Ann: Quarterly Activities Report, page-4

Hi all, I received the below from the regulator in Canada regarding grassy mountains approval. Is appears we due to an extension request we won’t get ministerial approval for grassy mountains until nov 21. We will get a strong indication though when the report is made public on receipt by the minister in june 21. This coincides with the Atrum PFS. I’m then expecting a big re-rate. This is in addition to the resource update coming this quarter.

Thank you for your question.

The Joint Review Panel Agreement outlines the Terms of Reference and the steps for the environmental assessment process, and can be viewed at the following link: https://www.iaac-aeic.gc.ca/050/evaluations/document/124445?&culture=en-CA (CIAR #80). To summarize, the Joint Review Panel is currently proceeding with Stage 2 – the conduct of the pubic hearing. Following the completion of the public hearing, the Joint review Panel will proceed to Stage 3 which consists of the preparation of a report for submission to the Federal Minister of the Environment. The Joint Review Panel has requested an extension to the timeline for the submission of its report (see ), and should this extension be approved, the report of the Joint Review Panel will be submitted to the Federal Minister of the Environment on June 18, 2021.

Once the report by the Joint Review Panel is received, the Federal Minister of Environment will make the report available to the public and will advise the public thatCIAR #626 the report is available. The timeline for the issuance of the decision statement is 150 days from the submission of the Joint Review Panel’s report. The decision statement will indicate the decision of the Minister of Environment and Climate Change, or the Governor in Council, regarding whether the proposed project is likely to cause significant adverse effects, and whether any significant adverse environmental effects are justified in the circumstances. In other words, the decision statement will outline whether the Minister or Governor in Council will approve or reject the project.

Your email address will be added to the distribution list for the environmental assessment of the Project. If you would prefer not to receive emails regarding the environmental assessment, please send a message to [email protected].

Please let us know if you have any additional questions or concerns.

Best Regards,

Panel Secretariat

Grassy Mountain Coal Project

[email protected]