EDM Selected to Showcase Scotia Mine at Canada Investment Summit
EDM uses the Canada Investment Summit to market Scotia Mine and attract financing and offtake partners ahead of a planned restart.
Rhea-AI Summary
EDM Resources (EDMFF) reports that its 100%-owned Scotia Mine has been selected by Nova Scotia to be showcased at the Canada Investment Summit on September 14-15, 2026.
The zinc, lead and gypsum project will feature in the Nova Scotia Digital Deal Book and related investor networking events as EDM seeks financing, offtake and strategic partnerships for a planned restart. The company highlights Scotia Mine as an advanced brownfield critical minerals asset with substantial existing infrastructure, a relatively low estimated restart capital cost of about C$31 million, and good access to power, roads and the Port of Halifax.
EDM’s Summit investment profile draws on historical figures from its NI 43-101 Preliminary Feasibility Study dated December 30, 2021, including a reported after-tax IRR of 69%, a 14-year mine life, and approximately 150 expected direct jobs, plus reported Proven and Probable reserves of 13.66 million tonnes of base metals and 5.18 million tonnes of gypsum. The company is preparing an updated Mineral Resource Estimate and new PFS, and states that future results may differ materially from the 2021 PFS.
Positive
- Estimated initial capital approximately C$31 million from the 2021 PFS
- After-tax IRR 69% reported in the 2021 Preliminary Feasibility Study
- Mine life 14 years as reported in the 2021 PFS
- Employment approximately 150 direct jobs expected during operations
- Base metal reserves 13.66 million tonnes grading 2.03% zinc and 1.10% lead
- Gypsum reserves 5.18 million tonnes grading 91.8% gypsum
Negative
- Economic and operating metrics are historical 2021 PFS estimates and may differ materially after new studies
AI-generated analysis. How Rhea-AI works. Not financial advice.
Halifax, Nova Scotia--(Newsfile Corp. - September 14, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (OTCQB: EDMFF) ("EDM" or the "Company") is pleased to announce that its
The President and CEO, Mr. Mark Haywood, stated: "We are very pleased that the Scotia Mine has been selected by Nova Scotia to be showcased as one of the Province's investment opportunities at the Canada Investment Summit. The Scotia Mine is an advanced brownfield critical minerals project with substantial existing infrastructure, a relatively low restart capital requirement and excellent access to power, roads and international shipping through Halifax.
With our amended Industrial Approval now in place and work underway on an updated Mineral Resource Estimate and Preliminary Feasibility Study, our focus is increasingly shifting toward financing, offtake and strategic partnerships required to restart the mine. The Summit provides an excellent opportunity to present the Scotia Mine directly to investors and potential partners looking for advanced Canadian critical mineral projects."
The Scotia Mine will be included in the Nova Scotia Digital Deal Book, which is being prepared for distribution to prospective investors and other participants at the Summit. EDM will also participate in investment and networking activities surrounding the Summit, including the Nova Scotia Networking Reception hosted by Premier Tim Houston on September 15, 2026.
The Canada Investment Summit provides EDM with an opportunity to introduce the Scotia Mine Restart Project to Canadian and international investors, financing groups and other potential strategic partners as the Company advances the project toward a planned restart.
SCOTIA MINE INVESTMENT OPPORTUNITY
Located approximately 60 kilometres northeast of Halifax, Nova Scotia, the Scotia Mine is a past-producing zinc, lead and gypsum operation with substantial existing infrastructure, including a processing plant, tailings management facilities, grid power, paved highway access and proximity to the Port of Halifax.
The Company is currently completing a comprehensive project update program that includes an updated Mineral Resource Estimate, a new Preliminary Feasibility Study, mine optimization, environmental and permitting activities and exploration targeting additional zinc, lead, gypsum and precious metals.
EDM's investment profile prepared for the Summit highlights several attributes of the Scotia Mine, including certain economic and operating metrics from the Company's NI 43-101 Preliminary Feasibility Study dated December 30, 2021 (the "2021 PFS"):
- Advanced brownfield development project with substantial existing infrastructure;
- Estimated initial capital expenditures of approximately C
$31 million ; - After-tax IRR of
69% as reported in the 2021 PFS; - 14-year mine life as reported in the 2021 PFS;
- Approximately 150 direct jobs expected during operations; and
- Opportunities for strategic equity investment, project financing and concentrate offtake partnerships.
