01:38:39 EDT Sat 12 Jul 2025
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Nine Mile Metals Ltd
Symbol NINE
Shares Issued 96,833,953
Close 2025-06-18 C$ 0.01
Market Cap C$ 968,340
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Nine Mile maintains Nine Mile Brook option

2025-06-18 17:47 ET - News Release

Mr. Patrick Cruickshank reports

NINE MILE METALS MAINTAINS NINE MILE BROOK PROJECT OPTION WITH THIRD ANNIVERSARY PAYMENT

Nine Mile Metals Ltd. has proceeded with its third anniversary payment under its option to purchase the remaining 50 per cent of the Nine Mile Brook project, dated Nov. 28, 2021, with Fiddlehead Mining Corp. On Jan. 17, 2025, the company received an extension from Fiddlehead until March 28, 2025. To maintain the option, the company was required to pay a $50,000 cash payment and complete $150,000 in work expenditures by the anniversary date. The company has negotiated the cash payment and issued 3,333,333 common shares as payment, at a deemed price of 1.5 cents. In addition, Fiddlehead has agreed to add the annual $150,000 minimum work expenditure commitment to the fourth year requirements.

This allows Nine Mile Metals to keep the option agreement in good standing and pursue its priority exploration of the flagship Nine Mile Brook volcanogenic massive sulphide project and its goal to discover additional high-grade VMS lenses.

The Nine Mile Brook project consists of 50.02 square kilometres over 229 mining claims, 10 km west of the world-famous Brunswick No. 12 mine. Below is a summary of the 2022 drill program certified assay results, previously announced, displaying the exceptional grades of the Nine Mile Brook lens.

Drill certified assays:

  • Sample No. 683512: 18.30 per cent copper, 0.40 per cent lead, 0.17 per cent zinc, 119 grams per tonne silver and 0.84 g/t gold;
  • Sample No. 683542: 15.42 per cent Cu, 2.45 per cent Pb, 2.03 per cent Zn, 173 g/t Ag and 1.05 g/t Au;
  • Sample No. 683534: 16.85 per cent Cu, 0.98 per cent Pb, 0.57 per cent Zn, 125 g/t Ag and 1.13 g/t Au.

"The team is looking forward to returning to Nine Mile Brook in fall of 2025. With abundant geophysical targets already defined, drill hole selection involves the integration of our extensive data sets, including the UAV magnetics, IP and borehole electromagnetics, and previous drill hole data, into a 3-D model to best leverage the information. The Bathurst mining camp is structurally complex and having less than 1-per-cent outcrop, the team is committed to following the science and, in particular, the advanced geophysics to guide us to success," stated Gary Lohman, vice-president and director.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on critical mineral exploration volcanogenic massive sulphide (copper, lead, zinc, silver and gold) exploration in the world-famous Bathurst mining camp, New Brunswick, Canada. The company's primary business objective is to explore its four VMS projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS and Wedge VMS. The company is focused on critical mineral exploration, positioning for the boom in electric vehicles and green technologies requiring copper, silver, lead and zinc with a hedge with gold.

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