Tempus Resources Ltd. advised the successful completion of the acquisition of the Prescott copper & base metals project in Nunavut, Canada. Exploration activities have commenced with a large geophysical survey already underway. On completion of the survey, the preliminary data will be utilised to guide a geochemical mapping program scheduled for early-August this year.

The Prescott Project consists of 49 licences covering 607 km2 that are predominantly located on Prince of Wales and Somerset Island and are interpreted to host an anticlinal repetition of the same geological formation hosting American West Metals Limited's Storm Copper Project. The Storm Copper Project is 100km east of the Prescott Project and hosts an Indicated & Inferred resource of 17.5 Mt @ 1.2% Cu and 3.4g/t Ag for 205kt of contained copper3. The Prescott Project also includes a significant land package which is directly along strike from the Storm Copper Project, these licences total 130 km2.

EXPLORATION OVERVIEW: Exploration at the Prescott Project will be principally targeting Sediment Hosted copper deposits, as well as Mississippi Valley-type (Zn-Pb) deposits. Sediment-hosted copper deposits are a globally significant source of copper, forming one of the two main types of copper deposits, the other being porphyry copper deposits. These types of systems present significant opportunity for a material mineral discovery.

The maiden geophysical campaign at the Prescott Base Metals Project commenced on the 31 May 2024, and consists of both an Airborne Gravity Gradiometry (AGG) and Magnetic survey across the entire project area utilising a fixed-wing aircraft. AGG serves to provide a higher resolution than traditional gravity surveys and will be processed into a detailed 3D inversion to identify density anomalies. Gravity is the preferred geophysical exploration method for this style of mineralisation and has a proven track record in the Resolute region.

A previous gravity survey inversion served to positively identify copper mineralisation associated with the Storm deposit, and a gravity survey was also used to discover the Polaris Zn-Pb mine. AGG surveys offer advantages over electromagnetic (EM) surveys, as they are cheaper, quicker, and capable of detecting non- conductive ore minerals. The survey is underway and is expected to take 45 days to complete, with processing and interpretation thereafter.

On completion of the survey, the preliminary data will be utilised to guide the geochemical mapping program scheduled for early-August this year, with all data then being sent for post-processing and 3D inversion. Planning activities are underway for a two-week geochemical and mapping program in early August leveraging off the preliminary geophysical data. Importantly all environmental and land access permits have now been received, including: Approval of the project proposal from the Nunavut Planning Commission (no assessment required); Approval of the land access permit from the Qikiqtani Inuit Association; and Approval of the water use and disposal permit (no assessment required).

MINERALISATION MODEL: The geology of the Prescott Project area is interpreted to contain these essential elements required to host either a sedimentary-hosted copper deposit or a Mississippi Valley-type (Zn-Pb) deposit, due to its geological similarities in terms of host rocks and structural architecture to the opposite side of the anticline, where the Storm and Seal deposits are located Planned exploration activities across the Prescott Project area will be principally targeting sedimentary-hosted copper, similar to Eastern Europe's Kupferschiefer deposits and Central Africa's Copperbelt deposits like Kipushi in Zambia and the DRC. Typically, sedimentary-hosted copper deposits form when oxidised copper-bearing brines are mobilised along permeable lithologies or faults, and then encounter a reducing environment such as carbonaceous shales or carbonates. This interaction causes the copper-bearing fluids to precipitate copper sulphides.

During the Ellesmerian Orogeny, north-south compression forced meteoric water through the Aston Formation's red beds, scavenging copper. These oxidised, copper-rich fluids are then interpreted to have moved southward through permeable lithologies, rising to the surface via secondary normal and strike-slip faults, and reactivated thrust faults. These fluids then encountered the porous carbonate units of the Allen Bay Formation, where the presence of the overlying impermeable Cape Storm Formation helped focus these oxidised copper-rich fluids to be reduced within fractures and porous zones of the Allen Bay formation.

This process led to the formation of high-grade fracture fill and lower-grade replacement style copper mineralisation, as observed in the Storm Deposit. This geological model will be employed across the Project area to guide future targeting of other prospective locations which exhibit similar structural and lithological characteristics. EXPLORATION & TARGETING Proposed targeting and exploration will include airborne geophysical methods and ground-based mapping and sampling.

Initially, efforts have included an extensive data compilation and a literature review to understand the controls on mineralisation in the region and to evaluate previous exploratory work. This research has subsequently identified unexplored sections of the Allen Bay formation with structural characteristics similar to those found at the Storm Deposit, as well as more widespread instances of Aston Formation red beds. The maiden exploration campaign is employing an Airborne Gravity Gradiometry (AGG) survey across the entire project area using a fixed-wing aircraft.

AGG provides a higher resolution than traditional gravity surveys and can be processed into a detailed 3D inversion to identify density anomalies. A previous AGG survey served to positively identify copper mineralisation associated with the Storm deposit, and a gravity survey was also used to discover the Polaris Zn-Pb mine. AGG surveys offer advantages over electromagnetic (EM) surveys, as namely they are cheaper, quicker, and capable of detecting non-conductive ore minerals.

Initial anomalies identified from the AGG survey, combined with remote sensing data, will guide follow-up ground mapping activities planned for later in the 2024 season. Detailed geological mapping will be undertaken based out of helicopters, and rock chip samples will be collected. Later, a comprehensive 3D inversion of the AGG data, integrated with remote sensing data and rock chip sample results, will all be utilised to rank potential drill targets for successive drill campaigns.