PRESS RELEASE

Black Mountain Metals (“Black Mountain”) and the Tembo Capital Group  (“Tembo Capital”) are pleased to announce that the two groups have created a strategic partnership to jointly advance the Lanfranchi nickel sulphide mine in Western Australia.

As part of the transaction, Black Mountain sold a 50% ownership interest in Lanfranchi to Tembo Capital. AJ Saverimutto will be assuming the role of CEO of the new joint Black Mountain-Tembo development company.

Black Mountain President Ashley Zumwalt-Forbes said the agreement is an exciting endeavor for the team and industry. “Lanfranchi is an important future source of nickel ore for the battery metal industry. We are excited to bring Tembo on board to further extend the reserve base and advance Lanfranchi towards production to further support the new energy transition.”

Tembo Capital CEO, David Street, said; “We are very excited to be partnering with Black Mountain as significant investors in Lanfranchi. We have a strong focus on nickel as a critical metal in the battery supply chain and we view Lanfranchi as a very attractive, strategic asset.

The Lanfranchi Mine is located 40 kilometers south of Kambalda in Western Australia. Between 2005 and 2015, Lanfranchi produced a total of 3.85 million tonnes of high-grade nickel sulphide ore. About 11,000t of nickel per annum was produced at Lanfranchi when last in operation. Lanfranchi hosts a mineral resource of 4.5 million tonnes for over 80,000 tonnes of nickel metal. The mine has been on care and maintenance since 2015. Black Mountain acquired the mine in 2018 from Panoramic Resources Limited.

About Tembo Capital

Tembo Capital is a long-term, mining-focused investment group, which has a strong track record of identifying and supporting emerging resource companies globally. The Tembo Capital team has significant technical expertise, together with mining finance and private equity experience. Tembo Capital has a strong focus on investing in sustainable developments that meet the highest standards of ESG performance.  For more details please visit  www.tembocapital.com

About Black Mountain

Black Mountain Metals is a global battery metals mining company specializing in spearheading projects from development into production. Black Mountain’s objective is to fuel the electric revolution by ensuring sustainable and ethical sourcing and mining practices.

Agile and visionary, Black Mountain Metals is well poised to bridge the gap between talent and junior mining asset opportunities, capitalizing on the growing need for battery metals in electric vehicles and other technologies.To learn more, please visit www.blackmountainmetals.com

Press Contacts

Black Mountain Media
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(817) 529-9901