SRC White Quartzite Quarry and Export Market Update
FOR IMMEDIATE RELEASE TSX Venture Exchange
6th of February 2024 Shares Outstanding: 16,066,412
Symbol: SRC
SRC White Quartzite Quarry and Export Market Update
Stakeholder Gold Corp. (“Stakeholder” or the “Company”) (TSX-V: SRC) is pleased to announce
that licensing for the Company’s White Quartzite Quarry has cleared another milestone . On the
25th of January the State Forestry Institute of Minas Gerais, Instituto Estadual de Florestas (IEF),
completed their site visit. The site visit is a prerequisite for granting final approval for commercial
operations at the Company’s new White Quartzite Quarry.
Final approval from the IEF is expected imminently, at which point a sample block from the
Company’s new White Quartzite Quarry will be produced and shipped for processing into slabs.
These slabs will permit purchasing clients to view the material quality and to understand its
finishing characteristics in advance of full-scale commercial production.
“Demand for white quartzite is strong , with many Brazilian factories reporting difficulty in
purchasing enough material in block form . We believe that the white quart zite which will be
produced at our new quarry will find a ready market,” said Marcus Chase, president of Mineração
VMC Ltda. (VMC), Stakeholder’s Brazilian subsidiary.
Figure 1. White Quartzite Processed Slabs, Minas Gerais, Brazil
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“Our purchasing clients have expressed strong interest in the material from this new quarry .
Conservatively, we estimate that this quarry will sell 150 cubic meters of quartzite per month.
Prices will vary between $1,700 and $1,900 USD/m3. This rate of production is expected to take
three months to achieve, but once established there will be no impediments to maintaining or
increasing the production rate. Noteworthy also is that further capital expenditure is not required
to move forward, as VMC is able to secure all necessary equipment from existing operations.”
Export Market Development
The Company is also pleased to announce that the first two containers of Blue Quartzite slabs have
been cut, polished, and shipped directly to a new export market that the Company is developing in
Canada. VMC is now preparing additional containers for export from Brazil to Canada.
“Our objective with direct exports is to enhance uptake at the same time as we commission new
quarries in Brazil in order to grow sales for the company’s expanding product offering,” stated
Christopher Berlet, CEO of Stakeholder.
“Stakeholder is developing a profitable cash flow business with a view to restricting treasury share
issuance while we pursue high value -add exploration targets on the company’s 100% owned,
highly prospective, Ballarat Gold and Copper Exploration Project located in the Heart of the White
Gold District of the Yukon Territory, Canada.”
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.