Announcement • Aug 29

Callinex Mines Inc. Files Technical Report Regarding its High-Grade Mineral Resource Estimate and Provides Exploration Update at its Pine Bay Project in Manitoba

Callinex Mines Inc. announced that it has filed on SEDAR a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to support the high-grade copper maiden mineral resource estimate for its 100% owned Pine Bay Project in Manitoba, previously announced in the Company's news release dated July 10, 2023. The Technical Report titled "NI 43-101 Technical Report – Pine Bay Project – Flin Flon, Manitoba" dated August 24, 2023 was prepared by Kirkham Geosystems Ltd. for the Company. The mineral resource estimate, contained within the mineral lease, consists of the Rainbow deposit with an Indicated Mineral Resource of 3.44 Mt at 3.59% copper equivalent ("CuEq") containing 272.4 Mlb CuEq (comprised of 238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an Inferred Mineral Resource of 1.28 Mt at 2.95% CuEq containing 83.4 Mlb CuEq (comprised of 72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 koz Ag, 0.8 Mlb Pb) and the Pine Bay deposit with an Inferred Mineral Resource of 1.0 Mt at 2.62% Cu containing 58.1 Mlb Cu. The Company's focus remains to continue its exploration campaign at depth and along the trend that hosts the deposits at Pine Bay. The technical team is eagerly awaiting the results from this ongoing drilling campaign. To date, the Company has drilled 6,455m of the previously announced fully-funded campaign. The Company is currently testing the high priority target on the Cabin and Pine Bay horizons as part of its 2023 exploration campaign. Callinex's first discovery in 2016 at the Project was at depth below the historic Cabin deposit which intersected 10.3m grading 6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb in drill hole 284-3-93-DPN. Additionally, drill hole PBM-024, one of the last holes completed in the vicinity, intersected 2.6m of 3.4% CuEq. The high-grade intervals at the Cabin horizon are associated with a major alteration zone that was previously identified at surface and spans 1,100m by 700m as supported by lithogeochemical data. Since the huge alteration zone seen at surface is believed to be structurally overturned, the exploration thesis is that the copper/zinc/gold/silver bearing massive sulphides associated with this fluid mineralizing event would be preserved at depth. Typically, there is a correlation between the size of an alteration zone and the size of the VMS deposit it is associated with. The exploration model for large VMS deposits within the Flin Flon Greenstone Belt, such as the Lalor and 777 deposits, includes having several smaller deposits in close proximity to a large alteration system within a felsic volcanic centre. The Company will announce drill results and plans for the continuation of this year's exciting exploration campaign once assays are received from the current drill hole. Additionally, the Company is grateful to have received a $500,000 grant from the Manitoba Mineral Development Fund to continue to advance the discoveries at Pine Bay. The MMDF was launched by the Manitoba government in 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF aims to support new economic development opportunities that capitalize on existing assets across Manitoba. Model Parameters and Methods for the Rainbow Deposit and Pine Bay Deposit Resource Estimates The database for the mineral resource estimate for Rainbow Deposit consisted of 104 drill holes (including 14 wedges) totalling 60930m, of which a total of 66 drill holes totaling 38,249m intersected the mineralization wireframes used for the mineral resource estimate. The drill hole database contained assays for copper, zinc, gold, silver and lead as well as other metals of no economic importance. The database for the mineral resource estimate for Pine Bay Deposit consisted of 131 drill holes totalling 25,672m, of which a total of 76 drill holes totaling 10,123m intersected the mineralization wireframes used for the mineral resource estimate. The drill hole database contained assays for copper only. In October 2022, Kirkham carried out data verification on the historical data and check sampling to validate the use of the database for estimation of the inferred resource at Pine Bay. The methodology employed for the resource estimation at Rainbow and Pine Bay is a follow: The estimate was carried out using separate block models constrained by 3D wireframes of the individual mineralized zones. The block model is comprised of an array of blocks measuring 10m x 2m x 10m which employ partial percentages for volumetric accuracy, with grades for Cu, Zn, Pb, Ag and Au interpolated using Ordinary Kriging within the Rainbow deposit and Inverse Distance to the Second Power (ID2) weighting for the Pine Bay deposit for copper grades. Copper equivalent values were subsequently calculated from the interpolated block grades. The second pass used a restricted search radii along strike and down dip of 60m x 60m and 30m perpendicular to dip. The second pass used a restricted search radii along strike and down dip of 60m x 60m and 30m perpendicular to dip. Composites were restricted to a minimum of 5 and a maximum of 16 composites, with a maximum of 4 composites from any one drill hole. Bulk density was determined on each sample submitted to SGS laboratories in Burnaby, BC measured by the gas pycnometer method on pulp samples. For each sample interval, sub-samples were taken from each individual length of core and the weighted average for the sample used. Density values were interpolated on a block-by-block basis using an inverse distance to the second power for the Rainbow deposit. An average value of 2.90 t/m3 was assigned to the Pine Bay Deposit. Composite values have been capped in order to remove the effects of potential overestimation due to statistical outliers. The mineralized domain solids were defined using a combination of geological constraints and grade boundaries in addition to consideration of potential reasonable mining thickness. Intervals that were not sampled were assigned a zero grade. For all zones, blocks are classified as Inferred if they are included within 150m of at least two drill hole intercept. Blocks within 40m of the nearest intercept and 40m average for all composites, estimated by at least four drill holes and at least 12 composites were classified as Indicated. However, an interpreted boundary is the final determination of indicated and inferred resources in order to remove outlier blocks and the "spotted dog" effect. In addition, continuous potentially underground mining shapes were created to demonstrate "reasonable prospect of eventual economic extraction.

