NeoTerrex Acquires 100% Interest in Reservoir Project in Québec

NeoTerrex Minerals Inc. has entered into a definitive agreement to acquire 100% interest in the copper-gold-silver-tungsten Reservoir Project in Québec, Canada. This move marks a significant addition to NeoTerrex's exploration portfolio in the region.

The Reservoir Project, located in the Eeyou Istchee (James Bay) region, spans approximately 6,090 hectares and is part of the Eastmain Greenstone Belt. It hosts multiple copper-gold (Cu-Au) occurrences, with notable historical drilling results. The C52 Zone, a series of sub-parallel mineralized gold/copper zones, has been traced for about 1.6 kilometers along strike. Historical drilling in this zone returned broad mineralized intervals, including 1.79 grams per tonne (g/t) of gold over 21.0 meters and 11.5 g/t of gold over 1.5 meters.

Additionally, channel sampling in the Mitlin Zone revealed high-grade copper-gold-silver (Cu-Au-Ag) results, with values up to 8.15% copper, 13.17 g/t gold, and 45.9 g/t silver over 1.0 meter. The project has seen little recorded work since 2013, with most drilling completed between 1985 and 1997. The historical drilling during this period, conducted during a period when gold averaged approximately US$368 per ounce, an exceptionally low price compared to today, suggests that the project may warrant a fresh look through modern exploration techniques.

NeoTerrex can earn a 100% interest in the Reservoir Project by making aggregate cash payments of $500,000 and incurring $3.0 million in exploration expenditures through December 31, 2030. The project includes 116 mineral claims, and the company plans to systematically advance the exploration of the C52, Mitlin, QET, Bear Island, Cyr, and Barrage mineralized zones. The company has initiated the permitting process for future exploration activities and intends to advance the project toward a winter drilling program.

The Reservoir Project, which dates back to the late 1960s, has seen several discoveries, including the C52 Zones, the Mitlin Zone, and the Bear Island occurrence. The C52 Zones, in particular, remain open along strike and at depth, while the Mitlin Zone, discovered in 1997, is a high-grade Cu-Au-Ag occurrence located approximately 1,400 meters southwest of the C52 Zones. The Bear Island occurrence, comprising a felsic-dominated volcanic sequence, contains anomalous copper and zinc mineralization, and the Cyr Zone, located west of the Bear Island horizon, remains relatively underexplored.