VANCOUVER, British Columbia - (NewMediaWire) - November 26, 2024 - Bolt Metals Corp. ("Bolt" or the "Company") (CSE: BOLT) (FRANKFURT: A3D8AK) (OTCQB: PCRCF) welcomes the recent passage of the Critical Mineral Consistency Act 2024 by the U.S. House of Representatives, which officially designates copper as a critical mineral2. With Senate approval, this development should strengthen the strategic significance of Bolt Metals' Soap Gulch project in Montana and open up new opportunities to accelerate exploration and development.
The inclusion of copper on the U.S. critical minerals list reflects its essential role in powering the clean energy transition, electrifying transportation, and supporting domestic manufacturing. This landmark decision would grant copper-focused projects eligibility for the FAST-41 permitting process, investment incentives, and increased federal supportall of which are pivotal to ensuring a stable, domestic copper supply chain 1,2.
"Copper's designation as a critical mineral underscores the growing recognition of its importance to both national security and the green energy future," said Branden Haynes, CEO of Bolt Metals. "Our Soap Gulch project is well-positioned to benefit from this shift, with its potential for additional copper discoveries in one of the more mining-friendly regions of the U.S."
Soap Gulch: A Strategic Asset for U.S. Copper Potential
Located in Montana, Soap Gulch offers favorable geology and historic copper occurrences, making it a prime target for exploration and development. Historical results at Soap Gulch, include:
- 1.2% copper, 0.036% cobalt, and 200 ppb gold over 11.7 metres of massive sulfides in DH WCC43; and
- Up to 4.7% copper, 0.07% cobalt, and 2.3 g/t gold in trenches advanced by BHP-Utah3.
As the U.S. seeks to reduce its reliance on foreign imports and address an anticipated global copper supply gap of nearly 10 million metric tons over the next decade, Bolt Metals' commitment to advancing Soap Gulch could, if successful, play a role in meeting domestic and international demand.
The Critical Mineral Consistency Act provides significant advantages for copper projects, including2:
- Accelerated Permitting: Eligibility for the FAST-41 process to streamline project timelines and reduce regulatory hurdles.
- Investment Incentives: Opportunities for federal subsidies, grants, and financing to support domestic mineral development.
- Enhanced National Security: Greater government focus on securing domestic supply chains, reducing reliance on foreign sources.
Growing Demand for Copper: A Global Opportunity
A recent report from BHP, the world's largest mining company, forecasts copper demand to grow at an average rate of 2.6% annually through 2035, reaching over 50 million metric tons per year by 2050. This surge in demand is driven by copper's essential role in renewable energy, EVs, and energy storage technologies4.
Industry leaders have praised copper's inclusion as a critical mineral. Adam Estelle, CEO of the Copper Development Association, stated: "This vote highlights copper's essential role in powering America's energy future, electrifying transportation, creating jobs, and strengthening infrastructure. This is a significant win for U.S. manufacturing, the clean energy transition, and our nation's global competitiveness5."
About Bolt Metals
Bolt Metals is a forward-thinking company focused on discovering and developing high-grade copper and critical mineral assets in tier-1 jurisdictions. Through a disciplined approach to low-cost M&A and efficient project evaluation, we leverage our in-house expertise and catalyst-driven priorities to unlock significant value in response to the growing demand for electrification and renewable energy. Our flagship projects, Soap Gulch and Switchback, highlight the potential for high-grade discoveries that align with the energy transition.
3 Information in this press release is based on the January 3, 2019, NI 43-101 Technical report for the Soap Gulch Property, Silver Bow County & Madison County, Montana, USA authored by Dean Besserer B.Sc., P. Geol. Until the original historic data has been recovered and/or archived drill core can be re-logged, photographed and sampled, the historic intercepts should not be relied upon. The company has not completed any quality assurance program or applied quality control measures to the historical data.
4 "BHP Insights: how copper will shape our future"; September 30, 2024
This news release may contain statements which constitute "forwardlooking information". The words "may", "potential", "should", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions, are intended to identify such forwardlooking statements. Such statements include, without limitation, statements regarding Soap Gulch project's strengthened strategic significance, new opportunities to accelerate exploration and development, being well-positioned to benefit from the shift to copper's designation as a critical mineral, and the potential for additional copper discoveries Soap Gulch. Investors are cautioned that any such forwardlooking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forwardlooking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
The Canadian Securities Exchange has not approved or disapproved this news release.
