NINE MILE METALS ANNOUNCES DRILL HOLE WD-24-04 CERTIFIED ASSAY RESULTS OF 1.33% COPPER EQUIVALENT (CU-EQ) OVER 37.10M INCLUDING 3.08% CU-EQ OVER 10.24M

VANCOUVER, B.C. Wednesday, April 24th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce it has received certified assays for drill hole WD-24-04 at the Wedge VMS Drill Target situated in the renowned Bathurst Mining Camp, New Brunswick (BMC).

WD-24-04 HIGHLIGHTS:

  • Drill hole WD-24-04 Location: Collared on the northeastern flank of the Wedge deposit, positioned approximately 40 meters east of drill hole WD-24-02.
  • Orientation and Depth: Drilled at a 160-degree azimuth and a dip of -50 degrees, reaching a total depth of 167m
  • The drill hole successfully intersected three (3) Zones of visual sulphide mineralization at depths of:
    • Zone 1: (55.00 – 78.00m)       Zone 2:  (110.00 – 132.20m)   Zone 3: (136.00 – 147.10m).
    • Note: the lower two zones define the main copper mineralization.
  • The main copper zone intersected a 37.10 meter section (110.00 – 147.10 m), assaying 0.81% Cu, 0.25% Pb, 1.00% Zn, 8.5 g/t Ag and 0.13 g/t Au (Copper Equivalent: 1.33% Cu).
  • Sub-zones within this section demonstrated higher yields, including:
    • 10.24 metersof pyritic VMS (Volcanogenic Massive Sulfide) assaying 1.57% Cu, 0.74% Pb, 2.99% Zn, 26.61 g/t Ag, and 0.31 g/t Au (Cu Equivalent: 3.08%). 
    • 7.52 meters of pyritic VMS assaying 1.86% Cu, 1.00% Pb, 1.17% Zn, 35.50 g/t Ag, and 0.42 g/t Au (Copper Equivalent: 3.07%).
  • Notable gold and silver mineralization are present alongside the lead and zinc within the VMS deposits.

Table 1: Drill Hole Summary, WD-24-04

WD -24-04 From To Width (m) Cu % Pb % Zn % Au g/t Ag g/t Cu Eq %
 
Zone 1 55.00 78.00 23.00 0.17 0.00 0.05 0.02 0.05 0.20
 
Zone 2 110.00 130.20 20.20 0.69 1.91 0.32 0.08 1.91 1.29
Includes 115.00 127.26 12.26 0.83 0.10 0.37 0.09 2.16 1.05
 
Zone 3 136.86 147.10 10.24 1.57 0.74 2.99 0.31 26.61 3.08
Includes 139.58 147.10 7.52 1.86 1.00 1.17 0.42 35.50 3.07
                   
Summary          
Main Zone (2 & 3) 110.00 147.10 37.10 0.81 0.25 1.00 0.13 8.5 1.33

Copper Equivalent (Cu Eq) for drill intersections is calculated based on April 23, 2024, pricing. US$ 4.42/ lb. Cu, US$ 0.99 / lb. Pb., S$ 1.27 lb. Zn, $ 27.98 /oz Ag and US$ 2,334/oz Au with 80% metallurgical recoveries assumed for all metals (Since it’s unclear what metals will be the principal products, assuming different recoveries is premature at this stage. As such, an 80% recovery rate is justified at this point in time).

 

In the northeastern section of the Wedge, the geology comprises a blend of volcanic materials and sedimentary deposits. The mineralization is primarily located at the contact point between the felsic volcanic rocks and the underlying graphitic argillite, similar to what was observed in DDH-24-02 to the west. The most significant lead and zinc mineralization has been consistently found at the base of the geological section, adjacent to the graphitic sediment layer.

 

Table 2: Zone 2 – Certified Assays (110.00 – 130.20 m) – 20.20m Intersection

Sample # From (m) To (686m) Width (m) Cu (%) Pb (%) Zn (%) (Pb + Zn) (%) Ag (g/t) Au (g/t)
 
