Churchill Discovers 20 Gold-Silver-Molybdenum-Lead-Zinc Veins Within a 150m Wide Swarm at Pomley Cove Pond, Black Raven Property
Churchill Discovers 20 Gold-Silver-Molybdenum-Lead-Zinc Veins Within a 150m Wide Swarm
at Pomley Cove Pond, Black Raven Property
TORONTO, Feb 25, 2026 (GLOBE NEWSWIRE) – Churchill Resources Inc. (“Churchill” or the
“Company”) (TSXV: CRI.V) is pleased to report drilling intercepts revealing an extensive, polymetallic
vein swarm hosting gold, silver, lead, zinc and molybdenum at Pomley Cove Pond, a gold -silver
system that the Company discovered at its Black Raven Project in Central Newfoundland. Drill holes
PC25-01 and PC25 -02, the initial “wildcat” holes drilled in closing days of Churchill’s 2025 winter
exploration program, both intersected portions of the swarm and together at least 20 different veins,
within a broader 150m wide zone. Individual intercepts include:
• PC25-01 (vein 3): 2.93 gpt Au Eq* / 1.37m, including 4.77 g/t Au, 118.4 g/t Ag, 4.05% Pb,
9.6% Zn over 0.31m (from 65.74m), and molybdenum values above detection limit of
1000ppm.
• PC25-02 (vein 10): 9.17 gpt Au Eq / 0.20m, with 7.34 g/t Au, 87.2 g/t Ag, 2.35% Pb and
2.14% Zn (from 41.98m).
• PC25-02 (vein 4): 2.34 gpt Au Eq / 0.43m including 2.82 g/t Au and 21.7 g/t Ag over 0.23m
(from 92.44m).
*Au Eq values were calculated using long-term metal price forecasts of $3000 opt Au, $45 opt Ag, $4.10/lb Cu, $0.85/lb
Pb, $1.30/lb Zn and $20/lb Mo and recovery factors of 95% for all metals as not metallurgical studies have been
commissioned as yet on PC Pond material.
Churchill President Paul Sobie stated: “Pomley Cove Pond is a significant emerging focus for Churchill
at Black Raven, and these results further underpin our i nterpretation that the Black Raven Property
may be a central locus to a large-scale polymetallic system with multiple mineralized fluid pulses.
Pomley Cove exhibits strong silicification associated with disseminated and vein mineralization within
an area characterized by a historic IP survey chargeability high . This historic chargeability high
represents one small portion of a larger 800m x1200m area with multiple similar IP features.
Additionally, our soil sampling in 2025 returned strongly anomalous results for gold, silver ,
molybdenum, and arsenic in the Pomley Cove Pond area, particularly to the north of the pond, where
we plan to commence drilling and trenching in late March (Figures 2 and 3). Initially we will lengthen
both holes PC25-01 and 02 as they did not completely test their targeted IP chargeability anomalies
due to the Christmas temporary halt to operations , then move on to digging trenches and the drilling
of other compelling IP/soil targets, upon receiving permit approvals for the applications submitted for
that work.
The consistency in grade and polymetallic character of these drill results at Pomley Cove Pond align
with previously reported surface trench results (see News Release dated Jan 05, 2026, and Figure 2)
and suggests continuity from surface to subsurface , and, most importantly, increasing molybdenum
grades with depth within the central part of the peninsula (Veins 3 and 4 plus others). Additionally, the
polymetallic signature (Au -Ag-Mo-Pb-Zn-Arsenopyrite) of this veining is typical of orogenic gold
systems and intrusion related polymetallic veins in highly prospective geologic terrains like Central
Newfoundland.”
