Callinex Mines - CLLXF STOCK NEWS

Callinex Mines (CLLXF) has outlined four high-priority near-surface target areas for its 2025 exploration program in the Flin Flon Mining District of Manitoba. The program focuses on expanding historic high-grade copper and gold deposits at the consolidated Pine Bay Camp.

The Visionary Target Area features the Leo deposit with historical results including 5.33% Cu over 3.05m and a flanking gold system showing up to 140.7 g/t Au over 0.40m. The historic Leo deposit contains an inferred mineral inventory of 192,292 metric tonnes at 2.29% Cu and 0.91% Zn above the 500-foot level.

Other target areas include: the General Target Area with gold results up to 204.86 g/t Au over 1.62m; the Amulet Target Area with results up to 2.38% Cu and 4.5% Zn; and the Blueberry Target Area showing promising indicators of VMS mineralization. The company plans to use modern exploration techniques including BPEM surveys to better define these targets.

Callinex Mines (OTCQX: CLLXF) has submitted an Advanced Exploration Permit (AEP) application for its Rainbow deposit at Pine Bay Camp, located 16km from Flin Flon, MB. The permit will enable a 10,000 tonne bulk sample for metallurgical testing and future underground exploration.

The Rainbow deposit's maiden mineral resource estimate from July 2023 includes:

• Indicated Resource: 3.44 Mt at 3.59% CuEq containing 272.4 Mlb CuEq
• Inferred Resource: 1.28 Mt at 2.95% CuEq containing 83.4 Mlb CuEq

The company has completed environmental baseline studies and engineering work for ramp construction, working with AECOM and Tala Consulting. The AEP is a important step toward obtaining an environmental license for full-scale production.

Callinex Mines (OTCQX: CLLXF) has announced results from its recent 3,284m exploration drilling campaign at the Pine Bay Camp in Manitoba's Flin Flon Mining District. The program focused on three target areas: Poseidon, Descendent, and Blueberry.

Key findings include:

• Drill hole BLU-111 at Blueberry intersected 4.1m of sphalerite mineralization at 195m depth, indicating potential proximity to high-grade VMS deposits
• Descendent step-out drilling (DSC-113) yielded 6.46m of 0.47% CuEq, including 0.21m of 7.22% CuEq with high-grade gold, silver, and zinc
• Poseidon target drilling identified a highly conductive category 'A' off-hole anomaly associated with the Rainbow horizon

The company plans to focus future exploration efforts on Blueberry and nearby shallow high-priority targets. Additionally, Callinex has engaged ICP Securities for automated market making services at C$7,500 per month for an initial three-month term.

Callinex Mines (TSXV: CNX) (OTCQX: CLLXF) has released its 2024 annual shareholder letter highlighting key achievements and future plans. The company completed critical engineering work on the Rainbow and Pine Bay deposits and prepared for an Advanced Exploration Permit submission expected by Q1 2025.

The Rainbow deposit shows an Indicated Mineral Resource of 3.44 Mt at 3.59% copper equivalent and Inferred Resource of 1.28 Mt at 2.95% CuEq. The Pine Bay deposit has an Inferred Resource of 1.0 Mt at 2.62% Cu. Despite wildfire damage to facilities and stored core samples, exploration continued at the Descendent discovery through geophysics and step-out drilling.

The company doubled its Pine Bay land package to approximately 120 square kilometers through staking and the Albert's Lake agreement. Teck Resources became a shareholder after terminating their back-in provision. Copper prices remain above $4.00/lb, with positive market outlook for both base and precious metals in 2025.

Callinex Mines has announced a significant agreement with Teck Resources and Voyageur Mineral Explorers regarding the Alberts Lake Property in Manitoba. Teck has agreed to terminate its back-in right, which previously allowed it to acquire up to 90% of certain mineral claims. As compensation, Callinex will issue 150,000 common shares and 75,000 share purchase warrants to Teck, with warrants exercisable at $2.00 per share for two years.

Additionally, Teck will receive a C$1,000,000 cash payment if a decision is made to begin mine construction at Alberts Lake. In a separate amendment with Voyageur, Callinex has removed the final C$150,000 common share payment originally due on the fourth anniversary of their Option Agreement.

Callinex Mines provides an update on its 2024 exploration campaign at the Pine Bay Project in Manitoba. The company completed an 802m drill hole (PBM-197) at the Poseidon target area and is currently drilling a step-out hole (DSC-113) at the Descendent discovery, targeting a depth of 1,900m. The Descendent's alteration package is notably ten times larger than the nearby Rainbow deposit's package. The Project spans 11,859 hectares with access to infrastructure including hydroelectric power and three base metal concentrators within trucking distance. Initial assay results are expected in early Q1 2025.

Callinex Mines (TSXV: CNX) (OTCQX: CLLXF) has commenced its 2024 exploration campaign at the Pine Bay Project in Manitoba's Flin Flon Mining District. The 5,000m drilling campaign will target areas including Poseidon, Descendent, Odin, and Ra. Key points:

- Testing Poseidon with a 500m drill hole, located 1,300m north of Rainbow deposit
- 350m step-out planned for Descendent discovery
- Project spans 11,859 hectares with access to infrastructure
- Recent MT survey revealed large resistivity anomaly at Poseidon
- Descendent discovery hole DSC-111 returned 7.14m at 1.70% CuEq
- Alteration zone at Descendent spans 1,100m by 700m

The company aims to expand its high-grade copper resource at Pine Bay through this campaign.

Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) has closed an option agreement with Voyageur Mineral Explorers Corp. to acquire a 100% interest in the Alberts Lake Project in Manitoba. The agreement involves share issuances totaling $650,000 over four years, with the option to pay in cash instead. Upon acquisition, Voyageur will receive a 1.5% net smelter return royalty, of which 0.5% can be repurchased for $500,000.

The deal includes considerations for existing rights and royalties on portions of the claims. Callinex's portfolio also includes the Rainbow deposit at the Pine Bay Project in the Flin Flon Mining District, the Nash Creek Project in New Brunswick, and the Point Leamington Deposit in Newfoundland, all located in established Canadian mining jurisdictions.

Callinex Mines (TSXV: CNX) (OTCQX: CLLXF) has closed an oversubscribed private placement financing of $2,094,409, exceeding the original target by $594,409. The financing includes:

1) 753,412 hard dollar units at $1.25 per unit, raising $941,765
2) 543,700 Manitoba flow-through units at $2.12 per unit, raising $1,152,644

Each unit includes one common share and half a warrant, exercisable at $2.00 for two years. The flow-through funds will be used for Canadian exploration expenses at the Pine Bay Project, Manitoba. Hard dollar proceeds will support working capital and general corporate purposes. An insider participated, subscribing for 20,000 hard dollar units.