DEBT PROCESS

As previously mentioned, Altech has engaged ten commercial banks and two venture debt funds in the first round of financing discussions, receiving largely positive initial feedback. Based on this feedback, the Company has selected a preferred financial institution- a European bank with a proven track record in providing debt funding for technology-driven projects, particularly those within the innovation sector.

Although the mandate has not yet been formally executed, Altech intends to make an official announcement once this step is complete.

Meanwhile, the bank’s commercial and technical teams have been diligently conducting a comprehensive review of the Cerenergy projects and its technology. The technical due diligence process is critical for ensuring that the project meets the bank’s financing and risk criteria. As part of this process the onsite Altech experts are in detailed discussions with the bank’s representative. The banks have visited Dresden and the Fraunhofer testing facilities and visit Hermsdorf, Germany where the prototype production is located in the coming weeks, which will be a key step in concluding the technical evaluation.

In parallel with these efforts, Altech is progressing discussions for securing a federal government guarantee, which would further strengthen its ability to secure the necessary debt funding for the project. Officials from the Ministry of Finance have already been briefed on the initiative, and the due diligence process for the application is actively underway. This federal guarantee will serve as an underwriter and therewith derisk any debt funding for the project substantially.

EQUITY FUNDING

In parallel with ongoing debt financing efforts, the Group has engaged several equity advisers to assist in securing the equity component of the project’s funding package. As part of this strategy, Altech plans to divest a minority interest in the project to one or two strategic investors. This partial divestment is intended to attract investors who can contribute not only capital, but also strategic value, aligning with the CERENERGY(R) project’s long-term goals of growth and sustainability.

The Group on one hand is specifically targeting large utility companies, data centre operators, investment funds, and corporations that are deeply committed to the green energy transition and on the other hand industrial partners with access and know-how and resources relevant to Cerenergy battery production, implementation or market access. These potential partners are seen as ideal due to their strong alignment with the project’s sustainable energy focus and their ability to provide significant financial support. Progress in equity discussions has been promising, with several Non-Disclosure Agreements (NDAs) signed, enabling deeper engagement with prospective investors. Additionally, draft term sheets have been circulated to interested parties, outlining the key terms and conditions for investment. These documents provide a foundation for negotiations and facilitate more detailed discussions around the equity stake and partnership structure.

The decision to divest part of the project is strategically aimed at easing the Company’s financial burden while bringing in experienced partners who can contribute to the project’s success. By securing both equity and debt financing, Altech aims to finalize the full funding package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. Moving forward, the focus will be on advancing these discussions and converting interest into formal commitments, which are critical for the project’s progression.

GRANT APPLICATIONS

Altech has been actively applying for various grants offered by the State of Saxony, Federal Government of Germany, and the European Union. The State of Saxony and Brandenburg, along with the European Union, offer substantial support for renewable energy projects, including grants aimed at converting lignite coal to renewable energy sources. These grants are part of broader efforts to transition regions dependent on fossil fuels toward sustainable energy solutions. Altech’s site, located in these areas, stands to benefit from various funding programs designed to support clean energy projects, including EU grants for energy transformation and innovation. Altech has applied for several of these grants to advance its CERENERGY(R) project, securing essential financial backing for technology development, high-tech industries, expert employment and infrastructure upgrades.

OFFTAKE ARRANGEMENTS

Altech has secured three key Offtake Letters of Intent (LOIs) for 100% of its CERENERGY(R) production.

1. Zweckverband Industriepark Schwarze Pumpe (ZISP): An agreement was signed on 13 September 2024 for ZISP to purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The purchase is contingent on performance tests and battery specifications meeting customer requirements.

2. Referenzkraftwerk Lausitz GmbH (RefLau): A second LOI was executed with RefLau, a joint venture between Enertrag SE and Energiequelle GmbH. RefLau will buy 30 MWh of CERENERGY(R) storage n the first year, increasing to 32 MWh annually for the next four years. Additionally, Altech will purchase green electricity for its planned production plant.

3. Axsol GmbH: A third LOI was signed with Axsol, a leading renewable energy solutions provider. Axsol will exclusively distribute CERENERGY(R) batteries to the Western defense industry, facilitating early market entry and sales. These agreements are crucial for financing and advancing the CERENERGY(R) project.

