Inventus Reports Final Phase 2 Drilling Results at Pardo Ahead of Maiden Resource Estimate

TORONTO, Oct. 28, 2026 (ZM NEWSWIRE) — Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to report results from the final 89 drill holes of its completed Phase 2 drill program at the 100%-owned Pardo “River of Gold” Project, located 65 km northeast of Sudbury, Ontario. The latest results include 4.47 g/t gold over 2.19 m and 3.39 g/t gold over 2.19 m in the shallow Main Layer (“MiBC”).

These final Phase 2 results will be incorporated into the Company’s upcoming maiden mineral resource estimate, targeted for mid-November 2026. With Phase 3 drilling already underway, Inventus is advancing its initial resource estimate while testing the potential to expand the Pardo gold system into a substantially larger area.

HIGHLIGHTS

• Final Phase 2 assays complete the results from the 89 holes that remained pending in September. These results add to the drill data supporting the upcoming maiden mineral resource estimate.
• Shallow Main Layer results include:
  • 4.47 g/t gold over 2.19 m, including 12.41 g/t gold over 0.50 m, beginning 10.81 m below surface in PD-26-404.
  • 3.39 g/t gold over 2.19 m, including 16.01 g/t gold over 0.30 m, beginning 14.98 m below surface in PD-26-406.
  • 3.31 g/t gold over 1.66 m, including 7.25 g/t gold over 0.62 m, beginning 9.41 m below surface in PD-26-422.
  • 2.37 g/t gold over 2.33 m, including 8.63 g/t gold over 0.40 m, beginning 12.98 m below surface in PD-26-424.
  • 1.79 g/t gold over 4.10 m, including 4.84 g/t gold over 1.42 m, beginning 8.86 m below surface in PD-26-463.
  • 1.65 g/t gold over 2.39 m, including 3.71 g/t gold over 0.93 m, beginning 9.50 m below surface in PD-26-480.
• Broader gold-bearing intervals span the Main Layer and Matinenda Conglomerate (“MaC”), including 0.97 g/t gold over 5.15 m in PD-26-486 and 0.51 g/t gold over 10.26 m in PD-26-487.
• Phase 3 drilling is underway, with approximately 6,000 metres in 155 holes planned to expand the area tested by drilling from 1.2 km² to 3.55 km².

Wesley Whymark, CEO & Director, comments: “These results give us a strong finish to the Phase 2 drill program. We continue to see high-grade gold in the Main Layer close to surface, together with broader gold-bearing intervals across the stacked layers. Hole PD-26-404 is a great example, returning 4.47 g/t gold over 2.19 metres starting less than 11 metres below surface.”

“With the Phase 2 drilling now complete, we can bring the full set of results into our maiden resource estimate. That is an important milestone for Pardo. At the same time, Phase 3 is designed to expand the area tested by drilling to almost three times its current size. We have a lot to look forward to as we advance the shallow Main Layer DSO opportunity and test the different gold-bearing layers to see how large this gold system could become.”

FINAL PHASE 2 DRILLING RESULTS

The final 89 holes follow the results from 100 holes reported on September 23, 2026. Selected assay intervals are presented in Table 1, with collar details in Table 2. The locations of the holes reported in this release are shown in Figure 1.

The Main Layer continues to return higher-grade gold close to surface. These results support the Company’s focus on the shallow part of the Main Layer for its direct ship ore (“DSO”) strategy, which aims to deliver material to an existing processing facility. Higher-grade intervals occur within the Main Layer that also contains wider intervals of lower-grade gold mineralization.

Additional Main Layer results include 2.56 g/t gold over 1.06 m in PD-26-418, 1.54 g/t gold over 2.45 m in PD-26-419 and 1.33 g/t gold over 2.78 m in PD-26-459. The final drilling, together with the Company’s bulk sampling data, will provide important information on how gold grades vary within the Main Layer and help define the geological model and geostatistical analysis for the maiden mineral resource estimate.

Pardo’s gold occurs in several nearly horizontal rock layers, including conglomerate, a rock made up of rounded pebbles held together by finer material. Because the holes were drilled vertically through these layers, the reported intervals approximate the true thickness of the mineralized rock. The simplified section in Figure 2 shows how the gold-bearing layers are stacked above and below the Main Layer.

