Firestone Signs MOU with Aurania Resources Ltd. and RSA S.R.L.

Executive Summary

• Firestone Ventures Inc. entered into a one‑year MOU with RSA (Italian remediation society) and Aurania Resources Ltd. to evaluate tailings from the former Balangero Asbestos Mine for metal recovery and carbon capture.
• The project targets extraction of nickel, cobalt, chromium, iron and copper, and laboratory testing of ex‑situ mineral carbonation to permanently sequester CO₂ and neutralize asbestos.
• RSA reports ~60 million m³ of serpentinite waste rock (≈250 m high) on site; theoretical CO₂ storage capacity is estimated at 70–73 Mt if full conversion is achieved.

Key Details

• Parties Involved: Firestone Ventures Inc. (TSXV: FV.H), Società per il Risanamento e lo Sviluppo Ambientale dell'ex miniera di amianto di Balangero e Corio (“RSA”), Aurania Resources Ltd.
• MOU Term: 1 year, with exclusive site access for evaluation; potential commercial agreement if results are favorable.
• Tailings Description: ~60 million m³ of serpentinite waste rock, crushed to <10 cm (majority <1 cm), piled ≈250 m high.
• Metal Recovery Scope: Nickel, cobalt, chromium, iron, copper – evaluated by Aurania Resources.
• Carbon Capture Scope: Firestone will assess laboratory feasibility of using the waste stream to capture CO₂ and permanently destroy asbestos minerals via mineral carbonation (magnesite formation).
• Theoretical CO₂ Capacity: Up to 0.476 t CO₂ per tonne of serpentinite → ~70–73 Mt CO₂ total storage potential (maximum theoretical).
• Scientific Support: Dr. Chiara Boschi (IGG‑CNR, Pisa) and Dr. Andrea Rielli (STORECO2) retained by Firestone to develop the carbonation process; Dr. Boschi is a recognized expert in serpentinite carbonation.
• Key Quote (Dr. Boschi): “Through ex‑situ mineral carbonation, magnesium‑rich minerals such as chrysotile and antigorite react with captured CO₂ to form stable, non‑toxic carbonates… each tonne of serpentinite can theoretically bind 0.476 tonnes of CO₂.”
• Environmental Impact: Project aims to remediate legacy asbestos waste, provide permanent CO₂ storage, and recover critical metals – high ESG relevance.
• Commercial Intent: No plan to reopen Balangero as a conventional mine; focus solely on remediation, metal recovery, and carbon capture.
• Qualified Person: John Rae, P.Geo (Ontario), verified geological information per NI 43‑101.

Notable Quotes

• Dr. Keith Barron, President & CEO of Firestone (also President/CEO of Aurania): “This project exemplifies an initiative with high‑ESG relevance, combining environmental remediation, permanent carbon storage, and circular resource recovery.”