Author: TheNewswire.com

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Vancouver, British Columbia (April 2, 2024) – TheNewswire – BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (“BYND” or the “Company“), has released its financial results for year ended December 31, 2023. Full versions of BYND’s audited consolidated financial statements and management discussion and analysis for the period, can be found on www.sedarplus.ca

2023 Year-End Financial Highlights:

• Revenue decreased 4% to $1,076,861 for the year ended December 31, 2023 from $1,123,072 for the same period in 2022.

• Gross Profit decreased to 37% for the year ended December 31, 2023 from 55% for the same period in 2022.

• Net loss increased 1,011% to $18,495,121 for the year ended December 31, 2023 from $1,664,684 for the same period in 2022.

• Working capital decreased to 2,441,703 for December 31, 2023 from $2,987,975 for December 31,2022.

• Total assets decreased to $36,801,368 for December 31, 2023 from $49,903,208 for December 31,2022.

• Total shares outstanding as of December 31, 2023 were 42,553,166 (223,964 post reverse split).

Summary of Quarterly Comparison of Revenue, Gross Profit and Net Loss

	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Revenue	205,121	202,058	251,047	$420,635	$232,186	$227,954	$207,653
Gross Profit (Loss)	(56,711)	72,085	66,239	$316,943	$96,938	$126,866	$37,657
Net Loss	(15,167,579)*	(1,439,785)	(1,147,324)	$(740,433)	$(700,222)	$(325,793)	$(473,386)

*Includes impairments of intangible assets and asset under construction in the amount of $13,142,481.

Mr. Yftah Ben Yaackov, BYND’s CEO noted that “Despite the fact that the company went through a difficult year, starting with changes in the core areas of its activities in Israel and ending with the difficult war in Gaza, we were able to raise significant funds that will allow us to further develop the strategic change we are working on, the goal of which is penetration into the global FemTech market through the EZ-G device that will be launched this year to the public and through other devices in the field of wellness based on our technology-based patent pending smart delivery system. We believe that we have the knowledge and technology required to bring to the market high-quality products that will make a significant difference.”

About BYND Cannasoft Enterprises Inc.

BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (CRM) software product enabling small and medium?sized businesses to optimize their day?to?day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops.

BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women’s health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users’ pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction. Commercialization of the EZ-G device is subject to receipt of regulatory approvals.

For further information please refer to information available on the Company’s website: www.cannasoft-crm.com, and on SEDAR+: www.sedarplus.ca.

Gabi Kabazo

Chief Financial Officer

Tel: (604) 833-6820

e?mail: [email protected]

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended and under Canadian securities laws. When used in this press release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward?looking statements. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company’s management’s discussion and analysis for the year ended December 31, 2023 and annual information form dated April 2, 2024, which are available under the company’s profile at www.sedarplus.ca, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 2, 2024. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward?looking statements, except as required by law. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward?looking statements.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450251016/2895/2024-04-02T20:30:18

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April 2, 2024 – TheNewswire – London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE Symbol: PMC OTCQB; Symbol: PMCCF) has granted a total of 2,100,000 incentive stock options to consultants of the Company. These options are exercisable over three years at an exercise price of $0.09.

For further information please contact:

Edward (Ted) Ellwood, MBA

President & CEO 1-519-964-2836

Peloton is a reporting issuer in good standing in the Provinces of Ontario and British Columbia whose common shares are listed on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF). There are 125,023,958 common shares issued and outstanding in the capital of the Company.

Peloton’s exploration portfolio includes the North Elko Lithium Project, a gold exploration project on the Carlin Trend, Nevada, a past producing gold project in Montana under option to a JV partner, and a non-controlling interest in a copper porphyry project near Butte, Montana.

CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450244392/2895/2024-04-02T17:40:39

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Vancouver, British Columbia – April 2, 2024 – Dixie Gold Inc. (TSX VENTURE: DG)(“Dixie Gold” or the “Corporation”) reports that it has today entered into and executed a settlement agreement dated April 2, 2024 (the “Settlement Agreement“) with Omnia Metals Group Ltd (“Omnia“) as relates to its prior commencement of legal proceedings (the “Litigation“) as plaintiff against Omnia (see news release, Dixie Gold Inc. Initiates Lawsuit Against Omnia Metals Group Ltd., Provides Related Notice to Market Regarding Takeover Transaction, dated March 4, 2024).

Pursuant to the Settlement Agreement, the parties have resolved their differences without admission of liability and provided customary and encompassing mutual releases.

Under the Settlement Agreement, the Corporation received a cash payment, which is expected to exceed its legal expenses related to the Litigation and thereafter modestly attribute to the Corporation’s working capital. Importantly and more materially, the Corporation also received confirmation of clear entitlement to funds previously paid by Omnia to the Corporation.

The Corporation did not make any payments to Omnia under the Settlement Agreement nor otherwise.

Beyond the above, the Corporation views the Litigation as having facilitated important material disclosures related to matters then between the Corporation and Omnia. With that served, the Corporation views the Settlement Agreement as now eliminating the potential for assertions around specific performance should the Corporation otherwise transact on one or more of its assets in the future.

In furtherance of the Settlement Agreement, the parties involved shall execute customary documentation to conclude court matters that rest under Court File No. VLC-S-S-241442.

The Corporation does not plan further dealings with Omnia, views the Litigation as resolved with a positive outcome and does not intend to make further public statements on the settled matter.

About Dixie Gold Inc.

Dixie Gold Inc. (TSXV: DG) is a publicly traded exploration company holding a portfolio of exploration projects in Canada.

For more information, please visit www.dixiegold.ca

Signed,

Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,”, “intention” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, including, but not limited to statements related to the Corporation’s business in general and/or matters related to further effectuating the Settlement Agreement and resolving matters of court related to the Litigation.

Without limitation, these statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business and transactions, or if our estimates or assumptions turn out to be inaccurate.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Info:

Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
T: 604.687.2038
E. [email protected]
W. www.dixiegold.ca

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450241285/2895/2024-04-02T16:15:24

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Lexaria receives new patents in the fields of epilepsy and anti-viral agents

Kelowna, British Columbia – April 2, 2024 – TheNewswire – Lexaria Bioscience Corp. (Nasdaq: LEXX; LEXXW) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms announces three recent patent awards.

The Company has recently received two new granted patents in Lexaria’s patent family #24, Compositions and Methods for Treating Epilepsy, both awarded in the USA. These patents complement earlier research that discovered DehydraTECH-CBD was capable of mitigating epileptic seizures in rodents, and was also absorbed into the bloodstream more effectively than the commercially available cannabinoid-based anti-seizure medication, Epidiolex(R). Each of these patents will expire in 2042 if not extended. These are the first patents awarded to Lexaria within this important patent family, where there are also international applications currently being processed, and they cover both swallowed capsules and dissolvable oral tablets.

The Company has received a granted patent in Japan in Lexaria’s patent family #18: Compositions and Methods for Enhanced Delivery of Antiviral Agents. Lexaria previously established in animal studies, that DehydraTECH processing of several antiviral drugs resulted in delivery improvements of between 42% and 204%. This newly issued patent will expire in 2041, if not extended. The new Japanese patent follows previous patent grants within this patent family in Australia and the USA.

With the issuance of these new patents, Lexaria is now managing a patent portfolio of 41 granted patents worldwide. Lexaria’s intellectual property remains a significant component in supporting future business objectives.

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH(TM) is Lexaria’s patented drug delivery formulation and processing platform technology which improves the way active pharmaceutical ingredients (APIs) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 41 patents granted and many patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company’s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company’s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company’s public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic – Head of Investor Relations

[email protected]

Phone: 250-765-6424, ext 202

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450223582/2895/2024-04-02T09:00:50

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Vancouver, British Columbia – TheNewswire – April 2, 2024 – Manning Ventures Inc. (the “Company” or “Manning“) (CSE:MANN); (Frankfurt:1H5); (OTC:MANVF) is pleased to announce that Phase One exploration is underway at its Copper Hill Project, located within the Walker Lane Trend, Nevada, USA.

Geological personnel are on site and conducting phase one work of the staged exploration program at the Copper Hill Project, within the Walker Land Trend, Nevada, USA. The first phase of target generating work consists of detailed geologic mapping, soil geochemistry, and a property-wide gravity survey. These programs will be integrated to develop a comprehensive picture of the project. The results will be combined with all available historic data to outline target areas that can be tested with core and reverse circulation drilling.

Geologic mapping will add details to the property-wide geologic map completed in the early 2000’s. Copper Hill is centered on a Jurassic Age quartz monzonite porphyry that intrudes the surrounding Triassic Age Luning Limestone, which was then cut by a variety of intrusive dikes. Zones of porphyry-related copper and gold-bearing skarn mineralization occur at the intrusive-limestone contacts and along fault zones in the intrusive.

Detailed mapping will focus on defining:

• The extent and location of the skarn mineralization.

• Delineating skarn mineralization zoning details, around the historic mining and other areas of the project with anomalous copper and gold in the rock geochemistry.

• Delineating porphyry-copper alteration zoning that may provide a vector to a hidden porphyry copper type target.

A soil geochemistry program to collect approximately 220 soils is laid out to sample rock contact/skarn zones, fault zones interpreted from a ground magnetic survey, and areas covered by shallow colluvial gravel. Sites are spaced every 61 meters (200 feet) on north-south lines spaced 91 meters (300 feet) apart. Samples are laid out to outline and extend the areas of high-grade and anomalous copper, gold, and molybdenum mineralization sampled in the historic rock chip samples. The samples will be analyzed using a 4-acid digestion method which will provide analyses for economic minerals plus trace elements that are known to be associated with porphyry-related skarn mineralization (silver, zinc, bismuth, and tin).

The gravity geophysical program will aid in determining the extent of the intrusive and limestone rocks. Sample locations are laid out to provide enough points to show the density contrasts between the different lithologies. This will provide data to help delineate the various rock types and define fault zone orientations at depth, below the surface.

Click Image To View Full Size

Image 1: Copper Hill Project Geology with Cu in Rocks

The Company will update the program as it progresses in the weeks ahead.