Phase 3 will test these layers for additional areas of high-grade gold. Phase 2 drilling has demonstrated this potential in the Matinenda Layer, where PD-26-297 returned 2.82 g/t gold over 2.43 m, including 10.51 g/t gold over 0.50 m (see news release July 6, 2026).

BROADER GOLD MINERALIZATION ACROSS STACKED LAYERS

The results also add to the broader lower-grade gold opportunity described in the September 23, 2026 news release. In the western part of the drilled area, PD-26-485 returned 0.45 g/t gold over 9.77 m, PD-26-486 returned 0.97 g/t gold over 5.15 m and PD-26-487 returned 0.51 g/t gold over 10.26 m. These intervals span both the Main Layer and the underlying Matinenda Conglomerate Layer, with higher-grade sections within the broader mineralized intervals.

Gold was also returned from layers above the Main Layer, including 0.24 g/t gold over 3.93 m in the Upper Conglomerate (“MiPC”) in PD-26-482 and 0.34 g/t gold over 3.66 m in the Lower Sandstone (“MiBS”) in PD-26-487. Together, the results add further evidence of gold mineralization across multiple layers at Pardo (Figure 2).

Some of these lower-grade intervals may not be economic on their own but could still have value where they must be removed to access the Main and Matinenda layers. If this material can be processed, which may include heap leaching, gold recovered from these layers could help offset part of the cost of removing rock that would otherwise be treated as waste. The lower-grade material will be further tested, and any potential cost benefit remains subject to metallurgical testing and economic evaluation.

The shallow, higher-grade Main Layer remains the focus of the DSO strategy, while the wider intervals across several layers provide a broader bulk-tonnage opportunity for evaluation. Additional exploration could also identify higher-grade areas within the Matinenda, Upper Conglomerate and Lower Sandstone layers, potentially adding to Pardo’s overall scale and development options. Further resource estimation, metallurgical testwork and economic studies will be needed to determine what material could be developed economically.

MAIDEN RESOURCE ESTIMATE AND PHASE 3 DRILLING

All Phase 2 drilling results, including the final assays reported today, will be incorporated into the upcoming maiden mineral resource estimate, targeted for mid-November 2026. The initial estimate will cover the previously drilled area and is intended to provide a resource foundation for advancing the Company’s DSO plan.

As announced on October 20, 2026, Phase 3 drilling commenced on October 14. The approximately 6,000-metre, 155-hole program is designed to test an additional 2.35 km² of favourable geology, expanding the area tested by drilling from 1.2 km² to 3.55 km². The program will test extensions of the Main Layer and other gold-bearing layers, with the goal of supporting a potentially larger mineral resource estimate in the future.

Phase 3 will also test the shallow, sulphide-rich Matinenda Layer in the western part of the project. Inventus is evaluating whether this material can be upgraded through ore sorting to produce a second potential DSO product. Further metallurgical testing and commercial evaluation are required.

NEXT STEPS

• Complete the maiden mineral resource estimate, targeted for mid-November 2026, incorporating the full Phase 2 drill results.
• Advance Phase 3 drilling and report results as available.
• Continue advancing the Main Layer DSO strategy and metallurgical and ore-sorting testwork on the Matinenda Conglomerate.
• Advance plans to resume bulk sampling, with approximately 10,000 tonnes stockpiled and a further 20,000 tonnes permitted for extraction.

For further information visit www.inventusmining.com, or contact:

Wesley Whymark
CEO & Director
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005

Social Media Accounts

https://x.com/InventusMining
http://ca.linkedin.com/company/inventus-mining
https://www.youtube.com/@inventusmining
https://www.facebook.com/people/Inventus-Mining/61587627317147/ 

Figure 1. Plan map showing the locations of the final 89 Phase 2 drill holes reported in this release and previously reported Phase 2 drilling.

Figure 2. Simplified geological section illustrating the shallow, stacked gold-bearing layers at the Pardo “River of Gold” Project, including the MiPC, MiBS, Main Layer (MiBC) and Matinenda Layer (MaC).

Table 1. Final Phase 2 drilling assay highlights.

