New Risk • Mar 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.3m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 7.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$7.40m market cap, or US$5.39m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • Jan 22
Etruscus Resources Corp. Advances Hendrix Rare Earth Element Target At Pheno Property Etruscus Resources Corp. reported surface rock sampling results from its 2025 exploration program at the Hendrix Rare Earth Element ("REE") Target on the Pheno Property, located immediately to the north of the Company's 100%-owned Rock & Roll Property in British Columbia's prolific Golden Triangle. Highlights: A total of 83 rock samples were taken across the approximately 5 km wide peralkaline volcanic complex returning the 3 highest grade REE rock samples1 to date at Pheno; Assays have demonstrated significant enrichment in neodymium and dysprosium, two of the most sought-after REE due to their unique magnetic properties and use in electric motors; These results build on the 2024 program by advancing the understanding of grade distribution and outlining a number of REE-bearing dikes; A 4 m wide by 70 m long dike (remaining open where it plunges beneath ice) returned an average of 0.39% Total Rare Earth Oxides2 ("TREO") from 6 grab samples; Continued research confirms that the closest analogues deposit is Round Top located in Texas, owned by USA Rare Earths with a market capitalization of over USD 2 billion; The Hendrix target contains a significantly above average ratio (0.30) of Heavy REEs versus Light REEs3. Heavy REEs are scarcer globally, critical for modern technologies, and economically more significant; and An increased appetite for critical minerals from North American sources is becoming evident through multiple government-backed initiatives and tightening Chinese export restrictions. Select samples were also analyzed by whole-rock geochemistry (major elements), supporting lithological classification and indicating a unique, highly evolved felsic system characterized by silica-rich compositions and elevated total alkalis. Geochemical interpretation identifies a positive relationship between Zr and TREO, suggesting that zirconium-bearing accessory phases--and potentially allanite, monazite, and apatite-- may be key hosts or indicators associated with REE enrichment. Magmatic fractionation is interpreted to have played an important role in concentrating REEs, supported by systematic increases in TREO with fractionation indices (Rb/Sr and Zr/TiO2). Petrographic work completed on four samples, primarily from the higher-grade dikes, describes quartz-phyric felsic volcanic rocks with a fine-grained quartz-alkali feldspar groundmass, variably altered to clay/sericite. New technology was implemented in 2025 using a handheld Geiger counter that provided real time feedback of detecting gamma rays emitted due to the decay of uranium and thorium in the REE bearing host rocks. This allowed the team to identify new REE rich dikes while completing geological traverses. The team looks forward to applying this technology across larger parts of the target in the future and is also evaluating airborne radiometric surveys that could be very useful in isolating further zones of high grade REE mineralization. REE mineralization. REs remain strategically important to global supply chains due to their role in technologies such as permanent meters for electric vehicles, wind turbines, advanced electronics, and defence applications. Demand is expected to grow, while new discoveries and development timelines remain constrained by permitting, technical complexity, and long lead times from exploration through to potential production. Announcement • Nov 26
Etruscus Resources Corp. Reports Results from Its 2025 Diamond Drill Program At the Zappa Porphyry Target Etruscus Resources Corp. reported results from its 2025 diamond drill program at the Zappa Porphyry Target, a high-priority copper-gold porphyry prospect located on the Company's 100%-owned Rock & Roll Property in British Columbia's prolific Golden Triangle. The inaugural program totalled 1,311 metres ("m") across three drill holes and was successful in advancing the Company's understanding of the system, vectoring closer to a potential mineralized porphyry intrusion. Drilling focused on a large surface alteration and chargeability anomaly, intersecting intensely altered volcanic and sedimentary rocks with zones of potassic alteration. Geochemical and alteration patterns indicate that hole RR25-03 was nearest to the heat source, suggesting that the porphyry intrusion may lie to the northeast, beneath the Twin Glacier where further drilling is warranted. The discovery of this alteration extends the Bronson Porphyry Trend onto the Property and greatly increases its prospectivity. Highlights: Hole 3 returned the strongest porphyry indicators with elevated molybdenum assays and identification of potassic feldspar alteration associated to sericite veining. Intense quartz-sericite-pyrite (QSP) alteration was encountered in every hole, highlighting the strength and size of the hydrothermal system. North Gossan mapping, located 1 km north of Zappa, suggests the same hydrothermal system extends over a much larger footprint; and Newly identified quartz-sulphide veins near North Gossan returned up to 20.1% Pb,13.9% Zn, and 0.6% Cu. These samples could represent distal polymetallic and base metal veins related to a porphyry intrusion and further reinforce this area as a porphyry center. Identification of propylitic alteration between the North Gossan and the Zappa further backs up this hypothesis. Next Steps: Etruscus plans to expand drilling north-eastward beneath the Twin Glacier, where geochemical and alteration veins point to a concealed porphyry intrusion. Follow-up mapping and geophysics will also continue at North Gossan to define additional drill targets. 
