Inventus Expands Shallow High-Grade Main Layer and Identifies Broad Bulk-Tonnage Gold Potential at Pardo

TORONTO, Sept. 23, 2026 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to report results from 100 drill holes from its now-complete Phase 2 drill program at the 100%-owned Pardo “River of Gold” Project, located 65 km northeast of Sudbury, Ontario. Results from an additional 89 drill holes remain pending (Figure 1).

The latest drilling continues to strengthen the Company’s view of Pardo as a large, shallow gold system with multiple stacked gold-bearing layers and more than one potential development opportunity.

Drilling has identified several areas of higher-grade gold within the Main Conglomerate Layer (“Main Layer” or “MiBC”), highlighted by 4.96 g/t gold over 2.09 m, including 30.04 g/t gold over 0.33 m in PD-26-348, beginning only 2.72 m from surface.

Importantly, these higher-grade results are being returned from several different areas demonstrating continuity. The Main Layer also contains broader lower-grade mineralization between and around higher-grade intervals, showing that the MiBC itself may have potential beyond the higher-grade material being targeted for direct ship ore (“DSO”) development.

Gold mineralization also occurs within the Matinenda Conglomerate (“MaC”), Upper Conglomerate (“MiPC”) and Upper Sandstone (“MiBS”) layers. Together, the MiBC, MaC, MiPC and MiBS form a shallow, stacked system of multiple gold-bearing layers at Pardo (Figure 2). The Company is advancing the shallow, higher-grade portions of the Main Layer as part of its DSO development strategy, while larger volumes of mineralized material, including lower-grade mineralization across all four layers, are defining a broader bulk-tonnage opportunity.

HIGHLIGHTS

• Multiple areas of shallow, higher-grade Main Layer mineralization continue to demonstrate continuity within the near-surface DSO area, where the Main Layer occurs within approximately 15 metres of surface.
  
• Main Layer drilling highlights include:
  
  • 4.96 g/t gold over 2.09 m, including 30.04 g/t gold over 0.33 m, beginning only 2.72 m from surface in PD-26-348.
  • 2.48 g/t gold over 3.71 m, including 8.44 g/t gold over 0.97 m and 12.61 g/t gold over 0.50 m in PD-26-332.
  • 1.05 g/t gold over 8.25 m, including 3.01 g/t gold over 2.55 m and 9.49 g/t gold over 0.44 m in PD-26-324.
  • 2.03 g/t gold over 2.42 m, including 4.02 g/t gold over 1.00 m and 5.74 g/t gold over 0.50 m in PD-26-333.
  • 1.38 g/t gold over 4.78 m, including 2.60 g/t gold over 2.35 m and 6.27 g/t gold over 0.43 m in PD-26-359.
  • 2.00 g/t gold over 2.28 m, including 4.00 g/t gold over 1.00 m and 9.31 g/t gold over 0.30 m in PD-26-379.
    
• Broad lower-grade gold mineralization occurs within the Main Layer itself and within the MaC, MiPC and MiBS layers, showing that gold mineralization at Pardo extends well beyond the higher-grade areas of the Main Layer.
  
• Examples of broader lower-grade mineralization include:
  
  • 0.54 g/t gold over 3.75 m in the MiBC, including 2.67 g/t gold over 0.43 m, in PD-26-367.
  • 0.23 g/t gold over 5.76 m in the MiBC, including 1.08 g/t gold over 0.50 m, in PD-26-399.
  • 0.81 g/t gold over 2.95 m in the MaC, including 1.33 g/t gold over 1.42 m, in PD-26-305.
  • 0.48 g/t gold over 4.88 m in the MaC, including 0.70 g/t gold over 2.58 m, in PD-26-306.
  • 0.50 g/t gold over 5.92 m in the MiPC, including 1.29 g/t gold over 1.30 m, in PD-26-369.
  • 0.27 g/t gold over 6.71 m in the MiPC and 0.43 g/t gold over 1.70 m in the MiBS in PD-26-375.
  • 0.72 g/t gold over 1.84 m in the MiBS in PD-26-316.
    

• Gold mineralization also occurs within the Matinenda Conglomerate (“MaC”), Upper Conglomerate (“MiPC”) and Upper Sandstone (“MiBS”) layers. Together, the MiBC, MaC, MiPC and MiBS form a shallow, stacked system of multiple gold-bearing layers at Pardo (Figure 2). The Company believes the higher-grade portions of the Main Layer could support its DSO development strategy, while the broader lower-grade mineralization across all four layers provides additional bulk-tonnage potential. Heap leaching is being evaluated as one potential lower-cost processing option that could further improve the economics of this material.
  