Pomley Cove Pond, is one of at least five prospective exploration areas within Churchill’s Black Raven
Project (Figure 1), including the historic Frost Cove Antimony Mine , the historic adits of which are
located approximately 1km to the southeast . Churchill has systematically advanced Pomley Cove
Pond from soil sampling defining a highly anomalous gold area at the pond, including grab samples
with peak values of 922ppb Au on the western shore; due diligence sampling that confirmed silver
assays reaching 395 g/t alongside significant gold, lead and zin c values ; and surface trenching
intercepts including (weighted averages): 4.35 g/t gold and 132 g/t silver over 1.59m. Churchill’s
2
exploration efforts made use of a historical (2012) Induced Polarization (IP) survey of the peninsula
that identified multiple chargeability features. These features were the targets of the first two drill holes
(PC25-01 and PC25-02) drilled beneath the discovery trenches.
Based on the maiden drill success, the Company is executing an immediate winter program consisting
of 10 trenches and 15 -20 drill holes to test additional IP targets and lengthen the original discovery
holes to reach deeper targets, along with further drilling at Frost Cove and possibly Taylor’s Room.
Additional Drilling and Trenching Results Pending
The discoveries reported here are from Churchill’s Fall 2025 exploration program at its Black Raven
Project which was designed to evaluate the historic Frost Cove Mine structure for antimony , and
explore the potential for broader polymetallic mineralization, including gold, silver, lead, zinc and
molybendum through the Property. The program consisted of 50 diamond drillholes, with a cumulative
depth of 5,176m, along with extensive channel and soil sampling. This news release provides results
for the two Pomley Cove Pond drillholes, with 32 drill holes to be reported, including 12 holes at
Taylor’s Room and 14 at Frost Cove. Remaining samples are all at the laboratories and are expected
imminently for Frost Cove, then Taylor’s Room , and finally, results from the six holes at the Stewart
Mine.
Figure 1 – Black Raven Property Geology and Main Prospects
3
Figure 2 – Pomley Cove Pond Area Soil and IP Chargeability Results with 2026 Plans
Figure 3 – Pomley Cove Pond Detailed Drillhole Results
Figure 3 – Pomley Cove Pond Detailed Drillhole Results
Table 1 – Pomley Cove Pond Drill Results to 02-22-26
Individual Sampled Intervals Weighted Averages
HoleID SampleID PC Vein # From To Interval (m) Au gpt Ag gpt Cu ppm Cu % Mo_ppm Pb_ppm Pb % Zn_ppm Zn_% PC Vein # Au gpt Ag gpt Mo_ppm Pb % Zn_% Cum Au Eq Gpt Interval (m)
PC25-01 362090 New vn #1 5.30 5.65 0.35 0.56 17.5 372 0.04 4 >2200 0.30 >2200 1.61 New vn #1 0.56 17.50 4 0.3 1.61 1.25 0.35
PC25-01 362107 46.85 47.85 1.00 0.23 1.2 137 0.01 5 131 0.01 200 0.02 New vn #2 0.24 2.68 - - - 0.27 1.3
PC25-01 362108 New vn #2 47.85 48.15 0.30 0.27 7.6 242 0.02 17 >2200 0.31 >2200 0.35
