Churchill Resources Inc · TSXV:CRI
Churchill Resources — Investor Presentation (December 2025)
27 slides from Churchill Resources's investor presentation, December 2025
Slide 1: Evaluating the Frost Cove Antimony Mine
Evaluating the Frost Cove Antimony Mine Hosted by the Black Raven Antimony-Gold-Silver Property Newfoundland & Labrador December 2025 Image: Lower adit and mined out surface material at Frost Cove Antimony Mine
Slide 2: Cautionary Statement Regarding Forward Looking Information
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION This presentation is for informational purposes only and does not constitute an offer or a solicitation of an offer to purchase the securities referred to herein. Certain information set forth in this presentation contains “forward‐looking s
Slide 3: Equity Capital Markets Profile
[Note to draft: Conan to update.] Equity Capital Markets Profile Ticker (TSXV) CRI.V Common 300,848,000 Warrants 50,564,000 Management and Board 55,600,000 (Common) Recent fundraising $7.5m since July 2025 (via warrants and private placements) 52 Week Trading Range $0.01-$0.32 Notes: Equity outstand
Slide 4: Leadership Team
Leadership Team Experienced and aligned with meaningful capital at risk Conan McIntyre Paul Sobie Paul Robertson Bill Fisher Malik Easah CEO and President and CFO Chairman Director Director Director Experience building growth Economic geologist CPA, CA with extensive mining Geologist and mining Mini
Slide 5: Antimony: An Essential Industrial Element
Antimony: An Essential Industrial Element Has long been known to be at high risk of disruption 1 • Vital for military and History is returning non-military applications • From the mundane to high tech: ✓ Initiate: Ordinance ignition (primers) ✓ Sustain: Energy storage, alloy hardening (lead-acid, mu
Slide 6: Supply Chain at Risk of Ongoing Disruption
Supply Chain at Risk of Ongoing Disruption Worldwide vulnerabilities and interdependencies • Niche market + essential quality → suppliers dictate global industrial policy, and at low cost • China 2024 antimony export ban, paused Oct 2025 • However deep structural issues remain • Intrusive licensing
Slide 7: Atlantic Canada Antimony Hub
Atlantic Canada Antimony Hub Historic Frost Cove • Atlantic Canada was historically meaningful antimony Antimony Mine producer on global scale. • Key sites: The Lake George Mine and Beaver Brook Mine and Mill, located 100km south of the Frost Cove Antimony Mine. • Economic and strategic importance:
Slide 8: Black Raven Project, Central Newfoundland
Black Raven Project, Central Newfoundland • Hosts two historic producers, sporadic production 1890-1916: Frost Cove Antimony Mine and Stewart Gold Mine • High-grade, polymetallic stockwork vein system within extensive shear zones. Six months of continuous 2025 exploration by Churchill • Multiple pul
Slide 9: Infrastructure
Infrastructure Newfoundland and Labrador is in the top 10 of mining jurisdictions worldwide • Close to urban population and amenities. 60km to Gander. • Transportation. 50km from Trans-Canada, secondary highway access to property. Airport at Gander. • Tidewater. Deep water ports on property at Moret
Slide 10: Indicative Historic Workings
Indicative Historic Workings Historical workings included • two accessible adits ~65m (tunnels) with antimony (stibnite) veins exposed in the face Filled-In Shaft • three shafts (and one rediscovered 780m south of the main adits by Churchill). Material was overhand stoped along a 2.5m wide zone. The
Slide 11: Deliveries
Strike length High grade Interim Property Exploration Status 2025 Exploration depth gold and Exploration optioned (Apr results (Jun Update (Nov results (Jul 8) extended silver results Results (Oct 15) (1) 12) 26) (Aug 6) (Sep 16) 20) Deliveries 35.1% and High grade zinc High-grade gold 17.3 g/t Au a
Slide 12: 2025 Evaluation Program
2025 Evaluation Program Polymetallic potential 1. • Frost Cove Antimony Mine: High Sb grades over 800m with 30 DDH’s and surface trenches High grade confirmed in 2 adits, pits 350m south, and massive antimony (Sb) seams. confirmed across two • Composite 50kg vein material for met studies grades 11.1
Slide 13: Canada and G7 Critical Minerals Production Alliance
Canada and G7 Critical Minerals Production Alliance Canada is backing out of its corner 1 • National security legislation (Defence Production Act) leveraged to accelerate production2 via: • Stockpiling of critical minerals • Offtake agreements (ie., buying a share of mine production) • Incorporation
Slide 14: What Would a 'Made In Canada' Antimony Supply Chain Mean?
