Thistle Resources Inc. · TSXV:TRCG
Thistle Resources — Investor Presentation (January 2025)
44 slides from Thistle Resources's investor presentation, January 2025
Slide 1: Precious Metals & Critical Minerals Exploration
JANUARY 2025 Precious Metals & Critical Minerals Exploration Bathurst Mining Camp, New Brunswick, Canada Cape Breton Highlands, Nova Scotia, Canada CORPORATE PRESENTATION this t le r e s ou r ce s .com
Slide 2: Forward-Looking Statements
Forward-Looking Statements Disclosure: No Assurance: This presentation contains "forward-looking information" within the meaning of applicable Canadian Readers are cautioned that the assumptions used in the preparation of forward-looking securities legislation. This includes, but is not limited to,
Slide 3: Advancing Precious Metals and Critical Minerals Exploration
ADVANCING PRECIOUS METALS AND CRITICAL MINERALS EXPLORATION Thistle Resources is a dynamic Canadian junior exploration company strategically focused on the discovery and development of base and precious metals within two prolific regions: the Bathurst Mining Camp in New Brunswick and the Cape Breton
Slide 4: Project Portfolio
MIDDLE RIVER VMS PROJECT PORTFOLIO PROJECT • Situated along the eastern flank of the Tetagouche Group, BMC, which hosts the 4 Key Projects Driving Exploration & Growth prolific Brunswick #6 & #12 deposits. • VMS Horizon was identified through the 1995 Regional BMC EM Survey and further confirmed by
Slide 5: Strategic Location - Bathurst Mining Camp
STRATEGIC LOCATION - BATHURST MINING CAMP A premier mining district globally recognized for excellence, the Bathurst Mining Camp (BMC) was voted the #2 best mining jurisdiction in Canada and #8 in the world. Key Highlights Extensive Mineral Deposits: • The Bathurst Mining Camp is renowned for its ab
Slide 6: Neighbours of Thistle
Wolfden Resource Corp: NEIGHBOURS OF THISTLE Specializes in high-grade Royal Stewart Resources: Maintains a diversified base metal exploration & mineral exploration development. portfolio. Surrounded by good Company, a tribute to the prolific nature of the region. Region Highlights: • Proven Success
Slide 7: The Gold Bull Market
THE GOLD BULL MARKET KEY MARKET DRIVERS Gold has been on an upswing for many reasons, recently hitting an all time high of $2,786/oz. (USD - TradingEconomics.com, 2024) Inflation: Gold has been used as a hedge against inflation and economic uncertainty, historically performing well during times of p
Slide 8: Why Invest in Critical Minerals (VMS)?
WHY INVEST IN CRITICAL MINERALS (VMS)? A PUSH FOR RENEWABLE ENERGY? Copper has seen the quickest demand growth thanks to the push for As the world shifts its view toward renewable energy, demand for the critical minerals found in Volcanic Massive Sulphides (VMS) will reach Cu renewable energy, with
Slide 9: Leading Edge Technology for Advanced Exploration
TECHNOLOGY: LEADING EDGE TECHNOLOGY FOR ADVANCED EXPLORATION Thistle Resources is committed to pioneering advancements in mineral exploration by utilizing leading technology companies. Our work with APEX Geoscience & EarthEx Geophysical Solutions, in addition to incorporating other new industry lead
Slide 10: Geophysical Exploration Solutions
GEOPHYSICAL EXPLORATION SOLUTIONS Thistle Resources expertly integrates advanced geophysical solutions to propel our exploration projects, ensuring superior precision and expanded access to critical mineral resources. Broadened Exploration Target Definition Optimized Data Informed Exploration Horizo
Slide 11: Geophysical Analysis
GEOPHYSICAL ANALYSIS KEY ACHIEVEMENTS THROUGH LEADING EDGE MODELING: Data Enhancement: • Modernized exploration by digitizing historical drilling and geophysical data, improving our strategic decision-making capabilities. Geochemical Insights: • Identified key multi-element targets and extended pote
Slide 12: Geophysical Technology: Apex Geoscience
