Mont Royal Resources — Capital/Financing Update 2023

Mar 22, 2023

ASX ANNOUNCEMENT

ASX: MRZ | 23-03-2023

MULTI PHASE EXPLORATION PROGRAM TO COMMENCE

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ASX:MRZ
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HIGHLIGHTS

• 1,000m Diamond Drilling program to commence at Eastmain Léran targeting copper-gold sulphide mineralization

• Planned drill holes positioned across historical exploration and strongest results from 2022 soil survey

• Helicopter supported Lithium exploration/prospecting program to follow at Bohier project and Eastmain Léran

• This program will aim to identify outcropping, collection of grab samples and carry out detailed mapping along the greenstone belt targeting pegmatites from the Wahemen granite formations

Mont Royal Resources Limited (“ Mont Royal ”, the “ Company ”) ( ASX:MRZ ) is pleased to announce that a two phase exploration program will commence at the Northern Lights Project(s) in the Upper Eastmain Greenstone Belt located in Quebec, Canada.

Eastmain Léran – Drilling Program

The Company will shortly commence a diamond drilling program of 5 planned holes targeting potential copper & gold extensions to historical exploration in the 1950’s and 1970’s. The program will consist of approximately 1,000m of drilling over a 2 to 3 week period.

CORPORATE DIRECTORY

Gary Lawler CORPORATE DIRECTORY Non-Executive Chairman Gary Lawler Peter Ruse NonExecutive Director

Michael O’Keeffe Gary Lawler Non-Executive Direc Non-Executive Chairman

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Fig. 1: The upper Eastmain Greenstone Belt with Northern Lights Tenure, Eastmain Léran (Focus Graphite) and Dios optioned tenure

The drill program will be targeting shallow copper-gold sulfides mineralization that appears to be the source of the sulfide blocks found down-ice on the neighboring (western) property. Drill holes will be orientated to target the horizon hosting the ‘Alta-Eastmain showing’ to coincide with strongest anomalies from the 2022 soil survey.

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Fig. 2: Preliminary positioning of planned holes in the March/April program at Eastmain-Léran Source: IOS Geoscienfiques

Historical exploration – Eastmain Léran

The project covers the eastern portion the Upper Eastmain Greenstone Belt (UEGB) over an area of over 281 km[2] (Figure 1). Exploration in the area started in the early 1940’s (Tait, 1945), however it was only in 1957 that the first mineral discovery, the Alta-Eastmain showing, was made following prospection and mapping by Rio Tinto (Hébert, 1971). Since then, exploration was undertaken sporadically, and seven mineral occurrences were found. Before 2017, the area was considered underexplored despite the UEGB hosting the Eastmain gold mine and several other Cu-Au occurrences.

Between 2017 and 2019, airborne EM, trenching (Desbiens, 2018), prospection (Hurtubise and Block, 2019) and a regional indicator minerals and soil surveys were undertaken (Lavoie et al ., 2019, Fournier, 2020 and Longuépée, 2021), and several areas of interest were highlighted.

In 2022, Mont Royal Resources conducted a soil survey on five grids located in the western area and preliminary results suggest that the Alta-Eastmain remains the area with highest potential for copper mineralization (Refer MRZ ASX Release – “Initial Soil Sampling Results” - 25 January 2023). The geology of the UEGB is favourable for volcanogenic massive sulphides (VMS) and therefore may host base and gold deposits, especially in the western end of the Eastmain-Léran property where the Alta-Eastmain occurrence is located.

ALTA-EASTMAIN SHOWING – KEY AREA OF FOCUS AND HISTORICAL EXPLORATION WORK

Found in 1957, the Alta-Eastmain occurrence is interpreted as a volcanogenic massive sulphide (VMS). Average copper (Cu) grade from eight (8) grab samples is 1.35% Cu and the best reported channel sample yielded a grade of 1.26% Cu over 7.6 m (Nethery, 1959). The massive sulphide hosts secondary mineralisation of Ag (5.4 g/t), Ni (0.09%), Co (0.12%) and Au (0.3 g/t).

