Approval For Full Construction Of Idaho Cobalt Operations

AUSTRALIA - Jervois Mining Limited reported that its Board has approved final construction of Jervois’ Idaho Cobalt Operations (ICO) in the United States.  ICO is situated approximately 40km west of the town of Salmon in east central part of the state of Idaho.  

The properties upon which the mine and mill are situated in the U.S. National Forest lands managed by United States Forest Service (the “USFS”).  Jervois controls 100 percent of the unpatented mining claims over this land, consisting of 313 unpatented lode mining claims.   All activities at ICO adhere to the USFS and Environmental Protection Agency requirements.  The site is environmentally permitted with an approved Plan of Operations.

Final construction of ICO will include developing an underground mine over a period of 10 months starting in September 2021, which is scheduled to deliver first ore to an operational mill in July 2022. Development of the mine is being executed by Small Mine Development (SMD).  SMD also participated in the mine design and costing for the updated BFS. ICO will comprise a 1,200 short tons of ore per day (“stpd”) mill and concentrator to produce separated cobalt and copper concentrates.  Gold mineralization in the mine reserve at ICO will largely report to the cobalt concentrate and will be recovered at São Miguel Paulista (“SMP”) refinery in Brazil, subject to Jervois completing its SMP acquisition and successfully restarting the refinery in stages during 2022 and 2023 .  Copper concentrates will be sold into North American markets.  Tailings will either be placed back underground or filtered and safely placed in a dry stack waste storage facility. Jervois has developed detailed plans to operate ICO in an environmentally responsible manner.  Demonstration by Jervois of its ability to construct and operate safely for the environment.