High-Grade Nickel and Platinum Group Metal Discovery Expands Manicouagan Critical Minerals Potential

Executive Summary

• St‑Georges Metallurgy Corp. recorded its first revenue in October 2025 from processing geothermal scaling concentrate, with additional revenues expected later in 2025 and the bulk anticipated in 2026.
• Surface prospecting at the Manicouagan Project identified a new high‑grade Ni‑Cu‑Co‑PGE target (“South‑East Manic Zone”) with grab samples up to 2.28% Ni, 0.37% Cu, 0.17% Co and 0.81 g/t Pd + 0.55 g/t Pt.
• The company will pursue high‑resolution ground magnetic/EM surveys, mechanized trenching, channel sampling and a 2026 drill program to test the new zone and extend depth targets in the historic Bob Zone.

Key Details

• First Revenue:
• Subsidiary: St‑Georges Metallurgy Corp.
• Period: October 2025 (first recorded revenue).
• Source: Processing of a multi‑ton shipment of geothermal scaling concentrate from Iceland.

• Outlook: Additional revenue expected before year‑end; bulk of 2026 revenues to derive from further processing of similar shipments.

• Manicouagan Surface Campaign – New Target Zone:

• Location: ~6.5 km east of the known Bob mineralized corridor, designated “South‑East Manic Zone.”
• Grab sample high‑grade results (selected):
  • Ni: up to 2.28 %
  • Cu: up to 0.37 %
  • Co: up to 0.17 %
  • Pd: up to 0.81 g/t
  • Pt: up to 0.55 g/t

• Mineralogy: High‑iron, magnetite‑rich lenses (>70 % Fe₃O₄) with elevated PGE content; strong positive correlation (r = 0.83–0.95) among Ni, Co, Fe, and PGEs indicating a common magmatic sulfide origin.

• Stream‑Sediment Sampling:

• Extended sampling ~3.5 km east of project.

• One sample detected trace Pt at 0.013 g/t (Pd below detection). Suggests possible distal PGE dispersion plume.

• Historical Drill Intercepts (Bob Zone) – Contextual Reference:

• 2 m @ 3.2 % Ni, 0.4 % Cu, 0.2 % Co, 9 g/t total PGEs (Pt+Pd+Rh+Ru).
• 91.3 m @ 0.24 % Ni, 0.25 % Cu, 0.01 % Co (continuous low‑grade mineralization).

• Bulk surface sample: 2.6 % Ni, 1.7 % Cu, 0.10 % Co, 12 g/t total PGEs.

• Planned Next Steps (2025‑2026):

• Conduct high‑resolution ground magnetic and electromagnetic surveys over the South‑East Manic Zone.
• Mechanized trenching and channel sampling to delineate near‑surface mineralization.
• Update 3‑D geological model incorporating new surface data, heliborne magnetic survey (2022‑2023) and prior drilling.

• Prepare a 2026 drill program targeting depth extensions of the Bob Zone and the newly defined South‑East zone.

• Quality Assurance / Quality Control:

• Samples collected by experienced prospectors; analyzed by IGS Laboratories (ISO/IEC 17025 accredited).

• Methods: 4‑acid digestion with ICP‑OES for base metals; fire assay ICP‑OES for PGEs.

• Qualified Person: George Yordanov, P.Geo., independent QP per NI 43‑101.

Notable Quotes

“The surface campaign was designed to examine areas with geophysical context similar to our known areas of mineralization… These results confirm similar mineralization to other targets on our project and provide encouraging signs for the next phase of exploration.” – Herb Duerr, President & CEO