Rio Tinto drilled four holes (Nethery, 1958) and Alta Copper and Metals drilled seven holes (Wahl, 1972) underneath the Alta-Eastmain showing and several holes intersected copper mineralization, especially Alta Copper’s hole 72-2 with 1.64% Cu over 7.1 metres.

The mineralization is stratiform and several historical and recent trenches indicate that it is approximately 240m long and 7.6m wide (Desbiens, 2018). It remains open at both ends. It is associated with a brecciated rhyolite and a cherty tuff. There is noticeable alteration (silicification). The mineralisation is cut by an ENE – WSW trending shear. Several exploration campaigns (stripping, drilling) focused on Alta-Eastmain, and its extension Alta-East, and it remains the most significant occurrence in the area.

Eastmain Léran – Final Soil survey results

The Company has now received the entire package of results from the sampling program completed in second half of 2022. The final batches results are currently being processed by a polynormalization method that enables the filtering of false anomalies. The normalized results from the Alta-Eastmain grid are expected before the start of the drilling program and will help finetune the drill hole location and define the most promising trend.

Results from the other grids are currently being processed but these grids are located in areas with less geological data and any anomalies will be checked by prospecting before any future drilling.

Bohier Project & Eastmain Léran – Lithium Exploration and Prospection program

Additional to the upcoming drilling program, the Company is preparing a critical metals exploration program to identify lithium pegmatites on the Bohier and Eastmain-Léran projects.

The Bohier mafic volcanics are part of the similar package that hosts Benz Mining’s Ruby Hill pegmatite. Additional pegmatites dykes were found less than a kilometre west of the Bohier Project (Refer ASX:BNZ Release – 27 October 2022) and the dyke swarm could potentially extend onto the Bohier property.

This program to be led by IOS Geoscientifique technical team will conduct a detailed prospecting campaign aimed at detailed mapping, logging, sampling of outcropping Wahemen granite. Results will be analysed to determine whether their chemical composition is compatible with lithium caesium tantalum (LCT) systems.

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Bohier
33 Carats
(Dios)
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Fig 3: Bohier Project showing the same volcanic rock package (light green) proven to host pegmatite to the west. Source: IOS Geoscienfiques

The north edge of the Eastmain-Léran project (Fig 3) is also a favourable lithium target because of the proximity of the Wahemen granite which has the chemistry and mineralogy of a LCT pegmatite parental granite (Talla Takam and Beauchamp, 2016). The pegmatites are unlikely to be found in the granite itself but in the mafic volcanics a few kilometres from the greenstone – granite contact.

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Fig 4: Eastmain Léran including additional northern claims with Li exploration potential along the Wahemen Granite

Source: IOS Geoscienfiques

The Company looks forward to embarking on its 2023 exploration program and will keep shareholders informed with updates as soon as they become available.

This announcement was approved for release by the Board.

ENDS.

For and on Behalf of the Board

Shaun Menezes | Company Secretary

For Further Information:

Peter Ruse Executive Director info@montroyalres.com	Jane Morgan Investor and Media Relations +61 405 555 618 jm@janemorganmanagement.com.au

About Mont Royal Resources

Mont Royal Resources Limited (ASX:MRZ) is an Australian company incorporated for the purpose of pursuing various mining opportunities in the resources sector, with the aim of building shareholder value by acquiring, exploring, evaluating and exploiting mineral resource project opportunities. The Company has entered into a binding JV option agreement with Azimut Exploration Inc. (TSXV: AZM), to earn-in up to 70% of the Wapatik Gold-Copper Project, located in James Bay area, a tier 1 mining jurisdiction of Quebec, Canada. Mont Royal acquired 75% of Northern Lights Minerals 536 km[2] package located in the Upper Eastmain Greenstone belt- the projects are prospective for both precious (Gold, Silver) and base metals mineralisation (Copper, Nickel), located in James Bay area, a tier 1 mining jurisdiction of Quebec, Canada. For further information regarding Mont Royal Resources Limited, please visit the ASX platform (ASX:MRZ) or the Company’s website www.montroyalres.com