About the Copper Hill Project

Copper Hill hosts copper-gold-molybdenum mineralization in both porphyry and skarn styled deposits in Mineral County, Nevada. The property consists of 66 mineral claims covering an area of 2.3 miles. The property is located 22 miles north of Hawthorne, Nevada and is accessible using well-maintained County Roads.

The Project is centered on a Jurassic Age quartz monzonite porphyry intruding Triassic age Luning Limestone. The claims cover 2.3 sq miles and are 33 miles east of the Yerington Copper District which hosts the Yerington Copper Mine (Anaconda 1952-1978), Ann Mason Deposit, Bear Deposit, MacArthur Deposit, and the Pumpkin Hollow Mine.

Historically at Copper Hill, reported high-grade copper was mined from underground shafts from skarn and porphyry-copper styled mineralization at the Copper Mountain Mine. Between 1914 to 1926 mining from the “Copper Mountain Mine” produced an estimated 1,000,000 pounds of copper from shallow underground workings. Historic reporting from the period of production describes ore zones of contact skarn- type and porphyry-type mineralization with shipping grades ranging from 3.5 to 11.0% copper*.

*Historic Minning information was summarized from an “Unpublished Report on the Carson Sink Area, Nevada by F.C. Schrader, U.S. Geological Survey (Field work 1911-1920) 1947”. Manning Ventures cautions investors that the historic exploration and production information is believed to be accurate but has not been verified by a qualified person.

The Copper Hill mineralizing system forms a topographic high surrounded and partially covered by younger volcanic rocks. Mineralization identified at Copper Hill are bornite, chalcocite, chalcopyrite, chrysocolla, copper-native, covellite, cuprite, gold, malachite, molybdenite, silver, sphalerite (rare), and tetrahedrite.

The Copper Mountain area was explored between 1959 to 1979 by Idaho Minning Corp. and Walker-Martel who conducted ground geophysics, underground mapping, prospecting and reported 6000 feet of Rotary drilling. Since that time ground magnetics were conducted in 2007.

Rock sampling collected at this time returned values from select samples of 7.2% and 12.7% copper and 1.06 g/t gold and 1.19 g/t gold respectively.

The target being sought at Copper Hill is a porphyry styled copper-molybdenum-gold deposit.

Warren Robb P.Geo., is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

About Manning

Manning Ventures is a mineral exploration and development company focused metals and materials critical to the growing Energy Metals space. Manning’s project portfolio is focused on Copper in Nevada, Lithium/Copper in Ontario and Quebec, and multiple Iron Ore projects in Quebec.

For further information contact:

Manning Ventures Inc.

Alex Klenman – CEO

Email: [email protected]

Telephone: (604) 681-0084

www.manning-ventures.com

FORWARD LOOKING STATEMENTS:

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the Company’s payment of the Exercise Price during the Option Term, the granting of the net smelter return royalty to the Optionor, and the Company’s payment of the annual minimum payments to the Optionor. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450221262/2895/2024-04-02T08:00:58

(via TheNewswire)

April 2 2024 – TheNewswire – Zonte Metals (TSXV:ZON) (XOTC:EREPF)

Zonte Metals is pleased to announce the discovery of a large copper-in-soil anomaly at the K9 target, on its Cross Hills Copper Project in Newfoundland and Labrador.

Highlights:

• Cu-in-soil anomaly measures 1500m in length and up to 1100m in width

• Soil anomaly is coincident with magnetic and gravity anomalies, and

• recent prospecting has discovered several new copper showings within the soil target.

The K9 target is defined by coincident magnetic and gravity anomalies sitting in a structural zone. Previous exploration discovered grades up to 1.76% Cu and 12 g/t Ag with trace gold in outcrop. A previously partially defined soil anomaly was also discovered at the K9 target, wherein many of the soil samples were amongst the highest through the project (see April 12, 2021 and September 20, 2021 press releases).

The expanded soil sampling program has identified a copper-in-soil anomaly measuring 1500m in length and up to 1100m in width and sits on top of the coincident magnetic and gravity anomalies. The newly discovered soil anomaly extends beyond the limits of the open-ended gravity anomaly to the south, where it is coincident with the magnetic trend. Recent prospecting within the soil anomaly has identified a mix of sulphides including chalcopyrite in several new locations (see Fig 1 below). The copper mineral type appears to show a gradation from chalcocite and bornite, with pyrite, in the central portions of the target to chalcopyrite and pyrite at the ends.

Additional exploration, including expanding the gravity grid and additional mapping and prospecting, is required on the southern sector of the soil anomaly. For more information on the K9 target and the Cross Hills Copper Project please visit

https://www.zontemetals.com/projects/cross-hills-copper-property

Click Image To View Full Size

Figure 1. The Cu-in-soil anomaly (black dashed line) with Cu-in-rocks on the K9 gravity anomaly.

Qualified Person

Donald Blake, P.Geo. is the qualified person as defined by NI 43-101 and has reviewed and approved the contents and technical disclosures in this press release.

About Zonte

Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company owns 100% of the MJ project, in the Tintina Gold Belt, located in the Yukon Territory, the Wings Point project in the new Central Newfoundland Gold Belt, and the Cross Hills IOCG project located in Newfoundland and Labrador. In Colombia, the company has a 25% carried interest in Project X where historic drilling intersected significant gold mineralization and the Company and partner have an application over open areas sitting on top of the open pit outline of the Gramalote Deposit in Colombia, which is held by AngloGold Ashanti (NYSE:AU) and B2Gold (TSX:BTO, NYSE:BTG). The title issuance is being contested by the state governing the application and the Company has started legal action to protect its rights.

Forward-Looking Information

This news release contains forward-looking statements which include statements regarding the Corporation’s future plans, as well as statements regarding financial and business prospects and the Corporation’s future plans, objectives or economic performance and financial outlooks. The Corporation believes that the expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements. In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof, and unless otherwise required by applicable securities laws, the Corporation does not intend, nor does it undertake any obligation to update or revise any forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

For further information contact:

Terry Christopher

CEO and President

902-405-3520

[email protected]

www.zontemetals.com

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450221076/2895/2024-04-02T08:00:24

(via TheNewswire)

April 2, 2024, Vancouver, B.C. – TheNewswire – VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the “Company“, or “VR“, has received the final data from a state-of-the-art airborne hyperspectral survey covering its New Boston property and polymetallic Cu-Mo-Ag porphyry system in west-central Nevada, and the spring drill program has mobilized.

From VR’s President & CEO, Dr. Michael Gunning, “Historical, boots-on-the-ground exploration was completed by two renowned exploration groups at New Boston through the 1960s and 1970s. VR is building upon that work by utilizing modern and innovative exploration technologies to more specifically identify vectors for copper-bearing vein stockwork centers within the large footprint and polymetallic porphyry-skarn system overall.

We completed a triaxial airborne magnetic survey last spring, including high-resolution radiometrics, followed by a 3-D array, DCIP survey on the ground utilizing the leading, and proprietary technologies at DIAS Geophysical. All three surveys differentiate unique signatures at Jeep Mine and East Zone respectively, located on opposing sides of the central GW fault, itself mineralized at surface for more than a kilometre along strike.

Airborne hyperspectral surveys map alteration minerals. They augment property-scale mapping on the ground by providing detailed mineral identification, including compositional variation, which cannot be done visually. Further, the system is especially responsive at New Boston thanks to the excellent bedrock exposure in the Garfield Range, allowing for comparative analysis across the entire mineral system and surrounding district.

SpecTIR LLC, NV, is an industry leader in providing hyperspectral data from across the near-visible (VNIR), short (SWIR) and long (LWIR) infra-red wavelengths via their integrated FENIX 1K – OWL technology, and mapping the broadest range of alteration minerals, including the carbonates, clays, micas, quartz, iron, feldspars and garnet, among others. This is especially effective for skarn alteration minerals related to porphyry intrusions at New Boston.

For example, Figure 1: There is a strong correlation between high temperature clay minerals identified by the new hyperspectral survey with the potassic alteration in East Zone outlined by our high resolution airborne radiometric survey completed last year. Figure 2: Our first planned drill hole will be collared in quartz vein rubble with copper oxide within that high temperature clay alteration, and will target the conductor plunging westward toward the central GW fault as identified in the new 3D array DCIP data also obtained last year.

There are no historic drill holes into the East Zone conductor; you don’t drill what you can’t see. But 45 years later, an array of new geophysical and geochemical tools are showing VR a zonation in the New Boston porphyry system across the central GW boundary zone and fault: in potassic alteration; in vein intensity and geometry; in IP and conductivity anomalies; in magnetic patterns; in alteration mineral assemblages, and; in copper geochemistry.

The excavator in the photo taken last week in Figure 3 shows you that we are ready to go. Please stay tuned as we mobilize this maiden drill program into what we believe is the high temperature center for copper vein stockwork mineralization in the eastern cell of the large footprint and polymetallic copper-moly-silver system at New Boston.”

Field Videos

A short video from the recent field visit, along with video from several previous site visits are available on the New Boston Project Page on the Company’s website at www.vrr.ca. Also, on the Home Page itself, is a 20 minute video review of the New Boston project and drill targets, illustrated in PowerPoint. Shareholders are encouraged to follow the Company’s YouTube and Instagram channels for further field updates as drilling progresses.

Technical Information

Summary technical and geological information for the Company’s various exploration properties including New Boston is available at the Company’s website at www.vrr.ca.

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Justin Daley, P.Geo., VP Exploration and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects, and the content of this news release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.

About the New Boston Property

Location

New Boston is within the Walker Lane mineral belt and structural province in west-central Nevada. More specifically, it is within the co-spatial belts of Jurassic – and Cretaceous-aged copper and moly porphyry deposits, including the Yerington camp and Hall deposit.

New Boston is located in the Garfield Range in Mineral County, approximately 150 km southeast of Reno. Vegetation is sparse in the range; outcrop or colluvium predominate on the property itself, with quaternary cover developed off its eastern border and eastern flank of the range.

The property location facilitates cost-effective exploration, year-round. Access is from the nearby town of Luning, located just 5 km to the east on State Highway 95 connecting Reno and Las Vegas. The property itself is criss-crossed by a myriad of active, historic trails and roads, which are reachable from the highway.

