Churchill Provides Update to Previously Disclosed Frost Cove Results
Churchill Provides Update to Previously Disclosed Frost Cove Results
TORONTO, ON / ACCESS Newswire / May 22, 2026 / Churchill Resources Inc. ("Churchill" or the
"Company") (TSXV: CRI) reports that, as part of its routine geological model construction and
validation using Seequent Leapfrog Geo for the Frost Cove prospect, the Company identified internal
data compilation discrepancies in its March 18, 2026 news release. This news release provides the
validated and corrected analytical results for the affected drill holes.
The intersections under review were from holes FC25 -16, FC25-17, FC25-19, FC25-20, FC25-23,
FC25-24, FC25-26, FC25-27, FC25-28 and FC25-29, located in the southern portion of the Frost Cove
structure, where high -grade massive stibnite has been identified at surface and in the historical
Southern Shaft.
Table 1 presents the validated underlying assays for the same sample intervals. The verified individual
assay data indicate that the mineralized intervals do not support the broader composite intersections
previously reported, which were the result of inadvertent data compilation errors.
Table 2 presents the revised results of interest for holes FC25 -16 to FC25-30, and Table 3 provides
the corresponding drill hole collar location, azimuth, dip and hole length information for the relevant
Frost Cove drill holes. Based on the validated assay data, the principal antimony intersections are
limited to hole FC25-17, which returned 19,990 ppm antimony, or 2.00% Sb, over 0.10 m from 43.02
m, and hole FC25-27, which returned 130,011 ppm antimony, or 13.00% Sb, over 0.57 m from 50.68
m. The most notable gold and silver interval occurred in hole FC25-27, which returned 3.74 g/t Au and
24.95 g/t Ag over 0.55 m. All reported intervals are core lengths, and true widths have not yet been
determined and may be less than the reported core lengths.
Figure 1 presents a plan view of the Frost Cove 2025 final drilling results and 2026 drill hole locations,
while Figure 2 presents a perspective view of the same drilling results and 2026 drill holes. Importantly,
the structural interpretation and overall exploration strategy for the broader Forst Cove prospect [and
Black Raven Project] remain highly active. The northern strike length of Frost Cove, extending
approximately 500 m, remains a priority antimony and gold target for the Company based on
mineralization identified on surface and in prior drilling. The Company has completed nine additional
2026 drill holes intended to further evaluate this target area, with assays pending. At Frost Cove South,
additional surface stripping and trenching are required to better understand the structural complexity
of the zone and to evaluate the potential continuation of the high -grade mineralization identified at
surface and in the historical Southern Shaft.
Table 1 – Corrected Frost Cove Drillhole Results for the Intervals Reported on March 18, 2026
Hole Sample From To Interval Sb Au Ag Cu Pb Zn As Sb Au Ag Cu Pb Zn AuEq Interval
