Montem Resources Limited announced that the HonorableJonathan Wilkinson, Minister of Environment and Climate Change of Canada has designated the Tent Mountain Mine Re-start Project to undergo a Federal Impact Assessment under subsection 9(1) of the Impact Assessment Act. The Federal Impact Assessment is a timely and effective process but is still likely to delay permitting for the Project, which was schedule to produce first coal in 2023. Environment Canada, through the Impact Assessment Agency of Canada has twice previously reviewed the Tent Mountain Re-start Project and confirmed that it did not meet threshold limits that would trigger a Federal Impact Assessment. In making the determination to designate the Tent Mountain Mine Re-start Project to undergo a Federal Impact Assessment, Minister Wilkinson took into account that the Project may cause adverse effects to the transboundary environments, Indigenous peoples and fish and fish habitat, given the uncertainty related to the effectiveness of proposed measures to avoid deposition of selenium and other deleterious substances. Minister Wilkinson also took into consideration public concerns related to these potential effects and the context that the entire Project is not captured in a single provincial assessment. It is currently unclear how substantial any permitting delay the Federal Impact Assessment will cause to the Project. Montem will continue to monitor the situation and keep the market advised accordingly.