StrategX Increases the Size of the Nagvaak Critical Metals Discovery on the Melville Peninsula in Northern Canada

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") is pleased to announce a considerable advancement reporting additional positive assay results for surface rock samples and drill core from its 100%-owned (2,665-hectare) Nagvaak property. This confirms the discovery of additional zones of critical metals on surface and at depth. These results expand the length of the mineralized corridor to over 6 kilometres and correlate well with previously interpreted geophysical anomalies. The exploration team is focused on prioritizing drill targets and preparing a first phase of drilling to potentially define a large polymetallic deposit in nickel, copper, vanadium, molybdenum, zinc, and precious metals at Nagvaak.

Exploration Highlights

New assay results confirm continuity of mineralized zones containing critical metals in a corridor with dimensions ~ 6km by 500m, which is open in all directions.
Highly anomalous polymetallic results in 33 out of 45 surface rock samples including notably high values of copper, nickel, molybdenum, vanadium, and zinc.
Drill core returned anomalous polymetallic values in multiple intervals near surface in hole 3 and deeper in hole 7, confirming mineralization continues at depth.
The mineralization observed is similar to that previously reported in drill hole 14 located 2.3km west, where 58 metres of 2.63% copper-equivalent was intersected [Link here].
Detailed studies of drill core including graphitic carbon assay results and petrography characterizing the mineralogy are pending. The Company believes this analysis will aid in developing the geological narrative at Nagvaak and the associated regional belt holding a large mineral system in critical metals.

Prospecting Program

Surface sampling in conjunction with diamond drill core logging and sampling support the continuity along strike length and at depth of the previously defined Nagvaak mineralized zones. Figure 1 shows the location of the new rock grab sample assay results. Highly anomalous rock samples are consistently found in gossanous graphitic schist outcrop, which coincide with geophysical conductivity and magnetic anomalies. These results will assist in prioritizing drill targets. Detailed sample assay results from 45 surface rock samples are displayed in Table 2 below. Notable statistics from this program include the following:

Silver (Ag) - 10 samples > 10 g/t, up to 44.5 g/t
Copper (Cu) - 17 samples > 0.2% including 9 > 0.3%, up to 1.09%
Molybdenum (Mo) - 34 samples > 0.025%, including 10 > 0.05%, up to 0.194%
Nickel (Ni) - 13 samples > 0.25%, up to 0.46%
Vanadium (V) - 27 samples > 0.2%, including 11 > 0.3%, up to 0.498%
Zinc (Zn) - 8 samples > 0.5%, up to 13.05%

Figure 1. Surface mineralized rock sample anomalies at Nagvaak Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_001full.jpg

Drill Core Sampling Program

In addition to the previously released holes 1 and 2 on this section, hole 3 up-dip and hole 7 down-dip of the projected mineralized zone were sampled. Figure 2 displays the results of the six additional zones of the observed mineralized core.

Drill holes 1, 2, 3 and 7 were drilled on the same section across the width of the zone, at about 40m spacing. Assay results from holes 3 and 7 suggest that the metalliferous zones observed in holes 1 and 2 delineate a zone of 150m minimum in width, rather than being confined to a narrow corridor. Projection of this 150m width to the existing surface exposures of similarly mineralized zones has been traced to over 5000m along the trend indicating significant tonnage potential. Assay results from core samples show impressive values for multiple critical metals: up to 1% copper, 1% nickel, 1% vanadium pentoxide, 0.19% molybdenum, 5% zinc, 44 g/t silver and 1 g/t gold plus platinum group elements and can be found throughout the property. These high assay values occur as high-grade single commodity zones as well as polymetallic zones.

The results obtained to date from the historical drill holes are contributing to prioritizing drill targets knowing the Nagvaak mineral system is very large. Petrographic and graphite analyses are still pending and will contribute to this evaluation. Target Areas 1, 4 and 7 have the potential to host a very large tonnage critical metals deposit close to the surface, with grades greater than 1% nickel-equivalent or 2% copper equivalent and including high-grade vanadium pentoxide greater than 0.5%.

