FPX Nickel Outlines 2025 Activities for the Baptiste Nickel Project

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to outline plans for advancement of the Baptiste Nickel Project (" Baptiste " or " the Project ") in 2025. Following the completion of the robust 2023 preliminary feasibility study (" PFS "), the Company's 2025 activities will build on strong progress made in 2024, prioritizing the advancement of further engineering studies, baseline environmental data collection, and continued positive engagement with First Nations and the Provincial and Federal governments in preparation for anticipated entry into the environmental assessment (" EA ") process in the second half of 2025.

"In 2025, FPX is focused on completing the key workstreams to initiate the EA process, which is the key critical path activity for the overall development of the Baptiste Nickel Project," commented Martin Turenne , FPX's President and CEO. "We are committed to working in partnership with the multiple First Nations communities connected to the Project, including the proposed mine site and associated off-site infrastructure such as the powerline and access road. This collaborative approach has resulted in targeting a later entry into the EA process than originally planned, in recognition of the desire by the Company, First Nations and the Provincial and Federal governments to align on the scope and design of the regulatory process in advance of initiating the EA."

Collaboration with Provincial and Federal Governments

In September 2024 , FPX announced that the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province's new Critical Minerals Office (" CMO ") concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The Company is pleased to report that the CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project's entry into the EA process.

The Company has established a CMO working group with Provincial officials; this working group meets on a regular basis, with the CMO providing:

Concierge service for the Baptiste Project with support for EA readiness, funding opportunities and regulatory processes;
Project management support on pre-permitting and pre-regulatory processes, including federal processes; and
Dedicated government resources to assist in the establishment of agreements with First Nations.

FPX has benefited from policy support from the Federal Government through the Canadian Critical Minerals Strategy as well as programmatic support through Natural Resources Canada's Critical Minerals Centre of Excellence throughout 2024. The company has begun early engagement with Federal agencies in preparation of entering the EA process in a similar manner to that with B.C. through the CMO.

Collaboration with Indigenous Communities

FPX is committed to building upon relationships with Indigenous communities through inclusive processes, providing resources to enable engagement and collaborative decision-making, empowering Indigenous communities to advance self-determined goals, and optimizing long-term sustainable benefits and opportunities for communities connected to the Project.

In 2025, the Company will seek to continue to establish agreements with all potential participating Indigenous nations, which per the BC Environmental Assessment process, refers to all Indigenous nations that will participate in the environmental assessment process of a proposed project, including both on- and off-site facilities.

FPX has initiated collaborative Project design activities with First Nations in advance of the EA process. In 2024, the Company supported the formation of a First Nations Working Group involving multiple Nations to define a process for multi-lateral information sharing and collaborative decision-making, with the objectives of working with the Nations to assess and define the project, and to consider socio-economic impacts and opportunities, in order to ensure local communities can maximize benefits from the Project. In 2025, it is expected the First Nations Working Group will establish one or more sub-tables which will enable focused reviews and consideration of various Project parameters, such as mine design and socio-economic considerations and opportunities.

Community Engagement

FPX established a community office in 2024 in Fort St. James , which is located approximately 90 km from the Baptiste Project. The Company hosts regular open houses in Fort St. James which offer the opportunity for local community members to learn about the Company, its employees, and the Project. Open houses will continue on a quarterly basis in 2025, as well as participation by FPX representatives in other information-sharing opportunities with surrounding communities.

FPX's ongoing community initiatives include the Community Contribution Program and Student Bursary Program. The objective of the Community Contribution Program is for FPX to make financial contributions and donations to drive meaningful positive impact in the communities where the Company operates. FPX's Student Bursary Program has been established through Indspire, a Canadian Indigenous-led charity that invests in the education of First Nations, Inuit, and Métis individuals through scholarships, mentorship, and community-driven programs.

Cultural and Environmental Baseline Studies

Cultural and environmental baseline studies have been ongoing for the Baptiste Nickel Project since early 2022 and include surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Ongoing and expanded programs were completed in 2024 in preparation for the EA process. The 2025 program will continue to study the Project area, and includes ongoing wildlife, climate, hydrology, water quality and hydrogeology work.

