Cartier Starts Metallurgical Testwork Program at Cadillac

Executive Summary

• Cartier Resources awarded Soutex a contract to conduct the first advanced metallurgical sampling and testwork program for the Main Sector of its Cadillac Project.
• The program will generate new gold recovery data for the Chimo, East Chimo and West Nordeau deposits, supporting process‑flowsheet development and future trade‑off studies.
• Completion of this de‑risking milestone is expected to improve capital and operating cost estimates and enhance the project’s economic model.

Key Details

• Contract Award: Soutex, a mineral processing and metallurgy specialist, selected to perform comprehensive metallurgical sampling and testwork for the Cadillac Project’s Main Sector.
• Program Objectives:
• Define expected gold recovery rates and improve upon historical Chimo deposit results.
• Establish first‑time metallurgical recovery data for East Chimo and West Nordeau satellite deposits (no prior data).
• Support development of an integrated process flowsheet.
• Provide critical inputs for future trade‑off studies guiding project development.
• Testwork Scope:
• Six composites totaling ~300 kg will be prepared from NQ‑size half‑drill core intervals (two 50 kg composites per deposit).
• Cyanidation tests at three grind sizes on all composites, followed by gravimetric concentration and cyanide destruction testing of gravity tails at the optimal grind size.
• Additional comminution, chemical, and mineralogical characterisation to assess grindability and processing behaviour.
• Historical Context:
• Historical average gold recovery from Chimo mine (1966‑1997) was ~90.6 % (range 94 % – 89 %). No prior metallurgical data exist for East Chimo or West Nordeau.
• Qualified Person: Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, reviewed and approved the technical content per NI 43‑101.
• Strategic Impact: The new data will refine the integrated flowsheet, potentially reducing capital and operating expenditures while improving environmental performance, thereby strengthening the project’s economic outlook and shareholder value.

Notable Quotes

• “The metallurgical program represents a critical de‑risking milestone… it has the potential to significantly reduce both capital and operating costs, while also improving our environmental footprint.” – Philippe Cloutier, President & CEO
• “These initiatives position us to unlock the full value of the Cadillac Project.” – Ronan Déroff, Vice President Exploration