Currie Rose Files Full Technical Report for the Updated Mineral Resource Estimate at Its North Queensland Vanadium Project

Toronto, Ontario – (Newsfile Corp. – December 16, 2022) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie Rose” or the “Company”) announces today that it has filed the technical report entitled “Technical Report and Maiden Mineral Resource Estimate, North Queensland Vanadium Project, Queensland, Australia” for the previously announced updated mineral resource estimate on SEDAR has its Cambridge Vanadium Deposit, which is part of the North Queensland Vanadium Project (“NQVP”) and is located within the “Vanadium Hub” approximately 450 km west of the Port of Townsville, Queensland, Australia.

Highlights:

Indicated Resource of 61.33 Mt @ 0.34% v₂O₅. The first 2018 MRE contained no Indicated Mineral Resources.
Inferred Resource increased by 61 Mt to 144.87 Mt at 0.33%V₂O₅_,This represents a 72% increase over the original 2018 resource.
The updated resource estimate was based on 65 drill holes using 30 drill holes not included in the original 2018 resource.
Estimated molybdenum (M_OO₃) quality of 239.7ppm, up 51.8ppm ~28% increase.

Mineral resource estimate for the NQVP at a 0.25% vanadium cut-off grade

Cut off v₂O₅ (%)	classification	Ore Tons (Mt)	v₂O₅	v₂O₅ (%)	Low₃	Low₃ (ppm)
0.25	displayed	61.33	210,300	0.34	14,600	234.6
0.25	concluded	144.87	483,400	0.33	35,500	241.9

Remarks:

Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Sufficient exploration has not been completed to define the Inferred Resources tabulated above as Indicated or Measured Mineral Resources, however it is reasonable to assume that with continued exploration the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. The mineral resource estimate may be significantly affected by environmental, permitting, legal, marketing or other relevant issues. The mineral resources have been classified in accordance with the Canadian Institute of Mining (CIM) Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and the CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (2019).
The mineral resource estimate is constrained in a LG pit optimization using V₂O₅ at $7.5/lb, mining at $2.86/tonne, processing and G&A at $7.86/tonne, pit slopes at 35^O.
There may be differences in the totals due to rounding.
Tonnage estimates are based on a bulk density of 1.8 g/cm³.
Mr. Mike Dufresne, P.Geol., P.Geo. and Mr. Steven Nicholls, M.AIG of APEX Geoscience Ltd. (“APEX”), who are qualified persons as defined by NI 43-101, are responsible for completing the updated mineral resource estimate.

Qualified Persons and 43-101 Disclosures

The updated Cambridge MRE has been reviewed and approved for release by Michael Dufresne, M.Sc., P.Geol., P.Geo., President and Principal of APEX, in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

In 2022, APEX was engaged by Currie Rose to complete an updated NI 43-101 report and update the mineral resource estimate for the Cambridge deposit. The report’s authors, Mr. Michael Dufresne and Mr. Steven Nicholls of APEX, are both independent qualified persons as defined by the Canadian Securities Administration’s (CSA) National Instrument 43-101. Mr. Nicholls completed the most recent property visit in November 2021 and compiled the mineralized domains for the Cambridge Deposit Mineral Resource Estimate.

Above Currie Rose Resources Inc.

Currie Rose is a public battery metals explorer and developer focused on identifying high quality assets in mining-friendly jurisdictions. The Company’s immediate focus is on the advanced stage North Queensland Vanadium Project in Queensland, Australia. Please visit our website at www.currierose.com.

For more information please contact:

Mike Griffiths, CEO
Office: 905-688-9115 ext. 104
E-mail: [email protected]

Iryna Zheliasko, Investor Relations
Office: 905-688-9115 ext. 322
E-mail: [email protected]

Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Service Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release may contain forward-looking statements based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements regarding the completion of the transaction, the expected terms of the transaction, the number of Currie Rose securities that may be issued in connection with the transaction and the parties’ ability to satisfy the closing conditions and obtain necessary approvals are all statements forward-looking information. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. As a result, actual consequences and results could differ materially from those projected in these forward-looking statements, and readers should not place undue reliance on such statements. Statements speak only as of the date they are made and the Company undertakes no obligation to publicly update them to reflect new information or the occurrence of future events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148417

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Currie Rose Resources Inc
Currie Rose Resources Inc
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