Storm Intersects Sulphide Mineralization in All Eight Holes Recently Drilled at Gold Standard Project

Storm Exploration Inc. (STRM) has released geological logging results for eight drill holes totaling 1,594 meters at the Gold Standard VMS target, located 60 km north of Fort Frances, Ontario. The company stated that assay results are expected in early Q1/2027.

According to the report, every hole intersected "disseminated and/or semi-massive to massive sulphide mineralisation" over a 1.9 km section of a 7 km geophysical conductor. The logged intervals, reported as core lengths without grades, cutoffs, or true widths, are as follows:

• GS26001 (167 m): 46.70–53.93 m — sulphide-facies exhalite, bedded magnetite, folded laminated pyrrhotite-pyrite with minor sphalerite/chalcopyrite; locally semi-massive 49.75–52.60 m; a 1 m massive quartz vein at 48–49 m with blebby pyrite/pyrrhotite.
• GS26002 (248 m): 73.00–75.94 m and 97.15–97.50 m (pyrrhotite-pyrite); 108.75–111.42 m (~20% sulphide); best logged 126.70–129.30 m (~25% sulphide, blebby chalcopyrite) in deformed felsic tuff.
• GS26003 (146 m): broad low-intensity sulphide; best zone 110.10–123.00 m in quartz-altered felsic rocks; strongest single interval 114.50–115.00 m (~25% sulphide), flanked by ~15% intervals at 110.1–112.5 m and 118.6–119.7 m.
• GS26004 (221 m): 172.62–181.40 m in rhyolitic volcaniclastic with banded chert; two narrow ~70% sulphide bands at 172.6–173.1 m (0.5 m) and 179.5–179.9 m (0.4 m); sphalerite concentrated at the base of the zone.
• GS26005 (215 m): 189.20–201.86 m; strongest 191.40–195.00 m and 196.80–199.10 m (~25% sulphide, pyrrhotite-pyrite dominant with sphalerite and chalcopyrite).
• GS26006 (128 m): essentially barren — trace fracture pyrite, a narrow pyrite bed at 30.47–31.85 m; bedded sulphide 54.43–58.75 m in mafic tuff.
• GS26007 (242 m): moderate, four weak intervals — 47.07–52.93 m, 62.5–63.5 m, 97.52–100.4 m, 109.1–112.2 m (pyrite-pyrrhotite).
• GS26008 (227 m): main interval 120.98–149.52 m; best section 144.00–149.52 m — semi-massive to massive replacement sulphide, up to 70%, pyrrhotite-pyrite-sphalerite-chalcopyrite.

Following a review by Dr. Stephen Piercey, the company interpreted the mineralization as a bimodal-mafic VMS sub-type. The host rock is described as a felsic volcanic horizon within a mafic-dominated submarine sequence. Alteration features include chlorite, sericite, quartz, carbonate, epidote, local potassic bleaching, and chlorite-garnet metamorphic equivalents. Storm Exploration Inc. explicitly caveated that the sulphide percentages are visual logging estimates and not assay results.

Storm Exploration Inc. (STRM) is a pre-resource explorer with a market capitalization of approximately C$15.4 million. The fully diluted share count stands at 36.6 million shares, plus 11.9 warrants at an average exercise price of $0.44 and 2.6 million options at $0.48.

On September 23, 2026, the company released results from five holes totaling 1,000 meters of drilling. These holes intersected disseminated to massive sulphide mineralization across all five targets within a 1.9-kilometer section of a seven-kilometer conductor. No assay data was included in that release. The stock price rose from $0.53 on September 22 to $0.58 on the day of the release, reaching $0.68 by September 25 and a closing high of $0.70 on October 5. The stock has since declined to $0.42, representing a 21% drop from the pre-release price and a 40% decline from the peak. The trading session prior to the recent release on November 11 saw an 8.7% decline.

The latest update includes eight holes totaling 1,594 meters of drilling. This extends the same 1.9-kilometer footprint and three clusters identified previously. The geological interpretation has been updated to identify a bimodal-mafic VMS sub-type, with a felsic horizon identified as the principal host. The best-case massive zone is now defined as 5.5 meters at GS26008. No assay data is included in this release either.

The company states that the point of true materiality will be in the first half of 2027, when assay data is expected to validate or challenge the discovery claims made in September.

Storm Exploration Inc. is a TSX-Venture-listed, pre-revenue Canadian explorer holding 100% of three district-scale projects in northwestern Ontario. The company’s portfolio includes the Gold Standard property, comprising 373 claims covering 7,869 hectares located 60 km north of Fort Frances along an all-weather forestry road. Situated within the Manitou-Stormy Lakes greenstone belt along the 60 km Manitou Stretch–Pipestone Lake deformation zone, the property features a 7 km VTEM/VLF conductivity anomaly with a near-vertical, approximately 50 m wide conductive horizon. Four shallow Inco holes drilled between 1969 and 1970 intersected Cu-Zn sulphides but were never assayed. The area also hosts three historical gold mines from 1901–1903 and recorded 2022 surface grab samples of 166 g/t Au, 197 g/t Ag, and 1.47% Cu near the HW-271 showing, representing a separate gold target from the VMS conductor. The 2026 programme includes eight holes totaling 1,594 m, with assays due early in the first quarter of 2027. Mapping and VLF work are scheduled for November 2026, with the next drilling phase planned for the second quarter of 2027.

The Keezhik project is located in the Miminiska–Fort Hope greenstone belt and is road accessible. The property carries a 2% NSR payable to Landore, with a 1% buy-back option for $1 million. It hosts eight drill-confirmed gold showings, including historic unverified grades of 16.2 g/t Au over 2.0 m at KL-12 and 18.9 g/t Au over 1.5 m at KL-27. Last drilled in the 1980s, the project is slated for airborne EM surveys and drilling in the third quarter of 2026. The Attwood property covers approximately 23,230 hectares and features the historical Weese Lake copper showing, arsenopyrite-bearing BIF, and untested EM anomalies. With 19 historical holes from 1972, the goal is to have the property drill-ready in 2027.

In December 2025/February 2026, Miminiska was sold to Canadian Goldfields Discovery Corp. for $5,812,500 in cash and shares, a transaction that served as the source of FY2026's $4.34 million net income. For the fiscal year ended March 31, 2026, Storm Exploration reported a net income of $4,336,973, or $0.22 per share, driven entirely by the Miminiska disposal gain. The company recorded an operating loss of $1,859,132, holding cash of $111,718 and total assets of $5,716,108, which included $2,312,500 in receivables from CGDC consideration. The company had no debt and reported equity of $4,469,810. Interim comparatives for the period ended December 31, 2025, reported cash of $7,875 and negative equity of $1,281,836. Subsequent to year-end, the company raised approximately $2.95 million gross in July 2026 and $3.2 million gross in September 2026.

The company’s capital structure consists of approximately 36.6 million shares outstanding, up from 20.98 million at March 31, 2026, representing roughly 74% dilution over eight months via July and September 2026 placements. There are 11.9 million warrants at a $0.44 weighted average and 2.6 million options at a $0.48 weighted average, resulting in approximately 51 million fully diluted shares. Eric Sprott holds approximately 15.8% of the company through 2176423 Ontario Ltd., which holds 5.76 million shares plus 2.5 million warrants, subject to a 19.99% blocker. Management includes Bruce Counts as President, CEO, and P.Geo.; Jo Price as Director and QP; and Taylor Niezen as CFO, with Dr. Stephen Piercey serving as VMS consultant.