GEOPHYSICAL TECHNOLOGY: APEX GEOSCIENCE Apex Geoscience is a leading geoscience consultancy renowned across the industry for its comprehensive and integrated earth science services. Specializing in gold-copper and volcanogenic massive sulfide (VMS) deposits, Apex’s expertise spans a wide range of co
Slide 13: Middle River Gold
PROJECT: MIDDLE RIVER GOLD The Middle River Gold Project stands out for its structurally controlled gold mineralization hosted within the altered sediments and volcanics of the Canoe Landing Lake Formation. thistleresources.com | 13
Slide 14: Project: Middle River Gold - Key Highlights
PROJECT: MIDDLE RIVER GOLD KEY HIGHLIGHTS High-Grade Gold Intercepts: • Wide, high-grade gold intercepts up to 1.70 g/t over 38.3 meters. • Additional intercepts include 3.47 g/t over 17.6 meters and 2.41 g/t over 18.2 meters. Exploration Extent: • Modeling of the magnetics has traced the sinuous ho
Slide 15: Middle River Gold S-Trend
PROJECT: MIDDLE RIVER GOLD “S-TREND” EARTHEX GEOPHYSICAL SOLUTIONS ADVANCED PROPRIETARY TECHNOLOGY. • EarthEx reprocessed existing MegaTEM and Aerodat Magnetic Data, utilizing advanced proprietary algorithms to identify and confirm the 7km mineralized “S-Trend” (shown in blue) on the Middle River Go
Slide 16: Middle River Gold - Mineralized Folds Trend
MIDDLE RIVER GOLD - MINERALIZED FOLDS TREND ABITIBI GEOPHYSICS ORION IP SURVEY RESULTS. Abitibi Geophysics identified (5) new, untested mineralized folds, depicted in Abitibi Geophysics IP survey identifies new, untested, high-chargeability yellow channels. These channels correlate directly to and s
Slide 17: Middle River Gold DDH Cross-Sections
PROJECT: MIDDLE RIVER GOLD DDH CROSS-SECTIONS WITH ASSAY ZONES. • Estimated 300,000 oz Au drilled and confirmed by drill programs to date, representing only 400m of the 7km strike • Upper zone (surface to 130m) • New lower zone at 400m + (untested) highest chargeability readings in eastern BMC • Hig
Slide 18: Middle River Gold - Next Steps (Drill Program Targets)
MIDDLE RIVER GOLD - NEXT STEPS (DRILL PROGRAM TARGETS) EARTHEX & ABITIBI GEOPHYSICAL TARGET CENTERS OVER GEOLOGY Abitibi Geophysics identified drill target centers on mineralized folds (depicted in yellow) EarthEx Geophysical Solutions HD - UAV Drone identified structural target centers (depicted in
Slide 19: Project: Middle River Gold
PROJECT: MIDDLE RIVER GOLD Thistle Resources is a dynamic Canadian junior exploration company strategically focused on Gold-Silver & Critical Minerals in the World Famous BMC. Our aim is to prove over 2 million oz Au at our flagship Middle River Gold Deposit over the 7km identified trend, and develo
Slide 20: Middle River Gold Drill Results - Historic
MIDDLE RIVER GOLD DRILL RESULTS - HISTORIC DRILL HOLE # TARGET BEST INTERSECTION MR-03-001 MRG 2.35 g/t Au over 9.95m MR-03-002 MRG 3.80 g/t Au over 10.0m MR-03-003 MRG 3.47 g/t Au over 17.60m MR-05-004(1) MRG 2.59 g/t Au over 5.35m MR-05-004(2) MRG 0.84 g/t Au over 2.25m MR-05-006 MRG 6.28 g/t Au o
Slide 21: Middle River Gold Drill Results - Program #2
MIDDLE RIVER GOLD DRILL RESULTS - PROGRAM #2 DRILL HOLE # TARGET SECTION AU03 MRG 4.04 g/t Au over 12.77m AU03 MRG 5.28 g/t Au over 9.77m AU03 MRG 14.58 g/t Au over 3.38m AU02 MRG 1.64 g/t Au over 21.78m AU02 MRG 2.16 g/t Au over 15.78m AU02 MRG 2.60 g/t Au over 12.93m AU02 MRG 3.00 g/t Au over 6.6m
Slide 22: Middle River Gold Drill Results - Program #2
MIDDLE RIVER GOLD DRILL RESULTS - PROGRAM #2 DRILL HOLE # TARGET SECTION 21TRC-AU005 MRG 0.58 g/t Au over 13.23m 21TRC-AU005 MRG 1.72 g/t Au over 4.33m 21TRC-AU005 MRG 0.48 g/t Au over 9.57m 21TRC-AU005 MRG 1.04 g/t Au over 4.25m 21TRC-AU005 MRG 1.34 g/t Au over 3.25m 21TRC-AU008 MRG 1.59 g/t Au ove
Slide 23: Project: Middle River Gold - Targets
PROJECT: MIDDLE RIVER GOLD - TARGETS 26 targets, including several high-priority targets, have been identified using advanced geophysical techniques, showcasing significant potential for expanding the current gold deposit. The focus is on leveraging Inverse Polarization and Geo Vision 2000 technolog
Slide 24: Middle River Gold - Next Steps
