Past-producing nickel sulphide mine in Quebec, in proximity to the Dumont Nickel Deposit

• The Somanike Project consists of 148 mining titles (mining rights area) covering 6,882 hectares within a large NW-trending ultramafic complex within the Abitibi Greenstone Belt that hosts several nickel sulphide occurrences, recognized nickel targets, ultramafic trends, and geophysical anomalies.
• The project is located in the prolific and mining-friendly Abitibi region of northwestern Quebec approximately 25 km north of the mining centre at Malartic, 40 km northwest of Val-d’Or, and 60 km east of Rouyn-Noranda.
• The Somanike Project includes Quebec’s first nickel mine, the historical Marbridge Mine, which was a high-grade nickel mine operated by Falconbridge Nickel.
• The Marbridge Mine occurs within a large NW-trending deformed and altered ultramafic complex.
• The Falconbridge Nickel reported production of 702,366 tons grading 2.28% Ni and 0.10% Cu from 1962 to 1968, prior to being placed on care and maintenance in 1968.
• The Mine consisted of two shafts accessing four separate mineralized zones over a combined strike length of 1000 m.
• The mineralized material was trucked 25 km south and processed at the Canadian Malartic plant.
• Since 1968, leading groups have reviewed Marbridge data and reports and unanimously concluded that mining ceased in mineralization and the four nickel sulphide zones remain open to expansion by drilling along strike and down-dip/plunge.

• Multiple geophysical exploration targets exist within the Marbridge Mine area and regionally within the Somanike Project
  • Effective depth of exploration from the previous drilling is limited to the top 200 m in the areas explored outside the vicinity of Marbridge #1 Mine

On February 8, 2023, the Company announced the completion of 40 drill holes (16,510m) on its Somanike Nickel-Copper Project.

Key Points:

• Diamond drilling has intersected sulphide mineralization in 23 drill holes. Mineralization is within and, in close proximity to ultramafic rocks. The host rocks are komatiitic flows and can be correlated with the horizons in the mine sequences at Mine 1, Mine 2, Mine 3 and Mine 4.
• Drilling has confirmed that Mine 1 is in a separate stratigraphic/structural sequence from Mine 2, Mine 3 and Mine 4 that are in the hanging wall to Mine 1.
• Down hole time domain (BHEM) geophysical surveys on holes drilled to date have identified multiple off-hole anomalies for follow-up.
• Drone mag and LIDAR surveys have been completed over the main Marbridge area. These have identified magnetic trends that demonstrate both definition of known nickel-bearing ultramafic rocks and the significant continuation of ultramafic rocks into under-explored areas.

The Company’s primary objective is to make a major discovery of high-grade magmatic nickel sulphides in an environment of known nickel mineralization with significant opportunity for new discoveries.