Ramp Metals Completes Rottenstone SW Camp, Reports Final 2026 Assays and Plans Winter Program

Ramp Metals Inc. (RAMP) released a three-part update covering the remainder of assays from its 2026 programme, the completion of the Keith Lake camp, and plans for a 5,000 m winter 2027 programme. The release includes no new assays from the Rush target; Table 1 explicitly notes that results are "including results previously reported." Holes Rush-011 through Rush-019, part of the 2,199 m / nine-hole Rush programme, were already published on April 22, May 20, and August 4, 2026.

The genuinely new assays concern non-Rush targets, which returned weak results. Ranger-009 identified four anomalous zones: 1.6 m @ 0.42% Zn; 5.0 m @ 0.21% Zn, 2.8 g/t Ag (including 0.5 m @ 15.5 g/t Ag, 0.89% Zn); 5.0 m @ 0.37% Zn, 0.05% Cu, 0.06% Ni, 0.02 g/t Pd; and 3.0 m @ 0.33% Zn, 0.10% Pb, 1.5 g/t Ag. Ranger-010 returned 2.0 m @ 0.33% Zn, 0.05% Cu, 0.04% Ni, 0.02 g/t Pd, 2.2 g/t Ag. At Redridge, RR-002 returned 20.0 m @ 0.068% Zn, 0.02% Cu, 0.02% Ni, with a best 0.5 m at 0.36% Zn. No reportable intercepts were found at Runway (RW-001), Rush Satellite 1 (RS1-001), Rush Satellite 2 (RS2-001), or Redridge RR-001.

The release contains a corrections table that reduces three previously published intervals, including the company's single best-ever assay. Rush-019's 4.0 m "including" interval falls from 1.18% Cu, 13.28% Zn, 9.7 g/t Ag, 4.83% CuEq to 0.36% Cu, 4.73% Zn, 4.26 g/t Ag, 1.68% CuEq. Also corrected: Rush-014 (Deep Zone) from 2.77% to 1.71% CuEq; Rush-016 from 2.74% to 2.24% CuEq; and Rush-019 broad interval essentially unchanged (0.86% → 0.87% CuEq).

Restated Rush highlights, all previously reported, include: - Rush-011: 21 m @ 1.34% CuEq - Rush-012: 25.9 m @ 1.43% CuEq - Rush-015: 7.4 m @ 3.03% CuEq (including 4.1 m @ 4.20%) - Rush-017: 3.35 m @ 4.40% CuEq - Rush-018: 22.5 m @ 0.93% CuEq - Rush-019: 28.23 m @ 0.87% CuEq

Ramp Metals Inc. (RAMP) is a grassroots explorer with a C$13.3 million market capitalization, reporting no revenue, resource, or reserve, and including explicit going-concern language in its MD&A. At this market size, a single drill hole can move the equity 20-40%, creating high volatility where disappointments impact the stock as sharply as successes.

The August 4, 2026 release led on Rush-019’s 4.0 m @ 4.84% CuEq and the confirmation of a second mineralized "Deep Zone." These results served as the primary focus for the market. Prior releases from December 2025 through April 2026 had highlighted Redridge, a 2.4 km EM anomaly with soil Cu/Ag; Ranger, a newly exposed shear located 325 m from a 73.55 g/t Au hole; and Runway, a Pt-Pd-Ni grab with chalcopyrite, as potential district-growth catalysts. This latest release reported nothing reportable for those targets, or 20 m of 0.068% zinc.

The stock price reflected the market's reaction to the August 4 release, running from $0.25-0.27 in mid-August to $0.34 on August 24, a gain of 26-36%. The price then faded back to $0.26-0.29 and currently sits at $0.29, exactly the price it traded at on October 29, 2025, and 41% below its February 2026 high of $0.49. The price series indicates the market never fully capitalized the Rush numbers; the May 20 release, which contained the highest-grade intercept to date (Rush-015, 4.1 m @ 4.20% CuEq), produced no lift, with the stock drifting from $0.30 to $0.28 into and after the announcement.

The geological envelope at Rush remains intact at approximately 0.9-1.4% CuEq over 20-28 m core length across multiple orientations, though the high-grade sweetener that previously supported the thesis has shrunk. The district-growth leg involving Ranger, Redridge, and Runway has been tested and failed at first pass. There remains no resource, no true width, no cutoff, and no metallurgy data. The company’s stated largest expense is camp costs, which are reduced by approximately 50 km less helicopter flying, representing genuine cost discipline for a company burning cash toward a 5,000 m programme.

Ramp Metals Inc. (TSXV: RAMP; OTCID: RMPMF) is a Vancouver-headquartered grassroots explorer with no revenue and no mineral resource on any property. Its flagship asset is the Rottenstone SW property, comprising 32,689 hectares in the Rottenstone Domain of northern Saskatchewan, located approximately 50 km northwest of Missinipe and 100 km north of La Ronge. The company holds the property 100% subject to a 2% net smelter return (NSR), of which 1% is buyable for C$1,000,000.

The company is pursuing two primary discovery threads: a copper-zinc-lead-silver volcanogenic massive sulfide (VMS) system at Rush, where 19 holes totaling 4,059 meters have been drilled to date, and a shear-hosted gold occurrence at Ranger. The Ranger target includes a single historic intercept from 2024 hole Ranger-001, which returned 7.5 meters at 73.55 grams per tonne of gold; this intercept is currently used as boilerplate with no continuity established. Additional targets include Redridge, Runway, Rogue, and Rush satellites.

Permitting is in place for a two-year period valid to December 31, 2027, authorizing up to 150 holes and 30,000 meters of drilling, plus an on-site camp. The Keith Lake camp, built by JP Enterprises with a 25-person capacity, is complete and has cut the helicopter ferry distance by approximately 50 km.

The company’s capital structure consists of 45,789,305 shares outstanding, 900,000 options at a weighted average exercise price of C$0.20, and no warrants, resulting in a fully diluted count of 46,689,305. Insider ownership stands at approximately 47%. At a share price of C$0.29, the market capitalization is approximately C$13.3 million, against a book value of C$0.18 per share, representing a price-to-book ratio of approximately 1.6x.

According to the company’s June 30, 2026, financial statements for the fiscal year 2026, Ramp Metals held C$1.64 million in cash and C$0.25 million in total current liabilities, resulting in a working capital surplus of approximately C$1.71 million. The company has no interest-bearing debt of consequence. FY-2026 net income of C$450,206 was driven by a C$1.09 million flow-through premium recovery and a C$512,443 restricted stock unit (RSU) fair-value gain, offset by a C$696,000 deferred tax expense. Operating cash flow was negative C$438,306, with an investing outflow of C$3.32 million. Management explicitly states that reliance on future financing casts significant doubt on the company’s going-concern status.

The board and advisory bench includes Dr. Mark Bennett (Nova-Bollinger, Sirius), Scott McLean, Richard Murphy, and Steve Balch (EM geophysics), alongside CEO Jordan Black, VP Exploration Garrett Smith, and VP Operations/Qualified Person Brett Williams. This team has not yet translated into a mineral resource.