Context

The political, policy, market, and community conditions for recovering minerals and metals from mine waste are becoming more favorable.

A 2025 study by the Colorado School of Mines found that almost all the US critical mineral needs could be met by targeting waste from mining. They focused on by-products from existing mining operations¹. Governments want to secure domestic supply chains while addressing environmental liabilities of legacy mining. Investors see that balance sheets in the mining industry can be improved by decreasing risk at closed and managed sites. Non-governmental organizations working with communities recognize that policy reforms can help address the impacts from these sites².

Metals recovered from waste are a source of needed minerals. Our enterprise strategy unlocks this value while addressing social and environmental impacts from historical mining.

Government initiatives and policy reforms, such as the US Good Samaritan Remediation of Abandoned Hardrock Mines Act of 2024, create new momentum. While narrowly targeted, this reform creates a path to start addressing mine waste at small, abandoned mines in the US.

As we work with communities we hear a clear message – waste from old mines is an obstacle to new mine development. Addressing historical waste helps the industry and communities.

As a first mover, Regeneration is helping to shape this new environment. We are an enabler, working with government, mining companies, rights holders, communities, off takers, and others to provide responsibly sourced minerals from waste and transform former mine sites into ecological and community assets.

Since our launch in November 2021 we have built a strong foundation as a company.

We have partnerships across the value chain from mining companies like Rio Tinto, to partners like Apple and Mejuri. In 2025, we expanded our project pipeline and invested significant resources in site assessment and development. We have a deep understanding of technologies (conventional and novel) to deploy at our sites and partnerships with preferred technology companies. We have built a world class team and network of local experts and enterprises at our sites and in the regions targeted for future development.

Recognizing that policy innovation is essential to scaling our solution, we are supporting policy reforms in the US, Canada, and Australia. We were instrumental in passing the US Good Samaritan Act. Recently we secured $15 million (CA) in funding from Pacific Economic Development Canada for our Hedley project in BC, Canada. The project is a partnership with the provincial government and is an example of policy innovation to support better outcomes.

With our partner Mejuri, we produced a second exclusive jewelry line with 100% of the gold sourced from our Salmon Gold sites. This jewelry collection helped support ongoing restoration at our sites, with over 44 acres of restored habitat to date.

We are seeing significant growth in our pipeline with a number of projects ready to scale to production and restoration in 2027.

¹ Holley et al. (2025). By-product recovery from US metal mines could reduce import reliance for critical minerals. Science, 389(6767). DOI: 10.1126/science.adw8997
² Remining For BC’s Energy Future: Opportunities, Risks, and the Need for Strong Legal Oversight. (2026). Environmental Law Centre.

About Regeneration

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There are millions of legacy mines globally.

Our solution provides restoration and metals recovery

Active
Projects

We evaluate sites (>150 to date) to identify the best targets and advance projects.

Active Policy
Initiatives

We innovate and influence to help scale our
solutions.

Active
Partners

We collaborate to support our vision and execute our mission.

100

Technology
Solutions

We implement and support technologies that advance reprocessing and restoration solutions

Our Progress

Salmon Gold^TM

Our Salmon Gold program targets habitat degraded by historical mine waste, especially streams with anadromous fish species. We produce gold that supports habitat restoration in partnership with placer miners. Since launching in 2018, Salmon Gold has helped restore over 44 acres of habitat. In 2025, we produced gold from five active sites and restored over 11 acres. This gold is in the supply chain for our partners like Apple. In 2024, Mejuri went a step further, producing the world’s first jewelry collection made from gold exclusively sourced from old mine sites with restoration underway or completed. A second, expanded collection was released in 2025, and another line will drop in 2026. This unique program connects consumers to the communities where metals originate.

Advancing Projects

Our project pipeline grew to over 150 sites. We are constantly evaluating sites to identify the best targets and advance projects. We currently have nine active sites in the evaluation, scoping, feasibility, or operating stages.

In 2025 and 2026, we completed characterization work, including drill programs and material testing, at five sites. They are located in Queensland, Arizona, British Columbia, and the Yukon Territory. These sites are now in advanced stages of planning and development, with production starting to scale in 2027 and 2028.

We have advanced or signed agreements with six mining companies to assess one or more of their legacy sites. Most recently, in February 2026, we entered into an agreement to assess metals recovery and site restoration on a copper gold property in northern Queensland, Australia sponsored by the Queensland government and in partnership with True North Copper.

We have established a methodology for valuing restoration at our sites. We will test this first at our Salmon Gold sites and then apply it to our other projects.

Hedley Project Case Study

The Similkameen Valley lies in southern British Columbia, Canada, within the Traditional territories of the Smelqmix People. Historic mining in the region began in the 1890’s, leaving behind a legacy of tailings and waste materials. The Upper Similkameen Indian Band (USIB) and the town of Hedley are immediately adjacent to a historic mine with tailing waste bordering the Similkameen River.

The Hedley site is an abandoned mine under the responsibility of the Government of British Columbia, Abandoned Mines Branch (AMB). In 2024, Regeneration started working with the AMB to assess the feasibility of recovering valuable critical and precious minerals to support the clean-up and restoration of the site.

We conducted a preliminary characterization program that included geophysical measurements across the tailings, sample collection from 22 drills holes, and groundwater monitoring. Our pre-feasibility study evaluated tailings reprocessing options for metal recovery and restoration including conceptual reprocessing designs, landform engineering and designs, and financial modeling and viability assessments. Work in the coming months will involve confirming the final feasibility of the project, advancing to detailed design, project planning, and execution phases.

Hedley is a keystone Regeneration project. Working with the province, we will address the impacts from historical mining to bring benefits to USIB and the boarder community. The Government of Canada is supporting the project with a commitment of up to $15 million in funding from Pacific Economic Development Canada.

