1. Name and Address of Company: First Tellurium Corp. 381 – 1440 Garden Place
FORM 51-102F3
MATERIAL CHANGE REPORT
1. Name and Address of Company:
First Tellurium Corp.
381 – 1440 Garden Place
Delta, BC V4M 3Z2
2. Date of Material Change:
November 26, 2024
3. Press Release:
A News Release dated and issued on November 26, 2024 at Vancouver, BC, through The News Wire and
SEDAR.
4. Summary of Material Change:
First Tellurium Joins U.S. Defense Industrial Base Consortium
5. Full Description of Material Change:
See news release, a copy of which is attached hereto
6. Reliance on Subsection 7.1(2) of the National Instrument 51-102 Continuous Disclosure Obligations:
Not applicable.
7. Omitted Information:
Not applicable.
8. Executive Officer Knowledgeable of Material Change:
Tyrone Docherty, President and CEO
Telephone: (604) 789-5653
9. Date of Report:
November 26, 2024
First Tellurium Joins U.S. Defense Industrial Base Consortium
DIBC registration represents a key step to advancing tellurium
opportunities with Department of Defense and U.S.
Vancouver, BC, Canada, November 26
the Company’s application to the U.S.
2024, has been approved. The DIBC
Defense (DOD) access commercial solutions for
academia, and non- traditional contractors.
the defense industrial base , and the U.S. government is engaged in strategic planning, initiatives
funding to ensure it can access domestic sources.
First Tellurium has been in discussions with the
related opportunities, including better batteries, solar energy output, combustion/electric vehicles and
drones. Recognizing tellurium as a critical metal in need of domestic sources, the DOD directed First
Tellurium to join the DIBC to move ahead with further discussions.
As reported thr oughout 2023 and 2024, First Tellurium is developing advanced, tellurium
thermoelectric generators for the automotive, defense, agricultural, emergency and recreational
markets, as well as others. These new devices offer higher power output, lighter
manufacturing and the ability to withstand temperature extremes well beyond currently available
thermoelectric products.
“Acceptance with the DIBC is a crucial step for us to advance our key tellurium
First Tell urium President and CEO Tyrone Docherty. “From
thermoelectric power generation, we have a growing portfolio of
benefit not only the DOD, but other governmental and industry custom
Docherty noted that, o ver the past four years,
(Defense Production Act) Title III funding to bolster North American suppl
America's economy, defense, and energy transition.
Trump is likely to continue, if not accelerate, these initiatives.
“Remember that in 2020, then- President
adversaries’ for critical minerals a national emergency,”
producer of tellurium by far, accounting for well over 70% of global supply, and tellurium is considered a
critical mineral for the U.S. and Canada
Korea.”
“In addition to tellurium technology,” said Docherty, “we’re exploring two of North America’s top
tellurium properties— Deer Horn in British Columbia and
high-grade tellurium and precious metal
zinc and molybdenum as well as a copper porphyry identified in 2022.
Joins U.S. Defense Industrial Base Consortium
DIBC registration represents a key step to advancing tellurium-based market
opportunities with Department of Defense and U.S. government.
26, 2024 – First Tellurium Corp. (CSE: FTEL, OTC: FSTTF
application to the U.S. Defense Industrial Base Consortium (DIBC), first announced in
The DIBC is a worldwide industrial complex that helps the Department of
access commercial solutions for defense requirements and innovations from industry,
traditional contractors. Strategic and Critical Materials are considered
, and the U.S. government is engaged in strategic planning, initiatives
funding to ensure it can access domestic sources.
discussions with the DOD regarding various tellurium and critical metals
better batteries, solar energy output, combustion/electric vehicles and
drones. Recognizing tellurium as a critical metal in need of domestic sources, the DOD directed First
to move ahead with further discussions.
oughout 2023 and 2024, First Tellurium is developing advanced, tellurium
thermoelectric generators for the automotive, defense, agricultural, emergency and recreational
markets, as well as others. These new devices offer higher power output, lighter weight, lower
manufacturing and the ability to withstand temperature extremes well beyond currently available
the DIBC is a crucial step for us to advance our key tellurium -based initiatives,” said
urium President and CEO Tyrone Docherty. “From critical metals exploration
thermoelectric power generation, we have a growing portfolio of opportunities that we believe can
benefit not only the DOD, but other governmental and industry customers across North America.”
ver the past four years, the DOD has invested more than $870 million of
funding to bolster North American suppl ies of minerals critical to
America's economy, defense, and energy transition. The new administration under President
is likely to continue, if not accelerate, these initiatives.
President Trump declared the country’s ‘undue reliance’ on ‘foreign
adversaries’ for critical minerals a national emergency,” added Docherty. “China is the world’s
of tellurium by far, accounting for well over 70% of global supply, and tellurium is considered a
critical mineral for the U.S. and Canada as well as the United Kingdom, Australia,
to tellurium technology,” said Docherty, “we’re exploring two of North America’s top
in British Columbia and Klondike in Colorado. Both projects contain
precious metals. Deer Horn also contains the critical metals tungsten, bismuth,
as well as a copper porphyry identified in 2022.”
Joins U.S. Defense Industrial Base Consortium
based market
FSTTF) reports that
, first announced in July
helps the Department of
defense requirements and innovations from industry,
considered essential for
, and the U.S. government is engaged in strategic planning, initiatives and
and critical metals -
better batteries, solar energy output, combustion/electric vehicles and
drones. Recognizing tellurium as a critical metal in need of domestic sources, the DOD directed First
oughout 2023 and 2024, First Tellurium is developing advanced, tellurium -based
thermoelectric generators for the automotive, defense, agricultural, emergency and recreational
weight, lower -cost
manufacturing and the ability to withstand temperature extremes well beyond currently available
based initiatives,” said
critical metals exploration to advances in
that we believe can
ers across North America.”
DOD has invested more than $870 million of DPA
of minerals critical to
under President -elect
Trump declared the country’s ‘undue reliance’ on ‘foreign
“China is the world’s largest
of tellurium by far, accounting for well over 70% of global supply, and tellurium is considered a
Australia, India and South
to tellurium technology,” said Docherty, “we’re exploring two of North America’s top
in Colorado. Both projects contain
Deer Horn also contains the critical metals tungsten, bismuth,
Docherty added that tellurium is vital for North America’s advancement of solar energy. “First Solar Inc.,
North America’s largest manufacturer of cadmium-tellurium solar panels, consumes most of the
tellurium produced in, and imported to, North America, and solar cells account for 40% of tellurium use
worldwide.”
As part of its growth strategy, First Tellurium’s 75%-owned subsidiary PyroDelta Energy Corp , which is
developing the thermoelectric products, has registered to copyright its name and its “Energy Beyond
Sunlight” tagline in Europe and the UK.
“We’re receiving an increasing number of inquiries about the devices from European markets,” said
Docherty. “For this reason, and because we’re looking ahead at global opportunities, we believe
protecting these brand assets early on will be essential going forward.”
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery,
project development, project generation and development of tellurium-based technologies.
First Tellurium is listed on the Canadian Stock Exchange under the symbol “FTEL” and on the OTC under
the symbol “FSTTF”. Further information about FTEL and its projects can be found at
www.firsttellurium.com.
On behalf of the board of directors of
First Tellurium Corp.
“Tyrone Docherty”
Tyrone Docherty
President and CEO
For further information please contact:
Tyrone Docherty
604.789.5653
X/Twitter:
https://twitter.com/TelluriumCorp
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or
accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in
the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience,
perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition,
these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and
other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-
looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise
them to reflect the occurrence of future unanticipated event.