About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

Source:
Altech Batteries Ltd

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Osisko Metals Incorporated (the ‘ Company ‘ or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

 Osisko Metals Chief Executive Officer Robert Wares commented: ‘ These new results underscore the overall large-scale potential of mineralization at Gaspé Copper, with drill hole 1082 cutting 853 metres of continuous mineralization, including the bottom 424 metres being located immediately below and outside the 2024 MRE model. Furthermore, drill hole 1088 intersected new mineralization 80 metres southwest of the 2024 MRE model, emphasizing the excellent potential for increasing the size of the known deposit at depth and to the south. ‘

Significant new analytical results are presented below (see Table 1) and include 35 mineralized intercepts from ten drill holes. Infill intercepts are all located inside the 2024 Mineral Resource Estimate model (‘MRE’, see    November 14, 2024 news release   ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are all located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both**’). Maps showing hole locations are available at www.osiskometals.com .

   Highlights:   

• Drill hole 30-1082
  •   853.5 metres averaging 0.20% Cu (infill and expansion)

   

  •   147.5 metres averaging 0.19% Cu (infill)

   

 

• Drill hole 30-1089
  •   645.0 metres averaging 0.28% Cu (infill and expansion)

   

  •   91.5 metres averaging 0.21% Cu (infill)

   

 

• Drill hole 30-1083
  •   427.5 metres averaging 0.26% Cu (infill and expansion)

   

  •   153 metres averaging 0.18% Cu (infill)

   

 

• Drill hole 30-0974
  •   351.0 metres averaging 0.20% Cu (expansion)

   

  •   295.5 metres averaging 0.29% Cu (infill)

   

 

• Drill hole 30-1087
  •   334.5 metres averaging 0.23% Cu (infill)

   

  •   74.5 metres averaging 0.62% Cu (expansion)

   

 

• Drill hole 30-1094
  •   227.5 metres averaging 0.26% Cu (infill)

   

  •   49.9 metres averaging 0.24% Cu (expansion)

   

 

• Drill hole 30-1088
  •   122.7 metres averaging 0.24% Cu (expansion)

   

  •   79.5 metres averaging 0.31% Cu (expansion)

   

 

• Drill hole 30-1091
  •   42.6 metres averaging 1.14% Cu (expansion)

   

  •   210 metres averaging 0.21% Cu (infill)

   

 

  Table 1: Infill and Expansion Drilling Results  

  * Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.  
** ‘Both’ indicates these drill holes have   contiguous shallower infill as well as deeper expansion intercepts.  

  Discussion  

Drill hole 30-0974 was an extension of a shallow (300 m) hole drilled in 2019, located near the southwestern margin of the 2024 MRE model. It returned 295.5 metres averaging 0.29% Cu and 1.88 g/t Ag (infill) followed by a second intercept of 351.2 metres averaging 0.20% Cu and 1.72 g/t Ag (expansion) and a third deeper intercept of 48.0 metres averaging 0.32% Cu and 2.00 g/t Ag (expansion), extending mineralization to a vertical depth of 780 metres.

Drill hole 30-1082, located on top of Copper Mountain near the central part of the 2024 MRE model, intersected 48.0 metres averaging 0.19% Cu and 1.46 g/t Ag (infill), followed by a second intercept of 147.5 metres averaging 0.19% Cu and 1.86 g/t Ag (infill), followed by a third deeper intercept of 853.5 metres averaging 0.20% Cu, 1.43 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 424.0 metres averaging 0.21% Cu, 1.33 g/t Ag and 0.026% Mo. This hole extends mineralization near the centre of the deposit to a vertical depth of 1140 metres.

Drill hole 30-1083, located in the south-central part of the 2024 MRE model, intersected two short 36 metre-long mineralized zones followed by 153.0 metres averaging 0.18% Cu and 1.56 g/t Ag (infill), followed by a deeper intercept of 427.5 metres averaging 0.26% Cu, 1.54 g/t Ag and 0.021% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 328.0 metres averaging 0.24% Cu, 1.43 g/t Ag and 0.020% Mo. This was followed by a final intercept of 55.5 metres averaging 0.16% Cu and 1.34 g/t Ag. This hole extends mineralization to a vertical depth of 900 metres.