Competent Person’s Statement

The information in this report that relates to exploration results is based on information compiled by Mr Hugues Longuépée, a Competent Person who is a Member of the Ordre des Géologues du Québec. Mr Longuépée is a consultant to the Company. Mr Longuépée has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a competent person as defined in the JORC Code 2012. Mr Longuépée does not hold securities in Mont Royal Resources Limited and consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Annexure 1

TABLE 1: DRILL HOLE LOCATIONS

Hole ID	Easting	Northing	Elevation	Total depth (m)	Azimuth	Dip
L-3	303561	5822137	n/a	16.76	326	-45
L-4	303642	5822168	n/a	18.29	326	-50
L-5	303744	5822222	n/a	14.33	326	-35
L-7	303835	5822299	n/a	23.16	150	-25
L-8	303824	5822224	n/a	32.61	326	-35
72-1	303459	5822392	n/a	106.07	330	-45
72-2	303540	5822484	n/a	76.20	330	-45
72-3	303583	5822406	n/a	112.04	330	-45
72-4	303642	5822499	n/a	48.46	330	-45
72-5	303684	5822422	n/a	50.32	330	-45
72-6	303779	5822471	n/a	70.71	330	-45
72-7	303726	5822429	n/a	60.53	330	-70

Rio Tinto’s hole L-7 was collared near the Alta showing but drilled away from it and therefore never hit the mineralized zone.

Annexure 2

Table 2: MINERALRESULTS () DRILL HOLE INTERSECTIONS FROM RIO TINTO (L-series) and Alta Copper (72-series) DRILL PROGRAMS. Only assays above 0.5% Cu are listed. Intervals composed of 2 or more samples highlighted in grey.

Hole_ID	From (m)	To (m)	Sample Interval (m)	Cu (%)
L-3	9.45	10.30	0.85	1.05
L-3	10.67	12.19	1.52	0.95
L-3	12.19	12.80	0.61	1.33
L-3	12.80	14.17	1.37	1.10
L-3	15.82	16.58	0.76	0.90
L-4	6.10	7.62	1.52	0.55
L-4	7.62	9.45	1.83	0.97
L-4	9.45	10.55	1.10	1.00
L-4	16.76	18.29	1.53	1.28
L-4	18.29	19.81	1.52	2.67
L-4	19.81	21.34	1.53	0.90
L-4	21.34	22.10	0.76	0.77
72-1	74.98	75.74	0.76	0.53
72-2	24.69	27.43	2.74	0.62
72-2	34.90	35.72	0.82	0.73
72-2	42.37	45.42	3.05	1.36
72-2	45.42	46.63	1.21	3.25

72-2	46.63	49.44	2.81	1.26
72-3	64.92	65.98	1.06	0.98
72-3	75.13	76.81	5.5	1.34
72-3	76.81	77.42	0.61	0.89
72-3	79.55	80.07	0.52	1.11
72-3	90.22	90.98	0.76	2.20
72-4	39.95	41.45	1.50	0.84
72-4	49.07	51.21	2.14	0.65
72-5	90.40	92.96	2.56	0.67
72-5	92.96	95.34	2.38	1.32
72-7	85.34	88.39	3.05	0.62

