Perseverance Metals Reports High Grade, >4% Nickel from Initial Drilling of the Venus East Ni-Cu-Co-PGE Trend, Lac Gayot Project, Quebec

Executive Summary

• Initial assay results from the 2025 Lac Gayot Baseline Zone drill program show a high‑grade massive sulphide intersection of 4.13% Ni, 0.33% Cu, 0.14% Co, 1.53 g/t Pd and 0.19 g/t Pt over 30 cm in hole BAS‑25‑002.
• Follow‑up drilling (hole BAS‑25‑004) returned a significantly thicker massive sulphide interval of 2.10 m, confirming the zone’s potential for scale‑size mineralization.
• The Baseline conductor is modeled to extend >100 m NE and >60 m SW; a high‑resolution ground EM survey is planned for 2026 to delineate further targets along the 1.3 km trend and into the adjacent ‘L’ and De Champlain Zones.

Key Details

• Hole BAS‑25‑002 assay (30 cm interval): 4.13 % Ni, 0.33 % Cu, 0.14 % Co, 1.53 g/t Pd, 0.19 g/t Pt.
• Hole BAS‑25‑001 assay (1.6 m interval): 0.20 % Ni, 0.25 % Cu, 0.01 % Co, 0.51 g/t Pd, 0.32 g/t Pt, 0.27 g/t Au.
• Combined high‑grade interval (BAS‑25‑002, 0.3 m): 4.13 % Ni, 0.33 % Cu, 0.14 % Co, 1.53 g/t Pd, 0.19 g/t Pt, 0.02 g/t Au.
• Hole BAS‑25‑004 massive sulphide intersection: 2.10 m thick (assays pending).
• Additional massive/semi‑massive intersections (visual only):
• BAS‑25‑003 – 0.50 m massive, 0.50 m semi‑massive.
• BAS‑25‑006 – 0.40 m massive.
• Geophysical context: Conductive plate identified by 2024 Helitem2 airborne EM (≈3,000 S/m) and confirmed by SQUID ground survey; later BHEM modelling increased conductance to ≈10,000 S/m with strike extensions NE/SW.
• Planned work 2026: High‑resolution ground EM survey over the entire Venus East Trend; additional BHEM surveys to target thickest mineralized horizons for further drilling.
• Drilling logistics: Core NQ size, logged and sampled by Laurentia Exploration; QA/QC includes blanks, duplicates, standards (ALS Minerals accredited). Drilling performed by Forage Fusion (Ontario).
• Qualified Person: Hugues Guérin‑Tremblay, P.Geo (OGQ #1584), reviewed and approved technical content.

Notable Quotes

“I am thrilled with our early success intersecting massive magmatic nickel sulphide mineralization in our first drill testing of the Baseline conductor targets… The very high grade of massive sulphide intersected in Hole 2 confirms that the grade of mineralization in this zone is consistent with the rest of the Lac Gayot project.” – Michael Tucker, CEO

“I am elated that we have achieved our early discovery objective of documenting new high‑grade mineralization in our first drill program.” – Michael Gray, Chairman