(TSXV – “WMK”) is pleased to provide the following marketing and operational update. This year, 2022, has seen positive indications regarding potential demand for Whitemud’s Enviropozz metakaolin. Numerous cement and concrete companies took the opportunity to run
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WHITEMUD RESOURCES INC.
NEWS RELEASE
November 18, 2022
Calgary, November 18, 2022 – Whitemud Resources Inc. (“Whitemud” or the “Company”)
(TSXV – “WMK”) is pleased to provide the following marketing and operational update.
This year, 2022, has seen positive indications regarding potential demand for Whitemud’s
Enviropozz metakaolin. Numerous cement and concrete companies took the opportunity to run
field tests of Enviropozz in their concrete mixes and have had a firsthand opportunity to see the
benefits from adding Enviropozz into their cement mixtures. This has resulted in a number of
potential new customers considering using Enviropozz on a regular basis in their concrete
mixtures commencing in 2023, provided Whitemud can assure a secure supply of the necessary
quantity of product and the parties reach agreement on terms. No firm commitments have been
made yet, but Whitemud is encouraged by the increased interest in its product.
In addition to the merits of Enviropozz as a pozzolin and its environmentally lower carbon
footprint than traditional Portland cements, Envirpozz provides concrete producers with a supply
chain cost savings as well.
Whitemud and its marketing team are diligently working to secure offtake agreements to meet
minimum volume hurdles to support a capital program for facility upgrades at the Wood
Mountain plant and a potential restart of plant operations in Q2, 2023. The upgrades and restart
will be required in order for Whitemud to provide the necessary supply commitments to potential
customers. In addition to meeting the minimum volume hurdle, Whitemud will need to obtain the
necessary financing for the capital program.
Our engineering and technical team has evaluated a series of plant upgrades which would
significantly increase the recovery percentage of kaolin from the ore. This would lower the cost
per ton of Enviropozz metakaolin produced to be a competitively priced cementitious cement
additive.
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation holding mineral rights to exploit a large kaolin deposit
in southern Saskatchewan, together with a processing facility located on the property.
Whitemud’s product, Whitemud (MK) is a cement-grade metakaolin that enhances the
performance of cement for oil and gas wells and construction applications. The Company uses a
process that minimizes environmental impact.
Midstream Energy Partners, a division of Whitemud Resources Inc. formed in 2015, engages in
the business of commodity marketing and logistics.
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For further information, please contact:
Whitemud Resources Inc.
General Inquiries
Suite 900, 332 - 6th Avenue SW
Calgary, Alberta T2P 0B2
Attention: David Koplovich: [email protected]
Reader Advisory
This news release contains forward-looking statements, within the meaning of applicable
securities legislation, concerning Whitemud’s business and affairs. In certain cases, forward-
looking statements can be identified by the use of words such as “attempts”, “intends”,
“continues” or “potential”, or variations of such words and phrases, or words and phrases which
state that certain actions, events or results “may”, “could”, “would” or “might” be achieved.
These statements involve known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those anticipated in such forward-looking
statements. Although Whitemud believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such forward-looking statements
included in this news release should not be unduly relied upon. Such statements include
statements with respect to the Company attracting new customers and securing firm offtake
agreements with such customers and statements regarding the Company’s ability to increase the
recovery percentage of kaolin from ore through plant upgrades, resulting in a more competitively
priced product. Actual results could differ materially from those anticipated in these forward-
looking statements. Potential customers may not enter into firm commitments, the Company may
not be able to complete the proposed capital program due to the inability of the Company to
obtain financing or sufficient offtake agreements to make the upgrades financially viable. The
upgrades may not achieve anticipated efficiencies. Results may also differ as a result of
prevailing economic conditions and other factors, many of which are beyond the control of
Whitemud. The forward-looking statements contained in this news release represent Whitemud’s
expectations as of the date hereof, and are subject to change after such date. Whitemud disclaims
any intention or obligation to update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as may be required by applicable securities
regulations.
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.
Not for distribution to United States Newswire Services or for dissemination in the United
States.