Churchill Intersects 19.23% Antimony over 1.40 Metres at Frost Cove North and at PC Pond Expands Vein Swarm and Intersects New Prospect Grading 0.78% Copper with 61.2 g/t Silver over 6.22 Metres on the Black Raven Project, Central Newfoundland

Churchill Resources Inc. (CRI) has released final assay results from its Spring 2026 drilling campaign at the Black Raven project. The program comprised 23 holes totaling 4,267 meters, divided between the PC Pond and Frost Cove North prospects. The PC Pond sector accounted for 14 holes and 2,979 meters, while Frost Cove North included 9 holes for 1,288 meters.

At Frost Cove North, the highlight was hole FC26-34, which returned 19.23% antimony and 0.73 g/t gold over 1.40 meters, including a higher-grade interval of 56.20% antimony over 0.47 meters. Another notable intercept at the prospect was FC26-31, which intersected 3.24% antimony and 0.39 g/t gold over 0.74 meters. Holes FC26-35 through 39 did not intersect the antimony shear due to microgranite intrusions.

At PC Pond, the company identified a new copper-silver-gold prospect in hole PC26-06, which returned 0.78% copper, 61.2 g/t silver, and 0.23 g/t gold over 6.22 meters. This included a higher-grade section of 1.47% copper, 120.0 g/t silver, and 0.42 g/t gold over 2.66 meters.

Vein-related highlights at PC Pond included channel sample TRPC-02, which returned 2.47 g/t gold and 78.8 g/t silver over 1.58 meters, and hole PC26-03, which returned 3.68 g/t gold and 10.7 g/t silver over 0.67 meters. Hole PC26-16 yielded individual samples up to 1.67 g/t gold, 135 g/t silver, 1.10% lead, and 2.28% zinc, with the best molybdenum result being 1.09% over 0.19 meters.

The company interprets Black Raven as a large-scale mineralized system and plans to conduct delineation drilling in the fall of 2026.

Churchill Resources Inc. (CRI) is a pre-resource explorer with no revenue, a market capitalization near C$16M, and only about C$0.88M cash at Q3 2026. The drilling result must be judged against what the market already assumes.

The prior anchor at Frost Cove was a March 18, 2026 release that reported 7.25% Sb over 1.98m, about 14.4 %·m Sb. The new FC26-34 is about 26.9 %·m Sb, higher tenor but shorter core length and infill in nature.

The stock has round-tripped from C$0.35 in December 2025 to C$0.05 now, near the 52-week low. The market has not embedded these results; it is not priced for success.

Despite that, the release is not transformational because the headline antimony intercept is narrow and true width is absent; the new copper-silver-gold prospect is one hole; and five of nine Frost Cove holes missed the antimony shear.

Mixed evidence: high-grade antimony remains the key prize, and the new copper-silver prospect is an interesting upside. But no volume, no true width, no metallurgical update, and no resource confidence are established.

I would not ascribe a high-conviction 15%+ fundamental move to this release on its own.

Churchill Resources Inc. (TSX-V: CRI) is a Canadian junior explorer whose principal assets include the Black Raven gold-silver-antimony project in central Newfoundland, the Golden Baie antimony-gold property held under option, and the Taylor Brook and Florence Lake properties. The Black Raven project encompasses the past-producing Frost Cove antimony mine and the Stewart gold mine. No NI 43-101 mineral resource estimate has been published for the company.

As of the third quarter of 2026, Churchill Resources reported working capital of C$278,041 and cash holdings of C$878,709. The company carries no debt and has 320,681,940 shares outstanding. For the nine months ended May 31, 2026, the company recorded a net loss of C$6,576,153. The company remains pre-revenue and heavily dependent on equity financing.