Scottie to apply for mine permit for Scottie project

Executive Summary

• Scottie Resources Corp. has determined that its proposed Scottie gold mine project in British Columbia falls below the impact assessment thresholds for both the B.C. Environmental Assessment Act and the Canadian Impact Assessment Act.
• This regulatory determination clears the path for the company to proceed directly with the provincial permitting process, specifically targeting a joint major mine permit application under the Mines Act and Environmental Management Act.
• The company continues to advance environmental baseline studies and technical design, maintaining engagement with the Nisga'a Lisims government and local communities as part of its responsible development strategy.

Key Details

• Regulatory Determination: The project does not require a formal environmental assessment under federal or provincial laws due to its design and scale relative to applicable thresholds.
• Next Steps: Scottie intends to progress through the established provincial permitting process toward a joint major mine permit application for the Mines Act and Environmental Management Act permits, along with other ancillary approvals.
• Indigenous Engagement: The project is located within the Nass area where the Nisga'a Nation holds rights under the Nisga'a Final Agreement. Scottie is continuing collaboration with the Nisga'a Lisims government (NLG) and assessing the project under Chapter 10 (Environmental Assessment and Protection) of the agreement.
• Project Location: North of Stewart, B.C., in the Golden Triangle region.
• 2025 Preliminary Economic Assessment (PEA) Highlights:
  • Development Scenario: Low-impact direct ship ore (DSO) development supported by ore sorting and existing regional infrastructure.
  • Base-Case DSO Economics: After-tax Net Present Value (NPV 5%) of $215.8 million to $668.3 million (at gold prices of $2,600 to $4,200/oz).
  • Toll Milling Scenario: Potential toll milling at the nearby Premier mill improves economics, with an after-tax NPV (5%) of $380.1 million to $831.7 million (no agreement currently in place).
  • Capital Costs: Estimated initial capital costs of $128.6 million.
  • Production Profile: Average annual production of approximately 65,400 oz of gold over seven years.
  • Payback Period: 1.7 years for the after-tax DSO case; reduced to 0.9 years under the toll milling opportunity at $2,600/oz.
• Resource Estimate: Total of 703,000 gold ounces at an average grade of 6.1 grams per tonne (inferred category) in 3.6 million tonnes.
• Company Strategy: Continue expanding resource and defining additional mineralization around past-producing mines through systematic drilling and surface exploration.

Notable Quotes

• Dr. Thomas Mumford, CEO and President: "We are delighted to reach this important milestone for the Scottie gold mine project... This determination that the project is below the thresholds for formal environmental assessment at both the federal and provincial levels allows us to advance confidently toward permitting and development. It reflects the strength of our technical work and environmental baseline programs, and underscores our commitment to responsible project delivery in partnership with regulators, indigenous nations and local communities."
• Eva Clayton, President, Nisga'a Lisims Government: "NLG acknowledges Scottie Resources' continued engagement with the Nisga'a Nation and its commitment to advancing the Scottie gold mine project in accordance with the requirements of the Nisga'a final agreement... We remain focused on ensuring the Nisga'a Nation's rights and interests are protected through the assessment and permitting process, including consideration of environmental protection measures, cultural values and opportunities for Nisga'a citizens and businesses."