VANCOUVER, British Columbia, June 17, 2021 ― Temas Resources Corp. (CSE: TMAS, OTCQB: TMASF, FSE: 26P) (the “Company” or “Temas Resources”), is pleased to an­nounce that, further to its news release dated December 18, 2020, the Company and Erin Ventures Inc. have now entered into a definitive option and joint venture agreement dated June 16, 2021 (the “Option Agreement”) for the joint development of Erin Ventures’ Piskanja Borate Project located in Serbia (the “Piskanja Project”).

Figure 1: 3D Model showing the indicated and inferred resource at Piskanja

“We are thrilled to enter into this definitive option agreement with Erin Ventures,” states Michael Dehn, President and CEO of Temas Resources. “At Temas we are looking forward to furthering the development of the Piskanja Boron Property in Serbia along-side Erin Ventures.” Mr. Dehn added, “We have jointly developed a very robust exploration plan and anticipate announcing details in the coming weeks.”

Figure 2 Drill Hole EVP2012-118 showing high grade boron mineralization

Pursuant to the Option Agreement, Temas Resources may earn a 50% interest in the Piskanja Project by (a) issuing to Erin Ventures 250,000 common shares and 250,000 Temas warrants (each exercisable to acquire a common share for a period of 48 months from issuance, at an exercise price equal to the market price of the common shares less the maximum allowable discount pursuant to stock exchange policies) within five business days after the effective date of the Option Agreement, and (b) incurring an aggregate of €10,500,000 in expenditures on the Piskanja Project. The Option Agreement may be terminated in certain circumstances, including by Erin Ventures if certain milestones are not met in accordance with specified timelines. Upon exercise of the option by Temas Resources, a joint venture will be formed and Erin Ventures and Temas Resources will become associated as joint venturers to further advance the Piskanja Project.

Boron is an essential mineral and is found in everything from eye drops, mild antiseptics, a supplement for building stronger bones and muscles to boric acid, which is used to toughen and increase heat resistance in Pyrex.

About the Piskanja Project

Piskanja is Erin Ventures’ wholly owned boron deposit with an indicated mineral resource of 7.8 million tonnes (averaging 31.0% B2O3), and an inferred resource of 3.4 million tonnes (averaging 28.6% B2O3). Calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (“CIM Standards”) as disclosed in Erin Ventures’ report titled “Mineral Resource Estimate Update on the Piskanja Borate Project, Serbia, October 2016 – Amended February 28, 2019” prepared by SRK Consulting (UK) Ltd. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The responsible persons for the Updated Mineral Resource Estimate are Dr. Mike Armitage (C.Eng., C.Geol.) and Dr. Mikhail Tsypukov who are both full time employees of SRK and Qualified Persons in accordance with the CIM Standards, both gentlemen are independent of Erin Ventures.

About Temas Resources

Temas Resources Corp. (“Temas Resources”) (CSE:TMAS) (OTCQB:TMASF) (FSE: 26P) is focused on the advancement of mineral independence and the processes in which min­erals are extracted in an environmentally friendly manner. Temas Resources invests in and works to apply green technology across its mining portfolio to reduce the environ­mental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.

Temas Resources is advancing Fe-Ti-V projects in Quebec and soon expects to be active on Boron Projects in Serbia.

Qualified Person

Rory Kutluoglu, B.Sc, P.Geo, is the Qualified Person as defined by NI 43-101 who has re-viewed and approved the technical information contained within this press release.

On behalf of the Board of Directors of Temas Resources Corp.,

“Kyler Hardy”

Director

For inquiries on using the Temas family of technologies please contact:

Michael Dehn
President and CEO
E-mail: michael@temasresources.com
Tel: 647-477-2382 

Contact Information:

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Dave Burwell
Vice President
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Forward Looking Statements

This news release includes certain “ForwardLooking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forwardlooking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forwardlooking statements or information.

Forwardlooking statements and forwardlooking information relating to any future min­eral production, liquidity, enhanced value and capital markets profile of Temas Re­sources, future growth potential for Temas Resources and its business, and future ex­ploration plans are based on management’s reasonable assumptions, estimates, expecta­tions, analyses and opinions, which are based on management’s experience and percep­tion of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of iron, titanium, vanadium and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of de­velopment of exploration projects; Temas Resources’ ability to operate in a safe and ef­fective manner and its ability to obtain financing on reasonable terms.

These statements reflect Temas Resources’ respective current views with respect to fu­ture events and are necessarily based upon a number of other assumptions and estim­ates that, while considered reasonable by management, are inherently subject to signific­ant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forwardlooking statements or forward-looking information and Temas Resources has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral project; precious metals price volatility; risks associ­ated with the conduct of the Company’s mining activities in Quebec; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding mineral resources and reserves; the Company’s in­ability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from op­erations; risks relating to project financing and equity issuances; risks and unknowns in­herent in all mining projects, including the inaccuracy of reserves and resources, metal­lurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and fin­ancial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption “Risk Factors” in Temas Resources’ management dis­cussion and analysis. Readers are cautioned against attributing undue certainty to for­wardlooking statements or forward-looking information. Although Temas Resources has attempted to identify important factors that could cause actual results to differ materi­ally, there may be other factors that cause results not to be anticipated, estimated or in­tended. Temas Resources does not intend, and does not assume any obligation, to up­date these forwardlooking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such state­ments or information, other than as required by applicable law.

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