• Results from an additional 89 drill holes remain pending, with Phase 3 drilling planned to begin in mid-October and the maiden mineral resource estimate planned for Q4 2026.
  

Wesley Whymark, CEO & Director, comments: “These results continue to build our confidence in Pardo. The Main Layer remains the foundation of our near-term development strategy, and we are seeing strong gold grades across several different areas. PD-26-348 is a great example, returning nearly 5 g/t gold over more than two metres starting less than three metres below surface.”

“What is becoming equally interesting is the amount of lower-grade gold mineralization throughout the system. The Main Layer itself contains broader lower-grade intervals in addition to the higher-grade zones, while the MaC, MiPC and MiBS layers are also returning broad gold-bearing intervals. This means we need to look at Pardo as more than just a single high-grade layer.”

“Our DSO area is defined by how close the Main Layer is to surface, not by where the higher-grade gold ends. Strong Main Layer grades continue below and outside the DSO area, while broader lower-grade mineralization across several layers is building a separate bulk-tonnage opportunity. With 89 drill results pending, Phase 3 drilling starting in mid-October, the maiden resource estimate underway, there is still a lot more to come from Pardo.”

PHASE 2 DRILLING UPDATE

Inventus has now completed its Phase 2 drill program at Pardo. The program targeted the shallow and laterally extensive Main Layer, together with the MiPC, MiBS and MaC layers.

Results from 100 holes are reported in this release (see Tables 1 and 2), with assays from another 89 holes pending.

The latest drilling continues to identify several areas of strong Main Layer mineralization across the property. Hole PD-26-348 returned 4.96 g/t gold over 2.09 m from only 2.72 m depth, including 30.04 g/t gold over 0.33 m. Nearby drilling returned 1.71 g/t gold over 1.43 m in PD-26-345, while PD-26-333 returned 2.03 g/t gold over 2.42 m, including 4.02 g/t gold over 1.00 m.

Another area of strong mineralization is highlighted by PD-26-332, which returned 2.48 g/t gold over 3.71 m, including 8.44 g/t gold over 0.97 m and 12.61 g/t gold over 0.50 m.

Additional Main Layer results include 1.88 g/t gold over 1.42 m in PD-26-358, 1.38 g/t gold over 4.78 m in PD-26-359, and 1.64 g/t gold over 1.55 m in PD-26-366.

Farther north, drilling returned 2.00 g/t gold over 2.28 m in PD-26-379 and 2.34 g/t gold over 1.44 m in PD-26-381.

The drilling also shows that the Main Layer contains a wider range of gold grades than the higher-grade highlights alone suggest. Lower-grade MiBC intervals can extend for several metres, including 0.54 g/t gold over 3.75 m in PD-26-367 and 0.40 g/t gold over 4.28 m in PD-26-337. This broader mineralized material adds to the bulk-tonnage potential at Pardo.

The importance of these results is their distribution. Higher-grade Main Layer mineralization is being intersected in several different parts of the drilled area, supporting the Company’s interpretation of a laterally extensive mineralized layer containing multiple areas of higher-grade gold mineralization. This drilling is helping Inventus better understand the full extent and grade distribution of the gold-bearing layers improving confidence ahead of the planned maiden mineral resource estimate. With Phase 2 drilling now complete, Phase 3 drilling is planned to begin in mid-October 2026.

BROAD LOWER-GRADE MINERALIZATION AND BULK-TONNAGE POTENTIAL

One of the more important developments from Phase 2 drilling is the amount of lower-grade gold mineralization being identified throughout the Pardo system.

This mineralization is not limited to the layers above and below the Main Layer. The MiBC itself contains both higher-grade zones and broader lower-grade intervals. This is important because it increases the amount of mineralized material that could potentially be considered in a larger-scale development scenario, beyond the shallow part of higher-grade material currently being advanced for DSO development.

The MaC layer also continues to return encouraging results, including 0.81 g/t gold over 2.95 m in PD-26-305, including 1.33 g/t gold over 1.42 m, and 0.48 g/t gold over 4.88 m in PD-26-306, including 0.70 g/t gold over 2.58 m.

