Anteros Metals to restart Seagull drilling

Executive Summary

• Anteros Metals provided an operational update on the Phase 1 extension drilling program at its Seagull Critical Minerals Project in Ontario, operated by Rift Minerals Inc. under a JV agreement where Anteros may earn up to a 49% interest.
• Drilling is scheduled to recommence in late February 2026, utilizing existing infrastructure to minimize costs while targeting a previously identified pressurized gas occurrence and evaluating orthomagmatic sulphide mineralization.
• Historical data from drill hole RM26-01 highlights a pressurized gas occurrence at ~877m depth and discontinuous sulphide mineralization at 589-608m, with laboratory assays pending and further geological evaluation underway.

Key Details

• Project Location & JV Structure: Seagull Critical Minerals Project, ~80 km northeast of Thunder Bay, Ontario. Operated by Rift Minerals Inc. under an option and joint venture agreement announced Oct 9, 2025; Anteros may ultimately earn up to a 49% interest.
• Drilling Schedule & Mobilization: Drill rig currently on site. Mobilization to the next pad anticipated in the near term. Full crew arrival expected on or about Feb 23, 2026, with drilling to recommence shortly thereafter, subject to final field conditions.
• Historical Hole RM26-01 (Gas Occurrence): Intersected a pressurized gas occurrence at ~877m depth within a narrow fault zone in Archean basement rocks of the Quetico subprovince. Casing sealed at surface to monitor for gas recharge; company plans to retrieve a pressurized gas sample if sufficient flow is observed.
• Gas Context & Continuity: The 877m occurrence is located ~100m from historical hole WM01-08 (drilled in 2001), which also reportedly encountered pressurized gas. The significance, continuity, and composition of the gas remain under evaluation.
• Historical Hole RM26-01 (Sulphide Mineralization): Intersected discontinuous orthomagmatic sulphide mineralization in the basal cumulate sequence of the Seagull intrusion between ~589 and 608m. Mineralization is disseminated to locally weakly net-textured. Historical drilling reported platinum-palladium mineralization in basal zones (unverified by Anteros). Laboratory assay results are pending.
• Geological Setting: The Seagull intrusion is characterized by a thick sequence of mafic-ultramafic rocks, including several hundred metres of lherzolite and pyroxenite. Under certain conditions, these rock types can undergo serpentinization, a natural process capable of generating hydrogen.
• Future Drilling Strategy: Program aims to further evaluate the gas occurrence, associated geological structures, and sulphide mineralization. Hole WM00-05 is identified as a potential re-entry candidate.
• Proposed Work Scope: May involve refurbishment of existing casing and ~115m of extension drilling to test the ~877m elevation corresponding to the gas occurrence in RM26-01. Program may also include wedging to further evaluate sulphide mineralization within the basal contact zone.
• Operational Approach: Phase 1 extension leverages existing historical drill infrastructure to minimize costs and surface disturbance while advancing key technical objectives.

Notable Quotes

• Trumbull Fisher, CEO: "The proposed phase 1 extension represents a logical next step to build on observations from RM26-01 and advance our understanding of the Seagull critical minerals system. By extending and/or wedging off an existing hole like WM00-05, we aim to further evaluate the gas occurrence and basal sulphide mineralization while minimizing additional expenditure."