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.
NINE MILE METALS ANNOUNCES DRILLING TO START ON NEW MINERALIZED TARGET ZONES AT THE WEDGE PROPERTY
Vancouver, B.C. Wednesday September 18, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce it has initiated its Phase 2 drill program on the Wedge VMS Project. Les Forages Chapais from Sussex, N.B. (“Chapais”) has been engaged to drill up to 2,000 metres. Chapais is onsite in the BMC and mobilizing the drill rig from California Lake to the Wedge Property. Drilling should commence by the weekend. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on 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 the Company expects to start drilling should commence by the weekend. 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 WEDGE BHEM ANALYSIS AND NEW MINERALIZED TARGET ZONES
Vancouver, B.C. Tuesday September 10th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce the completion of its (4) Borehole Electromagnetic (BHEM) Surveys, (1) at California Lake DDH 23-10-01 and (3) at the Wedge VMS Project, DDH WD-24-01, WD-24-05, and WD-24-06. EarthEx Geophysical Solutions, “EarthEx”, completed the surveys and have delivered the Final Analysis and interpretation of the (3) Wedge BHEM surveys. The California Lake BHEM survey results have not been received and are pending. At the Wedge Target #1, EarthEx recommended (3) BHEM surveys to provide a robust 3D model to assist in interpretation when combined with the expansive magnetic coverage of the new eastern extension area of the Wedge Deposit. This was on the heels of a very successful Spring Drill Program (Results in Figure 6 below), which confirmed the “Newly Discovered” eastern mineralization extension zone (Wedge Extension East). The results of these (3) successful BHEM Surveys are described below, with (2) recommendations from EarthEx. Figure 1 is a plan view showing traces of the successful 2024 drill holes (WD-24-01, WD-24-05 and WD-24-06) and the “New” modeled target plates. Important to note are the size of plates WD-05_A1, WD-05_B1 and WD-05_B2 and the extension of all plates to the east. Modeled target plates WD-05-B1 and WD-05-B2 are near vertical and were not intersected in the 2024 drill program recently completed. To intersect the modeled plates at depth, EarthEx recommends a 500m drill hole, WD_P01, as shown below in purple. Figure 1: Plan view, 2024 drill holes and modeled conductive plates The BHEM survey of WD-24-01 identified two “New” plates zones that were used to model a moderate to strong conductor approximately 30 meters down the hole (WD-01-A1). An in-hole anomaly extends downward indicating a moderate to large size conductive body (WD-01-A2). The conductor correlates with an 11.10-meter zone of pyritic VMS mineralization assaying 1.37% Cu. An off-hole anomaly pointing above the drill hole potentially suggests a thicker, more massive part of the broader conductor modeled by 24-01-A2. The BHEM also showed a buildup of response near the end of the drill hole, suggestive of an additional conductive body at depth, just out of BHEM reach, however, we could conduct a BHEM Survey once this “New” Drill Hole has been completed through these New Target Zones. Figure 2: Plan View, Cross Section Looking East, Plates WD-01_A1, WD-01_A2 Drill Holes WD-24-05 and WD-24-06 were collared at the crest of the hill targeting the unmined, eastern portion of the Wedge. Both drill holes were successful, identifying copper dominant VMS mineralization, drill hole WD-24-05 intersecting (4) zones of mineralization from 18m – 119m. Both drill holes were surveyed by EarthEx and were successful in confirming the size of plate WD-05_A1 and at depth, plates WD-05_B1 and WS-05_B2 (Figure 3). Figure 3: Plan View and Cross Section (Looking West) Drill Holes WD-24-05, WD-24-06 and Modeled Plates WD-05_B1 and WD-05_B2 The survey results from drill hole WD-24-05 had a broad in-hole response and a smaller short wavelength anomaly which, when superimposed upon it at a depth of approximately 165 meters, correlated with mineralization in the drill hole, the larger modelled plate WD-05_A2 aligning well with mineralized zones in numerous adjacent holes, both historic and recent, all showing anomalous copper. The down dip extension of the plate is further supported by a historic