CoTec Holdings Corp. Investment MagIron Announces Positive Pig Iron Optionality

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VANCOUVER, BC / ACCESS Newswire / August 4, 2026 / CoTec Holdings Corp. (TSXV:CTH)(OTCQX:CTHCF) ("CoTec" or the "Company") is pleased to announce that MagIron LLC ("MagIron"), a US based company in which it owns an approximately 17% fully diluted equity interest, has announced the completion of a positive pig iron concept and economic study for its Minnesota based iron ore resources and iron ore concentrator and Indiana based pelletizing facilities (the "Study"). The Study was completed by Primetals Technologies ("Primetals"), a recognized global leader in metallurgical plant solutions and iron and steelmaking technologies, evaluating the development of large-scale granulated pig iron production to be integrated with MagIron's existing facilities. The Study confirms three technically credible pathways to the production of approximately two million tonnes per annum of granulated pig iron at the MagIron facilities and supports MagIron's strategy to establish itself as a key supplier of high-quality iron units into the United States. The Study indicates that MagIron is uniquely positioned to supply both DR-grade iron ore pellets and merchant pig iron to the U.S. steel industry. MagIron states that it intends to, subject to more detailed technical and feasibility studies, advance the development of domestic pig iron production while retaining the flexibility to produce and sell DR-grade pellets, allowing MagIron greater flexibility to respond to customer requirements and market conditions while using the same underlying resource base and existing processing and pelletizing infrastructure. The indicative economics from the Study are compelling and MagIron would be able to leverage off its existing infrastructure with an aggregate replacement value of approximately US$1.3 billion. CoTec CEO and MagIron Executive Chairman Julian Treger stated, "The positive result from the Study is an important milestone for MagIron. It highlights a number of advantages that we believe would be extremely difficult to replicate by other potential market participants: a very large domestic iron ore resource, substantial existing processing and pelletizing infrastructure, access to established logistics and the ability to produce high-quality, low-phosphorus iron units. At an initial production level of approximately two million tonnes per annum, MagIron believes it could meet up t...

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