22:07:05 EDT Thu 09 Apr 2026
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1844 Resources Inc
Symbol EFF
Shares Issued 142,159,442
Close 2026-04-09 C$ 0.03
Market Cap C$ 4,264,783
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1844 Resources receives drill permits for SV2

2026-04-09 18:43 ET - News Release

Mr. Sylvain Laberge reports

1844 RESOURCES SECURES DRILLING PERMITS AND RE-ACTIVATES FLAGSHIP GASPE SV2 COPPER PROJECT

1844 Resources Inc. has received the necessary drilling permits for its renamed flagship SV2 (Sullipek/Vortex/Vallieres) copper project located in the Gaspe Peninsula, Quebec, marking the first time in over a decade that the project is fully drill-ready.

Project highlights:

  • 130 claims covering approximately 68 square kilometres in the Gaspe copper belt;
  • Located 22 km west of Osisko Metals' Gaspe copper project in Murdochville;
  • Vallieres project subject to a joint venture agreement with Glencore;
  • 50/50 joint venture with Glencore on the adjoining Vallieres project;
  • National Instrument 43-101 inferred resource on the Sullipek property of 2.24 million tonnes grading 1.09 per cent Cu;
  • As reported in the Aug. 10, 2012, press release, drilling intersected 29.8 metres grading 0.94 per cent copper;
  • Airborne geophysical survey completed in October, 2025, with data currently being integrated into exploration targeting.

Bernard-Olivier Martel, PGeo, director of exploration, said: "Historically, exploration in the Gaspe region focused on high-grade copper discoveries exceeding 1 per cent Cu, which drove early development at Murdochville. Today, the progress of Osisko Metals' Gaspe copper project, with grades below 1 per cent, is transforming the exploration model: The focus is on the extent and continuity of mineralization, rather than on grade alone. This development greatly enhances the potential of both new and existing projects aligned with the same favourable geological settings and opens the door to a new wave of high-tonnage copper exploration opportunities in the region."

Sylvain Laberge, president and chief executive officer, commented: "After years of regulatory constraints, we have now secured the required permits and are in a position to advance SV2 toward a modern exploration program. With a combination of historical data, recent geophysics and a favourable geological setting within the Gaspe copper district, we believe the project presents strong potential for further discovery."

Next steps

The company is finalizing its 2026 work program and will provide further details in coming releases as it advances toward a drill campaign scheduled for late summer/early fall 2026. Preliminary targets for the drill program have been identified but will continue to be refined through additional desktop work and compilation of historical results of prior drill programs and modern geophysics.

Grant of options

The company has granted an aggregate of 500,000 stock options to a director. The options are exercisable at a price of five cents per share for a period of five years from the date of grant. They will vest one year following the date of grant and remain subject to regulatory approval and applicable policies.

About 1844 Resources Inc.

1844 is a Canadian exploration company focused on unlocking the value of strategic and energy transition metals in the underexplored region of Gaspe, Quebec. With a resolute leadership team and a forward-looking approach, 1844 aims to deliver long-term shareholder value through discovery and disciplined growth.

Qualified person

Mr. Martel, PGeo, the company's director of exploration, is a qualified person (as such term is defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects)) and has reviewed and approved the technical disclosure contained in this news release.

We seek Safe Harbor.

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