CAUTIONARY STATEMENTS

 

NIGERIAN MINERALS AND MINING ACT DISCLOSURE

The Nigerian Minerals and Mining Act, 2007 (“the Act”), as administered by the Federal Ministry of Solid Minerals Development and the Mining Cadastre Office, establishes the regulatory framework for all public disclosures concerning mineral exploration, development, and production in Nigeria. This framework ensures transparency, environmental compliance, and community engagement in line with national standards for sustainable mining practices.

Red Snow Mines Solutions Limited, a leading Nigerian-owned mining company focused on the extraction of tin, copper, zinc, and associated minerals in Plateau State, adheres to the requirements of the Act, which mandate the disclosure of key technical and operational information related to its projects, including evidence of technical competence through accredited professionals.

Dr. Fatima Yusuf, MNIM, FNSE, a Registered Mining Engineer and Competent Person accredited by the Council of Nigerian Mining Engineers and Geoscientists (COMEG), is responsible for the scientific and technical information presented on this Red Snow Mines Solutions Limited website, excluding details pertaining to Mineral Resource Estimates and the Rayfield Tin-Copper Project Preliminary Feasibility Study (PFS).

 

MINERAL RESOURCE ESTIMATE

For comprehensive details on the Rayfield Tin-Copper-Zinc Project Mineral Resource Estimate, refer to the Technical Report titled “Competent Person’s Report on the Rayfield Tin-Copper-Zinc Deposits, Plateau State, Nigeria,” prepared in compliance with the Nigerian Minerals and Mining Act, 2007. It was filed with the Mining Cadastre Office on August 12, 2023, and is available via the Nigerian Geological Survey Agency (NGSA) GeoData Centre at https://ngsa.gov.ng/geodata-centre/.

Engr. Musa Ibrahim, MNIM, Principal Mining Geologist for Plateau GeoServices Ltd., is independent of Red Snow Mines Solutions Limited and qualifies as a Competent Person under the Act and COMEG guidelines. Mr. Ibrahim is responsible for the Rayfield Mineral Resource Estimate.

For details on the Wase Columbite-Tantalum Project Mineral Resource Estimate, see the Red Snow Mines Solutions Limited press release dated November 5, 2023, titled “Red Snow Mines Solutions Limited Announces Updated Mineral Resources for the Wase Columbite-Tantalum Project: Key Strategic Minerals for Nigeria’s Technology Sector.”

The associated Technical Report, titled “Competent Person’s Report, Wase Columbite-Tantalum Project, Plateau State, Nigeria,” has an effective date of October 20, 2023, was filed with the Mining Cadastre Office, and is accessible through the NGSA GeoData Centre.

Prof. Emmanuel Okoro, PhD (Geology), FNSE, of Jos Mineral Consult Ltd., is independent of Red Snow Mines Solutions Limited and qualifies as a Competent Person under the Act and COMEG guidelines. Prof. Okoro is responsible for the Wase Mineral Resource Estimate.

 

PFS CAUTIONARY NOTE

For full details on the Rayfield Tin-Copper-Zinc Project Preliminary Feasibility Study, refer to the Technical Report titled “Preliminary Feasibility Study for the Rayfield Tin-Copper-Zinc Project, Plateau State, Nigeria,” prepared in compliance with the Nigerian Minerals and Mining Act, 2007. It was filed with the Mining Cadastre Office on March 15, 2024, and is available via the NGSA GeoData Centre, along with the Red Snow Mines Solutions Limited press release dated February 28, 2024.

This Technical Report includes a preliminary economic analysis of mineral resources that is conceptual in nature and does not incorporate any mineral reserves. It is expressly noted that the mineral resources outlined in this report are not classified as mineral reserves and have not demonstrated economic viability. There is no certainty that the preliminary economic analysis will be realized.

Engr. Sarah Adeyemi, MNIM, Lead Project Engineer for Tinplate Engineering Solutions Ltd., is independent of Red Snow Mines Solutions Limited and qualifies as a Competent Person under the Act and COMEG guidelines. Ms. Adeyemi is responsible for the PFS results.

 

FORWARD-LOOKING STATEMENTS

This website may include certain “forward-looking” statements and information pertaining to Red Snow Mines Solutions Limited that are derived from the perspectives of the company’s management, grounded in assumptions and data presently accessible to them.

These statements encompass potential outcomes related to exploration, development, and production activities for tin, copper, zinc, columbite-tantalum, and associated minerals, but are subject to inherent risks, uncertainties, and assumptions. Such factors include, but are not limited to:

  • Geological and operational risks specific to vein-style tin-copper mineralization and alluvial deposits

  • Capital expenditure and funding dependencies for small-scale mechanized mining

  • Macroeconomic conditions in Nigeria and global commodity markets

  • Fluctuations in tin, copper, and zinc prices, alongside naira exchange rate volatility

  • Challenges in securing skilled artisanal and technical personnel in Plateau State

  • Adequacy of working capital for ongoing exploration and processing plant operations

  • Land tenure issues and compliance with Community Development Agreements in mining communities

  • Environmental, health, and safety hazards associated with cassiterite processing and tailings management

  • Political, regulatory, and fiscal changes under the Nigerian Minerals and Mining Act

  • Conflicts with artisanal and small-scale miners (ASM) prevalent in Plateau State

  • Infrastructure limitations, including power supply and road access to remote mining districts

  • Relationships with local cooperatives, joint venture partners, and the Plateau State Ministry of Mineral Resources

  • Permitting delays with the Mining Cadaster Office

  • Seasonal impacts of the rainy season on alluvial mining operations

  • Technological challenges in beneficiation of complex tin-copper ores

  • Adherence to responsible mining standards and conflict mineral traceability requirements

  • Unforeseen events such as communal land disputes, banditry in the Middle Belt region, or force majeure

If any of these risks materialize, evolve, or if underlying assumptions prove inaccurate, actual outcomes may differ substantially from those anticipated.

Red Snow Mines Solutions Limited disclaims any duty to revise or update forward-looking statements or information, except as mandated by applicable Nigerian securities laws or regulatory requirements.