Exploration

James Bay Properties Overview

• Properties obtained with the 2015 acquisition of Virginia Mines
• Early-mover prospective grounds near Newmont’s Éléonore mine covering over 186,000 ha
• Over $50 M invested to date with several drill-ready targets and significant grassroots exploration potential
• Several discoveries (Azimut) and M&A transactions (Eastmain) on properties next to the James Bay properties, with significant recent interest
• “Plan Nord” and “Grande Alliance” represent considerable infrastructure construction commitments by the Québec government
• Several exploration targets could represent potential feed for the Éléonore mine complex, thus significantly reducing economics threshold
• Asset Spin-Out and Formation of Electric Elements Mining Corp.: On November 15, 2023, the Company announced the spin out of all its shares and partnership units in certain subsidiaries holding the rights and title and interest in its James Bay properties and the formation, jointly with O3 Mining Inc., of “Electric Elements Mining Corp.” Please refer to the Company’s news release dated November 15, 2023, for more detail (here).

Targets and Discoveries

• Two new gold trends identified (130 km and 30 km of strike length)
• Gold-copper porphyry, skarns and sediment-hosted gold targets
• Over 100 follow-up targets identified
• Strong potential for discoveries

Vision

• Allows for a future JV platform with little holding cost