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Sky Quarry Applies for Recycling Permit to Launch Integrated Energy Facility in Utah

1. Sky Quarry filed for a Waste Management Recycling Permit in Utah. 2. The permit could enable significant oil and asphaltic sand production. 3. Projected recovery from operations is 10 million barrels over 15 years. 4. Permit allows for consolidation of operations under a sustainable development plan. 5. Early-stage cash flow and enhanced ESG profile expected from the initiatives.

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Why Bullish?

The announcement of a permit application can lead to accelerated growth and revenue generation. Historical examples show that regulatory approvals often boost stock performance significantly when tied to expansion and new revenue streams.

How important is it?

The progress toward a significant operational initiative is crucial for Sky Quarry's financial future. This type of announcement typically spurs investor interest and supports a stronger ESG narrative.

Why Long Term?

The approval process can take time, but once approved, operational benefits and revenue generation will have enduring positive effects on performance. Long-term growth projection aligns with strategic plans, making it more relevant over time.

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CYNPENNAVAV
“Unlocking New Commercial Pathways and Expanding Revenue-Generating Operations” June 12, 2025 08:45 ET  | Source: Sky Quarry Inc WOODS CROSS, Utah, June 12, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced that it has filed a Waste Management Recycling Permit application to Utah regulators. If approved, the permit would allow the Company to operate a combined oil sands extraction and waste asphalt shingle recycling facility at its PR Spring site, unlocking new commercial pathways and expanding revenue-generating operations. The application is accompanied by a request to the School and Institutional Trust Lands Administration (SITLA), the Utah state agency responsible for managing trust lands on behalf of public education, for approval of a combined permit structure. This would allow Sky Quarry and its wholly owned subsidiary, 2020 Resources, to consolidate shingle processing, heavy oil extraction, and asphaltic sand production under a unified sustainable waste energy development plan. If approved, the permit would open the door to several operational initiatives at the PR Spring site, including: Commercialization of approximately $1 million in asphaltic sand inventory.Deployment of the Company’s ECOSolv process to support on-site heavy oil extraction.Continued advancement of recycled product development through R&D.Demonstration of scalable remediation methods applicable across U.S. markets. Sky Quarry projects a combined recovery of approximately 10 million barrels over a 15-year period from oil sands and recycled shingles, based on the PR Spring facility’s operating capacity of 2,000 barrels per day. “This is a critical step in scaling our waste-to-energy platform and creating multiple revenue streams from a single operational footprint,” said David Sealock, Chief Executive Officer and Chairman of the Board of Sky Quarry. “It will allow us to showcase how our blended recycling and extraction model functions at a commercial level.” The permit application also represents a meaningful step forward in Sky Quarry’s commercial roadmap, aligning with the Company’s long-term vision to integrate recycling and resource recovery. It is expected to: Enable early-stage cash flow from asphaltic sand and oil sales.Strengthen the Company’s ESG and sustainability profile.Enhance the long-term strategic value of its oil sands assets. Mr. Sealock continued, “This application and lease proposal reflects our continued progress toward developing scalable, commercially viable solutions that we believe align with Utah’s economic and environmental priorities. We look forward to working closely with SITLA and state regulators to move this vision forward.” About Sky Quarry Inc. Sky Quarry Inc. (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com. Forward-Looking Statements This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company’s Form 10-K as filed with the SEC on March 31, 2025, as well as the Company’s Form 10-Q as filed with the SEC on May 15, 2025. Forward-looking statements speak only as of the date of the document in which they are contained. Investor RelationsJennifer Standley Director of Investor RelationsIr@skyquarry.com Company Websitewww.skyquarry.com

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