Themac Resources Group Limited Announces New Mexico State Engineer's Decision on Santa Teresa Water Transfer

Core Viewpoint - Themac Resources Group Limited has received a decision from the New Mexico State Engineer denying its application for the transfer of water rights for the Copper Flat Project, prompting the company to explore alternative water management solutions [2][3]. Group 1: Water Rights Application - Themac entered into an agreement in April 2019 to lease 2,400 acre-feet of Santa Teresa water rights for the Copper Flat Mine [1]. - An application to change the point of diversion and the purpose of use was filed in August 2019, with an administrative hearing held in August 2023 [1]. Group 2: Decision and Next Steps - The New Mexico State Engineer has denied the application, and the company is currently reviewing the decision and considering its next steps [2]. Group 3: Alternative Water Management Solutions - Themac has been investigating alternative options for more economically favorable and sustainable water management systems that would eliminate the need for Santa Teresa water rights [3]. - One of the options being evaluated is dry stack tailings technology, which aims for safer and more sustainable waste management at the Copper Flat site, with feasibility studies at an advanced stage [3].