Nine Mile Metals Closes First Tranche of Private Placement Financing
Vancouver, BC, – February 4th, 2025 – NINE MILE METALS LTD- (CSE:NINE, OTC PINK::VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces that it has completed a first tranche private placement financing for cash proceeds of $25,000 and bona fide debt conversion of $231,150 (the “Private Placement”). The Company issued 12,197,619 units at a price of $0.021 each. Each unit consists of one common share and one common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.05 per Common Share for a period of 5 years from the date of issuance. The common shares and Warrants issued in the Private Placement are subject to a four month and a day hold period. There were no commissions paid. A director and officer of the Company purchased 1,190,476 Units ($25,000) in cash and 1,369,048 Units ($28,750) in the debt conversion converted under the Offering. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation. The Company intends to use the cash proceeds of the Private Placement for general working capital. 11,007,143 units were for the settlement of Convertible Loans that were due on December 14, 2024, and applicable interest thereon, for a combined total of principal and accrued interest of $231,150. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. Charles MaLette President and Director T: 604-428-5171 E: bud@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Nine Mile Metals Announces Private Placement
Vancouver, B.C., Tuesday, January 21, 2025 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces its intention to complete a private placement of up to 18,507,143 units (each a “Unit”) at a price of $0.021 per Unit. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.05 per Common Share for a period of 5 years from the date of issuance (the “Private Placement.”) Up to 7,500,000 of the Units may be sold for cash proceeds of up to $157,500. The Company intends to use the cash proceeds for operating expenses, including legal and audit fees and general working capital. As per the CSE policies, none of the funds raised in the Private Placement will be used for management fees current or owed. In consideration for their services in introducing subscribers to the Company under cash portion of the Private Placement, finders may receive commission of 7% cash and 7% common share purchase warrants, exercisable to purchase one common share at a price of $0.05 for a period of 5 years. The Company also intends to issue 11,007,143 Units for the settlement of Convertible Loans that were due on December 14, 2024, and applicable interest thereon, for a combined total of principal and accrued interest of $231,150. The issuance of Common Shares will not result in a new insider or control person. The Common Shares, and any Common Shares to be issued on exercise of the Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Charles MaLette” President and Director T: 604-428-5171 E: bud@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS OPTION AGREEMENT EXTENDED
Vancouver, B.C., Friday, January 17, 2025 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) has signed an Amending Agreement (the “Agreement”) with Fiddlehead Mining Corp. (“Fiddlehead”) on the Nine Mile Brook Property Option Agreement (the “Option”). To maintain the Option, the Company is required to pay $50,000 on the third anniversary of the Option (the “3rd Anniversary Payment”), and to spend a minimum of $150,000 per year on expenditures (the “Expenditures”) on the mineral properties covered by the Option. The Company and Fiddlehead agreed to extend the time for the Company to make the 3rd Anniversary Payment and the Expenditures to March 28, 2025. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Charles MaLette” President and Director T: 604-428-5171 E: bud@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS ANNOUNCES (7) NEW HIGH PRIORITY TDEM VMS DRILL TARGETS AT THE WEST WEDGE AND TRIBAG ZONES
Vancouver, B.C., Monday, January 6th, 2025 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to provide an update on its Wedge Time Domain Electromagnetic Survey conducted by EarthEx Geophysical Solutions Inc. (EEX) over the Tribag and West Wedge VMS Zone Areas. Previously in 2022, EEX had reprocessed the legacy MegaTEM and Aerodat airborne data, the late time conductance defining a total of (11) Priority VMS Trends in the company’s Western Portfolio. Priority target 1 overlies the Wedge Mine and while priority target 2 is an extension of 1. Approximately 3.0 kilometers northwest of the Wedge Mine are priority Targets 3 and 4 which directly correspond to the Tribag (Pb / Zn) and West Wedge (Cu – Pb – Zn) VMS mineral occurrences while target 7 is approximately 6 kilometers northwest of the Wedge along the same (Wedge VMS Trend). The overall extent of the Wedge VMS Trend is approximately 6.5 kilometers. Two lines were also surveyed over Target 6 north of the Wedge and near the southern terminus of the California Lake East VMS Trend (Target 8) drilled in 2022 (Figure 1) where 8 drill holes confirmed VMS mineralization with drill intersections up to 19m in width. Figure 1: BMC Western Portfolio Projects Gary Lohman, Director, P.Geo., VP Exploration stated, “The