Borealis Announces GOLD Pour and Grant of Options
Borealis Mining Company Limited.
410 West Georgia Street, 5th Floor
Vancouver, BC V6B 1Z3
TSXV: BOGO
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BOREALIS ANNOUNCES GOLD POUR AND GRANT OF OPTIONS
Toronto, Ontario – November 12, 202 5 – Borealis Mining Company Limited (TSXV: BOGO) (OTCpink:
BORMF) (FSE: L4B0) (the " Company" or " Borealis") is pleased to announce that it has successfully
completed its second pour of gold and silver doré from the previously announced stockpile crushing and
heap leaching at the Borealis minesite. A total of 42.83 pounds, equivalent to 617 troy ounces of doré, was
poured as shown in Figure 1.
Borealis is awaiting assay results from the pour to determine the grade and value of the dor é but
preliminary results indicate roughly a 50 -50 gold-silver ratio, plus some additional waste metal. Heap
leaching and crushing of the stockpile of oxide material continues, with approximately 153,000 tons
crushed to date . Gold and silver are actively being collected in Borealis’ carbon columns and the
Company anticipates additional pours before year -end. In conjunction with this pour , the Company
completed its annual stack testing, a regulatory requirement that ensures the plant is operating within
environmental standards.
Figure 1: Gold and silver dor é from the second pour at the Borealis mine from production of previously
mined stockpile material.
Borealis Mining Company Limited.
410 West Georgia Street, 5th Floor
Vancouver, BC V6B 1Z3
TSXV: BOGO
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Grant of Stock Options and RSUs
In addition, the Company is pleased to announce that it has granted an aggregate of 2,300,000 stock
options to purchase common shares in the capital of the Company and an aggregate of 158,500 restricted
share units ( “RSUs”) convertible into common shares of the Company to certain officers, directors,
employees and consultants of the Company and a company performing investor relation activities to the
Company in accordance with the omnibus long term incentive plan of the Company. The stock options
are exercisable at a price of $ 1.63 per common share fo r a period of five (5) years. The RSUs vest on the
date that is one (1) year from the date of grant. The common shares issuable upon exercise of the stock
options are subject to a four month hold period from the original date of grant.
Qualified Person and QA&QC
The scientific and technical content of this news release was reviewed, verified, and approved by Kelly
Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian
Securities Administrators’ National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Borealis Mine
The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped
for present mine operations and future expansion, with existing open pits, heap leach pads, modern
infrastructure, and a functional ADR facility which p roduces doré bars. The project has historically
produced over 600,000 1 ounces of gold from an open pit heap leach operation. It is an under -explored
property and has not been drilled since 2011 , aside from Borealis’ efforts in 2024 and 2025 . The property
possesses high grade expansion potential with excellent historical drilling results, along with a number
of untested regional targets. 1Please see the Borealis Mine technical report entitled “ NI 43-101 Technical
Report, Project Status Report , Borealis Mine, Nevada, U.S.A.” authored by Douglas Reid, P.Eng. of SRK
Consulting, dated February 16, 2024. The report can be found on SEDAR+ or the Borealis website.
The Borealis Project holds existing federal and state permits for mining and processing operations.
However, certain permit modifications may be required for expanded production, and the timeline for
such approvals is subject to regulatory review. The Company cannot guarantee the timing or success of
any permit modifications that may be required for future expansions.
About Borealis
Borealis is a gold mining and exploration company focused on exploration and resumption of production
of the Borealis Mine in Nevada and the advancement of its Sandman project also in Nevada. The Borealis
Mine is a fully permitted mine site , equipped with active heap leach pads, an ADR facility, and all
necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the
property, comprised of 815 unpatented mining claims of approximately 20 acres each totaling
approximately 16,300 acres and one unpatented mill site claim of about five acres located in western
Nevada, is highly prospective for additional high -sulfidation gold mineralization. The Sandman project,
recently acquired through the acquisition of Gold Bull Resources Inc., is an advanced exploration project
with a recently completed (2021) NI 43-101 compliant resource and a recent (2023) Preliminary Economic
Assessment which indicates compelling economics, particularly in light of the increase in commodity
prices since publication of the study. Borealis is led by a strong board and management team, many of
whom have founded, managed, and sold highly successful mining and exploration companies.
For further information, please contact:
Kelly Malcolm
President and Chief Executive Officer
Office: (289) 371-3371
Borealis Mining Company Limited.
410 West Georgia Street, 5th Floor
Vancouver, BC V6B 1Z3
TSXV: BOGO
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This news release may contain certain “forward-looking information” within the meaning of applicable
securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”,
“project”, “intend”, “believe”, “anticipate”, “e stimate”, “may”, “will”, “would”, “potential”, “proposed” and
other similar words, or statements that certain events or conditions “may” or “will” occur. These
statements are only predictions. Forward -looking information is based on the opinions and estima tes
of management at the date the information is provided, and is subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to differ materially from those
projected in the forward-looking information. For a description of the risks and uncertainties facing the
Company and its business and affairs, readers should refer to the Company’s Management’s Discussion
and Analysis. The Company undertakes no obligation to update forward -looking information if
circumstances or management’s estimates or opinions should change, unless required by law. The
reader is cautioned not to place undue reliance on forward-looking information.
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