Canadian Metals Initiates Drill Program and Update on the Comprehensive Re-Evaluation Review Across Its New Brunswick Properties and Grants Options

Executive Summary

• Canadian Metals Inc. is commencing a ~3,200‑metre drill program targeting high‑grade zones at the Nicholas‑Denys and Goldstrike projects within the Bathurst Mining Camp, NB.
• The company has begun hyperspectral core scanning of ~18,000 m of historic drill core to create a modern, unified geological model.
• 750,000 stock options were granted to CEO Julien Davy at an exercise price of $0.265 per share.

Key Details

• Drill Program Scope: Approximately 3,200 m of drilling across three key targets – Hachey Zone (high‑grade silver epithermal system), Caribou Road occurrence (antimony target), and Millstream Zones (epithermal vein system).
• Historical Resources: Hachey Zone hosts a NI 43‑101 resource estimate of 181,410 t @ 4.45% ZnEq (Indicated) and 167,050 t @ 3.22% ZnEq (Inferred).
• Target Highlights:
• Caribou Road – historic antimony grades of 2.05% Sb over 3.3 m (trench) and 13.6% Sb over 1 m (drill).
• Millstream Zones – unexplained geophysical anomalies indicating potential epithermal veins.
• Program Timeline: Drilling to start around Dec 5, 2025, pause for year‑end, resume early Jan 2026, and conclude by early Feb 2026.
• Technical Review: Over 500 historic diamond holes, 200 trenches, soil surveys, and geophysical data are being re‑evaluated; ~20,000 m of archived core will undergo hyperspectral scanning (≈18,000 m already completed).
• Technology Partner: LithologIQ (Montreal) providing hyperspectral imaging, machine‑learning interpretation, and mineralogical modelling.
• Option Grant: 750,000 stock options to CEO Julien Davy, exercisable at $0.265 per common share for five years under the company’s stock option plan.

Notable Quotes

“Our objective is to build a coherent geological model that leverages modern technology to unlock the full potential of our projects,” – Julien Davy, CEO, Canadian Metals Inc.

All technical information reviewed and approved by Julien Davy, P.Geo., qualified person under NI 43‑101.