size, extent and location of the target plates is very encouraging especially since mineralization is already present above these target plates at Tribag in both drill hole and at surface. With only a third of the extensive Wedge VMS trend surveyed, the team looks forward to not only drilling these priority targets, but also working along the trend to infill the gap between the Wedge mine area, Tribag and further north towards Target 7 in 2025.” Figure 2: Wedge TDEM Survey Grid over Remanent Magnetic Intensity (RMI), covering Targets areas (3-4-6-7) A total of 17.4-line kilometers of Time Domain Electromagnetics (TDEM) were surveyed by EEX, the “Maxwell Plate” modeled results of the strong conductors defining an outstanding cluster of 7 individual targets associated with the Tribag and West Wedge VMS mineral occurrences. The modeled plates are along the same magnetic trend as the historic Wedge Mine. At the Tribag, (Figure 1: Target 4) mineralization occurs both, in previous shallow drill holes and at surface, a grab sample from trench LF17-11 returning 12.6% Zn, 7.22% Pb and 0.53% Cu. At the West Wedge, (Figure 1: Target 3) drilling conducted in the 1980’s report assays up to 0.78% Cu, 5.35% Pb, 12.9% Zn, 70.62 g/tonne Ag and 1.37 g/tonne Au over 3.75 m (12.3 ft) drill width. A total of 7 individual target plates were modeled from the TDEM data with 6 (B1, C1, C2, C3, C4 and D1) shown on Figure 3. Plate A1 is large and at depth, its size suggests a regional, stratigraphic, or structural feature (Figure 4). That has yet to be determined. As shown on Figures 3 and 4, there are 7 modeled target plates clustered adjacent to the Tribag – West Wedge VMS occurrences, and except for A1, all are at modest depths (300-450m) . Another striking feature is their size relative to the mineralized plates defined at the Wedge. These correlate positively with the entire Late Time Conductor Axis Analysis, including the Wedge Mine itself. Figure 3: Plan View, Mineral Occurrences, Survey Grid and Modeled Target Plates over the RMI. Figure 4: Looking West, Target Plates (A1, B1, C1, C2, C3, C4 and D1.) Patrick J Cruickshank, CEO & Director stated “we are very excited with the analytical deliverables from EarthEX on the important Wedge Trend in our western portfolio. The fact that the previously identified strong late-time conductor axis correlates perfectly with the TDEM Survey results and has identified 7 Maxwell Plate targets is outstanding. Many of the VMS deposits identified in the BMC occur in clusters. A perfect example mentioned previously are the HalfMile, Stratmat & Heath Steele deposits. The fact that there is VMS mineralization in previous work above these deeper targets is also very encouraging. These targets will be a Spring 2025 priority drill program as soon as access is possible. Included in that designed program will be additional drill holes in the western Wedge Mine area, testing the deeper, unmined portions of the known deposit and additional new untested western extension areas identified. This project is still a highly valued priority for Nine Mile especially on the heels of our highly successful eastern extension confirmation where drill hole WD-24-02 intersected three mineralized zones spanning from 36.74m to 173.05m. This 136.31m width assayed 0.44% Cu, 0.07% Pb, 0.54% Zn, 0.06 g/t Au and 3.52 g/t Ag. We look forward to updating our recently completed California Lake South Drill Hole with its BHEM Survey and our Nine Mile Brook Project Bulk Sample update.” The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information
NINE MILE METALS CLOSES PRIVATE PLACEMENT FINANCING
Vancouver, B.C. Friday December 27, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce that it completed a non-brokered private placement (the “FT Private Placement”) for proceeds of $160,000 from the issuance of 4,571,429 units of flow-through (each, an “FT Unit”) at a price of $0.035 per FT Unit. Each FT Unit consists of one flow-through common share of the Company and one common share purchase warrant (each, an “FT Warrant”), with each FT Warrant entitling the holder thereof to purchase one common share at a price of $0.05 for a period of 5 years. In consideration for their services in introducing subscribers to the Company under the FT Private Placement, finders and brokers received 320,000 common share purchase warrants, exercisable to purchase one common share at a price of $0.035 for a period of 5 years, and cash of $11,200. The Company intends to use the net proceeds of the FT private placement to carry out the current and intended work programs on its Wedge and California Lake properties. This work will be eligible as Canadian Exploration Expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada). No Related Parties participated in and no new control persons were created by the Private Placement. All securities issued in the Private Placement are subject to a four month and a day hold period. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Charles MaLette” President and Director T: (604) 428-5171 E: info@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C. December 19, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce that it intends to complete a non-brokered private placement offering to raise up to $300,000 through the issuance of up to 8,571,428 flow-through units (each, an “FT Unit”) at a price of $0.035 per FT Unit (the “Private Placement”). Each FT Unit will consist of one flow-through common share of the Company (each a “Common Share”) and one common share purchase warrant (each common share purchase warrant, a “Warrant”), with each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.05 for a period of five (5) years from the date of issuance. The Company may pay finder’s fees of up to 7% of subscription amounts placed, payable in cash, plus issue finder’s warrants in an amount up to 7% of securities sold, with each finder’s warrant exercisable to acquire one common share of the Company at a price of $0.035 for a period of five (5) years from the date of issuance. The proceeds from the sale of the FT Units will be used for exploration costs, including drilling, splitting core samples, assays, and surveys. The Common Shares, and any Common Shares to be issued on exercise of the Warrants and finder’s warrants, will be subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS ANNOUNCES COMPLETION OF PRIVATE PLACEMENT FINANCING
Vancouver, B.C. November 15, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTC PINK: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is issuing the following press release to provide an update to its press release dated September 3, 2024, (click here) and to announce the closing of its private placement to raise $53,332 (the “Private Placement”) through the issuance of an aggregate of 1,066,640 units (each a “Unit”) at a price of $0.05 per Unit. Each Unit is comprised of one common share (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.08 per Common Share for a period of 24 months from the date of issuance. No commissions were paid in connection with this Private Placement. The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital. The Common Shares, and any Common Shares to be issued on exercise of the Warrants, are subject to a hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance of the Units. Charles MaLette, the Company’s President, Director and Corporate Secretary, acquired 400,000 Units in the Private Placement. Mr. MaLette purchased the units for investment purposes. The Private Placement and the acceptance of the subscription by Mr. MaLette was approved by unanimous resolution of the board of directors of the Company. There was no formal valuation of the Company done in connection with the Private Placement nor has there been such a formal valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and 5.7(b) of Multilateral Instrument 61-101 (“MI 61-101”) to avoid the formal valuation and shareholder approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section 5.7(b) the exemption was available as the consideration paid for the Units subscribed for by Mr. MaLette was less than $2,500,000. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS INITIATES DRILLING ON CALIFORNIA LAKE SOUTH HIGH PRIORITY TARGET PLATE A WITH 850 METER DIAMOND DRILL HOLE EEX-P01
Vancouver, B.C., Wednesday, October 30th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to provide an update on its California Lake Phase 2 Drill Program. Nine Mile Metals has initiated its diamond drill program at California Lake to test Priority Plate Target A, defined by EarthEx Geophysical Solutions Inc. (EEX). Les Forages Chapais is onsite, initiating the first of three important drill holes (A-B-C) at California Lake South. Plate A is a deep, large, strong conductor located near the fold nose, defined within a geological package that includes Flat Landing Brook felsic and mafic volcanics-related sediments. The plate, with a length of 600 meters and open at depth, is a high priority target. Previous drilling in the immediate area is minimal and limited to a few shallow drill holes. EarthEx has recommended drilling the target at an azimuth of 110 degrees and a dip of -60 degrees to intersect the most conductive portion of the target plate. The drill hole depth will be a maximum of 850 meters (see Figures 1 and 2). Plates B and C are also high priority targets, both well-defined with strong conductors related to the overall MegaTEM trend. Plate B is a discreet and shallow target dipping steeply east. The azimuth of the planned drill hole is 275 degrees with a dip of -60 degrees and a maximum depth of 300 meters. Plate C is large, dipping to the west, with a length of 700 meters and a projected depth extent of 500 meters. The azimuth of the planned drill hole is 275 degrees with a dip of -60 degrees. EarthEx has designed the drilling parameters for Plates B and C, as shown in Figure 2. Figure 1: Plan View, TDEM Grid, Regional Magnetic trend and Priority Plates A, B, C and D. Figure 2: TDEM Grid, Priority Plates A, B, C, and proposed drill holes. Gary Lohman, Director, P.Geo., VP Exploration stated, “The team is pleased to be at the drill stage at California Lake South with well-defined and modeled targets. Both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC. We are very much looking forward to getting the program underway and testing this underexplored, highly prospective area at the folded nose of California Lake South in the BMC.” Patrick J. Cruickshank, MBA, CEO and Director added, “We are finally receiving all of our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. We look forward to announcing these results shortly. Our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio.” The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. Connect With Us On Social Media Twitter @NineMileMetals LinkedIn Nine Mile Metals Facebook @ Nine Mile Metals Instagram Nine Mile Metals YouTube @ninemilemetals ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: patrick@ninemilemetals.com Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
