BlackRock (“the Project”) is a fully integrated, environmentally enhanced, metals and materials manufacturing project from its wholly-owned vanadium and titanium bearing magnetite (“VTM”) deposit. The Mine and Concentrator portion of the Project is located approximately 700 km north of Montréal, and 20 km southeast (60 km by road) of Chibougamau, Québec on traditional Cree lands within the James Bay Territory.

The metallurgical facility portion of the Project is located at Port Saguenay, a Federal deep sea port and industrial park with access to the St. Lawrence Seaway. Port Saguenay is 380km south of Chibougamau which is connected by existing railway. Both the mine site and metallurgical facility are fully permitted to commence construction.

The Project includes what will be the first VTM mine in North America and one of the lowest carbon emitting metallurgical plants in the world. The plant is designed to be green hydrogen ready and BlackRock’s plans call for these critical and strategic minerals to be transformed into green products used by industry to produce high quality metal alloys and advanced batteries, reducing the global greenhouse gas emissions of producing such products.

BlackRock has an Impact Benefit Agreement in place with the Cree Nation Government and the Ouje-Bougoumou Cree Nation, Development Agreements in place with the Innu First Nations and Co-operation Agreements in place with nearby municipalities.