Nine Mile Metals Ltd. provided an update on the drill program at its flagship Nine Mile Brook VMS Project in the world famous, Bathurst Mining Camp in New Brunswick. Following data analysis and interpretation by EarthEX Geophysical Solutions Inc. (“EarthEX”) of a 21-line kilometer Induced Polarization (I.P.) survey conducted over the Lens, Islands and Hinge A target areas, a total of eighteen (18) high priority drill holes have been proposed to intersect a variety of high chargeable, conductive, resistive, and magnetic anomalies. This was the direct result of the orientation grid conducted last October that compared IP vs EM designed surveys.

The surprising result was that the IP Chargeability of our Willett Lens drill core yielded an extremely high signature that challenged the EM conductivity response. Prior to drilling, EarthEX recommended we conduct a 21-line km IP survey for target definition. This was chosen to identify the copper-gold component of additional Lens' and the source deposits.

The Lantech drill team commenced the drill program on December 4, 2022, completing (3) Lens Area target holes (T03-B, T04-A and Lens Hole NM2208) totaling 521m. The initial drill hole T03-A, (Figure 1) was collared approximately 70 meters northwest of the lens and drilled due east at a dip of – 60 degrees to 229 meters to test an I.P. chargeability target at approximately 200 meters. The drill hole intersected a variety of sheared and faulted sediments with local, disseminated sulphides.

Drill hole T04-A was collared approximately 150 to the north of T03-A and drilled due east at a dip of – 60 degrees to a depth of 262 meters again, targeting an I.P. response at approximately 225 meters along the same north /south trending chargeable horizon. A 25-meter section of siliceous, pyritic breccia /rhyolite including massive sulphides, was intersected in the upper portion of the drill hole in addition to graphitic sediments. The sulfides varied between both disseminations and stringers, confirming the presence of the system associated with the lens mineralization.

The drill holes confirm a coherent conductive trend suggesting the mineralization at the lens has undergone minimal transport and is from a more local source. During the holiday break, the Technical Team had the advantage to analyse and interpret the initial holes drill program data, geology and samples. The drill logs and sampling data were forwarded to EarthEX for integration into the live 3D model (Figure 3).

Following analysis by the Technical Team including EarthEX, the resulting analysis produced additional target holes, including T09-A (Figure 2) and a deeper 500m hole in the original Lens area. Once drilling in the “Hinge A” area is concluded, we will return to the original Lens Area, on our way to “The Islands”, and newly defined, priority targets along the California Lake Group contact zone. Located approximately 1 kilometer northwest of the Lens, this is a separate VMS system, the rocks host to 11 VMS deposits /occurrences in the BMC including the Caribou Mine.

Drill Hole NM2208 Lens, (Figure 1) was collared on the north edge of the outcrop that hosts the VMS bearing lens that was drilled last Spring. The hole was drilled to the south at a dip of – 50 degrees for 30 meters, intersecting a section of the lens target including pyritized rhyolite and VMS mineralization. Due to environmental concerns including snow runoff and potential water contamination, this hole was not accessible in the Spring.

Necessary to quantify the Lens dimensions for RPC and the bulk sample project, this very short hole was completed prior to the holiday break, the collar established on solid, frozen ground. This information & samples have been forwarded to RPC for the ongoing metallurgical bulk sample analysis. We look forward to confirming the Willett Lens body dimensions and bulk tonnage.

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., P. Geo. VP Exploration who acts as the Company's Qualified Person and is not independent of the Company.