Figure 2. Section 8425E looking west- showing added mineralized intervals in drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_002full.jpg

Table 1: Drill core results - Mineralized Intervals

Interval	Drill Hole #	From (m)	To (m)	Width (m)	Au+PGE (g/t)	Ag (g/t)	Cu (%)	Mo (%)	Ni (%)	V (%)	V2O5 (%) **	Zn (%)
3a	NAG96-03	12.00	18.00	6.00	0.11	6.76	0.11	0.04	0.19	0.26	0.47	0.13
3b	NAG96-03	37.35	38.35	1.00	0.09	3.40	0.07	0.02	0.13	0.24	0.43	0.02
3c	NAG96-03	43.00	54.00	11.00	0.24	6.63	0.14	0.04	0.24	0.26	0.46	0.03
7a	NAG96-07	80.10	88.19	8.09	0.05	4.10	0.05	0.02	0.15	0.12	0.22	0.72
7b	NAG96-07	100.00	104.00	4.00	0.04	3.47	0.07	0.02	0.09	0.10	0.28	0.60
7c	NAG96-07	108.00	120.40	12.40	0.08	3.67	0.10	0.03	0.19	0.19	0.24	0.14
1a*	NAG96-01	5.20	10.20	5.00	0.06	7.76	0.09	0.03	0.14	0.13	0.23	1.12
1b*	NAG96-01	34.30	39.40	5.10	0.04	4.66	0.08	0.03	0.12	0.16	0.29	0.79
1c*	NAG96-01	47.00	47.90	0.90	0.02	23.73	0.04	0.00	0.03	0.03	0.06	0.29
1d*	NAG96-01	52.40	88.90	35.69	0.01	0.65	0.12	0.03	0.25	0.17	0.31	0.63
2a*	NAG96-02	9.25	19.00	9.75	0.05	6.15	0.07	0.02	0.13	0.10	0.19	0.59
2b*	NAG96-02	25.20	26.18	0.98	0.03	3.71	0.05	0.03	0.04	0.11	0.19	1.14
2c*	NAG96-02	46.65	85.08	38.43	0.11	6.12	0.12	0.03	0.21	0.21	0.37	0.69
2d*	NAG96-02	105.45	108.05	2.60	0.23	3.74	0.09	0.03	0.19	0.29	0.51	0.09

* Denotes previously released intervals - source of the core is from the 1997 drill program completed by BHP.
** Calculated stoichiometrically from elemental Vanadium.

