McDonald’s announces agreement with Environmental Tailings Corporation to recover and restore historic tailings.Canadian Business Journal

TORONTO, November 15, 2022 (GLOBE NEWSWIRE) — McDonald Mines Exploration Limited (TSX-V: BMK, OTC: MCDMF) (“McDonald Mine”) or “Company”) is pleased to announce that we have entered into a binding sales contract. (“agreement”) With Environmental Tailings Corporation (“etc”)is a private Ontario company established for the purpose of reclaiming tailings from mine sites. MacDonald Mines transferred his 63.9 hectares of leased area to his ETC (“lease”)covering the historic Scadding Tailings (“Tailing”).

Contract Highlights:

• MacDonald Mines transferred the lease containing the tailings to ETC for $1.00, but the minerals and mining rights in the lease remain unhindered.
• ETC will bear all costs associated with the treatment and restoration of tailings as stipulated in the closure plan.
• ETC has awarded MacDonald Mines a 4% net smelter profit from the sale of metals extracted from the tailings.
• ETC will resell the lease to McDonald Mines for $1.00 once the tailing has been processed and the site has been restored according to the closure plan.
• ETC bore all Macdonald Mines costs associated with the preparation of this Agreement.

Greg Romain, President and CEO of MacDonald Mines, said: Tailing recovery by NSR. ” added Roman. “This transaction will help us preserve cash while ensuring we continue to focus our efforts on researching our 100% owned SPJ project. It confirms our commitment to clean up the system.”

historic scading tailing

Historic Scadding Tailings was part of the Scadding lease acquired by MacDonald Mines on April 30, 2019. Milling of the site took place between 1987 and 1990 and a total of 140,000 tons were processed at a grade of 7.22 g/t (National Instrument 43-101 SPJ Project Technical Report, 18 October 2019).

The 63.9 ha lease transfer represents less than 0.5% of the SPJ project’s land package.

About Macdonald Mines Exploration Limited
MacDonald Mines is a 100% owned 19,720 ha (197 km²) SPJ Project, 20 km southeast of the prolific Sudbury Mine Camp in northern Ontario. The company’s focus is on high-grade gold surrounding past-produced scading gold mines and large-scale gold, including large gold and polymetallic structures that may surround Alwyn, Glade, MacLeod and Norstar. Identify what you theorize to be the system. The company also focuses on major critical metal systems surrounding Candore and Jerome within the SPJ project to supply the renewable energy transition, specifically nickel, copper and PGE. Demand and need for critical metals is at an all-time high and McDonald Mines believes the SPJ property area could be part of the solution.

qualified person
The Chief Geologist of Jean-François Montreuil, P.Geo., MacDonald Mines is a qualified person as defined by National Instrument 43-101. Mineral Project Disclosure Standardswas responsible for the preparation, supervision and approval of the scientific and technical content of this news release.

Forward-Looking Statements
This news release may contain certain “forward-looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and our actual results, performance, or achievements against any future results, performance, performance, or other factors that could cause results to differ materially. statement. Forward-looking statements speak only as of the date of this news release and, except as required by applicable securities laws, the Company may not make any forward-looking statements, whether as a result of new information or otherwise. We disclaim any intention or obligation to update any forward-looking statements. future event, outcome, or otherwise.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS (AS THAT TERM IS DEFINED IN THE TSX VENTURE EXCHANGE POLICIES) ARE RESPONSIBLE FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.

For more information on McDonald’s Mines, please visit: www.macdonaldmines.com

For more information, please contact:

Greg Roman, President and CEO
Phone: +1 (416) 364-7024
Email: [email protected]

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