Battery Mineral Resources Corp. Provides Corporate Updates Status of 2024 Filings and Quarterly Filings Copper Concentrate Production and Outlook ESI Energy Services Performance and Outlook
Battery Mineral Resources Corp. Provides Corporate Updates
Status of 2024 Filings and Quarterly Filings
Copper Concentrate Production and Outlook
ESI Energy Services Performance and Outlook
Vancouver, British Columbia – (June 30, 2025) – Battery Mineral Resources Corp. (TSXV:
BMR) (OTCQB: BTRMF) (“ Battery” or “BMR” or the “Company”) is pleased to share several
important updates with its shareholders.
Laz Nikeas, CEO of BMR, shared the following update on the company’s operations and
financial filings:
“The Company’s 2024 annual filings and Q1 2025 filings, although delayed, are expected to
be completed imminently. We appreciate our shareholders’ patience during this process.
We are pleased to share an update on our growing copper production at the Punitaqui Project
in Chile, as well as an update on the strong performance of ESI Energy Services Inc. (“ESI”),
our wholly owned provider of specialized equipment to the energy industry.
BMR is a unique platform amongst the numerous exploration and development companies
on the TS XV. We own three key assets: a mid -sized producing copper mining complex and
concentrate facility in Punitaqui, Chile; a rapidly growing cash flowing energy services
business based in Phoenix, Arizona; and a large exploration land package of mineral claims
in North America. Our primary focus over the past few years has been to define and grow
resources in our Chilean copper project and to restart operations , both which w ere
successfully accomplished in 2024. Our current focus is to maximize the throughput of ore
through our concentrate facility to generate cash flow s. We cur rently have two mines
operating, Cinabrio and San Andres, and we are targeting to be operating an additional two
mines later this year and into next year, Cinabrio Norte and Dalmacia. The copper market is
very strong, and we are benefitting from many favorable trends, including significantly lower
treatment and refining charges as the market is structurally short concentrate. The Punitaqui
Project has been mining ore and producing concentrate from our own ore bodies for
approximately 9 months now and we are beginning to see consistent improvements in our
mining rates and concentrate sales. In addition, ESI finished 2024 with record revenue and
EBITDA and we see continued growth over the next few years as ESI introduces new products
to the market. I would like to thank both the leadership teams at Punitaqui and ESI for all of
their hard work and focus.
We look forward to providing further positive updates to shareholders in the near-term.”
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Annual and Quarterly Filings
BMR has been progressing towards completing its 2024 audited annual filings (“Annual
Filings”) as well as its Q1 2025 unaudited financial statements and Management’s Discussion
and Analysis (“Q1 Filings” ) and anticipates submitting the Annual Filings to SEDAR+ on or
about July 3rd, 2025, and the Q1 Filings shortly thereafter.
The Company has been delayed in making the Annual Filings (see press release dated May
7th, 2025) in large part due to the additional analyses required in accounting for certain
financing and other transactions which occurred in 2024, as well as certain tax adjustments.
The delay in making the Annual Filings is not related to the accounting for any core financial
aspects of the business , such as its revenues, operating costs, or its cash or debt position.
The delay in the Q1 Filings is due to the fact that such filings can only be made following the
completion of the Annual Filings.
A news release will be issued once the filings have been submitted. Following the filing of the
Annual Filings and the Q1 Filings , the Company expects that the cease trade order ( CTO)
currently in place with respect to trading in the Company’s common shares will be revoked
within one to two business days (in Canada), as is the customary practice.
The Company thanks its shareholders for their continued patience as we finalize the
outstanding filings. Management and the Board are working diligently to complete the process
as quickly as possible.
Max Satel, CFO of BMR, commented: “The Company is undertaking a review of its financial -
reporting systems and processes, and is also working closely with its external auditors to
streamline their review cycle, with the objective of ensuring that future filings are submitted
within the statutory reporting deadlines.”
Copper Concentrate Production and Outlook
During the period from January 1st to June 24th, 2025, the Company shipped a total of 7,533
dry metric tonnes (DMT) of copper concentrates, all produced at the Punitaqui flotation plant.
The concentrates averaged 22.6% copper, amounting to approximately 3,753,273 pounds of
contained copper.
• Punitaqui production and sales – 6,700 DMT were sourced directly from the
Company’s Punitaqui mines, processed at the Company’s Los Mantos mill, then
trucked ~130 km along paved, all -weather roads to Terminal Portuario de Coquimbo
(TPC).