Table 2: Surface Rock results in Target Area 7

SAMPLE	Au	Pt	Pd	Ag	Cu	Mo	Ni	V	V₂O₅	Zn
	(g/t)	(g/t)	(g/t)	(g/t)	(%)	(%)	(%)	(%)	(%) **	(%)
NF22 001	0.01	0.00	0.01	2.16	0.03	0.00	0.03	0.01	0.02	0.01
NF22 002	0.02	0.01	0.08	7.93	0.24	0.11	0.24	0.33	0.59	0.04
NF22 012	0.03	0.02	0.09	7.85	0.14	0.03	0.17	0.21	0.38	0.07
NF22 013	0.01	0.01	0.02	2.43	0.04	0.05	0.04	0.14	0.25	13.05
NF22 014	0.02	0.02	0.12	11.70	0.23	0.10	0.21	0.28	0.50	0.16
NF22 015	0.02	0.00	0.23	8.14	0.25	0.00	0.37	0.03	0.06	0.11
NF22 016	0.06	0.01	0.04	15.40	0.06	0.05	0.04	0.15	0.27	0.01
NF22 017	0.11	0.01	0.04	10.50	0.07	0.02	0.05	0.18	0.32	4.31
NF22 018	0.00	0.00	0.05	7.30	0.04	0.03	0.04	0.16	0.28	0.02
NF22 019	0.00	0.13	0.04	10.20	0.01	0.03	0.01	0.21	0.37	0.02
NF22 020	0.05	0.02	0.54	18.45	0.49	0.04	0.08	0.29	0.52	0.10
NF22 021	0.09	0.07	0.27	11.90	0.42	0.09	0.28	0.37	0.67	0.07
NF22 022	0.24	0.02	0.22	3.18	0.15	0.01	0.29	0.36	0.64	0.08
NF22 024	0.00	0.03	0.05	1.76	0.13	0.05	0.21	0.31	0.54	0.06
NF22 025	0.00	0.02	0.06	2.30	0.13	0.04	0.48	0.26	0.47	0.02
NF22 026	0.01	0.07	0.09	2.26	0.16	0.03	0.26	0.20	0.35	0.22
NF22 027	0.03	0.03	0.11	3.59	0.19	0.03	0.20	0.18	0.32	0.03
NF22 028	0.01	0.01	0.11	2.78	0.22	0.03	0.34	0.21	0.37	0.93
NF22 029	0.00	0.03	0.07	4.95	0.17	0.04	0.11	0.22	0.40	0.03
NF22 030	0.00	0.04	0.06	5.74	0.18	0.02	0.06	0.26	0.47	0.05
NF22 031	0.01	0.01	0.08	3.23	0.14	0.05	0.17	0.17	0.30	0.03
NF22 032	0.00	0.02	0.12	3.24	0.14	0.02	0.14	0.38	0.67	0.02
NF22 033	0.01	0.00	0.02	7.23	0.22	0.03	0.21	0.16	0.28	0.82
NF22 034	0.01	0.01	0.08	7.70	0.40	0.19	0.21	0.26	0.47	0.11
NF22 035	0.01	0.00	0.00	6.87	0.44	0.03	0.33	0.20	0.36	0.01
NF22 036	0.02	0.14	0.10	1.81	0.17	0.04	0.35	0.50	0.89	0.02
NF22 037	0.03	0.01	0.02	2.72	0.13	0.03	0.13	0.14	0.25	0.43
NF22 038	0.03	0.06	0.04	4.10	0.17	0.08	0.20	0.41	0.74	0.02
NF22 039	0.04	0.03	0.09	6.74	0.31	0.04	0.13	0.22	0.40	0.71
NF22 040	0.02	0.01	0.03	6.32	0.23	0.03	0.24	0.32	0.58	0.03
NF22 041	0.03	0.01	0.06	4.99	0.22	0.07	0.30	0.27	0.48	0.02
NF22 042	0.21	0.03	0.01	4.44	0.15	0.06	0.46	0.40	0.71	0.01
NF22 043	0.01	0.00	0.13	16.00	0.31	0.02	0.26	0.12	0.21	0.10
NF22 044	0.03	0.02	0.05	5.34	0.25	0.04	0.36	0.24	0.43	0.01
NF22 045	0.26	0.03	0.15	2.05	0.14	0.05	0.25	0.30	0.54	0.05
NF22 201	0.13	0.03	0.21	44.50	1.09	0.03	0.14	0.28	0.49	1.38
NF22 202	0.02	0.02	0.03	15.35	0.37	0.07	0.22	0.31	0.56	0.03
NF22 203	0.01	0.00	0.05	12.35	0.05	0.04	0.05	0.14	0.24	0.18
NF22 204	0.01	0.00	0.05	8.72	0.07	0.03	0.06	0.16	0.29	0.27
NF22 205	0.00	0.01	0.04	4.72	0.06	0.01	0.16	0.12	0.21	0.13
NF22 206	0.01	0.00	0.07	11.00	0.13	0.03	0.18	0.25	0.44	1.20
NF22 207	0.00	0.00	0.03	7.75	0.18	0.05	0.08	0.18	0.32	0.67
NF22 208	0.01	0.04	0.02	10.65	0.34	0.02	0.27	0.27	0.47	0.22
NF22 209	0.00	0.00	0.00	1.20	0.03	0.00	0.01	0.02	0.04	0.01
NF22 210	0.00	0.01	0.02	2.65	0.07	0.01	0.15	0.08	0.14	0.01

** Calculated stoichiometrically from elemental Vanadium

Figure 3a. Critical metals grade profile for drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_003full.jpg

Figure 3b. Critical metals grade profile for drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_004full.jpg

Qualified Person

The geological and technical data contained in this press release was reviewed and approved by Gary Wong, P. Eng., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Sampling & QA/QC

All core samples were of historically sawn half-core and no verification of the original sawing and sampling techniques, or core recovery calculations was possible. Samples taken were of pre-existing half-core and submitted to ALS Geochemistry for analysis. Samples were crushed entirely to 70% passing - 2mm, 250g split off and pulverized to better than 85% passing 75 microns. Multi-Element Ultra Trace uses a four-acid digestion performed on a 0.25g sample to quantitatively dissolve most geological materials culminating in analytical analysis performed with a combination of ICP-AES and ICP-MS (method ME-MS61). From there, either PGM-ICP23 or Au-ICP21 was used, depending on whether platinum group metals were suspected. Both methods use a 30g lead fire assay with ICP-AES finish.

