Hudbay Announces Significant New Discovery at its Copper World Properties Adjacent to Rosemont

  • Drill hole #035A intersected 500 feet of 0.82% copper starting at surface
  • Drill hole #012 intersected 246 feet of 0.70% copper starting at surface
  • Drill hole #011 intersected 440 feet of 1.38% copper
  • All new intersections are on Hudbay's wholly-owned private land

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced the intersection of high-grade copper sulphide and oxide mineralization at shallow depth on its wholly-owned patented mining claims located within seven kilometres of its Rosemont copper project in Arizona. The drill program was initiated in 2020 to confirm historical drilling in this past-producing copper region formerly known as Helvetia. After receiving encouraging initial results, the company launched a larger drill program in early 2021 and has since doubled the number of drill rigs at site to six to further test the four known deposits at Copper World and the potential for additional mineralization.

"This new discovery on our private land in Arizona demonstrates our team's strong expertise in exploration," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "They saw an opportunity to consolidate mineralization in the region and we are excited to continue to explore Copper World while remaining committed to advancing Rosemont through the appeals process."

Regional View of Copper World

The Copper World deposits are located adjacent to the Rosemont deposit as shown in the plan view in Figure 1. To date, four deposits have been identified with a combined strike length of over five kilometres with opportunities to discover additional mineralization between the deposits. The mineralization occurs at shallower depths than at Rosemont as shown in Figure 2.

"We are very encouraged by the results from the recent drill program at Copper World, where we have intersected copper mineralization that contains higher grades closer to surface than at Rosemont," said Cashel Meagher, Hudbay's Senior Vice President and Chief Operating Officer. "Copper World has the potential to host at least four economic deposits with a relatively low strip ratio and may prove to be a viable open-pit operation that is either separate from or additive to our Rosemont project."

The Copper World region has a rich history of mining from 1874 to 1969, during which time more than 20 small underground mines produced a total of approximately 440,000 tons at an average copper grade of 4.42%. Figure 3 illustrates the historical mining activity in the region. This is the first time the region has been explored as a zone of continuous mineralization.

A three-dimensional visualization of the Copper World drill results can be found at the link noted below. This visual shows the location of the Copper World targets, the historical mine sites in the area, the historical drilling coverage (the results of which are under review and will be reported once the data is validated by Hudbay in accordance with NI 43-101), as well as drill hole intercepts from Hudbay's 2020 drill campaign.

https://vrify.com/embed/decks/Hudbay-PR-Deck-03-29

Copper World 2020 Drill Program

Hudbay's 2020 exploration work began by compiling and validating all historical data on its private land claims and refining the geological model. This initial review included the discovery of records of historical drilling results for which assay results cannot be disclosed until the data is validated by Hudbay in accordance with NI 43-101. However, this review suggested the potential for both copper sulphide and oxide mineralization in skarns and porphyries near surface in several areas. In September 2020, the company initiated a 15,000-foot drill program which was quickly expanded to a 40,000-foot drill program after early encouraging intersections of mineralization. During this initial program, three drill rigs focused on testing the Broad Top Butte, Copper World, Peach and Elgin targets (referred to collectively as the "Copper World deposits").

Hudbay has recently received the assay results from the 2020 drill program and the results have exceeded Hudbay's expectations. The program confirmed the discovery of four new deposits based on significant volumes of high-grade copper sulphide and oxide mineralization starting, in most cases, near surface or at shallow depth.

Broad Top Butte Targets

  • Drill hole #011 intersected 440 feet of 1.38% copper, including 70 feet of 4.2% copper
  • Drill hole #012 intersected 246 feet of 0.70% copper starting at surface
  • Drill hole #023 intersected 300 feet of 0.91% copper