Drill Hole	From (Metres)	To (Metres)	Zone1	Interval2 (Metres)	Gold Grade (g/t)
PD-26-388	15.00	16.54	MiBC	1.54	0.37
PD-26-389	8.25	12.00	MiBC	3.75	0.49
Including	9.69	10.08	MiBC	0.39	1.19
PD-26-390	7.56	12.92	MiBC	5.36	0.47
Including	11.50	12.91	MiBC	1.41	1.37
Including	12.41	12.91	MiBC	0.50	2.37
PD-26-402	9.67	12.58	MiBC	2.91	0.60
Including	11.11	12.58	MiBC	1.47	1.03
Including	12.11	12.58	MiBC	0.47	2.53
PD-26-403	9.36	10.29	MiBC	0.93	0.72
PD-26-404	10.81	13.00	MiBC	2.19	4.47
Including	11.23	12.50	MiBC	1.27	7.26
Including	11.23	11.73	MiBC	0.50	12.41
PD-26-405	13.05	14.60	MiBC	1.55	1.04
Including	13.55	14.22	MiBC	0.67	1.92
PD-26-406	14.98	17.17	MiBC	2.19	3.39
Including	15.34	15.95	MiBC	0.61	9.40
Including	15.65	15.95	MiBC	0.30	16.01
PD-26-407	3.50	7.00	MiPC	3.50	0.25
And	14.50	18.02	MiBC	3.52	0.37
Including	16.26	18.02	MiBC	1.76	0.61
Including	16.26	16.76	MiBC	0.50	1.26
PD-26-408	6.27	12.38	MiBC	6.11	0.49
Including	11.00	12.38	MiBC	1.38	1.73
Including	11.37	11.67	MiBC	0.30	5.23
PD-26-409	7.83	10.83	MiBC	3.00	0.32
Including	10.13	10.83	MiBC	0.70	0.73
PD-26-410	8.51	11.71	MiBC	3.20	0.95
Including	10.42	11.71	MiBC	1.29	2.16
Including	10.82	11.23	MiBC	0.41	5.73
PD-26-411	10.29	12.31	MiBC	2.02	0.39
Including	11.00	12.31	MiBC	1.31	0.50
PD-26-412	13.06	16.00	MiBC	2.94	0.99
Including	15.04	16.00	MiBC	0.96	2.41
PD-26-413	1.50	2.95	MiPC	1.45	0.26
And	13.63	14.66	MiBC	1.03	1.51
Including	14.23	14.66	MiBC	0.43	3.02
PD-26-414	0.62	2.87	MiPC	2.25	0.34
And	11.66	14.85	MiBC	3.19	1.25
Including	12.16	12.85	MiBC	0.69	3.73
PD-26-416	14.35	17.80	MiBC	3.45	0.82
Including	16.65	17.42	MiBC	0.77	1.68
PD-26-418	11.62	12.68	MiBC	1.06	2.56
Including	12.00	12.34	MiBC	0.34	4.77
PD-26-419	9.47	11.92	MiBC	2.45	1.54
Including	10.19	11.10	MiBC	0.91	3.70
PD-26-420	9.60	10.73	MiBC	1.13	1.19
Including	10.22	10.47	MiBC	0.25	3.43
PD-26-421	9.00	11.05	MiBC	2.05	0.81
Including	10.67	11.05	MiBC	0.38	2.89
PD-26-422	9.41	11.07	MiBC	1.66	3.31
Including	10.15	10.77	MiBC	0.62	7.25
PD-26-423	10.13	11.48	MiBC	1.35	0.35
PD-26-424	12.98	15.31	MiBC	2.33	2.37