APPENDIX A - JORC CODE, 2012 EDITION

Table 1 – JORC Code 2012 Edition

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling techniques	•	Nature and quality of sampling (eg cut	•	Not applicable as no soil survey data are disclosed in the
		channels, random chips, or specific		current announcement.
		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 sampling.
	•	Include reference to measures taken to
		ensure sample representivity and the
		appropriate calibration of any
		measurement tools or systems used.
	•	Aspects of the determination of
		mineralisation that are Material to the
		Public Report.
	•	In cases where ‘industry standard’ work
		has been done this would be relatively
		simple (eg ‘reverse circulation drilling
		was used to obtain 1m samples from
		which 3 kg was pulverised to produce a
		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 (eg submarine
		nodules) may warrant disclosure of
		detailed information.
Drilling techniques	•	Drill type (eg core, reverse circulation,	•	Diamond drilling.
		open-hole hammer, rotary air blast,	•	The Rio Tinto program (1957) done using an X-Ray drill
		auger, Bangka, sonic, etc) and details		(unspecified diameter)
		(eg core diameter, triple or standard	•	Alta Copper drilling program (1972) drill type and core
		tube, depth of diamond tails, face-		size are unspecified.
		sampling bit or other type, whether core
		is oriented and if so, by what method,
		etc).
Drill sample recovery	•	Method of recording and assessing	•	Core loss is noted as intervals of ground core in the Rio
		core and chip sample recoveries and		Tinto logs. The recovery is approximately 99%. There is
		results assessed.		no relation between core loss and grade.
	•	Measures taken to maximise sample	•	There is no mention of core loss in the Alta Copper drill
		recovery and ensure representative		logs. Therefore, the recovery is assumed to be 100%.
		nature of the samples.
	•	Whether a relationship exists between
		sample recovery and grade and
		whether sample bias may have
		occurred due to preferential loss/gain of
		fine/coarse material.
Logging	•	Whether core and chip samples have	•	Rio Tinto: core was logged down to a precision of 6
		been geologically and geotechnically		inches. Core description is rather short (one line) with
		logged to a level of detail to support		focus on alteration and sulphide content. There are no
		appropriate Mineral Resource		photos available.
		estimation, mining studies and	•	Alta Copper: core was logged down to a precision of 6
		metallurgical studies.		inches. Core description includes rock type (occasionally
	•	Whether logging is qualitative or		color and texture), alteration and sulphide content. There
		quantitative in nature. Core (or costean,		are no photos available.
		channel, etc) photography.
	•	The total length and percentage of the
		relevant intersections logged.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sub-sampling techniques and	•	If core, whether cut or sawn and	•	None of the historical drill report mention	the core
sample preparation		whether quarter, half or all core taken.		sampling technique.
	•	If non-core, whether riffled, tube	•	There is no mention of quality control procedure.
		sampled, rotary split, etc and whether	•	The assays from the Rio Tinto and Alta Copper cannot		be
		sampled wet or dry.		used for resources calculation. They are solely used as		an
	•	For all sample types, the nature, quality		indication of copper in the massive sulphides	at the drill
		and appropriateness of the sample		location.
		preparation technique.
	•	Quality control procedures adopted for
		all sub-sampling stages to maximise
		representivity of samples.
	•	Measures taken to ensure that the
		sampling is representative of the in-situ
		material collected, including for
		instance results for field
		duplicate/second-half sampling.
	•	Whether sample sizes are appropriate
		to the grain size of the material being
		sampled.
Quality of assay data and	•	The nature, quality and	•	The techniques used for assaying of the 1950’s and
laboratory tests		appropriateness of the assaying and		1970’s core is not mentioned in the historical reports.
		laboratory procedures used and	•	Modern handheld instruments were not available at that
		whether the technique is considered		time (1950’s-70’s).
		partial or total.	•	It is assumed that the quality of the data is	not up	to
	•	For geophysical tools, spectrometers,		modern standards and cannot be used for	resources
		handheld XRF instruments, etc, the		modelling. However, the grades are an indication		of
		parameters used in determining the		copper (Cu) in the mineralized intervals.
		analysis including instrument make and
		model, reading times, calibrations
		factors applied and their derivation, etc.
	•	Nature of quality control procedures
		adopted (eg standards, blanks,
		duplicates, external laboratory checks)
		and whether acceptable levels of
		accuracy (i.e. lack of bias) and
		precision have been established.
Verification of sampling and	•	The verification of significant	•	There is no mention of independent validation	for the Rio
assaying		intersections by either independent or		Tinto and Alta Copper procedures and results.
		alternative company personnel.	•	No twin holes were drilled.
	•	The use of twinned holes.	•	The primary data are available as paper logs and is limited
	•	Documentation of primary data, data		to core description.
		entry procedures, data verification, data
		storage (physical and electronic)
		protocols.
	•	Discuss anyadjustment to assaydata.
Location of data points	•	Accuracy and quality of surveys used to	•	The historical drill hole location, as shown on figure 2 and
		locate drill holes (collar and down-hole		listed in table A, is provided by the Government	of Quebec
		surveys), trenches, mine workings and		Mining Exploration	Database
		other locations used in Mineral		(www.sigeom.mines.gouv.qc.ca)
		Resource estimation.	•	Grid system is UTM NAD83 (Zone 19).
	•	Specification of the grid system used.
	•	Quality and adequacy of topographic
		control.
Data spacing and distribution	•	Data spacing for reporting of	•	The spacing between historical holes varies between		75
		Exploration Results.		and 115 meters. These were exploration holes, and their
	•	Whether the data spacing, and		location was based on potential extension		of
		distribution is sufficient to establish the		mineralization seen at surface.
		degree of geological and grade	•	The Company’s upcoming drilling will 1) try to	reproduce
		continuity appropriate for the Mineral		the results from some the Alta Copper holes, and 2) drilled
		Resource and Ore Reserve estimation		with 200 meters spacing to assess mineralization and
		procedure(s) and classifications		alteration vectors on a more regional scale. Such spacing
		applied.		is not optimized for resource estimation.
	•	Whether sample compositing has been	•	No composition was done for historical data,
		applied.
Orientation of data in relation	•	Whether the orientation of sampling	•	Except for Rio Tinto L-7 hole, which was drilled in the
to geological structure		achieves unbiased sampling of possible		opposite direction, all the holes were drilled
		structures and the extent to which this		perpendicularly to the geological structure. Several
		is known, considering the deposit type.		mention of banding at 80-90 degrees to core	axis in the
				Alta Copper logindicate that the hole dipwas optimal..

