Casa Grande, AZ

CASA GRANDE, AZ (3TV/CBS 5) -- Firefighters in Casa Grande received concerning test results when nearly half of a hazmat team tested for elevated levels of arsenic during their annual heavy metal testing. None of the seven firefighters knew they had high levels of the naturally occurring chemical that can cause cancer. Six of the seven are stationed at the same firehouse in Casa Grande. “That was our immediate concern that something in the station was doing this,” said Casa Grande Fire Department Chief Dave Kean.

Kean said he gave bottled water to the team and paid an independent lab to test the water at the firehouse. The results obtained by Arizona’s Family came back clean. Now, he’s trying to find the link between firefighters with arsenic in their system. “We are doing some, lack of a better term, contact tracing,” he said. “What we are doing, we are compiling a spreadsheet if there is some sort of commonality; maybe they all live in the same area.”

The chief says the first responders never got sick or knew they had it. “These aren’t levels that are going to kill anybody or rush anybody to the emergency room over this,” he explained.

According to Dr. Shad Marvasti, just because firefighters aren’t experiencing symptoms now doesn’t mean it can’t lead to serious health complications. “Arsenic is a known carcinogenic, so it can increase your risk for a number of cancers, bladder cancer, liver cancer, lung cancer, lymphoma. It’s definitely something that needs to be addressed,” said Dr. Marvasti. He adds it’s imperative to find where the elevated levels came from.

The Arizona Water Company, which supplies water to Casa Grande, has normal levels, which the Arizona Department of Environmental Quality confirmed from their last testing. “Like I said, at this point, it’s a little bit of a mystery,” said Kean.

Casa Grande is unique in this situation. Marana and Maricopa, similar-sized cities, said that none of their hazmat crew self-reported elevated levels of arsenic from heavy metals testing. “We are going to work with the employees to find out what the issue is. I don’t know if we’ll ever know,” said Kean.

The chief says the firefighters who tested for high arsenic levels will be re-tested again in 30 days.

Copyright 2023 KTVK/KPHO. All rights reserved.

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CASA GRANDE, AZ — As thousands of students continue to head back to school, some Arizona districts are going into the new year with a brand-new schedule: only learning for four days a week.

Both the Cartwright Elementary School District in Phoenix as well as the Liberty Elementary School District in the West Valley will start the new schedule this school year.

However, the Casa Grande Elementary School District started just last year and has learned some things.

The district’s board approved the move to the four-day schedule in March of 2022, with the district implementing the new schedule just months later for the 2022-23 school year, Superintendent Dr. Adam Leckie said.

It was an adjustment, diving headfirst into the new schedule.

“Last year was really a lot of responding to the organization of a school district calendar, making sure that we supported our families through that transition and thinking about how we could do a better job supporting our staff, given the four-day week,” Leckie said.

Leckie said they had to move from 180 school days and compress it into 154 days. School districts are required to hit a number of minutes of instruction time for certain grade levels, Leckie said.

“You have to plan out your instruction and your curriculum really intentionally because you just don’t have as many days in the year,” he added.

Leckie said there is about a two-and-a-half-hour difference in instruction time on the new schedule. The days are a bit longer, however, the district eliminated its half-day on Wednesdays.

So far on the schedule, Leckie said it’s still a bit too soon to be able to see the impacts on students’ academics, however, they did see their students’ academic performance “maintained or grew slightly.”

“We’re really going to start looking this year and next year about how that impact is playing over time,” he added.

Shortening the school week can make it difficult for parents who work a full, regular week. Leckie said the district is working with the local Boys and Girls Club as well as another organization to help fill that gap on Fridays.

One of the biggest reasons for moving to this new schedule is to help retain and recruit new teachers. In the district’s second year on the four-day schedule, Leckie said they plan to try and promote it as well as help staff and students moving forward.

It certainly is an incentive for Emily Hoffman, a first-grade teacher at Saguaro Elementary. She’s going on her 11th year with the district. With the new schedule she said it’s helped her personal life and helped her mentally.

