Churchill Intersects 7.25% Antimony over 1.98m Near Southern Shaft along 800m Strike at Frost Cove; Second New Polymetallic System Discovered
Churchill Intersects 7.25% Antimony over 1.98m Near Southern Shaft along 800m Strike at
Frost Cove; Second New Polymetallic System Discovered
TORONTO, March18, 2026 (GLOBE NEWSWIRE ) – Churchill Resources Inc. (“Churchill” or the
“Company”) (TSXV: CRI.V) is pleased to report exceptional final results from its 2025 maiden drilling
and trenching program at the Black Raven Project in Central Newfoundland , as highlighted in the
following points:
Frost Cove Antimony Mine Prospect (Figs. 1 and 2, Table 1)
• Final 2025 holes FC25-16 to 30 returned standout results including 6.44%Sb / 2.06m, 7.25%
Sb / 1.98m, 4.84% Sb / 1.00m, and 3.94% / 1.60m.
• A locally a djacent parallel polymetallic (gold-silver) vein intersected a best result of 5.89gpt
Aueq* / 1.00m.
• Demonstrates potential high-grade antimony mineralization over 800m strike length with
vertical depth of 100m; remaining open in all directions.
New Polymetallic System Discovered at Taylor’s Room Prospect (Fig. 3 and Tables 2-4)
• A new polymetallic system has been identified at Taylors Room, with trenching and channel
sampling over 150m of strike yielding a best result s of 10.59gpt Aueq / 1.05m and 4.12gpt
Aueq / 1.80m.
• Twelve hole drill program intersected shear-vein zone at shallow depths, but returned lower
gold tenors than at surface (best assay 3.15gpt Aueq / 0.44m).
• Drill core fire assay samples to be optimized by retesting with much larger pulp and metallic
aliquots to confirm gold content.
2026 Exploration Underway; Drill Program Commencing
• A two-rig drill program is scheduled to begin with first rig on March 23 rd, with a second rig
arriving mid-April.
• Trail and drill pad construction has commenced at site, as well as drill contractor pre -
mobilization of equipment to Churchill’s project facility near Boyd’s Cove, approximately 30km
from site
• Frost Cove extension drilling and Pomley Cove Pond targets will be the initial prioritie s, with
details on planned drilling and trenching to be articulated in a forthcoming news release.
Commented Paul Sobie, President of Churchill Resources : “Today we are confirming elevated
antimony assays at Frost Cove along the entire known structure comprising an 800m length with a
vertical depth to 100m. P otentially commercial grades and thicknesses of stibnite reported from
numerous locales at surface, and to shallow depths. The parallel, high-grade gold-silver shear at Frost
Cove has now been traced for 500m along the same quartz-feldspar porphyry dyke. Further drilling
to explore the strike length of the Frost Cove mineralization both to the north and south can commence
shortly, along with infill drilling of gaps. With Taylor’s Room and Pomley Cove Pond suggesting
polymetallic potential, and Frost Cove also looking very positive, we’re excited to get the drills turning
again at the end of the month. Drill holes at Pomley Cove Pond will be targeted on newly generated,
coincident IP chargeability, and gold-silver-arsenic soil anomalies.”
Churchill CEO Conan McIntyre said: “ Our 2025 exploration at Black Raven has been a resounding
success. From intersecting over 7% antimony over 2 meters within 800m of strike at Frost Cove, to a
new polymetallic gold -silver discovery at Taylors Room and our previously reported discovery of a
2
high-grade gold-silver-lead-zinc system at Pomley Cove Pond, we are proving the exceptional quality
and scale of this asset. These results also reinforce that, together with our recent transaction
announcement for Golden Baie, Churchill is seeking to control the two premier high-grade antimony-
gold projects in the province, both within 100km on either side of the Beaver Brook Mine, which
accounted for virtually all of North America’s primary antimony production in the 21st Century when it
was in operation.”
