Coniagas Battery Metals Launches HTDEM Survey at Copper-Nickel-Cobalt Graal Property

The most recent news release, dated November 12, 2025, states that Coniagas Battery Metals Inc. has launched an airborne High-Resolution Time-Domain Electromagnetic (HTDEM) survey over its entire Graal property. The survey will cover 578 linear kilometers of flight lines, aiming to define the extension of mineralization and guide the next phase of drilling. The CEO, Frank Basa, expressed excitement, noting that the survey results will provide key information for future drilling, accelerate property development, and enhance exploration results in a region believed to have significant potential for battery metals. The release also mentions a historical drill intersection from 2022 (GRL-22-60) which yielded 0.73% Ni, 0.41% Cu, and 0.09% Co over 28.9 meters, described as the "best result to date on property."

This news represents a routine, positive step forward for Coniagas Battery Metals. The airborne HTDEM survey at the Graal property is a planned exploration activity that has been consistently mentioned in previous news releases (e.g., February 3, 2025; February 25, 2025; March 11, 2025; August 20, 2025). The company received the necessary drilling permit in September 2025, allowing them to advance to this stage.

While any progress in exploration is positive for a junior miner, the launch of a geophysical survey is an expected precursor to drilling and does not represent a new discovery or a significant unexpected development. The mention of a historical drill intersection from 2022, while highlighting the property's potential, is not new information or a new result that would materially alter the company's valuation or outlook.

The company's financial position (cash balance of $9,124 as of March 31, 2025) and its history of management cease trade orders (MCTOs) due to delayed financial filings throughout May, June, and July 2025 indicate significant operational and financial challenges. The successful filing of financials and revocation of the MCTO in late July was positive, but the underlying capital deficiency remains. Funding for this survey and subsequent drilling will be critical.

Therefore, this news confirms the company is executing its announced exploration strategy but does not provide new material information beyond the expected progression of work. It’s a necessary step but not a game-changer.

Coniagas Battery Metals Inc. is a Canadian exploration company focused on the discovery and development of critical battery metals, primarily nickel, copper, cobalt, and platinum group metals (PGMs) in Quebec. Its stated strategy is to create shareholder value by developing its mineral properties with the intention of becoming a critical metals supplier to the electric vehicle (EV) market.

Flagship Project: Graal Property * Location: Situated near Saguenay-Lac St. Jean, Quebec, Canada. The region offers strategic advantages including excellent access to infrastructure (road accessible, proximity to Chute-de-Passe power station, Lac-St. Jean industrial hub with skilled workforce and port access to the St. Lawrence River). * Ownership: 100-per-cent-owned by Coniagas. * Commodities: Prospective for high-grade nickel and copper, with cobalt, platinum, and palladium as byproducts. * Stage: Early-stage exploration. * Previous Findings: Historical exploration involved geophysics and shallow drilling, which reportedly hit mineralization in almost every hole. The deposit model is described as an "open-pit deposit model" along a six-kilometre strike length. * Key Historical Drill Intercepts: The news often references results from 2022, such as hole GRL-22-60 in the MHY zone (28.9m of 0.73% Ni, 0.41% Cu, 0.09% Co) and NRC-21-03 in the Discovery zone (5.7m of 0.84% Ni, 0.59% Cu, 0.09% Co). * Development Path: The company's near-term plans include additional drilling, an NI 43-101 resource report, metallurgical testing, and consultations with First Nations. * Research Partnership: The company is collaborating with Université du Québec à Chicoutimi (UQAC) to research metallogenic processes at Graal, aiming to improve exploration models.

Other properties include the Lac Suzanne Property (subject to 2% Gross Metal Royalty) and the Chute-des-Passes Property (subject to 2% NSR, 1% redeemable for $750,000).