Military Metals Summarizes 2024 and Provides Outlook for 2025, Antimony Price Reaches $38,000 USD per Tonne, up 192% for the Year

Rhea-AI Summary

Military Metals Corp. (MILIF) has provided a summary of its 2024 activities and outlook for 2025. The company entered the antimony market in September 2024 and has built a portfolio of brownfield antimony projects with high antimony-to-gold ratios. Antimony prices surged 192% from $13,000 to $38,000 USD per tonne in 2024.

The company's key acquisitions include the Trojarová Project in Slovakia, the West Gore Project in Nova Scotia, and the Last Chance Project in Nevada. For 2025, MILIF plans to focus on Trojarová, aiming to publish a NI-43-101 resource estimate followed by a Preliminary Economic Assessment. The company has received multiple bids from global firms for the resource estimate work.

Positive

• Antimony price increased 192% to $38,000 USD per tonne in 2024
• Acquired three brownfield antimony-gold projects in top mining jurisdictions
• Trojarová project has existing historical resource with 63 drill holes and 14,300 meters of drilling

Negative

• No current NI 43-101 compliant resource estimates on any properties
• $75,000 USD marketing expense for Katusa Services

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2024) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "MILI") is pleased to provide a summary of its 2024 activities and an outlook for 2025. The Company announced its first antimony property acquisition on September 24, 2024 and has since amassed a world-class portfolio of brownfield antimony projects with high antimony to gold ratios in top mining jurisdictions. Antimony is one of the top performing commodities for 2024 beginning the year at $13,000 USD per tonne and now rising to $38,000⁽¹⁾, and investor interest in the sector has been tremendous.

"On behalf of the Company I would like to thank all of our stakeholders for a tremendous year of growth as we transitioned into a mining issuer. We accomplished a lot with our foray into the antimony space, yet our work has just begun with an exciting 2025 ahead of us. Several management and board level additions have strengthened our team. We look forward to de-risking our flagship asset in the European Union and capturing the value of the rising antimony price." stated Scott Eldridge, CEO and Director.

2024 Property Acquisitions

• Trojarová Antimony-Gold Project:

Located in western Slovakia adjacent to and on trend of one of Europe's most significant historical antimony-gold mines (Pezinok), Trojarová was the recipient of 63 drill holes for a total of 14,300 meters and 1.7 kilometers of underground development including detailed mapping at 1:200 scale and over 350 samples taken, leading to preparation of a historical resource estimate in 1991 (please see the Company's news release dated November 16, 2024 for additional details). Digitization and georeferencing of all historical data is currently underway so that an independent consulting firm will be able to build a three-dimensional deposit model and recommend to management the number, location and length of confirmation and infill holes necessary to classify an updated, current mineral resource.

• West Gore Antimony-Gold Project, Canada:

Located in rural Nova Scotia, West Gore was an important producer of antimony during World War One, with concentrate shipped to England to assist in the war effort. Located just off the east edge of the historic Rawdon Hills gold camp, West Gore hosts gold along with antimony in a structural setting typical of this district. Company management continues to collect and compile historical and related technical data with an aim to launch a field program in Q2-3/2025. Please see the Company's news release dated September 24 for additional details about the West Gore property.

• Last Chance Antimony-Gold Project, USA:

Last Chance, located near Tonopah, Nevada, 18 kilometers west of Kinross's Round Mountain gold mine, was originally discovered in 1880 and produced intermittently during a few periods up to the 1950s. Host to gold mineralization along with antimony, the property was explored for gold during the 1980s but has seen no antimony exploration in several decades. Management continues to collect and compile historical and related technical data and plans a first phase field program for Q2-3/2024 after the winter snows have melted. Please refer to the Company's news release dated November 14, 2024 for additional details about the Last Chance property.

2025 Outlook

The Company plans to conduct exploration activities across its portfolio with a focus on the Trojarova Antimony-Gold Project. Trojarova hosts a soviet era historical resource with high-grade antimony and a gold by-product. The Company plans to hire a third party resource firm to assist in publishing a NI-43-101 resource to be followed immediately by a Preliminary Economic Assessment. On November 25, 2024, MILI announced an invitation to tender bids for carrying out a resource estimate, multiple bids have been submitted from top global firms with strong technical credentials, a final decision will be made shortly. In preparation for the resource estimate MILI's geological team has been working diligently to translate and compile extensive historical work in the necessary databases. The Company also plans additional exploration work on several other of its antimony properties.

Investor Relations Engagements

The Company further announces it has entered into a one-time media services arrangement with Katusa Research ("Katusa") in which Katusa will provide the Company with marketing services, which includes, video content creation, distribution, digital marketing, in connection with a video interview being conducted by Katusa (the "Katusa Services") for distribution on popular investor platforms such as YouTube and PerfMax. The Katusa Services will commence on December 23, 2024, and launch in the new year. The Company will make a one-time payment to Katusa of $75,000 USD, as consideration for the Katusa Services. Katusa and may be contacted at 778-737-7381 or subscribers@katusaresearch.com, or Suite 530, 800 West Pender Street, Vancouver, BC V6C 2C6. The Company will not issue any securities to Katusa as compensation. Katusa is arm's length to the Company and does not have any interest, direct or indirect, in the Company or its securities nor do they have any right to acquire such an interest.

The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, geological consultant to Military Metals and a qualified person as defined by NI 43-101.

About Military Metals Corp.

The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development of mineral properties with a focus on antimony.

ON BEHALF OF THE BOARD of DIRECTORS

For more information, please contact:

Scott Eldridge
CEO and Director

scott@militarymetalscorp.com

For enquiries, please call 604-722-5381 or 604-537-7556

This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-Looking information in this news release includes statements related to the filing of a NI 43-101 compliant technical report, the filing of the Business Acquisition Report completed Definite Agreements, as well as future plans for exploration activities, and assumptions related to the continuation of the global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include meeting the conditions of the Definitive Agreements, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subject of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both and any future activities in respect of the properties. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-Looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results 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. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

(1)https://www.reuters.com/markets/commodities/critical-metals-will-be-key-battleground-us-china-trade-war-andy-home-2024-12-17/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234925

FAQ

What was the antimony price increase for MILIF's commodities in 2024?

Antimony prices increased by 192% in 2024, rising from $13,000 to $38,000 USD per tonne.

What are the three main antimony projects acquired by MILIF in 2024?

MILIF acquired the Trojarová Project in Slovakia, the West Gore Project in Nova Scotia, and the Last Chance Project in Nevada.

What are MILIF's main development plans for the Trojarová project in 2025?

MILIF plans to publish a NI-43-101 resource estimate followed by a Preliminary Economic Assessment for the Trojarová project.

How much historical drilling data exists at MILIF's Trojarová project?

The Trojarová project has 63 drill holes totaling 14,300 meters and 1.7 kilometers of underground development.