Jonathan’s Pond | Exploits Discovery

Significant Drill Results

‘Main Vein’ – Jonathan’s Second Pond Showing

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Historical trenching by local prospectors in 2004 uncovered a system of massive northeast trending quartz veins up to 3.00 m wide with visible gold observed locally along the margins of the vein contact
Work by the Company’s geologists from 2020 to 2021 expanded the historical stripping of this quartz veining system to over 250.00 m strike-length with channel samples producing up to 1.35 g/t Au / 1.00 m
Subsequent grab samples taken from outcrop in the trench along the margin of the vein contact produced assays of up to 27.96 g/t Au with visible gold
The 2021 drilling program at the Jonathan’s Pond Project tested the down dip extension of the known mineralized quartz vein system identified during the 2020 trenching program and subsequent prospecting producing up to 1.57 g/t Au / 4.50 m in drill hole JP-21-019

Westfield Showing

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Located approximately 1.2 km north of ‘Main Vein’ returning up to 192.37 g/t Au from an unsourced quartz boulder (float)

Key Highlights

The Gander River Complex (GRC) Fault is a regional-scale structure, which serves as a significant conduit for gold-bearing fluids, creating a potential for structurally hosted gold mineralization.

Extensive soil and till sampling programs have identified anomalous gold values across the south-central and southeastern portions of the property.

Presence of ultramafic rocks offers the possibility of platinum group elements (PGE) potential.

Geological Features

Underlain by the GRC, which includes metamorphosed felsic, mafic, and ultramafic rocks indicative of island-arc affinity. To the west lies the Davidsville Group sediments, and to the east, Gander Group sediments.
Gold mineralization is typically associated with quartz veining in altered gabbro and ultramafic rocks, and arsenopyrite is common.
Structurally complex due to the presence of the GRC Fault, which is considered a deep-seated, mantle-tapping conduit.

Historical Exploration & Results

2003-2005: Rubicon Minerals conducted limited soil sampling and trenching, uncovering gold-bearing quartz veins with grab samples up to 50.00 g/t Au.
2020-2021: Trenching and prospecting by Exploits returned grab samples with visible gold, including assays up to 27.96 g/t Au.

Exploration Activities

2020: Expanded the historical stripping of the quartz vein system to over 250.00 m strike-length and conducted localized channel sampling

2021: Completed an airborne VTEM geophysical survey covering 674 line-km and a ground magnetic survey across 4.5 km². The survey aided in identifying structurally complex areas for drilling.

2022 – Current: No significant field activities reported, with the focus shifting towards further data analysis and interpretation.

Drill Results

JP-21-005: 1.55 g/t Au / 1.00 m
JP-21-012: 1.44 g/t Au / 1.50 m
JP-21-019: 1.57 g/t Au / 4.5m
- Including 3.08 g/t Au / 1.00 m
- Including 2.07 g/t Au / 1.00 m

Accessibility

The property is accessible via Highway 330, approximately 10 km north from the town of Gander, Newfoundland.

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