The cultural and environmental studies for the Project are being conducted by local Indigenous-owned and -affiliated businesses in the Project area. This approach targets the integration of Indigenous perspectives into the scoping and execution of these studies and provides a strong collaborative basis for eventual consultation activities associated with the EA process.

It is anticipated that the Company will have collected sufficient cultural and environmental baseline data to initiate the EA process by the second half of 2025.

Project Design & Engineering

In 2024, FPX established a variety of Feasibility Study (FS) initiatives, including the establishment of a Technical Advisory Committee with representatives from FPX's three strategic investors (see the Company's April 4, 2024 news release), the completion of a mineral processing pilot plant (see the Company's April 30, 2024 news release), and the completion of a comprehensive Value Engineering program which tangibly improved both project value and definition (see the Company's July 10 and July 30, 2024 news releases).

Metallurgy

The FS metallurgy program commenced in 2024, with key efforts including completion of a confirmatory, large-scale pilot testwork program for the concentrator, completion of pilot-scale hydrometallurgical testwork for the off-site refinery, and advancement of ancillary testwork programs to bolster FS design criteria. In 2025, FPX will continue with the FS metallurgy program, with key focus areas to include variability testwork, flotation optimization testwork, and further ancillary testwork to support FS definition.

Results to date from the FS metallurgy program, as previously reported, either validate or improve on the metallurgy basis as presented in the PFS. The FS testwork program is expected to run through to the first half of 2026, with material findings to be released as appropriate.

Feasibility Study Planning

In connection with the environmental and cultural baseline study works ongoing at Baptiste since 2022, FPX will conduct the first phase of FS engineering field investigations in the summer of 2025. This year's program will focus on long-lead data collection that will support the EA process, as well as improved engineering definition within the open-pit footprint.

Approximately 2,800 m of geomechanical drilling, hydrogeological drilling, and condemnation drilling is planned around the Project site in 2025, with most of the meterage focused within the open-pit footprint. The second phase of the FS engineering field investigation program will be undertaken in 2026 and will include resource in-fill drilling, further geomechanical drilling, further hydrogeological drilling, and ex-pit geotechnical drilling.

Following the completion of the second phase of engineering field investigations, the Feasibility Study is expected to be completed in 2027.

Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km ² west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/18/c9299.html

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FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project (" Baptiste " or the " Project "). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne , FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

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FPX Nickel and JOGMEC Initiate Exploration at the Expanded Klow Property in British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce planned exploration activities at the Company's Klow property (" Klow " or the " Property "), located 45 km north of the Company's Baptiste Nickel Project. Exploration will be 100% funded by the Japan Organization for Metals and Energy Security (" JOGMEC ") under the terms of an earn-in agreement which provides JOGMEC the option to earn up to a 60% interest in the Property. The Company has recently expanded the mineral claims at Klow by 600%, bringing the Property to 164 km 2 and is currently preparing a wide-ranging surface rock sampling program over the summer of 2025 with the goal of advancing Klow to drill-ready status.

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FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of its affiliate company, CO2 Lock Corp. (" CO2 Lock ").

Background

In 2022, FPX announced the formation of CO2 Lock as a self-funding subsidiary to pursue geoscience-related carbon capture and storage (" CCS ") opportunities via permanent mineralization of carbon dioxide. FPX retains 100% of the carbon credits associated with CCS on FPX's own properties, and can use any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

Since its inception, CO2 Lock has completed multiple field programs at its flagship SAM site in central British Columbia , including a successful CCS field program in 2023, which included drilling an exploration well. This achievement marked a significant milestone in the development of CO2 Lock's innovative in-situ CO ₂ mineralization technology.

Commercial Updates

In recent months, CO2 Lock has achieved several commercial milestones, including the signing of preliminary agreements with key counterparties in the CCS value chain as follows:

Letter of Intent with Cielo Carbon Solutions (" Cielo ") and Carbon Quest outlining the framework for capturing and sequestering 100,000 tonnes of CO ₂ per year, scaling up to a target of 1 million tonnes per year. This strategic relationship combines Cielo and Carbon Quest's point-source carbon capture solution with CO2 Lock's storage solution to create an end-to-end value chain from industrial emitters to the permanent storage of carbon dioxide.
Memorandum of Understanding with Ionada Carbon Solutions LLC (" Ionada ") to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market. The collaboration will integrate Ionada's proprietary carbon capture technology with CO2 Lock's permanent mineralization storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.
Letter of Intent with a leading carbon marketplace platform (the " Platform "), under which the Platform will purchase up to 33% of the carbon credits generated annually from CO2 Lock's flagship SAM carbon sequestration site, representing the potential for over 300,000 verified carbon credits (tonnes) per year.

