MONUMENTAL MINERALS CORP. AMENDS OPTION AGREEMENT WITH LITHIUM CHILE INC. FOR THE SALAR DE TURI PROJECT IN THE LITHIUM TRIANGLE, CHILE

Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF)has amended the option agreement (the “Option Agreement”) with Lithium Chile Inc. (“Lithium Chile”) (TSX-V: LITH) for the Turi property (the “Property”) located within the Lithium triangle about 120 km northwest from the Salar de Laguna Blanca and 60 km northeast from the city of Calama, Chile. 

Amended Terms of the Option Agreement

Under the amended terms of the Option Agreement (see the Company’s news release dated October 6, 2022), in order to exercise the option to acquire a 50.01% interest in the TuriProject, Monumental must make certain staged cash payments to Lithium Chile and incur exploration expenditures on the TuriProject as follows: 

(a) In the event of Monumental entering into a joint-venture agreement with a third party on the Property (the “JV Agreement”):

make cash payments to Lithium Chile of an aggregate of $700,000 according to the following schedule:

(i) $200,000 within five (5) days of the date on which the Option Agreement and the transaction contemplated herein is accepted for final approval by the TSX Venture Exchange (the “Exchange”) (the “Acceptance Date“)(Exchange approval previously obtained and cash has been paid to Lithium Chile);

(ii) $250,000 within five (5) days of the effective date of the JV Agreement; and

(iii) $250,000 on or before October 5, 2025.

Incur minimum expenditures on the Property of not less than an aggregate of $1,400,000 on or before October 5, 2025.

(b)  In the event no JV Agreement is entered into by October 31, 2024:

make cash payments to Lithium Chile of an aggregate of $700,000 according to the following schedule:

(i) $200,000 within five (5) days of the Acceptance Date (paid);

(ii) $250,000 on or before October 31, 2024; and

(iii) $250,000 on or before October 5, 2025.

Incur minimum expenditures on the Property of not less than an aggregate of $1,400,000 on or before October 31, 2025.

The Company continues discussions with the representatives of the Turi community to finalize the timing, payments, and plans as it relates to drilling on the Turi project, however, there is no assurance that the Company’s efforts will be successful. 

About Monumental Minerals Corp. 

Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border, which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 75% interest and title to the Laguna Blanca project located in Chile; and the Company has an option to acquire a 50.01% interest and title to the Turi project located in Chile.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information: 

Dr. Jamil Sader, CEO

Email: [email protected]

Mr. Maximilian Sali, VP Corporate Development

Email: [email protected]

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 news release.

Forward Looking Information 

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation carrying out exploration work (including drilling) on the Turi project, the potential plans for the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks,uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, geopolitical conflicts, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to obtain and/or maintain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐lookinginformation, except as required by law.

MONUMENTAL MINERALS PROPORCIONA ACTUALIZACIÓN SOBRE LA PERFORACIÓN EN EL PROYECTO DE ELEMENTOS DE TIERRAS RARAS PESADAS JEMI, MÉXICO

Comunicado de prensa – Vancouver, Columbia Británica – 15 de Agosto de 2023: Monumental Minerals Corp. (“Monumental” o la “Compañía“) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) se complace en brindar una actualización sobre la perforación en el proyecto de elementos de tierras raras (REE) Jemi (el “Proyecto”) en Coahuila, México, a unos 40 km al sur de la frontera con Texas, Estados Unidos.

Una plataforma de perforación diamantina de Globexplore Drilling SA comenzó a perforar en el área prospectiva de Veladora North dentro de las concesiones de Monumental a partir de principios de Julio para probar áreas con altas concentraciones de diques y umbrales mineralizados con REE en la superficie (consulte el comunicado de prensa de la Compañía con fecha del 12 de Julio de 2023) . Hasta la fecha, se han perforado 1800 metros (m), con profundidades de pozo que van desde 50 a 321 m. Se han completado doce barrenos y actualmente se está perforando un último barreno 13, con una profundidad objetivo de 50 a 75 m. El primer lote de 188 muestras ha sido enviado a Laboratorios ALS (Zacatecas, MX) y se esperan resultados en aproximadamente 3 semanas.

