Renforth talks financing, awaits assays, plans drilling

Executive Summary

• Renforth Resources provided an update on its corporate activities, including the completion of a $200,000 flow-through financing and the status of pending non-flow-through fund closings.
• The company is awaiting assay results for platinum and palladium from 99 witness core samples at the Victoria polymetallic deposit, with results expected in the current month.
• Permitting is underway for approximately 1,000 meters of drilling at the Victoria deposit, with a target to have drills turning in February 2026 to extend mineralization.

Key Details

• Financing:
  • Raised $200,000 in flow-through funds in December via the sale of shares priced at $0.02 per share.
  • Proceeds are designated for drilling on the Victoria polymetallic deposit.
  • Final closing(s) of non-flow-through funds, pursuant to previously announced terms, will occur on or prior to January 16, 2026.
  • At least one additional closing for the sale of common share units is anticipated before the final closing date.
• Victoria Polymetallic Deposit (Quebec):
  • Assay Results: 99 witness core samples submitted for platinum (Pt) and palladium (Pd) analysis. Previous testing of 16 samples confirmed Pt and Pd presence within mineralized ultramafic packages; future results will be included in the next resource statement.
  • Drilling Plans: Permitting is in progress for ~1,000 meters of drilling. Target is to begin drilling in February 2026.
  • Drill Hole SUR-21-04: Fourth hole drilled at Victoria. Intersected 0.55% Cu over 10.5m (182.7m to 193.2m), including a higher-grade interval of 0.95% Cu over 0.55m. No follow-up has been conducted on this specific hole.
  • Planned Undercutting (SUR-21-28): Planned drilling will undercut hole SUR-21-28, which intersected 0.46% Ni over 12m (187.5m to 202.5m) and a high-grade interval of 3.46% Ni over 1.5m. The hole is 234m long, terminating at ~210m vertical depth.
  • Geological Context: Mineralization is traced down dip through three holes. Successful undercutting would extend mineralization outside currently modeled domains.
• Corporate Governance:
  • Annual General Meeting (AGM) held on December 15; all matters passed.
  • Francis Newton, PGeo, OGQ, is the Qualified Person who reviewed and approved the geological information.

Notable Quotes

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