Stakeholder Permits 2 New Quarries
FOR IMMEDIATE RELEASE TSX Venture Exchange
16th November 2023 Shares Outstanding: 13,314,412
Symbol: SRC
Stakeholder Permits 2 New Quarries
Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) is pleased to announce
progress toward the start-up and commissioning of two further operating quarries in the State of
Minas Gerais, Brazil. The Company has been operating a single, profitable , blue quartzite quarry
since January of 2021.
The two new quarries have been awarded mining licenses from the Agência Nacional de
Mineração (ANM), pending receipt of final approvals by the state environmental agency ,
Superintendências Regionais de Meio Ambiente do Leste Mineiro (SUPRAM-Leste).
Quarry number two (#2) is situated 2,000 m (1.25 miles) south of the Company’s current operating
blue quartzite quarry on Mine Claim ANM 831.748/2020. Mining License GU 30/2022 for quarry
#2 is valid for operations to begin immediately t hrough February 2025 , pending extension by
issuance of an environmental permit. To this end a detailed report, Documento Autorizativo de
Intervenção Ambiental (DAIA) , has been submitted to the Instituto Estadual ds Florestas (IEF) .
This will be followed by formal application for the environmental permit.
Quarry number three (#3) is situated 800 m north of the current operating blue quartzite quarry on
the Company’s existing mine claim, ANM 830.635/2017. Quarry #3 shares Mining License GU
15/2020 with the current quarry. As is the case with quarry #2, quarry #3 will require submission
of a DAIA for approval from the IEF before formal application for an environmental permit.
Extractive operations have commenced at both new quarries in accordance with the terms of their
Mining Licenses.
Sample materials for quarry #2 and quarry #3
Quarry #2 Blue Quartzite Sample Quarry #3 White Quartzite Sample
“The material from each of the two new quarries ha s highly appealing esthetic and physical
qualities. Our first three quarries are each within walking distance of one another, and VMC can
expect to benefit from operating synergies which will result in lower unit costs and near zero
downtime. Our crews are currently extracting thirty cubic meters of material from each of the two
new quarries in advance of confirming full commercial viability come end of November 2023,”
said Marcus Chase, CEO of VMC.
“In 2024, VMC plans to initiate work on two additional quarries, #4 and #5. Licensing efforts are
already in progress and will be completed during the first quarter of 2024. The materials to be
extracted from quarries #4 and #5 are also unique and are expected to be commercially successful
as soon as operations begin.”
Sample materials for quarry #4 and quarry #5
Quarry #4 Teal Blue Quartzite Sample Quarry #5 Layered Quartzite Sample
In 2024, VMC plans to open a fourth quarry (#4) in Bahia State to extract a one-of-a-kind teal
colored stone and a further quarry (#5) in Minas Gerais State, some 60 kilometers from the current
quarry, to extract a white material shot through with fine layers of blue to black. In both cases, the
materials are unique and esthetically desirable . Materials from the se additional quarries are
expected to fetch high prices . Licensing applications have been initiated and operations are
expected to begin in Q2 of 2024.
“Since 2021 Stakeholder has been operating a single, profitable, blue quartzite quarry in Minas
Gerais State, Brazil. We will now expand this business with the addition of several new quarries,”
stated Christopher Berlet, CEO of Stakeholder.
“A robust and increasing cash flow permit s us to pursue the company’s highly prospective and
potentially significantly value accretive exploration pro spects in the White Gold District of the
Yukon Territory, Canada with minimal shareholder dilution . This combination allows us to
maximize potential returns for company shareholders, while pursuing exploration initiatives on
high quality prospects in one of the world’s leading mining jurisdictions.”
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
Forward Looking Information
This news release contains forward -looking information. All information, other than information of historical fact,
constitute “forward -looking statements” and includes any information that addresses activities, events or
developments that the Corporation believes, expects or anticipates will or may occur in the future including the
Corporation’s strategy, plans or future financial or operating performance.