OCTOBER 30, 2018
Melbourne — DeepGreen Metals Inc. (“DeepGreen”, “DGM” or the “Company”), a leader in the deep-sea polymetallic nodule exploration and development industry, will be presenting its recent resource estimate and research update to the International Mining and Resources Conference in Melbourne, Australia’s largest mining exhibition.
DeepGreen’s CEO, Gerard Barron, will expand on the Company’s ongoing exploration and development programs and advances to bring to market polymetallic nodules, a metal-rich resource that sits atop the deep-ocean’s abyssal plane, four kilometers below the ocean’s surface.
“We believe this represents an amazing resource for the world, which will bring to market significant quantities of cobalt and nickel, as well as copper and manganese,” said Barron. “These are the metals we need to supply the rising EV industry, renewable energy battery systems and other technologies for future generations.”
On September 24, 2018, DeepGreen, along with its wholly owned subsidiary Nauru Ocean Resources Inc. (“NORI”) announced a combined seafloor inferred resource estimate of 909 million tonnes (wet) of polymetallic nodules grading 1.3% Nickel, 29.2% Manganese, 1.1 % Copper and 0.2% Cobalt with a mean nodule abundance of 13 kg/m2 based on a nodule abundance cut-off of 4 kg/m2 at NORI’s project in the Clarion-Clipperton Zone of the Eastern Pacific Ocean. The Company’s recent NI-43-101 Technical Report for the NORI Clarion – Clipperton Zone Project, Pacific Ocean, dated effective May 1, 2018 is available on the Company’s website and at www.sedar.com.
DeepGreen is working in partnership with Maersk Supply Services, which has committed one Anchor Handler Tug Supply Vessel and one Subsea Support Vessel for a total of five offshore campaigns during the period 2018 through 2020. The Company’s recent offshore campaign was completed in July 2018 and conducted detailed bathymetric and photographic surveys supported by an autonomous underwater vehicle and also retrieved more than 500 kilograms of polymetallic nodules, which are now being assayed. Once the assaying is complete the data will be incorporated into an updated NI-43-101 compliant resource estimate.
“We are advancing as quickly as possible to a prefeasibility study, to ensure we can responsibly bring this supply of metals for our future to market,” said Barron. “Our goal is to carry out our operations with minimal impact and maximum respect for the ocean, and ensure the world has access to the metals essential to meet rising demand and building a sustainable economy that benefits everyone.”
DeepGreen’s method of bringing deep-ocean metals to market will also avoid many of the challenges of traditional mining. Bringing polymetallic nodules to the surface will not involve deforestation, the use of explosives or drilling, the displacement of communities or the use of child labor.
“We believe DeepGreen’s clean metals for our future will appeal to manufacturers and consumers who are conscious about how their products are made,” said Barron. “They will be metals that are produced with minimum impact on the environment and maximum benefit in our quest for a sustainable planet.”
To schedule an interview with DeepGreen’s CEO and other members of its executive team, or for further information, please contact:
DeepGreen is a Canadian company offering a new and disruptive approach to supplying the world with metals needed for economic growth and clean technologies. With its patented processing technology, DeepGreen is on track to become a leading producer of base and strategic metals obtained from vast high-grade seafloor polymetallic nodule deposits containing nickel, manganese, copper and cobalt.
About Nauru Ocean Resources Inc. (NORI):
NORI, a Nauruan company sponsored by the Republic of Nauru, is engaged in the exploration and sustainable development of seafloor mineral resources. In 2011, NORI became the first company to obtain a license from the United Nations’ International Seabed Authority to explore for minerals in the international seabed area. It will not operate near shallow coral reefs, volcanic ocean vents nor require digging, drilling or use of explosives.
About the International Seabed Authority (ISA):
The ISA is an autonomous international organization established under the 1982 United Nations Convention on the Law of the Sea and the 1994 Agreement relating to the Implementation of Part XI of the United Nations Convention on the Law of the Sea (“UNCLOS”). The Authority is the organization through which States Parties to the Convention shall, in accordance with the regime for the seabed and ocean floor and subsoil thereof beyond the limits of national jurisdiction (the “Area”) established in Part XI and the Agreement, organize and control activities in the Area, particularly with a view to administering the resources of the Area.
About Maersk Supply Service:
Maersk Supply Service provides marine services and integrated solutions to the energy sector worldwide. Maersk Supply Service is the market leader in deep-water services such as anchor handling in ultra-deep water, mooring installations, rig moves and transport of equipment to drilling rigs and production units.
Maersk Supply Service employs an international staff of around 1100 offshore and 200 onshore people. Headquartered in Lyngby, Denmark, Maersk Supply Service is represented globally with offices in Aberdeen, Houston, St. John’s, Rio de Janeiro, Accra, Lagos, Luanda, Singapore and Perth.
Maersk Supply Service is a part of the stand-alone Energy division of A.P. Møller – Mærsk A/S. A.P. Møller – Maersk A/S employs roughly 88,000 employees across operations in 130 countries.
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities regulations in Canada (collectively, “forward-looking information“). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, DGM does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to a mineral resource estimate for the NORI project.
The forward-looking information contained in this news release is based on certain assumptions that DGM believes are reasonable, including the key assumptions and parameters on which the mineral resource estimate is based as set out in the Technical Report. However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of DGM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risk that mineral resources are not as estimated, unexpected variations in mineral resources, grade or recovery rates and the risks and uncertainties set out in the Technical Report. Although DGM has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.