Coniagas Battery Metals Announces Positive Initial Copper-Cobalt Sample Results As It Advances Evaluation of Offshore Stockpiles Amid a booming market, Coniagas is exploring offshore copper and co balt oppor tunities for processing in Qu ebec , a strategic gateway to the emerging
Coniagas Battery Metals Announces Positive Initial Copper-Cobalt
Sample Results As It Advances Evaluation of Offshore Stockpiles
Amid a booming market, Coniagas is exploring offshore copper and co balt
oppor tunities for processing in Qu ebec , a strategic gateway to the emerging
North American EV industry
Vancouver, BC – May 30, 2024 – Coniagas Battery Metals Inc. (TSXV: COS) (“Coniagas” or the
“Company”) is excited to announce significant initial sample results, showcasing encouraging copper
and cobalt grades from the offshore stockpiles identified for eva luation using the Re -2Ox
hydrometallurgical process. This development marks an essential step in our mission to become a
leading supplier of critical battery metals for the North American electric vehicle (EV) industry.
The preliminary assays reveal copper and cobalt concentrations of 1.76% Cu and 0.36% Co from one of
the identified stockpiles containing 3,000,000 tonnes , highlighting the potential for high -grade
materials. These results reinforce the urgency of further detailed analysis and underscore our strategic
focus on securing quality feedstock for our domestic operations.
Strategic Importance and Industry Context
As China continues to dominate the global clean energy manufacturing sector, accounting for a
staggering 85% of the world’s investment in this area in 2022, Coniagas’ efforts to localize production
and secure a reliable supply chain are crucial, according to The New York Times. The strategic location
of our full production facility in Quebec will leverage the province’s robust infrastructure, green power,
and access to critical ports, positioning Coniagas at the forefront of North America’s EV battery supply
chain revolution.
Our feed-first approach not only ensures the consistency and quality of materials but also aligns with
broader geopolitical efforts to reduce reliance on Chinese imports. Recent industry reports highlight
the significant challenges posed by China’s control over 70% of the planet’s lithium refining capacity
and up to 95% of production for other crucial EV battery materials, as detailed by Bloomberg. By
developing a domestic loop using recycled critical metals, Coniagas is poised to help disrupt this
dependency and foster a more sustainable and secure supply chain.
Coniagas Battery Metals Inc.
550 Burrard St. Suite 2900
Vancouver, B.C. V6C 0A3
Coniagas.com
Comments from Leadership
Frank Basa, P .Eng., Order of Engineers Ontario, President and CEO of Coniagas, emphasized, “Our feed-
first strategy is crucial in establishing Coniagas as a key player in refining and processing high-grade
copper, nickel, and cobalt products. This includes producing cobalt sulfate for the expanding domestic
EV cell manufacturing market, a sector that is essential for reducing our dependence on Chinese
imports.”
Matthew Halliday, P .Geo., Qualified Person (QP) for Coniagas, added, “The upcoming steps in our
evaluation process are designed to ensure the quality and consistency of our stockpile materials. Our
collaboration with SGS in Quebec is vital for advancing the Re-2Ox process towards pilot and full-scale
production.”
Commitment to Sustainability and Innovation
Coniagas remains dedicated to advancing its strategic vision of becoming a leading supplier of critical
battery metals. Our approach not only addresses immediate supply chain vulnerabilities but also
contributes to the long-term sustainability of the EV industry. As highlighted in recent discussions from
The Information, ethical sourcing and stringent environmental standards are essential strategies for the
West to compete with China’s dominance in battery production. Our initiatives are geared towards
fostering a responsible and ethical supply chain that meets the highe st environmental and labor
standards, positioning Coniagas as a leader in sustainable battery metal production.
Qualified Person
The technical information in this news release was reviewed and approved by Matthew Halliday,
P .Geo., member of the Ordre des Géologues du Québec, who is a Qualified Person in accordance with
National Instrument 43-101.
Quality Control and Reporting Protocols
The assay results are from OnSite Laboratories in Cobalt, Ontario. The material is crushed to 75%
passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200
mesh) and analyzed by Aqua Regia with an Atomic Absorption Spectrometry (AAS) finish. All samples
were run in replicate, and CRMs were included for Cu and Co.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper, cobalt,
and platinum group metals in Quebec. Our strategy is to create shareholder value through the
development of our mineral properties, with the goal of becoming a critical metals supplier to the EV
market.
Coniagas has achieved notable success with geophysics and shallow drilling at its 100% owned Graal
project near Saguenay, Quebec, consistently hitting mineralization. This success has confirmed an
open-pit deposit model along a 6 km strike of high-grade nickel and copper, with cobalt, platinum, and
palladium byproducts. Upcoming plans include further drilling, a Ni 43 -101 resource report,
metallurgical testing, and consultations with First Nations. The Graal project and immediate work plan
are outlined in detail in the “NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-
St-Jean, Quebec, Canada” dated January 17, 2024. The report is available along with other information
at the Company’s website
“Frank J. Basa”
Frank J. Basa, P . Eng., Order of Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P . Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: [email protected]
You can follow Coniagas on Social Media:
LinkedIn: https://www.linkedin.com/company/coniagas-battery-metals/
X (Twitter): https://twitter.com/coniagasmetals
Facebook: https://www.facebook.com/coniagas/
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 release.
Caution Regarding Forward-Looking Statements
This news release may contain forward -looking statements regarding Coniagas Battery Metals Inc.
(“Coniagas” or the “Company”) which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of
historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource
potential, upcoming work programs, geological interpretations, receipt and security of mineral property
titles, availability of funds, and others are forward-looking. No assurance can be given that any of the
foregoing will be achieved. Forward-looking statements are not guarantees of future performance and
actual results may vary materially from those statements. General business conditions are factors that
could cause actual results to vary materially from forward-looking statements. The Company does not
undertake to update any forward-looking information in this news release or other communications
unless required by law.