Canstar Appointed as Member of Nevada Tech Hub as Critical Minerals Program Announces Initial US$21 Million Grant from U.S. Economic Development Administration
Canstar Appointed as Member of Nevada Tech
Hub as Critical Minerals Program Announces
Initial US$21 Million Grant from U.S. Economic
Development Administration
Toronto, Ontario--(Newsfile Corp. - July 29, 2024) -
CANSTAR RESOURCES INC. (TSXV: ROX)
(OTC Pink: CSRNF)
("
Canstar
" or the "
Company
"). Canstar is pleased to announce membership in
the University of Nevada, Reno's Tech Hub Program for critical and EV materials. Membership in the
exclusive Tech Hub Program is an important milestone in the Company's critical minerals strategy, which
complements its exciting gold exploration work, and includes securing government support and funding
for the identification and extraction of North American sources of critical minerals.
Copper, lead and zinc are associated with
Canstar's Buchans-Mary March Projects in central
Newfoundland
, which includes a joint venture with Glencore plc. The Company's Tech Hub membership
is also expected to provide opportunities for engagement with policy makers, private sector leaders, and
investors who are aligned with Canstar's mission of securing the West's critical minerals supply chain.
Canstar's strategy is consistent with the objectives of the
Minerals Security Partnership
and the U.S.-
Canada Joint Action Plan on Critical Minerals. These and other U.S. initiatives have provided funds for
mineral exploration and development projects, including direct U.S. funding for Canadian mining
projects.
Commenting on the development, Canstar's President & CEO, Juan Carlos Giron Jr., said, "Western
allied democracies have made it clear that ensuring stability of supply for critical minerals is paramount
to national economic and security interests. With exposure to copper, zinc and lead at the Company's
Buchans-Mary March projects, and exposure to gold and antimony at the Company's Golden Baie
Project, Canstar is poised to capitalize on what we believe is the coming bull market for precious and
critical metals. Building alliances and securing partnerships will continue to be a priority for the Company
as we advance our mineral projects in a Tier 1 mining jurisdiction."
Additional Context
In August 2022, the United States passed the CHIPS and Science Act, authorizing US$10 billion in
funding for the Tech Hubs Program, which is focused on securing the full lifecycle supply chain for critical
minerals in the West. Initial U.S. Economic Development Administration funding for the program totals
US$541 million, allocated across 12 "Tech Hubs." This initial funding included US$21 million for the
University of Nevada, Reno's Tech Hub Program, of which Canstar has been accepted as a consortium
member. This program is part of accelerated, bi-partisan efforts that include cross-border trade and
investment agreements between the United States and Canada at the national level, as well as the
state/provincial level-including the bilateral trade and investment agreement announced between the
Province of Ontario and the State of Nevada in September, 2023.
Qualified Person Statement
Paul Ténière, M.Sc., P.Geo., Senior Vice President of Exploration for Canstar, and a Qualified Person
as defined in NI 43-101, reviewed and approved all scientific and technical information disclosed in this
news release.
About Canstar Resources Inc.
Canstar Resources Inc. (TSXV: ROX) is a mineral exploration company unlocking immense potential for
gold and critical minerals in Newfoundland and Labrador. Our 100%-owned Golden Baie Project
(548.75 km
2
) hosts 93 km of a structure similar to New Found Gold's Queensway Gold Project. Our
Buchans-Mary March projects (65.75 km
2
), which include a Glencore joint venture, are located within the
world-class, past producing, VMS zinc-copper-silver rich Buchans Mining Camp and boast high-grade
zinc and copper discoveries.
For further information, please contact:
Juan Carlos Giron, Jr.
President & Chief Executive Officer
Email:
Phone:
1-647-247-8715
Website:
www.canstarresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This News Release includes certain "forward-looking statements" which are not comprised of historical
facts. 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", "could", "would", "will", or "plan". Since forward-
looking statements are based on assumptions and address future events and 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-looking
information 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, exploration results, potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and estimates of
market conditions. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to complete a feasibility study which recommends a
production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals, political risks, inability to fulfill
the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and
operating costs varying significantly from estimates and the other risks involved in the mineral
exploration and development industry, including but not limited to the price of commodities, capital
market conditions, restriction on labour and international travel and supply chains, and those risks set out
in the Company's public documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the date
of this news release, and no assurance can be given that such events will occur in the disclosed time
frames or at all. 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, other than as
required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/218055