AI assistant
FIN RESOURCES LIMITED — Capital/Financing Update 2026
Apr 14, 2026
64920_rns_2026-04-14_3ec4f58e-e31d-4cdf-b3c3-26697d8ce4c9.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Release 15 April 2026 ASX: FIN
MASSIVE SULPHIDE MINERALISATION CONFIRMED AT ARROW PROSPECT, CABIN LAKE
Highlights
-
Three diamond drillholes completed at the Arrow Prospect (CL-26-01 to CL-26-03), all confirming the Company’s geological model, with approximately 114 metres of cumulative sulphide mineralisation intersected based on geological logging [1]
-
CL-26-01: Broad zone (~38 m) of sulphide mineralisation intersected within banded iron formation – assays expected in 2 weeks
-
CL-26-02: Sulphide-bearing banded iron formation intersected over ~13 m at anticipated depths including zones of locally massive sulphide mineralisation
-
CL-26-03: Broad zone (~63 m) of sulphide mineralisation intersected, including disseminated sulphides transitioning to strong sulphide veining at depth
-
-
CL-26-004 completed at Beaver Prospect, with drilling ongoing in CL-26-005.
-
Drilling confirms sulphide mineralisation at anticipated depths with characteristics consistent with previously reported high-grade zones, supporting continuity of the mineralised system
-
Ground magnetic survey 27 of 40 line km completed
-
Downhole IP surveys completed on four drillholes (CL-26-01 to CL-26-04)
-
Surface IP survey commenced to extend 2021 dataset
-
Integrated geophysics and drilling program to support interpretation of the mineralised system and ongoing drilling
-
Established high-grade gold system [2] , including:
-
31.4m @ 15.2 g/t Au from 17.5m (CL-20-08)
-
13.6m @ 7.3 g/t Au from 41.2m (CL-20-03)
-
-
Additional anomalous gold mineralisation confirmed across multiple prospects
-
1 Cautionary Note: Drillhole CL-26-001 previously reported in the Company’s ASX release dated 27 March 2026. Visual estimates of sulphide mineralisation are based on geological logging and are approximate only. These observations are qualitative and are not a substitute for laboratory assay results. No quantitative estimate of gold grade can be determined from visual observations.
-
2 Refer to ASX release dated 4 February 2026.
FIN Chairman, Bruce McFadzean, commented:
“This drilling program marks a significant step forward for Cabin Lake, with early results confirming the continuity of sulphide mineralisation and strongly supporting the Company’s geological model.
We are consistently intersecting sulphide-bearing BIF at anticipated depths, with visual sulphide mineralisation consistent with previously reported high-grade zones. The presence of broad sulphide intervals, together with zones of more intense mineralisation, highlights the scale and robustness of the system.
With multiple holes completed and further drilling underway, and geophysics now being integrated with drilling, we are rapidly building a clearer picture of what is emerging as a continuous and potentially extensive mineralised corridor.”
FIN Resources Limited (ASX: FIN) (“FIN” or “the Company”) is pleased to provide an update on its ongoing exploration program at the Cabin Lake Gold Project in the Northwest Territories, Canada.
Drilling at the Cabin Lake Gold Project has progressed through the Arrow Prospect, with three diamond drillholes (CL-2601 to CL-26-03) completed, confirming mineralised banded iron formation at anticipated depths with consistent sulphide characteristics. A fourth hole (CL-26-004) has now been drilled at the Beaver Prospect, marking the commencement of drilling in this area. In parallel, the Company has commenced a targeted geophysics program, including ground magnetics, downhole induced polarisation (IP) and surface IP surveys, with these datasets being integrated with drilling to support interpretation of the mineralised system and assess continuity along strike and at depth.
[email protected] www.finresources.com.au
==> picture [594 x 55] intentionally omitted <==
DRILLING UPDATE - ARROW PROSPECT
Drilling at the Arrow Prospect (CL-26-01 to CL-26-03) has confirmed a well-developed sulphide-bearing BIF system over significant widths, with approximately 114 metres of cumulative sulphide mineralisation intersected across the three holes.
CL-26-001 intersected a broad zone of sulphide mineralisation from ~14.5 m to 52.9 m within strongly silicified BIF. CL26-002 intersected sulphide-bearing BIF from ~12.7 m to 25.3 m, confirming mineralisation at consistent depths and with similar characteristics. CL-26-003 has returned the most extensive mineralisation, with disseminated sulphides from ~6 m to 46.5 m, transitioning into a continuous zone of strong sulphide veining from ~46.5 m to 69 m.
Sulphide mineralisation is dominated by pyrite with minor pyrrhotite and is hosted within structurally deformed and sulphidised BIF, with veining and sulphide intensity increasing at depth. The consistency of mineralisation across all three holes, together with the development of strong veining in CL-26-003, highlights the scale, continuity and structural control of the system, supporting the interpretation of a potentially extensive mineralised corridor.
Following these results, the drilling program is being refined to focus on priority zones, with a more targeted scope designed to maximise geological understanding ahead of a broader, geophysics-informed summer campaign.