The economic and operating metrics from the 2021 PFS referenced above are historical estimates. The Company is currently preparing an updated Mineral Resource Estimate and Preliminary Feasibility Study, and the results of those studies may differ materially from the estimates contained in the 2021 PFS.
The 2021 PFS reported total Proven and Probable base metal Mineral Reserves of 13.66 million tonnes grading
Zinc is included on Canada's critical minerals list and is an essential input for galvanizing steel, infrastructure, manufacturing and energy-transition applications. EDM's objective is to leverage Scotia Mine's existing infrastructure and advanced stage of development to establish the operation as one of Canada's next zinc producers.
ADVANCING TOWARD RESTART
The Company's participation in the Canada Investment Summit follows the recent amendment of the Scotia Mine's provincial Industrial Approval and forms part of EDM's broader strategy to advance the project through updated technical studies, completion of remaining permitting activities and the development of financing and offtake arrangements.
QUALIFIED PERSON
Mr. Mark Haywood, B.Eng. (Mining Engineering) (Hons.), LLB., of Scotia Mine Limited and EDM Resources Inc., and a Qualified Person as defined under NI 43-101, has reviewed and approved the technical information contained in this news release.
About EDM Resources Inc.
EDM is a Canadian exploration and mining company that holds a
The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM", the Frankfurt Exchange under the symbol "P3Z", and the OTCQB® Venture Market under the symbol "EDMFF". For more information, please contact:
| Mark Haywood | President & Chief Executive Officer |
| Arnab De | Chief Financial Officer |
| Manish Grigo | Corporate Development |
| Telephone | +1 (902) 482 4481 |
| Facsimile | +1 (902) 422 2388 |
| info@EDMresources.com |
The Company's corporate filings and technical reports can be viewed on the Company's SEDAR+ profile at www.sedarplus.ca.
Further information on EDM is also available on the Company's website and social media channels as follows:
Internet at www.EDMresources.com
Facebook at http://www.facebook.com/EDMresources.inc
X at https://www.x.com/EDMresources
LinkedIn at http://www.linkedin.com/company/EDMresources
YouTube at https://youtube.com/@edmresources?si=Bvyighil3mSoOKnD
CAUTIONARY STATEMENTS
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 news release.
This news release may contain forward-looking statements, including plans, objectives, estimates, and expectations regarding EDM Resources Inc.'s future activities. Such statements are identified by words like "believes," "expects," "plans," "estimates," "may," "could," or similar terms. Forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These include, but are not limited to, mineral resource estimates, exploration and development results, project timing, market conditions, commodity prices, financing, and operational risks. For a discussion of risk factors, please refer to EDM's Management Discussion and Analysis for the year ended December 31, 2025. EDM does not guarantee the accuracy of forward-looking statements and readers should not place undue reliance on them.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314132
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Where is the Scotia Mine located and what existing infrastructure does it have?
The Scotia Mine is located approximately 60 kilometres northeast of Halifax, Nova Scotia. It is a past-producing zinc, lead and gypsum operation with substantial existing infrastructure, including a processing plant, tailings management facilities, grid power, paved highway access and proximity to the Port of Halifax.
What project work is EDM currently carrying out at the Scotia Mine?
The company is completing a comprehensive project update program that includes an updated Mineral Resource Estimate, a new Preliminary Feasibility Study, mine optimization, environmental and permitting activities, and exploration targeting additional zinc, lead, gypsum and precious metals.
How does EDM describe its strategy for advancing the Scotia Mine toward restart?
EDM states that, with its amended Industrial Approval in place, its focus is increasingly on securing financing, offtake and strategic partnerships, supported by updated technical studies and completion of remaining permitting activities, to advance the Scotia Mine Restart Project toward a planned restart.
Who is the Qualified Person for the technical information on Scotia Mine?
Mr. Mark Haywood, B.Eng. (Mining Engineering) (Hons.), LLB., of Scotia Mine Limited and EDM Resources, is identified as the Qualified Person under NI 43-101 who has reviewed and approved the technical information in the news release.