PC25-01 362117 Vein 2 53.68 54.00 0.32 1.63 30.9 2928 0.29 2 719 0.07 >2200 0.95
PC25-01 362118 54.00 54.47 0.47 1.38 10.2 679 0.07 5 841 0.08 >2200 1.9 Vein 2 1.04 15.36 - - 1.23 1.52 1.46
PC25-01 362119 54.47 54.69 0.22 0.05 0.2 49 0.00 <1 87 0.01 518 0.05
PC25-01 362120 54.69 55.14 0.45 0.75 17.1 476 0.05 1 2138 0.21 >2200 1.32
PC25-01 362137 64.68 64.98 0.30 0.69 58.5 436 0.04 160 >2200 1.32 >2200 1.69
PC25-01 362138 64.98 65.50 0.52 0.02 0.7 60 0.01 76 156 0.02 478 0.05 Vein 3 1.36 40.97 465 1.24 2.57 2.93 1.37
PC25-01 362139 65.50 65.74 0.24 0.71 6.3 235 0.02 1000 1502 0.15 790 0.08
PC25-01 362140 Vein 3 65.74 66.05 0.31 4.77 118.4 2838 0.28 1000 >2200 4.05 >2200 9.6
PC25-01 362146 76.26 77.26 1.00 0.10 2.2 400 0.04 59 245 0.02 358 0.04 New vn #3 0.24 2.98 51 - - 0.29 1.3
PC25-01 362147 New vn #3 77.26 77.56 0.30 0.69 5.6 229 0.02 23 1026 0.10 >2200 0.35
PC25-01 362149 91.44 92.44 1.00 0.15 4.3 12 0.00 1 208 0.02 >2200 0.41 New vn #4 0.80 8.52 - - 0.34 0.97 1.32
PC25-01 362150 New vn #4 92.44 92.76 0.32 2.82 21.7 930 0.09 <1 432 0.04 1391 0.14
PC25-01 362155 New vn #5 105.00 105.20 0.20 1.58 2.9 51 0.01 1 162 0.02 1702 0.17 New vn #5 1.58 2.90 - - - 1.55 0.2
PC25-01 362161 New vn #6 109.96 110.20 0.24 0.78 4.8 322 0.03 <1 114 0.01 >2200 2.50 New vn #6 0.78 4.80 - - 2.50 1.45 0.24
PC25-02 362207 Vein 4 10.15 10.38 0.23 2.07 69.1 244 0.02 284 >2200 1.39 1687 0.17 inc. 1.36 47.61 155 1.01 0.55 2.34 0.43
PC25-02 362209 10.38 10.58 0.20 0.55 22.9 190 0.02 7 >2200 0.58 >2200 0.99
PC25-02 362211 10.58 11.43 0.85 0.12 1.8 71 0.01 1 315 0.03 676 0.07 Vein 4 0.63 15.92 56 0.06 0.04 0.87 3.26
PC25-02 362212 11.43 12.21 0.78 0.12 18.3 2059 0.21 55 312 0.03 357 0.04
PC25-02 362213 12.21 12.41 0.20 1.26 28.1 1895 0.19 13 >2200 0.39 1508 0.15 inc. 1.07 13.02 39 0.08 0.04 1.22 1.2
PC25-02 362214 12.41 13.41 1.00 1.03 10.0 1412 0.14 44 214 0.02 204 0.02
PC25-02 362217 New vn #7 18.20 18.32 0.12 0.89 1.8 35 0.00 <1 293 0.03 1443 0.14 New vn #7 0.89 1.80 - - - 0.12
PC25-02 362223 New vn #8 23.59 23.72 0.13 2.66 17.7 105 0.01 <1 >2200 0.27 >2200 0.68 New vn #8 2.66 17.70 - 0.27 0.68 3.00 0.13
PC25-02 362500 Moly vn #1 31.90 32.90 1.00 0.04 1.6 585 0.06 221 21 0.00 338 0.03 Moly vn #1 - - 185 - - 0.07 1.2
PC25-02 362501 32.90 33.10 0.20 0.23 1.2 46 0.00 7 119 0.01 1073 0.11
PC25-02 362509 New vn #9 38.35 38.55 0.20 0.80 8.4 247 0.02 1 516 0.05 >2200 1.77 New vn #9 0.80 8.40 - 1.77 1.33 0.2
PC25-02 362516 New vn #10 41.98 42.18 0.20 7.34 87.2 600 0.06 <1 >2200 2.35 >2200 2.14 New vn #10 7.34 87.20 - 2.35 2.14 9.17 0.2
PC25-02 362534 New vn #11 53.00 53.25 0.25 0.33 7.0 26 0.00 <1 319 0.03 >2200 0.49 New vn #11 0.33 7.00 - - 0.49 0.54 0.25
PC25-02 362546 76.25 77.25 1.00 0.06 5.0 997 0.10 5 21 0.00 189 0.02 New vn # 12 0.18 10.27 - - - 1.75
PC25-02 362547 New vn #12 77.25 78.00 0.75 0.35 17.3 738 0.07 1 >2200 0.26 2090 0.21
PC25-02 362553 Moly vn #12 81.78 82.00 0.22 0.02 1.0 418 0.04 60 10 0.00 157 0.02 Moly vn #2 - - 57 - - 0.02 0.49
