HALIFAX, Nova Scotia, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Morien Resources Corp. ("Morien" or the "Company") (TSX-V: MOX) is pleased to announce the identification and advancement of the Lazy Head Aggregate Project ("Lazy Head" or the "Project") in the Municipality District of Guysborough (the "MODG"), Nova Scotia - the first project to emerge from Morien's strategic partnership with Carver Companies, LLC ("Carver"), a private U.S. based producer and distributor of construction aggregates.
Lazy Head contemplates the development of a high-quality aggregate quarry and associated marine terminal along Chedabucto Bay in the MODG, designed to serve the U.S. east coast aggregate market. The Project marks a significant milestone in the Carver-Morien strategic partnership, initiated in 2024 to identify, permit, and develop long-life, export-oriented aggregate opportunities in Atlantic Canada, leveraging on Morien's regional expertise and longstanding relationships in the region.
The Project is expected to create approximately 75 high-paying local jobs and support long-term, sustainable operations over multiple generations, while contributing sustained economic benefits to the surrounding communities. Morien and Carver are establishing a suite of community benefit-sharing frameworks to ensure that the economic and social value of the Project is shared broadly across the immediate MODG region.
Permitting efforts are being led by GHD Group, focused on securing the required approvals for the Project, with Rightsholder and community engagement supported by Strum Consulting. Current field programs include environmental baseline studies, marine and terrestrial surveys, and ongoing engagement with Rightsholders, fisheries groups, local businesses, and all levels of government. Recent outreach has included a well-attended community open house and direct, door-to-door meetings with nearby residents.
As additional studies are completed to support Lazy Head's resource potential, environmental stewardship, and socio-economic contribution, results will be released publicly. Notably, Carver has committed to adapting advanced noise and dust control systems at Lazy Head, incorporating warehouse-style enclosures and acoustic treatment technology to minimize dust, noise, and light emissions from operations.
Under the terms of the partnership agreement, Morien will receive a milestone payment upon successful permitting of the Project, and an industry-competitive production royalty on future aggregate sales. All of Morien's time and expenses associated with advancing Lazy Head are being reimbursed by Carver, consistent with Morien's capital-efficient, partner-driven business model focused on building a diversified royalty portfolio.
About Carver Companies
Founded in 1988, Carver Companies is a privately held, U.S. based logistics, infrastructure and materials group employing more than 1,000 people across its operations in the U.S. and Canada. The company owns and operates a granite quarry in Bayside, New Brunswick, multiple deep-water marine terminals, tug and barge services, stevedoring, warehousing, and project-cargo solutions along the Atlantic and Gulf Coasts. Carver enables efficient movement of bulk and breakbulk materials to major growth markets, supporting public and private customers across construction, energy and industrial supply chains. Learn more at www.carvercompanies.com.
About Morien
Morien is a Nova Scotia based, mining development company created in 2012 to be a vehicle of direct prosperity for Nova Scotians, its largest shareholder group. Led by Nova Scotians, Morien's primary assets are a royalty on the sale of coal from the Donkin Mine in Cape Breton, Nova Scotia, and a royalty on the sale of aggregate from the permitted Black Point Project, in Guysborough County, Nova Scotia. Morien's management team exercises ruthless discipline in managing both the assets and liabilities of the Company. The Company's management and its Board of Directors consider shareholder returns to be paramount over corporate size, number or scale of assets and industry recognition. The Company has 51,292,000 issued and outstanding common shares and a fully diluted position of 53,992,000. Further information is available at www.MorienRes.com.
Forward-Looking Statements
Some of the statements in this news release may constitute "forward-looking information" as defined under applicable securities laws. These statements reflect Morien's current expectations of future revenues and business prospects and opportunities and are based on information currently available to Morien. Morien cautions that actual performance will be affected by a number of factors, many of which are beyond its control, and that future events and results may vary substantially from what Morien currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include risks and uncertainties described in documents filed by Morien with the Canadian securities regulators on SEDAR+ (www.sedarplus.com) from time to time. Morien cautions that its royalty revenue will be based on production by third party property owners and operators who will be responsible for determining the manner and timing for the properties forming part of Morien's royalty portfolio. These third party owners and operators are also subject to risk factors that could cause actual results to differ materially from those predicted herein including: volatility in financial markets or general economic conditions; capital requirements and the need for additional financing; fluctuations in the rates of exchange for the currencies of Canada and the United States; prices for commodities including coal and aggregate; unanticipated changes in production, mineral reserves and mineral resources, metallurgical recoveries and/or exploration results; changes in regulations and unpredictable political or economic developments; loss of key personnel; labour disputes; and ineffective title to mineral claims or property. There are other business risks and hazards associated with mineral exploration, development and mining. Although Morien believes that the forward-looking information contained herein is based on reasonable assumptions (including assumptions relating to economic, market and political conditions, the Company's working capital requirements and the accuracy of information supplied by the operators of the properties in which the Company has a royalty interest), readers cannot be assured that actual results will be consistent with such statements. Morien expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. All dollar values discussed herein are in Canadian dollars. Any financial outlook or future-oriented financial information in this news release, as defined by applicable securities laws, has been approved by management of Morien as of the date of this news release. Such financial outlook or future-oriented financial information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such outlook or information should not be used for purposes other than for which it is disclosed in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Dawson Brisco, President & CEO
Phone: (902) 403-3149
dbrisco@MorienRes.com
or
John P.A. Budreski, Executive Chairman
Phone: (416) 930-0914
www.MorienRes.com