Figure 1 – Frost Cove 2025 South Sheet Sampling Results
3
Figure 2 – Frost Cove 2025 North Sheet Sampling Results
4
Figure 3 – Taylor’s Room 2025 Sampling Results
5
Figure 4 – Black Raven Property Geology and Main Prospects
These results are the last , save for a few over -limit assays, from Churchill’s Fall 2025 exploration
program at the Black Raven Project, which was the first modern exploration of the Frost Cove Mine
structure for antimony, and high-grade polymetallic mineralization at the other known prospects
throughout the Property. This maiden program consisted of 50 diamond drillholes, with a cumulative
depth of 5,176m, along with extensive channel and 2200 soil samples. Thirty holes, totalling 2,743m
depth, were drilled at Frost Cove with the remaining holes completed on adjoining targets at Stewart,
Taylor’s Room, and the “wildcat” program at Pomley Cove Pond. This news release provides results
for 14 Frost Cove drillholes along the southern 400m of the mineralized structure, as well as six
channel samples and twelve drill holes at Taylor’s Room Prospect, and six drill holes which evaluated
the historic Stewart Gold Mine prospect; these latter six holes only encountered a single narrow
mineralized quartz vein thus no further exploration is planned at Stewart.
6
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 resources 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 establishment of
successful publicly listed mining companies, both in Canada and around the world. Churchill’s
Newfoundland and Labrado r 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
Antimony, gold, silver, lead, zinc, copper and molybdenum samples 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 and securely bound and
delivered to the laboratory of Eastern Analytical in Springdale, NL, for crushing and pulverizing. Splits
7
were analysed by Au 30g fire assay and ICP 34 protocols and by EA’s ore-grade analytical methods
when the initial detection limits were exceeded. Antimony samples from Frost Cove drill holes were
prepped by Eastern and the pulps sent to SGS Canada Inc. in Lakefield, Ontario, for their
GE_AAS33E50 assay protocols and their ore-grade analytical 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.
Table 1 – Frost Cove Drillhole Sample Summary Results to 03-12-2025
* 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 Sb and recovery factors of 95% for all metals
Hole Sample From To Interval Sb Au Ag Cu Pb Zn As Weighted Average Intersections Cum Au Eq Interval
(m) (m) (m) % gpt gpt % % % % Sb_% Au_gpt Ag_gpt Cu_% Pb_% Zn_% gpt (m)
