Strategic Minerals Europe Corp. (NEO: SNTA) (FRA: 26K0) (OTCQB: SNTAF) (“Strategic Minerals” or the “Company“), wishes to provide an update on the provisional suspension (the “Decision“) of the section C permit for the Company’s Penouta tin-tantalum mine in Spain (the “Penouta Project“) as further outlined in the Company’s press release dated October 20, 2023.
As a result of the Decision, the Company has received the support of local workers through demonstrations aggregating more than 1,000 people, as well as the support of the Workers’ Commission (CCOO), the largest trade union in Spain, along with the unions representing the workers employed at the Penouta Project. Additionally, The Xunta de Galicia, the mayors of Viana do Bolo, A Veiga and Vilariño de Conso, sector associations such as the Galician Aggregates Association, the professional associations of mining engineers and geologists, and the Mining Chamber, as well as councillors and deputies from all political parties have voiced their displeasure with the Decision. On Tuesday, October 31, 2023, Strategic Minerals employees took to the streets of Viana do Bolo to gather in a march against the Decision that brought together more than 500 people. This support has arisen because the Decision threatens the financial well-being of local families, businesses and entities in the areas surrounding the Penouta Project.
On October 23, 2023, the Company submitted an appeal (the “Appeal“) of the Decision to the Administrative Court of the High Court of Justice of Galicia (the “High Court“). There is currently no update to provide on the Appeal nor a definitive timeline as to when the Company can expect a decision from the High Court. Additional updates on the Appeal will be provided by the Company when available.
Since filing the Appeal, the local mining authority Xunta de Galicia (the “Xunta“) has requested that the Company refrain from continuing conducting mineral exploitation operations at the Penouta Project until the Appeal is decided.
Jaime Perez Branger, Chief Executive Officer of the Company stated: “The Xunta and the Company have filed the Appeal to challenge the Decision and are confident in the merits of our arguments. We firmly believe that justice will prevail and that the Appeal will lead to a successful overturning of the Decision. Strategic Minerals would like to thank all of its employees, shareholders, suppliers, the local communities and business partners for their support during this challenging time.”
About Strategic Minerals Europe Corp.
Strategic Minerals’ wholly-owned subsidiary, Strategic Minerals Spain, S.L.U. (“SMS“), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a production license for the Penouta Project. SMS is the largest cassiterite concentrate and tantalite producer in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium. Strategic Minerals is a “reporting issuer” under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR+ at sedarplus.com and its website at www.strategicminerals.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risks Factors” in the Company’s Annual Information Form dated March 30, 2023, which is available for view on SEDAR+ at www.sedarplus.com. These risks include, but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Strategic Minerals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For further information regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary, Strategic Minerals Europe Corp., ; Craig MacPhail, NATIONAL Capital Markets, , 416-525-5709
