Renforth hires Mort as specialist consultant

Executive Summary

• Renforth Resources Inc. announced a private placement financing to raise $1 million via the issuance of units priced at 2.5 cents per unit.
• The company retained Dr. Haydon Mort as a specialist geochemical consultant to lead high-level analysis and 3-D lithogeochemical correlation for the Victoria Ni sulphide polymetallic deposit.
• The technical engagement aims to derisk the next drill program by decoupling overlapping nickel and zinc signatures to identify high-grade blind targets for future drilling, while the company awaits permits for a previously announced three-hole program.

Key Details

• Financing Structure: Non-brokered, best-efforts private placement.
• Gross Proceeds: $1,000,000.
• Unit Price: 2.5 cents per unit.
• Warrant Terms: Each unit includes one common share and one purchase warrant. The warrant entitles the holder to purchase one additional common share at an exercise price of 5 cents per share for a period of 24 months subsequent to closing.
• Consultant Appointment: Dr. Haydon Mort hired as specialist consultant with 15 years of academic and industry expertise in geochemistry.
• Technical Objective: Dr. Mort will lead 3-D lithogeochemical correlation and vectoring to create a high-fidelity map of the system's architecture.
• Exploration Strategy: Transition from general exploration drilling to precision targeting by isolating specific alteration halos pointing to the core of undiscovered primary VMS (volcanogenic massive sulphide) vents.
• Data Integration: Current focus on integrating 3-D spatial data with legacy "factor analysis" by Dr. Jim Franklin to define highest-priority blind targets.
• Drilling Status: Company awaits permit for previously announced three-hole program designed to undercut high assay values from prior drilling. Dr. Mort will develop a separate drill program targeting these blind targets.

Notable Quotes

• "Bringing Dr. Mort and his geochemically driven exploration expertise into the fold allows us to pick up where Dr. Franklin unfortunately left off, bridging the gap between Jim's highly regarded VMS expertise as applied at Victoria and modern data-driven exploration. We are essentially using Haydon's several proficiencies to strip away the geological 'noise' and focus our search on the high-grade 'signal' that we believe is lurking at depth, as suggested by the work of Dr. Franklin," states Nicole Brewster, president and chief executive officer of Renforth.