Churchill Intersects High Tenor Antimony and Discovers a Significant New Gold-Silver System at Black Raven, Central Newfoundland
Churchill Intersects High Tenor Antimony and Discovers a Significant New Gold-Silver
System at Black Raven, Central Newfoundland
TORONTO, January 5, 2026 (GLOBE NEWSWIRE ) – Churchill Resources Inc. (“Churchill” or the
“Company”) (TSXV: CRI.V) is pleased to report maiden intersections of high tenor antimony along with
gold and silver over 800m of structural continuity in the environs of the historic Frost Cove Antimony
Mine. As well the Company reports the discovery of a potentially extensive polymetallic system at
Pomley Cove Pond, with interceptions of high-grade gold, silver, lead, and zinc.
These discoveries are a product of Churchill’s Fall 2025 exploration program at the Black Raven
Project, designed to rigorously evaluate the Frost Cove Mine structure for antimony, and explore the
potential for broader polymetallic mineralization through the Black Raven Property. This maiden
program consisted of 50 diamond drillholes, with a cumulative depth of 5,176m, along with extensive
channel and soil sampling. Thirty holes, totalling 2,743m depth, were dedicated to Frost Cove and the
remaining holes to adjoining targets at Stewart, Taylor’s Room, and the “wildcat” program at Pomley
Cove Pond. This news release provides results for 16 Frost Cove drillholes along the northern 400m
of the structure, as well as all channel samples acquired to date at Frost Cove and Pomley Cove Pond.
Thirty-four drillholes are still to be reported.
Churchill interprets these partial results as indicating, consistent with its preliminary exploration model,
that the Black Raven Property potentially contains a large-scale mineralized system in which strategic
and precious metals are genetically linked to felsic intrusive and extrusive rocks. True to the Greek
etymology of antimony (antimonos means “never alone”), early indications suggest that antimony at
the Frost Cove Mine appears to be the highly -visible manifestation of a large, deep -seated volcanic
heat source that may have driven multiple pulses of mineral -rich fluids containing antimony,
arsenopyrite and high-grade gold, silver along with other metals within a volcanic-plutonic structural
architecture.
Maiden Program Antimony, Gold, Silver Discovery Highlights Include:
• Exceptional, high-grade antimony assays from at Frost Cove Mine (Figs. 1& 2).
Assay results from 16 drill holes (with 14 still to report) and 18 channel samples have defined
a high -tenor shear-hosted zone with structural continuity over a strike length of 800m to
approximate depths of 100m; the zone remains open long strike and to depth:
o Surface (trenching – Table 1): Systematic saw-cut channel sampling has confirmed
consistent, high-grade antimony (Sb) widths across the shear zone, including:
▪ Trench 11: 37.3% Sb over 0.30m within17.27% antimony over 0.98 in Channel
3; and 16.81% over 0.35m within 7.86% Sb over 0.75m in Channel 4.
▪ Trench 10: 43.0% Sb over 0.15m within 6.60% Sb over 1.0m . For reference,
43% Sb represents an equivalent stibnite purity of approximately 59.97%, i.e.,
approaching the molecular maximum of Sb of 71.7% in stibnite (Sb2S3).
o Subsurface (drilling – Table 2): Intersections include:
▪ 15.85% Sb over 0.46m within a broader mineralized interval of 10.1% Sb over
0.94m in hole FC25-21.
▪ 9.6% Sb over 0.65m, within a broader interval of 6.25% Sb over 1.0m in hole
FC25-14.
▪ 6.97% Sb over 0.30m, within 2.64% Sb over 0.8m in hole FC25-11
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• Parallel gold -silver system delineated at Frost Cove Mine trend , hosted in a second
arsenopyrite-bearing shear zone 1 to 3 m from the antimony shear zone. High grade gold and
silver grab samples confirmed by drilling and trenching include:
▪ 2.0 g/t Au and 36 g/t Ag over 0.36m in hole FC25-05
▪ 2.2 g/t Au and 30 g/t Ag over 0.36m in hole FC25-10
▪ 4.4 g/t Au and 44 g/t Ag over 0.60m in hole FC25-14
.
