info@contangoore.com Developing Alaska's Next Gold Mines www.contangoore.com NYSE-A: CTGO FAIRBANKS, AK Fall 2023 The Alaska Miner 57 ton, DC, in mid-July. "For example, the Red Dog Mine produces 4% of the world's zinc, a commodity that is on the latest list of critical minerals. That mine is also North America's largest producer of germanium, another critical mineral that has been in the news lately for its role in advanced technology applications." Germanium's headline-grabbing notoriety came when China let the world know it is placing state-controlled restrictions on the exports of this semiconductor metalloid used in fiber optics, solar panels, and quantum computers starting on Aug. 1. China is also curbing the exports of gallium, another semiconductor that is critical to manufacturing the computer chips that go in everything from laptops and automobiles to refrigerators and toys. It was more by providence than design that policymakers and business leaders at both the state and federal levels convened in the nation's capital for a two-day summit to advance Alaska's critical mineral policy recommendations as the China semiconductor metals ban story was unfolding. During this Critical Minerals in the Arctic summit, Sen. Lisa Murkowski, R-Alaska, talked extensively about Alaska's potential to break America's dependence on critical mineral imports and what that could mean for the Far North State. Referring to the enormous stores of oil and gas on Alaska's North Slope that have driven Alaska's economy for the past five decades, she said, "I think minerals could be our next Prudhoe – I think it could be a huge economic engine for our state that can help provide resources that our country needs to compete in this 21st century." When it comes to the natural resources America needs to compete in the 21st century, the minerals, and metals critical to lithium-ion batteries are currently very high on the list. "The United States depends on unreliable foreign sources for many of the strategic and critical materials necessary for the clean energy transition – such as lithium, nickel, cobalt, graphite, and manganese for large-capacity batteries. Demand for such materials is projected to increase exponentially as the world transitions to a clean energy economy," President Joe Biden penned in a 2022 memorandum directing the Pentagon to utilize Defense Production Act Title III funding to support sustainable and responsible domestic production of strategic and critical minerals. DOD invests in Graphite One As part of its White House-directed critical minerals mission, the Pentagon announced in mid-July that it is investing $37.5 million to support the accelerated completion of a feasibility study for Graphite One's envisioned domestic advanced graphite supply chain solution anchored by Graphite Creek, a project about 35 miles north of Nome, Alaska, that hosts the largest known graphite deposit on American soil. "This Department of Defense grant underscores our confidence in our strategy to build a 100% U.S.-based advanced graphite supply chain – from mining to refining to recycling," said Graphite One CEO Anthony Huston. "The U.S. simply cannot maintain a 21st century tech-driven economy without critical minerals like graphite." CONTINUED on PAGE 58
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