Canadian Premium Sand Inc. Announces Substantial Increase in Low-Iron Sand Resource

/EIN News/ -- CALGARY, Alberta, April 09, 2025 (GLOBE NEWSWIRE) -- Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce an updated Inferred Mineral Resource Report (the “2025 Technical Report”) has been completed for the Company’s Wanipigow Sand Project (the “Sand Project”) by APEX Geoscience Ltd., with an effective date of April 09, 2025. The 2025 Technical Report incorporates the results of additional sampling, processing and testing along with glass melt testing made possible through core programs and bulk excavation completed by the Company between 2022 and 2024.

The Sand Project proposes to supply the Company’s planned future pattern solar glass manufacturing facilities in Selkirk, Manitoba and in the US.

Key highlights of the 2025 Technical Report:

• The Company extended its Lower Black Island Member sand processing test work to achieve low-iron sand to other portions of the Sand Project property.
• The Company received positive results from its mineral processing tests conducted between 2022 and 2024 that include beneficiation studies, glass melt tests and an anti-reflective solar glass coating test.
• The resulting Lower Black Island glass sand mineral resource estimate in the 2025 Technical Report is 3.4 times larger than the resource reported in the Company’s initial LBI glass sand resource (dated October 14, 2021).
  

Table 1: The Wanipigow Glass Silica Sand Inferred Resource Estimate reported for the Lower Black Island sand as a total (global) volume and tonnage. The Total In-Situ values in grey represent the main inferred mineral resource estimate. A breakdown of the individual resource areas is also presented. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Inferred Mineral Resource Areas	April 2025 (metric tonnes)	October 2021 (metric tonnes)	Change (metric tonnes)
Total In-Situ	24,386,000	7,250,000	+ 17,136,000
Resource Area 1	8,668,000	7,250,000	+ 1,418,000
Resource Area 2	11,229,000	0	+ 11,229,000
Resource Area 3	1,030,000	0	+ 1,030,000
Resource Area 4	2,499,000	0	+ 2,499,000
Resource Area 5	238,000	0	+ 238,000
Resource Area 6	436,000	0	+ 436,000
Resource Area 7	286,000	0	+ 286,000

^{Note: 1: The ‘Total in-situ’ (global) volume and weights are estimated on a global basis and represent the main Inferred Wanipigow Glass Sand Resource Estimate.}

^{Note: 2: A nominal in-situ, or compacted, sand bulk density of 1.877 g/cm3 was applied to the Lower Black Island sand unit}

^{Note 3: The resource estimation of utilized cutoff of mesh-sizes that are greater than or equal to 35-mesh (<500 µm) and less than or equal to 120-mesh (<125 µm). The +35 and -120 mesh size fractions were discarded from the estimation process}

The justification of the increase in mineral resource areas is based on the positive results of the Company’s 2022 to 2024 mineral processing tests that include beneficiation studies, melt glass tests, and an anti-reflective solar glass coating test. During this period, CPS extended its Lower Black Island Member sand processing test work to other portions of the Sand Project property and continued to improve the beneficiation process. The expanded resource areas include those areas where the Lower Black Island sand successfully beneficiated to low-iron (≤100 ppm Fe₂O₃ LBI sand).

The updated Lower Black Island glass sand resource estimate is constrained to 7 separate resource areas, encompassing a total area of 5.18 km², where beneficiation testing achieved low-iron sand with ≤100 ppm Fe₂O_3. Collectively, the 7 resource areas encompass a surface area of 2.06 km².

Of the 110 drillholes and 761 gradation measurements that define the Sand Project geological model, the mineral resource areas collectively comprise 35 drillholes and 161 Lower Black Island gradation results. The combined resource areas have a minimum and maximum Lower Black Island thicknesses of between 0.04 and 16.5 m with an average normalized thickness of 9.4 m.

The sedimentary material overlying the Lower Black Island unit was also modelled within a single wireframe denoted as waste material. The overlying waste material is ubiquitous throughout the Wanipigow glass sand resource areas and extends from the surface to depths of between 0.7 and 15.1 m and averages 8.7 m.

The glass sand mineral resource is calculated using a block model with a size of 20 by 20 m in the horizontal direction and 2 m in the vertical direction. The block model was used to calculate the Wanipigow glass sand resource estimate of the different percentages of silica sand retained on the various screen sizes. Ordinary Kriging was used to estimate the size fraction values at each parent block that lies within the Lower Black Island sand wireframe.

The resource estimation of the individual Lower Black Island size fractions was completed and reported using a lower cutoff of mesh-sizes that are greater than or equal to 35-mesh (<500 µm) and less than or equal to 120-mesh (<125 µm). The +35 and -120 mesh size fractions were discarded from the estimation process.