Following the successful field program in 2023, CO2 Lock has submitted an application for a carbon capture and storage exploratory reservoir license with British Columbia's Ministry of Energy and Climate Solutions. Receipt of this license would provide CO2 Lock with the regulatory approval to advance the project towards commercial operations at the SAM project.

CO2 Lock Financing and Restructuring

CO2 Lock recently completed the final $600,000 tranche of its latest funding round, which raised a cumulative total of $1.7 million through a Simple Agreement for Future Equity (" SAFE ") from third-party investors. Since its inception, CO2 Lock has raised a total of approximately $3.4 million from third-party investors.

In connection with the closing of the SAFE round, FPX and CO2 Lock have agreed to a restructuring of CO2 Lock's capital structure such that FPX's undiluted ownership interest in CO2 Lock has been reduced from approximately 88% (prior to the SAFE round) to 30% (on conclusion of the SAFE round). This restructuring better positions CO2 Lock to seek additional funding from third party investors going forward, while ensuring that FPX retains a meaningful ownership interest in CO2 Lock and enduring rights to utilize CO2 Lock's intellectual property for the benefit of FPX's own properties.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Announces Board and Management Changes

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Dan Apai, P. Eng., as the Company's Vice President, Projects effective May 1, 2025 . Mr. Apai succeeds Andrew Osterloh who will be departing his role as a Company employee on May 9, 2025 . Further, the Company is pleased to announce that Mr. Osterloh will be nominated for election as a Board member at the Company's annual general meeting to be held on June 26, 2025 .

Martin Turenne , President and CEO of FPX stated, "On behalf of the Board of Directors, I would like to thank Andrew for his dedication and service to the Company. During Andrew's tenure and under his leadership, the Company has significantly improved the development basis for the Baptiste Nickel Project, including progressing technical maturity in the areas of metallurgy, engineering, and execution planning. We are grateful for his efforts and wish him the very best going forward."

Mr. Turenne continued, "I am delighted to welcome Dan to our senior management team. Dan has been a valuable contributor since he joined the Company in January 2023 as our Engineering Manager. Dan brings a wealth of knowledge from prior experience developing and commissioning multiple large-scale projects and his deep familiarity with Baptiste will ensure a smooth transition as we further advance the Project."

"We are very happy to welcome Andrew to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Andrew has demonstrated exceptional leadership in progressing Baptiste through the development of the prefeasibility and refinery studies. His deep understanding of the Project and strategic insights will be a significant asset to our Board. We look forward to his contributions as a Board member to the Company's continued success."

Mr. Osterloh joined FPX in June 2021 , bringing with him extensive experience from project management roles at Fluor Canada and site operations positions at several notable mining projects, including Eskay Creek (that is now being redeveloped by Skeena Gold & Silver) and Huckleberry, operated by Imperial Metals, both located in British Columbia . Mr. Osterloh will be assuming the role of VP, Engineering & Construction at Skeena Gold & Silver, as the Company undertakes redevelopment of the Eskay Creek Project.

Mr. Apai, the Company's Engineering Manager since January 2023 , has over twenty years' mining industry experience in civil engineering and engineering management over a diverse range of projects. As Principal Civil Engineer for Fluor Canada, he led study and detailed engineering works for numerous large-scale mining projects for clients including Teck, Newmont, BHP, First Quantum, Glencore, Josemaria Resources, and Newcrest. Dan's technical expertise includes site layout, earthworks, water management, linear facilities (i.e., roads, powerlines, pipelines), and water supply systems – all elements that strongly influence the capital intensity, permitability, and operability of mining projects. Mr. Apai is a Member of the Association of Professional Engineers of British Columbia and holds a Bachelor of Engineering from the University of Western Australia .

