Hinksland License
The new license consists of five blocks and is located about 240 km from the hamlet of Ittoqqortoormiit and 200 km from the Nerlerit airstrip. Ittoqqortoormiit, a coastal community with a helipad, has a population of approximately 300 people. The license covers a mix of Mesoproterozoic metasediments and the Archean Rae Craton, extending from the western coast to BRW’s Uummannaq project.
The Rae Craton in east Greenland has been altered by the Caledonian orogeny, which stretches southeast to Ireland's Leinster lithium sector, southwest to the Killick lithium deposit in Newfoundland, and to the Carolinas' lithium region in the United States.
The license is located 110 km from the Malmberg molybdenum project, which is transitioning from development to mining and is in the process of obtaining an exploitation license.
The new license area contains over 50 mapped and interpreted pegmatite outcrops, including nine with strike lengths ranging from 500 to nearly 10,000 meters, covering a total area of approximately 17,800 hectares. It also includes key geologic features for BRW, such as 2-mica granite and ultramafic rocks. License applications have been submitted and are pending final government approval.
BRW plans to visit the new territory in 2025 and thanks Xploration Services Greenland A/S for their assistance with license applications and logistics for the upcoming season.
Clarification Regarding December 2024 Private Placement
A discrepancy was found in the Corporation's December 20, 2024 news release regarding the private placement that closed on the same date. According to the announcement, finders received $170,872.79 for the Private Placement.
The correct amount should have been $169,262.79. Additionally, insiders subscribed for 1,977,000 shares in the Private Placement (or 3,539,501 shares when counting shares purchased by an insider as a final purchaser of charity flow-through shares), instead of the previously stated 2,887,501 shares.