USCM Retains Haynes Cobalt Asset in Idaho Amid US Stockpiling and Lack of Domestic Production

Rhea-AI Summary

U.S. Critical Metals (OTCQB: USCMF) has maintained 100% ownership of its Haynes Cobalt Project in Idaho's Cobalt Belt, adjacent to Jervois Mining's operations. The strategic retention comes as the U.S. Defense Logistics Agency launches a $500 million program to acquire 7,480 tonnes of cobalt for defense stockpiles.

The 470-acre property features historical drilling results including 1.77m of 0.53% cobalt, and recent 2021 sampling revealed significant cobalt grades up to >1.0%. The project's location near the only primary U.S. cobalt mine and historical production from three adits enhances its strategic value, particularly given the U.S.'s >75% dependence on external cobalt sources.

The property also shows potential for Rare-Earth Element (REE) mineralization, with xenotime presence correlating with cobaltite mineralization, presenting an additional exploration opportunity.

Positive

• Strategic location adjacent to the only primary cobalt mine in the U.S.
• Historical drilling showed promising results with up to 1.77m of 0.53% cobalt
• Recent 2021 sampling confirmed high-grade cobalt presence (>1.0%)
• Additional value potential from rare-earth element mineralization
• Property benefits from existing infrastructure and historical workings
• Aligns with $500M U.S. government initiative for cobalt stockpiling

Negative

• Historical drilling data requires further verification by qualified persons
• Some historical drill holes cross property borders, creating uncertainty about mineralization location
• Heavy dependence on future exploration success to determine economic viability

Vancouver, British Columbia--(Newsfile Corp. - September 4, 2025) - U.S. Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company") is pleased to announce that it has retained its 100% ownership of the past-producing Haynes Cobalt Project (the "Haynes Cobalt Project" or the "Property") in the highly prospective Idaho Cobalt Belt (the "ICB"), adjacent to Jervois Mining's Idaho Cobalt Operations. This asset aligns with the Company's long-term strategy to maintain, explore, and develop a portfolio of past-producing mineral properties hosting commodities critical to United States ("U.S.") interests.

The U.S. continues to address cobalt needs through imports and releases from the National Defense Stockpile. As noted by the U.S. Geological Survey, only a small portion of supply needs are addressed by domestic production - primarily recycling and byproduct streams, which results in an over 75% dependence on external cobalt sources¹. Recently, the U.S. military, through the Defense Logistics Agency, initiated a five-year, $500 million program to acquire approximately 7,480 tonnes of cobalt for strategic defense stockpiles, marking its first major purchase since the 1990s².

With the U.S. currently holding only limited strategic cobalt stockpiles and very limited domestic cobalt production, USCM views the Haynes Cobalt Project as a potentially key asset in bridging future supply needs for defense, aerospace, and energy transition industries.

Executive Commentary

Darren Collins, CEO and Director of USCM, comments: "Retaining the claims comprising the Haynes Cobalt Project underscores our conviction in the long-term importance of cobalt to U.S. supply chains. We are also encouraged to see increased U.S. government support for critical metals, as evidence by the recent US$400 million equity investment in MP Materials Corp. from the U.S. Department of Defense³. We anticipate these strategic transactions to continue within the U.S., both by government and corporates, as issues with under supply become increasingly prevalent."

Strategic Asset in Premier Cobalt District

The Haynes Cobalt Property covers approximately 470 acres directly contiguous to Jervois Global's Idaho Cobalt Operations, which is the only primary cobalt mine in the U.S.⁴. Within past production from three adits, the Property lies within the historic Blackbird Mining District, known for its cobalt, copper, and gold mineralization, and benefits from proximity to established infrastructure. Of particular interest, USCM expects that the mineralization associated with the adjunct property may continue across the Property borders, as indicated in Figure 1 and Figure 2 below, outlining the historic underground workings.

