VANCOUVER, BC / ACCESS Newswire / April 4, 2025 / Capacitor Metals Corp. (the "Company" or "Capacitor") is pleased to announce receipt of the first tranche of grant funding from Horizon Europe, the European Union's €95.5 billion programme for research and innovation, the largest such program in the world. Capacitor Metals has received this grant funding for the delivery of sample material from the Upper Fir Tantalum & Niobium Deposit in British Columbia for the BLOOM Critical Materials Program. In total, Capacitor Metals will receive €178,000 Euros for the delivery of ~1 metric tonne of mixed materials.
Led by Dr. Josep Oliva at the Universitat Politècnica de Catalunya-Barcelona Tech in Barcelona (UPC), the BLOOM project is a Critical Raw Materials focused project funded by Horizon Europe and is integrated by a multidisciplinary group of 14 partners from 6 different countries.
The BLOOM project's goal is to develop new MLA-online sensor (mineral liberation analysis) technologies to improve how critical raw materials (CRMs) like tantalum and niobium are extracted and processed, thereby strengthening EU supply chains and reducing EU dependency on critical minerals imports from unreliable regions. Capacitor Metals' advanced Upper Fir Tantalum and Niobium Deposit is a key contributor to the EU BLOOM project.
Capacitor Metals President Chris Grove states, "It is our pleasure to be providing source material for this important work program led by the UPC on improved sensing and processing of tantalum focused ore bodies. Our positive economics for the Upper Fir Deposit (2011, Amec, Updated 2015, Amec, Foster, Wheeler) were based upon standard processing and we look forward to incorporating any optimizations realized by the BLOOM project in our next economic report."
The grant funding that Capacitor Metals has received from Horizon Europe is to provide the essential mineralized tantalum-bearing material which the BLOOM Consortium team will be using in the development of their advanced critical minerals extraction technology. Capacitor Metals has delivered ~20 kilograms of drill core, ~220 kilograms of pulverized material, and ~820 kilograms of crushed rock all from the Upper Fir Deposit in British Columbia, to UPC in Barcelona, Spain.
As an additional aspect of the BLOOM project, there is an interest expressed to locate and finance the construction of a pilot plant utilizing the techniques under investigation by the BLOOM Consortium.
Dr. Josep Oliva leads the research group at the Mineral Processing and Residues Recycling Laboratory (ProMineral Lab) of the Universitat Politècnica de Catalunya, where he focuses on the development and implementation of advanced processes for the characterization, separation, and recovery of critical and strategic raw materials. His research is aimed at improving the technical and environmental performance of mineral processing through the integration of mineralogical analysis, process optimization, and innovative separation techniques. He has actively contributed to numerous European research and innovation initiatives, collaborating with industrial and academic partners to deliver scalable and efficient solutions for the beneficiation of complex and low-grade ores. Under his leadership, the ProMineral Lab has established itself as a reference center in applied research, particularly in projects that support the EU's strategic priorities on raw material security, sustainable resource use, and industrial resilience.
The Company notes that the BLOOM (GA 101177962) project is funded by the European Union, and, except as otherwise noted, statements expressed in this news release are those of the Company and do not necessarily reflect the views and opinions of the European Union or the European Health and Digital Executive Agency (HADEA). Neither the European Union nor the granting authority can be held responsible for them.
About Capacitor Metals Corp.
Capacitor Metals Corp. is focused on the development of the Upper Fir Tantalum & Niobium Deposit on the company's Blue River Tantalum-Niobium project located in British Columbia, Canada. The Company is positioning itself to be one of the lowest-cost, ethically sourced tantalum-niobium producers globally.
The Blue River Property is a fully serviced site in mining-friendly British Columbia, Canada with excellent infrastructure close at hand, including rail, paved road, water, and power adjacent to project site. The Blue River Property contains three known deposits of tantalum and niobium and an additional 20+ known exploration targets.
The Upper Fir deposit has a significant historical indicated resource of 9.6M kg contained tantalum and 77.8M kg contained niobium plus an historical inferred resource of 1.0M kg contained tantalum and 9.6M kg contained niobium. The Deposit is advanced with $34M CAD of work completed, including 271 drill holes totaling over 59,000 meters drilled, an historical Preliminary Economic Assessment ("PEA") released, community consultations, and preliminary metallurgical and environmental work.
For more information, please visit the corporate website at www.capacitormetals.com or email jschroenn@capacitormetals.com.
On Behalf of the Board of Directors
Capacitor Metals Corp.
Chris Grove
President and CEO
Tel: 604.484.2700
Email: cgrove@capacitormetals.com
Web: www.capacitormetals.com
Forward Looking Statements
This news release contains forward-looking statements, which includes any information about activities, events or developments that the Company believes, expects or anticipates will or may occur in the future. Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding future events. Forward looking statements in this news release include that the Company is specifically focused on the development of its Blue River tantalum and niobium deposit in British Columbia; statements regarding the anticipated receipt of the balance of grant funds from Horizon Europe; statements regarding the BLOOM project's goals; statements regarding an interest in locating and financing the construction of a pilot project; and statements that the Company is positioning to be one of the lowest cost, ethically sourced tantalum-niobium producers globally.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental, and technological factors that may affect the Company's operations, markets, products, and prices. Factors that could cause actual results to differ materially may include misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices for tantalum & niobium may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
SOURCE: Capacitor Metals Corp.
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