A nominal in-situ, or compacted, sand bulk density of 1.877 g/cm³ was applied to the Lower Black Island sand unit. The density is based on 36 representative loose bulk Lower Black Island density samples and the loose bulk densities were converted to an in-situ bulk density by using a bulking factor of 30%. The overlying waste material has a compacted bulk density of 1.902 g/cm³.

The Wanipigow glass sand resource estimate has been classified and prepared in accordance with the Canadian Institute of Mining, Metallurgy, and Petroleum definition standards and best practice guidelines (2014, 2019) and the disclosure rule National Instrument 43-101. The Effective Date of the mineral resource estimate is 9 April 2025.

The inferred Wanipigow glass sand resource estimate predicts a total (i.e., global) Lower Black Island glass sand inferred resource of 24.386 million metric tonnes (Table 1).

Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

With respect to Lower Black Island sand tonnages within the individual mineral resource areas, Resource Area 2 has the highest tonnage (11.229 million metric tonnes), followed by Resource Area 1 (8.668 million metric tonnes), Resource Area 4 (2.499 million metric tonnes), Resource Area 3 (1.030 million metric tonnes), and Resource Areas 5, 6, and 7 have between 238,000 and 436,000 tonnes.

Table 1 above highlights the increase in inferred mineral resource estimates expressed in metric tonnes as compared to the previous Technical Report disclosed by the Company on October 14, 2021.

With respect to the overlying waste sedimentary rock and using a compacted bulk density of 1.902 g/cm³, the combined waste material contains an estimated 34.002 million metric tonnes.

Ongoing Lower Black Island sand beneficiation, furnace batch recipes, and glass chemical composition and physical characteristics test work is required to assess and advance the quality of the sand to higher levels of glass manufacturing standards in concert with CPS’s Modifying Factor studies.

Qualified Person

The Qualified Person responsible for the preparation of April 9, 2025, Wanipigow Glass Silica Sand Inferred Resource Estimate and associated Technical Report is Roy Eccles, P. Geol. P. Geo. of APEX Geoscience Ltd. Mr. Eccles is independent of Canadian Premium Sand Inc. and the Sand Project property for purposes of NI 43-101. Mr. Eccles has reviewed, and approved, the technical content in this News Release.

About Canadian Premium Sand Inc.

The Company is developing North American manufacturing capacity for ultra-high-clarity pattern solar glass through multiple facilities, utilizing high-purity low-iron silica sand from its wholly owned Wanipigow quarry leases.

The Company’s proposed low-carbon facility in Selkirk, Manitoba intends to utilize renewable Manitoba hydroelectricity with the potential to produce 6GW of low-carbon solar glass annually. The Company’s planned facility located in the U.S. could produce an additional 4GW of domestic solar glass. With 10GW of annual proposed solar glass manufacturing capacity, the Company is well positioned to become the largest and preferred supplier in North America. The Company is a reporting issuer in Ontario, Alberta and British Columbia. Its shares trade on the TSXV under the symbol "CPS".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:         

Canadian Premium Sand Inc.
Glenn Leroux
President and Chief Executive Officer
glenn.leroux@cpsmail.com

Investor Relations
IR@cpsmail.com
587.355.3714
www.cpsglass.com

Technical Disclosure

The technical information in this press release has been reviewed and approved by Roy Eccles, P. Geol. of APEX Geoscience Ltd. whom is independent of CPS and a “qualified person” under NI 43-101. The 2025 Technical Report, effectively dated April 9, 2025 was prepared by Roy Eccles, P. Geol. of APEX Geoscience Ltd. whom is independent of CPS and a “qualified person” under NI 43-101 and provides the details of the Sand Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resources and Reserves and is available for review under the Company's profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Mineral Resources

The terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource", "Inferred Mineral Resource" used in this press release are Canadian mining terms as defined in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves, as may be amended from time to time by the CIM. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. For a detailed discussion of the Company's resource and reserve estimates and related matters see the Company's 2025 Technical Report filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking statements relating to, without limitation, expectations, intentions, plans and beliefs, including information as to the future events, results of operations and the Company’s future performance (both operational and financial) and business prospects. In certain cases, forward-looking statements can be identified by the use of words such as “expects”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “plans”, “seeks”, “projects” or variations of such words and phrases, or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Such forward-looking statements reflect the Company's beliefs, estimates and opinions regarding its future growth, results of operations, future performance (both operational and financial), and business prospects and opportunities at the time such statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or circumstances should change. Forward-looking statements are necessarily based upon a number of estimates and assumptions made by the Company that are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Forward-looking statements are not guarantees of future performance. In particular, this press release contains forward-looking statements pertaining, but not limited, to: future development plans; industry activity levels; industry conditions pertaining to the solar glass manufacturing industry; the ability of and manner by which the Company expects to meet its capital needs; and the Company's objectives, strategies and competitive strengths. By their nature, forward-looking statements involve numerous current assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from those anticipated by the Company and described in the forward-looking statements. The forward-looking information and statements contained in this document speak only as of the date hereof and the Company does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.