• Material processed under the Anglo Offtake Agreement – The remaining 833 DMT
originated from copper -smelting slags supplied by Anglo American Sur S.A. (“Anglo”)
under the existing Offtake Agreement. These concentrates were delivered to Anglo’s
Chagres smelter in Catemu, Chile.
This steady cadence of production and deliveries underscores the reliability of Punitaqui
operations while continuing to fulfill commitments under the arrangement with Anglo.
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The Company continues to make steady progress with regards to increasing its mine
production and increasing the availability of the Los Mantos mill. In recent months,
management has implemented several initiatives to improve the performance of underground
mining equipment and increase ore extraction rates , as well as improving mill performance
through maintenance programs. In the month of June 2025, the Punitaqui mines delivered
several days of mining rates in excess of 2,000 tonnes of ore per day, indicating a monthly
run-rate of approximately 60,000 tonnes of ore.
The Company’s near -term goal is to increase production from the Punitaqui mines to
approximately 2,000 DMT of copper concentrates per month, and to reach a production rate
from the Punitaqui mines of approximately 2,500-2,700 DMT of copper concentrates per
month by the end of 2025. The continued production of concentrates from the
aforementioned slags, plus potential processing of third -party ores, is expected to further
contribute to an increase in the Company’s overall production.
Performance of ESI Energy Services
BMR is also pleased to share an update on the performance and outlook for its 100%-owned
subsidiary, ESI Energy Services, Inc. Operating under the trade name “Ozzies” and
headquartered in Phoenix, Arizona, the company specializes in providing niche equipme nt
leasing and sales to the renewable and conventional energy sectors. The company designs
and delivers specialized backfill separation machines, sand delivery systems, and vacuum lift
equipment for the oil and gas industry, as well as utility-scale solar and wind farm installations.
Over the past four years, Ozzies has transformed from a rental -only provider of backfill
equipment into a dynamic manufacturer and supplier of specialized energy equipment. This
strategic shift, marked by the introduction of sand delivery and vacuum lift s ystems for the
renewable energy markets, has driven an impressive average revenue growth of 15% annually
and a 35% EBITDA margin in 2024. ESI generated C$16.8 million in revenues in 2024 and
we expect revenues to reach approximately C$20 million in 2025 with similar EBITDA margins
as in 2024. By developing, leasing and selling equipment directly to customers, Ozzies has
strengthened its market position and responsiveness to industry demands.
ESI projects sustained revenue growth of 10-15% per year over the next few years, driven by
an increased focus on international sales and the development of new products as it expands
into new markets within the renewable energy sector, such as battery storage and data
centers. ESI’s commitment to innovation and its agile, direct-to-customer model will continue
to drive its success in the global energy landscape.
About Battery Mineral Resources Corp.
Battery Mineral Resources’ mission is to build a mid -tier copper producer and has recently
initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper -gold-
silver producer, in the Coquimbo region of Chile. The Company’s portfolio also consists of its
100% ownership in ESI Energy Services Inc., other mineral exploration assets located in North
America, and two graphite assets in South Korea. The Company is focused on providing
shareholders accretive exposure to copper and the global mega-trend of electrification while
being focused on growth through cash-flow, exploration, and acquisitions in favorable mining
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jurisdictions. Further information about BMR and its projects can be found on
www.bmrcorp.com.
For more information, please contact:
Lazaros Nikeas, CEO
Phone: +1 (604) 628-1110
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This news release includes certain “forward -looking statements” under applicable Canadian
securities legislation. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from th ose anticipated
in such statements. Forward-looking statements reflect the beliefs, opinions and projections
of the Company on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results,
performance, or achievements to be materially differen t from the results, performance or
achievements that are or may be expressed or implied by such forward -looking statements
and the parties have made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability of the Company to obtain sufficient
financing to complete exploration and development activities, the ability of the Company to
timely complete the Annual Filings and revoke the CTO, risks related to share price and market
conditions, the inherent risks involved in the mining, exploration and development of mineral
properties, the inherent risks involved in the rental and sales of heavy equipment and
machinery, the ability of the Company to meet its anticipated development schedule,
government regulation , and fluctuating commodity prices. Accordingly, readers should not
place undue reliance on forward -looking statements. Battery undertakes no obligation to
update publicly or otherwise revise any forward-looking statements contained herein, whether
as a result of new information or future events or otherwise, except as may be required by
law.