Nord gets Ontario guidance on district-scale processing

Executive Summary

• Ontario Ministry of Energy and Mines issued formal guidance allowing Nord Precious Metals to include toll‑processing of neighboring silver tailings in its recovery permit application, creating a fast‑track pathway without a closure plan.
• The approved permit will cover processing of legacy tailings from Castle and Beaver mines, recovery of broken mineralized material from Castle’s Level 1 stopes, and toll‑processing arrangements for adjacent properties, establishing Nord as a district‑scale silver processor.
• Permit submission is slated for Q4 2025 with commissioning of a 600‑t/d gravity plant expected upon approval and initial processing targeted for 2026, providing three new revenue streams.

Key Details

• Ministry Guidance Received: Written response on Aug 29 2025 confirming toll‑processing can be included in the recovery permit application.
• Fast‑Track Process: Ministry invited draft applications for preliminary review; formal submission to occur mid‑2025 under Part VII amendments to the Ontario Mining Act, eliminating the need for a closure plan.
• Three Revenue Streams Covered by Permit:
  1. Processing of Castle and Beaver mine legacy tailings (gravity concentrates up to 786,809 g/t Ag).
  2. Recovery of broken mineralized material from Castle’s Level 1 stopes identified during trackless conversion.
  3. Toll‑processing of tailings from adjacent properties, converting environmental liabilities into cash‑generating feedstock.
• Processing Capacity: Automated, modular 600‑tonne‑per‑day gravity plant already acquired; commissioning upon permit receipt.
• Technical Validation: Proven metallurgical process produced a 1,000‑oz silver bar and battery‑grade cobalt sulphate in initial testing; applicable to diverse feed sources without significant modification.
• Timeline:
• Formal permit submission – Q4 2025.
• Plant commissioning – upon receipt of permit (expected early 2026).
• Initial processing start – 2026.
• Strategic Positioning: Establishes Nord as the only permitted high‑grade milling facility in the Cobalt‑Gowganda district, enabling a “hub‑and‑spoke” model for waste‑to‑market operations across historic silver tailings.
• First Nations Agreements: Ongoing agreements with three First Nations groups ensure social licence and community support.
• Additional Context (non‑material): Company holds 35 % of Coniagas Battery Metals Inc.; has a 260 km² lithium project (St. Denis‑Sangster) near Cochrane, ON.

Notable Quotes

“While others pursue expansion across multiple continents, we're focused on unlocking value from waste streams in North America's richest historic silver district,” – Frank J. Basa, PEng, President & CEO.
“The ministry's guidance on toll processing validates our hub‑and‑spoke model at the regulatory level.” – Frank J. Basa, PEng, President & CEO.