MIDDLE RIVER GOLD - NEXT STEPS STRATEGIC EXPANSION AND DETAILED EXPLORATION PLANS IDENTIFICATION (Completed 2024) • EarthEx Analysis confirmed the relationship between known gold mineralization and magnetics at the Middle River Gold Deposit while also identifying the highly prospective "S-trend”. EX
Slide 25: Middle River VMS
PROJECT: MIDDLE RIVER VMS The Middle River VMS Project leverages advanced geophysical techniques and AI-driven analysis to highlight the significant potential along the eastern flank of the property. thistleresources.com | 25
Slide 26: Middle River VMS - Advanced Target Analysis
PROJECT: MIDDLE RIVER VMS - Advanced Target Analysis KEY HIGHLIGHTS Geological Setting and Target Areas: • Brunswick Extension: On the eastern flank, a series of strong conductive responses 0 coincides with a 3-km distinct magnetic trend, indicative of massive sulfide 3 mineralization. This trend li
Slide 27: EarthEx - 3D-AI VMS Targets
EARTHEX - 3D-AI VMS Targets Our work with EarthEx brings state-of-the-art exploration technologies to the Middle River VMS Project. EarthEx's specialized capabilities enable us to conduct highly detailed and effective mineral explorations even in the most challenging environments. FIGURE 1 FIGURE 2
Slide 28: Middle River VMS - Next Steps
MIDDLE RIVER VMS - NEXT STEPS STRATEGIC EXPANSION AND DETAILED EXPLORATION PLANS TARGETING (Completed Summer 2024) • Priority Target areas have been prioritized and include the northerly VMS trend which mirrors the Brunswick Extension seen north of the Brunswick #12. • Continue exploration along the
Slide 29: Celtic Highlands Gold
PROJECT: CELTIC HIGHLANDS GOLD The Celtic Highlands Gold Project is located within a highly prospective region in Nova Scotia, encompassing an area of approximately 75km². This project stands out due to its numerous gold occurrences and its proximity to significant ongoing exploration activities, hi
Slide 30: Project: Celtic Highlands Gold - Key Highlights
PROJECT: CELTIC HIGHLANDS GOLD KEY HIGHLIGHTS Rich Gold Occurrences: • Extensive Gold Presence: Over 40 gold occurrences have been recorded from sampled boulders and exposed bedrock throughout the area adjacent to and within Thistle’s claims. • High-Grade Potential: The proximity to Transition Metal
Slide 31: Celtic Highlands Gold Assays
CELTIC HIGHLANDS GOLD ASSAYS TRENCH SAMPLE GOLD(g/t) SILVER (g/t) TUNGSTEN (ppm) Zone 17 CB 2 0.059 1.2 <4 Zone 17 CB 3 0.211 2.4 <4 Zone 18 CB 4 0.131 2.3 <4 Zone 18 CB 5 1.529 29.7 >200 Zone 18 CB 6 0.757 17.7 16 Zone 18 CB 7 6.827 92.0 5.4 SAMPLE GOLD (g/t) SILVER (g/t) TUNGSTEN (ppm) MOLYBDENUM
Slide 32: Celtic Highlands Gold Assays - Continued
CELTIC HIGHLANDS GOLD ASSAYS - CONTINUED SAMPLE GOLD(g/t) SILVER (g/t) TUNGSTEN (ppm) BERYLLIUM (ppm) 20CG0001 1.093 22.7 8 <1 20CG0002 1.258 31.0 12 <1 20CG0003 1.625 34.6 30 <1 20CG0004 0.074 1.40 <4 <1 20CG0005 0.332 9.70 24 <1 20CG0006 0.185 6.20 46 <1 20CG0007 0.253 8.10 44 <1 20CG0008 0.656 20
Slide 33: Celtic Highlands Gold Assays - Continued
CELTIC HIGHLANDS GOLD ASSAYS - CONTINUED The latest assay results from the Celtic Highlands Gold Project highlight the EarthEx Analysis - Defining Gold Bearing Structures presence of a significant precious metal system. Key findings and geological interpretations reveal a robust potential for high-g
Slide 34: Celtic Highlands Gold - Next Steps
CELTIC HIGHLANDS GOLD - NEXT STEPS STRATEGIC EXPANSION AND DETAILED EXPLORATION PLANS DIGITAL TOPOGRAPHIC LINEATION STUDY (Completed 2024) • Utilize digital topographic data and LIDAR to delineate major structural features/mineralized pathways. • This study helps in mapping the structural controls o
Slide 35: Alba Forks Gold
PROJECT: ALBA FORKS GOLD The Alba Forks Gold Project is a targeted exploration initiative located within a region noted for its historical geology and mineral potential. This project aims to systematically identify and develop gold-rich targets through a series of coordinated exploration strategies.
