Bolt Metals Positioned to Benefit as Copper Set to Join U.S. Critical Minerals List
Bolt Metals Positioned to Benefit as Copper Set to Join U.S. Critical Minerals List
Vancouver, B.C. – November 26, 2024 – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE:
BOLT) (FRANKFURT: A3D8AK) (OTCQB: PCRCF) welcomes the recent passage of the Critical
Mineral Consistency Act 2024 by the U.S. House of Representatives, which officially designates
copper as a critical mineral2. With Senate approval, this development should strengthen the
strategic significance of Bolt Metals’ Soap Gulch project in Montana and open up new
opportunities to accelerate exploration and development.
The inclusion of copper on the U.S. critical minerals list reflects its essential role in powering the
clean energy transition, electrifying transportation, and supporting domestic manufacturing. This
landmark decision would grant copper-focused projects eligibility for the FAST-41 permitting
process, investment incentives, and increased federal support —all of which are pivotal to
ensuring a stable, domestic copper supply chain 1,2.
“Copper’s designation as a critical mineral underscores the growing recognition of its importance
to both national security and the green energy future,” said Branden Haynes, CEO of Bolt Metals.
“Our Soap Gulch project is well-positioned to benefit from this shift, with its potential for additional
copper discoveries in one of the more mining-friendly regions of the U.S.”
Soap Gulch: A Strategic Asset for U.S. Copper Potential
Located in Montana, Soap Gulch offers favorable geology and historic copper occurrences,
making it a prime target for exploration and development. Historical results at Soap Gulch,
include:
• 1.2% copper, 0.036% cobalt, and 200 ppb gold over 11.7 metres of massive sulfides in
DH WCC-43; and
• Up to 4.7% copper, 0.07% cobalt, and 2.3 g/t gold in trenches advanced by BHP-Utah3.
As the U.S. seeks to reduce its reliance on foreign imports and address an anticipated global
copper supply gap of nearly 10 million metric tons over the next decade, Bolt Metals’ commitment
to advancing Soap Gulch, could if successful, play a role in meeting domestic and international
demand.
The Critical Mineral Consistency Act provides significant advantages for copper projects,
including2:
• Accelerated Permitting: Eligibility for the FAST-41 process to streamline project
timelines and reduce regulatory hurdles.
• Investment Incentives: Opportunities for federal subsidies, grants, and financing to
support domestic mineral development.
• Enhanced National Security: Greater government focus on securing domestic supply
chains, reducing reliance on foreign sources.
Growing Demand for Copper: A Global Opportunity
A recent report from BHP, the world’s largest mining company, forecasts copper demand to grow
at an average rate of 2.6% annually through 2035, reaching over 50 million metric tons per year
by 2050. This surge in demand is driven by copper’s essential role in renewable energy, EVs, and
energy storage technologies4.
Industry leaders have praised copper’s inclusion as a critical mineral. Adam Estelle, CEO of the
Copper Development Association, stated: “This vote highlights copper’s essential role in powering
America’s energy future, electrifying transportation, creating jobs, and strengthening
infrastructure. This is a significant win for U.S. manufacturing, the clean energy transition, and our
nation’s global competitiveness5.”
About Bolt Metals
Bolt Metals is a forward-thinking company focused on discovering and developing high-grade
copper and critical mineral assets in tier-1 jurisdictions. Through a disciplined approach to low-
cost M&A and efficient project evaluation, we leverage our in-house expertise and catalyst-driven
priorities to unlock significant value in response to the growing demand for electrification and
renewable energy. Our flagship projects, Soap Gulch and Switchback, highlight the potential for
high-grade discoveries that align with the energy transition.
Bolt Metals Corp.
Branden Haynes – Director and CEO
(604) 817-1595
1 “Copper set to be officially listed as critical mineral in US ”; November 18, 2024 ;
https://theoregongroup.com/commodities/copper/copper-to-be-officially-listed-as-critical-mineral-
in-us/
2 “H.R.8446 - Critical Mineral Consistency Act of 2024”; November 18, 2024;
https://www.congress.gov/bill/118th-congress/house-bill/8446
3 Information in this press release is based on the January 3, 2019, NI 43-101 Technical report
for the Soap Gulch Property, Silver Bow County & Madison County, Montana, USA authored by
Dean Besserer B.Sc., P. Geol. Until the original historic data has been recovered and/or archived
drill core can be re-logged, photographed and sampled, the historic intercepts should not be relied
upon. The company has not completed any quality assurance program or applied quality control
measures to the historical data.
4 “BHP Insights: how copper will shape our future”; September 30, 2024
https://www.bhp.com/news/bhp-insights/2024/09/how-copper-will-shape-our-future
5 “Copper Development Association Applauds House Passage of HR 8446, the Critical Mineral
Consistency Act”; November 14, 2024; https://copper.org/about/pressreleases/2024/copper-
development-association-applauds-house-pass.php
Reader Advisory
This news release may contain statements which constitute “forward-looking information”. The
words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect”, and similar expressions, are intended to identify such forward -looking
statements. Such statements include, without limitation, statements regarding Soap Gulch
project’s strengthened strategic significance, new opportunities to accelerate exploration and
development, being well-positioned to benefit from the shift to copper’s designation as a critical
mineral, and the potential for additional copper discoveries Soap Gulch. Investors are cautioned
that any such forward-looking statements are not guarantees of future business activities and
involve risks and uncertainties, and that the Company’s future business activities may differ
materially from those in the forward-looking statements. There can be no assurances that such
information will prove accurate and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. The Company does not assume any obligation to update any forward -
looking information except as required under the applicable securities laws.
The Canadian Securities Exchange has not approved or disapproved this news release.