Announcement • Feb 10
Northcliff Resources Ltd., Annual General Meeting, Apr 23, 2026 Northcliff Resources Ltd., Annual General Meeting, Apr 23, 2026. Announcement • Feb 06
Northcliff Resources Ltd. Progress with Pre-Construction Programs for Sisson Project Northcliff Resources Ltd. provided an update on progress with the pre-construction phase work on the Sisson Project in New Brunswick, Canada. The Sisson Project hosts a large deposit of two critical minerals - tungsten and molybdenum. A feasibility study completed in 2013 proposed development as an open pit mine with conventional processing and a value-added ammonium paratungstate plant. Environmental Impact Assessment approvals were received from the provincial and federal governments in 2015 and 2017, respectively, followed by other key approvals. In 2025, the project received funding under US and Canadian critical minerals initiatives, including a USD 15 million ($20.7 million) award under the Defense Production Act ("DPA") Title III program and CAD 8.2 million in Canadian support provided through the Global Partnerships Initiative. With this funding in hand, Northcliff embarked on a focused program to advance the Sisson Project through the pre-construction phase. Activities conducted on the Company's focused pre-construction program include: Update to the 2013 feasibility study ("FS Update") and Front-End Basic Engineering work, including site investigation programs and additional metallurgical testwork. The FS Update is designed to provide the necessary economic and technical information to support a construction decision for the project. Initiated in the second quarter of 2025, the FS Update has included comprehensive review and verification of previous work as well as consideration and assessment of new approaches to optimize the mine development. Led by Ausenco Engineering Canada ULC, the work has involved a number of consultants and specialists. Completion is expected in mid-2026. Multiple engineering workstreams and studies required to meet the technical conditions associated with Northcliff's in-hand environmental approvals and support detailed project development planning. Following receipt of a field permit in October 2025, a site investigation program was initiated, including geotechnical drilling, test pitting and a geophysical survey to collect information on overburden and bedrock characteristics to support basic and detailed engineering and design work for the tailings storage facility design. This program is expected to be completed by the end of February 2026. Advancement of discussions on project finance and product offtake arrangements. Over the next quarter, work will continue to advance the FS Update, Front-End Basic Engineering, and EIA compliance workstreams. Planning and permitting is underway for the second phase of fieldwork to begin in the late spring of 2026 involving further geotechnical drilling and test pitting to collect additional data in the open pit area. Additionally, an archeological field program is being planned based on the results of previous work completed in 2015. Through engagement with the Province's Archaeology and Heritage Branch and the Wolastoqey Nation in New Brunswick, a Heritage Resource Protection Protocol is being finalized, setting the terms for training and mitigation activity associated with satisfying EIA conditions. The Company is also continuing its outreach with communities to discuss its work programs and to finalize an engagement plan for the potential operation at Sisson. Discussions with key potential Western offtake purchasers and engagement with potential project funding partners is ongoing. In addition, Northcliff is engaged in discussions with US and Canadian import-export credit agencies as part of its project finance workstream. The Company is also working with the Canadian Major Project Office to explore opportunities for their financial and regulatory assistance based on its referral as a Nation Building Project. Northcliff continues to engage with governmental organizations with the aim of securing financing and product marketing support. 
