Idaho Cobalt Operations

Jervois acquired the Idaho Cobalt Operations (“ICO”) cobalt, copper and gold mine in 2019. Over $200 million has been invested to date in mineral resource drilling, underground mine development, construction of mill and concentrator processing plant as well as environmental installations, offices, camp and other infrastructure. Operations are suspended and the mine is maintained at a high level to enable rapid operational re-start. Permits for operations are in place.

ICO is the only primary cobalt mine in the United States and will supply a critical metal necessary for electric vehicles, energy generation and distribution, defense and other industries playing a key role in the transition to the low carbon economy.

Jervois has undertaken infill and expansion drilling from both surface and underground platforms to improve ICO’s resource model. The deposit remains open at depth and along strike, and Jervois is confident of strong potential of both resource and reserve expansion.

In addition, Jervois has conducted confirmation drilling within the Sunshine deposit, located a short traverse to the ICO mill and concentrator, advancing a historical mineral resource to modern 43-101 compliance as part of its U.S. Department of War Defense Production Act Title III award.

Commitment to Best Practices

At ICO, Jervois is applying best-in-class environmental and safety standards, systems, and techniques as part of its overarching environmental, social and governance (“ESG”) policies. Key activities related to both the regulatory requirements at ICO as well as voluntary activities form the basis of our aim to be a positive contributor to the local and regional communities, businesses and environments.

ICO maintains its commitment to environmental stewardship to protect water quality, wildlife, aquatic habitat, and biodiversity within the Upper Salmon River basin as a key focus of its comprehensive and ongoing water management strategy.

United States Cobalt Refinery

Jervois has completed a bankable feasibility study (fully funded by a U.S. Defense Production Act Title III award) for a cobalt refinery to be located within the U.S.. The refinery will establish cobalt refining in the U.S. and will be capable of producing ~6,000 metric tons per year cobalt.

To watch a video on Idaho Cobalt Operations visit www.jervoisidahocobalt.com