Structural logging is ongoing to refine true widths and orientation of mineralisation.
The drill rig has completed CL-26-004 at the Beaver Prospect, representing the first hole outside Arrow in the current program, with geological logging in progress. Drilling is continuing with CL-26-005, with the program expected to progress to the Andrew South Prospect.
Initial observations from drilling at Beaver are considered encouraging, with sulphide mineralisation observed early in the drilling process. Further logging and interpretation are ongoing.
==> picture [337 x 228] intentionally omitted <==
==> picture [342 x 113] intentionally omitted <==
Figure 1. Mineralised core from drillhole CL-26-002 (12.87m-20.32m)
ASX | FIN
Page | 2
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
Table 1. Visual Estimation[1] of Sulphides for Figure 1.
Visual estimates of sulphide mineralisation from logging of drillholes CL-26-001 to CL-26-003 are summarised below.
| From | To | Pyrite | Pyrrhotite |
||
|---|---|---|---|---|---|
| Hole ID | (m) | (m) | % | % | Description |
| CL-26-001 | 14.55 | 52.92 | Up to | Up to 20 |
Broad zone of sulphide mineralisation within BIF, consistent with |
| 30 | geological model¹ | ||||
| CL-26-002 | 12.87 | 20.32 | ~5-20 | ~2-8 |
Disseminated to blebby and locally massive sulphides within BIF |
| 20.32 | 25.3 | ~2-5 | <1 | Disseminated sulphides | |
| CL-26-003 | 6 | 46.54 | ~1-3 | Trace | Broad disseminated sulphide zone within BIF, consistent with |
| geological model | |||||
| 46.54 | 69 | 15-20 | 15-20 |
Strong sulphide veining associated with fractures and bedding |
1 Cautionary Note: Drillhole CL-26-001 previously reported in the Company’s ASX release dated 27 March 2026. Visual estimates of sulphide mineralisation are based on geological logging and are approximate only. These observations are qualitative and are not a substitute for laboratory assay results. No quantitative estimate of gold grade can be determined from visual observations.
Ground Magnetics Survey
The Company has completed approximately 27 line kilometres of detailed ground magnetic survey across the Andrew mineralisation corridor, with approximately 13 line kilometres remaining across the Arrow-Beaver-Camp corridor. Figure 2 illustrates the historical ground magnetic coverage and the current infill and extension survey areas.
==> picture [423 x 390] intentionally omitted <==
Figure 2 Cabin Lake Gold Project - Historical & Planned Ground Magnetics Survey areas
ASX | FIN
Page | 3
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
The survey is focused on mapping the geometry and continuity of the Bugow Iron Formation, which is the primary host to gold mineralisation at Cabin Lake, as well as identifying structural features that may control the distribution and thickness of mineralised zones.
Initial observations indicate that the BIF can be effectively traced along strike using magnetic data; however, variability in magnetic response is also being observed, which may reflect structural complexity and zones of variable alteration and sulphide development. This is particularly relevant in areas where drilling has intersected mineralisation, but the broader structural context remains uncertain.
The magnetic dataset will be integrated with drilling, downhole IP and surface IP results to improve geological interpretation and support ongoing drilling and interpretation of the mineralised system.
Downhole Induced Polarisation (IP)
Downhole IP surveys have been completed on four diamond drillholes (CL-26-01 to CL-26-04), with post-processing and inversion modelling currently underway.
At Cabin Lake, gold mineralisation is associated with sulphide assemblages (primarily pyrite and pyrrhotite) hosted within the Bugow Iron Formation. Variability in structural continuity and local core conditions can limit interpretation from drilling alone. Downhole IP is being used to extend interpretation beyond the immediate drillhole, providing a continuous geophysical response to assess whether sulphide mineralisation extends laterally and at depth. This is particularly relevant within structurally deformed BIF, where surface methods may be impacted by conductive overburden.
The results will be integrated with geological logging, ground magnetics and surface IP data to support interpretation of the mineralised system and ongoing drilling.
Surface IP Survey
A surface dipole-dipole IP survey has commenced, designed to extend and infill the 2021 IP dataset along the Bugow Iron Formation. The survey is focused on areas where historical chargeability anomalies have been identified but are not fully resolved by existing drilling. Several of these anomalies form continuous trends along strike, highlighting areas of limited drill coverage ( refer Figure 3 and Figure 4 ).
Drilling to date has been concentrated on discrete areas of the mineralised corridor and has not fully explained the extent or continuity of previously defined IP responses. The current survey is aimed at improving the definition and continuity of these anomalies along strike.
ASX | FIN
Page | 4
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
==> picture [306 x 282] intentionally omitted <==
Figure 3 Cabin Lake Gold Project - Historical & Planned Surface IP infill and extension survey areas
==> picture [316 x 291] intentionally omitted <==
Figure 4 Cabin Lake Gold Project - Historical Surface IP Survey image[1] with open ended anomalism, and planned surface infill and extension survey areas
- 1 Source: NI 43-101 Technical Report on the Cabin Gold Property for Rover Critical Minerals Corp (Sanabria, 2024). The report is not publicly available. The Company has not independently verified this data and it is used for qualitative exploration purposes only.
