Vancouver, BC - TheNewswire - January 16th, 2025 – Durango Resources Inc. (TSX.V: DGO) (Frankfurt: 86A1) (OTCQB -ATOXF) (“Durango” or the “Company”) is pleased to announce the acquisition of five critical metals properties in Canada, including one antimony project, one rare earth project, and three copper projects to compliment the Company’s growing strategic resource property portfolio.

Antimony Project

The Company has acquired an antimony project that is 115.57 hectares and located in Haida Gwaii, northern British Columbia.

Highlights

• hosts 5% stibnite (antimony mineral) and cinnabar. 

• veinlets and fracture filling within a cherty argillaceous sandstone. 

• showing is 2.5-3m wide and 10-12m long at surface. 

Historical Work

The BC Minfile report (No 103F 059) states: “Mineralization consists of up to 30 per cent realgar, 5 per cent stibnite, 5 per cent orpiment, with lesser pyrite, cinnabar and marcasite, occurring as massive pods, disseminations, veinlets and fracture fillings within a cherty argillaceous sandstone near the top of the turbidite unit. The mineralized horizon is structurally overlain by silicified argillite, chloritic wacke and chlorite-clay–altered sandy tuff. The mineralization is exposed over a width of 2.5 to 3 metres and a length of 10 to 12 metres. It strikes 110 degrees and dips 46 degrees north.”

 

Rare Earth Element Project

The Company has acquired a 100% interest in claims located in the Lake Chapiteau region of Québec which host a region of critical and rare earth elements in syenite pegmatite rocks.  A mapping and sampling program was completed by previous owners Quest Rare Minerals (“Quest”). In 2010 Quest collected 12 rock outcrop samples which all host notable anomalous values for barium, barium, beryllium, fluorine, gallium, niobium, lead, rubidium, tantalum, thorium, uranium, zinc and zirconium averaging as per the table below.

Critical Elements (ppm / grams per ton)

Rare earth elements on the property have been averaged and broken down into light and heavy rare earths as per the table below:

  

Rare Earth Elements (ppm / grams per ton)

 

Three Copper Projects

The Company has acquired a 100% interest in the historical Shefford Copper Mine located in the Ely Township of Québec. The property hosted artisanal mining in 1881 and 1901 with total production of 11.3 tons of 11.0% copper (Cu) (SIGEOM, Geoscience Database of Québec Government). The mineralization is described as chalcocite-bornite-calcite veins or in disseminations with historical values of 46.14% Cu and 37.50 g/t silver (Ag) assayed from grab samples made exclusively of copper-bearing minerals. (*Bancro, J. A., 1916. Rapport sur les gisements de cuivre des cantons de l'est de la province de Québec. AP1916-01, p.267)

Durango has also obtained a 100% interest in the historical Logan Copper Mine which is located about 8km south of the Shefford Mine in the Stukely Township of Québec. Two pits were mined from 1850 until 1864, with a total production of 4.5 tons at 20% Cu. Two grab samples collected during a metallogenic study assayed 5.07 % Cu, 4.87 % Zn, 36.0 g/t Ag and 0.88 % Cd and 0.81 % Cu and 7.0 g/t Ag. (Gauthier, M., 1986. Synthèse métallogénique de l'Estrie et de la Beauce (secteur centre-ouest), annexe no 1: fiches descriptives des gites métallifères repères sur le terrain en 1985. UQAM; MB 86-47, p.145)

The third copper property the Company has acquired is a 100% interest in is the Bowers showing which is in Québec in the Melbourne township. Initial exploration activities were completed prior to 1866 and consisted of trenches and pits with mineralisation of copper bearing, quartz calcite veinlets. The historical grab sample assays returned values of 24% and 19% Cu made exclusively chalcopyrite and bornite, respectively.  A grab sample of 8.8 g/t Au was also mentioned in the same historical report. (Hinzer, J. B., 1987. Geological Report, Melbourne Property. Internat Thunderwood Expls ltd, GM 45788, p.27)

Terms of the Acquisitions

Durango has negotiated a cash payment of $5,000 upon signing and the issuance of four million (4,000,000) common shares of the Company (issuable upon regulatory approval) for a 100% interest in the properties to arm’s length vendors.  All shares issued will be subject to a four-month and 1-day period from the date of issuance as per securities regulations.

About Critical Metals

Critical metals are essential components of modern technologies, including renewable energy systems, defense applications, and advanced electronics. Both the United States and Canada have identified specific lists of critical metals vital to their economic and national security. The U.S. Geological Survey’s 2022 list includes 50 critical minerals, while Canada has designated 31 minerals as critical.

Recent geopolitical developments have heightened concerns over Western supply chain security of these critical metals. China, which holds a dominant position in the production and processing of a number of critical metals, has implemented export bans affecting the West. Notably, China has recently restricted exports of gallium, germanium, and antimony to the United States, citing their dual military and civilian uses.

