Idaho Strategic Announces Memorandum of Understanding with Radiant Industries Frontier Program

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

COEUR D'ALENE, ID / ACCESSWIRE / May 8, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") today announced it has entered into a non-binding 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-producible, 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. 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 TRISO fuel.

Idaho Strategic's President and CEO, John Swallow commented, "When we first met Doug and Tori in November of 2022, their commonsense approach to business resonated with us. I was intrigued by Doug and Radiant's origin story and views on the future of microreactors, remote sites, etc. In short, it was a situation where I wasn't sure of the timing but always felt that our companies would one day work together. And it seems appropriate that officially working together coincides with the noticeable advancement of our country's efforts toward securing domestic critical mineral supply chains and the advancement of IDR's nationally recognized rare earth element properties (and increasing gold production at the Golden Chest). 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."