Aankondiging • Jun 07

Corazon Mining Limited Provides an Update on Drilling At its 100%-Owned Lynn Lake Nickel-Copper-Cobalt Sulphide Project (Lynn Lake or Project) in Manitoba, Canada

Corazon Mining Limited provided an update on drilling at its 100%-owned Lynn Lake Nickel-Copper-Cobalt Sulphide Project (Lynn Lake or Project) in Manitoba, Canada. Exploration underway at Lynn Lake is focused on the Fraser Lake Complex (FLC), a large metal rich mafic intrusive body, located approximately five kilometres from the historical Lynn Lake Mining Centre (Mining Centre). Corazon has drilled three holes to date in its current diamond core drilling program and reported it has intersected nickel and copper mineralisation. Hole 045, drilled to a target depth of 618 metres, has intersected extensive magmatic mineralisation with visible nickel and copper sulphides from surface - including a zone 107 metres thick, from 241 to 348 metres downhole. This intersection is typical of the low-grade mineralisation within the historical Lynn Lake Mining Centre. This mineralisation has been geophysically linked to a dense-magnetic body approximately 200 metres to the south of hole 045. Corazon is currently drilling this target (at drill hole 046). Downhole electromagnetics testing of hole 045 has identified a strong `off-hole' conductor approximately 40 metres by 20 metres, starting from just 20 metres below surface. It is interpreted that this feature represents stronger concentration of the sulphide mineralisation intersected in hole 045 and is proposed for drill testing after the current hole 046. Details of Drilling Completed: Corazon plans to test a minimum of four targets at the FLC, for a total of approximately 3,000 metres of core drilling in the current phase of drilling. About eight to ten priority targets were generated from recent geological surveys and, pending drilling results, the current program may be extended to include these priority targets. To date, an initial test of three targets has been completed for a total of 1,923 metres (drillholes FLC-2022-041, 042 and 045). Drill hole FLC-2022-045 has been completed, to a depth of 618 metres, targeting a large coincident gravity/magnetic anomaly within the Motriuk Complex. Motriuk forms part of the intrusive magmatic channel system, located west of the main FLC intrusion. Hole 045 has intersected extensive magmatic sulphide mineralisation from surface, including visible nickel and copper sulphides. The best zone of mineralisation is 107 metres in thickness, from 241 to 348 metres downhole, and is similar to the low-grade mineralisation at the historical Lynn Lake Mining Centre. This includes disseminated, net-textured and aggregate blebby sulphides typically <5% of the rock mass and up to 20% over short intervals. The mineralisation intersected within hole 045 has been geophysically traced to a dense-magnetic body approximately 200 metres to the south. Drilling of the core of the anomaly has commenced with drill hole FLC-2022-046. Downhole electromagnetics (DHEM) completed within hole 045 has identified an exciting nearby off-hole conductor, measuring approximately 40m by 20m, starting from only about 20 metres below surface. This conductor possibly represents a stronger concentration of the sulphides intersected by hole 045. Drilling of this anomaly (proposed hole FLC-2022-047) will be completed subsequent to drilling hole 046. Drill holes FLC-2022-041 and 042 were paused approximately 200 metres from their proposed final depth. Variations in the lithologies intersected in drilling have not matched the interpretation of the aerial geophysics (gravity, magnetics and electromagnetics). As such, Corazon has taken a cautious approach, deciding to complete DHEM to assess the progress and positioning of the drill holes. DHEM is a geophysical method that is much more accurate for the definition of massive sulphides (compared to aerial methods) and is expected to refine the targeting methodology for these areas. Wet weather and poor surface conditions are currently preventing access to these drill holes. DHEM will be completed as a priority as soon as conditions improve. The current drilling program is expected to extend past its planned completion date (the end of the current month). Assays will be progressively submitted, and results will be released when available. Background to Drill Targets: The current drilling program has been designed to test discrete, geophysically-dense pipe-like bodies (pipes) within the FLC, which are analogous to the spatially related ultramafic intrusives and massive sulphide deposits within the Mining Centre, which were previously successfully mined over a period of 24 years. Corazon completed a detailed aerial gravity geophysical survey over the FLC in January 2022 that identified numerous dense, pipe-like bodies that have not been drill-tested. These features are also present within the magnetic data and appear to come together to form a large body at depth within the centre of the FLC. The geophysical characteristics of the FLC pipes are most similar to the EL Deposit within the Mining Centre. The EL Deposit is a vertical intrusive mafic pipe, about 300 metres in diameter, with an internal core of massive sulphide breccia and ultramafic rocks between 80 and 120 metres in diameter. The EL Deposit was mined to only 200 metres below surface, producing approximately 1.9 million tonnes of ore at 2.4% nickel and 1.15% copper. The potential for massive sulfide deposits to exist in close association with ultramafic lithologies within the extremely mineralised FLC forms the basis of the Company's current drilling program.

Percentage CEO-salaris	n/a
Dienstverband CEO	1.7yrs
Eigendom CEO	4.2%
Management gemiddelde ambtstermijn	1.7yrs
Gemiddelde ambtstermijn bestuur	less than a year

Naam	Positie	Tenure	Compensatie	Eigendom
Robert Orr	Company Secretary	16.6yrs	AU$97.03k	0.0020% A$ 180.1
Simon Coyle	MD & Director	1.7yrs	geen gegevens	4.24% A$ 374.6k
Paul Hughes	Chief Financial Officer	less than a year	geen gegevens	geen gegevens

Naam	Positie	Tenure	Compensatie	Eigendom
Simon Coyle	MD & Director	1.2yrs	geen gegevens	4.24% A$ 374.6k
Warrick Clent	Director	less than a year	geen gegevens	0.41% A$ 36.0k
Robert Curtis	Director	less than a year	geen gegevens	0.68% A$ 60.0k
Scott Williamson	Non-Executive Director	1.5yrs	AU$11.25k	2.13% A$ 188.1k

Gegevens	Laatst bijgewerkt (UTC-tijd)
Bedrijfsanalyse	2026/09/10 10:25
Aandelenkoers aan het einde van de dag	2026/09/10 00:00
Inkomsten	2025/12/31
Jaarlijkse inkomsten	2025/06/30

Pakket	Gegevens	Tijdframe	Voorbeeld Amerikaanse bron ^*
Financiële gegevens bedrijf	10 jaar	Resultatenrekening Kasstroomoverzicht Balans	SEC-formulier 10-K SEC-formulier 10-Q
Consensus schattingen analisten	+3 jaar	Financiële prognoses Koersdoelen analisten	Onderzoeksrapporten van analisten Blue Matrix
Marktprijzen	30 jaar	Aandelenprijzen Dividenden, splitsingen en acties	ICE Marktgegevens SEC-formulier S-1
Eigendom	10 jaar	Top aandeelhouders Handel met voorkennis	SEC-formulier 4 SEC-formulier 13D
Beheer	10 jaar	Leiderschapsteam Raad van bestuur	SEC-formulier 10-K SEC-formulier DEF 14A
Belangrijkste ontwikkelingen	10 jaar	Bedrijfsaankondigingen	SEC-formulier 8-K

Corazon Mining Beheer

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