“I do think that it’s an incentive. I have actually considered leaving the district in the past to go to a different district that had a four-day workweek. Thankfully, I got to stay here at Saguaro and enjoy the four-day workweek with my team. I didn’t have to go anywhere,” she said.

As a teacher moving to that schedule, her advice to others is to try and find a way to be organized.

Leckie’s advice to other districts moving to the new schedule, “I would just really be responsive to the needs of their district and their community and involve as many of those community stakeholders as possible to make that decision,” he said. “It’s not an easy decision and there are a lot of legitimate concerns when we talk about not bringing kids in for five school days.”

Copyright 2023 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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CASA GRANDE, Ariz. — Officials are offering a reward for information on a destructive hay fire in Casa Grande that may have been intentionally set.

The burning hay was first reported on the morning of July 28 near Roughcut Drive and Stampede Way, which is in an area between Eloy and Casa Grande. The fire is believed to have started at about 2:30 a.m.

The Casa Grande Fire Department said no surrounding buildings were in jeopardy and firefighters remained on the scene to monitor the situation.

The four stacks of hay were expected to burn for several days and residents in the surrounding communities were advised to keep windows closed and limit HVAC use, according to the Eloy Fire District.

Silent Witness Casa Grande AZ is now offering $50,000 for information about the fire that may lead to an arrest. Tips can be submitted by calling 520-836-2100.

Credit: 12News

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What is the Valley?:

“The Valley” is what locals call the Phoenix Metropolitan Area. It is considered the largest metropolitan area in the Southwest.

The Valley is made up of various major cities other than Phoenix, including:

Whether a city is in the “East Valley” or “West Valley” depends on where it is in relation to Phoenix.

The cities of the Valley have a combined population of 4,845,832 people, according to the 2020 United States Census. This makes it the 11th largest metropolitan area in the country right behind the Boston and Atlanta areas.

How big is Maricopa County?:

Maricopa County is the United States’ 4th largest county in terms of population with 4,485,414 people, according to the 2020 Census.

The county contains around 63% of Arizona’s population and is 9,224 square miles. That makes the county larger than seven U.S. states (Rhode Island, Delaware, Connecticut, Hawaii, New Jersey, Massachusetts and New Hampshire).

One of the largest park systems in the nation is also located in Maricopa County. The county has an estimated 120,000 acres of open space parks that includes hundreds of miles of trails, nature centers and campgrounds.

The county’s seat is located in Phoenix, which is also the state capital and the census-designated 5th most populous city in the United States.

NRS Logistics America Inc., a national provider of chemical and gas logistic services, closed on 40 acres in Casa Grande, Arizona, for $7.05 million. The sale includes 4 acres of rail right of way.

Land Advisors Organization Pinal County Specialists Kirk McCarville, CCIM, and Trey Davis facilitated the deal on behalf of the seller, Auza Ranches. The land is in proximity to the rail-served West Industrial area in Casa Grande, a 1,200-acre future industrial region entirely represented by Land Advisors Organization.

LEARN MORE: Pinal County housing grows at the fastest rate in the state

Auza 650 is the largest shovel ready, rail-served, single-owner industrial park in Casa Grande. The Union Pacific main line runs directly through Casa Grande and connects directly into the Auza 650 property through the Casa Grande Yard. In addition to the transportation benefits of being on the main line, Auza 650 has Interstate 8 and Interstate 10 each within 3 miles of the property.

“Proximity to Phoenix. Proximity to its suppliers in the semiconductor industry. Land price. Housing affordability for employees. This deal made sense on so many levels for NRS Logistics,” McCarville said. “It features unmatched highway and rail access for logistics. It also will experience a positive development environment at the city and county levels. The speed to market and rail service will be unmatched.”

This sale represents a huge leap for the Casa Grande West Industrial area. The development will bring rail across Ethington Road, allowing shovel-ready rail service and other utility services to the rest of the West Industrial area.

The City of Casa Grande and Pinal County have partnered on the development of the area in which the Auza 650 is located by committing more than $50 million to the surrounding infrastructure that is currently under construction.

Casa Grande is no stranger to massive undertakings and is renowned for its record time of being able to get the Lucid Motors facility fully up and running in just one year from initial approvals.

