TORONTO, ON / ACCESSWIRE / November 22, 2022 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) wishes to provide the following update on the developing carbon markets and our own carbon offset projects. In recent news from the COP27 climate summit, US climate Envoy John Kerry revealed a new plan to raise money for climate initiatives in the developing world by selling carbon credits to companies wishing to offset their emissions. Kerry said the new US initiative should be "up and running" within a year.
Big Tree is evaluating our current projects while working to increase our partnerships with First Nations. Both voluntary carbon market and compliance carbon market projects are possible through the American Carbon Registry ("ACR") improved forest management and Verra Canadian forest carbon offset methodologies, respectively. The Federal Government's release of compliance project protocols are expected in the spring of 2023.
Lac Seul Pilot Project:
The Lac Seul pilot project is currently awaiting an updated offset feasibility study by Anew Climate, LLC ("Anew", previously Blue Source Canada ULC). Kick-off of the project is expected to begin shortly after confirmation from the new Lac Seul Band council recently sworn in after elections.
Ogoki Forest Project:
The Ogoki Forest project also has a pre-feasibility assessment from Anew. Based on this assessment, Big Tree entered into an offset development agreement with Agoke Development LP ("ADLP"), the First Nations forestry corporation which manages the Ogoki Forest management unit. Big Tree has a 25% revenue sharing interest for up to 10 years on this project (see the Press Releases dated March 1, 2022 and November 8, 2021). This project is awaiting the release of carbon offset protocols for crown land, expected to be released in the spring of 2023 along with the awarding of an engineering contract to register and create the carbon offsets.
ABOUT BIG TREE CARBON INC.
Big Tree is a carbon sequestration natural resource developer and a mineral exploration company focused on the acquisition, exploration, and development of gold properties. Big Tree has a portfolio of Forest Carbon projects under development namely the Lac Seul and Agoke projects - and several mineral exploration assets in Ontario, which include the Richardson Lake, Ranger Lake, Dancing Man and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
Christopher Angeconeb
President and C.E.O.
(807) 737-5353
[email protected]
Ian Brodie-Brown
Director of Business Development
(416) 844-9969
[email protected]
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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SOURCE: Big Tree Carbon Inc.