The 2020 drilling at Broad Top Butte confirmed the occurrence of significant shallow copper oxide and sulphide mineralization. Sulphide mineralization was found in a quartz-monzonite porphyry intrusive and in surrounding skarns at the contact with carbonate units in a similar geological setting as Rosemont. Drill hole #011 intersected a very strong mineralized zone of 440 feet of 1.38% copper starting at 365 feet from surface, including 70 feet of 4.2% copper in a massive sulphide zone with chalcopyrite and bornite in skarn (please refer to Figure 4 for a visual of the drill core). This high-grade sulphide mineralization appears to be similar in copper content to the historical production from the nearby King Exile mine located approximately 200 feet to the north of this drill hole intersection. King Exile mine was discovered in 1899 and was in production until 1959. Copper oxide mineralization was found in the upper portion of the mineralized zones both in porphyry and skarns. The drilling also intersected significant mineralization in areas with no historical drilling along a major regional structure, known as the backbone fault. This domain consists of quartzite and other sedimentary units located along a north trending steep dipping fault zone that hosts significant oxide mineralization that can be mapped on surface almost as a continuum from Broad Top Butte to the Rosemont deposit. Notably, drill hole #012 intersected 246 feet of 0.70% copper from surface. The samples included in this mineralized interval were also tested for their solubility in sulfuric acid to measure the copper content in oxides. The average grade of soluble copper in sulfuric acid (CuSS) is 0.53% indicating that approximately 75% of the copper is contained in oxides and easily recoverable by a proven and low-cost leaching technology. Please refer to Figure 5 for a visual of the drill core from hole #012.

Peach and Elgin Targets

  • Drill hole #035A intersected 500 feet of 0.82% copper starting at surface
  • Drill hole #037 intersected 600 feet of 0.40% copper starting at surface
  • Drill hole #048 intersected 280 feet of 0.46% copper starting at surface
  • Drill hole #051 intersected 140 feet of 1.01% copper starting at surface
  • Drill hole #062 intersected 300 feet of 0.64% copper starting at surface

All of the 2020 drill holes at the Peach target included at least one significant mineralized intercept. Many included high-grade thick intercepts starting at or very near surface, with significant copper oxide in the upper portion of the profile. Drill hole #035A intersected 500 feet of 0.82% copper from surface with 40% of the copper in oxides (please refer to Figure 6 for a visual of this intersection). Similarly, hole #062 intersected 300 feet of 0.64% copper from surface with 40% of the copper in oxides.

At the Elgin target, shallow mineralization also starts at surface in most cases. Drill hole #051 intersected 140 feet of 1.01% copper from surface and hole #048 intersected 280 feet of 0.46% copper from surface. The Elgin deposit remains open to the south and to the east where another porphyry intrusive similar in geometry and nature as those identified at Rosemont and Broad Top Butte appears to be the main controlling feature associated with the occurrence of copper mineralization.

Next Steps

Given the very positive results from last year's drill program, Hudbay initiated a second phase of exploration drilling in 2021 with a 70,000 foot follow-up drill program and has doubled the number of drill rigs operating at site to six. The 2021 program will focus on developing an understanding of the full extent of the mineralization at the Copper World deposits and potentially defining initial mineral resource estimates. Mineralogical studies and metallurgical testing have also been initiated and are expected to continue in the coming months. Geophysical surveys are underway to assist in generating further targets in this prolific region. Hudbay has a current exploration budget of approximately $10 million for its Arizona properties in 2021 which is likely to increase with further exploration success. Hudbay will review the results from its 2021 exploration program to determine the next steps for its Copper World properties and the potential synergies with Rosemont.