Dr. Jamil Sader, CEO y Director comenta:

“Las muestras de núcleo en el proyecto Jemi REE demuestran que los minerales eudialitos, que albergan la mayoría de las tierras raras, se extienden hacia el dique y los alféizares peralcalinos del subsuelo. Es alentador ver que los cuerpos intrusivos intersectados durante la perforación son significativamente más grandes que sus expresiones superficiales. Somos muy optimistas de que los resultados de los ensayos de laboratorio cuantificarán aún más las evaluaciones visuales de la mineralización de tierras raras en muestras de núcleos”.

Numerosos diques, umbrales y venas peralcalinas intrusivas, con eudialito identificable (Figura 1) fueron intersectados en los agujeros terminados. Eudialyte es el mineral que se asocia más comúnmente con REE en Jemi. Estos diques y sills peralcalinos tienden a ocurrir en zonas estructurales que parecen estar adyacentes a cuerpos más grandes de intrusiones sieníticas y están asociados con mineralización de skarn irregular en los contactos con las rocas sedimentarias de carbonato huésped. Estas zonas tienen varias decenas de metros de ancho en el fondo del pozo. La sienita puede ser el alimentador de las características peralcalinas (rocas parentales) y las rocas intrusivas pegmatíticas. Los minerales que contienen elementos de tierras raras ligeras (LREE), como la monacita y la xenotima, también se han identificado mediante inspección visual.

El proyecto Jemi se caracteriza por amplias áreas de REE de diques y filones mineralizados de REE relacionados con intrusiones peralcalinas en los márgenes del complejo ígneo La Vasca observado en esa superficie (véase el comunicado de prensa de la empresa de fecha 4 de 2023). Estos cuerpos intrusivos contienen altos grados de elementos de tierras raras pesadas (HREEs) disprosio (Dy) y terbio (Tb), elementos de tierras raras ligeras (LREE), neodimio (Nd) y praseodimio (Pr), todos ellos críticos para los imanes permanentes de los vehículos eléctricos. Además, las muestras contienen altas concentraciones de niobio (Nb) y tantalio (Ta).

Figura 1. Eudialita en rocas intrusivas peralcalinas a una profundidad de 64 m por debajo de la superficie del suelo en el pozo de perforación JV-23-11.

El valor de los elementos de tierras raras y la transición energética global

Debido a sus propiedades físicas y químicas inusuales, los REE tienen diversas aplicaciones de tecnología energética, industrial y militar. Se proyecta que los imanes de tierras raras mantendrán una cuota de mercado dominante, impulsando vehículos eléctricos y otros tipos de motores eléctricos (por ejemplo, turbinas eólicas, bombas de agua) esta década, ya que existe un riesgo de sustitución mínimo o nulo. Los imanes más potentes son los de neodimio-hierro-boro (NdFeB) y se utilizan cuando existen restricciones de espacio y peso. La adición de terbio y disprosio a los imanes de NdFeB puede duplicar su temperatura operativa óptima de 80 °C a 160 °C. Además, el disprosio con praseodimio aumenta la coercitividad de un imán (la resistencia de un material magnético al cambio de magnetización).

Los cuatro REE clave (Nd, Pr, Dy, Tb) representan el 94% del mercado de REE por valor, todos los cuales están enriquecidos en muestras de superficie recolectadas en Jemi (consulte el comunicado de prensa de la Compañía con fecha del 4 de Abril de 2023). Las concentraciones de Nb y Ta también están enriquecidas y podrían ser económicamente significativas.

Persona calificada

La información científica y técnica contenida en este comunicado de prensa ha sido revisada y aprobada por Kristopher J. Raffle, P.Geo. (BC) Director y consultor de APEX Geoscience Ltd. de Edmonton, AB, un Director de la Compañía y una “Persona Calificada” como se define en el Instrumento Nacional 43-101 – Estándares de Divulgación para Proyectos Minerales. El Sr. Raffle verificó los datos divulgados, que incluyen una revisión de los datos de muestreo, analíticos y de prueba que subyacen a la información y las opiniones contenidas en ellos.

Acerca de Monumental Minerals Corp.

Monumental Minerals Corp. es una compañía de exploración minera enfocada en la adquisición, exploración y desarrollo de propiedades de recursos minerales en el sector de metales críticos y eléctricos. El activo principal de la Compañía es el proyecto Jemi HREE ubicado en Coahuila, México, cerca de la frontera con Texas, EE. UU., sobre el cual la Compañía tiene la opción de adquirir el 100% del proyecto de 3,650 hectáreas. La Compañía tiene una opción para adquirir una participación del 75% y el título del proyecto de salmuera de cesio-litio Laguna ubicado en Chile y una participación del 50,01% en el proyecto de litio Salar De Turi en Chile.