• New gold-silver vein system at Pomley Cove Pond (Figure 3).
Nine systematic channels along separate sulphide -rich shear zones as exposed in four
trenches along with extensive soil samples have confirmed a high-grade gold-silver-lead-zinc-
arsenopyrite system approximately 1km northwest of the historical adits at Frost Cove Mine:
o Surface (trenching Table 3): Intercepts include the following (weighted averages):
▪ 4.35g/t gold and 132.03 g/t silver over 1.59m (TRPC-04)
▪ 3.41% g/t gold and 56.68 g/t silver over 0.69m (TRPC-01)
▪ 3.36 g/t gold and 17.75 g/t silver over 1.12m (TRPC-03)
o Subsurface (drilling): The 2025 program concluded December 19th with two holes
drilled beneath the discovery trenches. Hole PC25 -02 also extended out under the
pond, where silicious felsic rocks with elevated polymetallic assays had been located
along the shoreline during the summer. The surface veins were intersected at depth
along with several new veins . Hole PC25 -02 encountered approximately 150m of
brecciated and sulphide mineralized felsic volcanic rocks, the first such lithologies
discovered on the property. Early impressions suggest that Pomley Cove Pond may
be a central locus to the overall Black Raven mineralization system.
• Pending news flow.
o Laboratory assays remain pending: For 14 drill holes along the Frost Cove Mine trend,
12 drill holes and six channel samples at the Taylors Room Prospect, six drill holes at
the historic Stewart Gold Mine , as well as the Pomley Cove drilling. The Company
continues to build out a unified project model for Black Raven as complete data set s
are received.
o 2026 Exploration: Presently expected to focus on identified centres of mineralization
to expand the strategic antimony and high-grade precious metals footprint across the
Black Raven Project. Management is preparing to aggressively follow-up up on these
discoveries with the 2026 exploration season to commence in mid-February.
o Metallurgy: As previously reported by Churchill, the visual and density contrast of high-
grade stibnite compared to country rock make it and ideal candidate for sensor-based
pre-concentration that allow for rejection of a significant portion of waste rock .
Churchill’s investigations will continue through 2026 based on the high-grade tenor
reported here.
o Treasury: With a strong treasury and no immediate need for capital, the Company is
well positioned to re -activate its exploration program at Black Raven in 2026.
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Figure 1 – Frost Cove North Sheet Sampling Results to 01-02-2026
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Figure 2 – Frost Cove South Sheet Sampling Results to 01-02-2026
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Figure 3 – Pomley Cove Pond Sampling Results to 01-02-2026
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Commented Paul Sobie, President of Churchill Resources: “This maiden program is the culmination
of six months of continuous evaluation and exploration where we followed clues not only from the
Frost Cove Mine trend, but also from the entire Black Raven Project. We are reporting high antimony
grades at Frost Cove that are along a structural framework over 800m in length and to a vertical depth
of 100m (remaining open along strike and at depth), with massive stibnite seams intersected in several
locales at surface, and to shallow depths thus far . With our discovery of a parallel, high -grade gold-
silver shear at Frost Cove, and the newly discovered gold-silver system at Pomley Cove Pond , the
polymetallic scale is significantly greater than ever previously contemplated. Perhaps most exciting of
all is the potential we are looking at an integrated mineralized system that is clearly intensifying, with
potential in gold, silver, antimony and other metals.”
Conan McIntyre, CEO added: “The polymetallic discoveries we report toda y, alongside high-grade
antimony, meaningfully supports our mission of supporting strategic r esource sovereignty and a
‘Made-in-Canada’ antimony supply chain. They add resilience and robustness to that initiative from a
capital allocation and risk management perspective, while also unlocking the potential upside of a
major precious metals discovery.”
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 operate d 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
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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 SGS Canada Inc. in Lakefield, Ontario, for crushing and pulverizing.
Splits were analysed by SGS using GE_AAS33E50 assay protocols and by 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.
