SRC Announces First New Quarry License

Stakeholder Gold Corp. (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce the receipt of licensing for the Company’s second (2nd) quarry, a White Quartzite Quarry located in Minas Gerais, Brazil near to the Company’s first operating quarry.

On the June 12th the State Forestry Institute of Minas Gerais, Instituto Estadual de Florestas ("IEF"), granted Stakeholder’s Brazilian Subsidiary, Mineração VMC Ltda. ("VMC"), authorization to clear the new project area for commercial production. VMC has now commenced building quarry infrastructure on site for the Company’s second operating quarry.

A sample block is being produced for marketing purposes. Full commercial operations will begin once the Regional State Environmental Agency, Superintendência Regional de Meio Ambiente, ("SUPRAM") grants the environmental license, which is now pending.

"White quartzite from Diamantina and the surrounding region is in strong demand. Many buyers have had difficulty sourcing white quartzite for their cutting and polishing operations. We believe that our new white quartzite quarry will find a ready market with steady demand, and that it will provide healthy margins and steady operating profits for the company," said Marcus Chase, president of VMC.

— Marcus Chase, President of VMC

Figure 1. White Quartzite produced from test block, VMC Quarry #2

Four (4) New Quarries Planned for 2024

Licensing for VMC’s third (3rd) quartzite quarry is also nearly complete. The application for an environmental license has received an initial response from SUPRAM. The area under consideration has already been issued a license by the federal mining agency, the Agencia Nacional de Mineração ("ANM"), and so VMC will be able to begin commercial operations immediately upon receipt of an environmental license.

Figure 2. Blue-Grey Quartzite produced from test block, VMC Quarry #3

VMC’s second (2nd) and third (3rd) quarries are both located within a 2km radius of the Company’s current operating quarry. The Company expects to benefit from synergies resulting from access to existing personnel and equipment.

VMC’s planned fourth and fifth (4th and 5th) quarries are also currently in pursuit of licensing. The materials for these proposed quarries have never been brought to market and will likely be able to command premium prices which the Company anticipates being in the range $2,500 USD/m3.

Figure 3. Grey-White Quartzite produced from test block, VMC Quarry #4

Figure 4. Teal Blue Quartzite produced from test block, VMC Quarry #5

"Our objective is to expand from a single operating quarry to five (5) operating quarries in 2024. We are also initiating direct sales of these building materials into the Canadian market, beginning in the GTA in Ontario, where we see evidence of rapid and sustainable growth in urban development." Stated Christopher Berlet, President & CEO of Stakeholder Gold Corp. "Stakeholder has twin channels for shareholder growth. The first is an expanding revenue stream from high margin quarry operations producing exotic stone for the building business. The second channel derives from the potential for substantial gold and copper discovery on the company’s 100% owned Ballarat Gold Project located in the heart of the White Gold District of the Yukon Territory, Canada."

— Christopher Berlet, President & CEO

Figure 5. Quartzite arrives at warehouse in Etobicoke, GTA, Ontario