En representación de la Junta Directiva,

/f/ “Jamil Sader”

Jamil Sader, Director General y Director

Información del contacto:

Correo electrónico: [email protected]

O

Max Sali, VP de Desarrollo Corporativo y Director

Correo electrónico: [email protected]

Ni TSX Venture Exchange ni su Proveedor de Servicios de Regulación (según se define ese término en las políticas de TSX Venture Exchange) acepta responsabilidad por la adecuación o precisión de este comunicado de prensa.

Información prospectiva

Este comunicado de prensa contiene “información o declaraciones prospectivas” en el sentido de la legislación aplicable en materia de valores, que pueden incluir, sin limitación, los planes potenciales para los proyectos de la empresa, el calendario previsto y la finalización de la perforación potencial en Jemi y la recepción de ensayos, los posibles resultados del programa de perforación, otras declaraciones relativas a las perspectivas técnicas, financieras y comerciales de la empresa, sus proyectos y otros asuntos. Todas las afirmaciones contenidas en el presente comunicado que no sean hechos históricos y que se refieran a acontecimientos o hechos que la empresa espera que se produzcan son estimaciones de futuro. Aunque la empresa considera que las expectativas expresadas en dichas declaraciones prospectivas se basan en supuestos razonables, tales declaraciones no son garantía de resultados futuros y los resultados reales pueden diferir materialmente de los de las declaraciones prospectivas. Dichas afirmaciones se basan en numerosas suposiciones relativas a las estrategias empresariales presentes y futuras y al entorno en el que la empresa operará en el futuro, incluido el precio de los metales, la capacidad de alcanzar sus objetivos, que las condiciones empresariales y económicas generales no cambiarán de forma sustancialmente adversa y que la financiación estará disponible siempre y cuando sea necesaria y en condiciones razonables. Dicha información prospectiva refleja las opiniones de la empresa con respecto a acontecimientos futuros y está sujeta a riesgos, incertidumbres y suposiciones, incluidos los riesgos e incertidumbres relacionados con la interpretación de los resultados de la exploración, los riesgos relacionados con la incertidumbre inherente a la exploración y las estimaciones de costes y la posibilidad de que se produzcan costes y gastos inesperados, así como aquellos otros riesgos presentados en el perfil de la empresa en SEDAR en www.sedarplus.ca. Aunque la dirección de la empresa considera razonables estas estimaciones e hipótesis, están sujetas a importantes incertidumbres y riesgos empresariales, económicos, competitivos y normativos. Los factores que podrían hacer que los resultados reales difirieran materialmente de los de las declaraciones prospectivas incluyen, pero no se limitan a, la disponibilidad continua de capital y financiación y las condiciones generales económicas, de mercado o empresariales, la imposibilidad de conseguir personal y equipos para los programas de trabajo, las condiciones meteorológicas y climáticas adversas, los riesgos relacionados con dificultades operativas imprevistas (incluida la imposibilidad de que los equipos o procesos funcionen de acuerdo con las especificaciones o expectativas, el aumento de los costes, la falta de disponibilidad de materiales y equipos, las medidas gubernamentales o los retrasos en la obtención de autorizaciones gubernamentales, los disturbios laborales u otras acciones de protesta, y los acontecimientos imprevistos relacionados con la salud, la seguridad y el medio ambiente), los riesgos relacionados con hipótesis geológicas inexactas, la falta de todos los permisos y autorizaciones gubernamentales necesarios, las aprobaciones y autorizaciones gubernamentales necesarias, la imposibilidad de obtener acuerdos o entendimientos de acceso a la superficie por parte de las comunidades locales, los propietarios de tierras o los grupos indígenas, la fluctuación de los tipos de cambio, el impacto del Covid-19 u otros virus y enfermedades en la capacidad de la empresa para operar, la incapacidad para predecir y contrarrestar los efectos del COVID-19 en el negocio de la empresa, incluidos, entre otros, los efectos del COVID-19 en el precio de las materias primas, las condiciones del mercado de capitales, la restricción de la mano de obra y de los viajes internacionales y de las cadenas de suministro, la disminución del precio de los elementos de tierras raras, litio, cesio y otros metales, la pérdida de empleados clave, consultores o directores, la imposibilidad de mantener la aceptación de la comunidad (incluidas las comunidades indígenas), el aumento de los costes, los litigios y el incumplimiento de las obligaciones contractuales de las contrapartes. La Empresa no se compromete a actualizar las declaraciones prospectivas ni la información prospectiva, salvo en la medida en que lo exija la ley.