Property Description

The New Boston property is large: it consists of 77 claims in one contiguous block approximately 3 x 5km in size and covering 583 hectares in total (1,441 acres). It covers the entire extent of the known copper-moly-silver porphyry-skarn mineral system exposed on surface between Blue Ribbon and East Zone, and its inferred down-dip potential to the north.

The property is on federal land administered by the Bureau of Land Management (BLM). There are no state or federal land use designations, or privately-owned land which impede access to the property; nor is the property within the BLM’s broadly defined area of sage grouse protection.

The property is owned 100% by VR. There are no underlying annual lease payments; nor are there any joint venture or back-in interests. The vendor of the property retains a royalty.

Stock Option Allocation

The Company has approved an aggregate allocation of 1,725,000 incentive stock options at a price of $0.22 and exercisable for a period of five years to various directors, officers, employees and consultants to the Company, and in accordance with the terms of the Company’s Stock Option Plan

About VR Resources

VR is an established junior exploration company based in Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates, explores and advances large-scale, blue-sky opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. The Company has also made Canada’s newest diamond discovery in northern Ontario, and controls a new field of kimberlite targets around it. VR applies modern exploration technologies and leverages in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. The Company is well-financed for its mineral exploration and corporate obligations. VR owns its properties outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.

ON BEHALF OF THE BOARD OF DIRECTORS:

“Michael H. Gunning”

____________________________

Dr. Michael H. Gunning, PhD, PGeo

President & CEO

For general information please use the following:
Website: www.vrr.ca
Email: [email protected]
Phone: 778-731-9292

Forward Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this document include statements concerning VR’s plans to drill its New Boston property, and all other statements that are not statements of historical fact.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company‘s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

This news release may also contain statements and/or information with respect to mineral properties and/or deposits which are adjacent to and/or potentially similar to the Company’s mineral properties, but which the Company has no interest in nor rights to explore. Readers are cautioned that mineral deposits on similar properties are not necessarily indicative of mineral deposits on the Company’s properties.

Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review them.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

——

Click Image To View Full Size

Figure 1. Hyperspectral data for clay alteration minerals plotted on Skywatch satellite image. The high temperature clays associated with potassic alteration at East Zone, outlined by the large, pink K/Th radiometric anomaly, contrast with the cooler phengitic clays at Jeep Mine. The clay alteration pixels corelate strongly with exposed mineralized porphyry dikes in both zones. The clay-chlorite and quartz alteration in the overlying dark grey argillite to the north of East Zone correlates with grid-based ICP-MS soil geochemical anomalies in the same area and are together suggestive of a source, buried porphyry stock at depth below the argillite. Solid white lines are traces for conceptual drill holes planned for 2024.

Click Image To View Full Size

Figure 2. View east from the property last week, standing on the drill pad for NB24-001, the first hole in the pending drill program planned for this spring at New Boston, with State Highway 95 connecting Reno and Las Vegas in the valley bottom in the background. The blue-green copper oxide in quartz vein rubble in the foreground correlates with high temperature clay and garnet alteration minerals identified in the new, state-of-the-art airborne hyperspectral survey covering New Boston, and shown in Figure 1.

Click Image To View Full Size

Figure 3. View west into the East Zone bowl last week, over the drill pad for the first hole in the pending drill program planned for this spring at New Boston. The piece of quartz vein material with copper sulfide and copper oxide was turned up by the excavator throughout the drill pad area, and supports the DCIP conductor which is modelled at surface at this location, and plunges back into the bowl in the background of the photo.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450220322/2895/2024-04-02T07:30:43

(via TheNewswire)

• Type 1 diabetes (T1D) Cohort 2 patient data demonstrates favorable islet engraftment and long-term survival of human donor islets in the Cell Pouch
• First treated Cohort 1 patient in the T1D clinical trial to celebrate four years of insulin independence and normalized HbA1c

• With recent positive findings in post-surgical hypothyroidism large animal study, Sernova anticipates filing an Investigational New Drug (IND) application in 2024

• Additional chronic disease indications identified for further pipeline expansion with a focus on endocrine disorders

LONDON, Ontario; BOSTON, Massachusetts – TheNewswuire – April 2, 2024 – Sernova Corp. (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH), a clinical-stage biotechnology company focused on the development of regenerative medicine cell therapies for treatment of chronic diseases, today provided a business update. Following a review of the company’s therapeutic pipeline and emerging opportunities for its Cell Pouch system platform technologies, Sernova confirms key priorities including its lighthouse program in insulin dependent Type 1 Diabetes plus its intention to advance an IND filing for its post-operative hypothyroidism program.

Data from a patient in Cohort 2 of the company’s lead clinical program for insulin dependent Type 1 diabetes (T1D) confirms histologic evidence of long-term (one year) robust survival of abundant human donor islets throughout the Cell Pouch. Additional Cohort 2 findings are specific to an advanced immunosuppression regimen planned for use in its upcoming Phase I/II trial with stem cell-derived islets under co-development with Evotec.

Cohort 2 patients treated with an advanced immunosuppression protocol avoided graft rejection and experienced minimal side effects in comparison to those patients observed in Cohort 1. None of the six patients in Cohort 2 treated with the advanced regimen have tested positive for donor specific antibodies (DSAs), a marker of graft rejection, in comparison to three of six patients who developed DSAs under the conventional immunosuppression regimen in Cohort 1. Ancillary medication, used in some Cohort 2 patients, demonstrated highly favorable graft survival and function for islets transplanted to the Cell Pouch and has been integrated into the updated regimen and implemented for all subsequent patient trial enrollments. The company anticipates reporting additional data from Cohort 2 of its ongoing Phase 1/2 clinical trial of its expanded 10-channel Cell Pouch during the second half of the year at major medical conferences.

Sernova is pleased to report that this month marks the four-year anniversary of the first patient in Cohort 1 of this Phase 1/2 study who will celebrate insulin independence and normalized blood sugar levels, based on two transplants of human donor islets to the Cell Pouch plus a marginal portal vein top up.

“Based on the favorable results we are observing in ongoing pre-clinical studies, we have concluded that our hypothyroidism program represents another compelling opportunity by which to improve patients’ lives. We look forward to completing our pre-clinical work, engaging with regulatory agencies, and preparing for an IND filing later this year, with the goal of advancing a second indication into the clinic, further demonstrating the Cell Pouch as a drug delivery vehicle platform technology. Also of note, in addition to allowing for long term payload survival, our Cell Pouch has powerful containment and retrievability capabilities that we expect will have tremendous value for pharmaceutical companies looking to treat patients with cell therapies,” said Cynthia Pussinen, Chief Executive Officer of Sernova.

“In parallel with these activities, and our ongoing hemophilia A work, we have identified several high value indications with unmet medical needs that could potentially benefit from our platform Cell Pouch technology, with an initial focus on endocrine disorders. In the coming months, we will be conducting commercial assessments to prioritize those areas where we can best extend our reach to more patients while creating enduring value for our shareholders. I am excited for what we are poised to achieve this year and look forward to providing further updates in the future,” Ms. Pussinen concluded.

ABOUT SERNOVA AND ITS CELL POUCH SYSTEM PLATFORM FOR CELL THERAPY

Sernova Corp. is a clinical-stage biotechnology company that is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. Sernova is currently focused on developing a ‘functional cure’ for insulin-dependent diabetes with its lead technology, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells.

On implantation, The Cell Pouch forms a natural vascularized tissue environment in the body for long-term survival and function of therapeutic cells that release essential factors that are absent or deficient in the bodies of patients with certain chronic diseases. Sernova’s Cell Pouch System has demonstrated its potential to be a ‘functional cure’ for people with T1D in an ongoing Phase 1/2 clinical study at the University of Chicago.

Sernova partnered with Evotec to develop an implantable off-the-shelf iPSC (induced pluripotent stem cells) based islet replacement therapy. This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (type 1 and type 2). Sernova’s development pipeline that uses its Cell Pouch System also includes: a cell therapy for hypothyroid disease resulting from thyroid gland removal and an ex vivo lentiviral Factor VIII gene therapy for hemophilia A.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Christopher Barnes

VP, Investor Relations

Sernova Corp.

Tel: +1 519-902-7923

Email: [email protected]

Website: www.sernova.com

FORWARD-LOOKING INFORMATION

This release contains statements that, to the extent they are not recitations of historical facts, may constitute “forward-looking statements” that involve various risks, uncertainties, and assumptions, including, without limitation, statements regarding the prospects, plans, and objectives of the company. Wherever possible, but not always, words such as “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential for” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur are used to identify forward-looking statements. These statements reflect management’s beliefs with respect to future events and are based on information currently available to management on the date such statements were made. Many factors could cause Sernova’s actual results, performances or achievements to not be as anticipated, estimated or intended or to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors could include, but are not limited to, the company’s ability to secure additional financing and licensing arrangements on reasonable terms, or at all; ability to conduct all required preclinical and clinical studies for the company’s Cell Pouch System and or related technologies, including the timing and results of those trials; ability to obtain all necessary regulatory approvals, or on a timely basis; ability to in-license additional complementary technologies; ability to execute its business strategy and successfully compete in the market; and the inherent risks associated with the development of biotechnology combination products generally. Many of the factors are beyond our control, including those caused by, related to, or impacted by the novel coronavirus pandemic. Investors should consult the company’s quarterly and annual filings available on www.sedarplus.ca for additional information on risks and uncertainties relating to the forward-looking statements. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450218586/2895/2024-04-02T07:00:21

(via TheNewswire)

Calgary, Alberta / April 2, 2024 – TheNewswire – Impact Analytics Inc. (“Impact Analytics” or the “Company”) (CSE: PACT), a risk assessment, data intelligence and financial services platform powered by AI, is proud to announce that it has acquired the rights to a provisional patent (the “Provisional Patent“) for its AI and data analysis techniques, intended for use in the Company’s product stack under development, including LANA Cash, Credissential and the PACT Platform. The Provisional Patent was acquired from a research subcontractor of the Company and was originally filed with the United States Patent and Trademark Office (the “USPTO“) on September 8, 2023, under U.S. Provisional Patent Application Serial No. 63/537,421.