Over the past two years, Casa Grande has received significant attention at the national and international levels with announcements by major manufacturers expanding or relocating to the market. Land Advisors Organization has facilitated bringing many companies to the area, such as Lucid Motors, Kohler, Chang Chun Chemical and Air Products. There is tremendous interest from manufacturers, semiconductor supply chain and electric vehicle manufacturer suppliers and others with rail distribution needs to have facilities in the area. Casa Grande’s population has doubled since 2000, making it the largest city and tax base in Pinal County.

Opus Development Co. LLC has secured a key tenant for its first industrial project in Pinal County.

EFP LLC, a designer and manufacturer of custom protective packaging, signed a lease in March to occupy 100% of building A at Confluence Industrial Park in Casa Grande, or about 152,200 square feet.

The Indiana-based manufacturer plans to use the plant for expanded polystyrene molding and distribution as well as cold chain distribution. The company said it has current customers in the area.

The building will be EFP's first Arizona facility and is expected to be operational by February 2024. EFP is also going to invest $12 million for its equipment and for building improvements.

The speculatively-built Confluence Industrial Park started construction earlier this year and is expected to be delivered by December 2023. The second building, which will also be completed by the end of this year, will total 173,500 square feet.

Larry Pobuda, executive vice president and general manager at Minnesota-based Opus, said he's "thrilled" to have an opportunity to work with EFP, a business partner to Kohler Co., which is building a $300 million manufacturing plant also in Casa Grande.

"This really supports the strength of the Casa Grande market that continues to emerge with continued strong investment and this is certainly additional evidence of that," Pobuda told the Business Journal.

Pobuda said they are currently in discussions with two groups for leasing the second building at Confluence.

The industrial park is located at the southwest corner of Jimmie Kerry Boulevard and Sunland Gin Road close to the confluence of Interstates 8 and 10. Casa Grande and Pinal County have become home to a growing number of manufacturers including electric vehicle makers Lucid Group Inc. and Nikola Corp., as well as a number of semiconductor suppliers and speculative industrial parks.

“With the tightening and increasing land price in the Phoenix Metro area, more companies are looking in the Casa Grande area market for expansion opportunities," said Paul Sieczkowski, a senior executive vice president at Colliers International. "More developers are looking to purchase land and build in the area, which is 45 minutes to Phoenix and 45 minutes to Tucson with easy access to the west coast via the 8 Freeway.”

Paul Sieczkowski, Justin Sieczkowski and Mallory Wayne of Colliers represented EFP in the lease. Tony Lydon, John Lydon, Pat Harlan and Hagen Hyatt of JLL are the leasing brokers for the property.

Industrial leasing and demand for space has driven development across the Phoenix metro, which had nearly 45 million square feet of space under development and a 2.7% vacancy rate in Q1 2023, according to JLL. The direct asking rent across the Valley in Q1 averages 76 cents per square foot.

PHOENIX, June 8, 2023 – JLL Capital Markets announced today that it arranged $15 million in joint venture equity and $23 million in financing for the development of KV Casa Grande, a state-of-the-art, industrial development totalling 314,453 square feet in Casa Grande, Arizona.

JLL worked on behalf of the borrower, Kentwood Ventures, to secure the loan through CrossFirst Bank and equity through Blue Vista Capital Management.

KV Casa Grande will sit on an 18.68-acre parcel at the corner of Thornton Rd. and Lawrence St. Key building features will include 32-foot clear heights, a 175-foot concrete truck court, 28 dock-high doors, 14 grade-level doors and 339 parking spaces. The project broke ground in April 2023 and is projected to be completed over the next year.

The development is centrally situated in Casa Grande’s expanding industrial submarket, an extension of Phoenix’s Southeast Valley industrial market, which includes Tempe, Mesa, Chandler, Gilbert and Sky Harbor International Airport. Casa Grande has an industrial vacancy rate of 1.3% and limited speculative construction. The pro-growth community is positioned at the crossroads of the I-8 (San Diego), I-10 (Phoenix/Tucson/Los Angeles) and SR85 (Mexico), providing efficient transportation options throughout the Southwest Region. Additionally, the project is located within Pinal County, one of the fastest growing counties in the country with 500,000 residents and growth projections to more than double by 2045.

