SRC Advances on Second Operating Quarry
FOR IMMEDIATE RELEASE TSX Venture Exchange
17th August 2023 Shares Outstanding: 13,314,412
Symbol: SRC
SRC Advances on Second Operating Quarry
Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) is pleased to announce
the completion of preliminary steps required for the startup and commissioning of a second
operating quarry in the State of Minas Gerais, Brazil. The Company has been operating a single,
profitable, blue quartzite quarry since January of 2021 and is anticipating the startup and
commissioning of 2 new quarries in the second half of 2023. Further quarries are planned to follow
in 2024 and beyond.
Work at the second quarry (Quarry 2) has commenced. The rock face has been exposed (see Figure
1 below) and 2 test blocks have been extracted and are being cut and polished in order to produce
a set of 10-15, 2cm thick slabs. These slabs will be ready for market testing and evaluation by mid-
September. The quartzite material found in Quarry 2 has a blue and white colour scheme, which
combines with yellows and browns near to surface where water has infiltrated the formation.
“The material e xposed demonstrates alluring aesthetics and durability, characteristics which are
suggestive of a new highly marketable material. This new material is amenable to quarrying and
sale into Brazil’s flourishing exotic stone market. Once approval from the environmental agency
is received, this new quarry will allow Stakeholder to develop a second profitable project while
benefiting from the existing team and infrastructure in place ,” stated Marcus Chase, President of
VMC Mining Corp.
Quarry 2 is situated on mine claim ANM 831.748/2020 and has been awarded a mining license by
the Brazilian Mining Agency, Agência Nacional de Mineração (ANM), for commercialization of
up to 6,000m3 of quartzite per year. The mining license has been issued subject to the further
receipt of an environmental permit, which the Company is now pursuing with the assistance of an
experienced consultant.
The Company’s planned third quarry ( Quarry 3 ) is situated on the same mine claim as
Stakeholder’s current operating blue quartzite quarry (Quarry 1), some 800 meters distance from
the operating face. As such, extraction from Quarry 3 will require only a site visit from the Minas
Gerais Forestry Insti tute, Instit uto Estadual de Florestas (IEF), and approval from the
environmental agency (SUPRAM). Quarry 3 is anticipated to produce a white quartzite that bears
commercially viable characteristics in terms of hardness, colour and movement. Extraction from,
and commercialization of, Quarry 3 is expected to begin by the end of October of 2023.
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
Figure 1 Quarry 2 exposure of upright and floor rock faces
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.