Copper World Detailed Assay Results

Broad Top Butte - Copper World

Hole ID# From
(ft)
To
(ft)
Length
(ft)
Length
(m)
Cu 1
(%)
Ag 1
(g/t)
CuSS 1,2
(%)
Mo 1
(g/t)
Location
002 No significant mineralization Broad Top
005 15 48 33 10 0.75 19.2 0.53 121 Broad Top
005 48 133 85 26 1.43 8.7 0.05 206 Broad Top
006 0 340 340 104 0.43 3.0 pending 173 Broad Top
007 0 121 121 37 0.19 1.2 0.11 13 Broad Top
007 121 415 294 90 0.52 2.8 0.06 198 Broad Top
008 No significant mineralization Broad Top
009 No significant mineralization Broad Top
010 0 180 180 55 0.20 1.5 0.13 83 Broad Top
011 365 805 440 134 1.38 6.2 0.04 33 Broad Top
014 No significant mineralization Broad Top
015 0 290 290 88 0.28 1.2 0.16 105 Broad Top
016 0 280 280 85 0.71 3.7 0.29 149 Broad Top
017 55 425 370 113 0.30 1.1 0.22 151 Broad Top
018 0 524 524 160 0.30 2.3 0.01 97 Broad Top
019 0 675 675 206 0.44 1.7 0.12 190 Broad Top
020 0 357 357 109 0.59 3.6 0.23 161 Broad Top
023 100 400 300 91 0.91 2.7 0.48 196 Broad Top
024A 130 500 370 113 0.33 1.1 0.25 184 Broad Top
027 310 450 140 43 0.39 2.4 0.10 64 Broad Top
032 No significant mineralization Broad Top
012 0 246 246 75 0.70 3.3 0.53 42 Broad Top
013 0 60 60 18 0.37 1.4 0.29 15 Broad Top
013 190 335 145 44 0.38 2.2 0.17 50 Broad Top
034 80 195 115 35 0.67 4.0 0.17 53 Broad Top
001 No significant mineralization Copper World
003 6 217 211 64 0.38 1.4 0.04 333 Copper World
004 26 122 96 29 0.30 3.9 0.20 28 Copper World

Note: Assay results are length-weighted because no specific gravity data is available. At this early stage of exploration, Hudbay does not have sufficient knowledge of the geometry of the mineralization to estimate true width.

  1. All copper, silver and molybdenum values are uncut.
  2. CuSS shows the average grade of soluble copper in sulfuric acid.

Peach

Hole ID#

From
(ft)
To
(ft)
Length
(ft)
Length
(m)
Cu 1
(%)
Ag 1
(g/t)
CuSS 1,2
(%)
Mo 1
(g/t)
021 0 250 250 76 0.31 6.7 0.23 36
022 0 300 300 91 0.32 2.0 0.14 29
025 0 150 150 46 0.34 2.4 0.24 119
025 320 393 73 22 0.39 1.2 0.19 102
026 0 390 390 119 0.35 3.2 0.21 228
029 0 370 370 113 0.36 2.9 0.27 15
031 0 335 335 102 0.50 3.1 0.21 42
035A 0 500 500 152 0.82 4.3 0.33 53
037 0 600 600 183 0.40 2.7 0.13 60
039 0 460 460 140 0.44 2.9 0.19 77
041 260 440 180 55 0.29 3.7 0.02 112
042 0 160 160 49 0.42 4.4 0.28 63
045 180 610 430 131 0.32 3.2 0.04 96
046 0 220 220 67 0.37 4.8 0.27 78
046 390 490 100 31 0.30 4.5 0.18 54
046 545 740 195 59 0.29 2.6 0.03 78
050B 0 610 610 186 0.37 2.9 0.24 26
054 0 280 280 85 0.56 3.0 0.42 32
057 0 415 415 126 0.36 3.6 0.24 48
058 0 445 445 136 0.52 3.6 0.17 56
062 0 300 300 91 0.64 6.0 0.25 87
063 0 327 327 100 0.24 3.5 pending 59
065 0 188 188 57 0.56 4.3 0.27 84

Note: Assay results are length-weighted because no specific gravity data is available. At this early stage of exploration, Hudbay does not have sufficient knowledge of the geometry of the mineralization to estimate true width.

  1. All copper, silver and molybdenum values are uncut.
  2. CuSS shows the average grade of soluble copper in sulfuric acid.

Elgin

Hole ID#

From
(ft)
To
(ft)
Length
(ft)
Length
(m)
Cu 1
(%)
Ag 1
(g/t)
CuSS 1,2
(%)
Mo 1
(g/t)
028 No significant mineralization
030 100 230 130 40 0.65 2.9 0.10 72
033 No significant mineralization
036 No significant mineralization
038 No significant mineralization
040 0 180 180 55 0.25 5.2 0.05 127
043 No significant mineralization
044 No significant mineralization
047 No significant mineralization
048 0 280 280 85 0.46 2.8 0.03 189
049 0 130 130 40 0.44 2.7 0.08 186
051 0 140 140 43 1.01 4.5 0.40 214
052 0 35 35 11 0.81 4.7 0.63 36
053 0 280 280 85 0.71 8.2 0.21 129
055 0 100 100 30 0.88 9.2 0.34 64
056 No significant mineralization
059 40 144 104 32 0.39 2.5 0.15 129
060 15 87 72 22 0.27 2.3 0.12 44
061 No significant mineralization
064 75 185 110 34 0.50 3.5
0.05 99
066 0 88 88 27 0.35 3.5 0.10 98

Note: Assay results are length-weighted because no specific gravity data is available. At this early stage of exploration, Hudbay does not have sufficient knowledge of the geometry of the mineralization to estimate true width.

