White Cliff Minerals Limited (“White Cliff” or the “Company”) is delighted to announce the acquisition of Victoria Copper Ltd, 100% owner of exploration licence L-2797 (“the license”). This granted exploration licence lies within the broader Rae Copper region, Nunavut, Canada (“Rae” or the “Project”) and covers the historical Danvers copper deposit (“Danvers”). Confirmation drilling and other verification work of the historical resource will be one of several deliverables scheduled for the upcoming 2025 programme at Rae.

The historic resource estimate for the Licence, is a historic estimate and not in accordance with the JORC Code. The Company notes that the estimate and historic drilling results dated 1967 and 1968 are not reported in accordance with the NI 43-101 or JORC Code 2012. A competent person has not done sufficient work to disclose the estimate/results in accordance with the JORC Code 2012. It is possible that following further evaluation and/or exploration work that the confidence in the estimate and reported exploration results may be reduced when reported under the JORC Code 2012. Nothing has come to the attention of the Company that causes it to question the accuracy or reliability of the historical exploration results, but the Company has not independently validated the historical exploration results and therefore is not to be regarded as reporting, adopting or endorsing the historical exploration results.

• Acquisition brings 100% unencumbered ownership of the license, proximal to the Companys’ existing claims at Rae
  
• The Licence contains a non JORC compliant, historic resource estimate of 4.16 million tons at a grade of 2.96% Cu at a 2% cut-off Cu (“the historic resource estimate”).
  
• Records of resource drilling undertaken during 1967 & 68 had a maximum vertical depth of ~150m
• Highlights from the 1960’s resource drilling included:
  • 39.40m @ 4.9% Cu from 60.3m (S-57)
  • 47.10m @ 3.2% Cu from 42.2m (S-24)
  • 35.40m @ 3.2% Cu from 21.0m (S-21)
  • 27.5m @ 4.0% Cu from 76.7m (S-63)
  • 38.1m @ 2.8% Cu from 63.4m (S-73)
  • 31.4m @ 3.3% Cu from 15.2m (S-20)
  • 44.8m @ 2.2% Cu from 55.8m (S-18)
• Follow up drilling in 2003 & 2005 focused mainly on expanding the known mineralised envelope which starts at surface and has dimensions of approximately 550m(L) x 200m(W) x 150m(D). Results confirmed mineralisation remains open in all directions presenting potential for further exploration success, highlights include;
  • 72.70m @ 1.6% Cu from 27m (2003-47-2)
  • 56.39m @ 1.5% Cu from 47m (2003-47-1)
  • 98.05m @ 0.9% Cu from 66m (2003-47-3)
  • 52.88m @ 1.2% Cu from 177m (2005-47-7)
• Acquisition of this, until now, stranded licence bolsters the already impressive and prospective Rae Project Portfolio. Sitting within the Company’s surrounding landholding, this addition represents accelerated near term optionality to start growing a resource for the greater Rae Project
• Conveniently located 3 km south of the Hope Lake Airstrip where the Company intends to base its 2025 field operations
• The historic, non JORC compliant estimate, the potential to expand this resource estimate and the concentrations of copper-silver reported from past drilling activities is a key factor in the acquisition of the Licence. The previously reported work and studies undertaken on the Licence will be verified by the Company as quickly as reasonably possible, with proposed work focused on drilling being planned for 2025.

“This is a value acquisition for shareholders. This moderate tonne but lower grade historic resource of 4.16mt @ 2.96% Cu is but one of several styles of mineralisation the Company expects to find throughout the broader licence area.

Others targets include the very large tonne targets of Hulk, the high grade-high tonne potential of Stark, the very high grade native copper flow top replacement targets and finally the extremely high grade Thor, Rocket and Vision areas.

This acquisition provides not only the potential for fast tracked expansion of an already identified large occurrence of copper but further secures the companys dominant landholding in the region.

We are now preparing for the 2025 drilling, with all targets now identified and prioritised starting with the giant Hulk sedimentary target, the extremely high grade vein systems and resource verification work at Danvers as well as at Great Bear - the Company is well positioned to deliver on its CY25 planned objectives.

I’m pleased to say we are making good progress on the final phases of our permitting and will update shareholders on the finalisation of this aspect as well as the award of drilling and service support contracts and the start of mobilisation in due course.”

Troy Whittaker - Managing Director

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