New Results at Achilles: Next Steps for Expansion

Key Concepts

• Oxide Holes: Mineralized zones within the oxide portion of a deposit.
• Gold Grade: The concentration of gold within a mineralized zone, typically expressed in grams per tonne (g/t).
• Deposit Depth: The vertical extent of a mineralized body.
• Near Surface Mineralization: Ore bodies that are close to the ground surface, often making them easier and more economical to extract.
• High-Grade Load: A particularly rich and continuous zone of mineralization.
• Drilling: The process of extracting core samples from the earth to assess the presence and extent of mineralization.
• Results Pending: Drill hole assay results that have not yet been received or analyzed.

New Oxide Hole Results and Deposit Expansion

The latest drilling results provide significant support for previously announced "oxide holes," specifically reporting 5 meters at 19 grams of gold per tonne (g/t). These new findings stem from drilling a "fan" underneath those initial oxide holes, effectively bolstering the prior discoveries.

Near-Surface Mineralization Potential

There is now "good data" indicating mineralization in the upper area of the deposit, which extends "almost comes right to surface." The company aims to further investigate this near-surface potential, with the next drilling phase targeting a depth of 3 meters, rather than the previously drilled 30 meters. This suggests an expectation that the deposit remains "open to the top" and accessible near the surface, which is considered an "exciting" prospect.

Tracking and Extending High-Grade Zones

The main "high-grade load" has now been successfully traced from surface down to a depth of 200 meters. A recent drilling program involved 12 drill holes specifically targeting the area below this established high-grade zone. The objective of this drilling was to extend the known mineralization to a depth of approximately 300 meters. Results from these 12 drill holes are "pending" and are anticipated to be released "very soon," indicating that "super exciting news" is expected.

Synthesis/Conclusion

The recent drilling campaign has significantly enhanced the understanding and potential of the deposit. New results confirm and strengthen previous high-grade oxide discoveries. Crucially, the exploration efforts are now focused on proving the extent of near-surface mineralization and extending the known high-grade zone from 200 meters to approximately 300 meters in depth. The pending results from the 12 recent drill holes are highly anticipated and are expected to provide further positive developments regarding the deposit's size and grade.