  1. All copper, silver and molybdenum values are uncut.
  2. CuSS shows the average grade of soluble copper in sulfuric acid.

Qualified Person and NI 43-101

The scientific and technical information contained in or incorporated by reference into this news release has been prepared under the supervision of Olivier Tavchandjian, P. Geo., Hudbay's Vice President, Exploration and Geology. Mr. Tavchandjian is a "Qualified Person" for purposes of National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101").

Mr. Tavchandjian has verified the exploration data disclosed in this news release, including sampling, analytical, and test data underlying the information or opinions expressed herein. The data verification and quality assurance / quality control (QA/QC) measures that were used as part of the Copper World drill program are summarized below:

  • Drill core was removed from the core tube by drilling contractors and placed in labelled core boxes. Core was logged by geologist, photographed, measured for conductivity, and tagged with sample tags. Core was cut in half and placed in labeled sample bags with the sample tags and transported to the sample preparation lab of Bureau Veritas in Reno, Nevada by courier in locked trucks.

  • Samples were prepared and assayed following standard analytical protocols at the Bureau Veritas Mineral Laboratories in Reno (NV) and Vancouver (BC). Samples were dried, crushed to 70% -passing 2mm (10 mesh), then riffle split and pulverized until 85% passing 75μm (-200 mesh). Analyses were carried using a combination of Inductively Coupled Plasma Mass Spectrometry (ICP-MS) and Inductively Coupled Plasma Emission Spectroscopy (ICP-ES), following multi acid digestion (Method MA200) to achieve near total dissolution. Gold was analyzed by fire assay with AAS finish (Method FA430). Samples with concentration of Cu>8000 ppm and Mo>1000 ppm, were reanalyzed multi acid (Method MA370 ICP-ES/MS) for base-metal sulphide and precious-metal ores. Non-sulphide Cu (Soluble Cu) was analyzed by Sulphuric acid leach (Method LH402) with AAS finish. QA/QC included the insertion of 6% of samples as blanks, 6% as standards (from 4 certified reference materials) and 5% as pulp duplicates.

  • Failure rates were low in all cases and no significant QA/QC issue was identified.

Further details on the drill holes reported in this news release, including the location, azimuth, and dip of the drill holes and the depth of the sample intervals, can be found in the section titled "Supplemental Drill Hole Information" at the end of this news release.

Hudbay is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data disclosed in this news release.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, but is not limited to, our expectations regarding the future potential of the Copper World deposits, our plans for additional drilling and other exploration work on the Copper World deposits, the potential to identify additional mineralization and declare an estimate of mineral resources at the Copper World deposits and our plans and expectations regarding the Rosemont project and any related legal challenges. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information.

The material factors or assumptions that Hudbay identified and were applied by the company in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, our ability to continue to operate safely and at full capacity during the COVID-19 pandemic; the availability, global supply and effectiveness of COVID-19 vaccines, the effective distribution of such vaccines in the countries in which we operate, the lessening of restrictions related to COVID-19, and the anticipated rate and timing for each of the foregoing. .

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks associated with the COVID-19 pandemic and its effect on our operations, financial condition, projects and prospects, the possibility of a global recession arising from the COVID-19 pandemic and attempts to control it, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), risks associated with the Rosemont litigation as well as the risks discussed under the heading "Risk Factors" in Hudbay's most recent Annual Information Form.

Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, you should not place undue reliance on forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

About Hudbay

Hudbay (TSX, NYSE: HBM) is a diversified mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and copper projects in Arizona and Nevada (United States). The company's growth strategy is focused on the exploration, development, operation and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay's vision is to be a responsible, top-tier operator of long-life, low-cost mines in the Americas. Hudbay's mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol "HBM" on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Further information about Hudbay can be found on www.hudbay.com .

