Renforth completes stripping activities at Parbec

Executive Summary

• Renforth Resources completed its first season of stripping activities at the Parbec gold deposit, covering approximately 2,200 square meters within the open-pit design area.
• The company closed the first tranche of its previously announced financing, raising $258,000 through the issuance of shares and warrants on both flow-through and common share bases.
• Unexpected geological structures and gold-associated lithologies were identified during surface trenching, validating drill data interpretations; the company plans to resume stripping and sampling in the spring.

Key Details

• Stripping Operations:
  • Total surface area of completed trenching: ~2,200 square meters.
  • Location: Within the open-pit design area of the Parbec gold deposit.
  • Geological Findings: Visual observations confirmed faults and structures crossing the Cadillac Break at oblique and perpendicular angles, supporting prior drill data interpretations.
  • Lithology: Several gold-associated lithologies previously seen only in drill core were identified at surface.
  • Sampling Status: Grab samples were collected; channel sampling was not completed due to freezing conditions preventing proper washing of exposed rocks.
  • Future Plans: Continue stripping, mapping, washing, and sampling the remaining permitted area in the spring.
• Financing (First Closing):
  • Total Gross Proceeds: $258,000.
  • Flow-Through Basis: Issuance of 10.8 million shares and 5.4 million warrants.
  • Common Share Basis: Issuance of 2.1 million shares and 2.1 million warrants.
• Corporate Events:
  • Attendance at Duetsche Goldmesse in Frankfurt.
  • Presentation scheduled for Saturday, Nov. 15 at 9:45 a.m.

Notable Quotes

• "Visual observations confirm the presence of faults and structures crossing the Cadillac Break at oblique and perpendicular angles, supporting the company's interpretation of drill data indicating such features."
• "These faults and structures were unexpected, as prior surface channel and drill data from the area did not indicate their presence."