Greenlight receives regulatory OKs to drill at Bend

Executive Summary

• Greenlight Metals Inc. has received all required regulatory approvals from the Wisconsin Department of Natural Resources (WDNR) and the U.S. Forest Service (USFS) for exploration drilling on the Soo Line mineral parcel at its Bend VMS project.
• Mobilization of two diamond drill rigs has commenced for the 2026 winter exploration program, with drilling expected to begin shortly.
• The expanded program aims to test down-plunge and down-dip extensions of the high-grade copper-gold-tellurium system, utilizing up to 7,000 meters of permitted drilling across 15 pads.

Key Details

• Regulatory Approvals: Conditional approval secured from WDNR and authorization from USFS for exploration drilling on the Soo Line mineral parcel.
• Drilling Scope: Permits allow for approximately 7,000 meters of drilling across up to 15 permitted drill pads.
• Contractor: Taconite Drilling LLC (veteran-owned, Minnesota-based) has been re-engaged following successful execution of the phase 1 program in 2025.
• Program Objectives: Focus on continued testing of down-plunge and down-dip extensions of the high-grade copper-gold-tellurium system.
• Technical Methodology: The 2026 winter program will include borehole electromagnetic (BHEM) surveys on drill holes to generate real-time 3-D plate models for optimizing drill targeting.
• Target Area: Drilling will focus on the northeast down-plunge extension of mineralization delineated during the phase 1 fall program.
• Schedule: An initial portion of the permitted meterage will be completed during the current winter program; the remainder is scheduled for drilling following spring breakup.
• Federal Permitting: The company is actively engaged with the U.S. Forest Service and Bureau of Land Management regarding a prospecting permit application on adjacent federal lands, with plans to expand drilling onto these parcels later in 2026 subject to approval.
• Historical Context (Phase 1 Results): The previous phase 1 program (completed 2025) delivered exceptional results, including 34.25 meters averaging 3.74% copper equivalent in hole B25-004, with significant tellurium values encountered throughout.

Notable Quotes

• "We are pleased to be working with Taconite again as we enter this exciting next phase of exploration at Bend. Their performance during phase 1 demonstrated their expertise in mineral exploration drilling and their alignment with our safety and operational standards. With regulatory approvals in hand and two rigs now mobilizing, we are positioned to significantly advance the Bend project while continuing to unlock the exceptional copper-gold-tellurium potential we have demonstrated to date." — Matt Filgate, President and CEO