The Provisional Patent relates to a broad spectrum of innovative methodologies, the overarching purpose of which is intended to make disparate data more readily available for machine and artificial intelligence-based decision making. The Provisional Patent relates to several techniques believed by the Company to be novel, including:

• Continuous Monitoring and Updating: The Provisional Patent relates to a system that continuously monitors for new data sources, scrapes relevant data, and updates the training dataset in real-time or near real-time.

• Efficient Data Acquisition and Processing: The methods described in the Provisional Patent include data acquisition techniques, such as scraping data from a wide range of sources, generating relationship maps to distinguish between relevant and irrelevant data, and processing this data into a standardized format for training.

• Dynamic Retraining Mechanism: The Provisional patent relates to a model updating component that re-trains AI with the newly processed training data. This can be triggered periodically or in response to significant changes in data, with the goal of ensuring that the AI’s knowledge base is up to date.

• Integration of Client-Specific Data: In addition to publicly available data, the method described in the Provisional Patent can incorporate client-specific data into the machine training process. This allows for the customization of the AI to better serve specific client needs, potentially improving the relevance and accuracy of the model’s outputs for individual users or organizations.

• Feedback Loop for Continuous Improvement: The method described in the Provisional Patent includes mechanisms for gathering user feedback on the AI’s performance, which can be used to further refine the data acquisition and training processes. This feedback loop aims to establish that the model continuously evolves and improves over time, adapting to new information and user needs.

Eric Entz, CEO of Impact Analytics, stated “This provisional patent is a key component of our strategy to develop innovative solutions that provide actionable insights and empower businesses and individuals with enhanced decision-making capabilities.”

The Provisional Patent is provisional in nature and while it has been filed with the USPTO, the USPTO has not yet assessed the Provisional Patent. The Company expects to submit the Provisional Patent for assessment by the USPTO in the third quarter of 2024. The Provisional Patent expires on September 8, 2024. The rights underlying the Provisional Patent were acquired by way of assignment agreement with the inventor, a research subcontractor of the Company. The Company has agreed to settle legal fees of the inventor incurred in submitting the Provisional Patent and will incur all costs associated with the submission of the Provisional Patent for assessment by the USPTO. There is no guarantee that the Provisional Patent will be accepted by the USPTO and a patent underlying the Provisional Patent may never be granted.

About Impact Analytics

Impact Analytics is a risk assessment, data intelligence and financial services platform powered by AI. The Company is developing a proprietary product stack to optimize and streamline financial decision making for enterprises and individuals. Learn more at https://www.impactrisk.ai/.

ON BEHALF OF THE BOARD OF DIRECTORS

Chief Executive Officer Eric Entz

Head Office 2004 Sherwood Drive Sherwood Park, AB T8A 0Z1

Telephone +1 (587) 208 4044

Email [email protected]

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Information

Certain information in this news release may constitute “forward-looking” information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as “anticipate”, “estimate”, “may”, “will”, “expect”, “believe”, “plan” and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.

Forward-looking statements in this news release include, but are not limited to, statements relating to the effect and scope of the Provisional Patent and expected features of the techniques, methodologies and processes to which it relates, the timing of the submission of the Provisional Patent for assessment by the USPTO, expected results relating to the review by the USPTO of the submitted patent and the future plans of the Company, business plans, objectives and strategy. Forward-looking statements are inherently risky and the information and plans disclosed therein may not come to fruition as contemplated or at all.

Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.

Copyright (c) 2024 TheNewswire – All rights reserved.

COMTEX_450218837/2895/2024-04-02T07:02:06

(via TheNewswire)

Highlights

• Inaugural JORC Mineral Resource Estimate (“MRE”) for the Sunshine deposit at Idaho Cobalt Operations (“ICO”) incorporates 1,100 meters (“m”) of verification drilling across seven drill holes1

• Sunshine hosts Inferred Resources of 0.52 million metric tonnes @ 0.50% cobalt, 0.68% copper and 0.49 g/t gold; at a 0.25% Co cut-off-grade

• Inferred Resources represent Sunshine’s future potential as additional strategic, domestic United States (“U.S.”) cobalt supply to be processed at ICO’s existing surface infrastructure

• Sunshine MRE established via by United States Department of Defense (“DoD”) Defense Production Act (“DPA”) Title III US$15 million award
  

• Extensive historical data validated and incorporated within initial Sunshine MRE to maximise use of and leverage existing funding from U.S. DoD DPA Title III award

• Jervois continues underground development to support extensional drilling of the RAM deposit at ICO with underground drilling underway

• U.S. Government has declared cobalt a critical mineral, and a reserve or price floor to sustain domestic American production has been put forward by the U.S. Congressional Select Committee on the Chinese Communist Party

Jervois Global Limited (“Jervois” or the “Company“) – TheNewswire – April 1st, 2024: (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) is pleased to announce its inaugural JORC/CIM compliant MRE for the Sunshine deposit which, along with the RAM deposit is part of its 100%-owned ICO in the U.S.

This Sunshine MRE has been completed in accordance with modern international geological reporting standards, namely the Australian JORC Code 2012, the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM“) definition standards and best practice guidelines (2014, 2018, 2019), and is reported in accordance with the Canadian Securities Administrations National Instrument (“NI“) 43-101.

The Sunshine MRE was fully funded by the U.S. DoD under the DPA Title III US$15 million award (“Agreement Funding2“), signed in June 2023. The Agreement Funding is under the Manufacturing Capability Expansion and Investment Prioritization office of the Assistant Secretary of Defense for Industrial Base Policy using the U.S. DPA Title III authorities and utilises funds from the Additional Ukraine Supplemental Appropriations Act.

The Sunshine MRE represents the first completed objective of the programme under the DoD Agreement Funding to advance U.S. cobalt supply chain security. Other initially agreed deliverables with the DoD are well underway, with underground drilling targeting expansion of the existing RAM mineral deposit (see Table 3) as announced on 27 March 2024,3 and a Bankable Feasibility Study (“BFS“) on a U.S. cobalt refinery also advancing.

Mineral Resources

The MRE for the Sunshine deposit is presented below (Table 1) at a series of cut-off grades (“CoGs“) including 0.25% cobalt (“Co“) CoG which has been selected for current reporting.

Sunshine verification drilling completed in 2023 was successful in confirming the validity of ICO’s historic Sunshine dataset across both the Sunshine and Sunshine East deposits (collectively referred to as “Sunshine“) and provides confidence in its ability to generate reasonable confidence in developing a quantitatively accurate MRE. As part of the drilling efforts, robust QA/QC protocol already in place from recent RAM resource drilling campaigns was utilised to ensure accuracy in reporting of the Sunshine MRE. By validating the available historic data for the Sunshine deposit, ICO is able to maximise its resource expansion efforts under its DPA Title III Agreement Funding as the focus of activity shifts towards the RAM resource extensional drilling programme.

RAM extensional drilling is now underway within the ICO underground mine, with further mine drift development continuing to advance towards future planned drilling locations. Under the existing Agreement Funding ICO expects to continue drilling operations throughout 2024 to support an updated RAM MRE.

Table 1: Sunshine Inferred Mineral Resources

2024 Sunshine MRE
Co Cut-off (%)	Metric tonnes	Co (%)	Co (lbs)	Cu (%)	Cu (lbs)	Au (g/t)	Au (Oz*)
0.15	750,000	0.41	6,770,000	0.78	13,010,000	0.46	11,110
0.20	620,000	0.46	6,280,000	0.71	9,750,000	0.48	9,550
0.25	520,000	0.50	5,750,000	0.68	7,770,000	0.49	8,210
0.30	400,000	0.57	5,030,000	0.57	5,010,000	0.51	6,550
0.35	320,000	0.63	4,470,000	0.50	3,540,000	0.52	5,330

Notes:

1. Mr. Andrew Turner, P.Geol. of APEX Geoscience Ltd., a Qualified Person as defined by NI 43-101 and a Competent Person as defined by JORC, is responsible for the completion of the inaugural Sunshine mineral resource estimation, with an effective date of March 31, 2024.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

4. 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 potentially be upgraded to an Indicated Mineral Resource with continued exploration.

5. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

6. The Sunshine cut-off grade of 0.25% Co is based on an estimated process cost and GA cost of $154.00/t, due to narrow mineralized horizons, and metal prices of US$25.00/lb Co, US$3.00/lb Cu, and US$1750/troy oz Au, with process recoveries of 91.0% Co, 95.4% Cu, and 84.9% Au. An average contribution of 21% to Co payable values from Cu and Au has been assumed based upon the relative concentrations of the payable metals within the reported resources.

7. The reported mineral resources are constrained by manually created wireframe solids (mineable shapes) that encapsulate contiguous blocks demonstrating reasonable prospects for eventual economic extraction within the mineable shapes.

Estimation parameters used to calculate the 2024 Sunshine MRE are discussed in greater detail below. The Sunshine MRE utilises nominal 5-ft (~1.5m) composite lengths. Where composited intervals exceed this nominal length, length average compositing is employed to limit “orphaned” data, otherwise excluded from the MRE. Density data for the Sunshine deposit is determined on a domain basis of mineralised vs. non-mineralised bulk density utilising density values collected throughout the 2023 resource verification drilling campaign. Figure 1 below shows the spatial distribution of 2023 drilling, in plan view. Density samples were collected within both mineralised and non-mineralised zones across all 2023 drillholes.

Figure 1: 2023 Sunshine Resource Verification Drilling Spatial Distribution

Click Image To View Full Size

The Sunshine MRE is derived through ordinary kriging, with unrotated block sizing of 8 ft x 8 ft x 8 ft, with sub-blocking constrained by mineralised wireframe volumes. Through incorporating 1,100m of 2023 resource verification drilling, employing robust QA/QC protocol and accurate surficial and downhole geospatial surveying techniques, the Sunshine MRE is able to utilise historic data within its modern estimation practices. The grade-tonnage sensitivity for the current Sunshine MRE is shown in Table 1 above.

The Company’s long-term forecasted metal prices, used for the evaluation of the reporting cut-off grade for the 2024 Sunshine MRE, remain unchanged from those utilised in the 2023 ICO MRE and BFS, which are tabulated in Table 2 below.

