Mr. Gary Musil reports

MACLAREN MINERALS UPDATES BOER PROPERTY EXPLORATION

Maclaren Minerals Ltd. has provided an update on the Boer property exploration program.

Upon completion of the initial public offering (the IPO) on Oct. 18, 2023, the company quickly went to work on the Boer property located in the Omineca mining district in the Interior Plateau of British Columbia as outlined in the National Instrument 43-101 report.

The company contracted Rio Minerals Ltd. of Vancouver, B.C., to co-ordinate the 2023 exploration program. An infill ground magnetometer survey was conducted between the Boer and LA grid areas. Additionally, infill soil sampling was conducted between the 2022 grids with expansion lines added to the west of the Boer grid and south of the LA grid. Three Horizon sample pits were dug and sampled to test highly anomalous gold values derived from the 2022 program.

The geophysical data have been processed, and 416 soil, two rock and nine horizon samples were sent to Activation Laboratories Ltd. in Kamloops, B.C., for analysis.

Soil sampling

The grid infill and expansion program resulted in the strengthening of all previously located anomalies. The gold anomalies on the Boer grid have been enhanced and several areas of 50- to 200-metre anomalies have been outlined. Additionally, several spot gold anomalies ranging from 21 ppb (parts per billion) to 84 ppb gold are indicated.

Several east-west silver trends are evident on the property and have been enhanced by the infill sampling program.

Copper values are quite high for the area and range from 37.1 ppm (parts per million) to 106 ppm Cu (copper). Zinc values are high and range from 55 pm to 189 ppm. Copper, silver and zinc in soil correlate generally and form several east-west anomalies.

Rock sampling

Assays of the two rock samples taken from the Horizon pits returned high magnesium values of 1,400 and 1,110 ppm Mg (magnesium), anomalous results for Ni (nickel) of 44 ppm Ni from 906153, anomalous Zn of 70 and 61 ppm Zn, highly anomalous barite values of 207 and 324 ppm Ba, a chromium high of 70 ppm Cr from 906153, highly anomalous strontium values of 385 and 97 mm ppm, as well as anomalous values of vanadium values of 153 and 105 ppm V.

Both of the rock samples were highly altered green volcanics with pyrite mineralization ranging from 0.5 per cent to 2 per cent.

Geophysics

Moderate to strong (200 to 1,000 nT) magnetometer anomalies are present on the grid area.

The positive anomalies reflect an increase in magnetite content (and related increase in silicification and K-feldspar/albite alteration). The grid shows three northwest-trending clusters of positive magnetometer readings. The positive anomalies are located approximately 200 to 400 metres east and northwest of the Boer breccia and continue to the southeast. These are important anomalies as they may identify increased magnetite content which is related to base and precious metal mineral occurrences.

The positive magnetometer anomalies about 200 to 300 metres east of the Boer breccia showing coincides locally with a conspicuous radial drainage pattern. The area between lines 33800E and 34400E is representative of a large swampy area.

The area around 33100E and 33300E coincides with several coincident geochemical anomalies.

First derivative results plotted give a shallower depth effect giving more detail of near-surface magnetic effects. The results of first derivative magnetics are similar to total field, suggesting vertical continuity of magnetics to depth.

Summary

The Boer breccia occurrence is a hydrothermal to magmatic breccia that includes coarse fragments of aplite and andesite in a matrix of granite. The breccia is a 90 m by 20 m exposure located on a small topographic high that probably is caused by silicification of the local rocks, making them resistant to erosion. It is mineralized with abundant finely disseminated pyrite and contains 182.4 ppm Mo, 279.5 ppm Cu and 3.4 ppm Ag. A second mineral occurrence, the LA zone, consists of two angular pieces of float that are believed to be close to source.

The samples are of a veined and polymictic breccia mineralized with up to 10 per cent disseminated pyrite in fragments and matrix. The two samples averaged 0.548 gpt Au, 11.7 gpt Ag and 0.121 per cent Mo.

These samples could represent very high-level porphyry mineralization or epithermal mineralization overlying a buried porphyry system.

The current and past work programs have illustrated that near-surface exploration techniques provide a glimpse of potential buried mineralization on the property. The company agrees with previous operators that Boer breccia occurrence may be indicative of a larger system that is not exposed at surface.

Future exploration programs will focus on the use of expanded geochemical surveys such as tree bark biogeochemical sampling and deep penetrating geophysical techniques, such as induced polarization or magnetotellurics.

National Instrument 43-101 disclosure

Nicholas Rodway, PGeo (licence No. 46541) (permit to practice No. 100359), is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

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