NINE MILE METALS LTD - VMSXF STOCK NEWS

Nine Mile Metals has provided an update on its California Lake advanced geophysical program, conducted by EarthEx Geophysical Solutions Inc. The company completed a Time Domain Electromagnetic (TDEM) survey over a high-priority target area, identifying four strong priority targets (A-D) and four medium priority targets.

Key findings include:

• A total of 18.2-line kilometers were surveyed at a line spacing of 200 meters
• Target A: A deep, strong conductor with the top of the plate at approximately 590 meters below surface
• Target B: A strong conductor located on the northeast end of extension sections, with the top approximately 65 meters below surface
• Target C: A deep, large, moderate to strong plate, with the top at 500 meters depth
• Target D: A shallow, strong conductor at a depth of 100 meters

The company has mobilized a drill rig to further explore these promising targets in the Bathurst Mining Camp.

Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has announced the initiation of its Phase 2 drill program on the Wedge VMS Project. The company has engaged Les Forages Chapais from Sussex, N.B. to drill up to 2,000 metres. Chapais is currently mobilizing the drill rig from California Lake to the Wedge Property, with drilling expected to commence by the weekend.

This development marks a significant step in Nine Mile Metals' exploration efforts, potentially impacting its mineral resource assessment and future prospects. The Phase 2 program follows previous exploration activities and may provide valuable insights into the property's mineralization potential.

Nine Mile Metals (OTCQB: VMSXF) has completed four Bore Hole Electromagnetic (BHEM) Surveys at its California Lake and Wedge VMS Projects. While results from California Lake are pending, the Wedge Project surveys revealed significant mineralized zones. EarthEx identified new target plates at Wedge Target #1, recommending further drilling to intersect these zones. The surveys also confirmed the presence of copper-dominant VMS mineralization across multiple drill holes, suggesting substantial exploration potential. Going forward, Nine Mile plans to mobilize drills to target these areas and awaits additional data from EarthEx’s geophysical analysis.

Nine Mile Metals (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) has amended its private placement financing announced on August 30, 2024. The company now plans to raise up to $250,000 by offering up to 5,000,000 units at $0.05 per unit. Each unit consists of one common share and half a warrant, with each whole warrant allowing the purchase of one common share at $0.08 for 24 months.

Finders may receive a 7% cash commission and 7% warrants. The proceeds will be used for operating expenses, including legal and audit fees, and general working capital. Securities issued will have a four-month and one-day hold period.

Nine Mile Metals (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) has announced its intention to complete a private placement to raise up to $250,000. The company plans to issue up to 6,250,000 units at $0.04 per unit. Each unit comprises one common share and half a warrant, with each full warrant allowing the purchase of an additional common share at $0.08 within 24 months of issuance.

Finders may receive a 7% cash commission and 7% warrants for introducing subscribers. The proceeds will be used for operating expenses, including legal and audit fees, and general working capital. All securities issued will be subject to a four-month and one-day hold period.

Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has provided an update on its Western Portfolio Advanced Geophysical Summer 2024 Exploration Program in the Bathurst Mining Camp, New Brunswick. Key highlights include:

1. Completion of three Bore Hole Electromagnetic (BHEM) surveys at the Wedge Project and one at California Lake.
2. Initiation of ground-based Time Domain Electromagnetic (TDEM) surveys at Wedge and California Lake.
3. Progress on a 1,400-line kilometer UAV drone magnetic survey, with 72% completion.
4. Preliminary results indicating moderate to strong conductors in several drill holes.
5. Les Forages Chapais drill rig on-site, awaiting final drill target processing.

The company is now awaiting final results, interpretation, and 3D modeling to identify and prioritize drill targets for the upcoming Phase 2 Drill Program.

Nine Mile Metals announced the results of drill holes WD-24-05 and WD-24-06 at the Wedge VMS target in Bathurst Mining Camp, New Brunswick. Highlights include intersections of copper, zinc, gold, and silver. WD-24-05 revealed four distinct zones of mineralization, with the highest copper equivalent (Cu-Eq) value at 1.40%. Drill hole WD-24-06 intersected copper-dominant mineralization with a maximum Cu-Eq value of 1.96%. The results indicate strong continuity of copper mineralization, with potential for sizable deposit expansion. Future surveys and drilling are planned to further explore the deposit's extent.

Nine Mile Metals has initiated an advanced geophysics program at its California Lake and Wedge VMS projects. Partnering with EarthEx Geophysical Solutions, the venture includes a 1400-line-kilometer UAV drone survey covering high-priority targets, coupled with advanced borehole and ground-based electromagnetic surveys.

The UAV survey will utilize cutting-edge technology for 3D subsurface modeling. EarthEx's proprietary systems aim to provide precise data to enhance drill target identification. This initiative is poised to improve structural definitions critical for mining operations.

The program is supported by the New Brunswick Junior Mining Assistance Grant, aiding Nine Mile Metals in refining its exploration strategies. The initiative marks a significant step in advancing the projects and prioritizing drill targets to optimize future drilling efforts.

Nine Mile Metals has announced certified assay results for drill hole WD-24-03 at The Wedge VMS Drill Target in Bathurst Mining Camp, New Brunswick. The drill hole intersected mineralization over 32.10m with a copper equivalent (Cu-Eq) of 1.58%. Notable sections include 16.15m at 2.60% Cu-Eq and 8.15m at 3.61% Cu-Eq. The assays revealed 0.60% Cu, 0.70% Pb, 1.98% Zn, 0.21 g/t Au, and 17.03 g/t Ag. Distinct zones included a Cu zone with 1.06% Cu, 1.17% Pb, and 2.97% Zn over 16.15m, and a Pb/Zn zone with 0.95% Cu, 2.29% Pb, and 5.80% Zn over 8.15m. Assays were processed by ALS Laboratories with stringent QAQC protocols.