ASX | FIN
Page | 5
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
At Cabin Lake, sulphide mineralisation (pyrite and pyrrhotite) is expected to generate chargeability responses. The surface IP survey will therefore be used to map the distribution of sulphide-rich zones within the Bugow Iron Formation and support interpretation of sulphide distribution beyond current drilling.
The results will be integrated with drilling, downhole IP and magnetic datasets to support interpretation of the mineralised system and ongoing drilling.
Integrated Exploration Approach
The Company is undertaking a coordinated exploration program combining diamond drilling, ground magnetics, downhole IP and surface IP across the BIF.
This integrated approach is designed to support interpretation of the geometry, continuity and structural controls of sulphide mineralisation, particularly where drilling has tested discrete portions of the system. Geophysical datasets are being used to extend geological observations beyond drillholes and assess continuity of sulphide-bearing zones along strike and at depth.
This approach supports interpretation of the continuity and scale of the mineralised system across the ~15 kilometre corridor.
==> picture [348 x 402] intentionally omitted <==
Figure 5 - Cabin Lake Gold Project: Historical Drillhole Locations and Prior Sampling Results
ASX | FIN
Page | 6
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
Next Steps
-
Complete remaining 13 line kilometres of ground magnetic survey to extend coverage across the corridor
-
Receive and interpret downhole IP results to refine understanding of sulphide continuity at depth
-
Progress surface IP survey to define the extent of chargeability anomalies along strike
-
Integrate geophysical datasets with drilling observations to strengthen interpretation of the mineralised system
-
Continue diamond drilling at Beaver, Andrew and advance testing of additional prospective zones
-
Receive and report assay results as they become available
The current program is designed to maximise data acquisition during winter access conditions, particularly for drilling on lake-based targets. With strong visual sulphide mineralisation confirmed at Arrow and encouraging early indications at Beaver, the program is now transitioning to a broader phase of systematic testing.
Geophysical surveys will continue through the summer field season to extend coverage across the ~15 kilometre mineralised corridor, supporting ongoing drilling and advancing the Company’s understanding of what is emerging as a continuous and scalable mineralised system.
Authorised for release by the Board of FIN Resources Limited.
For further information contact:
Bruce McFadzean - [email protected]
Forward looking statements
Statements relating to the estimated or expected future production, operating results, cash flows and costs and financial condition of FIN Resources Limited’s planned work at the Company's projects and the expected results of such work are forward-looking statements. Forwardlooking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, forecasts, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.
These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfil projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties.
Competent Person’s Statement
The information in this report that relates to Exploration Results is based on information compiled by FIN and reviewed by Mr Gary Powell, who is a Member of the Australian Institute of Geoscientists. Mr Powell is a geological consultant to FIN Resources Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Powell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
JORC Compliance Statement
The information in this announcement that relates to previously reported Exploration Results is extracted from the Company’s ASX announcement dated 4 February 2025 titled “Cabin Lake Assays Upgraded Through Systematic Core Resampling” and is available on the Company’s website. The Company confirms that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
ASX | FIN
Page | 7
FIN RESOURCES LIMITED
==> picture [594 x 55] intentionally omitted <==
ABOUT FIN RESOURCES LIMITED
FIN Resources Limited owns a 100% interest in the Cabin Lake Gold Project in Canada’s Northwest Territories, a Tier-1 jurisdiction with a proven endowment of over 14 million ounces of historical gold production. The Cabin Lake Gold Project is located within the Archean Slave Craton and hosts gold mineralisation within sulphide-bearing banded iron formation (BIF) of the Bugow Iron Formation, associated with pyrite ± pyrrhotite ± minor arsenopyrite and interpreted to be structurally controlled.
Historical drilling and recent re-sampling by FIN, together with recent drilling at the Arrow Prospect, confirm mineralisation across multiple prospects including Arrow, Beaver and Andrew, supporting the Company’s geological model. Exploration is focused along a continuous ~15 kilometre strike extent of the Bugow Iron Formation, with the current program integrating drilling and geophysics to support interpretation of the mineralised system along strike and at depth.
The Project includes:
-
Near-surface, high-grade gold intercepts defining priority exploration zones, including 31.4 m @ 15.2 g/t Au from 17.5 m (CL-20-08)
-
Proven gold-hosting stratigraphy within the Bugow Iron Formation , analogous to the nearby 3.3 Moz Lupin Gold Mine (>10 g/t Au)
-
Significant exploration upside, with eight high-priority, fully permitted drill targets along a 15 km mineralised corridor
-
Located in a Tier-1 jurisdiction approximately 105 km northwest of Yellowknife
-
Established engagement with the Tłı̨chǫ Government , including access agreements and on-ground support
==> picture [377 x 378] intentionally omitted <==
Figure 6. Location of Cabin Lake Gold Project in the Northwest Territories.
