Cullinan Metals Corp. Announces Results of an Airborne MAG/TDEM Survey.
(CSE: CMT) (OTCQB: CMTNF) (FWB: 7KO)
604-669-9788 [email protected] cullinanmetals.com
AIRBORNE SURVEY IDENTIFIES MULTIPLE GRAPHITE EXPLORATION
TARGETS ADJACENT TO LDI GRAPHITE MINE IN QUÉBEC
VANCOUVER, BC. – July 24, 2023 — Cullinan Metals Corp. (CSE: CMT), (OTCQB: CMTNF), (FWB: 7KO) (“Cullinan
Metals” or the “Company”) is pleased to announce the results of an airborne MAG/TDEM survey conducted at
its Lac -des-Îles West Graphite Property (“Lac-des-Îles” or the “ Property”). The survey has revealed exciting
findings that indicate significant potential for graphite mineralization. Particularly, two highly promising
exploration targets, T1 and T2, have been identified north of the Lac des Iles graphite mine (the “LDI”), currently
owned by Northern Graphite Corp (TSXV: NGC) (see Figure 1 below). As the sole significant graphite producer in
North America, the LDI graphite mine has been in operation for over 20 years and is expected to continue
producing up to 15,000 tonnes per year of graphite concentrate over the next two to three years.
The interpretation of the survey data highlights the inf luence of main structural trends in the north -south and
northeast-southwest directions on the distribution of graphite -bearing mineralization within the Property. The
areas with potentially high concentrations of graphite mineralization coincide with the g eological contact
between metasedimentary rocks and quartzites. These areas exhibit high magnetic susceptibility values and
conductivity or EM responses (High Tau Values).
The survey findings demonstrate the potential of the Lac-des-Îles to host graphite mineralization in an extension
of the LDI graphite deposit. The identified areas of interest, characterized by high magnetic gradients and EM
conductivity, have been prioritized for further investigation and represent compelling opportunities for future
graphite exploration.
"We are thrilled with the results of the airborne MAG/TDEM survey at Lac -des-Îles," said Marc Morin, CEO of
Cullinan Metals Corp. "The identification of multiple graphite exploration targets, particularly the significant
zones adjacent t o the LDI graphite mine, highlights the immense potential of our Property. This survey has
provided us with valuable insights that will guide our future exploration efforts as we unlock the full value of this
exciting asset. We remain committed to advancin g our understanding of the graphite mineralization on the
Property and are confident in its prospects for our C ompany's growth and success. The Company has already
planned and initiated the organization of teams for ground follow -up of these targets throug h prospecting,
mapping, and sampling. Stakeholders and interested parties are encouraged to stay updated with the Company’s
news releases and website for the latest information."
The comprehensive geophysical survey, executed in 2023, was conducted by Prospectair Geosurveys of Québec,
Canada, using a high -resolution heliborne magnetic (MAG) and time -domain electromagnetic (TDEM) survey
technique. The survey covered a total of 252 -line kilometers on the Property, utilizing advanced technology to
identify shallow and deep geophysical targets and structures.
Cautionary Statement: Investors are advised that the information regarding the LDI graphite mine has been
sourced from Northern Graphite Corp.'s website ( https://www.northerngraphite.com/project/lac-des-iles-
mine/) and other online sources such as Energie et Ressources naturelles Quebec
(https://www.mern.gouv.qc.ca). The Company is unable to independently verify this information, and it is not
necessarily indicative of the mineralization on the Property, which is the subject of this news release.
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Figure 1: Airborne geophysical survey map showing potential targets for further exploration
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes of National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in
this news release.
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About Lac-des-Îles
The Property is in Bouthillier township in Saint-Aimé-du-Lac-des-Îles area adjacent to the western limit of the LDI
Graphite Mine approximately 17 kilom eters southwest of the town of Mont- Laurier on NTS map sheet 31J05.
The Property is locally accessible through a series of forestry service roads and the main Village Road 0 (Chemin
du Village 0) that cuts through the Property, connecting the Property to H ighway #309 which is about two
kilometers east of the Property . Geologically, Lac -des-Îles is within a geological setting very similar to the LDI
Graphite Mine. The LDI Graphite Mine is associated with paragneisses, biotite gneisses and marbles. The area is
mainly underlain by Precambrian metasedimentary rocks of the Grenville Series comprised of
quartzofeldspathic, garnetiferous paragneiss, and marble beds.
About Cullinan Metals Corp.
Cullinan Metals Corp. is focused on the exploration of clean energy metals. As the clean energy transition rages
on, the demand for commodities such as copper, graphite and lithium are critical for the future of civilization.
Cullinan Metals currently has major lithium and graphite projects in Canada.
On Behalf of the Board of Directors,
MARC ENRIGHT-MORIN
Chief Executive Officer and Director
Phone 604-669-9788
Email: [email protected]
Cautionary Statement on Forward Looking Information
Certain statements made, and information contained herein may constitute “forward looking information” and
“forward looking statements” within the meaning of applicable Canadian securities legislation. These statements
and information are based on facts currently available to the Company and there is no assurance that actual
results will meet management’s expectations. Forward-looking statements and information may be identified by
such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “speculates”,
“could” or “would”.
All of the forward -looking statements made in this document are qualified by these cautionary statements.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward -looking information, there may be other factors that cause results
not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not
exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially
from those described in forward -looking information. Accordingly, there can be no assurance that forward -
looking information will prove to be accurate and forward -looking information is not a guarantee of future
performance. Readers are advised not to place undue reliance on forward -looking information. The forward -
looking information contained herein speaks only as of the date of this document. The Company disclaims any
intention or obligation to update or revise forward –looking information or to explain any material difference
between such and subsequent actual events, except as required by applicable law.