Corporate Update

15 February 2022

Corporate Update

Cloudbreak Discovery PLC (“Cloudbreak” or the “Company”) (LSE: CDL) is pleased to provide a corporate update and summary of the activities undertaken in the eight months since the Company’s listing on the Main Market of the London Stock Exchange, in June 2021.

Cloudbreak has been successfully executing its project generator model across the resource sectors, with 13 of 17 projects in its growing portfolio being advanced by partners. Investors in Cloudbreak have exposure to in excess of CAD$5 million of exploration expenditures being incurred by our partners in the coming 12 months.

Key highlights include:

The Northwest Portfolio

  • Five polymetallic projects have been generated and staked in Northwestern British Columbia (“BC”) representing over 45,000 hectares of mineral tenures
  • Successfully confirming mineralisation across the portfolio during our phase one exploration programme
  • The Yak and Atlin West projects have been optioned to partners who are spending a total of CAD$0.3 million in the coming year
  • Ongoing negotiations with potential partners on the remaining projects within the portfolio

Strategic Alliance

Cloudbreak entered into a strategic alliance with Alianza Minerals Ltd (“Alianza”) (TSX-V: ANZ) for the identification and advancement of copper projects in the Southwestern United States. The alliance has allowed Cloudbreak to leverage Alianza’s extensive experience through the region and has resulted in several early success including:

  • The acquisition of the Klondike and Stateline projects in the Paradox basin, both of which are targeting sediment hosted copper exploration opportunities
  • A successful exploration programme on Klondike which identified over six kilometers of mineralised structures and grab samples including 6.3 per cent copper and 23.3 grams per tonne silver in outcrop, demonstrating the potential of the geological system
  • A partnership with the well-financed Allied Copper Corp. (“Allied Copper”) (TSX-V: CPR) on both the Klondike and Stateline projects to advance the assets, adding considerable potential upside to the Cloudbreak portfolio
  • Cloudbreak continues to work actively with Alianza to develop the strategic alliance

Portfolio Update and Outlook

Cloudbreak continues to execute significant initiatives in North America and West Africa, its two core geographical areas of focus. Cloudbreak’s primary corporate focus remains on early stage and large regional exploration packages.

North America

Cloudbreak’s partners have been actively exploring projects that it has previously optioned or sold.

In British Columbia, Norseman Silver Corp. (“Norseman”) (TSX-V NOC) has executed exploration programmes on three of the four projects Cloudbreak generated for its portfolio. Currently, Norseman has results pending from drilling at Silver Vista and is awaiting results on the Caribou project. It is also anticipating results from a programme designed to refine the geochemical trend on the Silver Switchback project.

Temas Resources Corp. (“Temas”) (CSE: TMAS) is actively advancing the La Blache Titanium Oxide (TiO2) project in Quebec, Canada, through a Preliminary Economic Assessment, as well as growing its assets base through a farm-in on the advanced Piskanja borates project in Serbia. Temas has also acquired the intellectual property of a suite of proprietary metallurgical process.

Buscando Resources Ltd., Moonbound Mining Ltd. And Calidus Resources Corp. have all filed preliminary prospectuses to list on public exchanges in Canada.

Allied Copper is preparing plans to drill both the Stateline and Klondike projects.

Finally, Imperial Helium Corp (TSX-V: IHC) has completed three wells and testing has been completed on two wells on the Steveville asset in Alberta, Canada, with guidance that it will be producing helium later this year.

West Africa

Cloudbreak is making progress in Côte d’Ivoire, West Africa, where it is currently  generating base and precious metals projects through partnerships with local prospectors. The Company will update shareholders on this prospect in due course.

The Company sees benefit in maintaining flexibility within its business model. The strength of the team across the technical and financial disciplines has afforded Cloudbreak the ability to access more advanced mineral assets. To that end, the Company has been actively reviewing complementary business streams that have the potential to build ongoing value, including royalties which are generated or acquired, and opportunities to spin out assets at the appropriate time.

Cloudbreak’s key commodities of focus will continue to be copper, lithium and precious metals, whilst also considering lead, zinc and industrial minerals, if the Company sees opportunities that represent value creation potential to Cloudbreak shareholders. Many of these commodities are integral to the decarbonisation of energy sources and thus have an extremely strong demand outlook in the coming years.

Kyler Hardy, President and CEO of Cloudbreak, commented, “There is currently a fundamental shift taking hold in the metals and energy sectors which will result in increased consumption of critical metals globally. Cloudbreak’s portfolio and strategy positions us at the vanguard of this shift and enables our shareholders to benefit from the changing dynamics within the metals and mining sectors. Our multi-asset approach, targeting a range of commodities across different jurisdictions, also significantly reduces shareholder risk. I am extremely excited about the coming year and look forward to updating the market in due course.”

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

Qualified Person

Mr. Rory Kutluoglu P. Geo., Chief Operation Officer of the Company, is the Qualified Person (“QP”) under NI 43-101 for the technical information in this news release, has verified the data disclosed and approves the technical contents contained in this news release.


For additional information please contact:

Cloudbreak Discovery PLC Tel: +1 604 428 9480   
 Kyler Hardy,
Novum Securities (Financial Adviser)Tel: +44 7399 9400 
 David Coffman / Lucy Bowden 
Shard Capital Partners (Broker)Tel: +44 207 186 9900   Damon Heath / Isabella Pierre 
Blytheweigh (Financial PR/IR-London)Tel: +44 207 138
 Tim Blythe Megan Ray 
Stellium Services (Investor Relations)Tel: +44(0)207 129
www.StelliumServices.comAndrew Wilson 
 Claire Bowden 

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC, is a leading natural resource project generator, working across a wide array of mineral assets that are being developed and managed by an experienced team with a proven track record. Value accretion within the projects being developed by Cloudbreak’s generative model enables a multi-asset approach to investing and exploration. Diversification within the mining sector and amongst resource classes is key to withstanding the cycles of natural resource investing.

Cloudbreak Discovery • LON: CDL

Building a Dynamic Natural Resource Project Generator & Royalty Company