686009 110.00 111.00 1.00 0.34 0.09 0.18 0.27 2 0.049
686011 112.00 112.00 1.00 0.73 0.04 0.54 0.58 1 0.036
686012 112.00 113.00 1.00 0.55 0.02 0.30 0.32 1 0.036
686013 113.00 114.00 1.00 0.55 0.05 0.24 0.29 1 0.022
686014 114.00 115.00 1.00 0.62 0.01 0.38 0.39 1 0.045
686015 115.00 116.00 1.00 1.29 0.03 1.36 1.39 1 0.084
686016 116.00 116.60 0.60 0.15 0.00 0.30 0.30 <1 0.018
686017 116.60 117.45 0.85 0.90 0.02 0.84 0.86 1 0.05
686018 117.45 118.45 1.00 0.96 0.01 0.57 0.58 1 0.042
686019 118.45 119.45 1.00 1.98 0.03 0.85 0.88 3 0.107
686020 119.45 120.45 1.00 0.27 0.02 0.05 0.07 1 0.034
686021 120.45 121.45 1.00 0.48 0.02 0.13 0.15 2 0.063
686022 121.45 122.45 1.00 0.40 0.18 0.13 0.31 3 0.061
686023 122.45 123.45 1.00 0.43 0.36 0.10 0.46 4 0.279
686024 123.45 124.46 1.01 0.49 0.13 0.09 0.22 3 0.084
686025 124.46 125.33 0.87 1.33 0.11 0.09 0.20 3 0.119
686026 125.33 126.33 1.00 0.44 0.09 0.15 0.24 1 0.1
686027 126.33 127.26 0.93 1.57 0.10 0.13 0.23 4 0.144
686028 127.26 128.26 1.00 0.62 0.05 0.03 0.08 3 0.224
686029 128.26 129.00 0.74 0.09 0.01 0.07 0.08 3 0.046
686031 129.00 130.20 1.20 0.17 0.06 0.19 0.25 2 0.143
                   
Total Ave. 20.2 0.69 0.07 0.32 0.39 1.91 0.08

 

“Drill Hole WD-24-04 was collared in the northeastern portion of the Wedge 40 meters east of drill hole WD-24-02.  Drilled parallel to WD-24-02, the results show the continuity of the mineralization with three (3) Zones of high copper mineralization intersected, the base of the main zone again highlighted by lead, zinc, and silver mineralization. The mineralization consists of fine-grained massive copper bearing pyritic VMS (95% + sulphides) with visible bands of sphalerite and galena as seen in drill hole WD-24-02. The continuity is encouraging, and we look forward to compiling all of the assays and incorporating them into our upcoming 3D model,” commented Gary Lohman, P.Geo., VP Exploration & Director.

 

Patrick J. Cruickshank, MBA, CEO & Director, stated, “The results from our Wedge extension program in Target Area 1, located on the east side of the deposit, have been very encouraging. We are successfully expanding the footprint of the unmined deposit area at the Wedge. The copper assays have been consistently impressive, and the significant widths observed in the drill holes thus far are outstanding. We are determined to fulfill our objectives by increasing the tonnage at the Wedge.”

 

Table 3: Zone 3 – Certified Assays (136.86 – 147.10 m) – 10.24m Intersection

Sample # From (m) To

(m)

Width (m) Cu % Pb (%) Zn (%) (Pb + Zn) % Ag (g/t) Au (g/t)
 
686039 136.86 137.86 1.00 1.86 0.03 0.19 0.22 4 0.029
686040 137.86 138.75 0.89 0.12 0.01 0.11 0.12 1 0.016
686041 138.75 139.58 0.83 0.13 0.03 0.13 0.16 1 0.034
686042 139.58 140.58 1.00 1.60 0.33 0.79 1.12 10 0.146
686043 140.58 141.58 1.00 4.23 0.11 0.51 0.62 13 0.094
686044 141.58 142.58 1.00 3.63 0.03 0.18 0.21 11 0.563
686045 142.58 143.58 1.00 0.98 0.51 3.23 3.74 22 0.298
686046 143.58 144.58 1.00 1.60 0.17 1.91 2.08 19 0.540
686047 144.58 145.68 1.10 0.70 0.21 2.00 2.21 14 0.136
686048 145.68 146.30 0.62 1.09 2.12 18.25 20.37 51 0.784
686049 146.30 147.10 0.80 0.64 6.05 12.60 18.65 181 1.08
Total Ave. 10.24 1.57 0.74 2.99 3.73 26.61 0.31

 


Figure 1: Sample #686046 (Zone 2) – Sphalerite & Chalcopyrite Bands, (1.6% Cu, 2.08% Pb-Zn, 19 g/t Ag, .54 g/t Au)

 


Figure 2: Sample #686048 (Zone 2) – Sphalerite Bands within VMS, (1.09% Cu, 20.37% Pb-Zn, 51 g/t Ag, .78 g/t Au)


Figure 3:   Plan View, Drill Hole Collars & Surface Projection (Drill Holes Reported to Date)

 

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 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.

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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) we will announce complete Certified assay results once received from ALS, (b) this system once again has high combined (Pb–Zn) XRF assay results and is expected to continue throughout this area, (c) we expect the Ag & Au values from the Certified Assay results currently being processed at ALS Global Canada Laboratories to deliver high Silver & Gold values, (d) both drill holes demonstrate that the mineralized zone is open in both directions along strike and depth, and (e) the team is looking forward to modeling the geology and assays prior to initiating the 2023 program. . 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.

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