Boron One Elaborate Approval Process Update
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BORON ONE HOLDINGS INC.
NEWS RELEASE – for immediate release
Boron One Elaborate Approval Process Update
October 4, 2023
Victoria, BC /Accesswire/
Boron One Holdings Inc. (“Boron One” or the “Company”) [TSXV: BONE], a company dedicated to the
decarbonization of Planet Earth through the responsible utilization of its boron assets, is pleased to
report that its study titled, “Geological Elaborate on Resources and Reserves for the Piskanja Boron
Project” (the “Elaborate”) has undergone a review by an independent commission of local mining
experts (the “Commission”), who is tasked by the Serbian Mining Ministry with vetting projects which
are seeking its approval for a mineral exploitation license. Review and approval of the Elaborate by
the Commission is a requisite step in the exploitation licensing process.
In its written decision to the Company , t he Commission ha s requested that certain additional
information be included in the study, in the form of an Annex to the Elaborate. The Company has
30 days to submit the Annex for further review.
“We are pleased to be nearing the end of the vetting process for the Elaborate ,” said Tim Daniels,
President of Boron One. “It is not unusual for the Commission to request additional data, as they
have done in our case. For the most part, t he additional studies and analysis requested by the
Commission have already been completed as part of our feasibility study workflow. That
information is now being repurposed in the Elaborate as an Annex, and will be ready for submission
to the Commission shortly.”
Specifically, the Commission has requested the addition of a technological analysis of the minerals
from the Piskanja deposit (i.e. metallurgical testing and beneficiation workflows), the impact of such
metallurgical findings on the Piskanja project economics, and a modified resource calculation (if and
as needed) re-classifying the economically minable tonnage (as may be impacted by any
modification to the effective cutoff grades and minable thicknesses, as a result of the metallurgical
work results). Lastly, the Commission requested an amended technical-economic assessment of the
resource at Piskanja based on the inclusion of these obtained/calculated factors , including an
updated graphic presentation of the mineral bodies.
About the Piskanja Boron Project
Piskanja is Boron One Holdings Inc.’s wholly owned boron deposit with a Measured Mineral
Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48
million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resourc e of 284.7 thousand
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tonnes (averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining
Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in the
Company’s report titled, “Technical Report and Preliminary Economic Assessment For The Piskanja
Borate Project, Serbia, June 24, 2022”. The responsible person for the PEA and the Mineral Resource
Estimate contained within, is Prof. Miodrag Banješević PhD. P.Geo, EurGeol, a Qualified Person in
accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards),
and independent of Boron One Holdings Inc.
On behalf of the Board of Directors,
Tim Daniels
About Boron One Holdings Inc. (formerly known as Erin Ventures Inc.)
Boron One Holdings Inc. is an international mineral exploration and development company with
boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Boron One’s shares are traded on
the TSX Venture Exchange under the symbol "BONE". For detailed informati on please see Boron
One's website at www.boronone.com or the Company's filed documents at www.sedar.com.
For further information, please contact: Boron’s Public Quotations:
Blake Fallis, General Manager TSX Venture: BONE
Phone: 1-250- 384-1999 or 1-888-289-3746 Berlin: EKV
[email protected] US: SEC 12G3-2(B) #82-4432ERVFF
www.boronone.com OTCBB: ERVFF
Qualified Persons
Nenad Rakic, EurGeol, Piskanja Proj ect Field Manager, a qualified person as defined by NI 43 -101,
has reviewed the technical information that forms the basis for this news release, and has approved
the disclosure herein.
Neither the TSX Venture Exchange nor its Regulation Services Provide r (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For Boron One Holdings Inc. Investors
Certain statements made in this press release that are not based on histori cal information are
forward-looking statements that involve substantial known and unknown risks and uncertainties.
This press release contains express or implied forward-looking statements relating to, among other
things, Boron One’s expectations concernin g management's plans, objectives and strategies,
including its plans for advancing the Company's Piskanja Project through to an exploitation license.
These statements are neither promises nor guarantees but are subject to a variety of risks and
uncertainties, many of which are beyond our control, and which could cause actual results to differ
materially from those contemplated in these forward-looking statements. Existing and prospective
investors are cautioned not to place undue reliance on these forward -looking statements, which
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speak only as of the date hereof. Factors that could cause actual results to differ materially from
any forward-looking statement include, but are not limited to, failure to convert estimated mineral
resources to reserves, capital and operating costs varying significantly from estimates, the
preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the development of projects and the
other risks involved in the mineral exploration and development industry.
Boron One Holdings Inc. undertakes no obligation to update or revise the information contained in
this press release, whether as a result of new information, future events or circumstances or
otherwise except as expressly required by applicable securities law. Further information regarding
the uncertainties and risks can be found in the disclosure documents filed by Boron One with the
securities regulatory authorities, available at www.sedar.com. These and other factors made in
public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.
"Inferred Resources" have a great amount of uncertainty as to their existence, a nd economic and
legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral
resource reported in this news release will ever be upgraded to a higher category or to reserves.
U.S. persons are advised that while mineral resources are recognized under Canadian regulations,
the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also
cautioned not to assume that all or any part of an inferred mineral resource is economically or
legally mineable.