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	•	If the relationship between the drilling	•	The Company’s	upcoming	holes	are	planned
		orientation and the orientation of key		perpendicular to	the mafic-felsic contact			which is
		mineralised structures is considered to		interpreted as the favourable horizon for mineralization.
		have introduced a sampling bias, this
		should be assessed and reported if
		material.
Sample security	•	The measures taken to ensure sample	•	No mention of sample security in the Rio Tinto and Alta
		security.		Copper reports.
Audits or reviews	•	The results of any audits or reviews of	•	No mention of sample security in the Rio Tinto and Alta
		sampling techniques and data.		Copper reports.

Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement and land	•	Type, reference name/number, location	•	A subsidiary of NLM holds rights to acquire 100% of the
tenure status		and ownership including agreements or		rights in assets held by Focus Graphite Inc. The Company
		material issues with third parties such		has not yet earned an interest in the tenements. Further
		as joint ventures, partnerships,		details are set out in the Company’s announcement dated
		overriding royalties, native title		3 September 2021.
		interests, historical sites, wilderness or	•	The land is part of Quebec’s Category III land on which
		national park and environmental		mineral exploration is permitted by the Government and
		settings.		First Nations.
	•	The security of the tenure held at the	•	All the exploration claims are secured and there are no
		time of reporting along with any known		impediments to operate.
		impediments to obtaining a license to
		operate in the area.
Exploration done by other	•	Acknowledgment and appraisal of	•	Rio Tinto conducted a mapping and prospecting program
parties		exploration by other parties.		prior to drilling in 1958. No exploration activity took place
				after this.
			•	From 1970 to 1972, Alta Copper Mines conducted a series
				of geological and geophysical surveys that led to the
				drilling of seven drill holes.
			•	In 1986, Yorbeau Resources resampled the Rio Tinto
				trenches and Alta Copper drill holes and confirmed the
				presence of gold in the massive sulphides.
			•	In 2005, Société Minière Alta completed a series of soil,
				till, and geophysical surveys. No follow-up was done.
			•	In 2017, trenching and channel sampling was done by
				Focus Graphite. Copper mineralization was confirmed
				and east extension of the Alta showingwas found.
Geology	•	Deposit type, geological setting and	•	The properties sit on an Archean Greenstone Belt with
		style of mineralisation.		known volcanogenic massive sulphides (VMS)
				occurrences. Lithium pegmatites are also present in the
				area.
Drill hole Information	•	A summary of all information material to	•	Drill hole information is set out in Annexure 1.
		the understanding of the exploration
		results including a tabulation of the
		following information for all Material drill
		holes:
		o easting and northing of the drill hole
		collar
		o elevation or RL (Reduced Level –
		elevation above sea level in meters)
		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
		understandingof the report,the

