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Capacitor Metals Corp. enters into Agreement to Purchase Blue River Assets and Announces Financing

Monday, 17 June 2024 03:05 AM

Capacitor Metals Corp.

Not for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / June 17, 2024 / Capacitor Metals Corp. (the "Company" or "Capacitor") has entered into a property purchase agreement (the "Purchase Agreement") with Commerce Resources Corp. (the "Vendor" or "Commerce") to purchase 100% of its interest in certain mineral claims comprising the "Blue River" property (the "Blue River Claims") located near Blue River, British Columbia.

As consideration for the Blue River Assets, Commerce will receive 20,000,000 common shares of Capacitor Metals Corp. at a deemed price of $0.05 per share (the "Capacitor Shares") to be held by Commerce Resources and in time, distributed to Commerce's shareholders when regulations allow. Completion of the Blue River Transaction is subject to the conditions set forth in the Purchase Agreement, including, if required, acceptance by the TSX Venture Exchange.

As part of the transaction, the sale will also include certain real property owned by Commerce located in Blue River, B.C. (the "Blue River Land", and together with the Blue River Claims, the "Blue River Assets").

Capacitor has signed an agreement with Zimtu Capital Corp. for a ten-month management services contract that includes administrative and managerial services, including corporate maintenance, continuous disclosure, and corporate compliance services to the Company.

About Capacitor Metals Corp.

Capacitor Metals Corp. is a British Columbia Incorporated Company focused on the development of the Blue River Tantalum-Niobium Property located in British Columbia, Canada. The Company is positioning to be one of the lowest cost tantalum-niobium producers globally, with a specific focus on being a long-term supplier of tantalum and niobium to the global market.

The Blue River Property is a fully serviced site in mining-friendly British Columbia, Canada with excellent infrastructure close at hand, including rail, paved road, water, and power adjacent to project site.

The Property contains three known deposits of tantalum and niobium and an additional 20+ known exploration targets.

The Project is advanced with significant work already completed. CAD$34M+ has been spent to date, including 271 drill holes, an historical Preliminary Economic Assessment ("PEA"), community consul-tations, and preliminary metallurgical and environmental work.

Within the Blue River Property, the Upper Fir deposit has a significant historical indicated resource of 9.6M kg contained tantalum and 77.8M kg contained niobium plus an historical inferred resource of 1.0M kg contained tantalum and 9.6M kg contained niobium.

Historically (2013) the Project was considered one of the world's largest and low-cost potential near-term supplier of conflict-free tantalum. The PEA completed on the Upper Fir deposit, defining a low capital expenditure project that could produce 700,000 lbs. Ta2O5 annually, outlining its potential to be the world's largest tantalum producer.

Expansion potential to Upper Fir, Fir and additional deposits provides further production upside.

The Company intends to finance the ongoing exploration and marketing of the Blue River deposit with a five-cent private placement unit for up to $2,000,000. The financing will facilitate an updated 43-101 technical report and a new strategic plan to move the company forward. The financing will rely on exciting exceptions and preference will be given to Commerce and Zimtu shareholders.

The Capacitor team will be led by Dave Hodge and will include:

Dave Hodge

Founder and former CEO of Commerce Resources Corp. Dave led the team that IPO'd Commerce Resources, the original Blue River Project owners in 2001. Dave and Commerce raised more then $34M towards the advancement of the Blue River Project.

Dr. Axel Hoppe, PhD. Chem

Axel is an internationally acknowledged leader in the global tantalum market. Formerly Head of Technical Services and Engineering Group for H.C. Starck, the world's largest consumer of tantalum. President of the Tantalum and Niobium International Study Center for the years 2002 and 2007

Justin Schroenn

Another former Commerce Resources man, Justin goes back 8 years with the Blue River project. Justin has raised significant capital for both Blue River Project and its former sister project, the Ashram Rare Earth Element project in Quebec and is well known to both Capacitor and Commerce shareholders.

Max Lentz, MBA

Max has over 40 years background in business ownership and management. He was an Electoral Area Director for the Thompson Nicola Regional District (TNRD) representing Area "B" (Avola - Blue River). Max was also a Director for the Thompson Regional Hospital District, and the Vice Chair for the TNRD Regional Growth Strategy Committee. His major accomplishments include bringing TELUS Cell Phone towers and High-Speed Internet to Blue River and other communities.

Nate Schmidt, B.Sc., P.Geo.

A Senior Geologist at Dahrouge Geological, Nate has planned and managed multi-drill programs and ground geological programs for a variety of commodities across Canada, the United States and Africa. Commodity experience has been focused on metallurgical coal, cobalt, lithium, rare metals, and uranium.

Mike Hodge

Mike's hands-on experience with the Blue River project extends back to 1999 when he hand-staked the claims mid-winter. He has been central to field operations on the project and relationships with the local communities ever since.

For more information, please visit the corporate website at www.capacitormetals.com or email [email protected].

On Behalf of the Board of Directors

Capacitor Metals Corp.

"Dave Hodge"

Dave Hodge
President and Director
Tel: 604.484.2700
Email: [email protected]
Web: www.capacitormetals.com

Forward Looking Statements

This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward looking statements in this news release include that the Company is specifically focused on the development of its Blue River tantalum and niobium deposit in British Columbia,

It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.

SOURCE: Capacitor Metals Corp.

Topic:
Company Update
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