South Star Battery Metals Corp. Outlines 2023 Highlights and 2024 Outlook

South Star Battery Metals Corp. ("South Star" or the "Company"), a prominent player in the battery metals sector, shared a comprehensive review of 2023 and an update on its strategic initiatives for 2024. Highlights include advancements in its Santa Cruz and BamaStar projects, alongside a notable 75% reduction in corporate income tax under the Brazilian SUDENE program for a decade.

Despite challenges in the equity markets, South Star's performance surpassed major indices with a 36% return in 2023, placing it atop the graphite stock segment. The Company progressed from a development stage to initiating graphite mining and processing in the Americas, marking a significant industry milestone since 1996. However, construction delays impacted the Santa Cruz Phase 1 timeline, now slated for substantial completion by mid-2024.

On the financial front, South Star concluded 2023 with C$6.5M in cash reserves, zero debt, and a structured plan towards positive cash flow. The Company's Sprott Streaming Agreement guarantees around 50% of Santa Cruz's Phase 2 capital expenditure, with further advancements in license approvals and project development underscored.

Regarding the BamaStar Project in the U.S., South Star completed multiple drilling campaigns and issued a maiden resource estimate, moving closer to a Preliminary Economic Assessment expected to finalize shortly. These developments support South Star's strategic vision to establish vertical integration and diversified product offerings in high-quality graphite concentrates for industrial and battery sectors.

Moreover, South Star anticipates pivotal milestones in 2024, emphasizing the transition to production phases at Santa Cruz and advancing the BamaStar Project. The Company remains committed to sustainable operations, community engagement, and delivering value across its stakeholder spectrum.