MONUMENTAL MINERALS PROVIDES UPDATE ON DRILLING AT THE JEMI HEAVY RARE EARTH ELEMENT PROJECT, MEXICO

News Release – Vancouver, British Columbia – August 15, 2023: Monumental Minerals Corp. (“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) is pleased to provide an update on drilling at the Jemi rare earth element (REE) project (the “Project”) in Coahuila, Mexico, about 40 km south of the Texas, USA border.

One diamond drill rig from Globexplore Drilling SA commenced drilling on the Veladora North prospect area within Monumental’s claims starting in early July to test areas with high concentrations of REE-mineralized dykes and sills at the surface (see Company’s news release dated July 12, 2023). To date, 1800 meters (m) have been drilled, with borehole depths ranging from 50 to 321 m. Twelve holes have been completed, and drilling of a final 13th hole is currently underway, with a target depth of 50 to 75 m. The first batch of 188 samples has been sent to ALS Laboratories (Zacatecas, MX) and results are expected in approximately 3 weeks.

Dr. Jamil Sader, CEO and Director comments:

“Core samples at the Jemi REE project demonstrates that eudialyte minerals, which host most of the rare earths, extend into the subsurface peralkaline dyke and sills. It is encouraging to see that the intrusive bodies intersected during drilling are significantly larger than their surface expressions. We are keenly optimistic that laboratory assay results will further quantify visual assessments of rare earth mineralization in core samples.”

Numerous intrusive peralkaline dykes, sills, and veins, with identifiable eudialyte (Figure 1) were intersected in the completed holes. Eudialyte is the mineral that is most commonly associated with REEs at Jemi. These peralkaline dykes and sills tend to occur in structural zones that appear to be adjacent to larger bodies of syenitic intrusions and are associated with irregular skarn mineralization at the contacts with the host carbonate sedimentary rocks. These zones are as much as several tens of meters in width downhole. The syenite may be the feeders for the peralkaline features (parental rocks) and pegmatitic intrusive rocks. Light rare earth element (LREE) bearing minerals such as monazite and xenotime have also been identified by visual inspection.

The Jemi project is characterized by broad areas of peralkaline intrusion-related REE mineralized dykes and sills at the margins of the La Vasca igneous complex observed at that surface (see Company’s news release dated April 4, 2023). These intrusive bodies contain high grades of heavy rare earth elements (HREEs) dysprosium (Dy) and terbium (Tb), light rare earth elements (LREEs) neodymium (Nd) and Praseodymium (Pr), all critical to permanent magnets for EVs. Additionally, samples contain high concentrations of niobium (Nb) and tantalum (Ta).

Figure 1. Eudialyte in peralkaline intrusive rocks at a depth of 64 m below ground surface in drill hole JV-23-11.

Rare Earth Element Value and the Global Energy Transition

Because of their unusual physical and chemical properties, REEs have diverse energy, industrial, and military technology applications. It is projected that rare earth magnets will maintain dominant market share, powering EVs as well as other types of electric motors (e.g., wind turbines, water pumps) this decade, as there is minimal to no substitution risk. The strongest magnets are neodymium-iron-boron (NdFeB) and are used when space and weight restrictions are present. The addition of terbium and dysprosium to NdFeB magnets can double their optimal operating temperature from 80°C to 160°C. In addition, dysprosium with praseodymium increases a magnet’s coercivity (the resistance of a magnetic material to change in magnetisation).

The four key REEs (Nd, Pr, Dy, Tb) represent 94% of the REE market by value, all of which are enriched in surface samples collected at Jemi (see Company’s news release dated April 4, 2023). Concentrations of Nb and Ta are also enriched and could potentially be economically significant.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein. 

About Monumental Minerals Corp.

Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 75% interest and title to the Laguna cesium-lithium brine project located in Chile and a 50.01% interest in the Salar De Turi lithium project in Chile.

On behalf of the Board of Directors,

/s/ “Jamil Sader”

Jamil Sader, Chief Executive Officer and Director

Contact Information:

Email: [email protected]

Or

Max Sali, VP Corporate Development and Director

Email: [email protected]

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 news release.

Forward Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company’s projects, the expected timing and completion of potential drilling at Jemi and the receipt of assays, potential outcomes and results of the drill program, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.