Broadway Strategic Metals Historical Presentation with the Republic of Panama to Restart the Molejón Gold Mine and the Construction of Precious Metals Refinery

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May 18, 2021

Broadway Strategic Metals Inc. (Broadway) and its entire management team are absolutely pleased with the official announcement of the historic presentation between government of the Republic of Panama government and the company. We want to thank the government of the Republic of Panama for the trust placed in the company and reaffirm to the country our commitment to integrate the community, generate new income to the government, and implement the highest environmental standards.

As a demonstration of our level of commitment, Broadway will provide a payment of US $30,000,000 million (Thirty Million US Dollars) to help solve a significant part of the legacy problems of the former Molejón gold mine. The priority of this payment will be to address contributions to the Caja de Seguro Social, labor benefits, and royalties that remain outstanding.

Broadway aims to integrate the community so they can enjoy the benefits of the reactivation of this project. These benefits, among other things, include: the creation of approximately 1,000 jobs, technological advances, construction and rehabilitation of public spaces, education programs, health programs, and the commitment to integrate the community into the supply chain through the purchase of food and services locally, allowing the empowerment of the community and improving living conditions.

Broadway also commits to resolve the environmental problems generated by the lack of implementation of a Mine Closure Plan, and to invest approximately US$200,000,000.00 (Two Hundred Million US Dollars) to restart the Molejón mining project. This will be done in a sustainable and responsible manner through "green mining" techniques that seek efficiency of the use of the extracted resources, correct management of the processes, production with low environmental impact, and the use of the latest technology and environmentally responsible mining techniques. In addition to programs to measure our carbon footprint, bioremediation, reforestation, and wildlife relocation, always adhering to the highest ISO and ESG standards.

Broadway will also invest approximately US$250,000,000.00 (Two Hundred Fifty Million US Dollars) for the construction of a state-of-the-art, world class, gold, and silver processing facility. This facility will become the hub for gold and silver processing, refining, storage, minting, recycling, and banking for Latin America and the world.

The Panama Refinery, designed with cutting-edge technology and the highest environmental, social and governance standards, will attract neighboring Latin American countries and mining companies operating in these countries to safely process and store their natural resources in Panama.

Broadway is fully committed to this historic presentation with the Republic of Panama by fully funding the Panama Refinery and sharing the net profits on a 50/50 basis with the government, looking to achieve fair net benefits to the Republic of Panama and promoting transparency and trust.

Through the reactivation of the Molejón mine, the payment to help solve a significant part of the legacy problems of the former Molejón gold mine, and the creation of the Panama Refinery, Broadway seeks to reinforce Panama's reputation as a "Regional Hub" and leader of development and innovation in Latin America. Broadway is confident that this partnership will bring very favorable results for the country.

The presentation announced by the Minister of Commerce and Industry mark a historic achievement for Broadway, its management team and all stakeholders that have contributed and shown their support.

About Broadway Strategic Metals 

Broadway Strategic Metals is a privately-owned mining company managed by industry veterans with over 100 years of experience in resource exploration & development, risk management, sustainability, technology, job creation, financing, mining, and education. This accumulated experience allows us to offer a socioeconomic perception and understanding of each project, in addition to a Panamanian legal team, community leaders and specialists that offer us a real perspective of the country and its needs. 

On Behalf of the Board of Directors

Duane Parnham, Executive Chairman 

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