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ADDITIONAL UNTESTED GOLD TARGETS IN RED LAKE, ONTARIO

Drilling highlighted by drill hole GC 24-276 which returned 5.13 grams per tonne (gpt) over 13.5 meters including 14.72 gpt over 2.3 meters, reported in drilled thickness

Completion of the previously discussed underground drill stations at the 941-level of the Golden Chest Mine allows for better drill hole orientations and increases available targets within the Red Star area, helping delineate the shape of a broad mineralized zone

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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Potential to truck high-grade concentrate for blending at CGM, Tunkillia

HIGHLIGHTS

• Preliminary Wudinna metallurgical testwork indicates significant regional optionality, where:

Barns Deposit:

• efficient flotation of ~90% of contained gold to concentrates grading 20 - 25 g/t Au; and

  • gold recoveries of ~97 - 99% in all zones via a conventional gravity + leaching flowsheet;

Baggy Green Deposit:

• gold recoveries of ~91% in the supergene zone via the same conventional flowsheet; and

  • gold recoveries of ~98 - 99% in the primary zone via the same conventional flowsheet.

• Potential to truck high-grade concentrates to Central Gawler Mill and/or Tunkillia, leveraging current and future processing infrastructure for lower costs and enhanced returns