The Mitchi property is located 10 km west of the Mitchinamecus reservoir and 100 km north of the town of Mont-Laurier. It is part of the Mitchi-Wabash mineralized district and spans over 250 km2. Situated in the northwestern portion of the central metasedimentary belt of the Grenville geological province, the Mitchi project hosts a copper-silver sediment-hosted stratiform copper type deposit (‘SSC’) modeled after the significant copper-cobalt deposits in the DRC.Copper sulphide mineralization is generally found within olivine marble and diopside gneiss sedimentary horizons. In the western part, it exhibits characteristics more akin to a porphyritic system, Iron Oxide Copper-Gold (IOCG) deposit, and/or a ‘skarn’ type deposit. Osisko Mining Inc. (“Osisko”) holds a 2% royalty on net smelter returns (NSR) from 27 claims located outside the sedimentary basin.

A maiden resource estimate (MRE) was independently conducted by InnovExplo Inc. on the Sherlock zone of the Mitchi property. The estimated measured and indicated resources for the Sherlock zone are approximately 2.99 million tonnes at a grade of 0.4% copper and 4 g/t silver. These resources are confined to a shallow open pit and are based on a cut-off grade of 0.2% copper. The estimation process used data from 66 drill holes, covering a total of 10,150 meters, which were completed between 2017 and 2022. The mineral resource estimate confirms the potential of a hub-and-spoke model for the Mitchi project.

*Results of the 2023 Mineral Resources Estimate.

The property is accessible via a well-developed network of forestry roads and is close to a hydroelectric substation located 15 km to the east. The Mitchi property is located 10 km west of the Mitchinamecus reservoir and 100 km north of the town of Mont-Laurier, Quebec.