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The Eagle Group Officially Closes On Mine - American Fluorspar

The Eagle Group Officially Closes On Mine

June 2021

The Eagle Group and its Eagle Minerals West division announced that they have officially closed on the purchase of a group of 20 fluorspar mining claims, commonly referred to as the “Blowout” Mine. Mining operations are expected to commence in August of this year.

“Blowout is one of just a select few locations in the US in which fluorspar and other critical minerals are mined,” stated Eagle Group Managing Partner Ron Reeser. “Fluorspar is an incredibly essential mineral in that it is used in many areas of manufacturing including renewable energy and electric vehicle battery technology, two extremely hot markets.”

Eagle Minerals West recently completed an initial review of its Blowout claim, which included a “Geologic Site Report” by Global Resource Engineering. This study now indicates the presence of at least 450,000 tons of economically viable fluorspar in just the first three target mining zones on the property.

Eagle Group CFO Neil Paine added, “Based on the disruptions in the global supply chain, being able to mine fluorspar in the U.S. is very important to us as a country and is a key component of our mining portfolio. We were very pleased that our initial geology study confirmed fluorspar amounts significantly in excess of our underwriting. Eagle will be delivering gold, silver, fluorspar and other precious metals and critical minerals as part of our diversified mining portfolio. We believe this makes for a very intriguing alternative investment opportunity for our partners and investors”. Eagle Minerals West and mining operations partner, Iron River Mining, anticipate launching mining operations in August of this year.

For more information on this exciting development or to learn more about intriguing alternative investment opportunities, please visit theeaglegroup.com or contact us at investorrelations@theeaglegroup.com or call 1-800-889-1906.

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