Management Appointments for Sheep Creek Rare Earth Project Joint Venture
Vancouver, December 8, 2022 - US Critical Metals Corp. (TSXV: USCM) (OTCQB: USCMF) (FSE: 0IU0) ("USCM") and US Critical Materials Corp. ("Materials Corp.") (collectively, the "Partners") are pleased to report that Mr. James Hedrick has been appointed as President and Mr. Peter Mejstrick as Head of Exploration of US Rare Elements Corp. ("USRE"), the entity formed as a joint venture between the Partners. Mr. Hedrick was formerly the rare earths commodity specialist for the United States Geological Survey ("USGS") and brings a wealth of knowledge and contacts relating to all elements of the rare earth supply chain within the United States (the "US"). Mr. Mejstrick is a geologist with significant field and operating experience in the state of Montana, where he resides. These appointments provide both the technical and theoretical experience essential to advance the Sheep Creek Rare Earth Project in Montana ("Sheep Creek").
In addition to these appointments to USRE, Mr. Hedrick will support USCM in an advisory capacity to further inform interested parties about the merits of Sheep Creek and rare earth elements.
Professional Backgrounds
Mr. James Hedrick is currently President of Materials Corp. and was formerly the rare earths commodity specialist at the USGS in Reston, Virginia and a government employee in related fields for 32 years. He is an expert on a variety of rare earths, minerals, and metals, including scandium, yttrium, zirconium, hafnium, thorium, and the mica group minerals. He has published over 300 articles and professional papers on mineral commodities, including over 100 publications at the USGS. He continues to write articles for the minerals industry and has chaired various sessions on rare earths and strategic and critical minerals in both the US and Europe. Mr. Hedrick is a graduate of James Madison University with B.S. degrees in Geology and General Science, and did graduate study at North Carolina State University.
Mr. Peter Mejstrick is Chief Geologist of Materials Corp. and has more than 35 years of experience in rare earths, precious and base metal exploration. He has accomplished field and project management skills and a strong technical background. He previously worked for major US mining companies (such as Echo Bay Mining and Yamana Gold, among others), focusing on evaluation, acquisition and exploration of properties in the western US. He received his B.A. degree from Bowdoin College, a M.S. in Geology from the University of Montana, and attended University of British Columbia for post-graduate studies.
Management Commentary
Mr. James Hedrick, newly appointed President of US Rare Elements Corp., comments: "I am truly pleased to be appointed as President of the joint venture between the Partners. Over my career, I have had the opportunity to review the vast majority, if not all, of the rare earth projects within the US. Due to the elements present, high grades, potential for tonnage, and low thorium levels, I firmly believe that Sheep Creek has the potential to unlock a district scale rare earths opportunity in the state of Montana and, ultimately, be a significant contributor to address the security of supply issues within the US."
Mr. Darren Collins, Chief Executive Officer and Director of USCM, comments: "These appointments are excellent validation of the potential at Sheep Creek. Jim and Peter provide us with the expertise and resources necessary to have a significant impact in our pursuit of addressing the current lack of supply issues within the US. I look forward to working with both Jim and Peter to advance the project and, alongside them, engaging various parties interested in learning more about rare earth in the US and our project in the state of Montana."
Project Overview
Sheep Creek is located in Ravalli County, southwest Montana. Sheep Creek spans 223 lode claims representing approximately 4,500 acres of total land package. The claims are on multiple-use ground administered by the US Forest Service. Exploration activities performed by US Critical Materials Corp. and conducted in late 2021 have identified more than 50 carbonatite dikes in the Sheep Creek exploration area. The carbonatites are up to three meters wide and can be followed for more than 300 meters along strike. Important ore minerals identified include ancylite, allanite, low-thorium monazite, and columbite. The dikes are valuable for their contained light rare earth elements and other strategic metals. Historical grab and rock chip sampling of carbonatites indicate the potential for high-grade mineralization with up to 18.0% total rare earth elements, including 2.4% (23,810ppm) combined neodymium and praseodymium, plus credits in niobium and other strategic metals.
About US Critical Metals Corp.
USCM is focused on mining projects that will further secure the US supply of critical metals and rare earth elements, which are essential to fueling the new age economy. Pursuant to option agreements with private Canadian and American companies, USCM's assets consist of three agreements, each providing USCM with the right to acquire interests in four discovery focused projects in the US. These projects include the Clayton Ridge Lithium Project located in Nevada, the Haynes Cobalt Project located in Idaho, the Sheep Creek Rare Earth Project located in Montana, and the Lemhi Pass Rare Earth Project located in Idaho. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the US. USCM intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of US interests.
About US Critical Materials Corp.
US Critical Materials Corp. is a private rare earths exploration and development company with holdings in Montana and Idaho. Future development of the Properties includes additional exploration, geologic mapping, sampling and analysis, and drilling with the objective of completing a future resource and reserve estimation. The deposits in Sheep Creek are unique due to low levels of thorium, as discussed above, which potentially allows mining with minimal damage to the environment. U.S. Critical Materials goal is to develop its properties with strategic partners who have the capital and expertise to explore, mine and extract the critical minerals. US Critical Materials Corp. is based in Salt Lake City, Utah.
For further information please contact:
Darren Collins
Chief Executive Officer and Director
US Critical Metals Corp.
Telephone: 1-786 633-1756
www.uscmcorp.com
Rachel Winn
Operations Director
US Critical Materials Corp.
Telephone: 1-801 322 3401
www.uscriticalmaterials.com
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Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward looking information contained in this press release may include, without limitation, exploration plans and expected exploration results at the Project, results of operations, and the expected financial performance of the Company.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR website at www.sedar.com.
The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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