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Guardian Exploration Inc (2)
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Guardian receives exploration permit for Mount Cameron

2026-05-04 17:00 ET - News Release

Mr. Graydon Kowal reports

GUARDIAN EXPLORATION INC. RECEIVES CLASS 3 EXPLORATION PERMIT FOR MOUNT CAMERON AG-ZN-PB PROJECT, YUKON

Guardian Exploration Inc. has received a Class 3 quartz exploration permit from the Department of Energy, Mines and Resources (EMR), government of Yukon, for its Mount Cameron project, a polymetallic silver-lead-zinc (Ag-Pb-Zn) property located in central Yukon, Canada.

Summary

  • The Class 3 quartz exploration permit has been received from the government of Yukon for the Mount Cameron project.
  • The permit was granted following a positive recommendation from the Yukon Environmental and Socio-economic Assessment Board (YESAB), and following consultation with the First Nation of Na-Cho Nyak Dun (FNNND).
  • The five-year term of the Class 3 permit allows for exploration focusing on potential rapid resource delineation in accordance with standards under National Instrument 43-101, and on greenfield exploration for new discoveries and expansion of known mineralized zones at the polymetallic Pb-Zn-Ag (lead-zinc-silver) Mount Cameron project.

The Class 3 permit was granted following a positive recommendation from YESAB to proceed with conditions ensuring environmental stewardship of the land and respect for traditional lifestyles and activities of the FNNND. The process included multiple consultation phases with the FNNND and is valid for a five-year term. The permit, issued by EMR, concludes the permitting process including environmental and socioeconomic assessment, and sets out the terms and conditions under which the project may proceed. These terms, as recommended by YESAB, were accepted, and the project has received the required regulatory approvals from the Yukon Minister of Energy, Mines and Resources.

"Receiving the Class 3 exploration permit for Mount Cameron is a major milestone for Guardian and marks an important step forward in unlocking the project's full potential," said Graydon Kowal, president and chief executive officer of Guardian. "With a five-year permit in place, we are well positioned to execute systematic exploration programs focused on expanding known mineralization and advancing new targets toward mineral discovery. We appreciate the collaborative process with YESAB and the first nation of Na-Cho Nyak Dun and look forward to advancing the project responsibly and efficiently."

Guardian acknowledges that the Mount Cameron project lies within the traditional territory of the FNNND. The company is committed to building a respectful, long-term relationship with the FNNND and the Mayo community, grounded in collaboration, transparency and shared benefits. Guardian will prioritize local employment and training opportunities, support procurement from indigenous-owned businesses, and uphold high standards of environmental stewardship that reflect community values. The company is dedicated to maintaining open and ongoing dialogue as exploration activities advance.

Mount Cameron Ag-Zn-Pb project

The Mount Cameron Ag-Zn-Pb project is a high-grade polymetallic exploration asset located in Yukon's Mayo mining district, comprising 154 Yukon quartz mining claims covering approximately 3,017 hectares. The project hosts both structurally controlled silver-lead-zinc (Ag-Pb-Zn) veining and carbonate replacement deposit (CRD) style mineralization and occurs along the eastern margin of the Keno Hill silver district. Historically, diamond drilling on the property has demonstrated significant grades, including up to 6.1 metres grading 287.3 g/t Ag, 26.5 per cent Zn and 5.78 per cent Pb from a 1974 program. Additionally, soil geochemical sampling programs in 1970 and 1971 also identified widespread soil geochemical anomalies.

The broader project area includes two key historic prospects: the Clark CRD-style occurrence, first identified in the 1960s and further explored through drilling and sampling in the early 1970s; and the Cameron zone of shear-hosted vein-style mineralization.

Following acquisition of the project in 2021, Guardian has confirmed strong multielement geochemical anomalies, expanded the known footprint of mineralization, and identified new target areas along strike and in parallel structures, highlighting the project's potential for new discoveries and resource growth.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Carl Schulze, BSc, PGeo, EGBC No. 25393, a consulting geologist who is a qualified person as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The qualified person has not verified the historical results disclosed in this news release.

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