Battery Mineral Resources Corp. Provides Corporate Updates

Rhea-AI Summary

Battery Mineral Resources Corp. (OTCQB: BTRMF) provided significant corporate updates across its three key business segments. The company reported that its 2024 annual filings and Q1 2025 filings are expected to be completed around July 3rd, 2025, with a current cease trade order to be lifted shortly thereafter.

In its copper operations, BMR shipped 7,533 dry metric tonnes (DMT) of copper concentrates from January to June 24th, 2025, averaging 22.6% copper content, equivalent to 3.75 million pounds of contained copper. The company aims to increase production to 2,500-2,700 DMT of copper concentrates monthly by end-2025.

The company's subsidiary, ESI Energy Services ("Ozzies"), reported strong performance with C$16.8 million in revenues for 2024, achieving a 35% EBITDA margin. ESI expects revenues to reach C$20 million in 2025 with similar margins, projecting 10-15% annual revenue growth in coming years through expansion into renewable energy markets.

[ "Copper concentrate production reached 7,533 DMT with 22.6% copper content in H1 2025", "Mining operations achieved peak daily ore extraction rates of 2,000+ tonnes in June 2025", "ESI Energy Services achieved 35% EBITDA margin in 2024 with C$16.8M revenue", "ESI projects revenue growth to C$20M in 2025 with sustained 10-15% annual growth", "Company benefits from favorable copper market conditions with lower treatment and refining charges", "Operating two mines (Cinabrio and San Andres) with two additional mines planned for operation" ]

Positive

• None.

Negative

• Delayed 2024 annual filings and Q1 2025 filings requiring cease trade order
• Additional analyses required for accounting of certain financing and tax adjustments
• Need for review and streamlining of financial-reporting systems and processes

Status of 2024 Filings and Quarterly Filings
Copper Concentrate Production and Outlook
ESI Energy Services Performance and Outlook

Vancouver, British Columbia--(Newsfile Corp. - June 30, 2025) - Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to share several important updates with its shareholders.

Laz Nikeas, CEO of BMR, shared the following update on the company's operations and financial filings:

"The Company's 2024 annual filings and Q1 2025 filings, although delayed, are expected to be completed imminently. We appreciate our shareholders' patience during this process.

We are pleased to share an update on our growing copper production at the Punitaqui Project in Chile, as well as an update on the strong performance of ESI Energy Services Inc. ("ESI"), our wholly owned provider of specialized equipment to the energy industry.

BMR is a unique platform amongst the numerous exploration and development companies on the TSXV. We own three key assets: a mid-sized producing copper mining complex and concentrate facility in Punitaqui, Chile; a rapidly growing cash flowing energy services business based in Phoenix, Arizona; and a large exploration land package of mineral claims in North America. Our primary focus over the past few years has been to define and grow resources in our Chilean copper project and to restart operations, both which were successfully accomplished in 2024. Our current focus is to maximize the throughput of ore through our concentrate facility to generate cash flows. We currently have two mines operating, Cinabrio and San Andres, and we are targeting to be operating an additional two mines later this year and into next year, Cinabrio Norte and Dalmacia. The copper market is very strong, and we are benefitting from many favorable trends, including significantly lower treatment and refining charges as the market is structurally short concentrate. The Punitaqui Project has been mining ore and producing concentrate from our own ore bodies for approximately 9 months now and we are beginning to see consistent improvements in our mining rates and concentrate sales. In addition, ESI finished 2024 with record revenue and EBITDA and we see continued growth over the next few years as ESI introduces new products to the market. I would like to thank both the leadership teams at Punitaqui and ESI for all of their hard work and focus.

We look forward to providing further positive updates to shareholders in the near-term."

Annual and Quarterly Filings

BMR has been progressing towards completing its 2024 audited annual filings ("Annual Filings") as well as its Q1 2025 unaudited financial statements and Management's Discussion and Analysis ("Q1 Filings") and anticipates submitting the Annual Filings to SEDAR+ on or about July 3rd, 2025, and the Q1 Filings shortly thereafter.

The Company has been delayed in making the Annual Filings (see press release dated May 7th, 2025) in large part due to the additional analyses required in accounting for certain financing and other transactions which occurred in 2024, as well as certain tax adjustments. The delay in making the Annual Filings is not related to the accounting for any core financial aspects of the business, such as its revenues, operating costs, or its cash or debt position. The delay in the Q1 Filings is due to the fact that such filings can only be made following the completion of the Annual Filings.

A news release will be issued once the filings have been submitted. Following the filing of the Annual Filings and the Q1 Filings, the Company expects that the cease trade order (CTO) currently in place with respect to trading in the Company's common shares will be revoked within one to two business days (in Canada), as is the customary practice.

The Company thanks its shareholders for their continued patience as we finalize the outstanding filings. Management and the Board are working diligently to complete the process as quickly as possible.

Max Satel, CFO of BMR, commented: "The Company is undertaking a review of its financial-reporting systems and processes, and is also working closely with its external auditors to streamline their review cycle, with the objective of ensuring that future filings are submitted within the statutory reporting deadlines."