Including	12.98	14.38	MiBC	1.40	3.58
Including	13.48	13.88	MiBC	0.40	8.63
PD-26-430	14.00	15.50	MiPC	1.50	0.32
and	29.20	31.58	MiBS	2.38	0.45
Including	31.22	31.58	MiBS	0.36	1.49
and	36.10	37.50	MaC	1.40	0.30
PD-26-432	29.01	29.45	MaC	0.44	1.48
PD-26-433	23.36	27.21	MiBC	3.85	0.31
PD-26-435	13.55	15.33	MiBC	1.78	0.41
PD-26-438	0.43	3.63	MiBC	3.20	0.44
Including	0.43	0.86	MiBC	0.43	1.46
PD-26-441	4.83	6.13	MiBC	1.30	0.51
Including	4.83	5.15	MiBC	0.32	1.35
PD-26-443	13.48	13.84	MaC	0.36	1.19
PD-26-444	7.54	10.34	MiBC	2.80	0.35
Including	9.94	10.34	MiBC	0.40	1.31
PD-26-445	4.00	4.96	MiBC	0.96	1.65
PD-26-447	2.90	5.19	MiBC	2.29	0.61
Including	3.39	3.86	MiBC	0.47	2.22
PD-26-448	0.58	4.50	MiBC	3.92	0.53
Including	0.96	1.47	MiBC	0.51	2.03
And	8.19	10.26	MaC	2.07	0.44
Including	9.96	10.26	MaC	0.30	1.38
PD-26-450	4.00	5.45	MiBC	1.45	0.41
PD-26-452	0.18	0.48	MiBC	0.30	4.05
And	5.55	7.54	MaC	1.99	0.25
PD-26-455	10.67	11.79	MiBC	1.12	2.44
Including	10.67	11.00	MiBC	0.33	4.12
PD-26-456	10.18	11.37	MiBC	1.19	2.10
Including	10.58	10.99	MiBC	0.41	4.65
PD-26-458	1.54	5.72	MiBC	4.18	0.21
And	12.30	13.84	MiBC	1.54	0.71
PD-26-459	1.90	3.78	MiPC	1.88	0.31
And	10.91	13.69	MiBC	2.78	1.33
Including	11.84	13.69	MiBC	1.85	1.87
Including	13.28	13.69	MiBC	0.41	5.87
PD-26-460	2.88	5.54	MiPC	2.66	0.26
And	9.07	10.35	MiBC	1.28	1.10
Including	9.90	10.35	MiBC	0.45	2.71
PD-26-462	4.24	11.36	MiBC	7.12	0.28
PD-26-463	0.98	3.00	MiBC	2.02	0.24
And	8.86	12.96	MiBC	4.10	1.79
Including	10.53	12.96	MiBC	2.43	2.92
Including	11.04	12.46	MiBC	1.42	4.84
Including	12.00	12.46	MiBC	0.46	6.97
PD-26-464	9.53	11.25	MiBC	1.72	0.78
Including	10.40	11.25	MiBC	0.85	1.46
Including	10.84	11.25	MiBC	0.41	2.19
PD-26-465	9.50	11.40	MiBC	1.90	1.81
Including	10.46	11.40	MiBC	0.94	3.42
PD-26-466	0.51	1.97	MiBC	1.46	0.26
And	9.53	12.00	MiBC	2.47	0.30
PD-26-467	13.08	15.45	MiBC	2.37	0.32
PD-26-468	0.40	1.88	MiBC	1.48	0.24
And	10.31	11.67	MiBC	1.36	2.36
Including	11.21	11.67	MiBC	0.46	6.33
PD-26-469	10.89	12.51	MiBC	1.62	0.84
Including	12.04	12.51	MiBC	0.47	1.28
PD-26-470	0.47	2.26	MiBC	1.79	0.32