These results build on previously reported drilling that demonstrated the MaC can also contain higher-grade gold (see news release July 6, 2026). The MaC therefore has potential both as a source of broader lower-grade mineralization and as another layer capable of hosting higher-grade gold.

The MiPC layer is particularly interesting because of its thickness and shallow position. Recent results include 0.50 g/t gold over 5.92 m in PD-26-369, including 1.29 g/t gold over 1.30 m, 0.40 g/t gold over 4.63 m in PD-26-368, 0.32 g/t gold over 4.67 m in PD-26-320, and 0.27 g/t gold over 6.71 m in PD-26-375. Other MiPC intersections have been observed to exceed seven and eight metres in thickness.

The MiBS layer has also returned gold mineralization, including 0.72 g/t gold over 1.84 m in PD-26-316, 0.43 g/t gold over 1.70 m in PD-26-375, and 0.34 g/t gold over 3.04 m in PD-26-429. Together, the results demonstrate that Pardo is not simply a single gold-bearing layer. It is a shallow, stacked system where gold occurs across several layers and across a range of grades.

The broader lower-grade mineralization within the MiBC, MaC, MiPC and MiBS layers is defining a significant bulk-tonnage opportunity at Pardo that is expected to be further outlined in the upcoming maiden mineral resource estimate. The shallow, flat-lying geometry of these stacked gold-bearing layers is particularly important because they occur close together, near surface and could potentially be accessed within the same development area.

Earlier heap-leach test work at Pardo returned very encouraging gold recoveries (see news release August 6, 2026), and the Company is continuing to evaluate heap leaching as a potential lower-cost processing method for this material. If further testing continues to support these results, heap leaching could improve the economics of a future bulk-tonnage operation, but the bulk-tonnage potential itself is not dependent on this processing method. Together, the shallow higher-grade DSO potential of the Main Layer and the broader bulk-tonnage opportunity across multiple gold-bearing layers continue to expand the scale and development potential of Pardo.

NEXT STEPS

• Complete and report assays from the 89 drill holes currently pending.
  
• Incorporate Phase 2 drilling results into the geological model for the planned maiden mineral resource estimate.
  
• Commence Phase 3 drilling in mid-October 2026 to further expand the footprint of gold mineralization.
  
• Advance the shallow higher-grade portions of the Main Layer including the ore sorting test work and incorporated into a preliminary economic assessment for the Company’s planned DSO development strategy.
  
• Continue metallurgical test work on the lower-grade mineralization from the MiBC, MaC, MiPC and MiBS layers including heap leaching.
  
• Evaluate the potential for the stacked gold-bearing layers to increase the overall scale and development strategy at Pardo.
  

For further information visit www.inventusmining.com, or contact:

Wesley Whymark
CEO & Director
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005

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Figure 1. Plan map showing Phase 2 drill holes with reported assays in red and holes with pending assays in green.

Figure 2. Simplified geological section illustrating the shallow, stacked gold-bearing layers at the Pardo “River of Gold” Project, including the MiPC, MiBS, Main Layer (MiBC) and Matinenda Layer (MaC).

Table 1. Recent Phase 2 Drilling Assay Highlights.

