Stuhini hires Tetra Tech to assess Ruby Creek viability

Executive Summary

• Stuhini Exploration Ltd. has engaged Tetra Tech Canada Inc. to conduct a conceptual-level economic viability assessment for its 100%-owned Ruby Creek molybdenum deposit in British Columbia.
• This engagement is the initial step toward preparing a Preliminary Economic Assessment (PEA), contingent on market conditions, to evaluate the project's development potential.
• The assessment will leverage historical data, including a 2006 feasibility study, 74,000 meters of drilling, and existing permits, to provide a refreshed economic view of the asset.

Key Details

• Engagement: Tetra Tech Canada Inc. hired to complete a conceptual-level economic viability assessment.
• Objective: Advance the economic assessment of the Ruby Creek molybdenum deposit and prepare a Preliminary Economic Assessment (PEA) if market conditions warrant.
• Project Location: Ruby Creek project, near Atlin, B.C., within the prolific Atlin mining district.
• Ownership: 100% owned by Stuhini Exploration Ltd.
• Historical Data Utilized:
  • 2006 feasibility study.
  • Approximately 74,000 metres of drilling.
  • Extensive metallurgical and environmental work.
  • Existing British Columbia Mines Act permit (currently in care and maintenance).
  • Updated market pricing and cost inputs.
• Mineral Resource Estimate (2022 NI 43-101):
  • Measured and Indicated: 433 million pounds of molybdenum (369.4 million tonnes at 0.053% Mo).
  • Inferred: 43.7 million pounds of molybdenum (41.9 million tonnes at 0.047% Mo).
• Exploration History:
  • Over 30 years of exploration and development.
  • Historic 2008 feasibility study.
  • Mineralization remains open in three directions and at depth.
  • Specific intercept: 45 metres grading 0.23% molybdenum at the bottom of hole AD-417.
• Project Scope:
  • Total land package: 29,734 hectares.
  • Hosts 48 documented mineral occurrences, including zones prospective for gold, silver, and tungsten.
• Infrastructure: Fully road accessible; proximity to growing hydroelectric infrastructure led by the Taku River Tlingit First Nation.
• Qualified Person: Nicholas Clive Aspinall, MSc, PEng, consulting geologist to Stuhini.

Notable Quotes

• "With molybdenum increasingly recognized as a critical metal in both industrial and green energy applications, we believe Ruby Creek stands out as one of the more compelling undeveloped molybdenum assets in North America," said Meredith Eades, president and chief executive officer of Stuhini.
• "Engaging Tetra Tech is an important milestone in understanding the deposit's viability and advancing this part of our portfolio. It also reflects our broader strategy to unlock value on both the development and discovery fronts at Ruby Creek."