Borealis Mining Receives U.S. Forest Service Approval for Permit Modification; Prepares for Mine Restart in Q1 2026

Core Viewpoint - Borealis Mining Company has received approval from the U.S. Forest Service for a minor modification to its operational plan, enabling the restart of the Borealis Gold Mine in Q1 2026, marking a significant regulatory milestone for the company [1][4]. Group 1: Permit Modification and Project Area - The approved minor modification allows for expanded mining activities in several pits, development of new waste rock facilities, reconfiguration of existing waste facilities, and construction of new roads, adding approximately 68.3 acres of disturbance, bringing the total project area to 549.7 acres [2]. Group 2: Mine Restart Preparations - The company is preparing for a full mine restart in Q1 2026, with contractor mobilization expected to begin in December, followed by drilling and blasting activities in early January. Additional preparatory works include slope angle adjustments, hiring personnel, and conducting geotechnical works [3]. Group 3: Financial and Operational Readiness - Borealis is fully financed for the restart through existing working capital and revenues from its ongoing stockpile crushing program. The company is debt-free and ready to generate significant revenues for shareholders [4][6]. Group 4: Ongoing Operations - The company continues its stockpile and leaching program, with the ADR plant operational and generating gold and silver recoveries during the pre-restart phase, aimed at ensuring a smooth transition to steady-state operations [5]. Group 5: Mine Property and Exploration Potential - The Borealis mine property is fully permitted and equipped for operations, having historically produced over 600,000 ounces of gold. The property has high-grade expansion potential with excellent historical drilling results and several untested regional targets [7][8]. Group 6: Company Overview - Borealis is focused on the exploration and resumption of production at the Borealis Mine and advancing its Sandman project in Nevada. The company holds approximately 16,300 acres of mining claims and is led by a strong management team with a successful track record in the mining industry [9].