Slide 36: Project: Alba Forks Gold
PROJECT: ALBA FORKS GOLD EXPLORATION STRATEGIES Budget TASK DESCRIPTION BUDGET Data Compilation: Prospecting/Sampling 20 - man days, property wide $30,000 • Objective: Comprehensive compilation of historical geology, geophysical, and geochemical data. Analytical XRF analysis / Heavy mineral $15,000
Slide 37: Expertise Driving Exploration and Growth
STRATEGIC LEADERSHIP: EXPERTISE DRIVING EXPLORATION AND GROWTH Thistle Resources is guided by a management team with robust expertise in geology, geophysics, and capital markets, ideally suited for the Bathurst Mining Camp's unique challenges. Our leaders hold significant stakes in the company, alig
Slide 38: Management Biographies
Mr. Cruickshank received his MBA from the Schulich School of Business at York University in 1989. Mr. Mr. Lohman received his B.Sc. in Geology from the University of Toronto in 1981. Mr. Lohman has over Cruickshank has over 20 years of experience in the Wealth Management Sector working for Merrill 4
Slide 39: Management Biographies
Mr. Hicks received a B.Sc. in Electrical Engineering from Oklahoma State University in 1982 and a Euan received his BA in Marketing from Texas A&M University and its Nationally Awarded Mays Master's of Electrical Engineering from Oklahoma State University in 1992. Over his 38-year career at Business
Slide 40: Board and Advisors
Mr. Cruickshank received his MBA from the Schulich School of Business at York University in 1989. Mr. Cruickshank has over 20 Mr. Vienneau worked with Stratabound Minerals Corp for over 10+ years and brought the company from solely an exploration years of experience in the Wealth Management Sector w
Slide 41: Board and Advisors
Mr. Cruickshank received his MBA from the Schulich School of Business at York University in 1989. Mr. Mr. Vienneau worked with Stratabound Minerals Corp for over 10+ years and brought the company Cruickshank has over 20 years of experience in the Wealth Management Sector working for Merrill from sol
Slide 42: Ownership and Structure
OWNERSHIP AND STRUCTURE CAPITAL STRUCTURE CAPITALIZATION AS OF 6-30-24 Current S/O 35,966,452 Warrants 2,404,320 Options 0 Fully Diluted 38,370,772 Current Shares Outstanding Warrants & Options thistleresources.com | 42
Slide 43: ESG: Commitment to Environmental, Social, & Governance
ESG: COMMITMENT TO ENVIRONMENTAL, SOCIAL, & GOVERNANCE Thistle Resources is deeply committed to enhancing the storied legacy of the Bathurst Mining Camp, a cornerstone of Canada's Social Responsibility mining sector. By employing local workers and engaging closely with local government, we ensure th
Slide 44: For inquiries please contact
For inquiries please contact: Patrick J. Cruickshank, MBA, CEO & Director patrick@thistleresources.com 613-900-9722 (Mobile) 506-800-0581 (Office) Gary Lohman, P.Geo, COO & Director gary@thistleresources.com 905-299-8552 www.thistleresources.com thistleresources.com | 44
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