Boron One Holdings Inc. Issues Piskanja Project Licensing Update

VICTORIA, BC / ACCESSWIRE / April 30, 2024 / Boron One Holdings Inc. ("Boron One" or the "Company") (TSXV:BONE), a company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets, announced the following update regarding the next step in the mineral exploitation licensing process for its wholly owned Piskanja Boron Project:

As reported by the Company in a Press Release dated January 15, 2024, Boron One has been granted a Certificate of Reserves ("CoR") for its Piskanja Boron Project, by the Serbian Mining Ministry. The CoR is a requisite step in the mineral exploitation licensing process, and permits the Company to proceed to the next step in the approval process, which is the "Approval for the Exploitation Field".

The documentation and permits which the Company is obligated to submit to the Mining Ministry in order to receive an "Approval for the Exploitation Field" include the CoR, a Serbian-compliant Feasibility Study, a synopsis of an Environmental Impact Assessment ("EIA") which details the scope and proposed content of the EIA, along with various permits that are granted by a number of government ministries, other than the Mining Ministry.

All the noted documentation has been completed and is ready for submission, and all ministerial permits have been granted, apart from the permit to be issued by the Environment Ministry. Boron One anticipated that this final permit would take the longest to receive, as there are several steps in this process, including the drafting of the EIA synopsis which itself required some 60 days to complete by an independent environmental consulting group. The process with the Environment Ministry is now nearing its completion, and Boron One anticipates it will receive this last requisite permit shortly.

Boron One is prepared to submit for "Approval for the Exploitation Field" immediately upon receipt of the permit from the Environment Ministry.

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About the Piskanja Boron Project

Piskanja is Boron One Holdings Inc.'s wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes (averaging 35.59% B2O3), an Indicated Mineral Resource of 5.48 million tonnes (averaging 34.05% B2O3), and an Inferred Mineral Resource of 284.7 thousand tonnes (averaging 39.59% B2O3), calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (CIM Standards), as disclosed in the Company's report titled, "Technical Report and Preliminary Economic Assessment For The Piskanja Borate Project, Serbia, June 24, 2022". The responsible person for the PEA and the Mineral Resource Estimate contained within, is Prof. Miodrag Banješević PhD. P.Geo, EurGeol, a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Standards), and independent of Boron One Holdings Inc.