Announcement • Jul 24

GPM Metals Inc. Reports Results from 2025 Drilling Campaign and Advances Exploration at Walker Gossan Project

GPM Metals Inc. provided an exploration update at its Walker Gossan Project in Australia's Northern Territory. Results from the Company's 2025 drilling campaign have significantly advanced its geological understanding of the Project, validating key elements of its exploration model and identifying an expanded structural corridor prospective for sediment-hosted zinc-lead-silver mineralization. The Company completed a 2,500-metre diamond drilling program across two priority gravity targets intersecting weak Zn, Pb, Ag mineralisation and ferroan dolomite alteration consistent with distal indicators of more significant sediment hosted massive sulphide mineralisation elsewhere in the basin. The Company mapped a highly prospective sediment hosted massive sulphide terrain defined by a major syn-sedimentary growth fault and an adjacent sub-basin depocenter extending over approximately 35 km of strike. The Company defined a basin architecture model providing a robust geological framework to guide future exploration and rank existing and future drill targets. The 190,000-hectare Walker Gossan Project, purchased from Rio Tinto, is located in East Arnhem Land NT, Australia within Australia's Proterozoic McArthur Basin, one of the world's premier sediment-hosted zinc-lead-silver districts. The Company's 2025 drilling program was designed to test two large gravity anomalies on EL 24305 identified from the 2023 Airborne Gravity Gradiometry survey and considered prospective for sediment-hosted massive sulphide mineralization. Five diamond drill holes, totalling more than 2,500 m, were completed. Drilling confirmed a consistent Proterozoic stratigraphic succession of the Balma Group comprising up to 155 m of Baiguridji Formation siliciclastic rocks overlying more than 500 m of Yarrawirrie Formation dolostones and siltstones. The deepest hole, WGD25003, additionally intersected over 200 m of shale, dolomitic siltstone and fine-grained sandstone interpreted to belong to the Zamia Creek Siltstone. Geochemical analysis of pyritic black shales within the Zamia Creek Siltstone in WGD25003 returned a mineralised interval of 5 m grading 0.63% Zn, 0.027% Pb and 0.64 g/t Ag from 781 m. Although sub-economic, the presence of zinc-lead-silver mineralization, together with associated ferroan dolomite alteration, represents an encouraging indication that hydrothermal fluids were active within the basin. The Zamia Creek Siltstone is interpreted to be the stratigraphic equivalent of the Barney Creek Formation, the principal host to the McArthur River (HYC) and Teena zinc-lead-silver deposits. The intersection of this favourable stratigraphic horizon confirms the presence of the key prospective host sequence within the Walker Gossan Project and provides an important geological framework for ongoing exploration. Recent basin architecture analysis, integrating Northern Territory Government and GPM geophysical data has identified a major growth fault that defines the boundary between the shallow-marine Walker River Shelf to the east and a transition zone to deeper-marine Walker River Trough to the west. These geological domains, together with the bounding Yarrawirrie Fault, represent a significant structural framework considered highly prospective for sediment hosted massive sulphide mineralisation. A review of the 2025 drilling results indicates the holes targeted a depocentre within the deepest part of the rift basin. Subsequent interpretation of the basin architecture has identified a series of reverse faults that may have uplifted prospective host stratigraphy to shallower, more accessible depths immediately east of the 2025 drill area. The Walker River Trough has now been mapped for more than 35 km of strike length within GPM's tenement package, substantially expanding the area considered prospective for sediment hosted massive sulphide mineralisation.

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GPM Metals Inc. Reports Results from 2025 Drilling Campaign and Advances Exploration at Walker Gossan Project

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