South Star Battery Metals Announces Exercise of Earn-in and Acquisition of 100% of the BamaStar Graphite Project in Coosa County, Alabama
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has successfully exercised its right to earn-in 75% of the BamaStar Graphite Project in Coosa County, Alabama, and subsequently acquired the remaining 25% to achieve 100% ownership. The company completed key requirements including: conducting drilling and resource estimation for a NI 43-101 compliant PEA, funding C$750,000 in minimum expenditures, and maintaining valid mineral leases.
The remaining 25% stake was acquired from the CML Owners for C$250,000 in South Star common shares, resulting in the issuance of 445,454 shares, pending TSX Venture Exchange approval. This strategic acquisition aligns with South Star's goal of developing diversified, vertically integrated graphite assets in Tier 1 jurisdictions. The company is transitioning from a project developer to a producing miner and integrated graphite processor in the Americas, with its Santa Cruz Mine in Brazil serving as the foundational asset.
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) ha esercitato con successo il suo diritto di acquisire il 75% del BamaStar Graphite Project nella Contea di Coosa, Alabama, e successivamente ha acquisito il restante 25% per raggiungere il 100% di proprietà. L'azienda ha completato requisiti chiave tra cui: eseguire perforazioni e stime delle risorse per un PEA conforme al NI 43-101, finanziare C$750,000 in spese minime e mantenere contratti minerari validi.
La quota restante del 25% è stata acquisita dai proprietari CML per C$250,000 in azioni comuni di South Star, risultando nell'emissione di 445,454 azioni, in attesa di approvazione dalla TSX Venture Exchange. Questa acquisizione strategica si allinea con l'obiettivo di South Star di sviluppare asset grafitici diversificati e verticalmente integrati in giurisdizioni di livello 1. L'azienda sta passando da sviluppatore di progetti a minatore produttivo e processore di grafite integrato nelle Americhe, con la sua Miniera di Santa Cruz in Brasile che funge da asset fondamentale.
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) ha ejercido con éxito su derecho a adquirir el 75% del BamaStar Graphite Project en el Condado de Coosa, Alabama, y posteriormente adquirió el restante 25% para lograr la propiedad total del 100%. La empresa completó requisitos clave, incluyendo: realizar perforaciones y estimaciones de recursos para un PEA conforme al NI 43-101, financiar C$750,000 en gastos mínimos y mantener arrendamientos mineros válidos.
La participación restante del 25% fue adquirida de los propietarios de CML por C$250,000 en acciones comunes de South Star, resultando en la emisión de 445,454 acciones, a la espera de la aprobación de la TSX Venture Exchange. Esta adquisición estratégica se alinea con el objetivo de South Star de desarrollar activos de grafito diversificados e integrados verticalmente en jurisdicciones de primer nivel. La empresa está haciendo la transición de desarrollador de proyectos a minero productor y procesador de grafito integrado en las Américas, con su Mina Santa Cruz en Brasil sirviendo como el activo fundamental.
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF)는 앨라배마주 코우사 카운티의 BamaStar Graphite Project에 대한 75%의 권리를 성공적으로 행사하였고, 이후 나머지 25%를 인수하여 100% 소유권을 달성하였습니다. 이 회사는 NI 43-101 기준에 부합하는 PEA를 위한 드릴링 및 자원 추정 수행, C$750,000의 최소 지출 자금 조달, 유효한 광물 임대 유지 등을 포함한 주요 요구사항을 완료하였습니다.
남은 25% 지분은 CML 소유주로부터 C$250,000에 South Star의 보통주로 인수되어 445,454주가 발행되었습니다. 이는 TSX 벤처 거래소의 승인을 기다리고 있습니다. 이 전략적 인수는 South Star의 목표인 1급 지역에서의 다양한 수직 통합 그래파이트 자산 개발과 일치합니다. 이 회사는 북미에서 프로젝트 개발자에서 생산 광산 운영자이자 통합 그래파이트 가공업체로 전환 중이며, 브라질의 산타 크루즈 광산이 그 기초 자산입니다.
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) a exercé avec succès son droit d'acquérir 75% du BamaStar Graphite Project dans le comté de Coosa, en Alabama, et a ensuite acquis les 25% restants pour atteindre 100% de propriété. L'entreprise a rempli des exigences clés, notamment : la réalisation de forages et d'estimations de ressources pour une étude préliminaire conforme au NI 43-101, le financement d'un minimum de C$750,000 et le maintien de baux miniers valides.
La participation restante de 25% a été acquise auprès des propriétaires CML pour C$250,000 en actions ordinaires de South Star, ce qui a abouti à l'émission de 445,454 actions, en attente d'approbation de la TSX Venture Exchange. Cette acquisition stratégique s'inscrit dans l'objectif de South Star de développer des actifs de graphite diversifiés et intégrés verticalement dans des juridictions de niveau 1. L'entreprise est en transition d'un développeur de projets à un mineur producteur et processeur de graphite intégré dans les Amériques, la mine de Santa Cruz au Brésil servant d'actif fondamental.