ASX | FIN
Page | 8
FIN RESOURCES LIMITED
==> picture [840 x 55] intentionally omitted <==
APPENDIX A
Cabin Lake Gold Project - 2026 Drillhole Collar Locations
| Hole ID | East1 | **North1 ** | Depth2 | Azimuth3 | Dip 4 |
|---|---|---|---|---|---|
| CL-26-001 CL-26-002 CL-26-003 CL-26-004 |
559336 559340 559344 559054 |
7005365 7005360 7005405 7005768 |
56 58 68 77 |
310 251 251 229 |
-50 -45 -50 -51 |
N otes:
1. Coordinates are reported to datum NAD83 UTM 11N
2. Depth is reported in metres downhole from surface
3. Azimuth is reported in degrees relative to True North
4. Dip is reported in degrees as inclination from horizontal
5. All collar data is reported using Juniper Geode DGPS, with estimated sub-metre accuracy.
This data will be updated once the collars have been surveyed using RTK GPS and downhole orientation obtained from downhole surveys tools validated.
Table 2 Cabin Lake - Visual Sulphide Estimations – Arrow Prospect – Drillholes CL-26-002 and CL-26-003
| Hole ID | From | To (m) | Pyrite |
Pyrite Description | Pyrrhotite | Pyrrhotite Description | Description |
|---|---|---|---|---|---|---|---|
| (m) | % | % | |||||
| CL-26-002 | 12.66 |
12.87 | Tr | Disseminated | - | - | Trace pyrite |
| 12.87 | 13.78 | 15–20 | Disseminated to blebs/massive | ~5–8 | Disseminated to massive | Strong sulphide development | |
| 13.78 | 18.17 | ~5–10 | Disseminated to blebs | ~2–3 | Disseminated | Moderate sulphide intensity | |
| 18.17 | 20.32 | 15–20 | Disseminated to locally massive | ~5–8 | Disseminated to massive | Elevated sulphide intensity | |
| 20.32 | 24.19 | ~2–3 | Disseminated | <1 | Trace disseminated | Lower sulphide intensity | |
| 24.19 | 25.3 | ~5 | Disseminated to blebby | - | - | Moderate sulphide mineralisation | |
| 25.3 | 58 | Tr | Fine disseminations | - | - | Trace sulphides; metagreywacke host | |
| CL-26-003 | 6 |
33 | ~1–3 | Disseminated | Trace | Disseminated | Widespread fine disseminated pyrite within BIF |
| 33 | 46.54 | ~1–3 | Disseminated | Trace | Disseminated | Continued disseminated sulphide mineralisation | |
| 46.54 | 52 | 15–20 | Veins | 15–20 | Veins | Onset of strong sulphide veining | |
| 52 | 60 | 15–20 | Veins | 15–20 | Veins | Well-developed sulphide vein system | |
| 60 | 69 | 15–20 | Veins | 15–20 | Veins | Continued strong sulphide veining | |
| CL-26-004 | (Beaver) | Logging ongoing |
Cautionary Note: Visual estimates of sulphide mineralisation are based on geological logging and are approximate only. These observations are qualitative in nature and are not a substitute for laboratory assay results. No quantitative estimate of gold grade can be determined from visual observations.
ASX | FIN
Page | 10
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
APPENDIX B
JORC Code, 2012 Edition - Table 1 Report
Exploration Results (Geophysics and Historical Data), Cabin Lake Gold Project
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling | • Nature and quality of sampling (e.g. cut channels, random chips, | Sampling Techniques |
| techniques | or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of |
No new sampling or assay results are reported in this announcement. The information presented relates to ongoing geophysical surveys, drilling observations and previously reported exploration results. |
| sampling. | Historical diamond drilling has been undertaken at the Cabin Lake Gold Project by | |
| • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. |
multiple operators between 1946 and 2022. Drill core was logged and sampled using industry standard half-core techniques, with sample intervals typically selected based on lithology, alteration and sulphide mineralisation. Sample intervals generally ranged from approximately 0.30 m to 1.50 m and are considered appropriate for this style of |
|
| • Aspects of the determination of mineralisation that are Material to | mineralisation. | |
| the Public Report. | FIN Resources Ltd has reviewed and re-logged selected historical drill core and, where | |
| • In cases where ‘industry standard’ work has been done this would | appropriate, undertaken re-sampling using industry standard half-core and quarter-core | |
| be relatively simple (e.g. ‘reverse circulation drilling was used to | techniques. These results have been previously reported (refer ASX announcement | |
| obtain 1 m samples from which 3 kg was pulverised to produce a | dated 4 February 2025). | |
| 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. |
For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), HQ drill core has been orientated, geologically and geotechnically logged, photographed and documented. Drillhole CL-26-001 has previously been reported (refer ASX announcement dated 27 March 2026), with sampling completed and submitted for assay. |
|
| At the time of reporting, no samples from drillholes CL-26-002 to CL-26-004 have been | ||
| cut or submitted for assay. Sampling of these drillholes will be undertaken following | ||
| completion ofgeological loggingand transport of core to Yellowknife forprocessingand |
ASX | FIN
Page | 11
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| submission for analysis. | ||
| Visual identification of sulphide mineralisation (interpreted as predominantly pyrite | ||
| with minor pyrrhotite) has been recorded during logging. These observations are | ||
| qualitative in nature and are not a substitute for laboratory assay results. | ||
| Surface rock sampling undertaken historically by previous operators was selective and | ||
| targeted visibly mineralised outcrop. | ||
| Drilling | • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary | Drilling Techniques |
| techniques | air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
Historical diamond drilling at the Cabin Lake Gold Project has been undertaken by multiple operators between 1946 and 2022 using conventional and wireline diamond drilling methods. Core sizes have typically ranged from BQ to HQ, and drilling was generally not oriented in earlier programs. |