FC25-16 C00239519 3.25 4.20 0.95 0.29 0.25 32.0 0.05 0.40 1.85 0.25
FC25-16 C00239521 4.20 4.98 0.78 0.02 0.00 0.0 0.01 0.01 0.04 0.08 0.34 0.16 20.22 0.03 0.25 1.03 2.12 1.83
FC25-16 C00239522 4.98 5.08 0.10 3.31 0.50 66.0 0.07 0.75 0.99 2.49
FC25-16 C00239533 71.35 72.35 1.00 0.02 0.60 16.0 0.02 0.09 0.81 1.62 0.02 0.60 16.00 0.02 0.09 0.81 1.12 1.00
FC25-17 C00239572 47.35 48.35 1.00 0.25 0.25 0.0 0.01 0.01 0.01 0.84 0.25 0.25 0.00 0.01 0.01 0.01 1.23 1.00
FC25-17 C00239585 66.54 67.54 1.00 2.67 0.25 5.0 0.01 0.09 0.06 2.96 2.67 0.25 5.00 0.01 0.09 0.06 10.91 1.00
FC25-17 C00239589 70.54 71.54 1.00 0.08 1.40 11.0 0.01 0.11 0.005 3.92 0.08 1.40 11.00 0.01 0.11 0.01 1.83 1.00
FC25-17 C00239599 79.54 80.54 1.00 0.01 2.00 36.0 0.02 0.08 0.08 1.09 0.01 2.00 36.00 0.02 0.08 0.08 2.48 1.00
FC25-17 C00239603 82.54 83.54 1.00 0.26 0.25 0.0 0.01 0.01 0.02 0.21
FC25-17 C00239604 83.54 84.54 1.00 0.02 0.00 0.0 0.01 0.01 0.005 0.01 0.20 0.17 0.00 0.01 0.01 0.02 0.97 3.00
FC25-17 C00239605 84.54 85.54 1.00 0.33 0.25 0.0 0.01 0.01 0.02 0.05
FC25-17 C00239606 85.54 86.54 1.00 0.10 2.90 11.0 0.01 0.18 0.15 7.43 0.10 2.90 11.00 0.01 0.18 0.15 3.38 1.00
FC25-19 361806 3.30 3.92 0.62 0.02 2.20 30.0 0.05 0.70 0.95 9.95 0.02 2.20 30.00 0.05 0.70 0.95 3.00 0.62
FC25-19 361819 10.32 11.00 0.68 0.05 0.00 0.0 0.92 0.10 0.28 0.19 0.05 0.00 0.00 0.92 0.10 0.28 1.03 0.68
FC25-19 361825 14.60 15.15 0.55 0.01 0.50 23.0 0.02 0.42 0.92 1.71 0.01 0.50 23.00 0.02 0.42 0.92 1.15 0.55
FC25-19 361833 17.10 18.10 1.00 0.09 2.70 27.0 0.01 0.47 0.64 6.07 0.09 2.70 27.00 0.01 0.47 0.64 3.56 1.00
FC25-19 361835 19.10 19.70 0.60 4.68 0.00 0.0 0.01 0.01 0.01 0.05
FC25-19 361836 19.70 20.20 0.50 0.02 0.00 0.0 0.01 0.01 0.02 0.3 3.94 0.08 1.56 0.01 0.05 0.07 15.72 1.60
FC25-19 361838 20.20 20.70 0.50 6.97 0.25 5.0 0.01 0.15 0.19 1.55
FC25-20 361918 20.00 21.00 1.00 0.09 0.25 38.0 0.02 0.41 0.58 1.7 0.09 0.25 38.00 0.02 0.41 0.58 1.37 1.00
FC25-20 361924 23.70 24.35 0.65 0.95 0.25 0.0 0.01 0.01 0.005 0.07 0.95 0.25 0.00 0.01 0.01 0.01 4.00 0.65
FC25-23 361943 32.30 33.15 0.85 0.01 1.00 16.0 0.03 0.32 0.39 1.64 0.01 1.00 16.00 0.03 0.32 0.39 1.38 0.85
FC25-24 361955 70.56 71.26 0.70 0.01 1.30 11.0 0.03 0.12 0.46 3.34 0.01 1.30 11.00 0.03 0.12 0.46 1.57 0.70
FC25-24 361963 74.36 75.36 1.00 0.02 4.40 44.0 0.14 0.70 3.01 12.25 0.02 4.40 44.00 0.14 0.70 3.01 5.89 1.00
FC25-24 361971 85.10 86.10 1.00 4.94 0.00 0.0 0.01 0.01 0.01 0.06 7.25 0.12 0.00 0.01 0.01 0.02 28.81 1.98
FC25-26 362025 40.46 41.15 0.69 0.73 1.30 14.0 0.02 0.49 0.58 2.56 0.73 1.30 14.00 0.02 0.49 0.58 4.57 0.69
FC25-27 362042 39.85 40.85 1.00 4.65 0.0 0.01 0.01 0.01 0.06 4.65 0.00 0.00 0.01 0.01 0.01 18.42 1.00
