Valory Resources Still Plans to Move Ahead with The Blackstone Mine - a Timeline
1945 Blackstone Property first mapped by Geologic Survey of Canada
1971 Mesa Petroleum conducted initial exploration drill holes
1972-1979 Property acquired by Clearwater Coal Limited Extensive exploration campaign comprised 43 drillholes, 8 boreholes and bulk samples
2007 Kennecott acquired current Blackstone Lease applications and completed further coal exploration boreholes
2011 Black Eagle Mining acquired lease applications and continued exploration work
2012 Black Eagle Mining completed 68-hole drilling campaign
2018 Resource converted from NI 43-101 to JORC (2012)
2019 Valory Resources launched Pre-IPO funding and completed acquisition of Black Eagle Mining Exploration. Planning and study EIA & mine permitting commenced.
November 27, 2019 Black Eagle Mining Corporation/Valory Resources Inc. apply for approval to conduct Coal Exploration Program (CEP) during the 2019-2021 period.
December 4, 2019 Supplemental Information Request (SIR) filed by AER
December 4, 2019 SIR responses filed by Lorrnel (on behalf of Black Eagle/Valory)
December 9, 2019 Revised CEP application submitted by Black Eagle Mining Corporation/Valory Resources Inc.
Dec 2019 - Jan 2020 Statements of Concern submitted by Blood Tribe / Kainai Nation, Whitefish (Goodfish) Lake First Nation, and Ermineskin Cree Nation (ECN)
February 26, 2020 Authorization issued by AER for CEP190008
June 1, 2020 1976 Coal Policy Rescinded
February 8, 2021 1976 Coal Policy Reinstated
March 29, 2021 Coal Policy Committee established
April 23, 2021 Coal exploration activity on Cat 2 lands paused
December 1, 2021 Coal Policy Committee release final report
March 2, 2022 Moratorium on existing exploration approvals
January 24, 2023 Black Eagle (the subsidiary owned by Valory Resources) filed a lawsuit against the Government of Alberta claiming $1.75 Billion in damages due to changes in Coal Policy
December 20, 2024 Coal Industry Modernization Initiative (CIMI) announced
January 15, 2025 Coal moratorium lifted
January 20, 2025 Letter from AER to Black Eagle / Valory and SOC filers stating that they were considering lifting the suspension and extending the expiry date as per the ministerial order, and asking SOC filers to provide written submissions if they believe the AER should refuse (deadline for submissions was Jan 24).
January 28, 2025 Letter from AER to Black Eagle / Valory detailing decision to revoke previous suspension and extend the expiry dates: CEP extended to Nov 25, 2025 (reclamation to Nov 24, 2028) and Deep Drilling Permit to Nov 25, 2026.
July 14, 2025 Application for approval to amend conditions in approval of CEP190008 Amendments included request to remove conditions not related to CEP, and to extend the CEP expiry date to November 25, 2026 to align with the Deep Drilling Permit expiry date.
August 15, 2025 CPAWS Northern Albertasubmitted a Statement of Concern detailing potential additional impacts of extending the CEP expiry date.
September 18, 2025 AER decision to dismiss CPAWS SOC and not to hold a hearing. Coal Exploration Program (CEP190008) amendments approved.
October 16, 2025 Valory announces former Conservative Party Leader, Candice Bergen joins the board of directors at Valory Resources Inc. (Valory) and intention to continue with the Blackstone Mine despite undisclosed settlement with Government of Alberta