Drill hole 30-1087, located in the south-central part of the 2024 MRE model, intersected a short 40 metre-long mineralized zone followed by 334.5 metres averaging 0.23% Cu, 1.93 g/t Ag and 0.011% Mo (infill). This was followed by 74.5 metres averaging 0.62% Cu and 3.19 g/t Ag and then by another 48.3 metres averaging 0.36% Cu and 2.83 g/t Ag (both expansion), extending mineralization to a vertical depth of 598 metres.

Drill hole 30-1088, located 80 metres outside the southwestern limit of the 2024 MRE model, intersected 42.0 metres averaging 0.32% Cu and 2.20 g/t Ag followed by 122.7 metres averaging 0.24% Cu and 2.63 g/t Ag. A third intersection at depth comprised 79.5 metres averaging 0.31% Cu and 2.19 g/t Ag (all expansion). Previously undocumented mineralization in this sector reached a vertical depth of 524 metres.

Drill hole 30-1089, located in the south-central part of the 2024 MRE model, intersected 91.5 metres averaging 0.21% Cu and 1.54 g/t Ag (infill), followed by two short 26 to 27 metre-long mineralized zones, followed by 645.0 metres averaging 0.28% Cu, 1.46 g/t Ag and 0.023% Mo. The latter incudes an expansion lower intercept, below the base of the 2024 MRE model, of 396.7 metres averaging 0.30% Cu, 1.34 g/t Ag and 0.023% Mo. This hole extends mineralization to a vertical depth of 965 metres.

Drill hole 30-1091, located in the southeastern part of the 2024 MRE model, intersected two short 23 to 26 metre-long mineralized zones, followed by 210.0 metres averaging 0.21% Cu and 2.10 g/t Ag (infill). This was followed by 38.0 metres averaging 0.22% Cu and 1.50 g/t Ag and then by another 42.6 metres averaging 1.14% Cu and 5.86 g/t Ag (both expansion), extending mineralization to a vertical depth of 583 metres where the hole was stopped in an open stope of historical E Zone mining operations.

Drill hole 30-1093, located near the southeastern margin of the 2024 MRE model, intersected 112.0 metres averaging 0.25% Cu and 2.73 g/t Ag (infill), followed by four short 23 to 67 metre-long mineralized zones (all expansion), which extended mineralization to a vertical depth of 834 metres.

Drill hole 30-1094, located near the southern limit of the 2024 MRE model, intersected 227.5 metres averaging 0.26% Cu and 2.11 g/t Ag (infill), followed by 57.0 metres averaging 0.13% Cu and 1.33 g/t Ag (infill), followed by two short 26 to 50 metre-long mineralized zones (both expansion), which extended mineralization to a vertical depth of 561 metres.

Mineralization occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. At least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier prograde skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedded replacement mineralization, which is mostly stratigraphically controlled, dominates in the area of Needle Mountain, Needle East and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see    May 6, 2024 MRE press release   ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see    November 14, 2024 MRE press release   ).

The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

All holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) and the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

  Table 2: Drill hole locations  

   
Explanatory note regarding copper-equivalent grades   

  Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.  

   Qualified Person   

  The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).  

   Quality Assurance / Quality Control   

  Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.

  Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the   ALS   Canada   Ltd.   facility   in   North   Vancouver,   BC.   All   samples   are   analyzed   by   four   acid   digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.  

   About Osisko Metals   

  Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec   ‘   s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current    Indicated Mineral Resources of     824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq    (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.  

  In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada   ‘   s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of    Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq    (in compliance with NI 43-101). For more information, see Osisko Metals   ‘   June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.  

  For further information on this news release, visit    www.osiskometals.com    or contact:  

Don Njegovan, President
Email: info@osiskometals.com  
Phone: (416) 500-4129

   Cautionary Statement on Forward-Looking Information   

  This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.  

  Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

   Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.   

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0b33977a-2c63-4bf2-9cdb-d5d703b082d3
  https://www.globenewswire.com/NewsRoom/AttachmentNg/9434cd6c-7d6f-458a-9439-d1eb4e66a5a1