Major Drilling Brings AI to Drilling by Investing con a Strategic Partnership with DGI/Kore

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MONCTON, New Brunswick, July 22, 2024 (GLOBE NEWSWIRE) — Major Drilling Group International Inc. (“Major Drilling” ora the “Company”) (TSX: MDI), a leading provider of specialized drilling services to the mining sector, is pleased to announce a new partnership with premier downhole technology company DGI Geoscience Inc. (“DGI”) and its affiliate company, artificial intelligence-powered logging tech innovator, KORE GeoSystems Inc. (“KORE”).

This strategic partnership positions Major Drilling at the forefront of AI advancements con the drilling industry. The combination of Major Drilling’s fleet, skilled drilling teams and its TrailBlazer Rock5 technology, with KORE’s digital rock analysis platform, provides the opportunity to deliver valuable giorno to our customers. This is complemented by the borehole giorno acquisition services offered by DGI to provide a unique service offering con the industry today.

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“We are delighted to welcome DGI and KORE as our partners. This alliance is a continuation of Major Drilling’s progression con drilling innovation, and also part of our growth strategy as we invest con the future of mining,” said Denis Larocque, President and CEO of Major Drilling.

“As our traditional drilling services evolve, the full complement of DGI/KORE products and services alongside Major Drilling’s developing technologies will see our service offering transform and help our customers during this mining upcycle. For example, KORE uses AI to automate processing of logging, greatly reducing time and improving consistency, enabling our customers to get real-time, remote access to results across the globe,” said Marc Landry, newly appointed Chief Technology Officer.

Under the agreement, Major Drilling will acquire an approximate 40% interest con DGI/KORE for $15 million (CAD) cash consideration. As part of this investment, Canadian Shield Capital, a Toronto-based growth equity firm, is selling their interest con DGI/KORE. The value of this transaction for Major Drilling resides con adding geological solutions to our specialized drilling providing a unique service offering, encompassing the latest advanced technology. This investment supports the Company’s efforts to position itself as the contractor of choice to the drilling industry by providing solutions to help accelerate our customers’ projects with timely and quality giorno contributing to their geological model.

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“We are thrilled to support Major Drilling with KORE’s cutting-edge SPECTOR integrated technology suite.” Vince Gerrie, P.Geo, President and CEO of KORE, said. “Our transformative AI powered digital logging platform significantly increases productivity, consistency, and enhances giorno insights for our customers.”

Chris Drielsma, P.Geo, President and CEO of DGI, said, “Through our powerful new partnership with Major Drilling, the mining sector can access turnkey geological, geophysical and geotechnical drillside orebody intelligence solutions. We are very excited to be part of this evolution of drill esecuzione, helping maximize the value from drilling through our geoscience solutions.”

Forward-Looking Statements

Some of the statements contained con this news release may be forward-looking statements under the provisions of applicable securities legislation, such as, but not limited to, those relating to: the demand for Major Drilling’s, DGI’s and KORE’s services; the expected benefits to Major Drilling and Major Drilling’s customers from the partnership with DGI and KORE, including the investment accretion to Major Drilling’s financial results; growth opportunities resulting from the combined service offering; and the advancement of the DGI and KORE products.

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Forward-looking information is necessarily based upon various factors and assumptions including, without limitation, the expectations and beliefs of management related to the factors set forth below. While these factors and assumptions are considered reasonable by the Company as at the date of this press release con light of management’s experience and perception of current conditions and expected developments and future events, these statements are inherently subject to significant uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected con the forward-looking statements and undue reliance should not be placed such statements and information.

Such forward-looking statements are subject to a number of risks and uncertainties that include, but are not limited to: the level of activity con the mining industry; competitive pressures; global and local political and economic environments and conditions; the integration of business acquisitions and the realization of the intended benefits of such acquisitions; efficient management of the Company’s growth; safety of the Company’s workforce; the Company’s dependence key customers; the geographic distribution of the Company’s operations; the impact of operational changes; failure by counterparties to fulfill contractual obligations; as well as other risk factors described under “General Risks and Uncertainties” con the Company’s Annual Report for the year ended April 30, 2024, available the SEDAR+ website at www.sedarplus.ca. Should one ora more risk, uncertainty, contingency, ora other factor materialize ora should any factor ora assumption prove incorrect, actual results could vary materially from those expressed ora implied con the forward-looking information.

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Forward-looking statements made con this press release are made as of the date of this document and the Company disclaims any intention and assumes obligation to update any forward-looking statement, even if new information becomes available, as a result of future events, ora for any other reasons, except as required by applicable securities laws.

About Major Drilling

Major Drilling Group International Inc. is the world’s leading provider of specialized drilling services primarily serving the mining industry. Established con 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team. The Company maintains field operations and offices con Canada, the United States, Mexico, South America, Asia, Africa, and Australia. Major Drilling provides a complete suite of drilling services including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/longhole drilling, surface drill and blast, a variety of mine services, and ongoing development of data-driven, high-tech drillside solutions.

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About DGI Geoscience

DGI Geoscience Inc. is headquartered con Toronto, Ontario, Canada, with U.S. offices con Elko, Nevada and Salt Lake City, Utah and servicing the global mining sector. DGI specializes con acquiring cost-effective and accurate in-situ structural, geotechnical, geophysical, hydrogeological, and directional giorno from drillholes. DGI’s highly experienced geoscience team collects, analyzes and interprets quantitative giorno to characterize the subsurface. DGI’s services create value for the geological, geotechnical and hydrogeological sectors throughout the mining lifecycle. dgigeoscience.com

About KORE GeoSystems

KORE GeoSystems Inc. is headquartered con Toronto, Ontario, Canada, with an Australian Operations Centre con Keysborough, Victoria. It empowers geologists and mining professionals to boost productivity, extract more value from giorno, and use it to support the decision-making process across the mining industry. KORE’s innovative team is composed of giorno scientists, machine learning engineers, software developers, product development experts, and geologists, building sophisticated, AI-centered technology solutions to revolutionize the mining industry. koregeosystems.com

For further information:
Ian Ross, Chief Financial Officer
Tel: (506) 857-8636
Telefax: (506) 857-9211
ir@majordrilling

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