CEO salary percentage	96.15%
CEO tenure	12yrs
CEO ownership	5.5%
Management average tenure	no data
Board average tenure	11.9yrs

Date	Total Compensation	Salary	Company Earnings
Mar 31 2026	n/a	n/a	-CA$722k
Dec 31 2025	n/a	n/a	-CA$838k
Sep 30 2025	CA$250k	CA$240k	-CA$918k
Jun 30 2025	n/a	n/a	-CA$931k
Mar 31 2025	n/a	n/a	-CA$1m
Dec 31 2024	n/a	n/a	-CA$1m
Sep 30 2024	CA$248k	CA$240k	-CA$1m
Jun 30 2024	n/a	n/a	-CA$1m
Mar 31 2024	n/a	n/a	-CA$1m
Dec 31 2023	n/a	n/a	-CA$1m
Sep 30 2023	CA$440k	CA$240k	-CA$1m
Jun 30 2023	n/a	n/a	-CA$1m
Mar 31 2023	n/a	n/a	-CA$663k
Dec 31 2022	n/a	n/a	-CA$117k
Sep 30 2022	CA$246k	CA$240k	CA$41k
Jun 30 2022	n/a	n/a	-CA$51k
Mar 31 2022	n/a	n/a	-CA$122k
Dec 31 2021	n/a	n/a	-CA$793k
Sep 30 2021	CA$400k	CA$200k	-CA$1m
Jun 30 2021	n/a	n/a	-CA$1m
Mar 31 2021	n/a	n/a	-CA$1m
Dec 31 2020	n/a	n/a	-CA$1m
Sep 30 2020	CA$184k	CA$171k	-CA$1m
Jun 30 2020	n/a	n/a	-CA$1m
Mar 31 2020	n/a	n/a	-CA$2m
Dec 31 2019	n/a	n/a	-CA$2m
Sep 30 2019	CA$212k	CA$168k	-CA$2m

Name	Position	Tenure	Compensation	Ownership
Max Porterfield	President	12.1yrs	CA$249.60k	5.5% $ 902.3k
Keith Minty	Independent Director	11.8yrs	no data	0.15% $ 24.0k
Peter Dimmell	Lead Director	less than a year	no data	no data
Michael Louie	Independent Director	12.7yrs	no data	0.82% $ 135.2k

