Licensing Process Update

Rhea-AI Summary

Boron One Holdings (TSXV:BONE) announces that its subsidiary, Balkan Gold, has submitted revised documentation for the 'Approval of the Exploitation Field' for its Piskanja Boron Project to the Serbian Mining Ministry. While most supplemental documentation was provided within the required 30-day window, chemical analysis from an independent lab exceeded this timeframe. Balkan Gold has now received these results and requested a deadline extension to submit an annex integrating this data. This approval represents a important step in the mine licensing process.

Positive

• Progress in mine licensing process with submission of revised documentation
• Chemical analysis results received from independent laboratory

Negative

• Delay in completing documentation submission within required 30-day window
• Need for deadline extension could potentially slow licensing process

VICTORIA, BC / ACCESSWIRE / November 28, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE), a company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets, reports that its wholly owned subsidiary, Balkan Gold d.o.o., has submitted revised and supplemental documentation (the "Documentation") regarding its application for the "Approval of the Exploitation Field" for its Piskanja Boron Project as requested by the Mining Ministry, further to the Company's press releases dated July 2, 2024 and October 28, 2024. The Approval of the Exploitation Field is a requisite step in the mine licencing process.

Balkan Gold endeavoured to provide all of the supplemental Documentation for further review, within the allotted 30-day window granted by the Serbian Mining Ministry. The request included chemical analysis of certain samples which could only be completed by an independent metallurgical laboratory, and was therefore beyond the control of Balkan Gold to provide within the 30-day time frame. Subsequently, Balkan Gold has received the results of the chemical analysis, and is in the process of integrating those results into the previously submitted Documentation. As a result, Balkan Gold has requested a short extension to the submission deadline in order to provide an annex.

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About the Piskanja Boron Project

Piskanja is Boron One Holdings Inc.'s wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48 million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resource of 284.7 thousand tonnes (averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in the Company's report titled, "Technical Report and Preliminary Economic Assessment For The Piskanja Borate Project, Serbia, June 24, 2022". The responsible person for the PEA and the Mineral Resource Estimate contained within, is Prof. Miodrag Banješević PhD. P.Geo, EurGeol, a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Boron One Holdings Inc.

On behalf of the Board of Directors,
Tim Daniels

About Boron One Holdings Inc. (formerly known as Erin Ventures Inc.)

Boron One Holdings Inc. is a leading company dedicated to advancing the decarbonization of our planet through the responsible utilization of its wholly owned boron assets in Serbia. With a commitment to environmental stewardship and sustainability, Boron One aims to play a crucial role in reducing the world's carbon footprint and supporting a cleaner, greener future for us all.

Headquartered in Victoria, B.C., Canada, Boron One's shares are traded on the TSX Venture Exchange under the symbol "BONE". For detailed information please see Boron One's website at www.boronone.com or the Company's filed documents at https://www.sedarplus.ca/.

For further information, please contact:		Boron's Public Quotations:
Blake Fallis, General Manager		TSX Venture: BONE
Phone: 1-250- 384-1999 or 1-888-289-3746		Berlin: EKV
info@boronone.com		US: SEC 12G3-2(B) #82-4432ERVFF
www.boronone.com		OTCBB: ERVFF

Qualified Persons

Nenad Rakic, EurGeol, Piskanja Project Field Manager, a qualified person as defined by NI 43-101, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Boron One Holdings Inc. Investors

Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, Boron One's expectations concerning management's plans, objectives and strategies, including its plans for advancing the Company's Piskanja Project through to an exploitation license. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry.

Boron One Holdings Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Boron One with the securities regulatory authorities, available at www.sedar.com. These and other factors made in public disclosures and filings by the Company should be considered carefully.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

SOURCE: Boron One Holdings Inc.

View the original press release on accesswire.com

FAQ

What is the current status of Boron One Holdings' Piskanja Project licensing process as of November 2024?

As of November 2024, Boron One Holdings has submitted revised documentation for the Exploitation Field approval, with a pending deadline extension request to submit additional chemical analysis results.

Why did Boron One Holdings (TSXV:BONE) request an extension for their mining documentation submission?

The extension was requested because chemical analysis samples required independent laboratory testing, which exceeded the initial 30-day submission window granted by the Serbian Mining Ministry.

What is the next step in Boron One Holdings' Piskanja Project licensing process?

The next step is the integration of chemical analysis results into the previously submitted documentation and submission of an annex to complete the Exploitation Field approval process.