The JLL Capital Markets Debt and Equity Advisory team was led by Senior Director Jason Carlos and Associate Jarrod Howard. Leasing will be spearheaded by Tony Lydon, John Lydon, Hagen Hyatt and Kelly Royle.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Kentwood Ventures

Kentwood Ventures is a private real estate development and investment company focused on superior risk/return opportunities. Together the principals, Kevin Dretzka and Jim Zemezonak, bring a combined 70 years of experience and have completed $8 billion in transactions both locally and nationally.

About CrossFirst Bankshares, Inc.

CrossFirst Bankshares, Inc. (Nasdaq: CFB) is a Kansas corporation and a registered bank holding company for its wholly owned subsidiary CrossFirst Bank, a full-service financial institution that offers products and services to businesses, professionals, individuals, and families. CrossFirst, headquartered in Leawood, Kansas, has locations in Kansas, Oklahoma, Texas, Missouri, Colorado, New Mexico and Arizona.

Blue Vista is a leading investment management firm focused on helping investors maximize returns through best-in-class real estate equity and credit strategies across the risk-return spectrum. Blue Vista offers investors the benefits of a vertically integrated platform, complementary strategies managed by experienced teams, and deep expertise as an owner, operator and lender across all property types and various markets in the U.S. and Canada. Since its inception in 2002, the firm has invested over $13.0 billion in total capitalization, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing. For more information, please visit https://bluevistallc.com/.

Arizona's fledgling electric vehicle industry is taking a blow with word that Lucid Group will lay off about 1,300 employees, including nearly 1,000 at its new factory in Casa Grande.

In an updated report filed with the Arizona Department of Economic Security, the company said 968 of the job losses would happen at the sprawling Pinal County facility, revising down an earlier estimate of 1,296 cuts there.

CEO Peter Rawlinson informed employees of the layoffs in a March 28 letter under the heading of "difficult news today." That was followed by a posting of the layoffs with the Arizona Department of Economic Security.

"Given evolving business needs and productivity improvements, we are reducing the size of our organization by approximately 18%, which will affect Lucid employees and contractors," said Rawlinson, who also serves as the company's chief technology officer.

"This action is aligned with the cost discipline announcement we made in late February when we reported earnings. We are also taking continued steps to manage our costs by reviewing all non-critical spending at this time."

The luxury vehicle maker, which is headquartered in Newark, California, said it employed about 7,200 people at the end of 2022. For the full year, it reported a $2.56 billion loss attributable to common shareholders on revenue of $608 million. Lucid produced nearly 7,200 cars in Casa Grande last year.

Affected employees will receive a severance package that includes Lucid-paid health care insurance, access to career resources and other benefits.

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Rawlinson's note said Lucid's workforce will see reductions "in nearly every organization and level, including executives." He added that the layoffs are designed to position the company to be more resilient and agile, strengthening it for the long term.

Lucid's mission remains unchanged, he continued.

"We are committed to a more innovative and environmentally sustainable future – designing, building, and delivering the best EVs on the market as we expand globally and develop more exceptional vehicles such as the Gravity SUV, which we plan to launch in 2024," Rawlinson said in his letter.

"I am confident that we have the most advanced technology, we have the right operational infrastructure and know-how to deliver, and we have a track record of tenacity that will make us stronger."

Reach the reporter at russ.wiles@arizonarepublic.com.

Arizona has something to offer everyone with its deserts, rivers, valleys, lakes, and snow-capped mountains. As a result, it is a popular choice for retirees to lay down their roots and live out their lives in peaceful splendor. Other attractions include beautiful scenery, warm weather, and a low cost of living. So, whether you prefer a small-town feel or the hustle and bustle of the big city, here are 8 secretly amazing places to retire in Arizona.