For further information, please contact:

Candace Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com

Supplemental Drill Hole Information

Broad Top Butte - Copper World

Hole ID#
From (m) To (m) Azimuth at
Intercept

Dip at
Intercept

Core
Size

Easting Northing Elevation Easting Northing Elevation
002 1,714,210 11,562,659 5,321 1,714,215 11,562,664 4,821 360 -89 HQ
005 1,714,722 11,562,538 5,401 1,714,722 11,562,538 5,368 360 -89 HQ
005 1,714,722 11,562,538 5,368 1,714,722 11,562,539 5,283 360 -89 HQ
006 1,714,722 11,562,538 5,416 1,714,916 11,562,399 5,175 126 -45 HQ
007 1,715,169 11,561,514 5,609 1,715,177 11,561,600 5,524 5 -45 HQ
007 1,715,177 11,561,600 5,524 1,715,192 11,561,814 5,323 4 -43 HQ
008 1,714,457 11,561,497 5,666 1,714,464 11,561,906 5,244 1 -46 HQ
009 1,715,169 11,561,514 5,609 1,715,150 11,561,260 5,173 185 -60 HQ
010 1,714,457 11,561,497 5,666 1,714,534 11,561,601 5,542 36 -44 HQ
011 1,715,625 11,562,568 5,336 1,715,338 11,562,395 5,051 239 -40 HQ
014 1,715,845 11,562,706 5,592 1,715,434 11,562,001 4,954 210 -38 HQ
015 1,714,238 11,560,902 5,794 1,714,040 11,560,843 5,590 253 -45 HQ
016 1,714,983 11,561,612 5,600 1,715,017 11,561,809 5,404 10 -45 HQ
017 1,714,858 11,561,822 5,678 1,714,986 11,562,059 5,427 28 -43 HQ
018 1,714,983 11,561,612 5,600 1,714,658 11,561,397 5,250 236 -42 HQ
019 1,714,838 11,561,786 5,717 1,714,534 11,562,189 5,270 323 -41 HQ
020 1,714,983 11,561,612 5,600 1,715,119 11,561,834 5,355 31 -43 HQ
023 1,714,841 11,561,787 5,617 1,714,850 11,561,792 5,317 360 -88 HQ
024A 1,714,744 11,561,832 5,641 1,714,871 11,562,087 5,397 26 -41 HQ
027 1,714,515 11,561,890 5,525 1,714,428 11,561,956 5,438 307 -38 HQ
032 1,714,703 11,561,748 5,727 1,714,689 11,561,741 5,327 360 -88 HQ
012 1,714,266 11,560,396 5,898 1,714,093 11,560,352 5,728 256 -44 HQ
013 1,714,266 11,560,396 5,898 1,714,266 11,560,396 5,838 360 -90 HQ
013 1,714,267 11,560,396 5,708 1,714,267 11,560,396 5,662 360 -90 HQ
034 1,714,395 11,560,793 5,602 1,714,337 11,560,784 5,503 261 -59 HQ
001 1,712,054 11,564,442 4,781 1,711,852 11,564,325 4,377 240 -60 HQ
003 1,712,877 11,564,049 4,908 1,712,784 11,563,998 4,725 241 -60 HQ
004 1,713,394 11,563,836 4,936 1,713,353 11,563,838 4,850 274 -65 HQ