NINE MILE METALS TDEM SURVEY AT CALIFORNIA LAKE SOUTH IDENTIFIES MASSIVE TARGET WITH 4 HIGH PRIORITY PLATES AND MOBILIZES DRILL RIG
Vancouver, B.C. Tuesday October 15th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to provide an update on its California Lake advanced geophysical program, conducted by EarthEx Geophysical Solutions Inc. (“EEX”). Previously in 2022, EEX had reprocessed the legacy MegaTEM and Aerodat airborne data, the late time conductance defining a total of (11) Priority VMS Trends in the Company’s Western Portfolio. We are currently focused on Target Areas #10 South and #11 South on our California Lake VMS Project, the late time conductance defining a fold nose, the structural trend highlighted by strong conductivity, coincident magnetics and folded Flat Landing Brook volcanics. The target area is approximately 2 kilometers southeast of drill hole CL-23-10-01 and lies within a different structural regime unrelated to the trend that defines CL-23-10-01 (Figure 3). FIGURE 1: EEX TDEM Survey Confirms Massive Target (left), 2022 EEX Reprocessed data with TDEM Grid Overlay (right) To address this high priority target area, EEX conducted ground-based Time Domain Electromagnetics (TDEM) over the fold nose for target definition and drill hole planning. This occurred in 2 stages. In September 2024, EEX completed a total 11.2-line kilometers of TDEM. Preliminary results were very positive, identifying with a strong conductive response that continued east of the TDEM Grid, along the northeast boundary towards Target #11. After consulting with the Technical Team, 5 lines were extended to 2.4 kilometers in length to capture the entire target response and facilitate modeling for drill hole targeting. A total of 18.2-line kilometers at a line spacing of 200 meters were surveyed by EEX. FIGURE 2: EEX California Lake 10 South – 18.2 kms Time Domain Electromagnetic (TDEM) Grid (including extension). EEX has identified and defined (4) strong priority Targets (A – D) and (4) medium priority targets within the grid, coinciding with their original Late Time Conductive Trends as displayed in their previously released Reprocessed EM Portfolio Map, with the red lines above representing strong, late time conductors. Maxwell plate modeling of the (4) strongest conductors provide the dimensions of the prime target area of the anomaly to facilitate drill hole targeting and does not represent the full extent of the conductor. The conductors are open at depth. The Maxwell plates represent the center of the strongest response closest to surface to minimize the length and cost of the DDH. Cali Lake Priority Target A: This is a deep, strong conductor modelled on lines 600N and 800N, the top of the plate at approximately 590 meters below surface and dipping towards the west. The top of the plate is near parallel with the north section of the interpreted MegaTEM strong axis near the fold nose south of target 10. Cali Lake Priority Target B: Priority Target B is a strong conductor located on the northeast end of extension sections of lines 1200N and 1400N. The top of the modeled conductor is approximately 65 meters below surface and dipping towards the east. This conductor trends in the same direction as the strong MegaTEM axes in the southern section of VMS Trend 11 identified previously by EEX. Cali Lake Priority Target C: This strong conductor target is modelled as a deep, large, moderate to strong plate, with the top of model at 500 meters depth and dripping to the west. There is good correlation with the strike of the plate and the strong MegaTEM conductor axis on the southern most end of Target 11. Cali Lake Priority Target D: Target D is near the centre of the grid and in plan view appears near the south end of Target A. In Figure 3, Target D is a shallow, strong conductor of similar strength to A and C at a depth of 100 meters dipping west. EEX also has identified (4) additional medium priority targets (E, F1-F2, G) that are more discreet and locally related to the larger MegaTEM trends. FIGURE 3: Modeled Priority Plates A, B, C and D. Modeled plates A and C (Figure 4) are priority targets having both size and a strong electromagnetic response. The host geology includes felsic volcanics of the Flat Landing Brook Formation (FLB) known to host VMS mineralization in the Bathurst Mining Camp, including the Stratmat, Headway and Louvicourt deposits. Located in the northeastern portion of the grid, Plates A and C may be related, the recently completed UAV Magnetic survey suggesting a possible east-west break fault at the north end of Plate A and the south end of Plate C. This also corresponds