FC25-28 362031 92.15 93.15 1.00 4.84 0.00 0.0 0.01 0.01 0.01 0.06 4.84 0.00 0.00 0.10 0.10 0.10 19.16 1.00
FC25-28 362037 98.00 98.60 0.60 0.01 1.00 12.0 0.03 0.11 0.16 5.02 0.01 1.00 12.00 0.03 0.11 0.16 1.24 0.60
FC25-29 362073 41.00 41.65 0.65 4.65 0.25 0.0 0.01 0.05 0.07 0.28 6.44 0.15 0.00 0.01 0.05 0.08 25.68 2.06
8
Table 2 – Taylor’s Room Channel Sample Results to 03-12-2026
* 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 Sb and recovery factors of 95% for all metals
Table 3 – Taylor’s Room Drillhole Sample Summary Results to 03-12-2026
* 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 Sb and recovery factors of 95% for all metals
Sample # Trench # Channel # From To Length Au Ag Cu Pb Zn Weighted Averages Total Length
(m) (m) (m) gpt gpt % % % Au g/t Cu % Zn % Au eq gpt (m)
237758 TR Trench 1 Channel 1 0.00 0.44 0.44 1.25 0.2 0.03 0.01 0.10
237759 TR Trench 1 Channel 1 0.44 0.84 0.40 9.73 1.3 1.02 0.03 0.50 3.69 0.36 0.22 3.81 1.22
237760 TR Trench 1 Channel 1 0.84 1.22 0.38 0.16 0.2 0.04 0.01 0.05
237761 TR Trench 1 Channel 2 0.00 0.40 0.40 0.58 0.2 0.07 0.01 0.21
237762 TR Trench 1 Channel 2 0.40 0.80 0.40 7.28 1.0 0.66 0.02 1.79 3.19 0.30 0.84 3.51 1.00
237763 TR Trench 1 Channel 2 0.80 1.00 0.20 0.21 0.2 0.05 0.01 0.19
237764 TR Trench 1 Channel 3 0.00 0.35 0.35 0.07 0.2 0.17 0.02 1.80
237765 TR Trench 1 Channel 3 0.35 0.80 0.45 7.13 0.8 0.04 0.01 0.50
237766 TR Trench 1 Channel 3 0.80 1.20 0.40 20.00 2.5 0.33 0.01 0.17 10.89 0.16 0.41 10.59 1.05
237767 TR Trench 1 Channel 3 1.20 1.40 0.20 1.11 0.2 0.08 0.01 0.67
237768 TR Trench 1 Channel 4 0.00 0.60 0.60 0.06 0.8 0.05 0.01 1.87
237769 TR Trench 1 Channel 4 0.60 1.40 0.80 7.98 0.8 0.18 0.01 1.69 3.66 0.12 2.01 4.12 1.80
237770 TR Trench 1 Channel 4 1.40 1.80 0.40 0.41 0.2 0.11 0.03 2.88
237771 TR Trench 3 Channel 1 0.00 0.42 0.42 0.08 0.2 0.05 0.01 0.51
237772 TR Trench 3 Channel 1 0.42 0.88 0.46 4.60 0.2 0.07 0.01 0.42
237773 TR Trench 3 Channel 1 0.88 1.16 0.28 0.05 0.2 0.02 0.01 0.11 1.88 0.04 0.42 1.94 1.19
237774 TR Trench 3 Channel 1 1.16 1.61 0.45 0.25 5.0 0.03 0.16 0.60
237775 TR Trench 4 Channel 1 0.00 0.52 0.52 0.70 0.0 0.03 0.01 0.69
237776 TR Trench 4 Channel 1 0.52 1.03 1.03 0.90 5.0 0.09 0.01 0.78 0.83 0.07 0.75 1.05 1.55
237777 TR Trench 4 Channel 1 0.00 0.74 0.74 0.00 0.0 0.01 0.01 0.06
237778 TR Trench 4 Channel 1 0.00 0.43 0.43 0.00 0.0 0.01 0.02 0.14
Hole Sample From To Interval Au Ag Cu Pb Zn Weighted Averages Total Interval
(m) (m) (m) gpt gpt % % % Au_gpt Ag_gpt Cu_% Pb_% Zn_% Au eq gpt (m)
