Borealis Mining pours first Au, Ag dore at Borealis

Executive Summary

• Borealis Mining completed its first gold‑silver dore pour, producing 65.6 lb (956.7 oz) of dore in two bars.
• The doré was shipped to Asahi Refining for assay and refining; preliminary assays suggest an approximate 50/50 Au‑Ag split.
• Heap leaching continues on ~106,000 t of oxide material with an additional 34,000 t crushed but not yet leached, positioning the company for a second pour in the coming weeks and signaling imminent revenue generation.

Key Details

• First Pour Quantity: 65.6 lb (956.7 troy oz) of gold‑silver doré produced in two bars.
• Assay Outlook: Preliminary results indicate roughly equal parts gold and silver; final assay pending from Asahi Refining (Salt Lake City, UT).
• Processing Volumes:
• ~106,000 t of oxide stockpile currently being heap‑leached with cyanide solution.
• Additional 34,000 t crushed but not yet subjected to heap leaching.
• Carbon Columns: Loaded with gold and silver; expected to support the next pour within several weeks.
• Future Production Outlook: Management expects steady revenue over the next few months and plans to restart full‑scale mining operations at the Borealis mine in the near term.
• COO Quote (Andreas Steckenborn): Highlights the pour as a “genuine milestone,” emphasizing operational optimization, loaded carbon columns, and upcoming revenue growth.
• CEO Qualified Person Statement: Release reviewed and approved by Kelly Malcolm, PGeo, CEO, qualified under NI 43‑101.

Notable Quotes

“This pour represents the first genuine gold and silver production from fresh oxide material that Borealis has crushed, trucked to the leach pad and treated with cyanide… Borealis stakeholders can look forward to steady revenue for the next several months.” – Andreas Steckenborn, COO

Materiality Assessment: Material – Positive (first commercial doré production indicating imminent cash flow and operational progress).