Jameson Resources Accelerates Crown Mountain Project with Government and Indigenous Backing

Government Engagement and Geopolitical Context

During the March 2025 quarter, Jameson Resources Limited intensified its dialogue with senior officials in the British Columbia government, including the Premier and key Cabinet Ministers. This engagement was driven by the strategic imperative to expedite the approval process for the Crown Mountain Hard Coking Coal Project amid rising geopolitical tensions. The looming threat of US tariffs on Canadian exports has prompted both provincial and federal governments to prioritize economic independence, with steelmaking coal identified as a critical industry exempt from such tariffs. This political backdrop has created a favourable environment for Jameson, with regulators agreeing to several measures aimed at streamlining the project's environmental assessment process.

Environmental Assessment Progress and Project Modifications

Jameson continued to address Information Requests arising from the 2024 public and technical review of its Environmental Impact Statement (EIS) and Environmental Assessment Application (EAA). Supplementary technical studies, including winter flora and fauna surveys, were completed and are being incorporated into the company's responses. Notably, in collaboration with Indigenous Nations, Jameson identified design modifications to the project footprint to reduce environmental disturbance and enhance offset opportunities. These include adjustments to the mine waste rock storage facility to protect fish habitats and relocating the rail loadout to avoid culturally significant archaeological sites. Regulators have agreed to accept progressive submissions of these responses, potentially accelerating the approval timeline.

Indigenous Partnerships and Impact Benefit Agreements

Indigenous engagement remains a cornerstone of Jameson's development strategy. The company has advanced discussions with the Yaqi̓t ʔa·knuqⱡi ‘it First Nation (YQT), whose unceded ancestral lands encompass the project area. Following a landmark Environmental Assessment Process and Consent Agreement signed in 2023, Jameson is now negotiating Impact Benefit Agreements to establish long-term partnerships supporting the project's construction, operation, and reclamation phases. Engagement with other Indigenous Nations in the region is ongoing to ensure inclusive participation and support.

Project Feasibility and Financial Position

In parallel with regulatory and community engagement, Jameson engaged independent technical advisers to review the project's coal reserves and update key economic assumptions since the 2020 Bankable Feasibility Study. The results of this review are anticipated in early May 2025 and will inform the project's development strategy. Financially, Jameson reported no debt and held A$1.22 million in cash at quarter-end. The company continues to fund project advancement in partnership with Bathurst Resources Limited, which holds a 20% interest in the Crown Mountain project through NWP Coal Canada Ltd. Jameson is also exploring options to raise additional capital to support ongoing development activities.

Outlook and Strategic Implications

Jameson's proactive approach to government and Indigenous engagement, combined with technical progress on environmental approvals and feasibility, positions the Crown Mountain project for timely advancement. The company's ability to navigate regulatory complexities and foster strong local partnerships will be critical as it moves toward final investment decisions. Meanwhile, the evolving geopolitical landscape and Canadian government support for steelmaking coal underscore the project's strategic importance. Investors will be watching closely for the upcoming feasibility review results and any updates on funding initiatives.