Eastport Launches Diamond and RC Drill Campaign at the Matsitama Copper Project Under Its Multi-Asset Drill Strategy

Executive Summary

• Eastport Ventures Inc. (formerly Penbar Capital Ltd.) announced the commencement of a multi‑asset drilling campaign at its flagship Matsitama Copper Project, including diamond drilling at the NAK Deposit and reconnaissance drilling at Copper‑Cobra and Kopano South targets.
• The initial drilling phase is slated for completion by late December 2025, with Phase 2 planned to start in early 2026; assay results will be released throughout 2026.
• Historical data indicate the NAK Deposit hosts >100 million lbs Cu (historical resource) and the Kopano Mine historically reported ~72 Mt @ 0.94% Cu, though these figures are not NI 43‑101 compliant.

Key Details

• Company Renaming: Penbar Capital Ltd. will be renamed “Eastport Ventures Inc.” (TSXV: EVI).
• Project Overview: Matsitama Copper Project is the qualifying property and flagship asset; it contains three strategic targets:
• NAK‑Deposit – Diamond drilling commenced; historic resource >100 M lbs Cu over a 1.3 km strike (non‑compliant with current CIM standards).
• Copper‑Cobra – Reconnaissance drilling started to test a ~25 km copper‑in‑soil anomaly and historic RC results up to 2.5% Cu.
• Kopano South – Reconnaissance drilling begun to evaluate the southern extension of the Kopano Mine (historically reported 72 Mt @ 0.94% Cu).
• Drilling Schedule:
• Phase 1 (diamond & reconnaissance) expected to finish by the second half of December 2025.
• Phase 2 drilling scheduled for early 2026.
• Qualified Person: Liz de Klerk, Pri.Sci.Nat., FIMM (Micon International), reviewed and approved the technical information per NI 43‑101.
• Historical Resource Disclaimer: The historic NAK Deposit resource was compiled by SRK Consulting in 2013 to SAMREC 2007 standards; it has not been verified or classified under current NI 43‑101 criteria. No current NI 43‑101 compliant resource estimate exists for Matsitama.
• Forward‑Looking Statements: CEO Burns Singh Tennent‑Bhohi emphasized that the listing is a continuation of six years of private development, positioning Eastport to transition seamlessly to a public reporting issuer with an active exploration program.

Notable Quotes

“Although a new issuer, it is important to emphasise that Eastport has been proactively developing its critical metals projects for the past 6‑years… This allows the Company to seamlessly transition from private critical metal developer to a Public Reporting Issuer with a well‑planned active exploration program.” – Burns Singh Tennent‑Bhohi, CEO

“Eastport is well positioned to provide exposure to a Copper project that is rich in data, development and opportunity… The initial drilling and reconnaissance campaigns are expected to be complete by the second half of December…” – Burns Singh Tennent‑Bhohi, CEO