| Diamond drilling for the current 2026 program (including drillholes CL-26-01 to CL-26-04) | ||
| has been undertaken using a modern diamond drill rig employing industry standard | ||
| wireline techniques. Core size is HQ (nominal 63.5 mm diameter), and core orientation is | ||
| obtained using a core orientation tool. | ||
| Downhole survey data is collected using a north-seeking gyroscopic tool at regular | ||
| intervals to provide accurate hole orientation. | ||
| Drilling is designed to test the banded iron formation and associated sulphide | ||
| mineralisation at varying orientations to improve understanding of structural controls | ||
| and to assist in determining true widths of mineralisation. True widths of mineralisation | ||
| are not yet known. | ||
| Drill sample | • Method of recording and assessing core and chip sample | Drill Sample Recovery |
| recovery | recoveries and results assessed. | Historical drilling programs recorded core recovery as part of standard logging practices, |
| • Measures taken to maximise sample recovery and ensure | with more detailed recovery and RQD measurements available from the 2020-2022 | |
| representative nature of the samples. | drilling campaigns. Core recovery from these programs was generally reported as high, | |
| • Whether a relationship exists between sample recovery and grade | with no material issues identified that would impact data quality. | |
| and whether sample bias may have occurred due to preferential | For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), core | |
| recoveryis recorded on a run-by-run basis and isgood(typically>95%),with no |
ASX | FIN
Page | 12
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| loss/gain of fine/coarse material. | significant core loss observed. | |
| There is no known relationship between core recovery and mineralisation. Sulphide | ||
| mineralisation is observed within competent banded iron formation, and no sampling | ||
| bias related to core loss is considered likely. | ||
| Logging | • Whether core and chip samples have been geologically and | Logging |
| geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. |
Historical drill core from the Cabin Lake Gold Project has been logged using industry standard geological logging practices at the time. Logging included lithology, alteration and mineralisation, and was both qualitative and, where appropriate, semi-quantitative |
|
| • Whether logging is qualitative or quantitative in nature. Core (or | in nature. Core photography was undertaken in later programs (including 2020-2022). | |
| costean, channel, etc) photography. | For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), all drill | |
| • The total length and percentage of the relevant intersections | core has been orientated, geologically and geotechnically logged in full. Logging | |
| logged. | includes lithology, alteration, structure and sulphide mineralisation, and is both | |
| qualitative and semi-quantitative in nature. Core is photographed as part of standard | ||
| logging procedures. | ||
| Sub-sampling | • If core, whether cut or sawn and whether quarter, half or all core | Sub-sampling Techniques and Sample Preparation |
| techniques and sample preparation |
taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. |
Historical diamond drill core sampling at the Cabin Lake Gold Project was undertaken using industry standard methods at the time, with core intervals selected based on lithology, alteration and sulphide mineralisation. Core was typically cut longitudinally, |
| • For all sample types, the nature, quality and appropriateness of the sample preparation technique. |
with half-core samples collected for analysis. These techniques are considered appropriate for the style of mineralisation and representative of the material sampled. |
|
| • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. |
FIN Resources Ltd has re-sampled selected historical drill core using industry standard half-core and quarter-core sampling techniques, with samples submitted to independent laboratories for analysis (refer ASX announcement dated 4 February 2025). |
|
| • Measures taken to ensure that the sampling is representative of | For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), only | |
| the in situ material collected, including for instance results for field duplicate/second-half sampling. |
core from CL-26-01 has been cut, sampled and sent for analysis at the time of reporting. Sampling is ongoing following completion for each hole of geological and geotechnical |
|
| • Whether sample sizes are appropriate to the grain size of the | logging, with intervals selected based on lithology, alteration and sulphide | |
| material being sampled. | mineralisation. Core will be cut longitudinally along the core axis, maintaining the core | |
| orientation marks,usingindustrystandard methods,with half-core samples collected |
ASX | FIN
Page | 13
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| and submitted for analysis. | ||
| Standard QAQC procedures, including the insertion of blanks and standards into the | ||
| sampling regime, are being implemented as part of the sampling program, with | ||
| duplicate sampling undertaken on selected intervals at a later time. | ||
| Visual identification of sulphide mineralisation has been used to guide logging only and | ||
| does not represent a quantitative measure of gold grade. | ||
| Quality of assay | • The nature, quality and appropriateness of the assaying and | Quality of Assay Data and Laboratory Tests |
| data and | laboratory procedures used and whether the technique is | |
| laboratory tests | considered partial or total. | No assay results are reported for the current drilling program (including drillholes CL-26- |
| • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including |
01 to CL-26-04). Drillhole CL-26-01 has been sampled and submitted for laboratory analysis, with results pending. |