m m m ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm g/t m
Weighted Average Intersections
FC25-16 C00239519 3.25 4.20 0.95 78 0.02 0.30 16 68 101 13
FC25-16 C00239521 4.20 4.98 0.78 137 0.06 0.90 73 251 373 24 106 0.05 0.59 41 157 229 0.12 1.83
FC25-16 C00239522 4.98 5.08 0.10 137 0.32 1.00 24 269 328 78
FC25-16 C00239533 71.35 72.35 1.00 7 0.01 0.40 48 64 139 <5 7 0.01 0.40 48 64 139 0.03 1.00
FC25-17 C00239572 47.35 48.35 1.00 26 0.00 0.10 35 19 185 6 26 0.00 0.10 35 19 185 0.02 1.00
FC25-17 C00239585 66.54 67.54 1.00 22 0.10 0.70 5 37 68 88 22 0.10 0.70 5 37 68 0.12 1.00
FC25-17 C00239589 70.54 71.54 1.00 38 0.09 0.50 7 124 196 47 38 0.09 0.50 7 124 196 0.12 1.00
FC25-17 C00239599 79.54 80.54 1.00 46 0.10 17.10 51 166 160 103 46 0.10 17.10 51 166 160 0.40 1.00
FC25-17 C00239603 82.54 83.54 1.00 9 0.06 0.30 5 21 35 58
FC25-17 C00239604 83.54 84.54 1.00 12 0.00 0.30 5 24 37 56 11 0.05 0.30 4 24 38 0.06 3.00
FC25-17 C00239605 84.54 85.54 1.00 13 0.09 0.30 3 27 42 54
FC25-17 C00239606 85.54 86.54 1.00 17 0.12 0.50 3 33 49 71 17 0.12 0.50 3 33 49 0.14 1.00
FC25-19 361806 3.30 3.92 0.62 93 0.03 0.40 56 17 122 40 93 0.03 0.40 56 17 122 0.09 0.62
FC25-19 361819 10.32 11.00 0.68 20 0.02 0.10 16 9 57 6 20 0.02 0.10 16 9 57 0.03 0.68
FC25-19 361825 14.60 15.15 0.55 197 0.11 1.30 39 107 133 217 197 0.11 1.30 39 107 133 0.23 0.55
FC25-19 361833 17.10 18.10 1.00 14 0.01 0.10 24 5 106 <5 14 0.01 0.10 24 5 106 0.02 1.00
FC25-19 361835 19.10 19.70 0.60 30 0.01 0.30 36 115 104 20
FC25-19 361836 19.70 20.20 0.50 149 0.18 5.40 169 517 727 183 71 0.06 1.83 91 208 300 0.14 1.60
FC25-19 361838 20.20 20.70 0.50 42 0.00 0.10 78 10 107 <5
FC25-20 361918 20.00 21.00 1.00 29 0.00 0.10 60 10 58 5 29 0.00 0.10 60 10 58 0.02 1.00
FC25-20 361924 23.70 24.35 0.65 28 0.01 0.30 20 19 58 13 28 0.01 0.30 20 19 58 0.03 0.65
FC25-23 361943 32.30 33.15 0.85 10 0.01 0.10 72 11 95 <5 10 0.01 0.10 72 11 95 0.03 0.85
FC25-24 361955 70.56 71.26 0.70 28 0.01 0.10 19 8 60 7 28 0.01 0.10 19 8 60 0.03 0.70
FC25-24 361963 74.36 75.36 1.00 45 0.00 0.10 53 3 86 <5 45 0.00 0.10 53 3 86 0.03 1.00
FC25-24 361971 85.10 86.10 1.00 6 0.01 0.10 39 7 61 6 6 0.01 0.10 39 7 61 0.02 1.00
FC25-26 362025 40.46 41.15 0.69 11 0.01 0.10 33 7 103 6 11 0.01 0.10 33 7 103 0.02 0.69
3
FC25-27 362042 39.85 40.85 1.00 29 0.12 0.50 38 28 139 86 29 0.12 0.50 38 28 139 0.15 1.00
FC25-28 362031 92.15 93.15 1.00 102 0.01 0.10 60 5 75 6 102 0.01 0.10 60 5 75 0.07 1.00
FC25-28 362047 98.00 98.60 0.60 36 0.01 0.10 46 8 150 7 36 0.01 0.10 46 8 150 0.04 0.60
FC25-29 362073 41.00 41.65 0.65 13 0.01 0.10 20 11 72 6 13 0.01 0.10 20 11 72 0.02 0.65
* Gold equivalent values (AuEq) were calculated using long-term metal price assumptions of US$3,000/oz Au, US$45/oz Ag, US$4.10/lb
Cu, US$0.85/lb Pb, US$1.30/lb Zn and US$20/lb Sb, and assumed recoveries of 95% for all metals. The Company cautions that
metallurgical recoveries have not been established for all metals and that metal equivalent values are provided for comparative purposes
only.