South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) hat erfolgreich sein Recht ausgeübt, 75% des BamaStar Graphite Project im Coosa County, Alabama, zu erwerben, und anschließend die verbleibenden 25% erworben, um 100% Eigentum zu erreichen. Das Unternehmen hat wichtige Anforderungen erfüllt, einschließlich: Durchführung von Bohrungen und Ressourcenschätzungen für ein PEA, das den NI 43-101-Vorgaben entspricht, Finanzierung von C$750,000 an Mindestausgaben und Beibehaltung gültiger mineralischer Pachtverträge.
Der verbleibende 25% Anteil wurde von den CML-Eigentümern für C$250,000 in Stammaktien von South Star erworben, was zur Ausgabe von 445,454 Aktien führte, die auf die Genehmigung der TSX-Venture-Börse warten. Diese strategische Übernahme entspricht dem Ziel von South Star, vielfältige, vertikal integrierte Graphitressourcen in Tier-1-Gerichtsbarkeiten zu entwickeln. Das Unternehmen befindet sich im Übergang von einem Projektentwickler zu einem produzierenden Bergbauunternehmen und integrierten Graphitverarbeiter in denAmerikas, wobei die Santa Cruz Mine in Brasilien als grundlegendes Asset dient.
- Achieved 100% ownership of BamaStar Graphite Project
- Successfully completed NI 43-101 compliant PEA
- Transition from developer to producer status in progress
- Strategic expansion in Tier 1 jurisdiction (USA)
- Partnership with U.S. DoD Title III program for feasibility study
- Share dilution through issuance of 445,454 new shares for acquisition
- Additional C$250,000 in share-based payment required for remaining 25% stake
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / January 21, 2025 / South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF), is pleased to announce that it has successfully exercised its right to earn-in
The drilling, resource estimation and analysis needed to produce a NI 43-101 compliant Preliminary Economic Analysis (PEA) within three years (See October 10, 2024 Press Release).
Fund an annual minimum expenditure of C
$250,000 (C$750,000 t otal) to earn75% of the Project.Extend or renew, as needed, the currently existing mineral leases and surface agreements on the Project to ensure they are valid for a period of a minimum of 12 months beyond the three-year term of the definitive earn-in period (See March 05, 2024 Press Release).
Subsequently, all the Project partners (the "CML Owners") exercised their vendor option to sell the remaining
Richard Pearce, CEO of South Star commented, "Our team continues to execute on our strategic goals of having a diversified portfolio of scalable, vertically integrated, graphite assets producing in stable, Tier 1 jurisdictions and a go-to-market commercial plan. Acquisition of
Mr. Pearce continued, "Looking ahead to 2025, South Star is poised for transformation, as we shift our focus from a project developer to a producing miner and integrated, industrial graphite processor in the Americas. We aim to leverage our first-mover advantage in onshore and near-shore, responsibly sourced graphite production, as well as continued strategic advancement into midstream and downstream products. Santa Cruz Mine, in Bahia Brazil, serves as our foundational asset as we ramp-up and scale high-quality, natural flake graphite production at a time when jurisdictions and companies are looking to derisk, diversify and strengthen supply chains. South Star is working hard to be a trusted supplier and innovator in ensuring certainty and reliability of supply of global graphite solutions for growth today, tomorrow and into the future. We would like to thank our BamaStar partners for their support and assistance during the past 3 years, and we wish them luck in their future endeavors."
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About South Star Battery Metals Corp.
South Star is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial- and battery-metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (> 30 tonnes) has been completed. The results of the testing show that approximately
South Star's second project in the development pipeline is strategically located in Alabama, U.S.A. in the center of a developing electric-vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project includes a historic mine active during the First and Second World Wars. A NI 43-101 Preliminary Economic Assessment was filed on SEDAR+ in November 2024. Trenching, Phase 1 drilling, sampling, analysis, and preliminary metallurgical testing have been completed. The testing included a traditional crush/grind/flotation concentration circuit that achieved grades of approximately 94
South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles, based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at http://www.southstarbatterymetals.com.
This news release has been reviewed and approved for South Star by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.
On behalf of the South Star Board of Directors,
MR. RICHARD L. PEARCE,
President & Chief Executive Officer
For additional information, please contact:
South Star Investor Relations
Email: invest@southstarbatterymetals.com
Phone: +1 (604) 706-0212
Website: www.southstarbatterymetals.com
Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals - YouTube
CAUTIONARY STATEMENT
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 press release.
Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to statements regarding production and scaling of operations at Santa Cruz, as well as advancing the Alabama project, and the Company's plans and expectations.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: South Star Battery Metals Corp.
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FAQ
How much did South Star Battery Metals (STSBF) pay for the remaining 25% of BamaStar Graphite Project?
What were the requirements for South Star's 75% earn-in of the BamaStar Project?
What is South Star Battery Metals' (STSBF) strategic plan for the BamaStar Graphite Project?
How does the BamaStar acquisition align with South Star's (STSBF) business transformation?
