SRHI Inc. Announces 2021 Operating and Capital Guidance for the Minera Tres Valles Copper Project

(all amounts expressed in US dollars)

TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- (TSX: SRHI) - SRHI Inc. ("SRHI" or the "Company" - formerly Sprott Resource Holdings Inc.) is pleased to provide operational and capital guidance for the 2021 calendar year for its 70% owned Minera Tres Valles Copper Project (“MTV” or the “Project”) located in Salamanca, Chile.

“In 2020, the world experienced the arrival of COVID-19 with the pandemic affecting each of us. It continues, but there is hope with several vaccines being distributed worldwide,” said Terry Lyons, Interim CEO of SRHI. “Our business was impacted in several ways as we reacted to the changing environment ultimately resulting in the successful restructuring of MTV in late 2020. With this restructuring complete, we have moved forward with several initiatives, the most prominent one being the construction and development of our underground mine, Papomono.”

“Our view on copper is increasingly positive,” stated Michael Staresinic, President of SRHI. “We see three pillars of demand driving prices higher as supply will struggle to keep up with this demand – China’s ongoing growth, worldwide stimulus spending on infrastructure and construction, and the proliferation of electric vehicles. The latter has exponential potential and copper is at the heart of this revolution. Electric cars use between three and four times the amount of copper than conventional cars and electric buses require anywhere between eleven and sixteen times the amount of copper. This, coupled with the necessity for more and more electric “gas” stations to alleviate consumer range anxiety, will only solidify copper’s importance in the years to come. The shift is already happening with President Biden vowing to electrify the US federal fleet and General Motors announcing it will be aggressively shifting to electric vehicles, producing 30 new electric models within 4 years, and producing only electric vehicles by 2035.”

“We believe that Chile, in terms of prospectivity and business climate, is the best jurisdiction in the world to build a copper business,” added Mr. Staresinic. “As we look to expand operations upon the completion of Papomono’s construction in early 2022, our focus for production this year will come from our recently restarted operations at our Don Gabriel open pit, together with ore expected from third-party miners as well as from ENAMI, Chile’s National Mining Enterprise.”