to a break in geology, with FLB felsic volcanics and sediments associated with Plate A while both FLB felsic and mafic volcanics-sediments are present at Plate C. Modeled Plates B and D are both shallow and strong conductors but to a less extent compared to Targets A and C. Plate B is in the northeastern portion of the survey grid and associated with previously defined strong MegaTEM conductors, a distinct break seen in the magnetics suggestive of local faulting. The host geology includes both FLB felsic and mafic volcanics. Plate D is in the center of the grid at the fold nose making it a priority. FIGURE 4: EEX Target Sheets displaying Plate Model for Targets A and C. Gary Lohman, Director, P.Geo., and VP Exploration stated, “The Technical Team is pleased with the completion of the UAV magnetics in conjunction with the TDEM survey and Maxwell Plate modeling at California Lake. This target area within the Western Portfolio was identified early in our exploration efforts and we now have the advanced technical data and geology definition to support a robust drill program in this unexplored area. When you discover a folded-nose location in the BMC and back it up with advanced geophysics, defining a very strong large scale vertical target, it becomes a high priority target. Several comparisons in the BMC have resulted in large VMS deposits, including the Bathurst #12.” FIGURE 5: Survey Grid Location over Geology, Historic Drill
September Highlights: Geophysical Advancements and Phase 2 Drilling Underway
To our Nine Mile Metals Community, As we move into October, we’re reflecting on an exciting September. Our focus has been on testing the results of extensive geophysical surveys, expanding our understanding of existing trends and defining new target zones within our Wedge and California Lake projects, and launching our much-anticipated Phase 2 drill program. For those who may have missed it, here’s a recap of what happened over the past month: Geophysical Update – September 10th On September 10th, we announced the completion of four Bore Hole Electromagnetic (BHEM) surveys, three at the Wedge VMS Project and one at California Lake. EarthEx Geophysical Solutions delivered final analyses of the Wedge surveys, leading to the identification of new mineralized target zones. Key findings include: The discovery of new conductor plates in Wedge Target #1, which confirm significant mineralization extending eastward and at depth. The recommendation of a 500m drill hole to intersect deeper mineralized zones based on EarthEx’s 3D modeling of the data. Mineralization above the plate – Indicates positive potential for EarthEx identified “New” Target Zones for Mineralization Gary Lohman, Director, P.Geo., VP Exploration, shared his thoughts: “We are very pleased with both the drill results and subsequent modeling of the BHEM data. Our drilling confirmed the presence of mineralization to the east, the potential of these ‘New’ zones—extension confirmed by the plate modeling which shows robust targets to both the east and at depth. We look forward to the deployment of our Phase 2 drill program, further confirming the overall potential of this Wedge East extension as well as the mineralization expansion at depth.” For more details, read the full release here. Phase 2 Drill Program – September 18th In mid-September, we mobilized our drill rig to the Wedge VMS Project and officially initiated Phase 2 of our drill program. This drill phase aims to test the new geophysical targets identified through EarthEx’s data, and expand our understanding of the Wedge East extension. The team from Les Forages Chapaishas been engaged to drill up to 2,000 meters. We’ve already started drilling and are eager to see how these targets develop. Initial results are expected later in Q4, and we’re optimistic about what we may discover. What’s Next? The geophysical data we’ve collected continues to shape our exploration strategy. With EarthEx’s BHEM, UAV drone magnetics, and TDEM survey data in hand, we are well-positioned to prioritize drill targets as we advance both the Wedge and California Lake projects. In addition to drilling at the Wedge, we’ll eventually be mobilizing the rig to California Lake for the next phase of our exploration. For a deeper dive into the survey results and how they are guiding our exploration strategy, watch our most recent interview where Gary and I break down the survey analyses and share why we’re excited by the potential ahead. Closing Thoughts September was a month of progress and discovery, and as we move into October, we remain focused on delivering results for our shareholders and advancing our projects strategically. In the words of Franklin D. Roosevelt, “The only limit to our realization of tomorrow is our doubts of today,” and we are pleased to say we aren’t doubting the work we are doing today to drive the success of our tomorrow. Thank you for your continued support. Warm regards, Patrick J. Cruickshank, MBA. CEO & Director, Nine Mile Metals Ltd. Join Our Discovery Journey Follow us on Twitter for real-time updates and exciting news. Engage with us on LinkedIn for comprehensive insights and professional networking. Subscribe to our YouTube channel for comprehensive video updates.