Data	Last Updated (UTC time)
Company Analysis	2026/06/09 12:45
End of Day Share Price	2026/06/09 00:00
Earnings	2026/03/31
Annual Earnings	2025/09/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Visionary Copper and Gold Mines Management

Management criteria checks 2/4

Key information

Recent management updates

Visionary Copper and Gold Mines Inc., Annual General Meeting, Mar 19, 2026

Callinex Mines Inc Appoints Peter Dimmell to the Board of Directors as Lead Director on the Technical Committee

Callinex Mines Inc., Annual General Meeting, Dec 09, 2024

Callinex Mines Inc., Annual General Meeting, Dec 13, 2023

Recent updates

Visionary Copper and Gold Mines Inc., Annual General Meeting, Mar 19, 2026

Visionary Copper and Gold Mines Inc. announced that it has received CAD 3.040363 million in funding

Visionary Copper and Gold Mines Inc. announced that it expects to receive CAD 2.999999 million in funding

Visionary Copper and Gold Mines Inc. Expands Exploration Program At Pt. Leamington Deposit In Newfoundland

Callinex Mines Inc. Launches Osawi Gold Corp. to Advance Gossan Hill and Island Lake Gold Projects

Callinex Mines Inc Appoints Peter Dimmell to the Board of Directors as Lead Director on the Technical Committee

Callinex Mines Inc. Receives $150,000 Grant and Additional Exploration Permits for Point Leamington Project, Newfoundland

Callinex Mines Inc. Targets Expanding Historic High Grade Copper and Gold Deposits Near Surface in the Flin Flon Mining District, MB

Callinex Mines Inc. Provides Update of Its Continuing 2024 Exploration Campaign At the Pine Bay Project in the Flin Flon Mining District, Mb

Callinex Mines Inc., Annual General Meeting, Dec 09, 2024

Callinex Announces Commencement of 2024 Exploration Campaign at the Pine Bay Project Located in the Flin Flon Mining District, MB

Callinex Mines Inc. (TSXV:CNX) acquired Alberts Lake Project, Manitoba from Voyageur Mineral Explorers Corp. (CNSX:VOY) for CAD 0.65 million.

Callinex Mines Inc. announced that it has received CAD 2.094409 million in funding

Callinex Mines Inc. announced that it expects to receive CAD 1.5 million in funding

Callinex Mines Inc. Announces Preliminary Magnetotelluric Geophysical Survey Results at the Pine Bay Project, Flin Flon Mining District, MB

Callinex Mines Inc. Announces Magnetotelluric Geophysical Survey at Pine Bay Project, Flin Flon Mining District, MB

Callinex Mines Inc. Provides Results from the Recently Completed Drilling to Expand the New High-Grade Copper, Zinc, Gold and Silver Descendent Discovery At the 100% Owned Pine Bay Project Located in the Flin Flon Mining District of Manitoba

Callinex Mines Inc., Annual General Meeting, Dec 13, 2023

Callinex Mines Inc. Announces New High-Grade Copper, Zinc, Gold and Silver Discovery At the Company's 100% Owned Pine Bay Project Located Near Flin Flon, MB

Callinex Mines Inc. Files Technical Report Regarding its High-Grade Mineral Resource Estimate and Provides Exploration Update at its Pine Bay Project in Manitoba

Callinex Mines Inc. Announces High-Grade Copper Maiden Mineral Resource Estimate At Its Pine Bay Project in Manitoba

New minor risk - Shareholder dilution

Callinex Mines Inc. announced that it expects to receive CAD 7 million in funding

Callinex Mines Inc. Announces 2023 Exploration Targets at the Pine Bay Project Located in the Flin Flon Mining District, MB

Callinex Mines Inc. Receives Final Drill Assays and Awaits Maiden Resource Estimate on Rainbow Deposit Located in the Flin Flon Mining District, MB

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