Mosaic completes airborne mag survey at Golden Island

Executive Summary

• Mosaic Minerals Corp. has completed a helicopter-borne magnetic survey covering the entire Golden Island property and obtained impact work permits from the Quebec Ministry of Natural Resources.
• Drilling permits are expected to be issued in the coming weeks, with a drilling campaign planned for spring 2026.
• The release provides historical context on the Tiblemont Island gold mine, including historical resource estimates and past exploration results to contextualize the new survey data.

Key Details

• Survey Completion: Completed an airborne magnetic survey of the entire Golden Island property, providing a new high-resolution data set to help plan the next exploration campaign.
• Permitting Status: Obtained authorization for impact work from the Quebec Ministry of Natural Resources; drilling permits are anticipated in the coming weeks.
• Future Plans: A drilling campaign is planned for spring 2026, contingent on snow melt and permit issuance.
• Historical Resource Estimate: A non-compliant historical estimate indicates 391,000 tons at a grade of approximately 2.8 grams per tonne (g/t) gold at a depth of just under 60 metres (GM41028).
• Historical Infrastructure: The site contains remains of the former Tiblemont Island gold mine (discovered 1932), including nearly 3,350 linear metres of trenches, a 155-metre vertical shaft, a 360-metre adit, and underground development extending to 1,800 metres at the 360- and 485-metre levels.
• Past Drill Results: In 1982, SOQUEM drilled eight holes (1,150 metres total). Notably, drill hole 82-5 intersected a 4.7-metre interval grading 1.31 g/t gold, located approximately one kilometre northwest of the main zone.
• Project Location: Golden Island is located on Tiblemont Island, accessible via Regional Road 113 and boat launch from Tiblemont Lake near Senneterre, Quebec.

Notable Quotes

• "We are pleased to have a new high-resolution data set from the airborne magnetic survey. This provides a new perspective, combined with the large historical data sets, and it will help us plan the next campaign. We look forward to beginning drilling as soon as possible after the snow melts," said Jonathan Hamel, Mosaic Minerals president and chief executive officer.