Figure 1. Quarry Locations in Minas Gerais, Brazil VMC Quarries #1 and #2 VMC Quarry #3 SRC Commissions a Third Quarry in Brazil
FOR IMMEDIATE RELEASE TSX Venture Exchange
4th December 2024 Shares Outstanding: 17,766,412
Symbol: SRC
Figure 1. Quarry Locations in Minas Gerais, Brazil
VMC Quarries #1 and #2
VMC Quarry #3
SRC Commissions a Third Quarry in Brazil
Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC, SKHRF) is pleased to
announce startup of operations at the Company’s third quarry in Minas Gerais, Brazil. The quarry
will produce white quartzite blocks for cutting and polishing into saleable slabs. The Company
plans to sell both freshly cut blocks and finished slabs to overseas clients.
“This quarry will produce a highly desirable white quartzite. Production can be ramped up quickly
given the quarry’s topographic relief and resource size. This quartzite is very hard and
exceptionally white displaying an attractive veining,” said Marcus Chase, President of Mineração
VMC Ltda., Stakeholder’s Brazilian subsidiary.
“Our clients have expressed considerable interest in purchasing this material, so we expect to be
scaling production rapidly to meet a new demand. We anticipate starting production for this quarry
at a rate of 250m3/month.”
Environmental licenses for the project were issued in 2023 and a license application for
commercial production was made to the Agencia Nacional de Mineração (ANM) on the 6 th of
November, 2024. A full commercial license is expected to be granted within 60 business days of
the application. The first test block is being produced at the quarry site now and will be cut and
polished for clients to review by mid-December.
Work that is required to be completed on site before full commercial operations can begin includes:
running electricity lines to the worksite, installing water tanks, installing internet and security
systems, completing access road construction and undertaking work face preparation.
Figure 2. White Quartzite Material
“Selling 30m3 of material in a month is our estimated breakeven rate for operating a quarry in
Brazil. During October the first quarry sold approximately 130m3 of our blue quartzite material.
Our expected return to profitability in Q4 has been accompanied by the opening of two new
quarries, bringing us to a total of three operating quarries at the end of 2024. We are now
anticipating a very strong start for 2025,” stated Christopher Berlet, CEO of Stakeholder.
“The cashflow from our quartzite business in Brazil allows us to pursue minimally dilutive
exploration initiatives on the company’s premier gold and copper exploration terrain located in the
Heart of the White Gold District of the Yukon Territory, Canada. This business combination was
established with a view to pursuing maximum prospective share price performance for company
shareholders with the successful advancement of our exploration initiatives.”
Progress at VMC quarry #2
One of the 4 test blocks produced at VMC’s quarry #2 was cut on the 12th of November and is
now being polished for marketing purposes.
VMC sales in October of 2024 hit a new high for the year at USD $200k. The Company believes
that this is indicative of an increasingly strong market for Brazilian dimensional stone.
Christopher Berlet BSc (Mining), CFA, CEO & Director of Stakeholder Gold Corp. is responsible
for the content of this press release.
For further information please contact:
Stakeholder Gold Corporation
416 525 - 6869
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