Churchill Engages Bunt Capital for Investor Relations Services
The Company also announces it has entered into a twelve -month agreement with Bunt Capital
Corporation ("Bunt Capital"), based in Toronto, Ontario, to provide investor relations services to the
Company. Bunt is a full-service marketing and consulting services company focused on the junior metals
and mining sector. Bunt will communicate directly with existing shareholders, analysts and prospective
investors. Under the agreement, Bunt Capital will provide investor relations and capital-markets advisory
services, including institutional and family-office outreach and coordination of non-deal roadshows.
The Company will pay Bunt Capital C$7,500 per month plus applicable taxes, invoiced monthly in arrears,
from working capital, for a total of C$90,000 plus taxes over the twelve-month term. Bunt may from time
to time acquire or dispose of securities of the Company through the market, privately or otherwise, as
circumstances or market conditions warrant. Bunt has also agreed to the Company's insider trading policy
and will observe the Company's trading blackouts. Bunt and its affiliates are at arm's length to the
Company and has no other relationship with the Company, except pursuant to the engagement
agreement. The engagement is subject to acceptance of the TSX Venture Exchange.
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Table 1 – Frost Cove Surface Sample Summary Results to 01-02-20261
1 FW = footwall; HW = hanging wall.
Sample # Prospect & Trench ChannelID Channel
From
Channel
To
Length
(m) Sb % Au gpt Ag gpt Pb % Zn % Vein
237537 Frost Cove Lower Adit SZ at Entrance 0.00 0.30 0.30 1.05 <0.5 N.R. 0.01 0.01 FW Sb
237534 Frost Cove Trench 1 Channel 1 0.00 0.50 0.50 0.01 <0.5 N.R. 0.01 0.01
237535 Frost Cove Trench 1 Channel 1 0.50 0.95 0.45 0.01 1.3 N.R. 0.06 0.02 HW Au-Ag
237536 Frost Cove Trench 1 Channel 1 0.95 1.40 0.45 0.01 <0.5 N.R. 0.01 0.01
237552 Frost Cove Trench 1 Area Grab - HW Vein na na na 0.01 2.8 11.0 0.36 0.25 HW Au-Ag
237551 Frost Cove Trench 3 Area Grab na na na 37.60 <0.5 N.R. 0.03 0.02 FW Sb
237553 Frost Cove Trench 3 Area Grab na na na 35.5 <0.5 N.R. 0.01 0.01 FW Sb Weighted average
237527 Frost Cove Trench 3 Channel 1 0.00 0.58 0.58 0.07 <0.5 N.R. 0.01 0.01 Sb% length(m)
237528 Frost Cove Trench 3 Channel 1 0.58 0.73 0.15 30.2 <0.5 N.R. 0.02 0.01 FW Sb 3.29 1.40
237529 Frost Cove Trench 3 Channel 1 0.73 1.40 0.67 0.06 <0.5 N.R. 0.01 0.03
237530 Frost Cove Trench 3 Channel 1 1.40 1.80 0.40 0.02 <0.5 N.R. 0.01 0.01
237519 Frost Cove Trench 5 Channel 1 0.00 0.57 0.57 0.01 <0.5 N.R. 0.05 0.03
237520 Frost Cove Trench 5 Channel 1 0.57 0.82 0.25 0.21 3.3 N.R. 4.49 1.51 HW Au-Ag
237521 Frost Cove Trench 5 Channel 1 0.82 1.37 0.55 0.01 <0.5 N.R. 0.03 0.09
237522 Frost Cove Trench 5 Channel 2 0.00 0.40 0.40 0.01 <0.5 N.R. 0.01 0.02
