Canstar starts trench program at Mary March

Executive Summary

• Canstar Resources has launched a trenching program at the Mary March project to evaluate a newly identified ~1.2 km induced‑polarization (IP) chargeability anomaly north of the historic discovery zone.
• Early field work returned float rock samples with up to 4 % Cu and the company expanded its land position by 625 ha through two new option agreements, while adding personnel to accelerate exploration.
• Since June 2025, early exercise of warrants has generated $1.09 M in proceeds (21.85 million warrants exercised), supporting the ongoing program.

Key Details

• Trench Program: 11 trenches underway; six fully excavated, total ~860 m of exposure cleared to verify stratigraphy and collect continuous channel samples for IP calibration.
• IP Anomaly: Un‑tested ~1.2 km long chargeability trend located 550 m north of historic discovery area, identified from 2014 DCIP data; two trenches allocated for initial evaluation.
• Assay Highlights (float rock): Portable XRF analyses show up to 4 % Cu in trench corridor samples.
• Historic Intercept (1999 hole): 9.63 m at 0.64 % Cu, 4.2 g/t Au, 122 g/t Ag, 10.1 % Zn, 1.8 % Pb (≈240 m vertical depth).
• Surface Samples (2019 debris flow): Up to 5.7 % Cu, 1.2 g/t Au, 29.4 g/t Ag from channel and grab samples.
• Land Expansion: Two option agreements signed, adding 625 ha within the Mary March footprint, extending coverage of the 1.2 km IP anomaly.
• Geophysical Work: Completed deep IP survey over Buchans project (partnered with Canterra Minerals Corp.); third‑party review confirms DCIP as most effective method at Mary March.
• Additional Data Sets: Property‑wide LiDAR survey finished to aid outcrop detection and structural mapping.
• Warrant Exercise: Early exercise of warrants since June 2025 totals $1,092,500 (21.85 M warrants exercised of 26.7 M issued).
• Team Expansion: Hired one geologist and two field assistants; total crew now larger to support accelerated trenching and sampling.

Notable Quotes

“This program highlights the combination of technical excellence and speed of execution that defines our work at Mary March. Dr. Gibson and the team have systematically converted historical data into multiple new targets and advanced them rapidly through trenching and 3‑D modelling.” – Juan Carlos Giron Jr., President & CEO

The release contains no forward‑looking financial guidance beyond the warrant proceeds; materiality is assessed as Non‑Material – Positive given the operational progress and modest financing impact.