Clarity Metals Completes 2026 Drill Program at Fecteau Gold Project

Executive Summary of Latest Release

• Clarity Metals Corp. announced the completion of its 2026 diamond drilling program at the Fecteau Gold Project in Quebec on May 13, 2026.
• The program consisted of 17 holes totaling 3,015 meters across five distinct target areas.
• Assay results are currently pending and will be released upon receipt from the laboratory.
• Core logging and sampling are nearing completion; samples have been dispatched to the lab.

Historical Progression Context

• October 2025: Permits secured for drilling; targets outlined ($1.4M spent to date). Financing arranged up to $1.75M.
• November/December 2025: First and second tranches of non-brokered private placement closed, raising approximately $1.12M total aggregate proceeds.
• February 2026: Contractor Technominex Inc. selected; mobilization prepared.
• March 2026: Drilling commenced (Hole FEC-26-016); program scope ~3,650m planned.
• May 2026: Program completed ahead of or on schedule relative to the March start date.

Key Operational Details

• Target areas covered include Fecteau East zone, SW Target Area, North Central Target, Syncline Drill Area, and Buteux-Marceau showing.
• Historical drilling on the property exceeds 17,815 meters; total investment in exploration to date is approximately C$1.4 million.
• Previous high-grade intercepts referenced include FEC-22-05 (14.91 g/t Au over 1.0m) and FEC-22-13 (5.98 g/t Au over 0.6m).

Evaluation of News Impact

• Current Status: The news confirms the execution of the exploration plan announced in late 2025/early 2026. It validates management's ability to mobilize and complete drilling within the budgeted timeframe.
• Materiality Level: Routine - Positive. While completion is a positive operational milestone, it does not alter the fundamental valuation thesis until assay results are released. The market has already priced in the expectation of this program following the financing and contractor announcements earlier in 2026.
• Expectations vs. Reality: The program scope (3,015m completed) is slightly below the initial ~3,650m plan mentioned in March mobilization news, though the May release notes "optional expansion based on early results" was part of the original design. This suggests a conservative completion or potential for follow-up holes pending assay feedback.
• Risk Factor: The absence of immediate assay data means there is no confirmation of mineralization continuity or grade enhancement. Without grades, this remains an operational update rather than a value-accretive event.

Corporate Profile

• Company: Clarity Metals Corp.
• Project: Fecteau Gold Project.
• Location: Abitibi region, Quebec (Abitibi Greenstone Belt).
• Property Scale: Approximately 5,247.47 hectares (approx. 14,000 acres).
• Ownership: 100% owned by Clarity Metals Corp.

Project Development Status

• Exploration Stage: Early-stage exploration and drilling.
• Historical Context: Total historical drilling on/around the property exceeds 17,815 meters since the mid-1970s (average depth ~207m). Many deeper zones remain untested.
• Geological Setting: Located in the prolific Abitibi greenstone belt, adjacent to Gold Fields’ Windfall Lake Camp and Bonterra Resources projects. Potential for orogenic gold and VMS-style mineralization.
• Key Intercepts: Historical high-grade intercepts include 14.91 g/t Au over 1.0m (FEC-22-05) and 5.98 g/t Au with 0.87% Cu over 0.6m (FEC-22-13).