Crown Mining Advances U.S.-Based Copper Project amid Biden's Executive Order on Critical Minerals Supply Chain
Toronto, March 1, 2021 - Crown Mining Corp. (TSXV: CWM)( FSE: C73) ("Crown" or the "Company") would like to report that on February 24th, U.S. President Joe Biden signed an executive order aimed at creating more resilient and secure supply chains for critical and essential goods. The order launches a comprehensive review of U.S. supply chains and directs federal departments and agencies to identify ways to secure U.S. supply chains against a wide range of risks and vulnerabilities.
"This is about making sure the United States can meet every challenge we face in this new era - pandemics, but also in defense, cybersecurity, climate change, and so much more," President Biden said. "And the best way to do that is by protecting and sharpening America's competitive edge by investing here at home."
The order directs an immediate 100-day review across federal agencies to address vulnerabilities in the supply chains of four key products, which includes critical minerals and large capacity batteries for use in electric vehicles.
Crown is developing the Moonlight-Superior Project, a historically operated copper mine in California, located approximately 125 miles from Tesla's Gigafactory outside Reno, Nevada. President Biden's executive order highlights the important role that the Company can play in ensuring the United States has a secure supply of one of the key metals to achieve its transition to a low carbon economy. Copper is a critical material for everything from renewable power generation to electric vehicles. As such, it will be vital that the U.S. has a strong and viable domestic source of copper supply.
Crown is focused on advancing its Moonlight-Superior Project towards the production stage. The Company hopes to support the United States' shift to a green future by providing copper to the myriad of industries involved in the green energy transition.
CEO Steve Dunn commented, "The entire Crown team is working hard to prepare for this year's drilling program as we advance the project back into production. We are excited about the opportunity to be an integral supplier of copper metal to the U.S. domestic market."
About Crown Mining Corp.
Crown controls approximately 13 square miles of patented and unpatented federal mining claims in the Lights Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits - Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915 to 1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.
The Moonlight Deposit was discovered and drilled by Placer-Amex during the 1960s. Details of the resources on Crown's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 on both the company's website at www.crownminingcorp.com or on www.sedar.com under the Crown Mining Corp. profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corp. (416) 361-2827 or email info@crownminingcorp.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75777