High Tide Resources ships samples for testing

Executive Summary

• High Tide Resources has shipped approximately 5.6 tonnes of coarse reject drill core samples from its 2022 Labrador West drill campaign to Studiengesellschaft fur Eisenerzaufbereitung GmbH & Co. KG (SGA) in Germany for beneficiation and metallurgical testing.
• The test work aims to produce a direct-reduction (DR)-grade pellet, targeting low-carbon steelmaking applications, with results expected to inform the upcoming Preliminary Economic Assessment (PEA).
• The Labrador West project hosts an NI 43-101 inferred resource of 655 million tonnes at 28.84% iron, located in the prolific southern Labrador Trough with access to critical infrastructure.

Key Details

• Sample Shipment: Approximately 5.6 tonnes of coarse reject drill core samples from the 2022 drill campaign were shipped for testing.
• Testing Partner: Studiengesellschaft fur Eisenerzaufbereitung GmbH & Co. KG (SGA), a globally recognized service and research centre specializing in iron ore beneficiation, pelletizing, and metallurgical testing.
• Testing Objectives:
  • Produce a direct-reduction-grade pellet.
  • Maximize iron recovery.
  • Lower deleterious elements to meet specifications of major steel producers.
  • Confirm performance in the direct reduced iron (DRI) process.
• Testing Methodology:
  • Crushing and grinding to liberate iron minerals.
  • Mineral separation using magnetic separation, gravity separation, and froth flotation.
  • Testing using technologies relying on natural gas as the main energy source/reductant.
  • Testing in next-generation green iron processes using hydrogen as a clean energy source/reductant.
• Project Resource: NI 43-101 inferred iron resource of 655 million tonnes at 28.84% iron.
• Drilling History: Approximately 7,500 metres of core in 27 completed holes drilled on the property (by Rio Tinto 2010-2012; High Tide 2020 and 2022).
• Location & Infrastructure:
  • Located less than 20 km northeast of Labrador City, Newfoundland and Labrador.
  • Proximal to infrastructure including skilled labour, highways, low-cost hydroelectricity, and a common carrier railway.
  • Railway has 80 million tonnes per year of capacity for transport to the deepwater port of Sept-Iles, Quebec.
  • Adjacent to IOCC's Carol Lake mine and near other major producers (Champion Iron, ArcelorMittal, Tacora Resources, Rio Tinto).

Notable Quotes

• "This represents an important milestone for the company and its Labrador West iron ore project. The results from this test work will form a critical input to the upcoming PEA [preliminary economic assessment], paving the way for swift project advancement." — Steve Roebuck, Director and CEO