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Borealis Mining Announces Updated NI 43-101 Preliminary Economic Assessment for the Sandman Gold Project Highlighting Strong Stand-Alone Economics, ADR-Enabled Capital Efficiency and Substantial Leverage to Gold Prices
Base Case NPV(6%) of US$203 million with 105% IRR at US$2,600 gold Vancouver, British Columbia--...
About this update from Borealis Mining Company Limited
[{"type":"text","content":"Borealis Mining Announces Updated NI 43-101 Preliminary Economic Assessment for the Sandman Gold Project Highlighting Strong Stand-Alone Economics, ADR-Enabled Capital Efficiency and Substantial Leverage to Gold PricesBase Case NPV(6%) of US$203 million with 105% IRR at US$2,600 goldVancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - Borealis Mining Company Limited (TSXV: BOGO) (OTC Pink: BORMF) (FSE: L4B0) (\"Borealis\" or the \"Company\") is pleased to announce the results of an updated preliminary economic assessment (\"PEA\") for the Sandman Gold project (\"Sandman\" or the \"Project\") located in Humboldt County, Nevada, USA. All dollar amounts in this press release are in United States dollars unless indicated otherwise.The updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") technical report reflects updated economic assumptions following Borealis' acquisition of the Project in March 2025 for approximately C$8.9 million and demonstrates substantial improvement in the economics of the Project relative to the 2023 PEA, while maintaining the same underlying mineral resource reported in 2021, which forms the basis of the updated PEA, together with the same mine plan, production profile, processing approach and metallurgical framework.Figure 1. Project location relative to Winnemucca, major transportation corridors, and nearby mines and infrastructure projects.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9344/284415_8419037874982a9d_001full.jpgThe updated PEA outlines a conventional open-pit, heap-leach gold operation with an approximately nine-year mine life, average annual production of approximately 38,000 ounces of gold, total life-of-mine production of approximately 340,000 ounces of gold and a low strip ratio of approximately 2.2 to 1. The Project is designed as a phased, capital-efficient development with rapid payback and operating characteristics consistent with similar Nevada heap-leach operations.The economic analysis contained in the updated PEA is based on the Mineral Resource Estimate for the Sandman Project originally reported in 2021. The PEA includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be...