BWR Exploration Inc. Receives Second Tranche of Funding from Manitoba Mineral Development Fund
BWR Exploration Inc. Receives Second Tranche of Funding
from Manitoba Mineral Development Fund
Highlights:
• Manitoba Mineral Development Fund (“MMDF”) approves $100,000 second
instalment, one further instalment left to follow as the project progresses through 2023.
• Manto Sipi Cree Nation (“MSCN”) Chief and Council consent to BWR commencing
soil remediation program at Little Stull exploration camp.
Toronto, Ontario – October 17, 2022 – BWR Exploration Inc. (the “Company” or “BWR”) (TSX.V:
BWR) is pleased to announce th at the second tranche of funding as outlined in the “Contribution
Agreement” dated October 25, 2021 with MMDF Corporation has been approved for release. Upon
receipt of the second $100,000 tranche BWR will have received $200,000 of the total $300,000 grant
from the Manitoba Mineral Development Fund (“MMDF”) , details of which were previously
announced on January 7, 2021. MMDF further advised that the Contribution Agreement for the third
and final tranche has been extended until March 31, 2023, provided certain conditions are met. In
addition, BWR has recently received authorization to proceed with a soil remediation program upon
receipt of the plan after it has been shared with the leadership of Manto Sipi Cree Nation.
Use of Proceeds from MMDF : The first tranche p roceeds of $100,000 received last fall from the
MMDF grant facilitated a baseline clean-up program at BWR’s existing exploration camp located at
Little Stull Lake in NE Manitoba. Thirty-five soil samples were submitted for hydro-carbon analysis;
a small surficial area (~3m by ~ 25m by ~0.2m deep) was identified as being of concern . The soil
samples were collecte d from the camp site (1 hectare) on 25-meter centers; the results outlined a
relatively small area of elevated hydrocarbons in soil, where empty fuel drums had been previously
stored. The results were reported in a Soil in Hydroca rbon Report (“Soil Report”) to MSCN Chief
and Council in January 2022 , then forwarded to Manitoba Ministry of Natural Resources and
Northern Development (“MNRND”) as request by the Chief at the time . The Soil Report was
reviewed by Manitoba Department of Environment, Climate and Parks (“MECP”), in late June, 2022.
MECP requested the Soil R eport be peer reviewed by an independent environmental consulting
group. The MECP letter was submitted to leadership of MSCN for review, meanwhile, BWR retained
Pinchin Ltd., an environmental consulting firm with offices in Winnipeg , to peer review the Soil
Report and develop a remediation plan.
Authorization to Proceed: In late September, 2022, BWR received authorization from leadership
of MSCN to engage in limited activities on their Ancestral Land at Little Stull Lake . In the
authorization communique, BWR was requested to engage Pinchin Ltd. to complete a peer review of
the Soil Report and prepare recommendations for a r emediation plan . BWR engaged Pinchin on
September 30. Their Peer Review Report (“PR Report”) is expected before the end of October. MSCN
further advised that after their review of the PR Report , BWR could proceed with the clean -up
remediation as recommended by Pinchin and authorized by MECP. BWR was further authorized to
complete minor repairs and some camp maintenance at the site to prepare it for the onset of winter.
BWR is currently planning a short work program, which would commence following community
consultations, if MSCN agrees; BWR is targeting late Fall 2022 for the commencement of the work
(the soil remediation and camp repairs/maintenance).
Work Permit update : BWR’s 202 3 exploration proposal involves diamond drilling several
exploratory holes; the start of this early-stage exploration program is contingent upon following the
Consultation Protocol Roadmap as agreed to between MSCN and the Crown , and receiving the
required permissions from the Crown in consultation with the leadership of MSCN as well as the
community. Part of the Roadmap includes BWR meeting with leadership of MSCN followed by “in-
community meetings”. In this regard, BWR attended a meeting in Winnipeg with MSCN leadership
on October 13, and an in-community meeting is scheduled for October 17 involving Community
members, Community Leadership, representatives of the Crown (MNRND) and BWR . BWR
anticipates that the in-community meeting should open the door for entering into an early -stage
exploration agreement with MSCN; the terms of this agreement would be subject to the outcome of
the community consultations.
About BWR Exploration Inc.: BWR Exploration Inc. is a public company focused on exploring for base
and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other
exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an
accomplished g roup of exploration/mining specialists with many decades of operational experience in the
junior resource sector in Canada and abroad. There are 101,442,461 shares currently issued.
Neither the Toronto 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 information about BWR Exploration Inc. please visit our website: http://www.bwrexploration.com
or call/email:
Neil Novak, P.Geo., President, CEO & Director,
BWR Exploration Inc.
82 Richmond St. E, Toronto, ON M5C 1P1
Office (416) 848 6866
For additional information regarding BWR please contact:
Carl Desjardins,
Paradox Investor Services Inc.
Office: 514-341-0408