Figure 1. Adit 2 at the Haynes Cobalt Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8837/265124_uscm1en.jpg

Figure 2. Map of Historic Underground Workings

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https://images.newsfilecorp.com/files/8837/265124_uscm2en.jpg

The Property was explored by Noranda Exploration Inc. ("Noranda") from 1979 to 1981, and Noranda again further developed the Property near three historical adits, with promising results from surface and underground drilling. Table 3 describes the results of the historical holes, some of which cross the current Property border, and the tenure of the historical information makes it uncertain whether the mineralized interval is on the Property or on the neighboring property⁵.

Table 3. Historical Noranda Drilling from 1980 and 1981

Hole ID	Result
HS-80-2A	1.77m of 0.53% cobalt
HS-81-3F	1.52m of 0.35% cobalt
HS-81-3G	1.83m of 0.45% cobalt

 

Additional reconnaissance work by Noranda in 1980 defined a two-kilometer trend of tourmaline-bearing breccia rocks on the Property. Tourmaline-bearing breccia is related to cobalt mineralization at the historical workings, and elsewhere in the ICB. Two samples were collected along this trend approximately 1.5 kilometres away from the historical adits and follow-up drilling by Noranda. The two samples are described in Table 4 below⁶.

Table 4. Historical Noranda Sampling form 1980

Sample	Cobalt (%)	Description
8583	1.0	0.61 metre wide tourmalinized breccia, 5% euhedral cobaltite
8592	0.1	Fluidized sediments, adit 12 metres long, abundant erythrite present

 

Historical samples from the Property also contain heavy Rare-Earth Element ("REE") mineralization in the form of xenotime and is associated with cobaltite mineralization. This observation of a correlation between REE and cobaltite mineralization has not yet been investigated as an exploration target and represents an intriguing aspect to the Property. A USCM Qualified Person has not done enough work to verify the results of the historical exploration.

In 2021, USCM collected rock samples from the Property with continued positive results. A total of 76 rock samples were collected from historical workings including pits, trenches and adits, as well as non-mineralized outcrops. Assay results from a select few rock samples collected in 2021 are shown in table and map below. USCM is currently planning its next phase of exploration for the Property⁷.

Table 5. Summary of 2021 Rock Sample Results with Significant Results

Sample ID	Rock Type	Co (%)	Au (g/t)	Cu (ppm)	As (ppm)	Y (ppm)
HS21SD-006	Altered Metasediment	0.219	0.276	114	4230	359
HS21SD-007	Tourmaline Breccia	0.4	0.091	605	7540	69.6
HS21SD-010	Tourmaline Breccia	>1.0	0.908	53.8	> 10000	> 500
HS21SD-011	Tourmaline Breccia	0.502	1.28	52.8	> 10000	> 500
HS21SD-046	Tourmaline Breccia	0.238	0.44	16.4	6300	90.7
HS21SD-073	Tourmaline Breccia	0.415	0.017	166	8740	95.7

 

Figure 6. Map Summary of Cobalt Sample Results

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https://images.newsfilecorp.com/files/8837/265124_uscm3en.jpg

Reference 1: U.S. Geological Survey. (2025). Mineral commodity summaries 2025: Cobalt. U.S. Geological Survey. https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-cobalt.pdf

Reference 2: Reuters. (2025, August 21). U.S. Defense Department to buy cobalt for up to $500 million. Reuters. https://www.reuters.com/world/us/us-defense-department-buy-cobalt-up-500-million-2025-08-21/

Reference 3: MP Materials - MP Materials Announces Transformational Public-Private Partnership with the Department of Defense to Accelerate U.S. Rare-Earth Magnet Independence. Available at https://investors.mpmaterials.com/investor-news/news-details/2025/MP-Materials-Announces-Transformational-Public-Private-Partnership-with-the-Department-of-Defense-to-Accelerate-U-S--Rare-Earth-Magnet-Independence/default.aspx

Reference 4: Jervois Global. (n.d.). Idaho Cobalt Operations. Jervois Global. Retrieved September 3, 2025, from https://jervoisglobal.com/projects/idaho-cobalt-operations/

Reference 5: Gardulski, A.F., (1982), Exploration Evaluation of The Breccia Systems of The Haynes-Stellite Prospect (0479) Blackbird Mining District, Lemhi County, Idaho., Report for Noranda Exploration, Inc., Belt District.