Table 2: US$ Metal Prices for Resource CoG Determination

Metal	Values (US$)	Unit
Cobalt	$25.00	/lb
Copper	$3.00	/lb
Gold	$1,750	/tr.oz.

With the successful completion of its Sunshine resource verification drilling and MRE, Jervois’ ongoing DPA Title III efforts are focussed on expanding the Indicated and Inferred depth continuity of the RAM MRE down-dip of the deposit’s central zone and along strike to the north. Underground development of exploration drill stations continues, with the underground drilling rigs and crews successfully mobilised to ICO in March 2024 to commence the extensional drilling initiatives.

MRE Methodology

Modelling was conducted in local Mine Grid coordinates (in US feet). The MRE block model utilised an unrotated block size of 8 ft (X) x 8 ft (Y) x 8 ft (Z) to honour the mineralisation wireframes. The percentage of the volume of each block below the bare earth surface and within each mineralisation domain was calculated using 3D geological models and a 3D surface model.

The Sunshine drillhole database consists of 105 drillholes that intersect the interpreted mineralisation wireframes. The Co, Cu, and Au assays were composited to 5-foot composite lengths and the estimation utilised 1,600 composited samples. Unsampled intervals within the interpreted mineralisation wireframes, assumed to be waste, are assigned a nominal waste value of half the detection limit of modern assay methods (0.005 % Co, 0.005 % Cu, 0.0025 g/t Au).

Estimation of Co, Cu, and Au grades was completed using Ordinary Kriging in separate estimation passes for the interpreted primary Co and Cu mineralised zones of the deposit. The search ellipsoid size used to estimate each metal was defined by the modelled variograms. Block grade estimation employed locally varying anisotropy, which uses different rotation angles to define the principal directions of the variogram model and search ellipsoid on a per-block basis. Blocks were estimated exclusively for Co (Domain A) and Cu (Domain B) domains and stitched together where primary mineralisation wireframes intersect using weighted ratings for estimated values where Co/Cu domains intersect of 80%/20%, respectively. The number of variogram structures, contributions of each structure, and their ranges are set per estimation domain and do not vary within the estimation domain.

A total of 398 bulk density samples are available from the ICO drillhole database for Sunshine, of which, 60 are within the modelled estimation domains. Jervois’s geological adviser, APEX Geoscience Ltd. (“APEX“) performed exploratory data analysis of the bulk density samples available and the density was assigned for mineralised and non-mineralised zones of the Sunshine deposit. The density of the deposit ranged from 2.68 g/cm3 to 3.24 g/cm3, with a mean density value of 2.89 g/cm3 assigned for interpreted mineralised zones. Non-mineralised country rock was assigned a density of 2.80 g/cm3. Density values for the Sunshine MRE are aligned with those of the nearby RAM deposit and are believed to be of sufficient confidence for use in the current resource estimate of the Sunshine deposit.

There are no other factors or issues of which the JORC Competent Person (“CP“), NI 43-101 Qualified Person (“QP“), is aware that would materially affect the current Sunshine MRE other than normal risks faced by all mining projects. Sunshine, and the ICO as a whole, is subject to the same types of risks that large base metal projects experience at an early stage of development in U.S. The nature of the risks relating to ICO will change as the mine evolves and more information becomes available. The Company has engaged experienced management and specialised consultants to identify, manage and mitigate those risks.

Idaho Cobalt Operations Consolidated Mineral Resource Statement

Table 3 below provides a consolidated Mineral Resource Statement for the Idaho Cobalt operations including its RAM MRE5 reported current on 19 April 2023 and its inaugural Sunshine MRE (subject of this release). The Sunshine and RAM deposits are wholly contained within Jervois’ contiguous claims group as part of the ICO.

Table 3: ICO Consolidated Mineral Resource Statement

	Metric tonnes	Co (%)	Co (lbs)	Cu (%)	Cu (lbs)	Au (g/t)	Au (Oz*)
RAM4,5
Measured	460,000	0.70	7,100,000	1.16	11,800,000	0.783	11,500
Indicated	3,320,000	0.50	36,500,000	0.79	58,000,000	0.504	54,000
RAM5,6
Inferred	1,590,000	0.51	18,000,000	0.92	32,300,000	0.645	33,000
Sunshine6
Inferred	520,000	0.50	5,750,000	0.68	7,770,000	0.493	8,200
Totals
M&I	3,780,000	0.52	43,600,000	0.84	69,800,000	0.538	65,500
Inferred	2,110,000	0.51	23,200,000	0.86	40,000,000	0.608	41,300

* Troy ounce

Notes:

1. Mr. Andrew Turner, P.Geol. of APEX Geoscience Ltd., a Qualified Person as defined by NI 43-101 and a Competent Person as defined by JORC, is responsible for the completion of the inaugural Sunshine mineral resource estimation, with an effective date of March 31, 2024, as well as the previously reported and current RAM MRE with an effective date of April 19, 2023.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

4. 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 potentially be upgraded to an Indicated Mineral Resource with continued exploration.

5. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

6. The Sunshine cut-off grade of 0.25% Co is based on an estimated process cost and GA cost of $154.00/t, due to narrow mineralized horizons, and metal prices of US$25.00/lb Co, US$3.00/lb Cu, and US$1750/troy oz Au, with process recoveries of 91.0% Co, 95.4% Cu, and 84.9% Au. An average contribution of 21% to Co payable values from Cu and Au has been assumed based upon the relative concentrations of the payable metals within the reported resources.

7. The RAM cut-off grade of 0.20% Co is based on an estimated process cost and GA cost of US$123.17/t, and metal prices of US$25.00/lb Co, US$3.00/lb Cu, and US$1750/troy oz Au, with process recoveries of 91.0% Co, 95.4% Cu, and 84.9% Au. An average contribution of 22% to Co payable values from Cu and Au has been assumed based upon the relative concentrations of the payable metals within the reported resources.

8. The reported mineral resources are constrained by manually created wireframe solids (mineable shapes) that encapsulate contiguous blocks demonstrating reasonable prospects for eventual economic extraction within the mineable shapes.

Quality Assurance

All drill core samples are sent to ALS Global Laboratories (Geochemistry Division), an independent and fully accredited laboratory (ISO 9001:2008), in Vancouver, Canada, for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy. Jervois employs a regimented Quality Assurance, Quality Control (“QA/QC“) program where at least 10% duplicates, blanks and certified reference material are inserted into each sample shipment. An examination of the QA/QC data associated with the recent Sunshine verification drilling completed at the ICO was conducted by APEX as part of its initial drilling database validation work and no issues were identified.

Historic Sunshine drill core samples were analysed by independent laboratories Chemex Labs Inc, of Sparks, Nevada and Vancouver, Canada, as well as Bondar Clegg Laboratories Inc. of Reno, Nevada and Vancouver, Canada, both of which were subsequently acquired by ALS Global Laboratories.

On behalf of Jervois Global Limited

Bryce Crocker, Chief Executive Officer

For further information, please contact:

Investors and analysts: Alicia Brown Group Manager – External Affairs Jervois Global [email protected]

Media: Nathan Ryan NWR Communications [email protected] Mob: +61 420 582 887

Competent Person’s Statement

The information in this release that relates to Mineral Exploration is based on information compiled by Andrew Turner, P.Geol. who is a consultant for the company and a member of The Association of Professional Engineers and Geoscientists of Alberta. Andrew Turner has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Andrew Turner consents to the inclusion in the release of the matters based on the information in the form and context in which it appears.

Qualified Person’s Statement

The technical content of this news release has been reviewed and approved by Andrew Turner, P.Geol., a consultant for the Company and a Qualified Person as defined by National Instrument 43-101.

Forward-Looking Statements

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”, “expected” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the timing of drilling operations at ICO, the outcome of the drilling program, timing of an updated resource model and certain other factors or information. Such statements represent Jervois’ current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Appendix 1:

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Sampling is by diamond drill coring with robust QA/QC, geologic and survey standards implemented in 2023 to verify the validity of historic datasets. The 2023 half-core was sampled along a “cut-line” drawn by the logging geologists along the length of the drill core as a guide for the core sawing, ensuring that the same side was consistently sampled and placed into sample bags labelled with the assigned sample number to verify the accuracy and integrity of historic data. Downhole measurements for the 2023 drilling campaign are recorded using a Reflex OMNI Gyro at 30 metre intervals down each hole and at 1.5 to 6.0 metre intervals continuously at the end of every hole. Historically, samples were collected via trenching above the Sunshine surface expression. Results of this historic trench sampling are included for resource domaining and estimation where valid composites are identified. Core was collected directly from the core barrel into core boxes, and drill core was either cut in half by diamond saw (Post-1996) or by hand splitting (Pre-1996), with one half of the core collected for laboratory analysis and the other half retained as reference core in the tray. Core trays were clearly labelled with the hole number, tray number and depth intervals marked. Prior to 2023, Sunshine downhole orientation measurements were conducted using a single-shot Sperry Sun instrument at the bottom of the drillhole, with a second measurement at approximately half way down in holes longer than 100 metres. All drill core was sampled contingent on geology and core recovery: Field sampling followed Jervois’ protocols including industry standard quality control procedures. 2023 samples were sent to: ALS Geochemistry-Vancouver, an independent and fully accredited laboratory in Vancouver, Canada (“ALS“) for analysis for gold by 30g Fire Assays with wet chemical finish (ICP) and by multi-element Induction Coupled Plasma Spectroscopy (“ICP“) for verification of historical analyses. 2023 check samples are to be analysed for gold by 30g Fire Assay with ICP finish and by multi-element (34) ICP for cobalt and copper by SGS Canada Inc. of Burnaby, Canada. Jervois also has a regimented Quality Assurance, Quality Control (“QA/QC“) program where at least 10% standards and blanks are inserted into each sample shipment. Pre-2023 Sunshine samples were sent to: Chemex Labs Inc. (“Chemex“) of Sparks, Nevada and Vancouver, Canada and Bondar Clegg Laboratories Inc. (both subsequently acquired by ALS) of Reno, Nevada and Vancouver, Canada for analyses for cobalt and copper by Atomic Absorption (“AA”) and multi-element analyses by ICP, as well as 30g Fire Assays with AA finish for gold. Check sample analyses conducted by Ecotech Laboratories Ltd. Of Kamloops, Canada for historic data in 1996. Sample representivity is ensured by: Diamond Core: core samples are “representative” (and not “selective”) in that each sample comprised half (cut/split) core that was collected along the entire length of each sample interval. Handheld XRF instruments were used to spot check drill core for mineralisation, however those results were not relied on. All sample results reported on are from ALS (or its acquired predecessors), an independent ISO accredited laboratory. All of the drilling was diamond drill core (HQ/NQ). Typically, 2023 drill core was sampled on nominal 3 foot (~1m) half core samples for HQ/NQ. Historic sampling ranged from 0.60 feet to 16 feet (~0.2m to 4.9m) with samples in excess of 10 feet (~3m) providing immaterial impact to grade or tonnage within wireframed MRE volumes. Samples are received at the laboratory (2023): Bar codes are scanned and logged; samples are weighed and dried; samples are crushed to 70% less than 2mm, the crushing product is riffle split to collect a 250g split, which is pulverized to better than 85% passing 75 microns; aliquots from the pulverized split (the sample “pulp”) are analysed for 34 elements using ICP analysis and for gold by 30 gram Fire Assay with ICP-AES finish. Any samples with initial “over-limit” results for specific metals, including gold, copper, cobalt and arsenic are re-analysed accordingly to achieve complete results. Historic samples were received at the company facility by a laboratory employee (Pre-2023).
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Surface drilling within the deposit is comprised of both NQ and HQ sized core. Holes were generally angled from -45 to -80 degrees at varying azimuths.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	All holes are logged for basic geotechnical characteristics including measurements and calculations for core recovery and RQD values. Core recovery is recorded as a percentage equivalent to the length of core recovered, as a percentage of the drill run (interval length). Excellent recoveries were obtained from the 2023 diamond drilling. Historic assessments (2005) of drilling prior to 1999 demonstrated excellent core recoveries as well. There is no bias noted between sample recovery and grade. Excellent recoveries were obtained from Diamond drilling other than in faulted zones which were not sampled.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Diamond drilling (2023): Drill core is photographed and logged prior to sampling; Core has been geologically and geotechnically logged to a level of detail appropriate to support mineral resource estimation and preliminary mining studies. Logging has been conducted both qualitatively and quantitatively; full description of lithologies, alteration and comments are noted, as well as percentage estimates on veining and sulphides. The total length of all Sunshine holes drilled in 2023 was 1,263m. All depths of relevance from 2023 Sunshine drilling have been previously released (See ASX announcement “Jervois completes U.S. Department of Defense reimbursed drilling at ICO’s Sunshine deposit”, 30 January 2024). All drill holes are logged in their entirety. Diamond drilling (Pre-2023): Drill core analyses and orientations were reviewed relative to the 2023 drillholes. No significant issues (offsets) were noted with respect to the location of mineralized zones in the 2023 vs the pre-2023 drilling and APEX considers the historical drilling to be suitable for use in the current Sunshine MRE. The total length of the historic Sunshine drilling is 18,804m.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	All core was half-cut lengthwise using a diamond saw or mechanically split, historically. The HQ/NQ half-core was sampled. Industry standard quality control procedures were implemented for all 2023 Sunshine drilling. The details of drillhole sampling, preparation, security and QC methodologies are not well documented and the majority of the historical Sunshine drilling was conducted prior to the adoption of the standards set forth by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards and best practice guidelines (2014, 2018, 2019), and Canadian National Institute (“NI”) 43-101 (2001). That said, APEX has no reason to doubt the veracity or quality of the historical drill data from the Sunshine area, particularly given the results of the 2023 drilling completed by Jervois that verified the location, extent and tenor of the historical mineralisation at the Sunshine and East Sunshine areas. Samples are received at the laboratory (2023): sample ID bar codes are scanned and logged; samples are weighed and dried; samples are crushed to 70% less than 2mm, the crushing product is riffle split to collect a 250g split, which is pulverized to better than 85% passing 75 microns; aliquots from the pulverized split (the sample “pulp”) are analysed for 34 elements using ICP analysis and for gold by 30 gram Fire Assay with ICP-AES finish. Any samples with initial “over-limit” results for specific metals, including gold, copper, cobalt and arsenic are re-analysed accordingly to achieve complete results. For core sampling the same side is consistently sampled, half-core is retained in the tray for HQ/NQ. The assay sub-sample is placed into sample bags labelled with the assigned sample number. Approximately one in 20 samples is duplicated where the core is quartered and a quarter cut sample is analysed as a duplicate. The remaining quarter sample is retained in the tray. Sample sizes of 2-3 kg are appropriate for the grain size of material. The sample preparation technique and sample sizes are considered appropriate to the material being sampled.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	The ICP-AES and Fire Assay (30 gram) analytical techniques are considered total and are high quality and appropriate for the mineralisation being tested. Post-1996 QA/QC review conducted on historical analytical results found the check samples, along with inserted blanks and standards to be in good agreement with expect values, less one blank sample with low cobalt and high copper values. Jervois has a regimented Quality Control protocol for all modern drilling which has consisted of systematic submission of blanks, standards and duplicates in addition to those conducted at the laboratory. Precision levels for all blanks, standards and duplicate samples fell within acceptable ranges with the exception of one blank from 1996 QA/QC review that returned high copper values.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Significant intersections are alternatively verified by the CP and QP of the company. No holes have been twinned in this drill programme. Data is collected using a PostGRE SQL database custom-built for Idaho Cobalt Operations and incorporates historic MS Excel templated data. The database software includes data validation algorithms. The database software also allows for the direct importation of digital data files from the laboratory. Data is backed up on the cloud hosted server on and off site. All modern assay/analytical data returning “below detection limit” results have been entered in the project database as one half of the detection limit value. Samples received damaged at the laboratory, or with insufficient sample weight for analysis had the interval or location assigned at half the detection limit value. Intervals within resource wireframes, not containing viable assay information for either cobalt, copper or gold, have been assigned a half detection limit value appropriate for analytical methods available at the time of analyses.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	All surface drilling collars for modern verification drilling were surveyed by licensed surveyors. Down-hole surveys were routinely carried out on all holes using a Reflex OMNI Gyro at 30 metre intervals down each hole and at 1.5 to 6 metre intervals continuously at the end of every hole. Holes were setup on collar using a Reflex TN14 GyroCompass. Historic drilling collars were located by tight chain and compass from the nearest known point, with the majority of pre-1998 collars resurveyed using a transit survey tool by licensed surveyors throughout 1998. All datum is collected and recorded in a localized ICO Mine Grid. The 3D location of the individual samples is considered to be adequately established, consistent with accepted industry standards and verified against modern drilling practices.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	Data spacing is considered adequate for the purpose of the program. The program’s intent was to verify historic datasets with the intention of validating historic drilling spatially and for grade using modern techniques. The intervals released are within the existing Sunshine deposit Historic MRE and are interpreted as defining geological continuity within the various mineralisation horizons. As a result, this data is determined to be of sufficient continuity and accuracy to support estimation procedures and classifications as determined in this release. The reported drillhole data comprises uncapped, length-weight averaged core interval composite grade values.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Drilling sections are orientated perpendicular to the strike of the host rocks where practicable and moderately oblique where drill access is limited. Drill holes were inclined between -45 and -80 to optimize intercepts of mineralisation with respect to thickness and distribution. Drilling with angled holes in most instances provides a representative sample across the stratigraphy with no concern of sampling bias.