Policy

Regeneration is working with leading policy experts and government officials to develop policy recommendations for orphaned and abandoned mines in Canada, Australia, and the United States.

We were instrumental in passing the first US federal mining policy reform since the 1970s – the Good Samaritan Remediation of Abandoned Hardrock Mines Act of 2024, to address abandoned mines. In 2025, in partnership with RESOLVE and support from the Rivian Foundation, we published guidance on the Good Samaritan Act and developed a shortlist of shovel-ready sites for restoration.

“A Guide for Good Samaritans to Help Remediate Abandoned Hardrock Mines in the U.S.” is published by RESOLVE in partnership with Regeneration and funding from the Rivian Foundation.

“An Exploration of Policy Tools to Address Abandoned Mines” is authored by ConservAmerica and published together with RESOLVE and Regeneration.

We are now leading an effort with partners to secure permits for a Good Samaritan project in Arizona.

Technology

We have identified over 100 conventional and novel technologies that we can use for reprocessing waste and restoring sites. We are currently testing numerous technologies with material from our sites. We signed an MOU with DISA technologies in 2025 to use their technology on our sites. We will collaborate to deploy DISA’s High-Pressure Slurry Ablation (HPSA) technology across select sites to improve mineral recovery from mine waste and demonstrate positive restoration and community outcomes.

Partners

Our partnerships are growing, we have added Steptoe, a law firm, Aurecon, for engineering support, Auramet for metals trading and investment, and Falkirk Environmental for project support in Canada.

Our work with our founding partners continues and was recently showcased in reports including those from Mejuri and Apple.

We are working with Mejuri on a project with the United Nations Global Compact Network Canada to advance understanding of climate adaptation and community resilience, using Salmon Gold sites as a case study.

Team & Strategy

We have strengthened and expanded our team to support project advancement and execution. Our core team and founders have decades of experience with companies and organizations from mining to policy including RESOLVE, Rio Tinto, Salmon Gold, Earthworks, Global Battery Alliance, Barrick, ICMM, World Economic Forum, Deloitte, World Resources Institute, Teck, Newmont, Intel, and others.

We develop timebound goals and objectives that we update every three years. For 2025 – 2028, we are focused on project advancement at our top sites for mineral production from waste, deployment of technologies, and demonstrating restoration value – all at scale and supported by targeted financing efforts. Our work will continue to be supported through our efforts in enabling policy and market conditions, building a supportive coalition of stakeholders, and expanding our partnerships.

About Regeneration

Regeneration is a metals recovery and restoration company. We are a social enterprise, structured as a public benefit company, realizing the full value from legacy mine sites. We view mine waste as a resource and an opportunity to create regenerative systems that support the renewal and resilience of social and ecological functions at legacy mine sites. By extracting minerals from waste, we contribute to the circular economy and support the energy transition. At or projects we remove and stabilize mine waste that is a burden to nature and communities creating an opportunity for a renewed and resilient landscape.

Purpose and Vision

Mineral recovery supports our social and business purpose - it is one step that enables our approach to restore sites and create positive community outcomes. We can raise philanthropic or grant funding for projects that are important but would not otherwise cover the costs of cleaning up legacy mine sites. We invest and raise funding in support of ecological restoration at sites where we work.

Our vision is that legacy mine sites become regenerative systems that produce minerals from waste, provide social benefits as well as positive outcomes for nature. We contribute to this vision by identifying and developing projects where we can convert mine waste into responsible minerals and turn degraded lands into assets for people and nature. We collaborate with local communities, governments, Indigenous communities, and strategic business partners in the mining, technology, and restoration sectors.

Company Goals

1) Produce Responsible Minerals
At our sites we produce biodiversity, community, and climate positive minerals for the energy transition, technology, and sustainable brands through metals recovery and restoration. Our minerals are attractive to downstream brands; they demonstrate that legacy sites can be a differentiated source of critical and economic minerals.

2) Positive Ecological, Community, and Land Use Outcomes
We work with partners to show that environmental and socio-economic conditions at legacy sites can be improved. We create positive examples of community-backed land restoration for conservation or other uses, improving land values post-remining land. We document the value of restoration, other nature- and climate-positive actions, and social benefits.

3) Reduce Risk, Strengthen Reputations
We reduce site liability for companies, governments, rights holders, and communities.

Public Benefit Statement

Our public benefit purpose is to restore and renew biological and ecological systems such as forests, streams and wetlands through full value mining and other innovative methods; produce responsible minerals for the energy transition, green tech and sustainable brands; create and trade restoration and carbon credits, and utilize other strategies that benefit communities and the environment through the regeneration of natural resources. We seek out partnerships with Indigenous communities to create economic opportunities that incorporate traditional environmental and cultural knowledge.

Financials
‍

64%

30%

Total Support
& Revenue:

$2,047,000

Grants & Contributions: $1,311,000

Program Revenue: $614,000

Other Income: $122,000

67%

27%

Total Expenses:

$1,962,000

Program Development: $1,311,000

Site & Technology Development: $538,000

General & Administrative: $79,000

Taxes: $34,000

Context

About Regeneration

Our solution provides restoration and metals recovery

Values

Safety

Partnerships

Fully Valuing Natural Resources

Innovation

Net Positive Results

Our Progress

Read more

Hedley Project Case Study

Read more

Read more

Read more

Purpose and Vision

Company Goals

Public Benefit Statement

Public Benefit Statement

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Secondary Heading

Context

About Regeneration

Our solution provides restoration and metals recovery

Values

Safety

Partnerships

Fully Valuing Natural Resources

Innovation

Net Positive Results

Our Progress

Read more

Hedley Project Case Study

Read more

Read more

Read more

Purpose and Vision

Company Goals

Public Benefit Statement

Public Benefit Statement