Carmanah hires Warrior for initial drilling at Heritage

Executive Summary

• Carmanah Minerals Corp. has engaged Warrior Drilling Ltd. to conduct an initial drill program at its Heritage gold-silver project in Newfoundland, targeting the historic Eagle Zone.
• The program consists of up to three holes totaling approximately 500 meters, aimed at validating historical data and advancing the project toward a modern NI 43-101 compliant resource estimate.
• Historical data indicates the Eagle Zone contains 1.08 million tonnes grading 2.19 g/t AuEq for 76,074 ounces, with select intervals showing high-grade silver (up to 10,516 g/t Ag) and gold (up to 46.5 g/t Au).

Key Details

• Drilling Engagement: Warrior Drilling Ltd. engaged for the initial program.
• Program Scope: Up to three holes, totaling approximately 500 metres.
• Target Area: Historic Eagle Zone on the Burin Trend, Newfoundland.
• Objective: Confirm and validate historical results; advance toward a modern National Instrument 43-101-compliant resource estimate.
• Historical Resource Estimate (Non-NI 43-101):
  • Tonnes: 1.08 million tonnes.
  • Grade: 2.19 grams per tonne (g/t) gold equivalent (AuEq).
  • Contained Metal: 76,074 ounces of gold equivalent.
  • Status: Open in all directions; drilled only to shallow depths (~100 metres).
• Historical High-Grade Intervals:
  • Hole HE-20-16 returned up to 10,516 g/t silver (Ag) and 46.5 g/t gold (Au) over 0.12 metres.
• Project Geology & Potential:
  • Hosted in the Avalonian epithermal belt.
  • Geophysical data suggests mineralization extends over at least 1.5 km of strike length.
  • Part of the larger Point May epithermal system (4.5 by 5.2 km corridor) with over 20 additional high-priority targets.
  • Limited modern exploration completed, leaving significant discovery potential.
• Infrastructure: Year-round access, nearby power, paved roads, and proximity to two deepwater, ice-free ports.
• Qualified Person: Mike Kilbourne, PGeo.

Notable Quotes

• "We are very much looking forward to having a drill turning... Even though this is not a large drill program, it represents an important technical milestone -- one that allows us to verify the historic data and demonstrate the continuity and scale of the Heritage system." — Fraser Rieche, CEO