Inomin Makes New Discovery at Beaver-Lynx

Inomin Mines Inc. (MINE) released results on October 6, 2026, marking the maiden drilling at the Lynx block’s Onuki zone, located approximately 10 km south of the previously drilled Beaver block. This marks the first time the Lynx area has been drill-tested.

The key intercept reported is: - 420 m grading 0.21% nickel and 22% magnesium, starting 3 m from surface (described as the longest nickel-mineralized intersection at Beaver-Lynx to date).

The Lynx drilling program comprised nine holes totaling 3,452.8 m at the Onuki zone, a 6 km² magnetic target. Only the first four holes are referenced, with assays for the remaining five holes pending. The holes were reconnaissance in nature, spaced no less than 200 m apart, and all are core-length with no true widths calculated yet. A 158.4 line-km ground magnetic survey was completed at Onuki. The approximately $2.3M program was funded by Sumitomo Metal Mining Canada, with Inomin serving as the operator. The company claims a approximately 100% hit rate regarding the intersection of target mineralization.

Notably, the release does not publish the individual assays for the other three of the four holes, and it omits cobalt, chromium, platinum, palladium, copper, silver, and gold figures that earlier Beaver releases highlighted; here, only nickel and magnesium are quoted.

Inomin Mines Inc. (MINE) is a pre-resource micro-cap with a market capitalization of approximately C$5 million, 49 million shares outstanding, and zero revenue. The company carries a going-concern flag in its MD&A, holding C$593,581 in cash at the fiscal year-end in March 2026, followed by a further raise of approximately C$615,000 closed in May 2026.

The company recently announced a new mineralized block that roughly doubles the known footprint and delivers the longest and slightly highest-grade intercept at the project. This result is at least comparable to the Beaver zone and longer, aligning with prior narration that Onuki would be comparable to Beaver if conditions allowed. The stock price drifted from approximately C$0.14 in early September 2026 to C$0.10 by October 5, sitting in the mid-range of a C$0.06–0.14 band.

Several factors limit the scope of this discovery. The grade of 0.21% Ni is below the bulk "good" band and depends on unproven recovery. Only one of four holes is quantified, with no true width, cutoff, metallurgy, or economics established. While the footprint has grown, the company has not yet proven a large, continuous, recoverable, or economic volume.

Inomin Mines Inc. (TSXV: MINE) is a pre-revenue junior explorer focused on large-scale discovery and resource potential. Its flagship asset is the 28,000-hectare Beaver-Lynx polymetallic project, located approximately 50 km north of Williams Lake in south-central British Columbia. The property sits adjacent to Trekor’s Gibraltar mine and benefits from proximity to an all-season road, hydro power, and active rail lines.

The project targets nickel and magnesium as primary commodities, with accessory cobalt, chromium, platinum, and palladium. Historical intersections have also identified copper, silver, and gold. Inomin holds operatorship of the project under a partnership with Sumitomo Metal Mining Canada, which has an earn-in right to acquire up to 80% interest. This partnership is funding the approximately $2.3 million 2026 exploration programme.

A 2025 drilling programme consisting of 13 holes totaling 3,361.8 metres established the Beaver South and North zones, returning grades of approximately 0.16–0.20% nickel over widths of 100–200 metres. The maiden drilling at the Lynx zone in 2026 represents the current exploration catalyst. No resource estimate or economic study currently exists for the project.

For the fiscal year ending March 31, 2026, Inomin reported a net loss of C$265,237. The balance sheet showed C$593,581 in cash, total equity of C$1.22 million, no debt, and positive working capital. The company’s Management’s Discussion and Analysis carries a going-concern flag.