Mr. Sean Cleary reports

STRATEGIC RESOURCES AND TYFAST ENERGY SIGN MOU TO BUILD A CANADIAN VANADIUM-TO-BATTERY PATHWAY FOR HEAVY-DUTY ELECTRIFICATION

Tyfast Energy Corp. and Strategic Resources Inc. have signed a memorandum of understanding (MOU) to evaluate a Canadian supply pathway for battery-grade vanadium oxide and its use in Tyfast's lithium vanadium oxide (LVO) anode material. The collaboration is intended to connect Canadian vanadium resources with downstream battery material qualification and help establish a more resilient North American supply chain for high performance batteries used in demanding industrial and defence applications.

Highlights

• Memorandum of understanding signed to evaluate battery-grade vanadium oxide derived from Canadian mined ore for qualification in Tyfast's LVO anode.
• Strategic Resources will evaluate feedstock and processing pathways from its vanadium assets; while Tyfast will lead material qualification, anode development and application testing.
• The collaboration is aimed at heavy-duty mining, defence and other high-uptime off-road platforms where fast charging, durability, and cold-weather performance are critical.

Commercial rationale

The parties are pursuing this collaboration as mining and other industrial operators seek battery technologies that can deliver diesel-like uptime with lower operating cost and lower emissions. At the same time, governments and OEMs (original equipment manufacturers) are placing greater emphasis on secure, regional critical minerals supply chains. A Canadian battery-grade vanadium could help address both priorities.

Collaboration scope (MOU)

Under the MOU, the parties intend to (i) define target specifications and qualification criteria for battery-grade vanadium oxide from primary mined ore; (ii) conduct bench- and pilot-scale work to optimize powder characteristics for Tyfast's LVO anode production; and (iii) evaluate commercialization and deployment opportunities in mining equipment, auxiliary vehicles, defence platforms, and other heavy-duty applications.

Why Tyfast and Strategic Resources are complementary

The collaboration is expected to evaluate how vanadium from Strategic Resources' permitted mine in Canada can be upgraded into battery-grade vanadium oxide integrated into Tyfast's proprietary LVO anode platform. This positions the relationship around an upstream-to-downstream battery materials pathway in Canada, distinct from conventional raw-material supply arrangements.

Heavy-duty fleets operate under demanding duty cycles, harsh climates and high uptime requirements. Tyfast's LVO anode is designed for these conditions, with a performance profile intended to support rapid charging, long service life and improved operating reliability in severe environments.

Tyfast's LVO anode technology is designed to deliver performance attributes that matter in heavy-duty applications, including:

• Fast charging to support higher equipment utilization and shorter charging downtime;
• Long service life to reduce replacement frequency and maintenance interruptions;
• Robust performance in cold-weather operations common across Canadian mine sites;
• Improved safety and reliability relative to conventional graphite-based anodes.

By combining critical minerals development with advanced battery materials, the parties aim to support a lower-total-cost pathway to heavy-duty electrification while strengthening domestic manufacturing capability and supply-chain resilience.

"Canada has the mineral resources and industrial base to become a leader in next-generation battery materials for heavy duty," said GJ la O', chief executive officer of Tyfast. "By working with Strategic Resources to qualify battery-grade vanadium oxide from Canadian mined ore, we are building a more differentiated supply chain for our LVO anode and advancing a practical pathway to electrify mining and defence platforms that demand fast charging, durability and high uptime."

"This MOU is about moving further up the value chain in Canada," said Sean Cleary, chief executive officer of Strategic Resources. "Our permitted mine brings vanadium resource potential and project development capability, and Tyfast brings a compelling downstream battery application. Together, we see an opportunity to create a made-in-Canada pathway from critical minerals to advanced battery materials for high-value industrial markets."

The parties believe this collaboration aligns with Canadian priorities on critical minerals, value-added manufacturing, industrial competitiveness and emissions reduction. Establishing a pathway from mined vanadium to battery-grade materials and advanced anode production could help position Canada more strongly in the emerging heavy-duty battery value chain.

About Strategic Resources Inc.

Strategic Resources is a critical mineral development company focused on high-purity iron, vanadium and titanium; metals needed to decarbonize the global economy. The company's main projects are the construction-ready BlackRock project in Quebec and the previously operated Mustavaara mine in Finland. Phase 1 of the BlackRock project envisages a four-million-tonne-per-year high-purity iron ore pelletizer at Port Saguenay, Que., with full access to the St. Lawrence Seaway. The company's head office is in Montreal, Que.

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