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Bluejay Mining plc Exploitation and Closure Plan Permit Received

18.06.2021  |  CNW

LONDON, June 18, 2021 - Bluejay Mining plc ("Bluejay" or the "Company") (EPIC: JAY) (Market: AIM) (Sector: Mining), the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce that, further to the award of its Exploitation Licence announced on 14 December 2020, the Government of Greenland has approved the Exploitation and Closure Plan (the "Plan") for the Dundas Ilmenite project ("Dundas" or the "Project").

The Plan, which was submitted by the Company after the Exploitation Licence was awarded, is the final Government-level approval required before construction at Dundas can commence.

Bo Møller Stensgaard, CEO of Bluejay Mining, commented: "The Permit covering the Dundas Ilmenite Project's Exploitation and Closure Plan is the final Government approval required to enable the commencement of construction. Following the receipt of our approved Exploitation Licence, we continue to finalise the optimisation planning and engineering sign-off, together with advancing discussions with partners to form a strong project financing syndicate.

"The Greenland Government has remained supportive of the Project throughout a recent Parliamentary election and the Covid-19 pandemic, and we look forward to developing our project portfolio in Greenland in the most sustainable way possible, while respecting local stakeholders."

Naaja H. Nathanielsen, Minister of Housing, Infrastructure, Mineral Resources and Gender Equality, stated: "We are pleased to announce approval of the Exploitation and Closure Plan for the Dundas Ilmenite Project. This project provides new opportunities for the local community and marks a stepping-stone for the mining sector. We look forward to the continued cooperation with Bluejay Mining and Dundas Titanium on this and their other projects in Greenland."

About The Exploitation and Closure Plan

The Exploitation Plan sets out the exploitation of the mineral deposit, including aspects of the infrastructure, geology, environment, fiscal, socio-economy, and health and safety. The Closure plan is a technical plan describing the removal of equipment and installations, such as buildings and other technical installations when operations have finally ceased.

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Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and its shares also trade on the OTCQB Market in the US. With projects in Greenland and Finland, its most advanced project is the Dundas Ilmenite Project in Greenland, which is being developed towards production in the near term.

The Company's strategy is focused on securing financing ahead of commencing commercial production at Dundas in order to create a company capable of self-funding exploration on its current projects and future acquisitions.

Bluejay holds three additional projects in Greenland - the 2,897sq km Disko-Nuussuaq Magmatic Massive Sulphide nickel-copper-cobalt-platinum group element-gold project, which has shown its potential to host mineralisation similar to the world's largest nickel-copper mining district at Noril'sk-Talnakh, northern Russia; the 692sq km Kangerluarsuk zinc-lead- silver project, and the 2,555 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. In Finland, Bluejay has agreed a joint-venture agreement with Rio Tinto Mining and Exploration Ltd at its Enonkoski Project.

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SOURCE Bluejay Mining plc

Roderick McIllree, Bluejay Mining plc, +44 (0)20 7907 9326; Kevin Sheil, Bluejay Mining plc, +44 (0)20 7907 9326; Ewan Leggat, SP Angel Corporate Finance LLP (Nominated Adviser), +44 (0)20 3470 0470; Adam Cowl, SP Angel Corporate Finance LLP (Nominated Adviser), +44 (0)20 3470 0470; Andrew Chubb, Hannam & Partners (Advisory) LLP, +44 (0)20 7907 8500; Tim Blythe, Blytheweigh, +44 (0)20 7138 3205; Megan Ray, Blytheweigh, +44 (0)20 7138 3205
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