|
| instrument make and model, reading times, calibrations factors applied and their derivation, etc. |
Historical assay data has been generated by multiple operators using industry standard sample preparation and analytical techniques, including fire assay with AAS or ICP |
|
| • Nature of quality control procedures adopted (e.g. standards, | finishes. More recent programs (2020-2024) utilised accredited laboratories (including | |
| blanks, duplicates, external laboratory checks) and whether | ALS and AGAT), with standard QAQC procedures such as the insertion of blanks, | |
| acceptable levels of accuracy (i.e. lack of bias) and precision have | standards and duplicates. | |
| been established. | ||
| Future sampling by FIN Resources Ltd will be undertaken at accredited laboratories | ||
| using industry standard fire assay techniques for gold, with appropriate QAQC protocols | ||
| including blanks, standards and duplicates. | ||
| Visual identification of sulphide mineralisation does not provide any indication of gold | ||
| grade or distribution and is not a substitute for laboratory assay results. | ||
| No geophysical data has been used to estimate mineral resources. Historical geophysical | ||
| datasets referenced in this announcement have not been independently verified by the | ||
| Company and are used for qualitative geological targeting purposes only. | ||
| Geophysics and Remote Sensing | ||
| The Cabin Lake Gold Project has been subject to multiple historical geophysical surveys, | ||
| including ground magnetics,inducedpolarisation(IP),electromagnetic(EM),VLF-EM |
ASX | FIN
Page | 14
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| and airborne surveys. | ||
| Historical IP and magnetic datasets have defined anomalies associated with the Bugow | ||
| Iron Formation and areas of interpreted sulphide mineralisation, and form the basis for | ||
| current exploration targeting. | ||
| The current exploration program includes ground magnetic surveys, surface dipole- | ||
| dipole IP surveys and downhole IP surveys. These techniques are used to detect and | ||
| map variations in magnetic response and chargeability typically associated with sulphide | ||
| mineralisation. | ||
| Historical geophysical data referenced in this announcement, including that shown in | ||
| Figure 4, is derived from previous operators and has not been independently verified by | ||
| the Company. This data is considered appropriate for qualitative geological targeting | ||
| purposes only and should not be relied upon for resource estimation. | ||
| Geophysical data is used to support geological interpretation and drill targeting and has | ||
| not been used to estimate mineral resources. | ||
| Verification of | • The verification of significant intersections by either independent | Verification of Sampling and Assaying |
| sampling and assaying |
or alternative company personnel. • The use of twinned holes. |
No assay data is reported for the current drilling program (including drillholes CL-26-01 to CL-26-04), and therefore no verification of assay data has been undertaken at this |
| • Documentation of primary data, data entry procedures, data | stage. | |
| verification, data storage (physical and electronic) protocols. | Geological and geotechnical logging of drill core, including visual identification of | |
| • Discuss any adjustment to assay data. | sulphide mineralisation, has been completed by qualified and suitably experienced geologists and is subject to standard internal review procedures. |
|
| All primary geological data from the current program is recorded digitally and stored in | ||
| the Company’s database. | ||
| Location of data | • Accuracy and quality of surveys used to locate drill holes (collar | Location of Data Points |
| points | and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. |
Historical drillhole collar locations at the Cabin Lake Gold Project have been recorded using a combination of local grid systems and, in more recent programs, NAD83 UTM |
| • Specification of the grid system used. | Zone 11N coordinates. Where required, historical coordinates have been converted to a |
ASX | FIN
Page | 15
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| • Quality and adequacy of topographic control. | common NAD83 UTM Zone 11N grid and incorporated into the Company’s database. | |
| Collar locations from more recent drilling programs (2020-2024) were surveyed using | ||
| GPS methods with sub-metre to metre-level accuracy. Topographic control across the | ||
| project is supported by high-resolution digital elevation data derived from LiDAR | ||
| surveys. | ||
| For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), collar | ||
| locations have been recorded using handheld GPS (typically metre-level accuracy) and | ||
| Juniper Geode DGPS (typically sub-metre accuracy) and will be surveyed using RTK GPS | ||
| following completion of drilling to improve positional accuracy. | ||
| Historical downhole surveys were undertaken using a range of methods, including multi- | ||
| shot instruments, with variable reliability in azimuth due to magnetic interference | ||
| associated with magnetite and sulphide mineralisation. | ||
| Downhole surveys for the current program are being conducted using north-seeking | ||
| gyroscopic tools at regular intervals, providing accurate orientation data independent of | ||
| magnetic interference. | ||
| Data spacing and | • Data spacing for reporting of Exploration Results. |
Data Spacing and Distribution |
| distribution | • Whether the data spacing and distribution is sufficient to establish | Data spacing across the Cabin Lake Gold Project is variable, ranging from approximately |
| the degree of geological and grade continuity appropriate for the | 15 m in areas of known mineralisation (e.g. Arrow) to broader spacing of up to 200 m | |
| Mineral Resource and Ore Reserve estimation procedure(s) and | between prospect areas. | |
