Project Overview
Magno Project
Located within the Company’s Magno Project (highlighted in yellow in the map below). The Kuhn claims total 1,100.6 acres and host a historic resource* of 409,300 tonnes at 0.48% WO₃ (tungsten trioxide) and 0.134% MoS₂ (molybdenum disulfide) in the Kuhn North zone.
These estimates are historical in nature and do not meet NI-43.101 standards and therefore should not be relied upon.
Tungsten: A Critical Mineral of Strategic Importance to North America
Tungsten has emerged as a critical mineral of strategic importance due to its unmatched physical properties and indispensable role in high-performance applications. With the highest melting point of any metal and exceptional density and hardness, tungsten is essential to modern defense systems, including armor-piercing munitions, kinetic energy penetrators, and aircraft turbine components. Its resilience to extreme temperatures and wear makes it equally vital in aerospace, advanced manufacturing, and nuclear energy. These characteristics, combined with a lack of viable substitutes, position tungsten as a cornerstone of national security and industrial competitiveness.
However, the global tungsten supply chain faces a significant geopolitical risk. China, which controls over 80% of global tungsten production and refining, enacted strict export controls in February 2025 that have effectively halted shipments of key tungsten products. Though not an outright ban, China has issued no export licenses under the new regime, creating a de facto blockade that has shocked global markets and driven to increased prices and supply uncertainty. This move highlights the urgent need for diversified, secure tungsten supply chains as Western nations confront the strategic vulnerabilities of relying on a single dominant supplier for such a critical resource. Analysts anticipate that Chinese-supplied tungsten may be scarce I,n the global markets driving companies and countries to explore for alternative sources and strategies to mitigate the impact of China's export controls.
Acquisition Highlights:
The Kuhn and Dead Goat properties are in the Cassiar Mining District, British Columbia, and have been explored since at least the 1970s.
Historic drilling by Shell Canada included 17 diamond drill holes totaling 1,766 metres, confirming the presence of high-grade scheelite (CaWO4) and molybdenite (MoS₂).
Well-developed skarn-type mineralization system.
Recent exploration has confirmed significant tungsten and molybdenum mineralization in metasomatic skarn lenses, with ongoing potential for resource expansion
Additional data from the Magno 43-101 Technical Report highlights the potential for significant concentrations of technology-critical metals in addition to the established base metal potential. As global industries face supply shortages in Indium, Tin, Tungsten (as noted above) and strategic base metals like Zinc, Magno presents an attractive opportunity in a geopolitically stable and mining-friendly jurisdiction of Canada.
Beyond its Ag-Zn-Pb and Cu-Mo mineralization, the Magno Property also exhibits unusually high indium (In) grades along with anomalous gallium (Ga) values. These findings not only underscore the property’s potential for hosting significant critical metal resources but also provide an important geological link between the skarn deposits and the prospective granite-hosted Cu-Mo porphyry systems at depth. The presence of indium and variations in the indium/zinc ratio may provide a useful exploration vector to help guide exploration for buried Cu-Mo systems in the district.
* Historical Estimate Disclosure: This resource estimate constitutes a “historical estimate”, as that term is defined in National Instrument 43-101 Disclosure Standards for Mineral Projects (“NI 43-101”). This information is derived from summary report McDame project 82-546-10512, filed by Shell Canada Resources. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and accordingly the estimates may not be relevant or reliable.] The Company is not treating the historical estimate as current. In order to verify the historical estimate, a qualified person needs to review the historical data, review any work completed at the projects since the date of the historical estimate and complete a new mineral resource estimate