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high grade product that does not required any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km ² west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Provides Update on 2025 Community Initiatives

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on recent community investment initiatives. FPX is committed to positively contributing to the communities where we operate through investments in programs or organizations that address inequality and are strongly aligned with Company values. FPX established the Community Office in 2024 in Fort St. James which is located approximately 90 km from the Baptiste Nickel Project (the " Project "). The Company hosts regular open houses which offer the opportunity for local community members to learn about the Company, its employees, and the Project, and to provide early feedback to inform the Company's activities.

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Lumina Gold Announces Securityholder Approval of Acquisition by CMOC

Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF) (the "Company" or "Lumina " ) is pleased to announce that, the holders ( "Shareholders" ) of common shares of the Company ( "Shares" ), holders of options of the Company ( "Optionholders" ) and holders of restricted share units of the Company (the "RSU Holders" and together with the Shareholders and Optionholders, the "Securityholders" ) have voted in favour of the previously announced acquisition of the Company with CMOC Singapore Pte. Ltd., a Singapore entity and a subsidiary of CMOC Group Limited (collectively "CMOC" ) pursuant to a plan of arrangement under the Business Corporations Act ( British Columbia ) (the "Arrangement" ) at the Company's special meeting of Securityholders (the "Meeting" ) held earlier today.

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Juggernaut Files For Final Approval Of $1,100,000 From Institutions and Accredited Investors

(TheNewswire)

Vancouver, British Columbia June 16, 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its June 4 and June 12, 2025, news releases, the Company is pleased to announce that it has filed documents with the TSX Venture Exchange (the "Exchange") seeking final approval to close its private placement financing (the "Financing") for aggregate gross proceeds of $1,100,000.

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Juggernaut Files For Final Approval Of $1,100,000 From Institutions and Accredited Investors

(TheNewswire)

Vancouver, British Columbia June 16, 2025 TheNewswire - Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its June 4 and June 12, 2025, news releases, the Company is pleased to announce that it has filed documents with the TSX Venture Exchange (the "Exchange") seeking final approval to close its private placement financing (the "Financing") for aggregate gross proceeds of $1,100,000.

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Element	Units	Nickel Sulphate Crystals
Element	Units	Baptiste Typical Sample	Target Specification ¹
Nickel	wt%	>22	>22
Aluminum	ppm
Arsenic	ppm
Calcium	ppm	2
Cadmium	ppm
Cobalt	ppm	2
Chromium	ppm
Copper	ppm
Iron	ppm	1
Potassium	ppm
Magnesium	ppm	1
Manganese	ppm
Sodium	ppm
Lead	ppm
Silicon	ppm
Zinc	ppm	1
Note 1: Based on review of industrially available products and battery producers' requirements

Special Resolution: the full text of which is set forth in Appendix "A" to the management information circular of Lumina dated May 14, 2025 (the "Circular"), approving, among other things, a plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) involving Lumina Gold Corp., CMOC Singapore Pte. Ltd., and 1536188 B.C. Ltd. ("Acquireco")
	Outcome of Vote	*For*	*Against*
By Shareholders.	Approved	319,473,072 (99.76%)	780,679 (0.24%)
By Securityholders, voting as a single class.	Approved	354,386,404 (99.78%)	780,679 (0.22%)
By Shareholders (excluding votes attached to the Shares required to be excluded for the purposes of "minority approval" under MI 61-101).	Approved	292,613,632 (99.73%)	780,679 (0.27%)

David Southam	Ernest Mast	Media:
Executive Chair	President & Managing Director	Paul Armstrong
T: +61 8 6118 1627	T: +1 647 921 0501	Read Corporate
E: info@cygnusmetals.com	E: info@cygnusmetals.com	T: +61 8 9388 1474

