Betolar executes MoU with Latitude 66 to collaborate on sustainable mining in Finland

Betolar Plc

Press Release

24 September 2024 at 3:00 P.M. EEST

Betolar executes MoU with Latitude 66 to collaborate on sustainable mining in Finland

Betolar has executed a non-binding Memorandum of Understanding ("MoU") with Latitude 66 Limited (“Latitude 66”) in relation to a collaboration agreement for the investigation of sustainable mining solutions for the development of Latitude 66’s Kuusamo Schist Belt Project (“KSB Project”) in Northern Finland.

Highlights

• Betolar and Latitude 66 have signed a non-binding MOU to collaborate on investigating sustainable mining solutions for Latitude 66’s KSB Project in Finland.

• Latitude 66 is a Finnish and Australian based company, focusing on the exploration and development of gold and critical minerals. The Company’s primary focus lies in the KSB Project situated in Northern Finland

• The partnership with Latitude 66 will look to utilise Betolar’s cutting-edge technologies and innovations in Latitude 66’s KSB Project, advancing sustainable practices and enhancing the project's sustainability credentials.

“Betolar's innovative solutions offer the mining company advanced methods for recovering valuable fractions and efficiently utilising waste. While achieving a zero-waste mine is the ultimate goal, it is essential to ensure environmental safety when selecting storage methods. Betolar's solutions for the safe storage of tailings are vital for the global mining industry. Latitude's dedication to sustainable mining establishes a robust foundation for creating an environmentally safe mining environment in Finland and worldwide.”, says Tuija Kalpala, the President and CEO of the company.

Latitude 66’s Managing Director Grant Coyle comments:

“We are delighted to sign the collaboration agreement with Betolar who is a leading sustainable mining solutions company in Finland. The collaboration will enable Latitude 66 to explore potential sustainable mining solutions through the utilisation of Betolar’s technology and innovations which will include the potential to minimize carbon emissions.  We see this as the first of many collaboration agreements Latitude 66 is currently exploring with local Finnish companies. This partnership underscores the strong support our KSB Project is receiving in Finland and reinforces our confidence in its success.”

More information:

Tuija Kalpala, CEO, Betolar Plc, [email protected], tel. +358 50 567 6608

Grant Coyle, Managing Director, Latitude 66, [email protected], tel. +61 8 9380 9440

About Betolar

Betolar Plc is a pioneering Finnish materials technology company driving the green transition in mining and construction. Betolar’s mission is to help reduce CO₂ emissions and the use of virgin natural resources.

Betolar develops low-carbon and waste-free solutions for the mining and metals industries, and its Geoprime® solution produces the world's lowest-emission hollow-core slabs. Betolar’s AI-powered Data Platform turns industrial side streams into value, accelerates solution development and builds global markets for side streams.

Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information: www.betolar.com

About Latitude 66

Latitude 66 is a Finnish and Australian based company, focusing on the exploration and development of gold and critical minerals. The Company’s primary focus lies in the Kuusamo Schist Belt Project (KSB Project) situated in Northern Finland. This flagship project boasts a substantial high-grade gold-cobalt mineral resource, with over 85% categorised as Indicated, totalling 650,000 ounces of gold at 2.7 grams per tonne (g/t) and 5,800 tonnes of cobalt at 0.08%.

Beyond the KSB, Latitude 66 is conducting regional exploration activities in Finland at the highly prospective Peräpohja Schist Belts (PSB), Kainuu Schist Belts (Kainuu) and Central Lapland Greenstone Belt (Kola and Kolari).

Latitude 66 holds a 17.5% free-carried interest in Carnaby Resources’ Greater Duchess Project, strategically located in the Mt Isa Copper district in Australia. Furthermore, Latitude 66 is actively engaged in the exploration of two promising gold projects in Western Australia, the Sylvania and Edjudina Projects.