PICKERING, Ontario - Renforth Resources Inc. (CSE: RFR) (OTC: RFHRF) (FSE: 9RR) ('Renforth' or the 'Company'), is pleased to advise shareholders that Victoria contains a pit constrained in situ 413 million lbs of nickel equivalent over 2.5km of strike, as stated in the Initial Mineral Resource Estimate for Victoria presented below.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines (2014) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council and CIM Best Practices Guidelines (2019).
July 2025 Consensus Economics long-term forecast metal US$ prices of Ni $8/lb, Cu $4.5/lb, Co $18/lb, Zn $1.25/lb, Ag $30/oz.
Exchange rate of US$0.73 = C$1.00
Process recoveries and payables combined of Ni 75%, Cu 50%, Co 50%, Zn 50%, Ag 50%
Open pit C$20/t cut-off derived from C$17/t processing and C$3/t G
Pit slopes are 50 degrees, with strip ratio of less than 1:1.
Totals may not sum due to rounding.
NiEq% = Ni% + (Cu% x 0.38) + (Co% x 1.50) + (Zn% x 0.10) + (Ag g/t x 0.66)
Grade capping was not required on the 1.5m composites.
Grade estimation into the 5m x 5m x 5m non-rotated block model was undertaken with the Inverse Distance Squared method.
A uniform bulk density of 2.8 t/m3 was utilized.
Two potential Mineral Resource Estimate starter pit subsets are as follows
Martin Demers, Vice-President of Exploration for Renforth states 'The completion of the first Mineral Resource Estimate at Victoria is an important milestone to initiate the economic evaluation of this type of polymetallic target. Even if the deposit model is not fully understood at this stage, the fertility of the ultramafic units, even though currently relatively narrow, is supported by the polymetallic values. Geophysical anomalies currently indicate an extensive footprint upon which to follow up. The ongoing integration of information will eventually allow regional scale mineralization vectors targeting a larger deposit. The identification at Victoria of magmatic assimilation of sulfur and carbon can already be considered as a positive sign supporting the search for targets attached to a large magmatic system.'
Victoria Geological Model
The current geological model corresponds to a modified magmatic Ni-Cu-Co sulphide deposit hosted in the Pontiac geological Sub-Province. The mineralized system straddles a contact between a siliceous graphitic and sulphidic Zn rich horizon and an ultramafic sill and volcanic flow complex with thicknesses reaching several tens of metres. The drilling coverage has intersected between two and three contacts repeated within a 500 metre thick package. The mineralization mechanism implies the following processes
Sulphur carbon assimilation at the magmatic stage.
Nickel extraction from the ultramafic magma
Mineralization reaction: pentlandite exsolutions hosted in pyrrhotite coexisting with sphalerite
Conversion of sedimentary pyrite in graphitic mudstone to pyrrhotite
Metamorphic recrystallization of silicates and sulphide phases.
Our interpretation is that our geological model shares several characteristics with the 'Outokumpu' deposits of eastern Finland where the formation processes of two separate mineral systems have overlapped and interacted.
The Victoria Structure runs west to east across the centre of the Malartic Metals Package Property for a strike length of approximately 20km, with mineralization occurring at or near surface, forming a rock package that pinches and swells across its length, with north to south thicknesses of up to 500m as observed in surface sampling and drill results to date. The MRE is derived from approximately 2.5km of strike drilled off with 10,316.7m of drilling in 44 drill holes, located from the regional Rapide 7 generating station road, which runs south from the Town of Cadillac through the centre of the Property to the hydroelectric generating damn, to the west. This Property includes the ground Renforth has previously stripped, removing 1-2m of overburden in places to expose 180m of mineralization on surface.
Located approximately 4km to the north of Victoria, the Lalonde Structure carries similar mineralization in the same type of setting. The Lalonde Trend, which stretches for 30km has also been drilled by Renforth, again commencing in the vicinity of the road but is not included in this MRE. Additional showings of similarly mineralized material exist elsewhere on the Property, including Fouillac, south of Victoria, and at unnamed locations north of Lalonde. These areas and others within our 300 km2 property require additional investigation.
TOMRA Testing Status
As previously press released October 1, 2024, Renforth successfully completed an initial test of material from Victoria at the TOMRA Mining Test Centre in Wedel, Germany. Results include high-definition recognition of mineralization in the drill core samples submitted, showing sulphide mineralization and mineralized inclusions in waste rock. In addition to proof of concept that the material can be sorted prior to processing, which will increase the grade of the material processed by reducing the mass of the material, the recognition of waste rock and the detection of an EM signal of conductivity from the mineralized particles allows additional separation potential in secondary sorting/scrubbing circuits. In addition to a positive impact on grade, the concentration of material would also result in a reduction to the volume of material processed and therefore waste generated, and a reduction in the amount of chemicals, water, power and other inputs used in the processing of mineralized material from Victoria.
Forward-Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may,' 'will,' 'plan,' 'expect,' 'believe,' 'anticipate,' 'estimate,' 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided, and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Contact:
Nicole Brewster
Tel: 416-818-1393
Email: Nicole@RenforthResources.com
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