And	10.51	12.65	MiBC	2.14	0.38
PD-26-471	1.39	3.52	MiBC	2.13	0.26
And	10.50	13.69	MiBC	3.19	0.87
Including	12.78	13.69	MiBC	0.91	2.68
Including	12.78	13.20	MiBC	0.42	5.24
PD-26-472	0.70	1.62	MiBC	0.92	0.29
And	9.60	11.04	MiBC	1.44	0.58
Including	10.05	10.54	MiBC	0.49	1.14
PD-26-473	0.03	1.21	MiBC	1.18	0.18
And	8.91	10.61	MiBC	1.70	1.33
Including	9.48	9.88	MiBC	0.40	3.63
PD-26-474	5.69	6.65	MiBC	0.96	0.32
PD-26-476	12.10	13.55	MiBC	1.45	1.59
Including	13.09	13.55	MiBC	0.46	4.30
PD-26-477	15.62	16.29	MiBC	0.67	0.90
PD-26-478	8.00	12.98	MiBC	4.98	0.52
Including	12.64	12.98	MiBC	0.34	1.67
PD-26-479	9.23	13.64	MiBC/MaC	4.41	0.87
Including	11.19	11.67	MiBC	0.48	5.59
Including	12.14	13.64	MaC	1.50	0.30
PD-26-480	9.50	11.89	MiBC	2.39	1.65
Including	10.50	11.43	MiBC	0.93	3.71
And	12.73	14.38	MaC	1.65	0.30
PD-26-481	39.77	42.74	MaC	2.97	0.31
PD-26-482	6.23	10.16	MiPC	3.93	0.24
And	35.30	40.70	MaC	5.40	0.33
PD-26-483	32.70	36.54	MaC	3.84	0.32
And	38.54	42.00	MaC	3.46	0.28
PD-26-484	7.17	9.11	MiPC	1.94	0.29
And	23.17	26.17	MiBC	3.00	0.44
Including	25.87	26.17	MiBC	0.30	1.71
And	30.58	34.09	MaC	3.51	0.31
PD-26-485	28.84	38.61	MiBC/MaC	9.77	0.45
Including	29.19	29.55	MiBC	0.36	3.63
Including	37.20	38.61	MaC	1.41	1.17
PD-26-486	25.47	27.33	MiBS	1.86	0.26
And	30.20	35.35	MiBC/MaC	5.15	0.97
Including	30.70	32.00	MiBC	1.30	2.83
Including	31.64	32.00	MiBC	0.36	8.54
Including	33.87	35.35	MaC	1.48	0.68
PD-26-487	15.29	18.95	MiBS	3.66	0.34
And	26.90	37.16	MiBC/MaC	10.26	0.51
Including	29.60	31.32	MiBC	1.72	1.36
Including	30.52	30.94	MiBC	0.42	4.73
Including	34.74	35.24	MaC	0.50	1.56
PD-26-488	22.86	25.66	MiBS	2.80	0.21
And	27.46	30.04	MiBC	2.58	0.23
And	32.07	33.45	MiBC	1.38	0.32
And	37.25	38.83	MiBC	1.58	0.37
PD-26-489	24.60	26.30	MiBC	1.70	0.36
And	28.65	32.50	MiBC/MaC	3.85	0.28
1MiBC – Main Layer; MaC – Matinenda Layer; MiPC – Upper Conglomerate Layer; MiBS – Lower Sandstone.
2Interval width is approximate true thickness. Mineralization has a flat to 5-degree dip, and all holes were drilled vertically with an inclination of -90 degrees.

