Nine Mile completes fourth drill hole in Wedge program

Executive Summary

• Nine Mile Metals Ltd. completed its fourth drill hole (DDH-WD-25-04) in the Wedge western extension program, intersecting 40 meters of mineralization at depth.
• The hole confirmed the presence of a significant copper-bearing system, characterized by secondary copper minerals (covellite and bornite) and massive to semi-massive copper-bearing sulphides within sheared rhyolite.
• Management highlighted that the successful drilling, combined with a recent oversubscribed financing, secures funding for an extensive 2026-2027 exploration program across the company's portfolio, reducing near-term dilution risk.

Key Details

• Drill Hole ID: DDH-WD-25-04
• Collar Location: Same drill pad as WD-25-01; Azimuth 335 degrees; Dip -60 degrees.
• Final Depth: 239 meters.
• Mineralization Intercept: 40 meters of mineralization, first intersected at 158 meters and continuing to approximately 198 meters.
• Mineralogy:
  • Copper-bearing sulphides (VMS: Cu-Pb-Zn-Ag-Au) found in contact with sheared, graphitic sediments at 158 m.
  • Between 162.0 m and 183 m: Sequence of sheared silicified volcanics (rhyolite) with parallel bands of 5 to 8 percent sulphides (pyrite and chalcopyrite).
  • At 183 m: Sulphide volume increased to 50 to 60 percent with visible pyrite and chalcopyrite (occurring as mineralized bands and disseminations).
  • Presence of secondary copper minerals covellite and bornite confirmed.
• Geological Context: Mineralization occurs within silicified volcanics; base of section is brecciated before transitioning to sediments.
• Sampling: 57 samples identified for base and precious metals analysis (including antimony) and shipped to ALS Global, Moncton, N.B., for rush processing.
• Future Plans:
  • Current program consists of seven planned holes; this is the fourth.
  • Team is laying groundwork for Phase 2 of the Wedge program and the Tribag/west Wedge program for spring.
  • Testing anomalies stretching over six kilometers west of the Wedge deposit.
  • Return to Nine Mile Brook planned.
• Financial Context: Closing of an oversubscribed financing ensures an extensive 2026-2027 exploration program at all four projects (Wedge, Nine Mile Brook, California Lake, Canoe Landing Lake), providing financial strength to avoid near-term capital raises.

Notable Quotes

• Gary Lohman, Vice-President of Exploration and Director: "Drilling continues to intersect massive to semi-massive copper-bearing mineralization in the western portion of the Wedge. The mineralized sheared rhyolite encountered in the drill hole is significant, now appearing in numerous holes with variable amounts of copper-bearing sulphides. Again, the presence of covellite plus or minus bornite confirms the presence of a significant copper-bearing system. When modelled, this unit will assist in targeting future drill holes since it is generally flanked by massive VMS."
• Patrick J. Cruickshank, Chief Executive Officer and Director: "Our drill program successes continue with this 40 m intersect of mineralization in this fourth drill hole WD-25-04... The closing of our oversubscribed financing ensures an extensive 2026-2027 exploration program at all four projects in our portfolio... Our financial strength should allow us to have a lengthy program this year with the luxury of not having to raise for the foreseeable future reducing dilution risk for our shareholders."