Line 2 feasibility study contract signed to double production at ARAGUAIA

highlight:

• Awarded Araguaia Line 2 feasibility study to double nickel production to 29,000 tons per year.
• Leveraging Line 1’s shared infrastructure and services is expected to be less capital intensive.
• AACEI Class 3 Standard Cost Estimate.
• The Line 2 process plant is located within an existing industrial area.
• A trade-off to be able to convert part of the production to nickel matte.and
• We aim to publish the Line 2 Feasibility Study in the second half of 2023.

LONDON, UK / ACCESSWIRE / 6 March 2023 / Horizonte Minerals Plc (AIM:HZM) (TSX:HZM) (“Horizonte” or “Company”)A nickel company developing two Tier 1 assets in Brazil reports that it has been awarded a Line 2 Feasibility Study (“FS”) contract for its Araguaia nickel project (“Araguaia” or the “Project”) . His second line in Araguaia is expected to increase production of nickel by 100% to 29,000 tonnes per year with the construction of his redundant RKEF processing facility (“Line 2”).

The purpose of the FS is to produce an NI 43-101 feasibility report supported by an AACEI Class 3 quality cost estimate and project execution plan. The company aims to publish its findings in the second half of 2023. The main contractors for this work are:

• Snowden – Geology, Mine Design, Mine Planning, and NI 43-101 Report.
• Environmental Resource Management (ERM) – outline plan for environmental permits;
• Reta Engineering – Cost estimating, execution scheduling and planning services.
• Draft Solution – Lead Engineer, Basic Engineering Design and Documentation.and
• Afry Poyry – Process Engineering Support.

All of these groups are major contributors to the ongoing engineering, costing and construction work on Line 1 in Araguaia and have extensive knowledge and understanding of the project.

The Line 2 FS is expected to demonstrate a mine life of over 25 years and deliver approximately 29,000 tonnes of nickel capacity per year in Araguaia. Line 2 will increase production flexibility, reduce capital intensity and improve operating margins. As part of the FS, an option was designed into the flowsheet to allow a portion of the furnace product from line 2 to be converted to nickel matte, allowing Araguaia to supply not only high-quality, low-impurity ferronickel, but also batteries for electric vehicles. Upgraded to feed directly into the chemical supply chain.

The Araguaia plant has been designed and optimized to enable the construction of Line 2, with major fixed infrastructure sized to support both lines, reducing the overall cost of Line 2 development to We are reducing.

Horizonte CEO Jeremy Martin commented:

“The order for Line 2 FS is an important step towards achieving our goal of making Araguaia a scalable, low-cost nickel operation. Designed to produce 29,000 tons of nickel per tonne per year, we are able to support this scenario with the potential to extend mine life in the future. We are also excited about the possibility of participating in different parts of the nickel market.

“We are on track to build Araguaia Line 1 while maintaining budget and schedule for first nickel production in Q1 2024. At the same time, we are preparing for the next phase of growth. I’m here. Vermelho feasibility study scheduled to be confirmed 2024.

For more information, visit www.horizonteminerals.com or contact:

About Horizonte Minerals

Horizonte Minerals plc (AIM & TSX: HZM) is developing two wholly owned Tier 1 projects in the state of Para, Brazil, the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large-scale, high-grade, low-cost, low-carbon and scalable. Araguaia is under construction, with the first metal scheduled for early 2024, with lines 1 and 2 fully ramped up and expected to produce 29,000 tonnes of nickel per year. Vermelho is in the feasibility study stage and he plans to produce 25,000 tons of nickel and he 1,250 tons of cobalt to supply the EV battery market. Combined with Horizonte’s near-term production profile of over 60,000 tonnes of nickel per year, it positions the company as an important nickel producer globally. Horizonte’s top three shareholders are La Mancha Investments S.à rl, Glencore plc and Orion Resource Partners LLP.

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Except for statements of historical fact about the Company, certain information contained in this press release may constitute “forward-looking information” under the securities laws of Canada. Forward-looking information is generally disclosed using forward-looking terms such as “plans,” “expects,” “does not expect,” “expects,” “budget,” “planned,” and “estimate.” can be identified using “predict,” “intend,” “predict,” “do not predict,” or “believe,” or that a particular action, event, or outcome “could,” “could,” ” Variations of the word or phrase or statement, “may” or “obtained”, “occurred” or “achieved”. Forward-looking information has been made in the light of management’s experience, trends, current conditions, recognition of expected developments and other factors that management believes to be relevant and reasonable. based on our reasonable assumptions, estimates, analyses, and opinions. the circumstances as of the date such statements are made, which inherently involve known and unknown risks, uncertainties and that our actual results, level of activity, performance or achievements may differ materially from those expressed; Risks that may be subject to other factors or implied by such forward-looking information include, but are not limited to, risks related to: Mineral Resource and Reserves Estimates, and the Company’s Ability to Achieve Mine Growth Objectives; Realization of Mineral Resource and Reserves Estimates, and Production Consistent with the Company’s Potential Production Profile; achievement or success in exploration and mining activities. future exploration, production and development costs and timing; our ability to expand our production lines on our planned timelines; Our inexperience with development stage mining operations. fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements. Exploration, Mining and Other Licenses. our future payment obligations; Potential disputes regarding our ownership of mining rights and their acreage. our reliance on our ability to raise sufficient funds in the future; our reliance on relationships with third parties; the potential for currency fluctuations and political or economic instability in the countries in which we operate; exchange rate fluctuations; the ability to effectively manage the company’s growth; The trading market for our common stock. uncertainties regarding our plans to continue developing our business and new projects; The company’s reliance on key personnel.Potential conflicts of interest for our directors and officers and various risks associated with the legal and regulatory framework in which we operate and identified and disclosed in our disclosure records available on our profile on SEDAR. the risk of www.sedar.comThis includes, but is not limited to, the Company’s Annual Information Form, the Araguaia Report, and the Vermelho Report for the year ended December 31, 2021. Although our management has attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking information, we do not believe that results are anticipated, estimated or intended. There may be other factors that cause it to differ. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements.

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