Field grab samples were analyzed using the same methods, with the only difference being that the entire sample was submitted.

No field QA/QC samples (blanks, duplicates, and standards) were inserted because appropriate QA/QC samples are still being sourced.

About StrategX

StrategX is a Canadian-based exploration company focused on discovering critical metals in northern Canada. With five strategic projects situated on the East Arm of the Great Slave Lake, Northwest Territories and the Melville Peninsula, Nunavut, we're leading discovery in untapped regions. This first-mover advantage in underexplored regions presents a unique opportunity for investors to be part of multiple discoveries and the development of new districts for critical metals essential for the global green energy transition. For updates and the latest insights, explore our Investor Portal.

On Behalf of the Board of Directors

Darren G. Bahrey
CEO, President & Director

For further information, please contact:

StrategX Elements Corp.
info@strategXcorp.com
Phone: 778.231.2767

For further information about the Company, please visit our website at www.strategxcrop.com

Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

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Table 1 - StrategX Assay Results (2024)
Northing	Easting	Silver (Ag) ppm	Copper (Cu) ppm	Copper (Cu) %
488362	6903463	24.9	>10000	1.28
488374	6903459	54.5	>10000	5.11
488415	6903479	7.0	>10000	6.05
488440	6903303	0.7	336	0.03
488395	6903282	1.9	267	0.03
488384	6903272	1.4	661	0.06
488376	6903258	2.8	1320	0.13
488432	6903261	1.1	52.5	0.01
488444	6903278	0.6	249	0.03
488483	6903343	10.0	>10000	2.65
488559	6903391	42.6	>10000	10.10
488585	6903403	33.2	>10000	2.91

Hole ID	X	Y	Z	Azi	Dip	Depth (m)	From (m)	To (m)	Interval (m)	Au (g/t)	Cu (%)	AuEq (g/t)
LDR-25-05	549448	5525296	375	227	-45	214.2	131.7	135.0	3.3	6.6	0.0	6.6
						Including	131.7	134	2.3	9.1	0.0	9.1
LDR-25-06	549560	5525483	375	215	-51	474.0	Pending Assays
LDR-25-07	549453	5525313	375	215	-55	261.0
LDR-25-08	549524	5525441	375	246	-57	516.0
LDR-25-09	549445	5525319	375	238	-54	252.0
LDR-25-10	549489	5525229	375	220	-60	237.0

Hole ID	From	To	Interval	Mineral 1	%	Mineral 2	%	Mineral 3	%	Visible Gold		Total Sulphide (%)
LDR-25-08	89.0	90.0	1.0	Pyrite	2.0					-		2.0
LDR-25-08	166.4	211.1	44.7	Pyrite	0.5					-		0.5
LDR-25-08	211.1	216.0	4.9	Pyrite	0.1					-		0.1
LDR-25-08	216.0	216.6	0.6	Pyrite	1.0					-		1.0
LDR-25-08	216.6	354.8	138.2	Pyrite	0.1					-		0.1
LDR-25-08	360.4	361.3	0.9	Chalcopyrite	0.5	Pyrite	1.0			-		1.5
LDR-25-08	363.9	392.1	28.2	Chalcopyrite	0.3	Pyrite	0.5			-		0.8
LDR-25-08	392.1	397.3	5.3	Pyrite	0.3					-		0.3
LDR-25-08	397.3	405.6	8.3	Chalcopyrite	0.1					-		0.1
LDR-25-08	405.6	406.1	0.5	Chalcopyrite	0.3	Pyrite	30.0			-		30.3
LDR-25-08	406.1	407.9	1.8	Chalcopyrite	0.5	Pyrite	1.5			-		2.0
LDR-25-08	407.9	408.3	0.4	Pyrite	7.0	Chalcopyrite	0.1			-		7.1
LDR-25-08	408.3	409.0	0.7	Pyrite	0.1					-		0.1
LDR-25-08	409.0	409.4	0.4	Pyrite	25.0	Chalcopyrite	25.0			-		50.0
LDR-25-08	409.4	411.7	2.3	Chalcopyrite	3.0	Pyrite	7.0			-		10.0
LDR-25-08	411.7	411.9	0.2	Sphalerite	2.0	Chalcopyrite	0.5	Pyrite	15.0	-		17.5
LDR-25-08	411.9	415.1	3.2	Chalcopyrite	1.0	Pyrite	3.0			-		4.0
LDR-25-08	415.1	420.8	5.8	Chalcopyrite	0.3	Pyrite	1.0			-		1.3
LDR-25-08	420.8	423.3	2.4	Chalcopyrite	1.5	Pyrite	2.5			-		4.0
LDR-25-08	423.3	428.3	5.1	Chalcopyrite	0.1	Pyrite	0.1			-		0.2
LDR-25-08	428.3	455.0	26.7	Pyrite	0.5					-		0.5
LDR-25-08	457.6	458.1	0.4	Sphalerite	0.1	Chalcopyrite	1.0	Pyrite	0.5	-		1.6
LDR-25-08	461.2	461.8	0.6	Chalcopyrite	2.0					-		2.0
LDR-25-08	463.8	464.6	0.9	Chalcopyrite	5.0	Pyrite	2.0			0.1	%	7.1
LDR-25-08	464.6	478.6	14.0	Chalcopyrite	1.0	Pyrite	0.5			-		1.5
LDR-25-08	478.6	479.7	1.1	Chalcopyrite	3.0	Pyrite	8.0			-		11.0
LDR-25-08	480.6	516.0	35.4	Chalcopyrite	0.2	Pyrite	0.1			-		0.3

