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Mercator Property

From a small Gold-Rich Sample to a large Gold-bearing Corridor

MERCATOR

Mercator Property – Northern Quebec’s Newest Gold Discovery

Sulphide-rich rocks found at surface across a 500m x 3.6 km wide mineralized corridor (the Meridian Zone).

From a small Gold Rich Sample to a Large Gold Bearing Corridor

MERCATOR HIGHLIGHTS

Large-Scale Gold Potential | District Size 100%-Owned Property – 1,095 claims (561 km²),| Represents 1.2 times the surface of the island of Montreal.

The Meridian Zone displays shallow dipping mineralized slabs along a ridge bounded by important low angle thrust faults. It is mineralized in pyrrhotite, pyrite, arsenopyrite/löllingite and chalcopyrite.

• The system at Mercator appears to continue for many kilometers past the Meridian Zone
• Acquired 5x land position in 2021 after a successful field campaign (property-wide magnetic survey and extensive sampling)
• First-ever drilling phase completed during the summer of 2022
• The drilling has confirmed an important gold mineralized system extending at least 1.7km X 500 m to a depth of 200 m

The best core intercepts:
• 17.8 m @ 2.62 g/t Au m, incl. 5.6m @ 4.87 g/t Au (Hole MCT22-08)
• 9.75 m @ 1.13 g/t Au, incl. 1.70 m @ 3.21 g/t Au (Hole MCT22-11)

Hole MCT22-08 providing the best gold intersection was the only hole drilled under a 500 m x 200 m area characterized by high chargeability values where most of the surface high gold assays were obtained in grab and channel samples. (Figure 1). Stelmine intends to focus its upcoming drilling campaign on this particular sector.

Mercator Exploration Campaigns 2020-2021

The mineralization was discovered along a minimum of 2.5 km length inside 5 to 20 m thick layers/slabs of mafic rocks dipping 30°-40° to the NW.

Gold mineralization occurs within faulted and folded granulite facies mafic rocks (basalts and gabbros) and iron formations (?) interlayered with a thick assemblage of migmatized paragneiss forming a large sedimentary basin within the La Grande/Opinaca subprovinces. Löllingite/arsenopyrite, pyrrhotite, pyrite, and chalcopyrite are the principal sulphide minerals associated with gold.

Some gold assay results of channel samples collected (2021) from the Meridian Zone, yielded 22 channel sites carrying significant gold values such as 2.07 g/t Au over 27.5 m, 2.16 g/t Au over 16.0 m and 2.13 g/t Au over 12.5 m

2022-Exploration campaign

• A 25 km IP survey was completed on the Meridian Zone
• Detailed geological and structural mapping and additional rock, channel and till sampling in the Meridian Zone
• Collecting samples in previously identified potential target areas in the rest of the property
• A 2000m drilling campaign.
• 5 of the 13 drillholes yielded significant intersections with gold values > 1.0 g/t ranging from 1.45 to 17.80 m in apparent thickness and depths varying from 26 to 194 m (Table 1).

We acknowledged only 6 % of the Mercator property underwent systematic exploration and sampling; leaving a lot of high potential terranes to investigate. For instance, several high chargeabilty/low resistivity anomalies northwest of the Meridian zone still need to be drilled.”

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