These actions underscore the strategic importance of diversifying Western supply chains and developing domestic sources for critical metals to mitigate geopolitical risks and ensure the stability of essential industries.

 

About Antimony

Antimony is a critical mineral primarily used as a flame retardant and alloying agent in lead-acid batteries, ammunition, and semiconductors. It also has strategic applications in defense and energy storage technologies, making it a high-priority material for many governments. The global antimony market is forecasted to grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030, driven by rising demand in renewable energy storage and military applications.

China dominates global antimony production, accounting for over 70% of supply, leading to significant supply chain risks. This concentration creates vulnerabilities for industries and countries reliant on antimony for essential applications. In December 2024, China banned exports of antimony to the United States, citing its dual military and civilian uses, further exacerbating supply chain concerns.

The U.S. Department of Defense has designated antimony as a critical mineral due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

About Rare Earths

Rare earth elements (REEs) are a group of 17 elements critical to advanced technologies, including wind turbines, electric vehicles, defense systems, and telecommunications. REEs are essential for the production of high-performance magnets, lasers, and batteries, with applications spanning both civilian and military sectors. The global rare earth market is projected to expand at a CAGR of 9.2% from 2023 to 2030, driven by their indispensable role in the energy transition and high-tech industries.

Economic concentrations of REEs are geographically limited, with over 80% of global processing controlled by China. This concentration has led to geopolitical concerns about supply chain resilience, especially in light of rising demand and international trade tensions. While China has previously used its dominance in the rare earths market as leverage, as of now, there is no comprehensive export ban on rare earth elements to the West. However, the potential for such restrictions remains a concern for global supply chains.

Western governments are currently investing heavily in rare earth mining and processing projects to reduce reliance on Chinese supply chains and support critical industries, making domestic exploration efforts increasingly significant.

About Copper

Copper is a cornerstone of modern infrastructure, powering everything from electrical grids and renewable energy systems to electric vehicles and telecommunications networks. As one of the most widely used industrial metals, copper is indispensable for its high conductivity, durability, and recyclability. The global copper market is expected to grow at a CAGR of 4.3% between 2023 and 2030, driven by surging demand in renewable energy and electric vehicle manufacturing.

Copper is also recognized for its strategic importance in defense applications, including radar systems, naval vessels, and advanced weaponry. However, the copper supply chain faces challenges due to declining ore grades, production constraints, and geopolitical risks in key producing regions. To address these concerns, governments and companies are investing in new exploration and production initiatives to meet future demand and ensure long-term supply security, evidenced in part by its inclusion on the critical metals lists.

Sources:

1.        Critical Metals - U.S. Geological Survey 2022 Critical Minerals List, Canadian Critical Minerals Strategy, China Restricts Gallium and Germanium Exports

2.        Antimony - China’s Ban on Antimony Exports, Antimony in National Defense

        3.        Rare Earths - Rare Earth Elements Market Forecast,         China and Rare Earth Export Controls

        4.        Copper - Copper’s Role in Renewable Energy, Copper Market Trends and Growth Forecast

Marcy Kiesman, CEO of Durango Resources, commented, “We are excited to announce the acquisition of these promising critical metals assets, which we recognize as essential to powering the next generation of high-tech, defense, and other vital industries. Our new exploration strategy is anchored in the application of advanced, AI-driven technology, which we are confident will help us unlock the full potential of these properties with speed and precision. Coupled with our continued focus on advancing our recent gallium discovery at the NMX Critical Metals Project in Quebec, we are certain that the Company is increasingly well-positioned to help meet the growing Western demand and urgency for these elements.”

None of the historical information in the release has yet been verified by the Company and should not be relied upon.

 

Melanie Mackay, PGeo, EGBC (Engineers and Geoscientists British Columbia) 35256, APEGA (Association of Professional Engineers and Geoscientists of Alberta 305012), is a director and qualified person for Durango and approves the technical content of this news release.

 

About Durango

Durango Resources Inc. is a Canadian natural resources company dedicated to exploring and developing critical and strategic metals assets. The Company owns a 100% interest in a portfolio of projects which include a recent gallium discovery at the NMX Critical Metals Project, Québec, key properties in the Babine Copper-Gold Porphyry District, British Columbia, claims near the Troilus Gold Camp, as well as claims in the Windfall Lake Gold Camp.

For further information on Durango, please visit www.durangoresourcesinc.com and www.sedar.com.

 

Marcy Kiesman, CEO

Telephone: 604.428.2900 or 604.339.2243

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

 

Forward-Looking Statements

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the upcoming work programs, and other statements relating to the business, financial and technical prospects of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

 

Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

 

Neither 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 release.