Celsius Resources Limited announced the approval of the Five-Year Social Development and Management Program of the Sagay Copper Project held under its Philippine subsidiary, Tambuli Mining Company Inc. located at the Island of Negros in the Philippines. The Philippine Mines and Geosciences Bureau (MGB) issued the Certificate of Approval, dated 18 June 2024 and which Celsius received late last week, attesting that the document has satisfactorily met the requirements, in form and substance, based on the guidelines of the Implementing Rules and Regulations of RA No. 7942, otherwise known as the Philippine Mining Act of 1995.

The SDMP was submitted to the MGB as one of the requirements under the Sagay Project's Declaration of Mining Project Feasibility (DMPF) application, along with other technical and environmental plans and programs. The issuance of the SDMP Certificate of approval underscores the national Government's strong support to the Project and the Philippine mining industry in general. This also reflects the alignment of initiatives with national development goals and reinforces the dedication to sustainable and responsible mining practices. The SDMP is a comprehensive five-year plan for the "sustained improvement in the living standards of the host and neighboring communities through programs, projects, and activities geared toward creating responsible, self-reliant, and resource-based communities and the development of science and mining technology".

It was developed in consultation with the host community and the local Government unit in line with their local development plans and programs. Creditable programs, projects and activities under the SDMP include: Human Resource Development and Institution-Building; Enterprise Development and Networking; Infrastructure Development and Support Services; Access to Education and Educational Support; Access to Health Services, Health Facilities and Health Professionals; Protection and Respect for Socio-Cultural values; Information, Education, and Communications; and 8) Development of Mining Technology and Geosciences. The approved five-year SDMP budget is computed as 1.5% of the projected operating cost, as stated within the certificate of approval. An updated Mineral Resource estimate (MRE) was announced on 6 February 2024 comprising of a combined measured, indicated, and inferred Mineral Resource of 312 million tonnes @ 0.39% copper and 0.11 g/t gold.