Reference 6: Ater, P., (1981), A Field Investigation of Tourmalinized Breccias within Sections 1, 2, & 3, T20N, R18E and Portions of Sections 35 & 36, T21N, R18E (No. 0477), Blackbird District, Lemhi County, Idaho., Report for Noranda Exploration, Inc., Cobalt, Idaho.

Reference 7: See NI 43-101 Technical Report on the Haynes Cobalt Project dated January 25, 2022, which is available on the Company's profile on Sedarplus.ca.

The comparable information about other issuers in this press release was obtained from public sources and has not been verified by the Company. Comparable means information that compares an issuer to other issuers. The information is a summary of certain relevant operational attributes of certain mining and resource companies and has been included to provide an overview of the performance of what are expected to be comparable issuers. The comparables are considered to be an appropriate basis for comparison with the Company based on their industry, commodity mix, jurisdiction, and additional criteria. The comparable issuers face different risks from those applicable to the Company. Relevant material concerning any adjacent or comparable properties included in this press release is limited to information publicly disclosed by the owner or operator for such adjacent or comparable property. The Company has relied on the Qualified Persons responsible for such information and has not independently verified such information. The Company cautions that past production, mineral reserves, resources, or occurrences on adjacent or comparable properties are not indicative of the mineralization on the Company's properties. Readers are cautioned that the past performance of comparables is not indicative of future performance and that the performance of the Company may be materially different from the comparable issuers. You should not place undue reliance on the comparable information provided in this press release.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Robert J. Johansing, BSC. geology, MSc economic geology, who is a qualified person as defined in NI 43-101. Mr. Johansing is a consultant of the Company.

About US Critical Metals Corp.

USCM is focused on mining projects that will further secure the U.S. supply of critical metals and rare earth elements, which are essential to fueling the new age economy. Pursuant to investments and option agreements with private Canadian and American companies, USCM's projects include the Long Canyon Uranium and Vanadium Property in Idaho, the Sheep Creek located in Montana, the McDermitt Lithium Property in Nevada, the Clayton Ridge Lithium Property located in Nevada, and the Haynes Cobalt Property located in Idaho. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the U.S. USCM intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of U.S. interests.

For further information please contact:

Darren Collins
Chief Executive Officer & Director
Email: dcollins@uscmcorp.com

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed "forward-looking information" with respect to USCM within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause USCM's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the exploration plans and expected exploration results at Haynes Cobalt property, results of operations, the expectation that property will be a key asset in bridging future supply needs for defense, aerospace, and energy transition industries and the expected financial performance of the Company.

Although USCM believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that USCM maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; USCM's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of USCM to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with USCM's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to USCM, including as set forth in the USCM's public disclosure documents filed on the SEDAR+ website at www.sedarplus.ca.

The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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FAQ

What is the significance of USCMF's Haynes Cobalt Project in Idaho?

The Haynes Cobalt Project is a 470-acre property adjacent to the only primary cobalt mine in the U.S., featuring historical production and significant cobalt grades. It's strategically important given the U.S.'s 75% dependence on external cobalt sources.

What are the recent sampling results from USCMF's Haynes Cobalt Project?

2021 sampling results showed significant cobalt grades, with some samples exceeding 1.0% cobalt, along with gold values up to 1.28 g/t and rare-earth element presence.

How does USCMF's Haynes Cobalt Project align with U.S. strategic initiatives?

The project aligns with the U.S. Defense Logistics Agency's $500 million program to acquire 7,480 tonnes of cobalt for strategic defense stockpiles, addressing domestic supply chain needs.

What historical drilling results were reported at the Haynes Cobalt Project?

Historical drilling by Noranda (1980-1981) showed notable results including 1.77m of 0.53% cobalt, 1.52m of 0.35% cobalt, and 1.83m of 0.45% cobalt.

What additional mineral potential exists at USCMF's Haynes Cobalt Project?

Beyond cobalt, the project shows potential for Rare-Earth Element (REE) mineralization in the form of xenotime, which is associated with cobaltite mineralization, presenting additional exploration opportunities.