237523 Frost Cove Trench 5 Channel 2 0.40 0.70 0.30 0.03 1.5 N.R. 2.19 5.65 HW Au-Ag
237524 Frost Cove Trench 5 Channel 2 0.70 1.44 0.74 0.01 1.8 N.R. 0.02 0.05
237525 Frost Cove Trench 5 Channel 2 1.44 1.88 0.44 0.03 0.9 29 0.47 0.29
237526 Frost Cove Trench 5 Channel 2 1.88 2.50 0.62 0.02 <0.5 N.R. 0.04 0.07
238098 FC Drill Rd, Trench 6 site HW Vein grab grab grab 0.02 5.9 155 2.32 9.67 HW Au-Ag
238007 Historical Pits HW (Au)Vein grab grab grab 1.34 2.0 30 0.69 0.81 HW Au-Ag
238014 Historical Pits FW (Sb) Vein grab grab grab 11.02 <0.5 N.R. 0.10 0.04 FW Sb
238015 Historical Pits FW (Sb) Vein grab grab grab 13.66 0.7 23 0.32 0.02 FW Sb
238016 Historical Pits HW (Au) Vein grab grab grab 0.22 10.9 305 5.80 4.32 HW Au-Ag
238025 Historical Pits FW (Sb) Vein grab grab grab 2.38 <0.5 N.R. 0.13 0.09 FW Sb
238026 Historical Pits HW (Au) Vein grab grab grab 0.07 21.0 210 4.25 0.31 HW Au-Ag Sb% length(m)
237509 Frost Cove Trench 10 Channel 1 0.00 0.35 0.35 0.35 <0.5 N.R. 0.01 0.02
237510 Frost Cove Trench 10 Channel 1 0.35 0.50 0.15 43.0 <0.5 N.R. 0.03 0.02 FW Sb 6.60 1.00
237511 Frost Cove Trench 10 Channel 1 0.50 1.00 0.50 0.05 <0.5 N.R. 0.01 0.04
237512 Frost Cove Trench 10 Channel 2 0.00 0.25 0.25 0.01 <0.5 N.R. 0.01 0.04
237513 Frost Cove Trench 10 Channel 2 0.25 0.47 0.22 3.15 <0.5 N.R. 0.03 0.03 FW Sb 0.76 0.92
237514 Frost Cove Trench 10 Channel 2 0.47 0.92 0.45 0.01 <0.5 N.R. 0.01 0.04
237515 Frost Cove Trench 10 Channel 3 0.00 1.00 1.00 0.02 <0.5 N.R. 0.05 0.01
238099 Frost Cove Trench 10 Grab na na na 40.6 <0.5 N.R. 0.06 0.01 FW Sb
238100 Frost Cove Trench 10 Grab na na na 15.06 <0.5 N.R. 0.03 0.01 FW Sb Sb% length(m)
237538 Frost Cove Trench 11 Channel 1 0.00 0.65 0.65 8.58 <0.5 N.R. 0.01 0.02
237539 Frost Cove Trench 11 Channel 1 0.65 1.40 0.75 0.10 na na 0.01 0.01 FW Sb 4.04 1.40
237540 Frost Cove Trench 11 Channel 1 1.40 1.80 0.40 0.02 na na 0.01 0.01
237541 Frost Cove Trench 11 Channel 2 0.00 0.40 0.40 7.74 <0.5 N.R. 0.01 0.01
237542 Frost Cove Trench 11 Channel 2 0.40 1.07 0.67 0.04 <0.5 N.R. 0.01 0.01 FW Sb 2.92 1.07
237543 Frost Cove Trench 11 Channel 3 0.00 0.38 0.38 0.04 na na 0.01 0.01
237544 Frost Cove Trench 11 Channel 3 0.38 0.68 0.30 37.3 na na 0.02 0.01 FW Sb 17.27 0.98
237545 Frost Cove Trench 11 Channel 3 0.68 0.98 0.30 19.05 na na 0.01 0.02
237546 Frost Cove Trench 11 Channel 4 0.00 0.40 0.40 0.03 <0.5 N.R. <0.01 <0.01
237547 Frost Cove Trench 11 Channel 4 0.40 0.75 0.35 16.81 <0.5 N.R. 0.02 <0.01 FW Sb 7.86 0.75
237548 Frost Cove Trench 11 Channel 5 0.00 0.54 0.54 0.03 <0.5 N.R. <0.01 <0.01
237549 Frost Cove Trench 11 Channel 5 0.54 1.14 0.60 0.49 <0.5 N.R. <0.01 <0.01 FW Sb
237550 Frost Cove Trench 11 Channel 5 1.14 1.69 0.55 0.06 <0.5 N.R. <0.01 <0.01
237751 FC South Shaft Grab na na na 38.3 <0.5 N.R. 0.01 0.01 FW Sb