Currie Rose to Benefit from the New Queensland Government Funding Announcement
Currie Rose to Benefit from the New
Queensland Government Funding
Announcement
Toronto, Ontario--(Newsfile Corp. - June 28, 2023) -
Currie Rose Resources Inc.
(TSXV: CUI) ("
Currie
Rose
" or the "
Company
") is pleased to report further support from the Queensland Government as it
relates to the newest funding announcements for the local critical minerals supply chains.
In addition to the recent
$5 billion investment into the CopperString 2032 Project
which would
incorporate the vanadium battery technology, the Government announced an
additional $245 million in
new funding commitments
, including a $100 million Queensland Critical Minerals and Battery
Technology Fund, scientific research and ESG excellence, cost reduction measures for mineral
exploration companies, and establishment of critical minerals zones such as the Julia Creek-Richmond
zone and the Mount Isa zone where Currie Rose's North Queensland Vanadium Project ("
NQVP
") is
located.
Currie Rose's
NQVP
covers approximately 1,250 km
2
in northwest Queensland, about 500 km
southwest of Townsville, and hosts NI 43-101 compliant Indicated Cambridge Resource of 61.33 Mt @
0.34% V
2
O
5
and Inferred Resource of 144.87 Mt @ 0.33% V
2
O
5
. Resource is open for expansion. The
Project also hosts multiple other drill-ready targets that represent large areas of underexplored,
prospective vanadium-rich host strata.
Simon Coyle, Currie Rose's newly appointed President & CEO, stated:
"
The Government's commitment to the advancement of the critical minerals in the region
demonstrates its outstanding mineral potential. The prominent place vanadium is taking in the recent
funding rounds shows the well-deserved recognition of the importance of Vanadium Redox Flow
Batteries in the renewable energy space.
Currie Rose has a vital role to play in the Queensland battery supply chain and is at the forefront of
the development of critical minerals in the region. The Government's investment into infrastructure
and all levels of supply chain will help us rapidly advance the project and achieve the best outcomes
for all stakeholders
."
Managed through Queensland Investment Corporation (QIC), the
$100 million Queensland Critical
Minerals and Battery Technology Fund
will oversee venture and growth capital investments to
accelerate the extraction and processing of critical minerals and the development of battery
technologies.
The Queensland Government has also committed
$68 million to the Queensland Resources
Industry Development Plan
and
$75 million to the Queensland Resources Common User
Facility
that will be built in Townsville to accelerate the development of critical mineral commercial
mining projects.
The Premier Annastacia Palaszczuk, who unveiled the Queensland Critical Mineral Strategy at the World
Mining Congress in Brisbane, commented:
"
In Queensland we have some of the world's richest mineral-producing areas, which in North
Queensland alone is estimated to be worth $500 billion dollars. Our state's abundant reserves of
vanadium, cobalt, copper and rare earth elements are the key to accelerating the development of
clean energy technologies like solar panels, battery storage and electric vehicles. More than just
digging these out of the ground, Queensland is in the enviable position to grow our capabilities right
through the supply chain from pit to product as global demand skyrockets
."
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals exploration and development company identifying high-
value assets in resource- and research-friendly jurisdictions. The Company's immediate focus is the
advanced NQV Project in Queensland, Australia. The NQV Project hosts the Cambridge Deposit with an
Indicated Mineral Resource of 61.33 Mt @ 0.34% V
2
O
5
and 234.6 ppm MoO
3
along with an Inferred
Mineral Resource of 144.87 Mt @ 0.33% V
2
O
5
and 241.9 ppm MoO
3
(Dufresne et al., 2022). The
Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property
rights associated with the Hydrogen Project from Curtin University in Western Australia. Please visit our
website at
www.currierose.com
.
For additional information, please contact:
Iryna Zheliasko, Investor Relations - Canada
Office: (+1) 647-249-9298
Email:
Andrew Rowell, Investor Relations - Australia
M: +61 400 466 226
Email:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts, including statements regarding future estimates,
plans, objectives, timing, assumptions or expectations of future performance, including without
limitation, statements regarding the Company's plans regarding the NQV Project. Generally, forward-
looking statements and information can be identified by the use of forward-looking terminology such
as "intends" or "anticipates", or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are
based on certain material assumptions and analysis made by the Company and the opinions and
estimates of management as of the date of this press release, including that the Company will receive
the required corporate and regulatory approvals, including TSXV's final approval, that that general
business and economic conditions will not change in a material adverse manner and assumptions
regarding political and regulatory stability in financial and capital markets.
These forward-looking statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information. Important factors that may cause actual results to vary,
include, without limitation, that the Company will not be able to proceed with the NQV Project as
intended, or that the Company does not receive the required regulatory approvals, including the
TSXV's final approval, recent market volatility and potentially negative capital raising conditions, the
conflict in Eastern Europe, the Company's ability to raise the necessary capital or to be fully able to
implement its business strategies and other risks and factors that the Company is unaware of at this
time. Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements or forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements and forward-looking information. Readers are
cautioned that reliance on such information may not be appropriate for other purposes. The Company
does not undertake to update any forward-looking statement, forward-looking information or financial
out-look that are incorporated by reference herein, except in accordance with applicable securities
laws.
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https://www.newsfilecorp.com/release/171628