Radisson Announces Memorandum of Understanding with IAMGOLD on Milling Assessment for O’Brien Gold Project

ROUYN-NORANDA, Quebec, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Radisson Mining Resources Inc. (TSX-V: RDS, OTCQB: RMRDF) (“Radisson” or the “Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with IAMGOLD Corporation (“IAMGOLD”) to assess the design criteria for processing mined material from Radisson’s O’Brien Gold Project (“O’Brien” or the “Project”) at the nearby Doyon gold mill, part of IAMGOLD’s Doyon-Westwood mine complex. The Doyon mill is located 21 kilometres west of O’Brien within Quebec’s Abitibi region and directly accessible along Trans-Canada Highway 117.

If off-site processing at Doyon is deemed viable by both parties, Radisson intends to complete a Preliminary Economic Assessment (“PEA”) for O’Brien, which will further consider mine design, mining methodology, mining rate and gold production profile, facilities requirements, development schedule and overall Project economics.

Matt Manson, President & CEO commented: “Hub-and-spoke mining and milling arrangements have long been a feature of gold mining in the Abitibi. Today we are announcing the first step in assessing the viability of such an arrangement for the O’Brien Gold Project. The MOU with IAMGOLD will facilitate the technical work required to assess the compatibility of O’Brien’s gold ore with the Doyon mill. Doyon is directly accessible to O’Brien via a short haul on paved highway, and a future O’Brien mine with offsite processing and tailings disposal would be a potentially low-cost, low-impact and highly profitable mining operation. The MOU with IAMGOLD contains no commercial terms regarding how ore supply from O’Brien to Doyon would be arranged; however, further discussions between the two parties, and a companion O’Brien PEA, are contemplated upon the successful completion of this preliminary technical work.”

Terms of the MOU
The MOU facilitates the exchange of technical data between Radisson and IAMGOLD Corporation (collectively the “Parties”) regarding metallurgy, flow-sheet configuration, potential mill modifications, and future processing and tailings disposal capacity. Each Party will be responsible for its own costs associated with the work. To conduct the assessment, Radisson has retained Ausenco Engineering Canada ULC and a program of metallurgical work has already commenced at the Lakefield, Ontario facilities of SGS Canada Inc. The MOU is non-binding and non-exclusive and contains no specific terms around potential commercial arrangements between the Parties. There is no certainty that any arrangement between the Parties will result from their dealings pursuant to the MOU.