Drill Hole	From (Metres)	To (Metres)	Zone1	Interval2 (Metres)	Gold Grade (g/t)
PD-26-301	25.86	31.07	MiBC-MaC	5.21	0.43
PD-26-302	30.50	32.51	MiBC-MaC	2.01	0.94
Including	30.95	31.25	MiBC	0.30	4.35
PD-26-304	28.74	32.34	MaC	3.60	0.51
Including	30.96	31.34	MaC	0.38	1.20
PD-26-305	30.47	33.42	MaC	2.95	0.81
Including	32.00	33.42	MaC	1.42	1.33
Including	32.42	32.92	MaC	0.50	2.58
PD-26-306	28.50	33.38	MaC	4.88	0.48
Including	29.92	32.50	MaC	2.58	0.70
PD-26-308	2.67	9.89	MiPC	7.22	0.20
and	12.24	14.68	MiBS	2.44	0.20
PD-26-309	3.63	7.78	MiPC	4.15	0.25
PD-26-312	0.64	4.25	MiPC	3.61	0.35
PD-26-313	0.23	5.03	MiPC	4.80	0.23
PD-26-314	0.68	6.31	MiPC	5.63	0.24
PD-26-315	0.31	8.76	MiPC	8.45	0.16
and	13.45	14.88	MiBS	1.43	0.37
and	25.70	28.70	MiBC	3.00	0.28
and	35.23	37.64	MiBC	2.41	0.23
PD-26-316	0.15	7.43	MiPC	7.28	0.20
and	19.00	20.84	MiBS	1.84	0.72
and	25.03	29.24	MiBC	4.21	0.32
and	31.75	34.22	MiBC	2.47	0.22
PD-26-317	0.50	2.37	MiPC	1.87	0.24
and	29.76	32.21	MiBC	2.45	0.32
and	37.10	40.81	MiBC	3.71	0.46
Including	39.50	40.50	MiBC	1.00	1.21
PD-26-318	0.75	6.83	MiPC	6.08	0.23
and	25.61	30.50	MiBC	4.89	0.21
and	37.86	41.09	MiBC	3.23	0.55
Including	38.82	39.24	MiBC	0.42	1.47
PD-26-319	0.50	8.50	MiPC	8.00	0.23
and	31.61	43.10	MiBC	11.49	0.23
PD-26-320	0.66	5.33	MiPC	4.67	0.32
and	37.90	40.73	MiBC	2.83	1.23
Including	39.38	40.73	MiBC	1.35	2.44
Including	40.23	40.73	MiBC	0.50	5.21
PD-26-322	5.40	10.87	MiPC	5.47	0.32
and	15.78	17.39	MiBC	1.61	1.60
Including	16.23	17.00	MiBC	0.77	2.62
PD-26-323	9.62	14.74	MiPC	5.12	0.26
and	22.25	25.56	MiBC	3.31	0.29
PD-26-324	14.30	22.55	MiBC	8.25	1.05
Including	20.00	22.55	MiBC	2.55	3.01
Including	20.93	21.37	MiBC	0.44	9.49
PD-26-325	14.52	19.55	MiBC	5.03	0.30
PD-26-326	6.70	10.08	MiBC	3.38	0.76
Including	8.62	10.08	MiBC	1.46	1.26
Including	9.72	10.08	MiBC	0.36	3.26
PD-26-327	7.65	12.26	MiBC	4.61	0.63
Including	10.50	12.26	MiBC	1.76	1.43
Including	11.00	11.43	MiBC	0.43	3.83
PD-26-328	9.76	12.15	MiBC	2.39	1.02
Including	11.16	11.80	MiBC	0.64	2.71
PD-26-329	6.89	9.33	MiBC	2.44	0.70
Including	8.89	9.33	MiBC	0.44	1.34
PD-26-332	7.95	11.66	MiBC	3.71	2.48
Including	9.24	10.21	MiBC	0.97	8.44
Including	9.24	9.74	MiBC	0.50	12.61
PD-26-333	4.00	6.42	MiBC	2.42	2.03
Including	4.93	5.93	MiBC	1.00	4.02
Including	4.93	5.43	MiBC	0.50	5.74
PD-26-335	5.40	6.49	MiBC	1.09	1.86
PD-26-337	9.30	12.88	MiPC	3.58	0.25
and	29.00	33.28	MiBC	4.28	0.40
Including	29.50	30.00	MiBC	0.50	1.29
PD-26-338	6.00	8.54	MiPC	2.54	0.33
and	30.12	34.10	MiBC	3.98	0.30
PD-26-339	28.90	32.32	MiBC	3.42	0.40
Including	31.88	32.32	MiBC	0.44	1.85
PD-26-342	3.03	4.96	MiPC	1.93	0.34
PD-26-345	3.35	4.78	MiBC	1.43	1.71
Including	3.35	3.85	MiBC	0.50	3.56
PD-26-348	2.72	4.81	MiBC	2.09	4.96
Including	2.72	3.05	MiBC	0.33	30.04
PD-26-349	1.75	2.68	MiBC	0.93	0.95
PD-26-354	0.00	0.75	MiBC	0.75	1.38
PD-26-355	1.00	1.75	MiBC	0.75	2.12
