AuMEGA Metals Cape Ray Drilling Extends Central Zone Mineralisation

Executive Summary

• Diamond drill hole CRD412 intersected 1.85 g/t Au over 13.5 m (including 4.79 g/t Au over 0.85 m) extending mineralisation down‑plunge of the Z04 deposit in the Central Zone at Cape Ray.
• The Company completed its largest surface program to date on Cape Ray West – 91 rock samples and 1,082 till samples collected; assay results are pending.
• A comprehensive EM survey identified several discrete high‑conductivity anomalies consistent with known deposits; final processing is underway.

Key Details

• Drill Program: 9 diamond holes, total 2,559.7 m across a 5.3 km corridor targeting extensions of Central Zone and Window Glass Hill.
• Significant Intercept – Hole CRD412:
• From 340.5 m for 13.5 m @ 1.86 g/t Au (incl. 0.85 m @ 4.79 g/t Au).
• Extends Z04 mineralisation down‑plunge; deposit remains open up‑plunge toward Z41.
• Other Drill Holes: No significant gold assays recorded; provide valuable stratigraphic and structural data for geological modeling.
• Resource Context: Cape Ray hosts 420 koz indicated and 141 koz inferred Au resources (gold price $1,750/oz).
• Surface Program – Cape Ray West: 91 rock + 1,082 till samples over 16 km²; assay results pending.
• EM Survey (May 2025): Preliminary data show several discrete anomalies with magnetic signatures matching Central Zone deposits; final results forthcoming.
• Bunker Hill & Hermitage Programs:
• Bunker Hill: ~4,400 till samples planned over ~75 km²; 50 % complete.
• Hermitage: Preparing largest surface exploration campaign after high‑resolution airborne magnetic survey (late 2024).
• Treasury Position: Cash balance of C$9.2 million, fully funding the extensive 2025 exploration campaign.
• Future Milestones (2025):
• Release of multi‑element assay results for Cape Ray drilling, EM survey, and till programs.
• Launch of Hermitage surface program.
• Additional drilling at Cape Ray and Bunker Hill.
• Resource expansion initiatives at Cape Ray.

Notable Quotes

• Sam Pazuki, Managing Director & CEO: “Our 2025 exploration campaign is the most comprehensive program ever undertaken by the Company… The intercept at Central Zone demonstrates low‑cost resource growth potential and reinforces our confidence in expanding the mineral resource base.”