Norge Mining, an Anglo-Norwegian mineral exploration company with a world-class resource of critical raw materials in southwest Norway, has announced that its Norwegian subsidiary, Norge Mineraler AS, has secured extraction rights in Eigersund municipality. This achievement marks a significant milestone in the company's strategy to become a key European supplier of critical raw materials for Europe and beyond.

The extraction rights, covering an area of 26.3 km², consist of approximately 32 individual licenses granted by the Norwegian government's Directorate for Mineral Management. These licenses encompass the Company's exploration areas of Storeknuten, Skeipstad, and Øygrei. Storeknuten, also known as the Eigersund Project, is the Company's most advanced exploration area.

The granted extraction rights pertain to vanadium, titanium, and iron ore, all found within the norite rock typical of the Eigersund area. The company will negotiate separately with landowners to secure extraction rights for phosphate, another crucial mineral targeted, in compliance with the Norwegian Minerals Act of 2009. Norge Mineraler is now entering the planning and zoning phase for the proposed mine development. The company is engaged in constructive discussions with the Eigersund municipality and the Norwegian government. This phase will involve comprehensive impact assessments and consultations before the final planning application is submitted. The recently awarded extraction rights will be incorporated into the Company's pre-feasibility study, which is nearing completion.

Norge Mineraler's application for extraction rights is among the first to utilize the Norwegian government's "fast-track" process, aimed at expediting the permitting of mining operations.

John Vergopoulos, CEO of Norge Mining, commented: "The granting of extraction rights represents another significant milestone for Norge Mining and our Norwegian subsidiary, Norge Mineraler, as we advance towards becoming a sustainable supplier of Critical Raw Materials. This award underscores the economic potential of our deposits, and our immediate focus is on advancing through the planning and zoning phase before finalizing our planning application."

Norge Mining is a natural resources company operating in both Anglo-Norwegian regions, with a primary focus on mineral exploration within Norway. The company's JORC resource estimates from the Bjerkreim Exploration Project in southwest Norway have verified substantial deposits of EU Critical Raw Materials, including phosphate, vanadium, and titanium. These materials play crucial roles in various sectors such as clean energy transition and food security. Moreover, their traceability is strategically vital for achieving net-zero carbon and meeting ESG commitments, emphasizing the need for transparent supply chains.

With ownership of 61 exploration licenses covering over 520 square kilometers in Norway, Norge Mining is actively conducting exploration activities, building upon previous studies conducted by the Geological Survey of Norway (NGU). Established in November 2018 and headquartered in the UK, the company operates a wholly-owned Norwegian subsidiary, Norge Mineraler AS. Norge Mining aims to grow into a substantial, sustainable, and strategically important player in the European exploration and mining industry.