News

Calgary, Alberta--(Newsfile Corp. – November 21, 2024) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (“CCMI” or the “Company”) is pleased to report record revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine (“BRM”) project near Cranbrook, BC.  During the month of October 2024, the Company trucked 1,064 dry metric tonnes (“dmt”) of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD$378,000 for the October 2024 shipments.  The mineralized material sent to New Afton graded 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag.

As of October 5th, 2024, the contractor responsible for crushing and screening activities completed crushing and screening of all mineralized material from the original 180,000 tonne surface stockpile and has since demobilized from the mine site.  To-date the Company has shipped approximately 5,300 tonnes of mineralized material to New Afton under the Ore Purchase Agreement (“OPA”).  Shipped material includes 4,100 tonnes of sorted material and 1,200 tonnes of unsorted fines.  At October month-end, the Company had approximately 73,000 tonnes of coarse material that is available for sorting through the Steinert KSS 100 ore sorter prior to shipping to New Afton.  There are now approximately 42,000 tonnes of rejects from the ore sorting process that are being stockpiled on surface as an initial feed for the BRM mill.  Rejects continue to grade between 0.4% Cu and 1.0% Cu.  Hence all rejects can be economically processed in future at the BRM once the Company has received permission to restart the mill.  Additionally, the Company has stockpiled approximately 60,000 tonnes of fine material that is too fine to be sent to the sorter.  Fine material is expected to grade at 1.39% copper, 0.29 g/t gold and 11 g/t silver representing the average run of mine material in the original surface stockpile.  The cut off grade (“COG”) for milling copper mineralized material at the BRM that is already on surface is 0.4% Cu.  Hence both the rejects and fines have sufficiently high enough grade to provide an economic feed to the BRM mill in future.  Should metal prices continue to improve, the Company may send a portion of the fines to New Afton to generate additional revenues in the near term.

Ian Berzins, President and CEO of CCMI commented, “The provisional payment of USD$378,000 for October 2024 represents the highest monthly revenue received to-date under the Ore Purchase Agreement with New Afton, bettering the June 2024 total of USD$246,000 in revenues.  Some of the revenues from the OPA will be used in support of the permit application to restart the BRM in a phased approach wherein the Company plans to mill the coarse rejects and fines at the BRM property followed by resuming mining in the underground.”

Qualified person

CCMI’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Gary Low P.Geo., who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.

About Canadian Critical Minerals Inc.

CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI’s main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 30% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com    
Website: www.canadiancriticalmineralsinc.com

Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.