Calgary, Alberta–(Newsfile Corp. – January 25, 2023) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (FSE: 2ZR) (“Canadian Critical Minerals” or the “Company“) hereby announces that it has executed a Facilities Agreement (“FA”) with British Columbia Hydro and Power Authority (“BCH”) for its Bull River Mine (“BRM”) project near Cranbrook, British Columbia. The FA was completed following a Facilities Study (“FS”) by BCH to define interconnection requirements and establish a timetable for BCH’s ability to meet the Company’s proposed service date. The reconnection is scheduled to be completed on or before June 30, 2023.
The BRM project is currently connected to BCH through a 12.47kV service line which provides up to 2,000 kVA in contract demand which is sufficient to continue with care and maintenance activities including dewatering of the underground mining infrastructure. Under the new FA, BCH will reconnect the Company to an existing 66kV transmission line which will provide up to 5,000 kVA in contract demand to the property. The increased demand is required for the Company to restart the mill and resume underground mining operations. The new transmission interconnection provides for reductions in energy and demand charges relative to the current unit rates. BCH’s estimate for system reinforcements and revenue metering associated with the reconnection is $150,000. The cost estimate has an accuracy range of +35%/-15%.
Ian Berzins, President and CEO commented, “To-date reconnection to the 66kV transmission line has been delayed pending delivery of some key electrical components including switchgear. All key components have now been secured. We look forward to working with BCH to complete the reconnection.”
About Canadian Critical Minerals Inc.
Canadian Critical Minerals Inc.is a mining company primarily focused on the development of two near-term copper production assets in Canada. The Company’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. The Company’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.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com