Sample security	The measures taken to ensure sample security.	Under modern QA/QC and security practices, all individual samples are placed in plastic sample bags sealed with a cable tie. Then groups of samples are bagged in poly-woven sacks also sealed with a cable tie. The samples are sent by courier to the lab and tracked. To date, no sample shipments have had reported problems and/or a breach in security. The verification of historic data by modern analytical results and security measures indicates no concern with the integrity of historic data.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Jervois protocols consist of a regimented internal QA/QC which match or exceed global industry standards. APEX Geoscience Ltd. has been retained as independent geological consultants and have reviewed and approved the ICO sampling protocols and procedures and have conducted a thorough review of the drill data, including the QA/QC data pertinent to this release.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	ICO consists of 358 unpatented mineral claims totalling 2,990 hectares (7,390 acres). The claims are 100% owned by Jervois subsidiary Jervois Mining USA Ltd. and are in good standing. Unpatented Mineral Claims: Ownership of unpatented mining claims in the U.S. is in the name of the holder, with ownership of the minerals belonging to the United States of America, under the administration of the U.S. Bureau of Land Management. Under the Mining Law of 1872, which governs the location of unpatented mining claims on federal lands, the locator has the right to explore, develop and mine minerals on unpatented mining claims without payments of production royalties to the federal government. Annual claim maintenance and filing fees paid before September 1st each year are the only federal encumbrances to unpatented mining claims. Exploration plans are permitted and administered by the Unites States Forestry Service. The United States Department of Agriculture Salmon Challis National Forest (the “Forest Service“) issued a revised Record of Decision (the “ROD“) for the ICO in January 2009. The ROD described the decision to approve a Mine Plan of Operations (“MPO“) for mining, milling and concentrating mineralised material from the ICO. The ROD was subsequently affirmed by the Forest Service in April 2009. The Plan of Operations at the ICO mine and mill remained unchanged and the ROD remains in place. In December 2009, the Forest Service approved the MPO allowing for the commencement of ICO construction. There are no known encumbrances.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The ICO came under Jervois management following the merger with eCobalt in 2019. Prior to this merger, the area has a long history of copper and cobalt exploration and mining. Copper mineralisation in the Blackbird Creek area was discovered in 1892, and the area was soon explored as both a copper and gold prospect. The area was first mined by Union Carbide at the Haynes-Stellite Mine located south of the present ICO claim block, during World War I. Union Carbide mined approximately 4,000 tons of cobalt-bearing ore before ceasing operations. From 1938 to 1941, the Uncle Sam Mining and Milling Company operated a mine at the south end of the present Blackbird mine and reportedly mined about 3,600 tons of ore. Calera Mining Company, a division of Howe Sound Company, developed and mined the Blackbird deposit between 1943 and 1959 under a contract to supply cobalt to the U.S. government. Calera stopped mining when the government contract was terminated in 1960. Machinery Center Inc. mined from the district between 1963 and 1966, when Idaho Mining Company (owned by Hanna Mining Company) purchased the property. Noranda optioned the property from Hanna in 1977 and carried out extensive exploration, mine rehabilitation and metallurgical testing. In 1979 Noranda and Hanna formed the Blackbird Mining Company (BMC) to develop the property. BMC completed an internal feasibility study of their property at the time, including material from the Sunshine deposit in 1982. BMC allowed perimeter claims to lapse in 1994, and eCobalt re-staked much of that ground. From 1995 to the present, eCobalt completed surface geochemical sampling and drilled 71 diamond drill holes on the Sunshine deposit (158 total on the ICO ground).
Geology	Deposit type, geological setting and style of mineralisation.	Deposit Types: Whilst the deposits in the Idaho Cobalt Belt have been studied over many years the deposit types are still a subject of debate. Prior to 2005 the overriding opinion was that the deposits are sedimentary exhalative and are referred to as the Blackbird Sediment Hosted Cu-Co. And have been described as stratabound iron-, cobalt-, copper-, and arsenic-rich sulphide mineral accumulations in nearly carbonate-free argillite/siltite couplets and quartzites. Post 2005, the discovery of high concentrations of rare earth elements (“REE“) lead to the postulation that the deposits are not volcanogenic massive sulphide or sedimentary exhalative deposits but instead are iron oxide-copper-gold (“IOCG“) deposits. Geological Setting: The Sunshine and Ram deposits are located on the same Property (claim block) and are thus both part of Jervois’ Idaho Cobalt Operations (ICO). The ICO is situated within the Idaho Cobalt Belt, a 50- to 55-kilometre long metallogenic district characterised by stratiform/tabular copper-cobalt deposits. The deposits are hosted by a thick, dominantly clastic sequence of Middle Proterozoic age sandwiched between late Proterozoic quartz monzonitic intrusions. The clastic sediments were deposited in a large fault-bounded basin, probably as large submarine fan complexes and/or deltaic aprons that were frequently “drowned” by continuing subsidence within the basin. All significant copper-cobalt deposits and occurrences are found in the Proterozoic Apple Creek Formation, which constitutes the base of this sequence. This formation was originally correlated with Pritchard Formation metasediments of the Belt supergroup to the north, its age being constrained by dates of 1.37 Ga for adamellites intruding the sequence and 1.7 Ga from mafic dykes and sills emplaced along the basin margin faults. The structure of the Apple Creek Formation is dominated by the regional rift structure. Cobalt-copper-gold mineralisation occurs along a northwest-southeast trending structure parallel to and west of the central axis of the rift. There is a series of northerly trending faults that are considered to represent initial growth faults, reactivated by Laramide and younger events. The district has also been affected by north-easterly structures of the Trans-Challis Fault Zone. The ICO is hosted in Proterozoic age meta-sediments found on the east side of the central Idaho Batholith comprising granitic-to-granodioritic rocks. The Idaho Cobalt Belt represents a distinct district dominated by stratabound cobalt + copper gold mineralisation, with a remobilised constituent. The district is underlain by strata of the middle Proterozoic-age Apple Creek Formation, which is an upward-thickening, upward-coarsening clastic sequence at least 14,900 metre thick that represents a major basin-filling episode and was formerly considered part of the Yellow Jacket Formation. The Apple Creek can be divided into three units. The lower unit of the Apple Creek Formation is over 4,500 metre thick and consists mainly of argillite and siltite, with lesser occurrences of fine-grained quartzite and carbonates. Graded bedding and planar to wavy laminae are common in the lower unit, which is locally metamorphosed to phyllite. The middle unit of the Apple Creek Formation is up to 1,100 metres thick and comprises several upward-coarsening sequences of argillite, siltite, and quartzite, with distinctive biotite-rich interbeds that generally have a direct correlation to mineralisation. The middle unit hosts the majority of the known cobalt, copper and gold occurrences in the Idaho Cobalt Belt. The upper unit exceeds 3,000 metres in thickness and is predominantly composed of thin- to thick bedded, very fine- to fine-grained quartzite. Mafic tuffs within the Apple Creek Formation are the oldest igneous rocks exposed in the Sunshine-Blackpine district. They are accompanied by felsic tuffs and carbonatitic tuffs. Some mafic dikes and sills intrude the Apple Creek Formation and may be comagmatic with the mafic tuff beds. Several small lamproitic diatremes may also be coeval with mafic volcanism. The Apple Creek Formation has undergone varying degrees of regional metamorphism, ranging from greenschist facies in the southern part of the district to amphibolite grade facies in the northern part of the district. Several types of mafic dikes and sills, ranging from 1m to 30m thick, intrude the Apple Creek Formation and are interpreted as feeders to the exhalative mafic tuffs, which are most abundant in areas of intrusive activity. Style of Mineralisation: Mineralisation at the ICO is characterized as syngenetic, stratiform/tabular exhalative deposits within, or closely associated with, the mafic sequences of the Apple Creek Formation. This mineralisation is dominantly bedding concordant and the deposits range from nearly massive to disseminated. Some crosscutting mineralisation is present that may be in feeder zones to the stratiform mineralisation or may be due to remobilisation locally into fracture quartz veins and/or crosscutting structures. Dominant minerals include cobaltite (CoAsS) and chalcopyrite (CuFeS2), with lesser, variable occurrences of gold. Other minerals present in small quantities are pyrite (FeS2), pyrrhotite (FeS), arsenopyrite (FeAsS), linnaeite ((Co Ni)3S4), loellingite (FeAs2), safflorite (CoFeAs2), enargite (Cu3AsS4) and marcasite (FeS2). Recently, rare-earth minerals have been identified in samples from the deposit as monazite, xenotime and allanite. At this time, these minerals have not been considered for potential recovery as by-products of the Co-(Cu-Au). The RAM is the largest and best-known deposit in the ICO area. It consists of a Hanging-wall Zone with 3 primary and 4 minor horizons, a Main Zone comprising 3 horizons, and a Footwall Zone with 3 horizons. These sub-parallel horizons generally strike N15oW and dip 50o – 60o to the northeast. Most of the significant Co mineralisation is associated with exhalative lithologies i.e. biotitic tuffaceous exhalate (BTE), siliceous tuffaceous exhalate (STE), and quartzite with impregnations of biotitic tuffaceous exhalate (QTZ/BTE) or siliceous tuffaceous exhalate (QTZ/STE). The Sunshine zone is a proximal zone of mineralisation comparable to that of the RAM to the north with numerous sub-parallel mineralised horizons of varying continuity and grade concentration. The sub-parallel Sunshine horizons generally strike similarly to those of the RAM at N15oW and dip 60o – 70o to the northeast with significant mineralisation present across similar lithologies to those present within the RAM.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Exploration data for the 2023 Sunshine drillholes completed by Jervois were presented in a prior release (See ASX announcement “Jervois completes U.S. Department of Defense reimbursed drilling at ICO’s Sunshine deposit”, 30 January 2024). .
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	Drilling data reported for the Sunshine deposit has been reported without grade truncation, on a weighted average basis, inclusive of geologically representative, higher grade intercepts. Aggregate intercepts are reported using a grade metre calculation. For example: ((assay x meter interval sampled) + (assay x meter interval sampled) + (assay x meter interval sampled) / divided by total number of meters in the interval). Calculated true widths determined for the composited intercept mid-point, perpendicular to the down-dip projection of the Sunshine deposit target models derived from Sunshine drilling. No metal equivalent values have been reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Downhole lengths and calculated true width lengths are both reported.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to figures and tables in the body of the text and to prior releases (See ASX announcement “Jervois completes U.S. Department of Defense reimbursed drilling at ICO’s Sunshine deposit”, 30 January 2024.).
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Calculated true widths determined and reported for all 2023 composited intercept mid-points, perpendicular to the projection of the Sunshine deposit target models derived from Sunshine drilling, have been reported for the program. Balanced selections indicative of historic drilled intercepts have been provided previously alongside exploration drillhole reporting (See ASX announcement “Jervois completes U.S. Department of Defense reimbursed drilling at ICO’s Sunshine deposit”, 30 January 2024).
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	There is no other substantive exploration data.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	No immediate further work for the Sunshine deposit is planned at this time. Provided this inaugural Sunshine MRE is of inferred nature, further definition drilling is recommended prior to any detailed mining study to provide greater confidence in the Sunshine Mineral Resource Classification.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. Data validation procedures used.	Jervois utilises a robust database system for analytical data management that involves multiple cross-checks between digital datafiles provided by the laboratory and the archived data files. Additionally, APEX Geoscience Ltd. (“APEX”), geological consultants to Jervois, conducted additional data validation checks involving examinations of analytical certificates, provided directly to APEX by ALS (analytical laboratory), and no issues were identified. Following data validation checks, APEX deemed the ICO drilling and analytical databases, provided by Jervois, to be suitable for use in the geological modelling and resource estimation work that is the subject of this release.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits. If no site visits have been undertaken indicate why this is the case.	APEX was initially contracted by Jervois to provide geological services at the ICO shortly after underground development at the project was initiated in the fall of 2021. The Competent Person, Andrew J. Turner, P.Geol. (Canada), has visited the ICO on many occasions since that time and has personally observed and sampled mineralisation at Sunshine thus verifying the nature of the Sunshine zone that is the subject of this release. Additionally, Mr. Turner visited site whilst the drilling programme was occurring to verify all QA/QC and operational protocol were actively in effect.
