Radiant Announces Memorandum of Understanding with Idaho Strategic Resources

Joint Collaboration to Aid Radiant with the Development and Potential Deployment of Kaleidos – A Meltdown-Proof Microreactor Expected to Service Remote Mine Sites.

May 8, 2024

May 8, 2024 – Idaho Strategic Resources, Inc. (NYSE American: IDR) (“IDR”, “Idaho Strategic” or the “Company”) today announced it has entered into a memorandum of understanding (MOU) with Radiant Industries, Inc. (“Radiant”) to participate in the Kaleidos Frontier Pilot Program designed to aid Radiant in the development and planned deployment of their meltdown-proof portable microreactor, Kaleidos. The agreement establishes a pathway for Idaho Strategic and Radiant to operate one or more of the first five Frontier Kaleidos units at a viable Idaho Strategic site. As part of the agreement, the two companies agree to jointly study the licensing process and timeline, and other business and operations factors relevant to the deployment of a Kaleidos unit.

Mass-produceable, transportable by air, sea, road or rail and roughly the size of a shipping container, Radiant’s Kaleidos unit is designed to replace diesel generators with clean, cost-effective base-load power in remote and hard-to-reach locations, including those operated by Idaho Strategic. Cooled by Helium, which cannot become radioactive, Kaleidos can output 1 MWe electric and 1.9 MWt of heat and operate for an average of 5 years before refueling with meltdown-proof TRISO fuel.

Idaho Strategic’s President and CEO, John Swallow commented, “Since I first met Doug and Tori in November of 2022, I have been looking for a way for our two companies to support one another. I appreciate their commonsense approach to business and their ability to think big and move quickly. Through IDR’s recent work with various government and national laboratory personnel, some of whom also work with Radiant, a common thread has emerged centered around what the future of mining could look like. And while I hold the belief that the future of mining will rhyme with the past, I believe Radiant’s Kaleidos reactor addresses a specific pain point faced by many mining operations in a viable and sustainable way.”

Radiant’s CEO Doug Bernauer added, “Idaho Strategic’s work in the mining industry is a perfect case for the value Radiant’s safe, portable microreactor provides to industry. Operations like those we saw in 2022 at Golden Chest not only create valuable economic promise for U.S. domestic mineral production, but they provide important livelihoods to the communities they employ, and those communities are the direct beneficiaries of clean power solutions that enable their work.”

As part of the competitive U.S. Department of Energy (DOE) FEEED program, Radiant is building towards a test at Idaho National Laboratory (INL) in 2026, with their first commercial reactors available as soon as 2028. In addition to support from INL and DOE, Radiant has received support from the U.S. Department of Defense.

About Idaho Strategic Resources, Inc.

Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also owns the largest rare earth elements land package in the United States. The Company’s business plan was established in anticipation of today’s volatile geopolitical and macroeconomic environment. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for rare earth elements exploration and development in one Company.

For more information on Idaho Strategic Resources click here for our corporate presentation, go to www.idahostrategic.com