Stuhini Engages Tetra Tech to Advance Economic Assessment of Ruby Creek Molybdenum Deposit

On October 21, 2025, Stuhini Exploration Ltd. announced it has engaged Tetra Tech Canada Inc. to complete a conceptual-level economic assessment for its Ruby Creek molybdenum deposit in British Columbia. The company reiterated that the deposit has an existing 2022 NI 43-101 compliant mineral resource estimate of 433 million pounds of molybdenum in the measured and indicated category. The CEO stated this is an important milestone in understanding the deposit's viability and is part of a broader strategy to unlock value at the project.

This news is materially positive for Stuhini. Engaging a reputable firm like Tetra Tech to conduct the first economic study on the flagship molybdenum deposit is a significant de-risking event and a logical next step in advancing the project.

• Positive: It provides a clear, near-term catalyst for the market—the results of the economic assessment. This study will be the first attempt to put an economic value on the large, but low-grade, molybdenum resource, moving it from a geological curiosity toward a potential development project.
• Strategic Alignment: The action aligns perfectly with the company's recently announced "strategic refocus" on the Ruby Creek project, which followed a confusing and brief pivot to acquire and explore assets in Nevada in late 2024. This demonstrates management is executing on its stated plan after raising capital in August/September 2025.
• Risk: The key risk is in the wording "conceptual-level economic assessment." This is not a formal Preliminary Economic Assessment (PEA) under NI 43-101 guidelines and will likely have a wide margin of error. Investors should be cautious not to overestimate the precision of the forthcoming study. The economics of large, low-grade molybdenum deposits are highly sensitive to metal prices, operating costs, and initial capital expenditures, which will be challenging to accurately estimate at this early stage.

Overall, the announcement provides a tangible sign of progress. It gives investors a reason to pay attention to the stock over the next few months, moving the story forward from simply having a large resource to potentially having an economic one.

Stuhini Exploration Ltd. is a Canadian mineral exploration company. Its flagship asset is the 100%-owned, 29,734-hectare Ruby Creek Project, located near Atlin, British Columbia. The project is road-accessible and hosts multiple mineral occurrences. - Molybdenum Deposit: The primary asset is a large, pit-constrained molybdenum deposit with a 2022 NI 43-101 Measured and Indicated resource of 369.4 million tonnes at 0.053% Mo, containing 433 million pounds of molybdenum. - Silver Surprise Zone: A high-grade, structurally controlled silver zone with multiple surface samples exceeding 1,000 g/t Ag, including bonanza grades over 10,000 g/t Ag. - Tungsten Potential: The property also hosts the past-producing Black Diamond tungsten mine and other tungsten targets.

The company recently pivoted its strategy to focus exclusively on advancing Ruby Creek after briefly acquiring and subsequently planning to divest two exploration projects in Nevada.