Major Drilling Brings AI to Drilling with Investment in Strategic Partnership with DGI/Kore

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MONCTON, New Brunswick, July 22, 2024 (GLOBE NEWSWIRE) – Major Drilling Group International Inc. (“Major Drilling” or the “Company”) (TSX: MDI), a provider of specialized drilling services to the mining sector, is pleased to announce a new partnership with leading downhole technology company DGI Geoscience Inc.

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

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“We are pleased to welcome DGI and KORE as partners. This alliance is a continuation of Major Drilling’s progress in drilling innovation, and is also part of its growth strategy while investing in the future of mining,” said Denis Larocque, President and CEO of Major Drilling.

“As traditional drilling services evolve, the full complement of DGI/KORE products and services together with Major Drilling’s developing technology will see our services offer transformation and help customers throughout this mining cycle. For example, KORE is using AI to automate core logging processes, reducing time and improving consistency, so customers have real-time and remote access to results worldwide,” said Marc Landry, newly appointed Chief Technology Officer.

Under the agreement, Major Drilling will acquire a 40% interest in DGI/KORE for a cash consideration of $15 million (CAD). As part of this investment, Canadian Shield Capital, a Toronto-based growth equity firm, sold its interest in DGI/KORE. The value of this transaction for Utama Drilling lies in enhancing our geological solutions for specialized drilling providing a unique service offering, incorporating the latest advanced technologies. This investment supports the Company’s efforts to position itself as the contractor of choice for the drilling industry by providing solutions to accelerate customer projects with accurate and high-quality data that contributes to geological models.

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“We are pleased to support Main Drilling with SPECTOR KORE’s integrated technology suite.” Vince Gerrie, P.Geo, President and CEO of KORE, said. “Our transformative AI digital core logging platform significantly improves productivity, consistency, and improves data insight 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 drilling performance, help maximize the value of drilling through our geoscience solutions.

Forward-Looking Statement

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

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Forward-looking information must be based on various factors and assumptions including, without limitation, management’s expectations and beliefs related to the factors described below. While these factors and assumptions are considered reasonable by the Company as of the date of this press release based on management’s experience and perceptions of current conditions and expected developments and future events, these statements are subject to significant uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those depicted in forward-looking statements and undue reliance should not be placed on such statements and information.

Such forward-looking statements are subject to a number of risks and uncertainties including, but not limited to: the level of activity in the mining industry; competitive pressure; global and local political and economic environment and conditions; the integration of business acquisitions and the realization of the expected benefits of such acquisitions; efficient management of Company growth; the safety of the Company’s workforce; the Company’s dependence on key customers; the geographic distribution of the Company’s operations; the impact of operational changes; failure by partners to fulfill contractual obligations; as well as other risk factors described in “General Risks and Uncertainties” in the Company’s Annual Report for the year ended April 30, 2024, available on the SEDAR+ website at www.sedarplus.ca. If one or more risks, uncertainties, contingencies or other factors exist, or if any factors or assumptions are incorrect, actual results may differ from those expressed or implied in the forward-looking information.

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The forward-looking statements made in this press release are made as of the date of this document and the Company disclaims any intention and undertakes no obligation to update any forward-looking statements, even if new information becomes available, as a result of future events, or for any other reason. , except as required by applicable securities laws.

Regarding Main Drilling

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

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About DGI Geoscience

DGI Geoscience Inc. headquartered in Toronto, Ontario, Canada, with US offices in Elko, Nevada and Salt Lake City, Utah and serving the global mining sector. DGI specializes in obtaining cost-effective and accurate in-situ structural, geotechnical, geophysical, hydrogeological, and directional data from boreholes. DGI’s highly experienced geoscience team collects, analyzes and interprets quantitative data to characterize the subsurface. DGI services create value for the geological, geotechnical and hydrogeological sectors throughout the mining life cycle. dgigeoscience.com

About KORE GeoSystems

KORE GeoSystems Inc. headquartered in Toronto, Ontario, Canada, with an Australian Operations Center in Keysborough, Victoria. It empowers geologists and mining professionals to increase productivity, extract more value from data, and use it to support decision-making processes in the mining industry. KORE’s innovative team consists of data scientists, machine learning engineers, software developers, product development experts, and geologists, building cutting-edge technology solutions and AI centers to revolutionize the mining industry. coregeosystems.com

For more information:
Ian Ross, Chief Financial Officer
Phone: (506) 857-8636
Fax: (506) 857-9211
ir@mayordrilling

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