New Risk • Mar 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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$881k free cash flow). Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 80% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.32m market cap, or US$926.5k). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Feb 23
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$8.2m free cash flow). Earnings have declined by 83% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.97m market cap, or US$2.95m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (5.4% increase in shares outstanding). Announcement • Nov 29
Tearlach Resources Channel Samples Up to 4.04 % Li2o over 0.70 M on Georgina Properties Tearlach Resources Limited announced that have received the assay results from the channel samples cut on Riches Spodumene Pegmatite, Parks Lake, Georgina Properties, Northwestern Ontario. Fifteen channel samples were cut over 3 channels on the pegmatite as a follow-up on spodumene discovery. The assays confirm the high-grade lithium mineralization on the spodumene pegmatite and justify the upcoming drill program. Riches Pegmatite is open along strike of the peninsula and down dip. The north end of channel GS-CH-23-03 is coarse-grained spodumene covered by overburden and tree roots. A test pit dug by hand 7 m northeast of channel GS-CH-23-03 discovered more coarse-grained green spodumene beneath overburden. Mechanical stripping is required to fully expose the spodumene mineralization on Riches Pegmatite. Rare-element mineralization in the Parks Lake area extends along a 2.6 km strike length. This 2.6 km rare-element pegmatite zone has seven pegmatite dykes with beryl, Nb-Ta-oxides and muscovite books indicators suggesting that more spodumene pegmatites will be found. Riches Pegmatite on Georgina Properties has excellent infrastructure as it is: Located 23 km from the Trans Canada Highway #11 and a power line, Located 930 m from Camp 51 Roads and is accessible by road and boat. 250 km from year-round port on the Great Lakes and transportation hub in Thunder Bay. Tearlach Resources has submitted a drill permit application to the Ontario Ministry of Mines and expects approval in First Quarter 2024. Riches spodumene pegmatite has an exposed width of 12 m and length of 9 m with crystals up to 70 cm long. The spodumene pegmatite is hosted by coarse-grained biotite-muscovite granite. The pegmatite has 3 spodumene-rich zones: green spodumene zone, blue spodumene zone and inner core zone with abundant very coarse-grained green spodumene crystals. Tearlach submitted to Actlabs a total of 452 samples of which 437 were grab samples and 15 were channel samples. The grab samples were delivered by Tearlach geologists to Actlabs, Geraldton or Thunder Bay preparation labs. Samples were assayed by Actlabs, Ancaster analytical lab, which is an ISO 17025 accredited laboratory. The samples were digested using lithium metaborate/tetraborate fusion and assayed by ICP-OES and ICP-MS for whole rock major oxides and trace elements (i.e., 4Litho-Pegmatite Special package). Li2O % was digested using sodium peroxide fusion and assayed using ICP-OES. Actlabs inserted standards, blanks, pulp duplicates and prep duplicates into the sample stream. Tearlach inserted one lithium external standard and one blank into the sample stream for every 20 samples. The external standards are OREAS 147 and OREAS 148, and the external blank is quartz chips. All standards and blanks passed a Quality Control review. Julie Selway, Ph.D., P.Geo. supervised the preparation of the scientific and technical information that formed the basis for the written disclosure in this news release. Dr. Selway is the VP of Exploration for Tearlach Resources and the Qualified Person as defined by National Instrument 43-101. 