Hole ID	X	Y	Z	Azi	Dip	Depth	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)	Ag (g/t)	CuEq (%)
CB-25-108	554726	5509910	398	90	-47	660	337.3	339.7	2.4	2.9	0.3	10.3	3.2
						&	395.6	396.5	0.8	5.1	0.3	18.4	5.5
						&	472.9	475.3	2.4	2.3	0.2	7.7	2.5
CB-25-109	554876	5509948	400	77	-54	525	184.7	186.8	2.1	3.1	0.2	13.0	3.3
CB-25-117	554721	5509892	401	108	-63	558	457.5	460.0	2.5	4.0	0.1	11.7	4.1
CB-25-118	554721	5509892	401	112	-71	648	545.0	554.1	9.1	4.1	0.3	14.4	4.4
						Including	549.6	553.1	3.4	7.0	0.4	24.9	7.6
CB-25-119	554618	5510020	394	119	-57	661	573.3	576.1	2.8	4.6	0.4	14.6	5.0
CB-25-120	554618	5510020	394	108	-66	657	626.0	628.8	2.8	3.8	0.2	16.3	4.1
CB-25-121	554618	5510020	394	117	-63	659	618.2	620.3	2.0	1.9	0.3	8.8	2.2
CB-25-122	554618	5510020	394	105	-62	633	583.8	589.5	5.8	4.4	0.8	28.1	5.3

Hole ID	X	Y	Z	Azi	Dip	Depth	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)	Ag (g/t)	CuEq (%)
CB-24-101	554757	5511009	389	80	-50	525	No Significant Intercept
CB-24-102	554653	5510648	381	90	-67	954	No Significant Intercept
CB-24-107	554726	5509910	400	91	-57	480	458.6	460.0	1.4	2.1	0.2	6.6	2.3
CB-25-110	554876	5509948	400	97	-48	474	264.8	267.0	2.2	1.8	0.1	5.2	1.9
CB-25-111	554920	5509857	400	103	-58	504	441.8	444.2	2.4	4.0	0.3	12.2	4.3
CB-25-112	555049	5509802	400	90	-45	303	244.7	247.4	2.7	1.1	0.0	4.3	1.1
CB-25-113	554905	5509725	400	96	-52	471	No Significant Intercept
CB-25-114	554905	5509725	400	96	-63	564	No Significant Intercept
CB-25-115	554876	5509948	400	120	-61	621	313.0	314.8	1.9	1.6	0.1	6.1	1.7
							333.2	335.0	1.8	4.5	0.1	16.3	4.7
							583.0	586.5	3.5	0.9	0.1	2.2	1.0
CB-25-116	554826	5509709	397	90	-64	645	535.0	537.9	2.9	0.8	0.1	2.4	0.9
							606.3	607.5	1.2	1.3	0.1	3.9	1.5

Deposit	Category	Tonnes (k)	Cu Grade (%)	Au Grade (g/t)	Cu Metal (kt)	Au Metal (koz)	CuEq Grade (%)
Corner Bay (2022)	Indicated	2,700	2.7	0.3	71	22	2.9
Corner Bay (2022)	Inferred	5,900	3.4	0.3	201	51	3.6
Devlin (2022)	Measured	120	2.7	0.3	3	1	2.9
	Indicated	660	2.1	0.2	14	4	2.3
	Measured & Indicated	780	2.2	0.2	17	5	2.4
	Inferred	480	1.8	0.2	9	3	2.0
Joe Mann (2022)	Inferred	610	0.2	6.8	1	133	5.5
Cedar Bay (2018)	Indicated	130	1.6	9.4	2	39	8.9
Cedar Bay (2018)	Inferred	230	2.1	8.3	5	61	8.5
Total	Measured & Indicated	3,600	2.5	0.6	90	66	3.0
Total	Inferred	7,200	3.0	1.1	216	248	3.8

