Renforth resumes fieldwork at Parbec

Executive Summary

• Renforth Resources has resumed fieldwork at its Parbec gold deposit, specifically targeting chipping, stripping, and the termination of the underground decline, while initiating permitting and environmental baseline studies for a planned underground bulk sample.
• The company received positive results from witness core samples at its Victoria polymetallic deposit, confirming the presence of platinum and palladium within the mineralized ultramafic package, which will be included in future resource statements.
• Renforth completed a previously announced financing transaction and issued 8.85 million stock options to officers, directors, and consultants.

Key Details

• Parbec Gold Deposit Operations:
  • Resumed chipping and stripping program (paused in November) targeting a permitted area within the open-pit footprint and above the planned underground bulk sample location.
  • Proceeding with the termination of the underground decline.
  • Formal exchanges initiated with MRNF and MELCC to confirm the permitting pathway for the bulk sample; feedback confirms regulatory feasibility.
  • ATI permitting process for the bulk sample program has been initiated.
  • Environmental baseline study has been initiated.
  • Geological resource model is being reviewed and updated to focus on an underground mining scenario.
• Victoria Nickel Sulphide Polymetallic Deposit:
  • Witness core samples tested for platinum and palladium confirmed these metals are part of the mineralized ultramafic package.
  • Future assaying will include platinum and palladium.
  • Complete testing of witness core for the current resource will allow the inclusion of platinum and palladium in the next resource statement.
  • Further mineralogical investigation is underway to define mineral phases and locations within the assemblage.
• Financing:
  • Completed previously announced financing.
  • Sold an additional $30,000 in common share units.
  • Sold $15,000 in 2026 flow-through shares.
• Option Issuance:
  • Issued a total of 8.85 million options.
  • Exercise price: $0.05 per share.
  • Term: Five years.
  • Recipients: Certain officers, directors, and consultants.
• Qualified Person:
  • Martin Demers, PGeo, OGQ, Vice-President of Exploration, reviewed and approved the geological information.

Notable Quotes

• No direct quotes from management were included in the provided text.