Table 2. Collar details for the final 89 Phase 2 drill holes. UTM coordinates are NAD 83 Zone 17.

Drill Hole	Inclination (Degrees)	Length (Metres)	Northing (UTM)	Easting (UTM)
PD-26-388	-90	19.5	5183432	556234
PD-26-389	-90	18	5183431	556267
PD-26-390	-90	17.3	5183432	556292
PD-26-400	-90	15.15	5183417	556311
PD-26-401	-90	15	5183416	556295
PD-26-402	-90	16.61	5183416	556267
PD-26-403	-90	19.5	5183417	556228
PD-26-404	-90	17.54	5183410	556201
PD-26-405	-90	18.9	5183395	556214
PD-26-406	-90	19	5183388	556240
PD-26-407	-90	20.5	5183401	556249
PD-26-408	-90	17.54	5183400	556267
PD-26-409	-90	14.57	5183401	556297
PD-26-410	-90	14.5	5183387	556301
PD-26-411	-90	16	5183384	556272
PD-26-412	-90	19	5183370	556261
PD-26-413	-90	17.5	5183347	556206
PD-26-414	-90	17.5	5183330	556218
PD-26-415	-90	16	5183308	556211
PD-26-416	-90	19	5183293	556190
PD-26-417	-90	17.5	5183302	556169
PD-26-418	-90	16	5183307	556153
PD-26-419	-90	14.5	5183308	556136
PD-26-420	-90	14.5	5183310	556121
PD-26-421	-90	14.5	5183295	556107
PD-26-422	-90	14.5	5183292	556131
PD-26-423	-90	16	5183276	556151
PD-26-424	-90	17.5	5183278	556203
PD-26-425	-90	13	5183280	556215
PD-26-430	-90	43	5183017	556777
PD-26-431	-90	38.5	5183131	556940
PD-26-432	-90	35.78	5183183	556910
PD-26-433	-90	38.5	5183202	556939
PD-26-434	-90	31	5183242	556945
PD-26-435	-90	26.5	5183308	556939
PD-26-436	-90	17.63	5183373	556944
PD-26-437	-90	29.5	5183442	556873
PD-26-438	-90	11.5	5183395	556608
PD-26-439	-90	11.54	5183412	556606
PD-26-440	-90	16	5183431	556618
PD-26-441	-90	16.01	5183451	556619
PD-26-442	-90	16	5183479	556619
PD-26-443	-90	17.63	5183503	556626
PD-26-444	-90	14.58	5183492	556611
PD-26-445	-90	16	5183465	556603
PD-26-446	-90	16	5183453	556600
PD-26-447	-90	13.12	5183425	556598
PD-26-448	-90	13	5183460	556581
PD-26-449	-90	14.23	5183479	556589
PD-26-450	-90	14.5	5183505	556617
PD-26-451	-90	10	5183496	556500
PD-26-452	-90	10	5183523	556501
PD-26-453	-90	8.5	5183499	556530
PD-26-454	-90	10	5183527	556525
PD-26-455	-90	13	5183259	556214
PD-26-456	-90	14.5	5183250	556200
PD-26-457	-90	17.5	5183264	556189
PD-26-458	-90	17.5	5183262	556164
PD-26-459	-90	16	5183269	556137
PD-26-460	-90	14.5	5183278	556121
PD-26-461	-90	11.5	5183278	556104
PD-26-462	-90	16	5183282	556085
PD-26-463	-90	17.5	5183237	556132
PD-26-464	-90	13	5183221	556128
PD-26-465	-90	13	5183205	556128
PD-26-466	-90	14.5	5183159	556133
PD-26-467	-90	19	5183227	556161
PD-26-468	-90	17.5	5183240	556193
PD-26-469	-90	16	5183225	556196
PD-26-470	-90	16	5183203	556187
PD-26-471	-90	16	5183176	556184
PD-26-472	-90	13	5183177	556203
PD-26-473	-90	13	5183195	556204
PD-26-474	-90	10	5183222	556217
PD-26-475	-90	8.5	5183239	556221
PD-26-476	-90	19	5183267	556334
PD-26-477	-90	20.5	5183268	556314
PD-26-478	-90	17.5	5183285	556311
PD-26-479	-90	16	5183318	556279
PD-26-480	-90	17.5	5183329	556306
PD-26-481	-90	44.5	5183263	555615
PD-26-482	-90	43	5183235	555640
PD-26-483	-90	44.5	5183284	555642
PD-26-484	-90	38.5	5183226	555687
PD-26-485	-90	40	5183267	555684
PD-26-486	-90	38.5	5183267	555757
PD-26-487	-90	38.5	5183232	555787
PD-26-488	-90	41.5	5183300	555798
PD-26-489	-90	35.5	5183262	555810

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. We have a 100% interest in our principal assets, the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project, located northeast of Sudbury. The Pardo Gold Project is the first important paleoplacer gold discovery in North America. Inventus has approximately 221 million common shares outstanding.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

Technical Information

Drill core samples collected by Inventus and described in this news release were subject to robust QA/QC protocols. PQ-size drill core was placed in core boxes by the contracted drill crew and then transported by Inventus personnel to a secure processing facility in Sudbury, Ontario. The core was reviewed, with core metreage blocks checked to verify core integrity and recovery, geologically logged, and sample intervals marked. Whole-core samples were then photographed and inserted into clean plastic bags with sample tags. Certified reference materials were inserted into the sample stream at a rate of no less than 10%.

Samples were then transported in secure sealed bags with security tags for preparation and assay by MSA Labs or Paragon Geochemical in Timmins, Ontario. Samples were processed, whereby the entire sample was crushed to 80% passing 2 mm and then riffle split into two (2) or three (3) 500-gram jars for gold analysis by PhotonAssay. When duplicate or triplicate samples were analyzed, the results were averaged. MSA Labs and Paragon Geochemical are both ISO 17025:2017 accredited geochemical testing laboratories.

Forward-Looking Statements

This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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