NI 43-101 Technical Report On The Mesaba Copper-Nickel-PGM Deposit

MINNESOTA - PolyMet Mining Corp. reported the filing of a technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) by Independent Mining Consultants, Inc. (IMC) and JDS Energy & Mining Inc. (JDS) on the Mesaba deposit.

The Mesaba deposit, owned by Teck American Inc., a subsidiary of Teck Resources Limited forms part of the proposed NewRange Copper Nickel LLC Joint Venture with Teck; PolyMet's NorthMet deposit represents the other share. PolyMet and Teck will each own 50% of the two deposits upon closing of the Joint Venture, which is anticipated by the end of Q1 2023, and is subject to satisfaction of closing conditions, set forth in the Combination Agreement, dated as of July 19, 2022, among PolyMet and Teck and certain of their respective subsidiaries, and receipt of certain regulatory approvals.