1. Casa Grande

Many retirees struggle to decide whether to retire in Phoenix or Tucson. However, there’s a lovely little city right in the middle of the two called Casa Grande, which is one of the secretly amazing places to retire in Arizona. One of the city’s charms is its historic downtown area, with more than 40 buildings on the local and national historic registers. Furthermore, the city has a touch of new-world amenities, like chain restaurants, major retailers, eateries, and shops. Casa Grande has around 60,000 full-time residents who enjoy:

2. Green Valley

Green Valley is only 20 miles from Tucson and 40 miles from the Mexican border. It is a picturesque town famous for its retirement community. People looking for a slower-paced life enjoy its affordable homes, abundant sunshine, and proximity to larger cities. Furthermore, the town offers several public golf courses. Locals can also enjoy plenty of culture and entertainment. For example, the Community Performance & Art Center showcases live theatre productions, concerts, and art exhibitions.

Retirees can also enjoy cycling in the historic Santa Cruz River Valley, which has stunning views of the desert landscape. Green Valley’s sense of security is also something to savor, with weekly farmers markets, meetings at the local library, and bird-watching clubs.

3. Cottonwood

Have you ever dreamed of retiring in the heart of wine country? Cottonwood can offer you a retirement filled with good wine, thanks to the multiple farms in the area. Venture to the Verde Valley Wine Trail on a Sunday and indulge in wine while learning about the history and production of the state’s finest wines. Furthermore, Old Town Cottonwood has several wine-tasting rooms amongst its modern boutiques, galleries, restaurants, and antique shops. But, if you prefer the peacefulness of nature, Cottonwood also offers state parks with walking paths, hiking and biking trails, and fishing holes. The town has a close community, with ideal weather during every season, making it one of the secretly amazing places to retire in Arizona.

4. Prescott

Prescott, Arizona, has an amazing history! This is the town that was Doc Holliday and Wyatt Earp’s playground. But, it’s the scenery that attracts most retirees, ranging from pine forests, lakes, granite boulders, and rolling meadows. Additionally, its mild, year-round weather is definitely appealing. Become part of the community by joining the city’s monthly art walks, which include visiting distilleries, microbreweries, and restaurants, with line dancing, live music, and karaoke at the famous Whiskey Row Saloons. While Prescott might feel like a small town, it still has all the amenities of a city, like major shopping retailers. Lastly, if you feel like a change of scenery, Sedona, Jerome, and Phoenix are only a short drive away.

5. Flagstaff

Flagstaff is located in northern Arizona and is notorious for Humphreys Peak, the highest mountain in the state. Winters are particularly beautiful as the peak is covered in snow, creating a stunning backdrop for the desert landscape. Therefore, this town is ideal for retirees who love the snow and winter activities like snowshoeing, skiing, and snowmobiling. Furthermore, Flagstaff’s cool winter climate is refreshing compared to the rest of the state’s sweltering climate. Lastly, outdoor enthusiasts will appreciate the breathtaking mountain scenery and numerous hiking trails.

6. Mesa

Mesa is one of the best places to retire in Arizona. Many people flock to this city for its amazing weather. Mesa experiences 330 days of sunshine a year, which you can spend at several nearby lakes and the Salt River. Retirees can also relax on a lake cruise or visit a local water park to cool off. Furthermore, this city is a haven for sports fans. For example, during springtime, there are over 200 Major League spring training games over 30 days. Golfing is also popular, with 100 golf courses within close proximity to Mesa’s city center. The Mesa’s Fresh Foodie Trail is another big attraction, which showcases cuisine from the area’s many farms.

7. Show Low

Located on the eastern part of the state near the border of New Mexico lies the city of Show Low, a charming town in the White Mountains. It holds the title of one of northern Arizona’s fastest-growing cities, making it a great place to invest in property. Many people love Show Low for its weather, as it experiences all four seasons. But, what really makes this city one of the best places to retire is its numerous opportunities for outdoor recreation like fishing, hunting, camping, hiking, cross-country skiing, and biking. Show Low has over 200 trails of interconnecting multi-use trail loops. Lastly, this city is home to the largest forest of Ponderosa pine trees in the United States.