Cominco drill hole (WE-17) which intersected 8.44 meters of 1.23% Cu. The long wavelength responses in drill hole WD-24-06 when combined with the same response from WD-24-05 at a depth of 175 meters does not fully account for the buildup response at the end of WD-24-05. This is interpreted to be due to the presence of an additional conductor or conductors beyond the end of the hole, plates WD-05_B1 and WD-05_B2 respectively (Figure 3). Figure 4: Mineralization above the plate (Indicates positive potential for EarthEx identified “New” Target Zones for Mineralization Gary Lohman, Director, P.Geo., VP Exploration stated, “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. Due to the positive results, recommendations by EarthEx includes drilling a 500-meter hole as shown in the above figures or extending drill hole WD -24-02 which assayed 0.44% Cu over 136.31 meters including a 40-meter width assaying 1.32% Cu, 0.21% Pb, 1.54% Zn, 8.8 g/t Ag and 0.164 g/t Au. Additional drill holes are also being considered by the Technical Team including a drill hole 150 meters even further east of the those in the 2024 drill program.” Patrick J. Cruickshank, CEO & Director stated, “This highly advanced Geophysical Analysis demonstrates the power of these new interpretation techniques from EarthEx and their team of industry leading experts in this field. Their proprietary Algorithms and Modeling is second to none. Remember, this encompassing overall program including complete Final integration in one comprehensive Model of the following programs: UAV 3D Drone Magnetics, multiple targeted TDEM Surveys and BHEM Surveys, will unlock a multiple of New Targets and confirm the known high priority targets already in our portfolio. We look forward with great anticipation to the results of the California Lake 10 South Ground Based TDEM Grid, which has now been completed. The data is presently being processed by EarthEx and anxiously await the modeled results with target plates. Our stated mandate of exploring and confirming the possibility of the Wedge Mine Deposit having not only life left in it, but a footprint significantly larger is taking shape. The Historic Wedge Mine was prematurely shutdown, and now, utilizing New Geophysical Technologies combined with today’s economic, Copper – Au commodity prices, paired with exploration to
Summer Wrap-Up Newsletter: Key Milestones as We Prepare for Phase 2 Drilling
To our Nine Mile Metals Community, As we close out the summer of 2024 and head into the fall, we’re pleased to update you on the strong progress we’ve made over the past few months. Our exploration efforts have advanced significantly, particularly with the success of the Wedge Phase 1 Drill Program, which produced encouraging assay results. Coupled with strategic geophysical surveys, these findings have laid a strong foundation for our upcoming Phase 2 drill program, set to begin in Q4. Below is a recap of our key activities and milestones from June through August. Strategic Geophysical Surveys In June, we engaged EarthEx Geophysical Solutions Inc. to lead an Advanced Geophysical Program across our Western Portfolio, including VMS trends at California Lake East, California Lake West, and the Wedge. The program involves UAV drone surveys, borehole electromagnetic (BHEM) surveys, and ground-based time-domain electromagnetic (TDEM) surveys, all of which are critical to identifying high-priority targets for both infill and exploration drilling. Read the full release here. In July, EarthEx mobilized to the Bathurst Mining Camp, establishing a permanent presence to expedite data collection and analysis. Their on-site residence has accelerated progress, enabling efficient data interpretation that is key to informing our next steps. June 24th Highlights: Drill Hole WD-24-05 & WD-24-06 Assay Results Our June 24th news release announced significant assay results from two of the final drill holes in our Phase 1 Wedge East Drill Program. These findings continue to validate our exploration strategy, uncovering promising copper, zinc, gold, and silver mineralization. WD-24-05 Key Assay Results: Drilled to a total depth of 272m, WD-24-05 intersected four distinct zones of visible sulphide mineralization, with notable highlights including: Zone 1 (18.35m – 26.35m) 8.00m assayed 0.82% Cu, 