| classifications applied. | Historical drilling, including the 2022 program at the Arrow Zone, was designed for | |
| • Whether sample compositing has been applied. | early-stage exploration rather than systematic grid-based resource definition. | |
| The current drilling program (including drillholes CL-26-01 to CL-26-04) is also early- | ||
| stage in nature and is not designed to establish geological or grade continuity for the | ||
| purposes of Mineral Resources Estimation. Accordingly, data spacing and distribution | ||
| are not sufficient to support Mineral Resource or Ore Reserve estimation. | ||
| No assay results are reported for the current drilling program, and therefore no sample | ||
| compositing or data aggregation has been applied. |
ASX | FIN
Page | 16
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Orientation of | • Whether the orientation of sampling achieves unbiased sampling | Orientation of Data in Relation to Geological Structure |
| data in relation | of possible structures and the extent to which this is known, | |
| to geological | considering the deposit type. | The Bugow Iron Formation is folded, with mineralisation occurring within sulphide-rich |
| structure | • If the relationship between the drilling orientation and the | zones hosted in steeply dipping banded iron formation. |
| orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
Drilling has been oriented to intersect the interpreted mineralised structures as close to perpendicular as practicable. For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), holes are designed at varying orientations to obtain structural |
|
| data, including lithological contact, bedding, and faults, and therefore improve | ||
| understanding and interpretation of structural controls. | ||
| Due to the early-stage nature of the program and limited drilling completed to date, the | ||
| true orientation and geometry of mineralisation are not yet fully constrained. All | ||
| observations are based on downhole logging, and true widths of mineralisation are not | ||
| yet known. | ||
| Sample security | • The measures taken to ensure sample security. | Sample Security |
| Historical sample custody was managed by previous operators using standard industry | ||
| practices at the time, including secure handling and transport to accredited | ||
| laboratories. | ||
| For more recent programs (2020-2022), samples were bagged, sealed and transported | ||
| under supervision, with chain-of-custody procedures maintained through to laboratory | ||
| submission. | ||
| For the current 2026 drilling program (including drillholes CL-26-01 to CL-26-04), only | ||
| drill core from CL-26-01 has been sampled and submitted for laboratory analysis at the | ||
| time of reporting. These samples have only just been prepped by the laboratory and no | ||
| results have yet been received. | ||
| Drill core is being securely stored and handled under the supervision of the Company’s | ||
| geological consultants, including secure bagging, sealing and supervised transport to an | ||
| accredited laboratoryfor samplepreparation and analysis. | ||
| Audits or reviews | • The results of any audits or reviews of sampling techniques and | Audits or Reviews |
ASX | FIN
Page | 17
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| data. | FIN has reviewed available historical exploration datasets, including drilling and | |
| sampling data from previous operators. Data from more recent programs (2020-2024) is | ||
| considered to have been collected using industry standard sampling and QAQC | ||
| procedures. | ||
| No independent audit or review has been undertaken for the current 2026 drilling | ||
| program (including drillholes CL-26-01 to CL-26-04) at the time of reporting. | ||
| The current program is being conducted under the supervision of experienced | ||
| geological consultants, with data collection and logging procedures consistent with | ||
| industry standard practices. |
Section 2 Reporting of Exploration Results
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | JORC Code explanation | Commentary |
|---|---|---|---|
| Mineral | • | Type, reference name/number, location and ownership including | Mineral Tenement and Land Tenure Status |
| tenement and land tenure status |
agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
The Cabin Lake Gold Project comprises one active mineral claim (CL-1, M10076) covering approximately 400 hectares within Tłıchǫ settlement lands, located approximately 105 km northwest of Yellowknife, Northwest Territories, Canada. |
|
| • | The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
A 2.0% royalty is payable to Silver Range Resources Ltd on precious metal production from the property, with provisions to purchase a portion of the royalty subject to certain milestone payments. |
|
| Access to the project is via helicopter, float or ski-equipped aircraft, or seasonal winter | |||
| road. An active Winter Access Road Agreement with the Tłıchǫ Government provides | |||
| ground access to the project area. | |||
| The tenure is in good standing, with no known impediments to exploration activities or the | |||
| granting of a licence to operate. |
ASX | FIN
Page | 18
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Exploration done | • Acknowledgment and appraisal of exploration by other parties. | Exploration Done by Other Parties |
| by other parties | Historical exploration at the Cabin Lake Gold Project has included geological mapping, | |
| geophysical surveys, trenching and more than 14,000 metres of diamond drilling since the | ||
| discovery of mineralisation in 1938. | ||
| Previous work has been undertaken by several operators, including Andrew Yellowknife | ||
| Mines (1946-1947), Cominco (1985), Freeport McMoRan (1986-1987), Aber Resources | ||
| (1987-1990) and Rover Metals Corp (2018-2025), and has contributed to the current | ||