Peach

Hole ID#
From (m) To (m) Azimuth at
Intercept

Dip at
Intercept

Core
Size

Easting Northing Elevation Easting Northing Elevation
021 1,704,256 11,565,321 4,342 1,704,256 11,565,323 4,092 360 -90 HQ
022 1,704,256 11,565,321 4,342 1,704,467 11,565,328 4,127 88 -46 HQ
025 1,703,973 11,566,564 4,405 1,704,048 11,566,555 4,276 97 -59 PQ
025 1,704,135 11,566,547 4,130 1,704,172 11,566,542 4,067 97 -59 PQ
026 1,703,973 11,566,564 4,405 1,703,974 11,566,566 4,015 360 -90 PQ
029 1,704,177 11,567,282 4,327 1,704,409 11,567,187 4,054 112 -47 PQ
031 1,704,177 11,567,282 4,327 1,704,179 11,567,279 3,992 360 -89 PQ
035A 1,704,324 11,566,915 4,427 1,704,081 11,566,945 3,991 277 -61 PQ
037 1,704,968 11,565,363 4,388 1,704,555 11,565,357 3,952 269 -47 PQ
039 1,704,324 11,566,915 4,427 1,704,323 11,566,910 3,967 360 -89 PQ
041 1,704,885 11,566,271 4,152 1,704,887 11,566,272 3,972 360 -89 PQ
042 1,704,968 11,565,363 4,388 1,704,967 11,565,362 4,228 360 -89 PQ
045 1,704,831 11,566,157 4,283 1,704,702 11,565,893 3,970 206 -47 PQ
046 1,704,691 11,566,281 4,529 1,704,690 11,566,126 4,372 181 -45 PQ
046 1,704,687 11,566,008 4,249 1,704,686 11,565,940 4,176 181 -47 PQ
046 1,704,684 11,565,903 4,136 1,704,681 11,565,775 3,989 181 -49 PQ
050B 1,704,639 11,565,573 4,491 1,704,231 11,565,493 4,092 259 -44 PQ
054 1,704,303 11,565,761 4,489 1,704,109 11,565,767 4,288 272 -46 PQ
057 1,704,663 11,565,578 4,514 1,704,663 11,565,577 4,099 360 -90 HQ
058 1,704,303 11,565,761 4,489 1,704,297 11,565,767 4,044 360 -89 HQ
062 1,704,150 11,566,150 4,531 1,703,998 11,566,137 4,272 265 -60 HQ
063 1,704,895 11,565,803 4,463 1,704,662 11,565,793 4,233 268 -45 HQ
065 1,704,150 11,566,150 4,531 1,704,144 11,566,152 4,343 360 -88 HQ

Elgin

Hole ID#
From (m) To (m) Azimuth at
Intercept

Dip at
Intercept

Core
Size

Easting Northing Elevation Easting Northing Elevation
028 1,705,619 11,565,228 4,336 1,705,623 11,565,222 4,003 360 -89 PQ
030 1,705,653 11,565,168 4,264 1,705,696 11,565,089 4,169 151 -47 PQ
033 1,705,538 11,565,538 4,340 1,705,282 11,565,550 4,079 272 -46 PQ
036 1,705,538 11,565,538 4,340 1,705,535 11,565,541 3,942 360 -89 PQ
038 1,706,741 11,564,738 4,369 1,706,743 11,564,528 4,148 180 -46 PQ
040 1,706,741 11,564,738 4,369 1,707,017 11,564,750 4,103 87 -44 PQ
043 1,706,741 11,564,738 4,369 1,706,741 11,564,738 4,058 360 -90 PQ
044 1,706,741 11,564,738 4,369 1,706,812 11,564,978 4,133 17 -43 PQ
047 1,706,741 11,564,738 4,369 1,706,499 11,564,787 4,130 281 -43 PQ
048 1,706,164 11,564,567 4,319 1,705,962 11,564,586 4,125 275 -44 HQ
049 1,706,164 11,564,567 4,319 1,706,166 11,564,566 4,189 360 -89 HQ
051 1,706,248 11,564,755 4,332 1,706,147 11,564,764 4,237 275 -43 HQ
052 1,706,248 11,564,755 4,332 1,706,248 11,564,755 4,297 360 -90 HQ
053 1,706,021 11,565,023 4,401 1,705,821 11,565,023 4,202 270 -45 HQ
055 1,706,021 11,565,023 4,401 1,706,021 11,565,022 4,301 360 -90 HQ
056 1,705,941 11,564,086 4,309 1,705,938 11,564,203 4,198 358 -43 HQ
059 1,706,478 11,564,345 4,318 1,706,407 11,564,345 4,243 269 -47 HQ
060 1,706,506 11,564,335 4,337 1,706,506 11,564,284 4,286 180 -45 HQ
061 1,706,506 11,564,346 4,348 1,706,607 11,564,314 4,241 108 -45 HQ
064 1,706,513 11,564,399 4,296 1,706,523 11,564,478 4,219 8 -44 HQ
066 1,706,506 11,564,346 4,348 1,706,505 11,564,346 4,260 360 -90 HQ


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Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

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