TR25-01 361846 36.45 36.80 0.35 0.399 8.0 0.01 1.21 1.27 0.40 8.0 0.01 1.21 1.27 2.12 0.35
TR25-01 361896 137.75 138.10 0.35 1.416 7.4 0.16 0.02 0.21 1.42 7.4 0.16 0.02 0.21 1.64 0.35
TR25-01 361904 141.90 142.55 0.65 1.484 10.5 0.15 0.02 0.03
TR25-01 361907 142.55 143.05 0.50 0.329 1.8 0.03 0.01 0.01 0.94 8.7 0.12 0.03 0.02 1.13 1.85
TR25-01 361908 143.05 143.75 0.70 0.872 12.0 0.16 0.06 0.03
TR25-02 362248 22.82 23.00 0.18 0.521 23.9 0.70 0.04 1.55 0.52 23.9 0.70 0.04 1.55 1.81 0.18
TR25-02 362254 25.12 25.25 0.13 1.514 5.6 0.01 0.01 0.02 1.51 5.6 0.01 0.01 0.02 1.53 0.13
TR25-02 362255 25.25 26.25 1.00 0.011 0.1 0.02 0.02 0.51 0.48 1.4 0.02 0.02 0.40 0.60 1.31
TR25-02 362258 36.27 36.45 0.18 2.345 5.8 0.02 0.01 0.08 2.35 5.8 0.02 0.01 0.08 2.35 0.18
TR25-03 362285 27.80 28.00 0.20 0.615 40.1 0.45 0.01 4.33 0.62 40.1 0.45 0.01 4.33 2.64 0.20
TR25-03 362316 58.09 58.19 0.10 0.021 62.5 0.05 2.89 2.78
TR25-03 362317 58.19 58.62 0.43 0.056 16.6 0.02 0.66 1.14 0.07 22.8 0.03 0.93 1.92 1.07 0.67
TR25-03 362318 58.62 58.76 0.14 0.155 13.6 0.05 0.34 3.71
TR25-03 362324 62.47 62.62 0.15 0.349 37.7 0.05 1.25 3.42
TR25-03 362325 62.62 62.77 0.15 0.192 11.3 0.04 0.08 3.22 0.27 24.5 0.05 0.67 3.32 1.61 0.30
TR25-04 362357 29.06 29.37 0.31 0.359 15.8 0.20 0.06 0.37
TR25-04 362361 30.77 30.94 0.17 0.905 7.5 0.05 0.01 0.57 0.47 17.7 0.11 0.27 0.82 1.04 0.74
TR25-04 362362 30.94 31.20 0.26 0.304 26.7 0.05 0.69 1.51
TR25-04 362367 42.40 42.57 0.17 0.014 0.1 0.02 0.00 1.20
TR25-04 362368 42.57 42.70 0.13 0.292 0.1 0.08 0.00 6.18 0.13 0.1 0.05 0.00 3.36 1.03 0.30
TR25-05 362456 18.65 19.11 0.46 1.052 8.1 0.09 0.01 1.03 1.05 8.1 0.09 0.01 1.03 1.46 0.46
TR25-06 362427 31.55 31.90 0.35 0.967 8.4 0.16 0.01 0.63 0.97 8.4 0.16 0.01 0.63 1.33 0.35
TR25-07 362395 19.15 19.29 0.14 0.276 17.1 0.14 0.00 6.47
TR25-07 362396 19.29 19.43 0.14 1.679 17.1 0.23 0.01 0.67 0.98 17.1 0.18 0.01 3.57 2.24 0.28
TR25-08 362440 18.53 18.65 0.12 0.774 0.1 0.02 0.00 1.03 0.77 0.1 0.02 0.00 1.03 1.02 0.12
TR25-09 362177 19.10 19.34 0.24 1.434 28.5 1.00 0.01 0.54
TR25-09 362179 19.34 19.56 0.22 0.159 3.2 0.05 0.03 0.43 0.87 11.8 0.33 0.04 0.46 1.39 0.84
TR25-09 362180 19.56 19.94 0.38 0.925 6.3 0.07 0.07 0.43
TR25-09 362191 30.50 30.64 0.14 0.468 1.9 0.07 0.00 0.67 0.47 1.9 0.07 0.00 0.67 0.70 0.14
TR25-10 362488 50.50 50.75 0.25 0.487 13.4 0.12 0.00 1.51 0.49 13.4 0.12 0.00 1.51 1.14 0.25
TR25-10 362497 62.46 62.56 0.10 0.859 0.1 0.09 0.00 6.44 0.86 0.1 0.09 0.00 6.44 2.55 0.10
TR25-10 250008 85.99 86.21 0.22 1.582 14.8 0.03 0.01 0.59 1.58 14.8 0.03 0.01 0.59 1.89 0.22
TR25-12 250023 51.29 51.73 0.44 2.256 25.7 0.46 0.04 1.02 2.26 25.7 0.46 0.04 1.02 3.15 0.44