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 representivity 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. Samples 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) (30 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo). Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 30 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 drillholes and the aiming points for the orientation of the drillholes 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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Table 1 - NAG96-17 Assay results * Indicates newly analyzed values. All other values have been previously released.
Sample #	From	To	C Graphitic	Mo	Zn	Ag	Ni	Cu	Au + PGE	V2O5
Sample #	From	To	%	%	%	g/t	%	%	g/t	%
NC-245*	2.4	3.4	28.00	0.04	0.10	9.12	0.13	0.19	0.25	0.34
NC-246*	3.4	4.4	28.20	0.04	0.28	6.79	0.17	0.09	0.05	0.33
NC-247*	4.4	5.4	8.89	0.04	0.09	9.68	0.14	0.15	0.07	0.53
NC-248*	5.4	6.4	7.01	0.04	0.03	9.66	0.13	0.16	0.06	0.55
NC-249*	6.4	7.4	12.60	0.03	0.06	6.46	0.27	0.16	0.21	0.41
NC-249B*	7.4	8.4	2.03	0.04	0.08	14.20	0.20	0.29	0.07	0.44
NC-250*	8.4	9.4	0.10	0.01	0.14	8.28	0.26	0.15	0.10	0.32
NC-251*	9.4	10.4	0.09	0.01	0.13	4.38	0.15	0.07	0.13	0.14
NC-252*	10.4	11.4	0.02	0.00	0.02	10.60	0.21	0.19	0.10	0.21
NC-253*	11.4	12.4	0.06	0.03	0.03	5.32	0.10	0.10	0.05	0.27
NC-254*	12.4	13.4	0.05	0.02	0.02	1.90	0.03	0.02	0.02	0.18
NC-255*	13.4	14.4	0.12	0.00	0.06	2.86	0.06	0.04	0.04	0.18
NC-256*	14.4	15.4	2.51	0.03	0.05	3.62	0.08	0.06	0.03	0.29
NC-257	15.4	16.4	11.85	0.05	0.04	4.92	0.14	0.11	0.05	0.26
NC-258	16.4	17.4	10.15	0.02	0.08	5.23	0.39	0.10	0.05	0.29
NC-259	17.4	18.4	31.00	0.04	0.64	8.28	0.21	0.11	0.05	0.42
NC-260	18.4	19.4	14.95	0.03	0.61	7.97	0.29	0.14	0.19	0.47
NC-261	19.4	20.4	23.90	0.04	3.55	6.33	0.25	0.12	0.07	0.30
NC-262	20.4	21.4	25.30	0.04	0.64	7.20	0.12	0.10	0.06	0.42
NC-263	21.4	22.4	20.10	0.03	0.30	7.46	0.30	0.08	0.07	0.41
NC-264	22.4	23.4	23.60	0.04	0.87	7.30	0.19	0.08	0.07	0.35
NC-265	23.4	24.4	25.20	0.02	2.42	9.51	0.21	0.16	0.18	0.36
NC-266*	24.4	25.4	26.90	0.03	0.60	7.59	0.19	0.07	0.07	0.34
