Muzhu Mining optionee sends sampling crew to Everett

Executive Summary

• Muzhu Mining Ltd. has mobilized field crews to the Everett property in Quebec to collect metallurgical samples following the signing of a definitive option agreement to acquire the property from Romaine River Titanium Inc.
• The sampling program is supported by a $462,000 budget from the Elements08 Strategic Metals Excellence Centre, which includes a non-dilutive government funding award of up to $323,000.
• The primary objective is to investigate the extraction of titanium and vanadium from the Everett hemo-ilmenite oxide body, with a focus on verifying historical metallurgy and testing advanced separation techniques.

Key Details

• Transaction Context: Muzhu signed a definitive option agreement to acquire the Everett property from Romaine River Titanium Inc.
• Funding Structure: The program is funded by the Elements08 Strategic Metals Excellence Centre (funded by the Government of Quebec) with a total budget of $462,000.
• Non-Dilutive Award: The program includes a non-dilutive funding award of up to $323,000.
• Sample Collection: Crews collected approximately 1,200 kilograms of semi-massive ilmenite rocks from historical bulk-sampling site (Site 5) and rock exposures of the Everett oxide body.
• Testing Objectives:
  • Verify historical metallurgy.
  • Test quality of oxide mineralization for titanium and vanadium production.
  • Evaluate efficacy of various separation methods (grinding, magnetic, and gravity separation) to produce high-quality ilmenite concentrates.
  • Test innovations in vanadium leachability.
• Technical Partners: The program involves a collaboration with Centre technologique des residus industriels (CTRI), Impact Global Solutions (IGS), and Corem. Corem will lead the testing in Quebec City.
• Technical Methods: The program employs advanced characterization techniques, including automated mineralogy analysis (MLA), to examine mineral morphology, granulometry, liberation, and association. Chemical assays will quantify titanium, vanadium, iron, and other critical minerals.
• Additional Activities: While on site, crews surveyed additional locations to support the permitting of twinning historical drill holes.
• Compliance: Julien Davy, PGeo, is the independent qualified person who reviewed and approved the technical information under National Instrument 43-101.

Notable Quotes

• "The financial benefit of the Romaine collaboration agreement with Elements08 is certainly valuable to the Everett project. However, the company considers the depth of metallurgical process research expertise provided by the Elements08 team to be invaluable. We will continue our efforts to foster deep connections in Quebec in furtherance of a creating the foundation of a robust critical minerals supply chain." — Dwayne Yaretz, CEO of Muzhu Mining Ltd.