PC25-02 362554 82.00 82.27 0.27 0.10 4.0 1152 0.12 55 11 0.00 326 0.03
PC25-02 362568 New vn #13 101.40 101.70 0.30 1.69 0.8 190 0.02 <1 21 0.00 155 0.02 New vn #13 1.69 - - - - 1.60 0.3
PC25-02 362581 137.20 137.95 0.75 0.02 0.5 26 0.00 130 85 0.01 196 0.02 Moly vn #3 - - 206 - - 0.08 1
PC25-02 362582 Moly vn #3 137.95 138.20 0.25 0.01 <0.2 20 0.00 433 11 0.00 114 0.01
PC25-02 362584 New vn #14 146.35 146.65 0.30 0.59 2.0 322 0.03 <1 69 0.01 737 0.07 New vn #14 0.59 - - - - 0.56 0.3
PC25-02 362621 New vn #15 252.15 253.00 0.85 0.64 0.2 7 0.00 2 21 0.00 39 0.00 New vn #15 0.64 - - - - 0.61 0.85
PC25-02 362648 New vn #16 272.80 273.10 0.30 1.19 11.4 120 0.01 3 705 0.07 2150 0.22 New vn #16 1.19 11.40 - - 0.22 1.35 0.3
PC25-02 362727 New vn #17 348.00 348.35 0.35 0.23 15.4 1552 0.16 3 55 0.01 >2200 0.73 New vn #17 0.23 15.40 - - 0.73 0.63 0.35
PC25-02 362241 New vn #18 374.58 375.08 0.50 0.27 8.6 1083 0.11 1 52 0.01 >2200 0.63 New vn #18 0.28 6.85 - - 0.49 0.49 0.65
PC25-02 362242 375.08 375.23 0.15 0.34 1.0 11 0.00 60 15 0.00 185 0.02
PC25-02 247115 New vn #19 383.95 384.12 0.17 0.34 >6.0 1005 0.10 <1 17 0.00 >2200 0.61 New vn #19 0.34 >6.0 - - 0.61 0.56 0.17
About the Black Raven Gold-Silver-Antimony Project
The Black Raven Project is a polymetallic exploration asset in Central Newfoundland characterized by
high-tenor antimony mineralization and a perceived property -wide gold -silver-antimony system.
Churchill's primary objective is to evaluate the project’s potential as a small -footprint, high -grade
underground mine, intending first to gather sufficient data to support the preparation of initial resource
estimates and advance towards the formulization of a National Instrument 43-101 compliant maiden
resource, thus positioning the property as a potential primary supply source for North American and
European markets. Currently, North America lacks sources of high -grade, primary antimony supply,
making a potential domestic source at Frost Cove critically important.
The project encompasses the past -producing Frost Cove Antimony Mine and Stewart Gold Mine.
While these sites operated intermittently at the turn of the last century, Churchill is the first to apply
modern systematic exploration techniques to resource definition for the trend. Black Raven is located
approximately 60km northwest of Gander, Newfoundland, and approximately 100km north of the
dormant Beaver Brook Antimony Mine. The project benefits from excellent infrastructure, including
roads, power, proximity to tidewater and ports, and locally integrated operational and technical teams.
Antimony is recognized as a vital critical mineral, essential for Canada’s national and economic
security. It is a key component in military applications, flame retardants, alloy strengthening in
batteries, and emerging energy storage technologies. Securing a reliable domestic supply chain for
antimony is paramount for critical mineral supply chains, bolstering both economic resilience and
strategic independence.