| understanding of the geology and mineralisation at the project. | ||
| Geology | • Deposit type, geological setting and style of mineralisation. | Geology |
| Gold mineralisation at the Cabin Lake Gold Project is interpreted to be hosted within | ||
| sulphide-rich zones in the Bugow Iron Formation of the Archaean Yellowknife Supergroup. | ||
| Mineralisation is structurally controlled and associated with pyrite and pyrrhotite, with | ||
| minor arsenopyrite. | ||
| Drill hole | • A summary of all information material to the understanding of | Drill Hole Information |
| Information | the exploration results including a tabulation of the following information for all Material drill holes: |
Drillhole collar details for the current drilling program (including drillholes CL-26-01 to CL- 26-04) are provided in the body of this announcement. |
o easting and northing of the drill hole collar |
No assay results or mineralised intercepts are reported for drillholes CL-26-01 to CL-26-04, | |
o elevation or RL (Reduced Level - elevation above sea level in |
as sampling and laboratory analysis are pending. | |
| metres) of the drill hole collar | ||
o dip and azimuth of the hole |
||
o down hole length and interception depth |
||
o hole length. |
||
| • If the exclusion of this information is justified on the basis that | ||
| the information is not Material and this exclusion does not | ||
| detract from the understanding of the report, the Competent | ||
| Person should clearly explain why this is the case. | ||
| Data aggregation | • In reporting Exploration Results, weighting averaging techniques, |
Data Aggregation Methods |
| methods | maximum and/or minimum grade truncations (e.g. cutting of | No assayresults are reported for the current drilling program,and therefore no data |
ASX | FIN
Page | 19
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| high grades) and cut-off grades are usually Material and should | aggregation or compositing has been applied. | |
| be stated. | ||
| • Where aggregate intercepts incorporate short lengths of high- | ||
| grade results and longer lengths of low-grade results, the | ||
| procedure used for such aggregation should be stated and some | ||
| typical examples of such aggregations should be shown in detail. | ||
| • The assumptions used for any reporting of metal equivalent | ||
| values should be clearly stated. | ||
| Relationship | • These relationships are particularly important in the reporting of | Relationship Between Mineralisation Widths and Intercept Lengths |
| between mineralisation widths and |
Exploration Results. • If the geometry of the mineralisation with respect to the drill hole |
Mineralised zones are interpreted to be steeply dipping; however, drilling to date is not sufficiently dense or appropriately oriented to establish true widths. |
| intercept lengths | angle is known, its nature should be reported. | No assay intervals are reported for the current drilling program (including drillholes CL-26- |
| • If it is not known and only the down hole lengths are reported, | 01 to CL-26-04). | |
| there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). |
True widths of mineralisation will be determined through future drilling, and the use of oriented core. |
|
| Diagrams | • Appropriate maps and sections (with scales) and tabulations of | Diagrams |
| intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
Relevant maps and figures illustrating geophysical survey coverage, drillhole collar locations and geological context are included in the body of this announcement. All figures include appropriate scales and coordinate references. |
|
| Balanced | • Where comprehensive reporting of all Exploration Results is not | Balanced Reporting |
| reporting | practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
No assay results or mineralised intercepts are reported for the current drilling program (including drillholes CL-26-01 to CL-26-04). |
| All material geological results have been previously reported by the Company and are | ||
| available in prior ASX announcements. | ||
| Other substantive | • Other exploration data, if meaningful and material, should be |
The project area has been covered by airborne magnetics, ground magnetics and induced |
| exploration data | reported including (but not limited to): geological observations; | polarisation surveys that assist to define exploration targets associated with the Bugow |
| geophysical survey results; geochemical survey results; bulk | Iron Formation. | |
| samples - size and method of treatment; metallurgical test | The current drilling program(includingdrillholes CL-26-01 to CL-26-04)has visually |
ASX | FIN
Page | 20
FIN RESOURCES LIMITED
==> picture [607 x 55] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| results; bulk density, groundwater, geotechnical and rock | identified sulphide mineralisation within the banded iron formation, consistent with the | |
| characteristics; potential deleterious or contaminating | Company’s geological model. | |
| substances. | No quantitative geophysical results or assay data are reported in this announcement. | |
| No metallurgical test work has been undertaken to date. | ||
| Further work | • The nature and scale of planned further work (e.g. tests for | Further work will include continued diamond drilling to test extensions of mineralisation |
| lateral extensions or depth extensions or large-scale step-out | along strike and at depth, together with ongoing ground magnetic, surface IP and | |
| drilling). | downhole IP surveys to support ongoing drilling and geological interpretation. | |
| • Diagrams clearly highlighting the areas of possible extensions, | Geophysical surveys will continue through the summer field season to extend coverage | |
| including the main geological interpretations and future drilling | across the broader mineralised corridor. | |
| areas, provided this information is not commercially sensitive. |
ASX | FIN
Page | 21
FIN RESOURCES LIMITED