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HIGHLIGHTS

• The Philippines Department of Environment and Natural Resources-Environmental Management Bureau has issued the MCB Project with its Environmental Compliance Certificate (ECC).
  
  
• The issuance of the ECC is a vitally important step towards obtaining a Mineral Production Sharing Agreement (MPSA) with the Philippine National Government.

Celsius Resources is pleased to announce that its Philippine subsidiary, Makilala Mining Company, Inc. (MMCI), has been issued an Environmental Compliance Certificate (ECC) for the development of its flagship Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project in the Philippines.

The issuance of the ECC signifies that MMCI has completed its Environmental Impact Assessment and certifies that the Company is committed to implement a national government-approved environmental management plan aimed to protect and mitigate the MCB Project’s anticipated social, cultural, and environmental impacts in all phases and aspects of the MCB Project.

Celsius Executive Chairman Atty. Julito R. Sarmiento said:

“The grant of the ECC is the most significant milestone for MMCI in our quest to showcase the MCB Project in line with the strong policy under the Administration of President Ferdinand R. Marcos, Jr. for a more sustainable, inclusive, and transformative mining industry in the Philippines. Environmental protection has always been one of the primary considerations in the MCB Project’s mine design.

“This is not only in strict adherence to the Environmental, Social and Governance standards¹, but also as a firm commitment to our stakeholders and shareholders for the MCB Project to become a model for ‘Beyond Responsible Mining²‘ in close partnership with the Department of Environment and Natural Resources under the stewardship of Secretary Maria Antonia Yulo-Loyzaga, a globally renowned climate change and disaster resilience expert.”

The issuance of the ECC enables the Company to move forward with obtaining a Mineral Production Sharing Agreement with the Philippine Government which would allow the Company to develop and operate the MCB Project.

Read the full announcement including information regarding Listing Rule 5.19 and 5.23 Disclosure here.

1 A set of metrics or Performance Standards which are benchmarks for companies in managing their operations in respect to risks, impacts, and opportunities relating to but not limited to environmental issues, social issues, and corporate governance structures and processes.

2 Department of Environment and Natural Resource’s call to operate mines beyond regulatory compliance in order for the sector to be a critical force for social, economic and environmental change for the country.