SOUTH STAR BTTEY METALS - STSBF STOCK NEWS

South Star Battery Metals Corp. has announced a significant milestone with the completion of its inaugural mineral resource estimate for the BamaStar Graphite Project in Coosa County, Alabama. The estimate reveals 520,000 tonnes of contained graphite, with 22 million tonnes of inferred resources at an average grade of 2.4% (Cg). This evaluation was based on 12 drill holes totaling 506 meters of HQ diamond drilling conducted in 2022. The project shows potential for open-pit mining and will undergo another drilling program starting in May 2023 to support a planned Preliminary Economic Assessment (PEA) set for Q1 2024.

South Star Battery Metals Corp. has shared its 2022 year-end review and 2023 plans, announcing significant progress despite challenging equity markets. The company is fully funded for Phase 1 construction at the Santa Cruz Graphite Mine, aiming for commercial production by December 2023. Key achievements include successful financing, mobilization of contractors, and ongoing environmental permitting processes for future phases. The BamaStar project has also advanced, with a maiden resource estimate expected in March 2023. South Star continues to position itself to meet growing demand for graphite, forecasting strong production targets and emphasizing a vertically integrated business model.

South Star Battery Metals Corp. has completed its maiden diamond drilling program at the Ceylon Project in Alabama, consisting of 12 holes over 506 meters. The results confirmed significant mineralization with 324.5 meters and an average grade of 2.12% Cg. The drilling demonstrated consistent intervals of mineralization between 1.5% to 4.5% Cg, paving the way for a maiden NI 43-101 resource estimate scheduled for Q1 2023. The company also completed a 3-ton pilot testing program successfully, indicating strong potential for the project's commercial viability amidst growing demand for graphite.

South Star Battery Metals Corp. (STSBF) announced the completion of a non-brokered private placement totaling C$230,166 on January 10, 2023. The funds raised will support exploration, development, and operational costs, with Phase 1 production planned for Q4 2023 at the Santa Cruz Graphite Project in Brazil. The placement involved issuing 434,277 units at C$0.53 each, granting warrant holders the ability to purchase shares at C$1.25 for five years. The company anticipates significant growth and cash flow amid a global deficit in critical metal supplies.

South Star Battery Metals Corp. (TSXV: STS, OTCQB: STSBF) announced key updates on its Santa Cruz Graphite Mine project in Bahia, Brazil, with construction and commissioning scheduled for December 2023. Major equipment contracts are set to be finalized by January 2023, while environmental permitting for Phases 2 & 3 is on track for submission in early Q1 2023. The company is doubling production capacity to 50,000 tonnes per year across 11 mining claims, with work expected to complete in the next 12 months.

South Star Battery Metals Corp. has successfully closed a US$10 million Phase 1 Deposit transaction with Sprott Private Resource Streaming and Royalty Corp., fully funding its Santa Cruz Graphite Project in Brazil. The total cash consideration under the agreement can reach US$28 million for graphite concentrates. The funds will cover 100% of the Phase 1 CAPEX, with commercial production slated for Q4 2023. The financing minimizes shareholder dilution, positioning South Star for growth as it aims to become the first new graphite producer since 1996.

South Star Battery Metals Corp. (TSXV: STS, OTCQB: STSBF) has completed the second tranche of its non-brokered private placement, raising C$2,326,700 from global institutional investors. These funds will support exploration, development, and working capital, with Phase 1 commercial production slated for Q4 2023. The company is poised to meet the conditions for closing a US$10,000,000 streaming agreement with Sprott, ensuring full funding for the Santa Cruz graphite mine construction in Brazil. The company aims to be the first new graphite producer since 1996.

South Star Battery Metals Corp. has successfully completed the first tranche of its non-brokered private placement, raising C$2,308,863. The funding primarily comes from global institutional investors and will support exploration, development, and general working capital. The company anticipates closing the second tranche and finalizing a US$10 million agreement with Sprott for its Santa Cruz Graphite mine in Brazil this November. Phase 1 construction is now fully funded, aiming for production by the end of 2023.