Coniagas receives permit to start drilling at Graal

Executive Summary

• Coniagas Battery Metals Inc. received an Authorization for Impact‑Causing Exploration Work (ATI) from Quebec’s Ministry of Natural Resources and Forests, allowing diamond drilling to commence at the Graal property.
• The permit clears a regulatory hurdle and signals the company’s ability to move forward with its planned drill program targeting nickel, copper, cobalt and PGMs.
• Management highlighted the strategic importance of Graal for battery‑metal supply and indicated that further updates will follow as drilling progresses.

Key Details

• Permit Granted: Authorization for Impact‑Causing Exploration Work (ATI) issued by Quebec’s MRNF, mandatory for significant exploration activities since 6 May 2024.
• Project Scope: Diamond drilling campaign to test key geological structures identified through recent surface work and geophysical surveys at the Graal property (north of Saguenay‑Lac‑St‑Jean).
• Target Metals: Nickel, copper, cobalt with by‑product potential for platinum group metals.
• Strategic Context: Graal is positioned as a core asset to supply critical battery metals for the EV market; the location offers good infrastructure access and aligns with Quebec’s clean‑energy mineral development goals.
• Stakeholder Engagement: Consultation conducted with local communities, including the Pessamit First Nation, incorporated into project planning.
• Qualified Person Review: Technical information reviewed and approved by Maxime Bouchard, Geo, MSc (OGQ No. 1752) under NI 43‑101 standards; historical drill data not fully verified but considered indicative of exploration potential.
• Future Plans: Additional drilling to support an upcoming NI 43‑101 resource estimate, metallurgical testing, and continued indigenous consultations.

Notable Quotes

“We are excited to move forward with our drill program at the Graal property,” said Frank Basa, CEO of Coniagas Battery Metals. “Receiving this permit marks an important milestone in our exploration efforts.”