8. Sedona

Sedona sits in the northern Verde Valley region and is a great place to consider for retirement. This city has a great climate, with moderate temperatures. It is also a popular destination for outdoor enthusiasts, offering multiple hiking opportunities, cycling, or offroading. But what makes Sedona unique is its spiritual exploration and healing. There are many places in the city where one can meditate, shop for crystals, and more. Retirees also enjoy Sedona’s festivals, New Age shops, and boutiques. But the sunsets are the best thing about this city. When the sun sets, it reflects off Sedona’s iconic red rocks, which creates a masterpiece. It also has a thriving art community, boasting several art galleries.

CASA GRANDE, Ariz. - Our nation's service members risk their lives to protect our freedom. Some never make it home and those that do often have debilitating injuries, making a return to civilian life extremely difficult. But one organization is working to make that transition a little bit easier.

In this edition of FOX 10 Care Force, meet Gunnery Sgt. Nick Beberniss, and the group he says is changing his life for the better.

This concrete slab in Casa Grande may not look like much, but for the Beberniss family, it's a new beginning.

"Our Humvees were parked on top of a double stacked tank mine, and we didn't know it.. when we were told to dismount, a black vehicle came about 100 yards away and detonated it," said Nick. "I went to go push myself off and when I pushed, that's when it went off, so it ejected me. Threw me like a ragdoll."

Picture a 225 pound man flying 190 feet.

Beberniss was a Lance Corporal, serving in Iraq on July 21, 2004, when it happened. He had bone fractures throughout his body, a hole in his right lung, severe head trauma, and both legs were broken. He endured years of treatment, but his right leg was never the same.

"They talked about amputation. I said let's do it. I went in January of '08 for an elective amputation."

Despite everything he endured, Nick continued on with the Marines. It wasn't until 2019 that he was medically retired – two years after being diagnosed with multiple sclerosis.

"I've always said I'm going to keep going until my body tells me it's done.. and I think when I got diagnosed with MS that was my body telling me it's done."

Nick, his wife Leslie, and their three children moved in with Leslie's parents in Casa Grande. They've been making it work as Marines do – adapt and overcome, but it's been challenging.

He says climbing into the shower is the hardest part, but life is about to change for this family.

"It's real, it's happening."

Through some friends, Leslie found the non-profit Homes For Our Troops. The group builds fully-adaptable custom homes for severely injured post Sept. 11 veterans.

Their new barrier-free home with an open floor plan is being built on five acres.

It's a fresh start. A chance for Leslie to live without fear for Nick's safety, for the kids to have their own rooms, and for Nick to get his independence back.

Leslie's dad is a disabled veteran as well. He donated the land where their house is being built to pay it forward for other veterans.

Homes For Our Troops has completed 360 homes across 45 states, including five in Arizona.

The Beberniss family hopes to be in their new home to ring in the new year.

Strategic Land Acquisition Includes Associated Water Rights

Ivanhoe Electric Now Has Agreements in Place to Own a Complete Private Land Package and Mineral Rights Encompassing the Entire Santa Cruz Project

PHOENIX, AZ / ACCESSWIRE / May 11, 2023 / Ivanhoe Electric (NYSE American:IE)(TSX:IE) Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the signing of a binding Purchase and Sale Agreement ("PSA") with Wolff-Harvard Ventures LLC ("Seller" a.k.a. "Legends Property") for the acquisition of surface land at its Santa Cruz Copper Project in Casa Grande, Arizona. The acquisition totals 6,205 acres of surface title and associated water rights.

Ivanhoe Electric also holds the option to acquire all the mineral titles contiguous with the acquired surface lands. Those mineral rights will be formally acquired upon the completion of scheduled payments by Ivanhoe Electric to the current mineral title holder in August 2023 and 2024. At that time, Ivanhoe Electric will have a unified land and mineral package encompassing the entire Santa Cruz Project.

