Boron One Holdings Inc. Signs Letter of Intent LOI to study and define parameters for strategic cooperation: ✓ for the refurbishment of the Pobrdje Colemanite Mine to improve its efficiency, as well as to extend its economic lifespan.
Page 1 of 4
BORON ONE HOLDINGS INC.
NEWS RELEASE [for immediate release]
Boron One Holdings Inc. Signs Letter of Intent
LOI to study and define parameters for strategic cooperation:
✓ for the refurbishment of the Pobrdje Colemanite Mine to improve its
efficiency, as well as to extend its economic lifespan.
✓ for the inclusion of key regional mining assets that may be repurposed for
use in the development of Boron One’s Piskanja Project.
May 5, 2025
Victoria, BC, Canada [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 wholly owned subsidiary, Balkan Gold d.o. o.
(“Balkan”), has entered into a Letter of Intent with Resavica RKU (“Resavica”), a Serbian
publicly owned mining company. The non-binding Letter of Intent ( the “LOI”) outlines
potential cooperation between the parties regarding th e refurbishment of Resavica’s
Pobrdje Colemanite Mine, as well as the ongoing development at Boron One’s Piskanja
Boron Project.
Balkan holds the boron exploration rights to the Piskanja and Jarandol Basin Project areas
and is actively advancing the project towards exploitation . Whereas in the same geological
basin, Resavica owns and operates the Pobrdje Colemanite (boron) Mine, in addition to
holding certain other mining related infrastructure assets that may be strategically beneficial
to Balkan for its future mining activities, planned in this region.
Balkan and Resavica have agreed that certain synergies exist between the Piskanja and
Pobrdje projects, indicating the mutual benefits of strategic cooperation. As a result , the
parties have entered the LOI to study and define an optimized strategy regarding the
improvement of the efficiency of the Pobrdje Mine, as well as the extension of its economic
lifespan. Additionally, the LOI sets the framework for examining the possible repurposing of
certain of Resavica’s existing infrastructure and other strategic mining assets in the region
for use in the development of the Piskanja Project. The parties are actively engaged in
ongoing discussions and the exchange of technical information in order to define the social,
economic and technical parameters required to complete a binding agreement.
Page 2 of 4
“We are very pleased by this advancement,” said Tim Daniels, President of Boron One. “The
potential for cooperation with Resavica can add significant flexibility to the development
strategies of our boron assets. Additionally, we are proud of a model of private sector-public
sector cooperation that may well prove to be quite beneficial for the various stakeholders
involved in the region, and could be used as a template for other cooperative ventures within
the country.”
Mr. Daniels provides a detailed explanation of the letter of intent, and how the company will
navigate this advancement in an interview viewable here.
###
About the Pobrdje Boron Mine
The Pobrdje Mine is wholly owned by Resavica RKU, located approximately 2.5 km from the
Piskanja deposit within the Jarandol Basin in Southern Serbia , and has been an operating
boron mine for more than a decade . The boron bearing minerals found at Pobrdje include
primarily colemanite with minor howlite. The deposit remains unbounded to the South and
East.
About the Piskanja Boron Project
The Piskanja Project 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
Resource of 284.7 thousand 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.
Boron One Holdings Inc. is a leading company dedicated to advancing the decarbonization
of our planet through the responsible utilization of its wholly owned boron assets in Serbia.
With a commitment to environmental stewardship and sustainability, Boron O ne aims to
play a crucial role in reducing the world’s carbon footprint and supporting a cleaner, greener
future for us all.
Page 3 of 4
Headquartered in Victoria, B.C., Canada, Boron One’s shares are traded on the TSX Venture
Exchange under the symbol "BONE". For detailed information please see Boron One's
website at www.boronone.com or the Company's filed documents at
https://www.sedarplus.ca/.
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 Project 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 Provider (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 historical 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 concerning 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 pr omises 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 prospec tive investors are cautioned not to place
undue reliance on these forward-looking statements, which 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, envi ronmental 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.
Page 4 of 4
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
https://www.sedarplus.ca/. 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, and
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 Exch ange 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.