CoTec Announces Mid-project Update For Its Lac Jeannine Mine Tailings Reclamation And Restoration Project, Québec, Canada

About this update from Cotec Holdings Corp

VANCOUVER, BC / ACCESS Newswire / June 16, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec" or the "Company") is pleased to announce the release of a mid-project update following engineering work carried out by BBA[i][ii] on the Lac Jeannine Mine Tailings Reclamation and Restoration Project, Québec, Canada ("Lac Jeannine", or the "Project"). The Feasibility Study is currently expected to be completed during Q2, 2027. The Project has the potential to supply the market with a 67% total Fe iron concentrate that qualifies as a critical and strategic mineral under the Québec and federal critical mineral initiatives. The recently reported updated Mineral Resource Estimate (the "MRE") and Preliminary Economic Assessment ("PEA") for the Project increased the after tax NPV to US$91.9M, and its IRR to 29.6% with a 15-year life of mine, excluding further potential upside from an additional 28 million tonnes of exploration material and the application of the Salter gravity separation technology.[iii] Key findings of the mid-project update The Company and its wholly-owned subsidiary CoTec Québec Corporation Inc. continue to make good progress with the completion of the Feasibility Study ("FS") and can provide the following project progress: Julian Treger, CoTec CEO commented; "the Project continues to make good progress, and the mid-project review builds on the recently updated and enhanced Mineral Resource Estimate and Preliminary Economic Assessment. We are working closely with our stakeholders, Innu local enterprise Groupe Nipi, and BBA, and have developed an environmental baseline roadmap which de-risks the Project whilst at the same time optimises value. As the FS progresses the Company will target further optimisation work, inclusion of the remaining 28 million tonnes of exploration material and application of the Salter gravity separation technology, all of which could potentially add further significant upside. The initial metallurgical results from Corem are very exciting and indicate the Project could qualify for critical mineral status with both Federal and Provincial governments with an upgrade of the concentrate from the current level of 66.8% to greater than 67% Total Fe, which is essential for low carbon, green steel production." Details of Project review The Lac...

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