Toronto, Ontario, 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 km2 in northwest Queensland, about 500 km southwest of Townsville, and hosts NI 43-101 compliant Indicated Cambridge Resource of 61.33 Mt @ 0.34% V2O5 and Inferred Resource of 144.87 Mt @ 0.33% V2O5. 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% V2O5 and 234.6 ppm MoO3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5 and 241.9 ppm MoO3 (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
Andrew Rowell, Investor Relations – Australia
M: +61 400 466 226
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.