, “Majuba Hill's commitment to enhancing copper supplies becomes even
more critical considering the forecasted copper deficit from 2026 onward. We are
proud of our contributions and excited about the positive trajectory of our endeavors
in Nevada, a top-tier mining jurisdiction."
Majuba Hill Mineral Expansion Plans
The copper block model has revealed significant northeast -southwest corridors
associated with both intermediate (0.05 to 0.5% Cu) and high -grade (>0.5% Cu)
copper mineralization. Copper mineralization remains open in all directions. Recent
geologic mapping to the west and southwest of Conceptual Pits 13, 42, and 56 has
been very successful in delineating prominent northeast and northwest trending
zones.
The Company geologists have determined locations for 15 to 20 core and reverse
circulation (“RC”) holes. Planned drill holes are situated to improve the grade of the
copper mineralization by tightening up the drill spacing adjacent to the favorable
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geology. The primary objective of the drilling is to convert the mineralization from an
exploration target category into the inferred and indicated resource categories.
Qualified Person
The scientific and technical information contained in this news release has been
reviewed by E.L. "Buster" Hunsaker III, CPG 8137, a non -independent consulting
geologist wh o is a "Qualified Person" as such term is defined under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of
latter stage copper and copper/ silver/gold assets. This is in direct response to the
growing worldwide demand and lack of supply for precious metals fueled by the Green
New Deal in the US and most other developed nations with similar programs aimed
at addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper , silver and gold District located 156
miles outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions where government regulations are supportive of mining
operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
On Behalf of the Board of Majuba Hill Copper Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
P: 1 (855) 475-0745
Forward-Looking Statements
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",
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"intends", "estimates", "projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur. Although Majuba Hill Copper Corp.
believes the expectatio ns expressed in such forward -looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in forward looking statements. Forward looking
statements are based on the beliefs, estimates and opinions of Majuba Hill Copper Corp.
management on the date the statements are made. Except as required by law, Majuba Hill
Copper Corp. undertakes no obligation to update these forward -looking statements in the
event that management's beliefs, estimates or opinions, or other factors, should change.
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