T2 Metals Completes Winter Drill Program at Sherridon Copper-Gold Project, Manitoba and Earns 90%

Rhea-AI Summary

T2 Metals Corp (TSXV: TWO, OTCQB: TWOSF) has completed its winter core drilling program at the Sherridon copper-gold project in Manitoba, drilling 1,120 metres across four holes. The program focused on testing new near-surface areas using VTEM geophysical and geochemical targets.

With this completion, T2 Metals has achieved 90% ownership of the Sherridon project under the 2022 Option Agreement with Halo Resources. Halo can now choose to fund pro-rata or convert to a 1.5% net smelter royalty, which T2 can purchase for C$2,000,000.

Recent drilling results from 2023-2024 showed significant intersections including:

• SHN24014: 6.49m @ 1.82% Cu, 3.34% Zn, 0.74 g/t Au, 16.0 g/t Ag from 97.15m
• SHN23005: 23.50m @ 1.18% Cu, 1.46% Zn, 6.8 g/t Au and 40.4 g/t Ag from 38.00m

The project, located in the Flin Flon-Snow Lake District, features two past mines and five historical mineral resources, with over 30km of mineralized target horizon.

Positive

• Achieved 90% ownership of Sherridon project with no further expenditure commitments
• High-grade drilling results: 23.50m @ 1.18% Cu, 1.46% Zn, 6.8 g/t Au
• Large project scale with 30km of mineralized target horizon
• Infrastructure-rich location with historical mining operations

Negative

• Option for remaining 10% ownership remains with Halo Resources
• Potential future cash outflow of C$2M if royalty buyback is exercised

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2025) - T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E) ("T2" or the "Company") is pleased to announce completion of the winter core drilling program at the Sherridon copper-gold project in the Flin Flon-Snow Lake District of west-central Manitoba (Figure 1). A total of 1,120 metres in four holes were completed, utilizing frozen ground to simplify access and reduce impact. Sherridon includes two significant past mines and five historical mineral resources (see Press Release dated November 1 2024), all of which were discovered from surface exposures.

Holes tested combined geophysical (VTEM) and geochemical targets, with three holes testing new near surface areas away from historical mineral resources and prior drilling (Figure 2). T2 Metals has reprocessed combined geophysical datasets and see VTEM as a valuable exploration tool at less than 200m vertical depth.

Furthermore, completion of this drilling program has enabled T2 Metals to fulfill the expenditure milestones required to achieve a 90% ownership of the Sherridon project, as required under the Option Agreement signed with Halo Resources Ltd ("Halo") in 2022. No further expenditure commitment remains under the Option Agreement and Halo may now elect to fund pro-rata or convert to a 1.5% net smelter royalty that is purchasable by the Company for C$2,000,000 at any time.

Mark Saxon, CEO of T2 Metals Corp. commented, "We have now completed our planned winter drilling program at Sherridon and thank all involved for their support. We have utilized winter access to drill new target areas away from the five historical mineral resources and past mining areas. The program has allowed T2 Metals to achieve the next stage of the Option Agreement earn-in, and now own 90% of this exciting advanced copper-gold project. Results from the drilling program will be shared as they become available."

Sherridon is a high-grade volcanogenic massive sulphide ("VMS") project with a significant mining history and multiple copper-rich massive sulphide occurrences, in an infrastructure-rich location. Drilling by T2 Metals during 2023 and 2024 intersected high grade copper and gold over significant intervals at the Lost Lake and Cold Lake prospects including:

SHN24014 6.49 m @ 1.82% Cu, 3.34% Zn, 0.74 g/t Au, 16.0 g/t Ag from 97.15 m
(See press release dated 14^th December 2024)

SHN23005 23.50 m @ 1.18% Cu, 1.46% Zn, 6.8 g/t Au and 40.4 g/t Ag from 38.00 m;
(See press release dated 1^st March 2024)

Sherridon displays a large alteration system and more than 30 km of strike length of a mineralized target horizon with numerous massive sulphide deposits and occurrences. VMS systems in the Flin Flon - Snow Lake District, have equal prospectivity down dip as along strike.

The winter 2025 drilling program was supported by the Kiciwapa Cree First Nation and co-funding from the Manitoba Mineral Development Fund.

The qualified person for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.

About T2 Metals Corp (TSXV: TWO) (OTCQB: TWOSF) (WKN: A2DR6E)

T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Lida and Copper Eagle Projects in Nevada, and the Cora Project in Arizona.

ON BEHALF OF THE BOARD,

"Mark Saxon" Mark Saxon President & CEO

For further information, please contact: t2metals.com 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7 info@t2metals.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Location of Sherridon Project, Manitoba with competitor projects.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/246099_ace2b85e74006b40_002full.jpg

Figure 2: Location of Winter 2025 Drilling, Sherridon Project, Manitoba.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/246099_ace2b85e74006b40_003full.jpg

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. Such risks include uncertainties relating to exploration activities. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246099

FAQ

What drilling results did TWOSF report from its Sherridon copper-gold project in 2023-2024?

T2 Metals reported high-grade intersections including 6.49m @ 1.82% Cu, 3.34% Zn, 0.74 g/t Au, 16.0 g/t Ag and 23.50m @ 1.18% Cu, 1.46% Zn, 6.8 g/t Au and 40.4 g/t Ag.

How many meters did TWOSF drill in its Winter 2025 Sherridon program?

T2 Metals completed 1,120 metres of drilling across four holes in the Winter 2025 program.

What ownership percentage has TWOSF achieved in the Sherridon project?

T2 Metals has earned 90% ownership of the Sherridon project following completion of the winter drilling program.

What are Halo Resources' options after TWOSF achieved 90% ownership of Sherridon?

Halo can either fund pro-rata or convert to a 1.5% net smelter royalty, which T2 can purchase for C$2,000,000.

What is the scale of TWOSF's Sherridon project mineralization target?

The Sherridon project features over 30 km of mineralized target horizon with multiple copper-rich massive sulphide occurrences.