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T2 Metals Corp
Symbol TWO
Shares Issued 47,446,586
Close 2026-02-10 C$ 0.45
Market Cap C$ 21,350,964
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T2 Metals begins resource estimate prep for Sherridon

2026-02-10 18:45 ET - News Release

Mr. Mark Saxon reports

T2 METALS COMMENCES MINERAL RESOURCE ESTIMATE FOR SHERRIDON COPPER PROJECT, MANITOBA

T2 Metals Corp. has commissioned a mineral resource estimate (MRE) for its flagship Sherridon copper-zinc-gold-silver mineral project in the Flin Flon mining district of central western Manitoba.

Resource calculation is under way on four of the five historical mineral resource areas (see press release dated Nov. 1, 2024) at Sherridon in accordance with National Instrument 43-101 standards. The mineral resource estimate will incorporate new data from the T2 Metals drilling programs, new assays from previously unsampled intervals, and update metal prices and other assumptions from the historical mineral resource estimate of 2010.

Highlights:

  • Mineral resource estimation is under way on four unmined deposits at Sherridon (Bob, Jungle, Lost and Cold), all sited within five kilometres of the Sherridon village where all historical mining took place.
  • The resource estimate will prioritize the copper-rich nature of the Sherridon camp, aligning with current record-high copper pricing and market sentiment.
  • Sherridon is located within the Flin Flon-Snow Lake greenstone belt, only 65 kilometres from Flin Flon and 120 km from Foran Mining's McIlvenna Bay development project -- recently the subject of a $3.8-billion acquisition by Eldorado Gold.
  • Resource estimation will incorporate T2 Metals' 2023 to 2025 drilling which included 23.50 metres grading 1.18 per cent copper (Cu), 6.8 grams per tonne gold (Au), 40.4 g/t silver (Ag) and 1.46 per cent zinc (Zn) in SH23005.
  • An operating rail line passes through the Sherridon project, providing a unique advantage for potential future mine development.

Mark Saxon, president and chief executive officer of T2 Metals, commented: "This new mineral resource estimate for Sherridon is a key step forward for the project and the company. The attention on the future supply/demand for copper continues to grow, buoyed by rapid growth in energy, transport and data storage demands. Analysts have identified copper as a premier investment opportunity for 2026, and the value of established, near-surface deposits in a stable jurisdiction like Manitoba cannot be overstated. Metal prices used in the 2010 resource estimation were $900 (U.S.)/oz gold, $15.00 (U.S.)/oz silver, $2.50 (U.S.)/lb copper and $1.00 (U.S.)/lb zinc with current prices providing an opportunity for significant resource growth.

"We are encouraged by recent consolidation in the Flin Flon-Snow Lake district, notably the Eldorado-Foran transaction, which underscores the strategic importance of the belt as a global copper-gold powerhouse."

The company has retained independent consultants ReedLeyton Consulting, Arundon Mining Solutions Oy and Anders Hogrelius to act as the qualified persons (QPs) for the MRE. The process involves a rigorous validation of historical drill data, assay certificates and metallurgical records. T2 Metals has recently completed three successful drill programs at Sherridon, and these modern results will be integrated into the new block models to improve confidence levels in the resource classification.

Strategic context

The 2026 outlook for copper remains exceptionally strong, driven by accelerating demand from AI (artificial intelligence) data centres, electrical grid expansion and persistent global supply deficits. Market commentators (for example, Chamath Palihapitiya) have widely cited copper as the "best trade of 2026," as supply constraints at major global mines coincide with a structural shift in demand.

About the Sherridon mineral project

The Sherridon mineral project is a high-grade volcanogenic massive sulphide (VMS) camp with an extensive mining history. A total of 7.74 million tonnes were mined at an average grade of 2.46 per cent Cu, 2.84 per cent Zn, 0.6 g/t Au and 33 g/t Ag (Goetz & Froese, 1981) between 1931 and 1951 from the Sherritt Gordon East and West Mines.

The project benefits from year-round road access and an operational rail line. The historical resources are interpreted to lie on the same mineralized horizon as the former Sherritt Gordon East and West mines.

The company cautions that a qualified person has not done sufficient work to classify the historical estimates as current mineral resources, and T2 Metals is not treating the historical estimates as current mineral resources.

Disclaimers

The qualified person (as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects) for the company's projects, Mark Saxon, the company's chief executive officer, a fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.

About T2 Metals Corp.

T2 Metals is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. The company continues to target under-explored areas, including the Sherridon, Lida, Cora and Copper Eagle mineral projects where postmineralization cover masks areas of high geological prospectivity in the vicinity of major mines. T2 Metals is committed to engage with rights holders and stakeholders with the highest level of respect, ensuring that the company's exploration activities contribute positively to the communities in which the company operates.

We seek Safe Harbor.

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