WMK:CC - WHITEMUD RESOURCES INC. News Release
(TheNewswire)
Calgary – TheNewswire- November 18, 2022 – Whitemud Resources Inc. (“Whitemud” or the “Company”) (TSXV:WMK) is pleasedto provide the following marketing and operational update.
This year, 2022, has seen positive indicationsregarding potential demand for Whitemud’s Enviropozz metakaolin.Numerous cement and concrete companies took the opportunity to runfield tests of Enviropozz in their concrete mixes and have had afirsthand opportunity to see the benefits from adding Enviropozz intotheir cement mixtures. This has resulted in a number of potential newcustomers considering using Enviropozz on a regular basis in theirconcrete mixtures commencing in 2023, provided Whitemud can assure asecure supply of the necessary quantity of product and the partiesreach agreement on terms. No firm commitments have been made yet,but Whitemud is encouraged by the increased interest in itsproduct.
In addition to the merits of Enviropozz as a pozzolinand its environmentally lower carbon footprint than traditionalPortland cements, Envirpozz provides concrete producers with a supplychain cost savings as well.
Whitemud and its marketing team are diligently workingto secure offtake agreements to meet minimum volume hurdles to supporta capital program for facility upgrades at the Wood Mountain plant anda potential restart of plant operations in Q2, 2023. The upgradesand restart will be required in order for Whitemud to provide thenecessary supply commitments to potential customers. In addition tomeeting the minimum volume hurdle, Whitemud will need to obtain thenecessary financing for the capital program.
Our engineering and technical team has evaluated aseries of plant upgrades which would significantly increase therecovery percentage of kaolin from the ore. This would lower the costper ton of Enviropozz metakaolin produced to be a competitively pricedcementitious cement additive.
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation holdingmineral rights to exploit a large kaolin deposit in southernSaskatchewan, together with a processing facility located on theproperty. Whitemud’s product, Whitemud (MK) is a cement-grademetakaolin that enhances the performance of cement for oil and gaswells and construction applications. The Company uses a process thatminimizes environmental impact.
Midstream Energy Partners, a division of WhitemudResources Inc. formed in 2015, engages in the business of commoditymarketing and logistics.
For further information, pleasecontact:
Whitemud Resources Inc.
General Inquiries
Suite 900, 332 - 6 th AvenueSW
Calgary, Alberta T2P 0B2
Attention: David Koplovich: koplovid@telus.net
Reader Advisory
This news release contains forward-looking statements,within the meaning of applicable securities legislation, concerningWhitemud’s business and affairs. In certain cases, forward-lookingstatements can be identified by the use of words such as“attempts”, “intends”, “continues” or “potential”,or variations of such words and phrases, or words and phrases whichstate that certain actions, events or results “may”, “could”,“would” or “might” be achieved. These statements involveknown and unknown risks, uncertainties and other factors that maycause actual results or events to differ materially from thoseanticipated in such forward-looking statements. Although Whitemudbelieves these statements to be reasonable, no assurance can be giventhat these expectations will prove to be correct and suchforward-looking statements included in this news release should not beunduly relied upon. Such statements include statements with respectto the Company attracting new customers and securing firm offtakeagreements with such customers and statements regarding theCompany’s ability to increase the recovery percentage of kaolin fromore through plant upgrades, resulting in a more competitively pricedproduct. Actual results could differ materially from thoseanticipated in these forward-looking statements. Potential customersmay not enter into firm commitments, the Company may not be able tocomplete the proposed capital program due to the inability of theCompany to obtain financing or sufficient offtake agreements to makethe upgrades financially viable. The upgrades may not achieveanticipated efficiencies. Results may also differ as a result ofprevailing economic conditions and other factors, many of which arebeyond the control of Whitemud. The forward-looking statementscontained in this news release represent Whitemud’s expectations asof the date hereof, and are subject to change after such date.Whitemud disclaims any intention or obligation to update or revise anyforward-looking statements whether as a result of new information,future events or otherwise, except as may be required by applicablesecurities regulations.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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