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	All drilling conducted by Cygnus Metals at the Chibougamau Project was completed under the supervision of a registered professional geologist as a Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting. All Cygnus drilling reported is NQ size (47.8 mm diameter).
	Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used.	All sample collection, core logging, and specific gravity determinations were completed by Cygnus Metals under the supervision of a professionally qualified registered geologist. NQ core was marked for splitting during logging and is sawn using a diamond core saw with a mounted jig to assure the core is cut lengthwise into equal halves. Half of the cut core is placed in clean individual plastic bags with the appropriate sample tag. QA/QC is done in-house by Cygnus Metals geologists with oversight from the Senior Geologist. The check samples (blanks and standards – 4% of total samples with another 2% of core duplicates taken on half split core) that were inserted into the sample batches are verified against their certified values and are deemed a pass if they are within 3 standard deviations of the certified value. The duplicates are evaluated against each other to determine mineralization distribution (nugget). If there are large discrepancies in the check samples, then the entire batch is requested to be re-assayed. The samples are then placed in bags for shipment to the offsite laboratory's facility. The remaining half of the core is retained and incorporated into Cygnus's secure, core library located on the property.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard' work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Industry standard sampling practices were used with sample lengths ranging from 0.3 m to 1.0 m and respected geological contacts. Sample tags were placed at the beginning of each sample interval and the tag numbers were recorded in an MS Excel database. Sampling practice is considered to be appropriate to the geology and style of mineralisation.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Diamond core was drilled using surface diamond rigs with industry recognised contractors Miikan Drilling. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory. Drilling was conducted using NQ core size. Directional surveys have been taken at 50m intervals.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Diamond core recovery was measured for each run and calculated as a percentage of the drilled interval. Overall, the core recoveries are excellent in the Chibougamau area. As a result, no bias exists.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	All core was geologically and geotechnically logged. Lithology, veining, alteration and mineralisation are recorded in multiple tables of the drillhole database.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Geological logging of core is qualitative and descriptive in nature.
	The total length and percentage of the relevant intersections logged.	100% of the core has been logged.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	The NQ diameter the core was sawn in half following a sample cutting line determined by geologists during logging and submitted for analysis on nominal 1m intervals or defined by geological boundaries determined by the logging geologist. Each core sample is assigned a tag with a unique identifying number. Sample lengths are typically one metre but can be depending on zone mineralogy and boundaries. This sampling technique is industry standard and deemed appropriate. Sample sizes are considered appropriate to grain size of the materials being sampled.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Sample (NQ size half core) preparation and fire assay analysis were done at Bureau Veritas Commodities Canada Ltd ("BV") in Timmins, Ontario, and ICP-ES multi-elements analysis was done at BV in Vancouver, B.C. Samples were weighed, dried, crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 µm. Samples are fire assayed for gold (Au) (50 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo). Samples with visible gold or likely to have gold grains are analysed with metallic screen fire assay. Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 50 g charge. Samples assaying >10% Cu are re-analysed with a sodium peroxide fusion with ICP-ES analysis using a 0.25 g charge.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	None used.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	At Bureau Veritas, laboratory QC procedures involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Verification of sampling was made by Cygnus Metals and other professional consultant geologists.
	The use of twinned holes.	No hole is twinned.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	All logging data was completed, core marked up, logging and sampling data was entered directly into the database. The logged data is stored on the site server directly.
	Discuss any adjustment to assay data.	There was no adjustment to the assay data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	The location of the drill holes and the aiming points for the orientation of the drill holes were indicated on the ground using identified stakes. The stakes marking the location of the drillholes were set up and located with a Garmin GPS model "GPSmap 62s" (4m accuracy). Surveys are collected using a Reflex EZ-Shot® single-shot electronic instrument with readings collected at intervals of approximately every 30 m downhole plus a reading at the bottom of the hole.
	Specification of the grid system used.	The grid system used is UTM NAD83 (Zone 18).
	Quality and adequacy of topographic control.	A Digital Terrane Model (DTM) has been used to accurately plot the vertical position of the holes, which is considered to provide an adequate level of topographic control.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The drill spacing for recent drilling is considered appropriate for this type of exploration. Due to the historic nature and mix of underground and surface drilling the drill hole spacing for historic drill results is highly variable.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	No resource estimation is made.
	Whether sample compositing has been applied.	No sample compositing has been applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Recent drilling is orientated approximately at right angles to the currently interpreted strike of the known interpreted mineralisation. Due to the historic nature of the drilling the drill hole orientation for historic drill results is highly variable.
Orientation of data in relation to geological structure	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	No bias is considered to have been introduced by the existing sampling orientation.
Sample security	The measures taken to ensure sample security.	Core was placed in wooden core boxes close to the drill rig by the drilling contractor. The core was collected daily by the drilling contractor and delivered to the secure core logging facility. Access to the core logging facility is limited to Cygnus employees or designates.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits or reviews of sampling techniques or data have been undertaken, therefore information on audits or reviews is not yet available.

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