The Mirdita Project

Tirex Explorations is a Canadian based mining Company whose primary objective is the exploration and development of the Mirdita Project in northern Albania. The Mirdita Project is located in the traditional Albanian copper mining district, approximately 70 km north of Tirana, near Munelle Mountain and the towns of Reps and Rreshen.

Exploration and mining has been ongoing in the Mirdita area since before 1950, with a focus on copper. However, there has been little investment in the Albanian mining industry in recent years. Unfortunately, past activities have resulted in a number of abandoned mine sites, mills and waste dumps. This has had a detrimental effect on the local environment, including water quality. Tirex has no liability for these sites; however, if mining proceeds, they intend to work towards remediation and improved environmental health.

Headlands was the lead consultant for the environment, health and safety and community engagement for the Mirdita Project.

As part of these responsibilities, Headlands prepared, tracked, implemented and actioned the Environment and Social Action Plan (ESAP) and Additional Technical Action Plan (ATAP) for the European Bank for Reconstruction and Development (EBRD) and reported to the EBRD on a monthly basis.

Vancouver-based junior explorer advancing the district-scale Mirdita project in Albania, with a long-term financial partnership with the European Bank for Reconstruction and Development (EBRD) that comes with sufficient money to keep Tirex safe from the markets and focused on drilling.

EBRD has signed on to provide Tirex with 6 million through a convertible loan, available in three equal tranches. The first tranche will be available immediately. The second and third tranches will be available at Tirex’s request but have to be met by equal equity raises, which will bring the total money raised to 10 million (approximately $15 million).

The EBRD was established in 1991 to support private sector business in emerging economies within eastern Europe and central Asia. The bank is now the single largest investor in the region, having invested 5.6 billion in 2007 alone in its biggest year of investments. The bank is owned by 61 countries and two intergovernmental organizations and invests mainly in private enterprises.

To date the EBRD has invested in over 40 projects in Albania, with a net business volume of over 400 million. The agreement with Tirex, however, marks EBRD’s first investment in the Albanian natural resource sector.

Tirex is exploring the 344-sq. km Mirdita property in north-central Albania. The property is highly prospective for volcanogenic massive sulphide (VMS) mineralization; VMS deposits can be rich in copper, gold, silver, lead and zinc.

2008 – 2018

Tirex Resources Ltd.

Tirana, Reps, Rreshen, Mirdita, Albania

Lead consultant and manager for Environment, Health and Safety, Community Engagement and Technical Reporting.

Liaison for the EBRD on the ESAP and ATAP.

Headlands Environmental Inc.