0.54% Zn, 0.04g/t Au, and 3.00g/t Ag (Cu-Eq: 1.04%). Includes 4.00m of pyritic VMS grading 1.20% Cu, 0.43% Zn, 0.05g/t Au, and 3.50g/t Ag (Cu-Eq: 1.40%). Zone 3 (87.00m – 105.00m) 18.00m assayed 0.72% Cu, 0.33% Zn, 0.03g/t Au, and 2.20g/t Ag (Cu-Eq: 0.87%). Includes 5.00m of pyritic VMS grading 1.20% Cu, 0.29% Zn, 0.03g/t Au, and 2.00g/t Ag (Cu-Eq: 1.33%). A cross-section diagram showcasing the key mineralized zones identified in drill hole WD-24-05 the Wedge. WD-24-06 Key Assay Results: WD-24-06, drilled to a depth of 215.50m, also intersected notable mineralization between 68.00m and 78.00m. This 10m zone contains significant copper, zinc, gold, and silver grades, further defining the depth and scope of mineralization at the Wedge. A summary cross-section diagram of our Wedge East 2024 Drill Program #1. These intervals highlight the continuity of copper-dominant mineralization along the eastern extension of the Wedge, reinforcing our understanding of the mineralized trends and providing strong justification for further drilling and resource expansion as we prepare for Phase 2. See Gary and myself on site at the Wedge discussing the quality of the property and how we’re utilizing technology to establish dominant trends and targets in the area: Geophysical Progress In addition to the promising assay results, we’ve been leveraging EarthEx’s geophysical expertise, sharing legacy Cominco and recent drill data. This information is being used to interpret high-definition 3D models that will be instrumental in guiding the selection of Phase 2 drill targets. In August, we announced the progress and completion of several key geophysical surveys as part of our Western Portfolio Advanced Geophysical Summer 2024 Exploration Program in the Bathurst Mining Camp: Three BHEM surveys at the Wedge have been completed, and we are awaiting final results, including processing, interpretation, and 3D modeling. The BHEM survey at California Lake (Hole CL-23-10-01) has been initiated, with results pending. UAV Drone 3D magnetic survey: Data acquisition of the planned 1400-line-kilometer survey is nearly complete. Ground-based TDEM surveys have been initiated. Additionally, our Les Forages Chapais Drill Rig is onsite and ready, awaiting final drill target processing from EarthEx’s data analysis. Watch below for an update on recent developments at California Lake and The Wedge: Looking Ahead As we transition into the fall, our primary focus remains on optimizing our Phase 2 drill program. The groundwork we’ve laid this summer through meticulous survey planning, data collection, and analysis ensures that we are targeting the most promising zones of mineralization and managing our resources prudently. At Nine Mile, we believe that preparation is the key to success, and that belief guides every step we take. As Henry Ford once said, “Before everything else, getting ready is the secret of success.” Thank you for your continued support. We look forward to sharing more updates as we move closer to our Q4 drilling phase and beyond. Best, Patrick J. Cruickshank, MBA. CEO & Director, Nine Mile Metals Ltd. 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.
Nine Mile Metals Amends Private Placement Financing
Vancouver, B.C. September 3, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is issuing the following press release to amend its press release dated August 30, 2024 (CLICK HERE), to amend the price per Unit and intention to complete a private placement for proceeds of up to $250,000 (the “Private Placement”). The Private Placement will now consist of the sale of up to 5,000,000 units (each a “Unit”) at a price of $0.05 per Unit. Each Unit will be 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. In consideration for their services in introducing subscribers to the Company under 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 $0.08 for a period of 24 months. The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital. All securities issued in the private placement will be 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 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) the Company will close the private placement for proceeds of up to $250,000; and (b) the Company will use the proceeds as described above. 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.