What Would a ‘Made In Canada’ Antimony Supply Chain Mean? Geopolitical resilience1,2 for Canada and our allies.2 • Small market size becomes strategic advantage • A compact Canadian project with new new primary supply would fundamentally shift power dynamics • Industry deeply wounded by recent price
Slide 15: Canada's Moment
Canada’s Moment Potential to unlock Newfoundland and Labrador as a near term, regional hub-and- spoke antimony supply chain. Historic Frost Cove ✓ Potential for high-grade strategic “seed asset”, with other regional assets as Antimony Mine sources of complimentary supply / feedstock. ✓ Existing perm
Slide 16: Opportunity Overview
Opportunity Overview ✓ High-grade, historic antimony-gold producers in Central Newfoundland • Polymetallic system: Antimony, gold, silver, lead, zinc. ✓ Meaningful catalysts for 2025-2026 and beyond: capital velocity • 5,000m drilling program completed -100m – assays awaited • Drilling to recommence
Slide 17: Appendix & Supplementary Materials
Appendix & Supplementary Materials
Slide 18: Tectonic/Geological Setting
Tectonic/Geological Setting Felsic Intrusion-related Sb-Au-Ag Stockworks with numerous high-grade veins and affiliated low-grade Cu-Mo-Au porphyry system, all intruded into mafic volcanic domain that hosts Buchans and Rambler www.churchillresources.com TSX-V:CRI 018
Slide 19: Black Raven Project – Felsic Intrusion Related Sb-Au System
Black Raven Project – Felsic Intrusion Related Sb-Au System Taylor’s Room Sample DW-321 Frost Cove Upper Adit 2.16 gpt Au, 395 gpt Ag, 7.34% Pb, Hanging Wall Vein 18.42% Sb/30cm 12.11% Zn www.churchillresources.com TSX-V:CRI 019
Slide 20: Black Raven Exploration Model
Black Raven Exploration Model Frost Cove Sb-Au-Ag Veins Taylor’s Room Au-Ag-Pb-Zn Veins Stewart Cu-Mo-Au-Ag Stockworks Black Raven High-grade Vein Types (Kay, 1981) www.churchillresources.com (Kirkham & Sinclair, GSC, 1996) TSX-V:CRI 020
Slide 21: Frost Cove Evaluation Program
Frost Cove Evaluation Program www.churchillresources.com TSX-V:CRI 021
Slide 22: Frost Cove Historical Workings
Frost Cove Historical Workings www.churchillresources.com TSX-V:CRI 022
Slide 23: Several historical pits now stripped and sampled
several historical pits now stripped and sampled — 12 DDH’s, 6 channels completed Feces 4 TRS od | > Churchill -. s Aspy-Ag-Gn-Sph Vein Hole 6 © Black Raven Project r 5 4 — Taylor's Room
Slide 24: Stewart Gold Mine
Stewart Gold Mine Historical shaft re-opened and sampled 6 DDH’s completed, all hit target Au vein . ) Looking South at shaft, DDH 1 SI ‘S Churchill ; 2 ae ™ —_ eee tack Raven Project, Stewart Mine aah ced ft ’ GE. ‘ Looking South at-shaft Nov 2028
Slide 25: Antimony (Sb)
Antimony (Sb) : s Gold (Au) Churchill 2025 Soil Sampling 2000 B-horizon samples on 50m grid Year 1 targeting known areas of mineralization, and further to the south where no work has taken place Anomalous areas for Sb, Au, Ag etc. will give us a better idea of which veins/dykes to prioritize for fol
Slide 26: www.churchillresources.com TSX-V:CRI
www.churchillresources.com TSX-V:CRI 026
Slide 27: www.churchillresources.com TSX-V:CRI
www.churchillresources.com TSX-V:CRI 027
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