Canadian Critical Minerals Executes Facilities Agreement with BC Hydro for Bull River Mine
Canadian Critical Minerals Executes Facilities
Agreement with BC Hydro for Bull River Mine
Calgary, Alberta--(Newsfile Corp. - January 25, 2023) - Canadian Critical Minerals Inc.
(TSXV: CCMI)
(OTCQB: RIINF) (FSE: 2ZR)
("
Canadian Critical Minerals
" or the "
Company
") hereby announces
that it has executed
a
Facilities Agreement ("FA") with British Columbia Hydro and Power Authority
("BCH") for its Bull River Mine ("BRM") project near Cranbrook, British Columbia.
The FA was
completed following a Facilities Study ("FS") by BCH to define interconnection requirements and
establish a timetable for BCH's ability to meet the Company's proposed service date. The reconnection
is scheduled to be completed on or before June 30, 2023.
The BRM project is currently connected to BCH through a 12.47kV service line which provides up to
2,000 kVA in contract demand which is sufficient to continue with care and maintenance activities
including dewatering of the underground mining infrastructure.
Under the new FA, BCH will reconnect the
Company to an existing 66kV transmission line which will provide up to 5,000 kVA in contract demand to
the property.
The increased demand is required for the Company to restart the mill and resume
underground mining operations.
The new transmission interconnection provides for reductions in energy
and demand charges relative to the current unit rates.
BCH's estimate for system reinforcements and
revenue metering associated with the reconnection is $150,000.
The cost estimate has an accuracy
range of +35%/-15%.
Ian Berzins, President and CEO commented, "To-date reconnection to the 66kV transmission line has
been delayed pending delivery of some key electrical components including switchgear.
All key
components have now been secured.
We look forward to working with BCH to complete the
reconnection."
About Canadian Critical Minerals Inc.
Canadian Critical Minerals Inc.is a mining company primarily focused on the development of two near-
term copper production assets in Canada. The Company's main asset is the 100% owned Bull River
Mine project (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource
containing copper, gold and silver. The Company's latest acquisition is the 100% owned Thierry Mine
project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing
copper, nickel, silver, palladium, platinum and gold.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E:
Website:
www.braveheartresources.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward-looking information includes, but is not limited to,
statements about strategic plans, future work programs and objectives and expected results from such
work programs. Forward-looking information necessarily involve known and unknown risks, including,
without limitation, risks associated with general economic conditions; inability to access sufficient
capital from internal and external sources, and/or inability to access sufficient capital on favourable
terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or
implied by such forward-looking information and the risks identified in the Company's continuous
disclosure record. There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward-looking information. All forward-
looking information contained in this news release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to management as at the date
hereof. The Company disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/152467