Copper Concentrate Production and Outlook

During the period from January 1st to June 24th, 2025, the Company shipped a total of 7,533 dry metric tonnes (DMT) of copper concentrates, all produced at the Punitaqui flotation plant. The concentrates averaged 22.6% copper, amounting to approximately 3,753,273 pounds of contained copper.

• Punitaqui production and sales - 6,700 DMT were sourced directly from the Company's Punitaqui mines, processed at the Company's Los Mantos mill, then trucked ~130 km along paved, all-weather roads to Terminal Portuario de Coquimbo (TPC).

• Material processed under the Anglo Offtake Agreement - The remaining 833 DMT originated from copper-smelting slags supplied by Anglo American Sur S.A. ("Anglo") under the existing Offtake Agreement. These concentrates were delivered to Anglo's Chagres smelter in Catemu, Chile.

This steady cadence of production and deliveries underscores the reliability of Punitaqui operations while continuing to fulfill commitments under the arrangement with Anglo.

The Company continues to make steady progress with regards to increasing its mine production and increasing the availability of the Los Mantos mill. In recent months, management has implemented several initiatives to improve the performance of underground mining equipment and increase ore extraction rates, as well as improving mill performance through maintenance programs. In the month of June 2025, the Punitaqui mines delivered several days of mining rates in excess of 2,000 tonnes of ore per day, indicating a monthly run-rate of approximately 60,000 tonnes of ore.

The Company's near-term goal is to increase production from the Punitaqui mines to approximately 2,000 DMT of copper concentrates per month, and to reach a production rate from the Punitaqui mines of approximately 2,500-2,700 DMT of copper concentrates per month by the end of 2025. The continued production of concentrates from the aforementioned slags, plus potential processing of third-party ores, is expected to further contribute to an increase in the Company's overall production.

Performance of ESI Energy Services

BMR is also pleased to share an update on the performance and outlook for its 100%-owned subsidiary, ESI Energy Services, Inc. Operating under the trade name "Ozzies" and headquartered in Phoenix, Arizona, the company specializes in providing niche equipment leasing and sales to the renewable and conventional energy sectors. The company designs and delivers specialized backfill separation machines, sand delivery systems, and vacuum lift equipment for the oil and gas industry, as well as utility-scale solar and wind farm installations.

Over the past four years, Ozzies has transformed from a rental-only provider of backfill equipment into a dynamic manufacturer and supplier of specialized energy equipment. This strategic shift, marked by the introduction of sand delivery and vacuum lift systems for the renewable energy markets, has driven an impressive average revenue growth of 15% annually and a 35% EBITDA margin in 2024. ESI generated C$16.8 million in revenues in 2024 and we expect revenues to reach approximately C$20 million in 2025 with similar EBITDA margins as in 2024. By developing, leasing and selling equipment directly to customers, Ozzies has strengthened its market position and responsiveness to industry demands.

ESI projects sustained revenue growth of 10-15% per year over the next few years, driven by an increased focus on international sales and the development of new products as it expands into new markets within the renewable energy sector, such as battery storage and data centers. ESI's commitment to innovation and its agile, direct-to-customer model will continue to drive its success in the global energy landscape.

About Battery Mineral Resources Corp.

Battery Mineral Resources' mission is to build a mid-tier copper producer and has recently initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-silver producer, in the Coquimbo region of Chile. The Company's portfolio also consists of its 100% ownership in ESI Energy Services Inc., other mineral exploration assets located in North America, and two graphite assets in South Korea. The Company is focused on providing shareholders accretive exposure to copper and the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favorable mining jurisdictions. Further information about BMR and its projects can be found on www.bmrcorp.com.

For more information, please contact:
Lazaros Nikeas, CEO
Phone: +1 (604) 628-1110
info@bmrcorp.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, the ability of the Company to timely complete the Annual Filings and revoke the CTO, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the inherent risks involved in the rental and sales of heavy equipment and machinery, the ability of the Company to meet its anticipated development schedule, government regulation, and fluctuating commodity prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257353

FAQ

What is Battery Mineral Resources' (BTRMF) copper production target for end of 2025?

The company aims to reach a production rate of 2,500-2,700 DMT of copper concentrates per month from its Punitaqui mines by the end of 2025.

How much revenue did ESI Energy Services generate in 2024 and what is projected for 2025?

ESI generated C$16.8 million in revenues in 2024 and projects approximately C$20 million for 2025, maintaining similar EBITDA margins of 35%.

When will BTRMF's cease trade order be lifted?

The cease trade order is expected to be lifted within 1-2 business days after the submission of Annual Filings and Q1 Filings, which are anticipated around July 3rd, 2025.

What was Battery Mineral Resources' copper concentrate production in H1 2025?

From January 1st to June 24th, 2025, the company shipped 7,533 dry metric tonnes (DMT) of copper concentrates, averaging 22.6% copper content.

How many mines does Battery Mineral Resources currently operate?

The company currently operates two mines (Cinabrio and San Andres) and plans to operate two additional mines (Cinabrio Norte and Dalmacia) later in 2025 and into 2026.