1844 Resources Defines Priority Drill Targets at SV2 Copper Project Following Geophysical Survey

Executive Summary of Latest Release (April 22, 2026)

• 1844 Resources Inc. completed and interpreted an airborne geophysical survey at its SV2 copper project in Québec's Gaspé Peninsula.
• The survey results provide a structural and geological framework to define priority drill targets for the upcoming drilling program.
• Geophysical data identified structural corridors, magnetic responses correlating with mineralization, and intrusive signatures consistent with a large-scale mineralizing source.
• Radiometric data highlighted alteration patterns associated with porphyry-style systems.
• The company is integrating geophysical, geological, and historical drilling data to finalize priority targets before execution of the upcoming program.

Context from Historical News (Oldest to Most Recent)

• October 2025: Acquired SOQUEM's 50% interest in Vallieres Project, consolidating control over Sullipek Deposit; completed high-resolution airborne survey.
• November 2025: Announced strategic financing round targeting up to $500,000 gross proceeds.
• January/February 2026: Completed initial and final tranches of private placement, raising cumulative gross proceeds of approximately $395,589.50.
• April 9, 2026: Secured all required drilling permits for SV2 project; first drill-ready status in over a decade.
• April 16, 2026: Refined geological model identifying porphyry- and skarn-style copper potential; planned drill campaign for late summer/early fall 2026.
• April 22, 2026 (Current): Geophysical survey completed; priority targets defined; drilling program preparation ongoing.

Evaluation of News Impact

• The news confirms the execution phase of the strategy announced in January and February 2026 financing rounds.
• Permit acquisition (April 9) was a prerequisite for this step; target definition is a logical follow-up to the geological model refinement (April 16).
• No new resource estimate or discovery announcement is included, only the identification of targets for future drilling.
• The market likely anticipated these steps following the permit acquisition and financing closure.

Comparison to Expectations

• In Line: The progression from permits -> geophysics -> target definition matches the timeline outlined in previous releases (late summer/fall 2026 drilling).
• No Surprise: There is no material deviation from the previously communicated work program or capital requirements.
• Risk Mitigation: Confirmation of drill readiness reduces regulatory risk, but does not eliminate geological or financial execution risks.

Project Details

• Flagship Asset: SV2 Copper Project (Vortex/Sullipek/Vallieres).
• Location: Gaspé Peninsula, Québec, Canada.
• Land Position: 130 claims covering approximately 68 km² within the Gaspé copper belt.
• Proximity: Located 22 km west of Osisko Metals' Murdochville project (advanced stage mine).
• Mineralization Style: Porphyry- and skarn-style copper deposits associated with felsic to intermediate porphyritic intrusions.

Resource Status

• NI 43-101 Inferred Resource: 2.24 Mt grading 1.09% Cu on the Sullipek property (approx. 24,000 tonnes contained copper).
• Historical Data: 1993 Geostat study reported 5.9 million tonnes at 0.82% Cu (non-compliant); August 2012 drilling intersected 29.8 metres grading 0.94% Cu.
• Status: Exploration/Development; drill permits secured for first time in over a decade.