MOU Signed On Cobalt Properties With Far East Asian Battery Group

TORONTO - Idaho Champion Gold Mines Canada Inc.has signed a non-binding MOU with a Battery Group based in Far East Asia to advance the four Cobalt projects located in the heart of the Idaho Cobalt Belt.

The MOU is the first step in the evaluation and execution of a definitive agreement and is part of Idaho Champion's recently announced internal strategic review.

Jonathan Buick, CEO, said, "We are pleased to have efficiently found a non-dilutive alternative for Idaho Champion and its shareholders to add value to what was originally considered a non-core asset. With cobalt trading at a three-year high, the United States government including cobalt on its critical minerals list, and Jervois Mining commencing cobalt production on their ICO project, there is a considerable renewed interest in Idaho as a mineral exploration region. Battery Co. is keen to work with groups that have cobalt assets in ethical and politically stable jurisdictions, beyond existing larger alternatives. We will work diligently towards a definitive agreement, so we can begin the geologic discovery."

As per the MOU, Idaho Champion and Battery Co. have agreed to work in good faith to execute a definitive agreement within nine months of the signing of the MOU. The MOU is considered to be non-exclusive, non-binding, and remains subject to negotiation.