Resource estimate of 80.108 million tonnes combined measured and indicated resources and 35.246 mill

Gulf  1980 exploration program included driving two adits for a bulk sampling program, and drilling of 6503 metres in 28 holes with a full complement of geophysical logging,  The in-place coal determined at an overall surface mineable ratio of 11.5:1 was calculated at 45,418,973 tonnes. 

2002 to 2004 drilling outlined in 2007 43-101 Report,  Hillsborough Resources Limited (2007-03-28): Technical Report, Wapiti Coal Property , outlined   a new resource estimate of 80.108 million tonnes combined measured and indicated resources and 35.246 million tonnes inferred resources 

Coal Application title 1097569 made by Agent has been issued.

The historic coal occurrence is outlined on the BC Ministry minfile system and can be viewed here https://minfile.gov.bc.ca/summary.aspx?minfilno=093P%20%20021 . 

This historic coal occurrence is in the area of GLENCORE (“LON:GLEN”) producing BC Coal assets which were purchased from TECK (T-TECK.B) in summer 2024.

ABOUT COAL

Barron’s magazine reported on November 6, 2024, “Coal Is One of the Biggest Winners from Trump Victory”, and DUKE Energy (“Z-DUK”) reported on November 7, 2024, that it is revisiting coal plans if President Elect Trump axes pollution rules, but even prior to this in summer 2024 several news outlets and the International Energy Association have reported “…Global coal demand is set to remain broadly unchanged in both 2024 and 2025… The world’s use of coal rose by 2.6% in 2023 to reach an all-time high…”.

Coal companies ARCH Resources (Z-ARCH) and CONSOL Energy (Z-CEIX) have announced an impending merger to become a dominant world coal producer and supplier.

The G7 which includes Canada and USA, have an agreed protocol to curb coal for energy usage to complete non coal electricity generation between 2030 to 2035 to reduce carbon emmissions. The protocol does not include coal for coking processes, and if President elect Trump removes the USA from the G7 protocol and axes pollution rules in the USA, not only will NAFTA - USMCA  rules be required to be adhered to but, there may be a push to cheaper construction cost coal generating electricity plants, as the cost to build a coal powered plant ranges from $1,000 to $4,500 per each kilowatt of installed capacity, a 1,000 MW coal-fired power plant could cost in most cases between $1 billion and $4.5 billion and the cost to build a nuclear power plant ranges from $5,500/kW to $8,100/kW or between $6 billion and $9 billion for each 1,100 MW plan.

India and China continue building coal energy generating plants, with China approving over 300 new coal power plants in 2024, and both countries have increased coal consumption. The recent published statistics report that China has 1,161 coal plants, India with 285 coal plants and USA is ranked third with 203 coal plants. Canada continues to have 8 coal powered plants in operation.