PD-26-356	0.71	4.95	MiBC	4.24	1.02
Including	2.95	4.44	MiBC	1.49	2.34
Including	3.31	3.61	MiBC	0.30	6.13
PD-26-357	1.25	3.67	MiBC	2.42	0.41
PD-26-358	8.70	10.12	MiBC	1.42	1.88
Including	9.33	10.12	MiBC	0.79	3.14
Including	9.73	10.12	MiBC	0.39	4.96
PD-26-359	5.48	10.26	MiBC	4.78	1.38
Including	7.07	9.42	MiBC	2.35	2.60
Including	7.07	7.50	MiBC	0.43	6.27
PD-26-362	11.60	13.23	MiBC	1.63	0.51
Including	12.45	12.76	MiBC	0.31	1.73
PD-26-363	9.75	12.32	MiBC	2.57	1.08
Including	10.15	10.50	MiBC	0.35	3.57
PD-26-364	9.29	12.19	MiBC	2.90	0.41
PD-26-365	2.97	4.65	MiPC	1.68	0.26
and	12.95	14.76	MiBC	1.81	2.23
Including	13.81	14.76	MiBC	0.95	4.00
PD-26-366	11.12	12.67	MiBC	1.55	1.64
Including	11.40	11.78	MiBC	0.38	2.97
PD-26-367	41.58	45.33	MiBC	3.75	0.54
Including	44.90	45.33	MiBC	0.43	2.67
PD-26-368	6.37	11.00	MiPC	4.63	0.40
and	17.53	19.95	MiBC	2.42	0.21
and	30.09	32.06	MiBC	1.97	0.56
PD-26-369	11.21	17.13	MiPC	5.92	0.50
Including	11.87	13.17	MiPC	1.30	1.29
and	25.80	29.70	MiBC	3.90	0.24
PD-26-370	13.00	18.08	MiPC	5.08	0.30
Including	13.89	14.20	MiPC	0.31	1.07
PD-26-371	10.31	13.85	MiPC	3.54	0.32
and	20.00	24.38	MiBC	4.38	0.21
PD-26-372	11.64	12.83	MiPC	1.19	1.14
and	15.62	17.02	MiPC	1.40	0.31
and	24.41	28.36	MiPC	3.95	0.37
Including	24.91	25.41	MiPC	0.50	1.28
and	47.30	50.65	MiBC	3.35	0.87
Including	47.76	49.27	MiBC	1.51	1.62
Including	47.76	48.11	MiBC	0.35	3.91
PD-26-373	10.48	14.55	MiPC	4.07	0.28
PD-26-375	7.79	14.50	MiPC	6.71	0.27
and	17.98	19.68	MiBS	1.70	0.43
PD-26-377	34.45	37.38	MiBC	2.93	0.98
Including	37.07	37.38	MiBC	0.31	7.67
PD-26-378	1.74	3.32	MiPC	1.58	0.23
and	11.50	12.48	MiBC	0.98	1.62
Including	12.12	12.48	MiBC	0.36	3.30
PD-26-379	7.62	9.90	MiBC	2.28	2.00
Including	8.42	9.42	MiBC	1.00	4.00
Including	8.42	8.72	MiBC	0.30	9.31
PD-26-381	14.04	15.48	MiBC	1.44	2.34
Including	14.66	15.11	MiBC	0.45	4.60
PD-26-382	7.61	8.73	MiBC	1.12	1.37
Including	8.11	8.43	MiBC	0.32	3.15
PD-26-383	7.74	12.26	MiBC	4.52	0.94
Including	10.76	12.26	MiBC	1.50	2.48
Including	11.26	11.76	MiBC	0.50	4.78
PD-26-385	7.00	8.75	MiBC	1.75	0.36
PD-26-387	14.00	15.93	MiBC	1.93	0.38
PD-26-391	36.01	37.63	MiBC	1.62	0.38
PD-26-392	2.00	4.00	MiPC	2.00	0.26
and	8.00	12.06	MiPC	4.06	0.25
and	31.10	35.44	MiBC	4.34	0.32
and	37.63	40.10	MaC	2.47	0.35
PD-26-396	7.52	11.95	MiPC	4.43	0.25
and	27.00	29.00	MiBS	2.00	0.22
and	31.05	34.58	MiBC	3.53	0.28
and	37.47	39.42	MaC	1.95	0.26
PD-26-397	38.59	41.40	MiBC	2.81	0.89
Including	39.09	39.50	MiBC	0.41	3.32
PD-26-399	14.71	18.17	MiPC	3.46	0.33
Including	15.67	16.17	MiPC	0.50	1.29
and	36.00	41.76	MiBC	5.76	0.23
Including	36.44	36.94	MiBC	0.50	1.08
and	40.28	41.76	MiBC	1.48	0.25
PD-26-426	27.30	33.90	MiBS-MiBC	6.60	0.40
Including	32.00	33.90	MiBC	1.90	0.66
PD-26-427	6.90	9.60	MiPC	2.70	0.32
and	34.60	38.77	MiBC	4.17	0.25
PD-26-429	29.06	32.10	MiBS	3.04	0.34

