Mineral ROAD to List Ausvan Vanadium ON Australia Securities Exchange
MINERAL ROAD DISCOVERY INC.
#2501-550 Burrard Street Vancouver BC V6C 2B5
NEWS RELEASE
MINERAL ROAD TO LIST AUSVAN VANADIUM ON AUSTRALIA SECURITIES
EXCHANGE
Vancouver, B.C. – December 5, 2024 ‐ Mineral Road Discovery Inc. (CSE: ROAD) (the “Company” or
“ROAD”) announces it has entered into an agreement to list AusVan Battery Metals Pty Ltd on the ASX via
NewPeak Metals Ltd (ASX:NPM) for a value of Aus$5 million, accelerating the path to produce Vanadium
Redox Flow Batteries to support renewable energy grids.
The AusVan Vanadium project consists of 6 exploration licences and 1 application , covering 1498 square
kilometres 80 kms north of the town of Julia Creek in northwest Queensland , Australia, and hosts the Allaru
Vanadium Deposit. Vanadium is a critical mineral, used to strengthen steel, and is also the key component of
the electrolytes in Vanadium Redox Flow Batteries (VRFB), used in industrial and utility -scale storage
batteries.
Jason Cubitt, CEO of ROAD noted “This is a nother successful transaction for ROAD, demonstrating the
substantial value of the work done by ROAD over the last four years in the battery metal space . We look
forward to working together with the NewPeak team to continue to grow the value of AusVan, and accelerate
the development of this Tier-1 project.”
Queensland is an actively pro -mining jurisdiction, investing $75 million into the Queensland Resources
Common Use r Facility (RCUF) in Townsville and the CopperString electrical grid upgrade for mineral
development around Julia Creek. AusVan was selected as a potential founding customer of the QRCUF, which
will be a pilot plant facility to “demonstrate processes at scale, validating commerciality and technical viability
to secure finance, investor interest, off -take agreements and partnerships”. It is part of Queensland’s $315
million Queensland Critical Minerals Strategy.
Vanadium Info
Vanadium is a critical mineral in Canada, Australia, the EU and the USA, primarily due to its ability to improve
shock and vibration resistance in steel, as well as s pecialty alloys for space vehicles, nuclear reactors and
aircraft carriers. Forecasts suggest vanadium demand will be double that of current vanadium supply by 2030,
primarily led by increased use in steel as well as in Vanadium Redox Flow Batteries. The current deployment
of over 50 GWh of VRFB capacity is expected to grow to 300GWh by 2030.
Deal Terms
NewPeak Metals Ltd has agreed to acquire all of the outstanding shares in AusVan Battery Metals Pty Ltd for
a total of Aus$5 million, consisting of 303,030,303 NPM shares at price of A$ 0.0165 pre NPM share. In
conjunction with this purchase, NewPeak plan s to undertake a Rights Issue financing to raise between A$2
million and A$3 million at the same price of $0.0165 per share. ROAD owns 56.6% of AusVan Battery Metals
Pty Ltd
.
Stock Option Correction
ROAD also announces it wishes to clarify that, further to its news release of November 28, 2024, the number
of options granted to certain of its officers and consultants is 3,450,000 at a price of $0.075 per share
exercisable for a term expiring November 28, 2026.
2
Figure 1. Location of AusVan’s Vanadium Project
FOR FURTHER INFORMATION CONTACT:
Jason Cubitt
Chief Executive Officer
Emma Fairhurst
Chairperson
Mineral Road Discovery Inc.
Telephone: 778 819 1870
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of
this news release.