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		Competent Person should clearly
		explain why this is the case.
Data aggregation methods	•	In reporting Exploration Results,	•	Historical results are reported as individual samples. No
		weighting averaging techniques,		data aggregation was done.
		maximum and/or minimum grade
		truncations (eg cutting of high grades)
		and cut-off grades are usually Material
		and should 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
		clearlystated.
Relationship between	•	These relationships are particularly	•	The reported angles to core axis in the Alta Copper logs
mineralisation widths and		important in the reporting of Exploration		(60 to 90 degrees) suggests that the true thickness is
intercept lengths		Results.		likely 86% (or more) of the reported thickness. In Alta
	•	If the geometry of the mineralisation		Copper 72-2, the reported thickness of 7.6m at 70
		with respect to the drill hole angle is		degrees to core axis equals a true width of 7 meters.
		known, its nature should be reported.
	•	If it is not known and only the down
		hole lengths are reported, there should
		be a clear statement to this effect (eg
		‘down hole length, true width not
		known’).
Diagrams	•	Appropriate maps and sections (with	•	Please see figure 2, which sets out a map of the location
		scales) and tabulations of intercepts		of the Rio Tinto and Alta Copper and Metals holes in
		should be included for any significant		relation to the Company’s proposed drill targets.
		discovery being reported These should
		include, but not be limited to a plan
		view of drill hole collar locations and
		appropriate sectional views.
Balanced reporting	•	Where comprehensive reporting of all	•	Material intersections from Rio Tinto and Alta Copper are
		Exploration Results is not practicable,		set out ine Annexure 2. Only assays above 0.5% copper
		representative reporting of both low and		are reported which comprises assays information from 8
		high grades and/or widths should be		of the 11 holes.
		practiced to avoid misleading reporting
		of Exploration Results.
Other substantive exploration	•	Other exploration data, if meaningful	•	The historical exploration provided in the announcement
data		and material, should be reported		can be accessed via the Quebec Ministry of Natural
		including (but not limited to): geological		Resources library (EXAMINE;
		observations; geophysical survey		www.sigeom.mines.gouv.qc.ca). The reports referred to
		results; geochemical survey results;		in the announcement are:
		bulk samples – size and method of		oTait, A.H., 1945: GM 09509
		treatment; metallurgical test results;		oHébert, Y., 1971: GM 27526
		bulk density, groundwater, geotechnical		oDesbiens, S., 2018: GM 70625
		and rock characteristics; potential		oHurtubise, E. and Block, M., 2019: GM 71330
		deleterious or contaminating		oLavoie, J., Fournier, N. and Girard, R., 2019 : GM 71696
		substances.		oFournier, N., 2020 : GM 71879
				oLonguépée, H., 2021 : GM 72413
				oNethery, W.A., 1958 : GM 09871B
				oNethery, W.A., 1959: GM 0971A
				oWahl, D.G.., 1972: GM 28014
				oTalla Takam, F. and Beauchamp, A.-M., 2016: CG 2016-
				08

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Further work	•	The nature and scale of planned further	•	The current announcement states the upcoming drilling at
		work (e.g. tests for lateral extensions or		Eastmain-Léran and prospection at Bohier.
		depth extensions or large-scale step-	•	Further drilling and sampling will be panned according to
		out drilling).		results and analysis from the drill program due to
	•	Diagrams clearly highlighting the areas		commence in March/April 2023.
		of possible extensions, including the
		main geological interpretations and
		future drilling areas, provided this
		information is not commercially
		sensitive.