Mr. Friedland commented: "Acquiring the surface land at our Santa Cruz Project is a significant step towards realizing our vision of developing a high-grade, low carbon dioxide footprint underground copper mine on private land. We are designing our Santa Cruz Project to be a modern, responsible underground mining operation that will employ a skilled workforce and provide an economic boost to Arizona's growing industrial economy while supporting supply chain independence in the United States for electric metals. The large area of flat land that we are acquiring is ideally suited for renewable solar energy, which we plan to utilize to power our Santa Cruz Project. This important transaction is the culmination of our hard work to reunite the surface land with the subsurface mineral rights we already have the option to acquire, giving Ivanhoe Electric control of a large, high-grade copper project on private land in the Copper State."

Mr. Melvin commented: "This agreement is a major milestone for our Santa Cruz Project. Acquiring such a large area of private land and associated water rights, in the heart of a growing industrial area near Casa Grande with excellent access to infrastructure including nearby rail, highways and electric transmission lines, is a tremendous advantage for Ivanhoe Electric. Acquiring this land gives our team the flexibility they need to design and develop a minimally disruptive, efficient and modern underground copper mining operation, and provides significant potential for on-site solar power. This land will be a valuable long-term asset for the future of the Santa Cruz Project and our company."

Video footage of the Santa Cruz Copper Project, located just west of Casa Grande and approximately 40 miles south of Phoenix, Arizona. Click on the image below for the high-resolution video.

Terms of the Legends Land Acquisition

Under the terms of the PSA, Ivanhoe Electric will acquire 6,205 acres for a total purchase price of $120.5 million to be paid in installments over a 4.5-year period, as follows:

Interest on future payments will accrue at a rate of Prime plus 1%. In the event that Ivanhoe Electric elects to begin mine construction prior to completing the final principal payment, the full outstanding balance shall be paid to Seller prior to commencement of major mine construction activities.

Map of land being acquired at the Santa Cruz Copper Project, Casa Grande, Arizona

Map showing the substantial regional infrastructure located near the Santa Cruz Copper Project, Casa Grande, Arizona

Drill site location at the Santa Cruz Copper Project, Casa Grande, Arizona

Christopher Seligman, Principal Development Geologist, examining core samples at the Santa Cruz Copper Project

About Ivanhoe Electric

Ivanhoe Electric is an American technology and mineral exploration company that is re-inventing mining for the electrification of everything by combining advanced mineral exploration technologies, renewable energy storage solutions and electric metals projects predominantly located in the United States. Ivanhoe Electric uses its Typhoon™ transmitter, an accurate and powerful geophysical survey system, together with advanced data analytics provided by its subsidiary, Computational Geosciences Inc., to accelerate and de-risk the mineral exploration process as well as to potentially discover deposits of critical metals that may otherwise be undetectable by traditional exploration technologies. Through its controlling interest in VRB Energy, Ivanhoe Electric also develops and manufactures advanced grid-scale vanadium redox battery storage systems. Finally, through advancing its portfolio of electric metals projects located primarily in the United States, headlined by the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah, as well as projects in Montana, Nevada, Oregon and North Carolina, Ivanhoe Electric is also well positioned to support American supply chain independence by delivering the critical metals necessary for electrification of the economy.

Contact Information

Investors: Valerie Kimball, Director, Investor Relations 720-933-1150

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable US and Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this news release.

Such statements in this news release include, without limitation: statements regarding the final terms and conditions, potential satisfaction of closing conditions and closing of the strategic land transactions; the schedule of payments; the anticipated benefits of the transactions; the development of the Santa Cruz Project and the potential benefits thereof.

Forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Such statements are subject to significant risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including uncertainties as to the timing of closing the transaction, including the potential failure to close; the Company's ability to complete due diligence on the timeline or at all; the satisfaction of conditions to closing; the risk that the Company cannot complete the payments owed; changes in the prices of copper or other metals Ivanhoe Electric is exploring for; the results of exploration and drilling activities and/or the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations; the final assessment of exploration results and information that is preliminary; the significant risk and hazards associated with any future mining operations, extensive regulation by the US government as well as local governments; changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; and the impact of political, economic and other uncertainties associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the global economy. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors described in Ivanhoe Electric's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this news release. Ivanhoe Electric cautions you not to place undue reliance on these forward-looking statements. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release, and Ivanhoe Electric expressly disclaims any requirement to do so.

SOURCE: Ivanhoe Electric Inc.