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October 11, 2023 at 4:27 p.m

8255, boul Henri-Bourassa bur. 230 Quebec, Qc, G1G 4C8 T: 418-626-6333

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Stelmine defines six new targets over 29 kilometers within the Mercator venture

Quebec, October 11, 2023 – Stelmine Canada (“Stelmine” or “the Firm”) (TSXV: STH). The outcomes of the newest until geochemical survey performed on the Mercator Venture (100% STH) allowed the definition of six new targets situated primarily west of the T-Rex Zone, but additionally the affirmation of two gold exploration targets on T -Rex .This geochemical survey focused extensions of identified mineralized zones which have already been eroded and sampled. The outcomes present a sequence of anomalies that now prolong roughly twenty-nine (29) km because the crow flies, together with fifteen (15) km

  • west and southwest of the T-Rex goal.

Highlights embrace:

  • Eight zones (together with six new) are characterised by Au and/or As and Cu anomalies
    1327 until samples (wonderful fraction) taken primarily west and north of the meridian zone;
  • Affirmation that present exploration methodology, together with airborne and floor geophysics, and until and rock geochemistry, works nicely past the meridional zone;
  • Affirmation that these anomalies are situated close to extra mafic (iron-rich) stratigraphic models favorable for gold mineralization (Figures 1 and a pair of), just like these uncovered within the Meridian Zone that yielded vital gold values ​​and intercepts (CP from August eighth). , 2023);
  • Geochemical affirmation of the eight kilometers of favorable stratigraphy between the Meridian and Baleine zones, already outlined by geophysics (CP dated September 20, 2023).

The six new until anomalies are comparable in amplitude and continuity to these identified from the Meridian Gold Zone. The significance of the latter was underlined by the constructive outcomes of the surveys in 2022.

Cowardly. 1: Determine exhibiting the distribution of until samples with ends in Au (ppb) and a picture of the 2Au+2AS+Cu mannequin. Notice the affiliation of outlined anomalies (ellipses) with iron-rich models and the distribution of the anomalies over a linear distance of roughly twenty-nine kilometers.

Cowardly. 2: Detailed view of the Meridian T-Rex sector and westward extensions. Considering the completely different sampling meshes between sectors (Meridian and T-Rex are narrower), the responses to the brand new sectors are akin to these of the T-Rex and Meridian sectors, the latter having identified gold deposits with mineralization.

To see the presentation of figures and PPT, click on right here

Formation of glacial sediments

The until sampled on Mercator is a sediment that was shaped by glacial erosion 1000’s of years in the past. As a glacier advances, any uncovered mineralization is crushed, transported, and finally deposited downstream as glacial sediment. Subsoil is a combination of sediments which are typically transported over a restricted distance and aren’t a degree supply. The until is subsequently attribute of a sampling space that’s bigger than a single outcrop, permitting the sampling grid to be enlarged. The presence of anomalies signifies a close-by glacial supply upstream; Nonetheless, the absence of an anomaly doesn’t enable the conclusion that there isn’t a mineralized supply, since it’s sufficient that it’s at depth and subsequently not topic to glacial erosion.

High quality assurance/high quality management

Stelmine has applied a strict QA/QC protocol for dealing with samples collected from the Mercator property. Burst samples of roughly 1 kilogram are typically collected from the C horizon at a depth of between 50 and 130 cm utilizing a clear shovel or hand drill. The coarsest items of rock (greater than sixteen millimeters) and natural supplies corresponding to roots are eliminated. The pattern materials is positioned in a numbered disposable plastic bag and sealed with a plastic clip. For every pattern collected, the pattern quantity, acquired UTM coordinates (utilizing a handheld GPS), and a short description of the pattern are reported by the geologist on an digital pill. The sacks are then transported to the bottom camp, dried there for at the least 48 hours after which transferred into rice sacks. They’re saved safely at base camp earlier than being transported by seaplane to the Wabush base after which by vehicles from dependable transport firms to the Actlabs laboratory in Ancaster, Ontario. The concentrations of Au and different components had been decided utilizing the INAA+ICP_OES strategies (Code 1H).

Certified particular person

The technical info contained on this press launch was ready by Friedrich Speidel P. Géo, M.Sc. and Vice President of the corporate reviewed and authorised. Mr. Speidel is the certified particular person accountable for the scientific and technical info contained on this doc in accordance with the requirements of Nationwide Instrument 43-101.

ABOUT STELMINE

Stelmine is a younger mining exploration firm engaged within the improvement of a brand new Caniapiscau gold district (east of James Bay) within the under-explored japanese a part of the Opinaca metasedimentary basin, the place the context has geological similarities to the Éléonore mine, situated very shut at contact with the identical pelvis. Stelmine owns 100% of the 1,784 claims or 917 km² on this a part of Northern Quebec, most notably the Mercator and Courcy tasks.

FORWARD-LOOKING INFORMATION

Cautionary Assertion Concerning Ahead-Trying Statements: This press launch comprises forward-looking statements that mirror the Firm’s present expectations concerning future occasions associated to outcomes. To the extent that statements on this doc include info that isn’t historic in nature, such statements are primarily forward-looking and may usually be recognized by way of phrases corresponding to “believes,” “anticipates,” “predicts” or “estimates.” », “expects,” “tasks,” “plans,” “potential,” “suggests” and “believes.” Ahead-looking statements are topic to dangers, uncertainties and different components that might trigger precise outcomes to vary materially from these expressed in such forward-looking statements Statements could differ from outcomes expressed or implied. These dangers and uncertainties are described within the quarterly and annual stories and securities submitting paperwork out there on the Sedar+ web site. Though the Firm believes that the forward-looking statements are primarily based on them Assumptions are cheap, undue reliance shouldn’t be positioned on them. These statements converse solely as of the date hereof. The Firm disclaims any intention or obligation to replace or revise these forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as required by relevant securities legal guidelines.

CAUTION

Neither the TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.

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Isabelle Proulx,

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Stelmine Canada Ltd. revealed this content material on October 11, 2023 and is solely accountable for the knowledge contained therein. Distributed by the general public, unedited and unaltered, on October 11, 2023 2:26:21 PM UTC.

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Stelmine Canada Ltd. is a younger mineral exploration firm primarily based in Canada. The Firm’s actions embrace the acquisition, exploration, manufacturing, improvement and operation of mineral properties. Its properties embrace the Courcy Property, the Mercator Property, the Joubert Property, the Trieste Property and the Ilnu Property. The Courcy property contains a complete of 163 claims overlaying 85 sq. kilometers (km2) and is situated lower than 100 kilometers (km) west of Fermont, Quebec. The Mercator property is situated 76 km northeast of the Courcy property. The property consists of a bunch of 1095 claims with a complete space of ​​561 km2. The Joubert property consists of 103 claims and covers an space of ​​55 km2. It’s situated 55 km northeast of the Renard diamond mine and is accessible by way of Route 167, on the japanese contact of the Opinaca and La Grande sub-provinces. The Trieste property consists of 14 claims with an space of ​​30 km2. The Ilnu property is 70 km from the Courcy property.

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Selection. Jan 1st

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