EDM Announces Positive Progress Toward Faa Application FOR the Scotia MINE Restart
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NEWS RELEASE FEBRURY 13, 2024
EDM ANNOUNCES POSITIVE PROGRESS TOWARD FAA APPLICATION
FOR THE SCOTIA MINE RESTART
Halifax, Nova Scotia, February 13, 2024 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) is pleased to
announce that it has made significant progress on the required approvals and permitting that is necessary for the restart of
the Scotia Mine.
• Advancement of Department of Fisheries and Oceans (the “DFO”) requests for granting of the Fisheries Act
Authorization (“FAA”) which is required for operationalizing the Scotia Mine
• Completion of two of four seasons of sampling for Atlantic Salmon DNA as required by DFO with results
yielding no Atlantic Salmon DNA
• Completion of primary hydrogeological and surface water studies to understand potential groundwater impact as
required by the DFO
• Completion of reconnaissance work to identify potential locations for stream and/or river restoration required by
the DFO for the fish habitat offsetting plan
“We are pleased to report the results of summer and fall seasons of testing for Atlantic Salmon DNA, yielded no detection
of Atlantic Salmon in or nearby the Scotia Mine. Given this testing occurred during salmon spawning season where salmon
come into freshwater, we are confident that the remaining two seasons of testing will also yield favourable results as
spawning season is when they are typically detectable, if present” said, Mr. Mark Haywood, President & CEO. “Working
with our consultants, we have also made significant progress on satisfying the DFO’s reque sts through primary
hydrogeological and surface water studies on ground water and reconnaissance work on the offsetting plan to replace any
fish habitat that may be impacted through our operations. Once these three key workstreams are completed, we will be in
a position to submit our FFA application the DFO” he added.
Fisheries Act Authorization
As previously announced on August 18, 2023, the Company was advised that the DFO required additional information in
connection with the FFA application, including a more expanded and in-depth application than previously necessary. The
granting of the FFA by the DFO is the final permitting approval required to commence mining operations at the Scotia Mine
(the “Scotia Mine” or, the “Project”).
The DFO’s primary objective is to ensure the Project has developed a comprehensive Fisheries Offsetting Plan that
demonstrates mitigation and offsetting of any potential impacts on fish and fish habitat within the Project area. EDM has
diligently collaborated with third-party consultants to assess various options for fish offsetting. The Company’s primary
focus has been on instream habitat restoration and enhancement projects, with a focus on:
(1) demonstrating the absence of Atlantic Salamon within the Gays River through eDNA testing;
(2) studying the impact of surface and ground water of the future operation on the impact of the nearby Gays River; and,
(3) creating an offsetting plan to replace any fish habitat that may be impacted through our operations.
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Atlantic Salmon Testing
EDM has been working with McCallum Environmental and GHD to conduct a comprehensive four-season ecological study
to demonstrate to the DFO, that the nearby Gays River does not contain Atlantic Salmon and the Project’s mining activities
will not interfere with the Inner Bay Of Fundy (IBOF) Atlantic Salmon Habitat.
The Company has completed two-seasons (summer and fall 2023) of eDNA testing and the results to-date have yielded no
Atlantic Salmon DNA present . EDM is continuing with the remaining two seasons of testing which is expected to be
completed by May 2024.
Groundwater Studies and Fish Habitat Offsetting Plan
As part of the FFA application process, the DFO has requested that EDM study any potential relationship with the Project’s
SW and Main Pits and the Gays River, and outline mitigation techniques the Project will employ to mitigate any potential
impact. EDM has completed p rimary hydrogeological and surface water studies showing the zone of influence of the
Project’s open pit. The Company is now working to complete the assessment via a secondary hydrogeological study of the
particular potential impacts and mitigation techniques to satisfy the DFO.
The DFO also requires an offsetting plan to be submitted with the FAA application to offset any harmful impacts that may
occur to fish habitat. EDM’s consultants McCallum Environmental ha ve completed reconnaissance work to identify
potential nearby areas in Nova Scotia where stream and/or river restoration could occur for the offsetting plan. Once the
extent of the potential impact to any fish habitats have been quantified, McCallum Environmental will determine the amount
of offsetting that will be required to satisfy the FFA application.
About EDM Resources Inc.
EDM is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near
Halifax, Nova Scotia. Through its wholly owned subsidiary, EDM also holds several prospective exploration licenses near
its Scotia Mine and in the surrounding regions of Nova Scotia.
The Company’s common shares are traded on the TSX Venture Exchange under the symbol “EDM”. For more
information, please contact:
Mark Haywood President & Chief Executive Officer
Kevin Farrell Chief Financial Officer
Telephone +1 (902) 482 4481
Facsimile +1 (902) 422 2388
Email & Web [email protected] & www.EDMresources.com
The Company’s corporate filings and technical reports can be viewed on the Company’s SEDAR profile at
www.sedar.com. Further information on EDM is also available on Facebook at
http://www.facebook.com/EDMresources.inc Twitter at http://www.twitter.com/EDMresources and LinkedIn at
http://www.linkedin.com/company/EDMresources.
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CAUTIONARY STATEMENTS
Neither the TSXVentureExchangenor its Regulation Services Provider(as that term is definedin the policies of the TSX
VentureExchange) accepts responsibility for the adequacy or accuracy of this newsrelease.
Thisnews releaseincludes certainforward-lookingstatements which are not comprised of historicalfacts. Forward-looking
statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements
may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “should”, “could”, “would”,
“will”, or “plan”. Sinceforward-lookingstatements arebased on assumptionsand addressfutureeventsand conditions, by
their very nature they involve inherent risks and uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no assurance that actual results will meet management’s
expectations. Risks, uncertainties, and other factors involved with forward-lookinginformation could cause actual events,
results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-
looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, potential mineralization, exploration and development results, the
estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations
and estimates of market conditions. There can be no assurance that forward-looking statements will prove to be accurate
and actual results and future events could differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from EDM’s expectations include, among others, the degree to which
mineralresourceand reserve estimates are reflective of actual mineral resources and reserves, the degree to which factors
are present which would make a mineral deposit commercially viable, the price of zinc, lead and gypsum, uncertainties
relatingto availabilityandcosts of financingneeded in the future, changes in equity markets, risks related to international
operations, the actual results of current exploration activities, delays in the development of projects, conclusions of
economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of metals,
ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company’sbusiness,
as well as thosefactorsdiscussed in the sectionentitled “Risk Factors” in EDM’s management’s discussion and analysis of
the Company's annual financial statements for the period ended December 31, 2022. Although EDM has attempted to
identify important factors that could cause actual results to differ materially, there may be other factors that cause results to
be not as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements.
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