Strategic Resources Announces Collaboration Agreement with Tacora Resources
Strategic Resources Announces Collaboration Agreement with
Tacora Resources
MONTREAL
,
Jan. 29, 2025
/CNW/ -
Strategic Resources Inc.
(TSXV: SR) (the "Company" or "Strategic") is pleased to announce that it
has signed a Collaboration Agreement (the "Agreement") with Tacora Resources Inc. ("Tacora") that will explore using Tacora's iron ore
concentrate to feed Strategic's planned Phase 1 High-Purity Iron Pelletizer project (the "Project") at Port Saguenay. The Agreement will
focus on testing of Tacora's iron ore concentrate to determine the suitability for the direct reduction grade pellets that Strategic plans to
produce from the Project. The Agreement considers Strategic purchasing up to 25% of Tacora's future expanded throughput capacity. This
could provide the Project with approximately 25% to 40% of the required iron ore concentrate feed for pelletizing.
Sean Cleary
, CEO of Strategic commented:
"We are pleased to be engaging with the Tacora team, who's new leadership has an
impressive, demonstrated track record in the iron space. Local Canadian iron ore sources such as Tacora's Scully Mine in the Labrador
Trough will help to increase downstream value creation within the Canadian iron ore industry and enhances the overall development of clean,
green steel inputs in
Canada
."
Brian Penney
, CEO of Tacora commented:
"Tacora is committed to supporting the transition to a low-carbon economy, and this
collaboration with Strategic Resources represents a significant step in that direction," said
Brian Penney
, CEO of Tacora Resources. "Our
high-grade iron ore is already being used in the direct reduction iron market, and through this partnership, we will be exploring new
opportunities to help drive the growth of green steel production. This is a key part of our strategy to provide high-quality, sustainable
products that meet the evolving demands of the global steel industry."
About Tacora Resources
Tacora is a private company focused on the production and sale of high-grade and high-quality iron ore products that improve the efficiency
and environmental performance of steel making customers in
Europe
, in the
Middle East
, and
Asia
. The Company owns and operates the
Scully Mine, an iron ore concentrate producer located near
Wabush, Newfoundland
and
Labrador, Canada
with a production capacity of six
million tonnes per year. Additional information about the Company is available at
www.tacoraresources.com
.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a critical mineral development company focused on becoming a supplier of green steel inputs. The
Company has a planned metallurgical facility site in
Canada
and high-purity iron and vanadium projects in
Canada
and
Finland
. The
Company is developing its flagship BlackRock Project, which is a fully permitted and ready to construct mine, concentrator and metallurgical
facility located at a seaport in Québec with full access to the St. Lawrence Seaway. Phase 1 of the BlackRock project now envisages
building a 4 million tonne per year high-purity iron ore pelletizer in Port Saguenay. The Company's Head Office is in
Montreal
, Québec.
Further details are available on the Company's website at
https://strategic-res.com/
. To follow future news releases, please sign up at
https://strategic-res.com/contact/
.
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STRATEGIC RESOURCES INC.
Signed:
"Sean Cleary"
Sean Cleary
,
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and
forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but
are not limited to statements or information with respect to using, testing or purchasing Tacora's iron ore concentrate. Often, but not
always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those
words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are
anticipated to" be taken, occur or be achieved.
Although management of the Company believes that the assumptions made and the expectations represented by all forward-looking
statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to
be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to
be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or
information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic
conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices;
changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with
respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties
(including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of
materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action,
and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk
and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from
time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. Strategic does not
undertake to update any forward-looking information, except in accordance with applicable securities laws.
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For further information:
For further information email [email protected] or contact: Alex Meterissian, VP, ESG & Communications,
+1 (514) 316-7096; Scott Hicks, EVP, Corporate Development, +1 (604) 646-1890
CO: Strategic Resources Inc.
CNW 16:30e 29-JAN-25