NC-267*	25.4	26.4	22.90	0.03	0.07	10.80	0.11	0.23	0.03	0.41
NC-268*	26.4	27.4	23.00	0.02	0.80	6.98	0.24	0.13	0.10	0.41
NC-269*	27.4	28.4	25.50	0.03	0.02	9.45	0.24	0.19	0.11	0.33
NC-270	28.4	29.4	na	0.04	0.08	12.90	0.24	0.31	0.11	0.38
NC-271	29.4	30.4	22.80	0.04	0.13	8.75	0.33	0.18	0.14	0.43
NC-272	31.4	32.4	18.10	0.05	0.09	6.80	0.24	0.12	0.11	0.48
NC-273	32.4	33.4	15.05	0.05	0.17	7.52	0.19	0.14	0.07	0.50
NC-274	33.4	34.4	25.30	0.04	1.11	12.10	0.24	0.23	0.14	0.44
NC-275	34.4	35.1	29.60	0.04	1.01	10.15	0.26	0.08	0.09	0.44
NO SAMPLE	35.1	36.0	na	na	na	na	na	na	na	na
NC-276	36.0	37.0	34.90	0.04	0.65	9.19	0.29	0.08	0.12	0.30
NC-277	37.0	38.0	18.25	0.04	2.02	12.65	0.31	0.22	0.16	0.44
NC-278	38.0	39.0	11.15	0.04	0.46	13.65	0.36	0.22	0.08	0.40
NC-279	39.0	40.0	10.90	0.03	3.65	14.20	0.54	0.24	0.27	0.36
NC-280	40.0	41.0	11.15	0.03	2.46	12.70	0.40	0.18	0.16	0.32
NC-281*	41.0	42.0	9.36	0.03	0.88	7.73	0.31	0.17	0.11	0.49
NC-282*	42.0	43.0	4.26	0.04	0.52	5.13	0.27	0.11	0.08	0.58
NC-283*	43.0	44.0	1.72	0.04	0.13	5.56	0.14	0.08	0.06	0.60
NC-284*	44.0	45.0	5.78	0.05	0.47	7.43	0.49	0.15	0.12	0.51
NC-285*	45.0	46.0	3.14	0.04	1.06	7.44	0.49	0.14	0.08	0.48
NC-286*	46.0	47.0	2.21	0.03	0.57	6.30	0.37	0.11	0.10	0.49
NC-287*	47.0	48.0	0.20	0.02	0.13	3.96	0.09	0.06	0.06	0.51
NC-288*	48.0	49.0	0.10	0.04	0.16	2.79	0.08	0.05	0.08	0.45
NO SAMPLE	49.0	54.8	na	na	na	Na	na	na	na	na
NC-289*	54.8	55.8	2.80	0.01	0.07	0.78	0.06	0.03	0.03	0.15
NC-290*	55.8	56.8	1.36	0.01	0.03	0.54	0.03	0.02	0.02	0.08
NC-291*	56.8	57.8	2.19	0.01	0.11	0.56	0.04	0.03	0.01	0.06
NC-292*	57.8	58.8	2.51	0.02	0.40	1.12	0.09	0.06	0.06	0.26
NC-293*	58.8	59.8	23.80	0.04	0.49	1.40	0.29	0.10	0.10	0.43
NC-294*	59.8	60.8	26.20	0.04	1.01	1.08	0.28	0.05	0.06	0.37
NC-295*	60.8	61.8	18.90	0.05	1.17	1.87	0.19	0.14	0.11	0.49
NC-296*	61.8	62.8	23.20	0.02	0.05	2.65	0.37	0.17	0.09	0.35
NC-297*	62.8	63.8	2.19	0.00	0.01	0.17	0.01	0.01	0.00	0.03
NC-298*	63.8	64.4	0.60	0.00	0.01	0.11	0.01	0.00	0.00	0.01

Lumina Gold Corp.
	:
Signed: *"Marshall Koval"*

Marshall Koval, President & CEO, Director