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1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce that it has engaged RJLL Drilling to carry out the Company's upcoming diamond drilling program at Sullipek East, part of its SV2 property in the Gaspé Peninsula of Québec.
A diamond drill currently located in Murdochville is expected to mobilize to Sullipek East on or about November 1, 2026, immediately following the conclusion of the local moose hunting season. The timing of the program has been planned to respect seasonal land-use activities while positioning the Company to commence drilling as soon as practicable thereafter.
The drilling crew assigned to the program has recent operating experience in the Murdochville area, including work on exploration activities at the Gaspé Copper project. This experience provides the crew with familiarity with the local operating environment and the logistics associated with exploration activities in the region.
The program will be overseen by Bernard-Olivier Martel, P.Geo., Director of Exploration for 1844, who has worked extensively in the Murdochville area over the past three years and will lead the geological component of the Company's exploration program.
Operations Based in Murdochville
1844 intends to base its upcoming exploration operations in Murdochville, approximately 25 kilometres from the SV2 property.
The Company has secured access to existing facilities in Murdochville for the logging, processing and management of drill core generated during the program. The combination of a locally based drill, an experienced drilling crew, local geological expertise and existing core-handling facilities provides 1844 with the operating infrastructure required to execute the upcoming program from Murdochville.
Sylvain Laberge, President and CEO of 1844 Resources, commented:
"Our focus is now on execution in the field. With a drill already located in Murdochville, an experienced crew and the facilities required to manage the program locally, the principal operating components are being put in place ahead of mobilization.
"The recent experience of both our drilling crew and Bernard-Olivier Martel in the Murdochville area gives us valuable local knowledge as we prepare to begin drilling at Sullipek East. We expect to mobilize immediately following the moose hunting season and commence the program as soon as access conditions permit."
Sullipek East Drill Program
The Company is preparing to commence its previously announced drill program at Sullipek East, where historical drilling has identified significant copper mineralization. The program is designed to further evaluate the known mineralized system while testing geological and geophysical targets identified through the Company's recent exploration work.
Additional details regarding final drill targets and planned meterage will be provided as the Company advances toward mobilization.
Insider Participation in the Private Placement
Certain insiders of the Company participated in the recently completed private placement as disclosed on August 11, 2026 and September 11, 2026 (the "Offering") for an aggregate of 908,333 units of the Company ("Units"), representing aggregate gross proceeds to the Company of $29,624.99, or approximately 2.4% of the total Units issued pursuant to the Offering.
Of the insider participation, insiders subscribed for an aggregate of 475,000 flow-through units ("Flow-Through Units"), representing approximately 2.6% of the Flow-Through Units issued under the Offering, and 433,333 non flow-through units ("Hard Dollar Units"), representing approximately 4.2% of the Hard Dollar Units issued under the Offering, for total gross proceeds of $29,624.99. For additional information on the terms of the Flow-Through Units and Hard Dollar Units, please see the Company's news release dated September 11, 2026.
The participation by insiders in the Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
About 1844 Resources Inc.
1844 Resources Inc. is a Canadian mineral exploration company focused on the exploration and development of copper and other critical mineral opportunities in the Gaspé Peninsula of Québec. The Company's principal asset is the SV2 property, located west of Murdochville in an established copper district.
For further information, please contact:
Sylvain Laberge
President and Chief Executive Officer
1844 Resources Inc.
514.702.9841
Slaberge@1844resources.com
Forward-Looking Statements
This news release contains certain statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the timing and completion of drill mobilization, the commencement and execution of the Company's planned drilling program, access conditions, planned drill targets and meterage, and the Company's exploration activities at Sullipek East and the SV2 property.
Forward-looking information is based on assumptions considered reasonable by management as of the date such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated. There can be no assurance that such forward-looking information will prove to be accurate.
The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable securities laws.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315645
