Borealis Mining Commences Mobilization of Mining Equipment at Borealis GOLD MINE
Borealis Mining Company Limited.
410 West Georgia Street, 5th Floor
Vancouver, BC V6B 1Z3
TSXV: BOGO
____________________________________________________________________________________
BOREALIS MINING COMMENCES MOBILIZATION OF MINING EQUIPMENT AT BOREALIS GOLD MINE
Vancouver, British Columbia – January 21, 202 6 – Borealis Mining Company Limited (TSXV: BOGO)
(OTCpink: BORMF) (FSE: L4B0) (the " Company" or "Borealis") is pleased to announce that mobilization
of mining equipment has commenced at the Borealis Gold Mine in Nevada, marking a key milestone
toward the restart of gold mining operations. Heavy mining equipment, production drill rigs and support
equipment are now arriving on site as the Company prepares for initial mining activities.
Borealis has engaged Ledcor CMI Inc. (“Ledcor”) as its mining contractor. Ledcor is a well -established
North American mining and construction contractor with extensive experience in open -pit mining
operations, including multiple projects in Nevada. Under the current scope of work, Ledcor will be
responsible for mine development, production drilling and blasting, material movement, crushing,
stacking on the leach pad, and ongoing operational support as the project progresses toward production.
Safety remains a core operational priority for Borealis, and in 2025 Borealis personnel and contractors
collectively worked a total of 37,461 hours without a lost -time injury (LTI), reflecting the Company’s
commitment to disciplined site execution and a strong safety culture.
In parallel with site mobilization, Borealis commenced confirmatory drilling at the Borealis Mine in early
January. This drilling program is designed to validate historical data, refine grade control, and support
short-term mine planning ahead of initial m ining activities. Site activities over the coming weeks will
focus on equipment commissioning, final site preparations, and the commencement of production
drilling, with the first production blast anticipated to occur in the coming weeks, subject to final
scheduling and operational readiness.
Kelly Malcolm, President and CEO of Borealis, commented: “Mobilizing equipment to site is a significant
operational milestone and a clear indication that Borealis is moving into execution. Safety is foundational
to how we operate, and completing over 37,000 work hours in 2025 without a lost-time injury reflects the
discipline of our team and our approach to site readiness. With confirmatory drilling underway and
production drilling preparations advancing, we are focused on safely and efficiently progressing toward
our first blast in the coming weeks.”
The Borealis Mine is a fully permitted, past-producing open-pit gold mine located in Nevada. The restart
plan is designed to leverage existing infrastructure, permitted facilities, and a staged approach to
production ramp-up.
Qualified Person
Technical information contained in this press release has been reviewed and approved by Kelly Malcolm,
P.Geo., a non-independent Qualified Person as defined under National Instrument 43-101.
Borealis Mine
The Borealis mine property, located close to the town of Hawthorne, NV, is fully equipped for present
mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure,
and a functional ADR facility which produces doré b ars. The project has historically produced over
600,0001 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 robust 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.
Borealis Mining Company Limited.
410 West Georgia Street, 5th Floor
Vancouver, BC V6B 1Z3
TSXV: BOGO
____________________________________________________________________________________
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
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.
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.