New Risk • 23h
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. 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$3.4m free cash flow). Earnings have declined by 1.9% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$46.4m market cap, or US$32.9m). Announcement • Jul 21
Getchell Gold Corp. Announces Preliminary Economic Assessment for Fondaway Canyon Gold Project Getchell Gold Corp. announced highly robust results from the independent Preliminary Economic Assessment ("PEA") completed on the Company's 100%-owned Fondaway Canyon gold project ("Fondaway Canyon" or "Project") in Nevada. Based on mineral resources drilled to date and limiting the scope of the PEA to the mineral resources in the Central Area of the Project, the PEA outlines an open pit mining and conventional 12,000 tonne per day ("tpd") milling operation with an initial planned mine life of approximately 10 years. The PEA contemplates the production and sale of a high-grade concentrate to a 3rd party refinery for pressure oxidation or roasting followed by cyanidation to produce doré. PEA Overview and Financial Analysis: The PEA contemplates an open pit operation using contract mining and processing 4.1 million tonnes per annum ("mtpa") or 12,000 tonnes per day. The mill feed will be trucked from the open pit in the Central Area, accounting for approximately 68% of the global mineral resource currently defined at Fondaway Canyon. The PEA demonstrates strong margins, rapid payback and significant free cash flow generation with the Base Case reporting Pre- and Post-Tax NPV8% of $1,004 and 905 million respectively. This represents a substantial >60% increase compared to the previously published PEA ("2025 PEA") (refer to Company news release dated February 7, 2025) attributable to a simplified process flow sheet, increased annual throughput and higher gold price. Sensitivity analysis reveals a strong leverage to gold price with a High Case post-tax NPV of approximately USD 1.5 billion and an IRR of approximately 85%, while maintaining the same mine plan and operating assumptions. Mine Plan and Minable Resource Estimate: The open pit optimization model yielded a series of nested pit shells that prioritize the extraction of the most economically viable and most economically robust material. The mine will be developed in consecutive phases to manage the operating stripping ratio and to provide consistent mill feed. The pit shell selected as the optimal pit shell contains a total tonnage of 339.1 Mt including 18.8 Mt of Indicated Mineral Resource at 1.46 g/t, and 24.1 Mt of Inferred Mineral Resource at 1.32g/t to be processed for 1.90 Moz of contained gold, representing a 28% increase compared to the 2025 PEA. The production schedule is based on a nominal rate of 12,000 t/d processed (4.2 Mt/y) and the average LOM stripping ratio is 6.9:1 waste-to-processed material, using a 0.41 g/t Au cut-off grade. Metallurgical Testing and Recoveries: A conceptual flotation plant was designed, with the facility processing oxide and sulfide mineralization. The PEA utilized recoveries estimated across the material types for an average gold recovery to concentrate of 84%, with 80% recovery to sold metal. Additional metallurgical test work is recommended for Fondaway Canyon to optimize the grind size, the open circuit flotation process, and to define the dry stack tailings process and cost. Mineral Processing: A processing throughput of 12,000 tpd was selected aimed at maximizing gold recovery in conjunction with minimizing concentrate mass pull (which must be confirmed with additional test work), and on minimizing capital expenditure and operating costs. The process flowsheet will consist of three stages of crushing followed by ball mill grinding, rougher flotation, and three stages of cleaner flotation in open circuit to produce high-value concentrate. The cleaner flotation tailings will be combined and fed to gravity concentration. The gravity concentrate will be combined with the flotation concentrate and gravity tailings will be combined with rougher tailings, filtered, and dry stacked. The reagents, namely xanthate, AP 404 and AF 65 will be added to the mill. A review of the CAPEX and OPEX for various processing options indicated that the most promising approach at this stage of the study is to produce a gold-rich concentrate (± 20 g/t Au) and ship/sell it to a processing facility in Nevada. Post final processing, it is estimated that the mine plan will recover 1.52 million ounces gold over a 10-year life of mine ("LOM") with average annual gold production of 150,000 oz representing a 28% increase compared to the 2025 PEA. 