Geological interpretation	Confidence in (or conversely, the uncertainty of ) the geological interpretation of the mineral deposit. Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource estimation. The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology.	There is a sufficient degree of confidence in the geological model underlying the Sunshine MRE as currently classified following the completion of modern verification drilling and subsequent analyses against historical datasets. The data utilized in the geological modelling of the Sunshine mineralisation is based on geological logging of surface exploration drilling, as well as historical trench data obtained from the surface expression of the deposit. The only assumptions made concern the exact relationship between the multiple sub-parallel horizons containing mineralisation and whether the zones anastomose or are explicitly separated by narrow zones of country rock between drillhole intercepts. There are no viable alternative geological interpretations of the Sunshine mineralisation. The mineralisation at Sunshine is interpreted according to the established model for Sediment-hosted Co-Cu deposits, which includes stratabound, replacement-style mineralisation. As a result, the interpreted geology is an important control on the interpreted mineralisation. However, there does not appear to be a perfect correlation between a specific geological unit and the ICO mineralisation. Instead, the mineralised horizons at Sunshine have been interpreted as sub-parallel grade shells constrained within the moderate-to-steeply east-dipping stratigraphy. Other than the normal geological controls on mineralising fluids, there are no other unusual controls on grade continuity at Sunshine. Grade continuity throughout the Sunshine deposit at the ICO is supported by extensive historical drilling, including the results of the 7-hole 2023 verification drill programme (see ASX Announcement dated 30 January 2024). There is no evidence of any significant structural controls on mineralisation within the modelled Sunshine deposit.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	Strike Length: 550m (1,800ft) Down-Dip Extent: 120 – 260m (400 – 850ft) from surface Thickness ~0.5 – 3.4m (1.5 – 11 ft), averaging ~1.75 – 2.10m
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. The assumptions made regarding recovery of by-products. Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control the resource estimates. Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	The Sunshine drill database comprises 5,490 samples, of which 1,175 are non-waste samples occurring within the Sunshine deposit domains, which have a mean sample length of 2.13 ft (0.65 m). The cobalt, copper, and gold (where available) analytical data for these samples was composited to 5-foot composite lengths and the estimation considered 1,600 composites within the modelled estimation domains. To prevent overestimation of metal grades due to “outlier” values, composites are capped to maximum values, as determined from the examination of probability plots. Cobalt, copper, and gold estimation was completed using Ordinary Kriging. Block grade estimation employed locally varying anisotropy, which uses different rotation angles to define the principal directions of the variogram model and search ellipsoid on a per-block basis. Blocks within estimation domains are unrotated. To maintain the proper volume-variance relationship, kriges relation is utilised to tune each metal’s estimation kriging and search parameters. Two estimation passes were used, a maximum of 20 conditioning data points are considered during estimation, two composites are required for the first pass, and the number of composites considered per drillhole are limited to two for cobalt, copper and gold’s first pass. Two estimation passes were utilised with maximum ranges varying from 120 – 350; 120 – 230; and 8 – 21 feet in the major, minor, and vertical directions. Given the inferred nature of the estimate and lack of an established mining plan, a standard mining unit (“SMU“) size of 8 x 8 x 8 feet was selected to define the block model populated with estimated metal values which is much less than 25% of the data spacing. Metals are estimated independent of each other. Swath plots verify that the estimated block model honours directional trends and identifies potential areas of over- or under-estimation in grade. Deleterious material (iron, arsenic, total sulphur and sulphide) were not estimated given lack of available data within the historic data repository. The majority of the resource is constrained within a wireframe that encapsulates the Sunshine horizons of greatest grade concentration and continuity, with moderate volumes of estimated resource material occurring proximally in closely-spaced hangingwall and footwall horizons. The current Sunshine MRE was compared to historic resource estimates to validate and understand grade/tonnage variances identified within modern estimation standards.
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	The Sunshine MRE is estimated on a ‘dry basis’, as moisture content is not a significant factor at the ICO.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	Although Co prices have dropped in recent months, the 3-year trailing average price (thru Feb 2024) for Co of $22.21 supports the long-term price of US$25.00/lb Co used in the 2020 ICO Feasibility Study (“FS”) (Sletten et al., 2020) and used here to evaluate the 2024 Sunshine MRE reported Cut-off Grade (“CoG”). The 2020 ICO Feasibility Study estimated total mining costs (mining, processing, G&A) at approximately US$111.86/short ton (or ~US$123.30/tonne). As a reasonable estimate of cost increases due to inflation and an assumed “narrow-vein” mining technique, a 25% increase has been applied to mining and processing costs yielding an anticipated cost of approximately $140/short ton. At 0.25% Co, and using a price of US$25.00/lb (Jervois’ forecast Co price) and a recovery of 91% (the same as that of the Ram deposit, from the 2020 ICO BFS, based on the observed similarity in the mineralisation), each tonne of “ore” would contain approximately US$113.75 of Co. At this Co grade, it is anticipated that there will be an approximate 21-22% increase in gross metal value related to the other payable metals Cu and Au, which is similarly based upon the use of Jervois’ forecast prices and assumed RAM 2020 BFS recoveries for Cu and Au ($3.00/lb and 95.4% for Cu and $1,750/oz at 84.9% for Au). The combined Co, Cu and Au Gross Metal Value is essentially equivalent to the anticipated ~$140 updated mining and processing cost, discussed above. As a result, a CoG of 0.25% Co was used for reporting purposes for the Sunshine deposit MRE that is the subject of this release/announcement.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	The dominant mining method proposed for the ICO is overhand longitudinal short hole back stoping from 12 ft high sills spaced 36 ft vertically (Sletten et al., 2020). The sunshine deposit does not currently contain detailed mining plans but would be conducive to a combination of similar mining methods employed by ICO at smaller scale and drift dimensions and “narrow-vein” mining methods. With respect to the MRE that is the subject of this release/announcement, APEX conducted an evaluation of the resource block model for its reasonable prospects for eventual economic extraction that involved a review of grade continuity relative to “mineable shapes”, both in the X-Y plane, as well as the Z direction relative to a presumed minimum mining width of approximately 1.5m (~5 ft). This analysis resulted in the exclusion of a small number of “discontinuous” blocks and narrow proximal horizons with Co values above the cut-off grade.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	The 2020 ICO Feasibility Study utilized average recoveries of 91.0% for Co, 95.4% for Cu and 84.9% for Au, and the Co recovery was factored into the Cut-off Grade calculation (see above). Given the close relationship between the Sunshine deposit and the RAM deposit, evaluated in detail within the 2020 Feasibility Study, metallurgical factors were assumed consistent, with the decision supported by geological comparisons between the two deposits.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	Tailings and Waste Rock management are all discussed in detail in the 2020 ICO Feasibility Study (Sletten et al., 2020), which includes minimal surface storage of “process residue” and waste rock as the majority of both will be returned to the underground as paste backfill or CRF (concrete rock fill), respectively. A fully lined TWSF (Tailings and Waste rock Storage facility has been constructed at the ICO
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	The 2024 Sunshine MRE included the modelling of numerous mineralised zones of similar characteristics within the Sunshine deposit. Bulk density values were established as the median Specific Gravity (SG) value for mineralised vs. non-mineralised horizons based on a statistical analysis of the available density data within each. Domain Group (n) Density (g/cm3) (ston/ft3) Mineralised 60 2.89 0.0903 Non-Mineralised 338 2.8 0.0874 2023 SG measurements used to verify SG determinations were made by the logging geologist/geotechnician in the field, primarily from whole core prior to cutting and sampling, using the wet/dry weight method (Archimedes’ principle). All 2023 verification drillholes were subject to SG data collection. Only competent (and geologically representative) pieces of core were selected for SG testing and no significant issues with respect to voids or vugs were noted (either in the SG samples are elsewhere in the core). APEX has reviewed the available density data and has not identified any issues that might affect the results of density testing and has accepted the density dataset for use in the mineral resource estimation work that is this subject of this release/announcement.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories. Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). Whether the result appropriately reflects the Competent Person’s view of the deposit.	The current Sunshine Mineral Resource is stated in accordance with both the JORC Code 2012 and the Canadian Securities Authority (CSA) NI 43-101 rules for disclosure and were estimated in accordance with the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 29, 2019, and CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10, 2014. Because this is an initial MRE for the Sunshine target area, and the limited amount of verification drilling completed at the target in 2023, APEX has taken a conservative approach and has determined that is appropriate to categorise the entire Sunshine MRE as an Inferred Mineral Resource. The maiden JORC compliant Sunshine Mineral Resource Estimate utilised Jervois’ ICO drilling database, which was examined and validated by APEX prior to the initiation of geological modelling and resource estimation in conjunction with the repository of historic drilling data validated by APEX. Validated drillhole data from historic drilling has been added to the ICO drilling database to maintain continuing QA/QC in its handling. APEX is not aware of any other data-related factors that would adversely affect the resource estimation process. The Competent Person considers that the Sunshine deposit mineral resource, which is the subject of this announcement, accurately reflects the Sunshine mineral resource at the ICO.
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	An internal resource audit was conducted by APEX personnel, wherein each stage of the workflow completed by an individual is subsequently reviewed by a different team member. Jervois also conducts an exhaustive review of the methodologies, estimation domains, and statistical data produced by APEX, ensuring a thorough audit and validation of the entire process.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	The Competent Person considers that the Sunshine deposit mineral resource, which is the subject of this announcement, accurately reflects the Sunshine mineral resource at the ICO. The resource classification applied to the current Sunshine resource reflects the Competent Person’s confidence in the estimate. There has been no production at Sunshine to date.

11 See ASX announcement “Jervois completes U.S. Department of Defense reimbursed drilling at ICO’s Sunshine deposit”, 30 January 2024.

2 See ASX announcement “Jervois welcomes U.S. Congressional Select Committee proposal for a reserve to sustain cobalt price”, 13 December 2023.

2 See ASX announcement “Jervois to begin work funded by U.S. Department of Defense to advance U.S. cobalt supply chain security”, 16 June 2023.

3 See ASX announcement “Jervois commences DoD funded drilling at ICO’s RAM deposit”, 27 March 2024.

4 See ASX announcement “Updated RAM resource – opportunity to extend ICO mine life” dated 19 April 2023. In accordance with ASX listing rule 5.23.2, Jervois confirms it is not aware of any new information or data that materially affects the information included in the relevant market announcements referred to above and that the assumptions contained therein continue to apply and have not materially changed.

5 RAM Constrained MRE estimated at CoG of 0.20% Co

6 Sunshine Constrained MRE estimated at CoG of 0.25% Co

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COMTEX_450194759/2895/2024-04-01T18:53:19