Radisson Expands Ongoing Step-Out Drill Program at O'Brien to 140,000 Metres

On October 16, 2025, Radisson Mining announced a significant expansion of its ongoing exploration drill program at the O'Brien Gold Project to 140,000 metres. This represents the largest drill program in the project's history. To facilitate this aggressive expansion, the company will double its drill rig count from four to eight. The expanded program, which will continue through 2026, is fully funded by the recently closed $25 million financing. The objective is to build upon recent exploration successes and accelerate efforts toward significant resource growth, targeting an exploration potential of 3 to 4 million ounces of gold.

This announcement is a material positive for Radisson. While an expanded drill program was anticipated following the successful $25 million "bought deal" financing that closed on October 8, 2025, the scale of this expansion to 140,000 metres is exceptionally aggressive and signals immense confidence from management.

The timeline of events demonstrates a clear and well-executed strategy: 1. Exploration Success (Late 2024 - Mid 2025): The company consistently delivered high-grade drill intercepts from deep step-outs, including a hit of 242 g/t Au over 1.0 metre, demonstrating that the high-grade mineralization extends well below the historic mine and current resource. 2. Economic Validation (July 2025): The positive Preliminary Economic Assessment (PEA) established a credible, low-CAPEX development path via toll-milling, showing a robust after-tax NPV5 of $532M (USD) at $2,550/oz gold. 3. Financial Backing (September/October 2025): The company secured strong institutional support, evidenced by the upsized $25 million financing at $0.60 per share, a significant premium to its trading price earlier in the year. 4. Aggressive Execution (Current News): This announcement is the direct deployment of that capital. Instead of a modest increase, management has opted for a bold program to rapidly delineate the full potential of the O'Brien deposit.

The doubling of drill rigs from four to eight will dramatically accelerate the news flow of drill results and shorten the timeline to a potential multi-million-ounce resource update. This move transforms Radisson from a methodical explorer into one with a large-scale, funded resource definition program, which should command greater market attention. The market is forward-looking, and this program provides a clear path to demonstrating the 3-4 million ounce exploration target, which was a key part of the investment thesis for the recent financing. This is not just routine drilling; it is a clear statement of intent to prove O'Brien is a district-scale deposit.

Radisson Mining Resources is a gold exploration company focused on its 100%-owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp in Abitibi, Québec. The project hosts the former O'Brien Mine, which was Québec's highest-grade gold producer, having produced over 500,000 ounces at an average grade exceeding 15 g/t Au. The company's strategy is to expand the known resource, particularly at depth where mineralization remains open, and advance the project towards production, leveraging existing regional infrastructure as outlined in its July 2025 PEA.