Carmanah Minerals Engages Warrior Drilling for Heritage Project; Targets Historic Eagle Zone on Burin Trend, NL

Executive Summary

• Carmanah Minerals has engaged Warrior Drilling Ltd. to conduct an initial drill program at the Heritage Gold‑Silver Project (Eagle Zone) on Newfoundland’s Burin Peninsula.
• The program will consist of up to three holes, ~500 m total depth, aimed at validating historic high‑grade intercepts and supporting a future NI 43‑101 compliant resource estimate.
• Historic data indicate significant grades (e.g., 46.5 g/t Au over 0.12 m) and the project remains open in all directions, suggesting district‑scale potential.

Key Details

• Drill Contractor: Warrior Drilling Ltd.
• Program Scope: Up to 3 drill holes; total planned length ≈ 500 m.
• Target Zone: Eagle Zone within the Heritage Gold‑Silver Project (historic resource: 1.08 Mt @ 2.19 g/t AuEq, 76,074 oz AuEq).
• Objective: Confirm and validate historic drill results; generate data for a modern NI 43‑101 resource model.
• Historical Highlight: Hole HE‑20‑16 returned 46.5 g/t Au and 10,516 g/t Ag over 0.12 m.
• Geological Context: Part of the Avalonian Epithermal Belt; mineralization extends ≥ 1.5 km strike, within a larger 4.5 × 5.2 km Point May system containing >20 high‑priority targets.
• Infrastructure Advantages: Year‑round access, nearby power, paved roads, and proximity to two deep‑water ice‑free ports.
• Next Steps: Execute drill program, analyze results, incorporate data into resource modeling, and refine additional targets across the Point May corridor.
• Qualified Person: Mike Kilbourne, P.Geo., reviewed and approved technical content per NI 43‑101 standards.

Notable Quotes

“We are very much looking forward to having a drill turning,” said Fraser Rieche, CEO of Carmanah Minerals. “Even though this is not a large drill program, it represents an important technical milestone — one that allows us to verify the historic data and demonstrate the continuity and scale of the Heritage system.”