Peaskie Minerals Inc. Announces Updated Proven Reserve Volumes

REDWATER, AB, July 29, 2024 /CNW/ - Peaskie Minerals Inc., a leading player in the sand and gravel mining industry, is pleased to announce a significant update to its proven reserve volumes. Backed by recent drill results, Peaskie now holds a substantial 102 million metric tons (MT) of domestic sand reserves on deeded land in the Opal, AB area. Additionally, the company has secured access to a minimum of 20 million MT through existing and under-negotiation royalty arrangements.

Over the past few months, Peaskie Minerals Inc. has made it a top priority to secure resources on deeded land. This strategic move not only strengthens our position in the market, helps to meet industry demand, but also ensures long-term stability and available domestic supply for our customers, particularly in the Alberta and Northeast British Columbia Montney, as well as the Duvernay and Cardium basins.

"These shovel-ready deposits come with significant permitting already in place, allowing us to meet the immediate and future demands of our clients efficiently," said Keith Arsenault, CEO of Peaskie Minerals Inc. "Our priority has always been to provide reliable and high-quality materials, and this update is a testament to our commitment."

Looking ahead, Peaskie aims to market an additional 1 million MT per year specifically for frac sand, further expanding our offerings without compromising on the additional resources needed for building products and other uses.

Peaskie Minerals Inc. remains dedicated to responsible and sustainable mining practices, ensuring that our operations continue to benefit the environment, economy, and communities we serve.

SOURCE Peaskie Minerals Inc.

For more information, please contact: Keith Arsenault, CEO, Peaskie Minerals Inc., 780-942-4914, [email protected]