Stillwater Critical Minerals Files Early Warning Report Regarding its Holdings of Heritage Mining

Rhea-AI Summary

Stillwater Critical Minerals (formerly Group Ten Metals) has filed an Early Warning Report regarding its 3,900,000 common shares in Heritage Mining Ltd., representing approximately 11.8% of Heritage's total shares. The shares were received alongside a $150,000 cash payment and $500,000 project work completion, fulfilling commitments for the Drayton-Black Lake gold project.

Stillwater may take future actions with these shares based on market conditions. The report aligns with National Instrument 62-103 regulations, details available on SEDAR.

Positive

• Acquisition of 3,900,000 shares in Heritage Mining Ltd. enhances investment portfolio.
• Fulfillment of project work commitment supports operational goals for the Drayton-Black Lake gold project.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "SWCM") announces it has filed an Early Warning Report related to its holdings of 3,900,000 common shares of Heritage Mining Ltd. ("Heritage") (CSE: HML) which represents approximately 11.8% of the total issued and outstand shares of Heritage. These shares were issued to Stillwater Critical Minerals as well as a cash payment of $150,000 and completion of $500,000 project work to satisfy first anniversary commitments per the Definitive Earn-In Agreement announced November 29, 2021 with respect to the Drayton-Black Lake gold project in Ontario, Canada.

The Heritage shares are held directly by Stillwater Critical Minerals for investment purposes. Additional share payments to Stillwater Critical Minerals are required under the Agreement and SWCM may in the future take such actions in respect of its shares as it deems appropriate in light of the market circumstances then existing including the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.

There are no persons acting jointly or in concert with Stillwater Critical Minerals with respect to the shareholdings in Heritage, nor has the Company entered into any agreements in respect of its shareholdings in Heritage with any person with which SWCM acts jointly or in concert.

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update currently in progress.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

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.

SOURCE: Stillwater Critical Minerals

View source version on accesswire.com:
https://www.accesswire.com/729213/Stillwater-Critical-Minerals-Files-Early-Warning-Report-Regarding-its-Holdings-of-Heritage-Mining

FAQ

What does the Early Warning Report filed by PGEZF indicate?

The report reveals Stillwater Critical Minerals holds 3,900,000 shares of Heritage Mining, accounting for 11.8% of Heritage's total shares, following cash and project commitments.

How much did Stillwater Critical Minerals pay to acquire its shares in Heritage Mining?

Stillwater paid $150,000 in cash and completed $500,000 in project work to acquire its shares in Heritage Mining.

What is the significance of the 3,900,000 shares held by Stillwater Critical Minerals?

These shares represent a notable stake in Heritage Mining, enhancing Stillwater’s investment position in the mining sector.

Where can I find more details about the Early Warning Report for PGEZF?

Details can be accessed on SEDAR at www.sedar.com, as required by National Instrument 62-103.