¹ MiBC – Main Layer; MaC – Matinenda Layer; MiPC – Upper Conglomerate Layer; MiBS – Upper Sandstone.
²Interval width is approximate true thickness. Mineralization has a flat to 5-degree dip, and all holes were drilled vertically with an inclination of -90 degrees.

Table 2. Details of Phase 2 drill hole locations reported.

Drill Hole	Inclination (Degrees)	Length (Metres)	Northing (UTM)	Easting (UTM)
PD-26-301	-90	34.00	5183157	555814
PD-26-302	-90	38.50	5183138	555836
PD-26-303	-90	40.00	5183162	555837
PD-26-304	-90	38.50	5183190	555837
PD-26-305	-90	41.50	5183221	555839
PD-26-306	-90	36.50	5183251	555837
PD-26-307	-90	58.00	5183326	555911
PD-26-308	-90	56.50	5183272	555909
PD-26-309	-90	50.50	5183219	555896
PD-26-310	-90	46.00	5183162	555898
PD-26-311	-90	43.00	5183107	555896
PD-26-312	-90	47.50	5183109	555951
PD-26-313	-90	49.00	5183159	555955
PD-26-314	-90	58.00	5183220	555956
PD-26-315	-90	50.50	5183275	555967
PD-26-316	-90	49.00	5183176	555983
PD-26-317	-90	44.50	5183234	555991
PD-26-318	-90	43.00	5183259	556002
PD-26-319	-90	46.00	5183319	556025
PD-26-320	-90	43.00	5183284	556016
PD-26-321	-90	53.50	5183327	555966
PD-26-322	-90	19.00	5183135	556023
PD-26-323	-90	26.50	5183161	556012
PD-26-324	-90	25.00	5183221	556037
PD-26-325	-90	23.50	5183262	556058
PD-26-326	-90	12.00	5183448	556335
PD-26-327	-90	13.50	5183449	556320
PD-26-328	-90	15.29	5183432	556321
PD-26-329	-90	15.00	5183419	556337
PD-26-330	-90	13.50	5183415	556326
PD-26-331	-90	18.00	5183360	556306
PD-26-332	-90	13.50	5183347	556291
PD-26-333	-90	11.50	5183206	556443
PD-26-334	-90	13.00	5183189	556476
PD-26-335	-90	10.00	5183213	556512
PD-26-336	-90	40.00	5183197	556566
PD-26-337	-90	43.16	5183323	556667
PD-26-338	-90	44.50	5183237	556599
PD-26-339	-90	47.00	5183277	556663
PD-26-340	-90	49.00	5183277	556614
PD-26-341	-90	48.45	5183240	556662
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PD-26-429	-90	49.00	5183018	556722

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. We have a 100% interest in our principal assets, the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project, located northeast of Sudbury. The Pardo Gold Project is the first important paleoplacer gold discovery in North America. Inventus has approximately 221 million common shares outstanding.

Qualified Person

The Qualified Person responsible for the technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

Technical Information

Drill core samples collected by Inventus and described in this news release were subject to robust QA/QC protocols. PQ-size drill core was placed in core boxes by the contracted drill crew and then transported by Inventus personnel to a secure processing facility in Sudbury, Ontario. The core was reviewed, with core metreage blocks checked to verify core integrity and recovery, geologically logged, and sample intervals marked. Whole-core samples were then photographed and inserted into clean plastic bags with sample tags. Certified reference materials were inserted into the sample stream at a rate of no less than 10%.

Samples were then transported in secure sealed bags with security tags for preparation and assay by MSA Labs or Paragon Geochemical in Timmins, Ontario. Samples were processed, whereby the entire sample was crushed to 80% passing 2 mm and then riffle split into two (2) or three (3) 300- to 500-g jars for gold analysis by PhotonAssay. Duplicate or triplicate samples were analyzed, and the results averaged. MSA Labs and Paragon Geochemical are both an ISO 17025:2017 accredited geochemical testing laboratory.

Forward-Looking Statements

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/b60ffb62-bdcd-4a06-8cbf-403a1fc2e987
https://www.globenewswire.com/NewsRoom/AttachmentNg/df69534d-ec0e-4939-97ea-e9ea6d26f743