Calgary, Alberta--(Newsfile Corp. – September 12, 2022) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) (FSE:2ZR) ("Braveheart" or the "Company") announced today that the Company is not aware of any undisclosed material information that might be contributing to the recent decline in the Company’s share price.
Braveheart continues to work with the Ministry of Energy, Mines and Low Carbon Innovation (“EMLI”), the Ministry of Environment and Climate Change Strategy (“ENV”) and the Environmental Assessment Office (“EAO”) of British Columbia on its pre-application process to amend its current Mines Act permit M-33 and Environmental Management Act permit PE-16034 at the Bull River Mine near Cranbrook, British Columbia to facilitate a restart of operations. Braveheart plans to restart operations at the designed capacity of 700 tonnes per day.
On May 3, 2022, Braveheart received notification from the EAO that they had received written notification from the Ktunaxa Nation Council requesting that the Bull River Mine Project be designated as reviewable under Section 11 of the Environmental Assessment Act (2018). The Company contends that the project should not be reviewable because it is not new, it is substantially built and there will not be any material change to the current disturbance area. This request and the Company’s response is posted publicly and can be viewed at EAO Project Information Centre. The EAO completed their draft review on July 21, 2022, and have provided interested parties up until August 11, 2022, to provide additional comment. The Company expects to receive a final determination from ENV within the next 30 days.
The Bull River Mine is fully developed and dewatered with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 700 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads. Additionally, there is approximately 180,000 tonnes of mineralized material on surface.
About Braveheart Resources Inc.
Braveheart is a mining company primarily focused on two near-term copper production assets in Canada. Braveheart's main asset is the 100% owned Bull River Mine project (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Braveheart Resources Inc.
President & Chief Executive Officer
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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