About Churchill Resources
Churchill Resources Inc. is a Canadian exploration company focused on exploration and evaluation
of strategic and critical metals in Canada, principally at its prospective Black Raven, Taylor Brook and
Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board, and
advisors have decades of combined experience in mineral exploration and in the establis hment of
successful publicly listed mining companies, both in Canada and around the world. Churchill’s
Newfoundland and Labrador projects have the potential to benefit from the province’s large and
diversified minerals industry, which includes world class mines and processing facilities, and a well -
developed mineral exploration sector with locally based drilling and geological expertise.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Dr.
Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-
101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Dr. Wilton is an honorary research
professor of Economic Geology at Memorial University in St. John’s and is independent of the
Company for the purposes of NI 43-101.
Sampling Program
Samples containing a ntimony, gold, silver, lead, zinc, copper and molybdenum were collected by
Company geologists from drill cores, channel samples, and grab samples. Core samples were halved
by saw at the Company’s core facility near Boyd’s Cove. All samples were labelled , securely bound,
and delivered to the Eastern Analytical (EA) laboratory in Springdale, NL, for crushing and pulverizing.
Splits were analysed by Au 30g fire assay and ICP 34 protocols and by EA’s ore-grade analytical
7
methods when the initial detection limits were exceeded. Qualified Person Dr. Derek Wilton has
examined all of the channel sampling sites and all drill holes reported herein.
Further Information
For further information regarding Churchill, please contact:
Churchill Resources Inc.
Conan McIntyre, Chief Executive Officer
Tel. 416.272.4738
Email: [email protected]
Paul Sobie, President
Tel. 416.365.0930 (o) 647.988.0930 (m)
Email: [email protected]
FORWARD-LOOKING STATEMENTS
This news release contains certain forward -looking statements, including, but not limited to,
statements about Churchill’s objectives, goals and exploration activities proposed to be conducted on
its properties; future growth potential of Churchill, includ ing whether any proposed exploration
programs at any of its properties will be successful; exploration results; and future exploration plans
and costs. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”,
“anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these
words, or similar words or phrases, have been used to identify these forward -looking statements. In
particular, this release contains forward -looking information relating to, among other things, the
Company’s goals and objectives, and future exploration work to be conducted on the Company’s Black
Raven Antimony Property. These statements reflect management’s current beliefs and are based on
information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors
could cause actual results, performance or achievements to differ materially from the results discussed
or implied in the forward-looking statements. These factors should be considered carefully and readers
should not place undue reliance on the forward-looking statements. Such factors, among other things,
include: exploration results on the Black Raven Antimony Property; the expected benefits to Churchill
relating to the exploration proposed to be conducted on its properties; receipt of all regulatory
approvals in connection with the transaction contemplated herein ; failure to identify any additional
mineral resources or significant mineralization; the preliminary nature of metallurgical test results;
uncertainties relating to the availability and costs of financing needed in the future, including to fund
any exploration programs on the Churchill’s properties, if required; fluctuations in general
macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices
of gold, silver, base metals or certain other commodities; change in national and local government,
legislation, taxation, controls, regulations and political or economic developments; risks and hazards
associated with the business of mineral exploration, development and mining (including environmental
8
hazards, industrial accidents, unusual or unexpected formations pressures, cave -ins and flooding);
inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations
that may impose restrictions on mining and mineral exploration; employee relations; relationships with
and claims by local communities and indigenous populations; availability of increasing costs
associated with mining inputs and labour; the speculative nature of mineral exploration and
development (includin g the risks of obtaining necessary licenses, permits and approvals from
government authorities); the unlikelihood that properties that are explored are ultimately developed
into producing mines; geological factors; actual results of current and future expl oration; changes in
project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature
and are not conclusive evidence of the likelihood of a mineral deposit; and title to properties. Although
the forward-looking statements contained in this news release are based upon what management
believes to be reasonable assumptions, the Churchill cannot assure readers that actual results will be
consistent with these forward-looking statements. These forward-looking statements are made as of
the date of this news release, and the Churchill assumes no obligation to update or revise them to
reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.