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Table 2 – Revised Frost Cove Drillhole Results of Interest
Hole Sample From To Interval Sb Au Ag Cu Pb Zn Sb Au Ag Cu Pb Zn Interval
m m m ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm m
Weighted Average Intersections
FC25-16 C00239531 70.25 71.25 1.00 45 0.02 0.1 64 106 165 45 0.02 0.1 64 106 165 1.00
FC25-16 C00239532 71.25 71.35 0.10 24 0.71 60.9 1,152 6,000 52,500 24 0.71 60.9 1,152 6,000 52,500 0.10
FC25-16 C00239533 71.35 72.35 1.00 7 0.01 0.4 48 64 139 7 0.01 0.4 48 64 139 1.00
FC25-17 C00239563 42.24 43.02 0.78 77 0.01 0.1 19 18 100 77 0.01 0.1 19 18 100 0.78
FC25-17 C00239564 43.02 43.12 0.10 19,990 0.07 2.3 94 234 90 19,990 0.07 2.3 94 234 90 0.10
FC25-17 C00239567 43.12 43.42 0.30 89 0.00 0.1 18 8 50 89 0.00 0.1 18 8 50 0.30
FC25-17 C00239586 67.54 68.54 1.00 23 0.08 0.4 5 42 58 23 0.08 0.4 5 42 58 1.00
FC25-17 C00239587 68.54 69.54 1.00 157 0.19 7.6 96 1,968 1,405 157 0.19 7.6 96 1,968 1,405 1.00
FC25-17 C00239588 69.54 70.54 1.00 68 0.14 4.3 28 1,633 759 68 0.14 4.3 28 1,633 759 1.00
FC25-17 C00239598 78.54 79.54 1.00 18 0.04 0.7 21 27 63 18 0.04 0.7 21 27 63 1.00
FC25-17 C00239599 79.54 80.54 1.00 46 0.10 17.1 51 166 160 46 0.10 17.1 51 166 160 1.00
FC25-17 C00239601 80.54 81.54 1.00 13 0.04 1.7 19 23 46 13 0.04 1.7 19 23 46 1.00
FC25-19 361814 8.8 9.15 0.35 55 0.02 0.1 22 95 140 55 0.02 0.1 22 95 140 0.35
FC25-19 361818 9.82 10.32 0.50 48 0.01 0.2 21 26 57 48 0.01 0.2 21 26 57 0.50
FC25-27 362042 39.85 40.85 1.00 29 0.12 0.5 38 28 139 29 0.12 0.5 38 28 139 1.00
FC25-27 362043 40.85 41.1 0.25 167 7.14 45.3 322 7,900 8,500
98 3.74 24.95 191 4,539 4,861 0.55
FC25-27 362045 41.1 41.4 0.30 40 0.90 8.0 82 1,739 1,829
FC25-27 362046 41.4 42.4 1.00 21 0.01 0.5 21 52 79 21 0.01 0.5 21 52 79 1.00
FC25-27 362057 50 50.68 0.68 133 0.03 0.9 56 59 69 133 0.03 0.9 56 59 69 0.68
FC25-27 362058 50.68 50.95 0.27 7,800 0.44 7.6 182 1,288 1,478 130,011 0.23 5.65 135 863 1,070 0.57
FC25-27 362059 50.95 51.25 0.30 240,000 0.04 3.9 92 481 703
FC25-27 362062 51.25 52.23 0.98 135 0.00 0.1 17 17 66 135 0.00 0.1 17 17 66 0.98
FC25-27 362066 81.72 82 0.28 18 0.05 2.8 104 428 732 18 0.05 2.8 104 428 732 0.28
FC25-27 362067 82 82.3 0.30 40 1.33 12.7 246 6,700 7,700 40 1.33 12.7 246 6,700 7,700 0.30
FC25-27 362069 82.3 83.3 1.00 7 0.00 0.1 36 8 74 7 0.00 0.1 36 8 74 1.00
Table 3 – Frost Cove 2025 Drillhole Summary
Hole Target Area Easting Northing Elevation (m) Azimuth Dip Length (m)
FC25-01 Frost Cove North 654139.0 5493593.0 40.7 305 -45 119
FC25-02 Frost Cove North 654139.5 5493593.0 40.6 305 -60 163
FC25-03A Frost Cove North 654139.0 5493593.5 40.6 275 -45 91
FC25-04 Frost Cove North 654139.5 5493593.5 40.6 275 -60 139
FC25-05 Frost Cove North 654059.0 5493580.9 54.3 105 -45 91
FC25-06 Frost Cove North 654059.0 5493581.4 54.4 105 -60 79
FC25-07 Frost Cove North 654040.0 5493512.0 52.9 110 -45 46
FC25-08 Frost Cove North 654040.0 5493512.5 52.8 110 -65 76
FC25-09 Frost Cove North 654040.5 5493512.0 52.8 145 -45 70
FC25-10 Frost Cove North 654040.5 5493512.5 52.8 145 -65 85
FC25-11 Frost Cove North 654008.3 5493465.0 54.1 110 -45 79
FC25-12 Frost Cove North 654008.3 5493465.5 54.1 110 -65 130
FC25-13 Frost Cove North 653995.0 5493403.0 48.5 92 -45 70
FC25-14 Frost Cove North 653995.5 5493403.0 48.6 94 -65 82
FC25-15B Frost Cove North 653991.0 5493396.0 48.5 149 -55 154
FC25-16 Frost Cove South 653950.3 5493238.0 38.0 110 -45 97
FC25-17 Frost Cove South 653922.0 5493183.0 36.3 104 -45 104
FC25-18 Frost Cove South 653922.5 5493183.0 36.3 100 -65 89
FC25-19 Frost Cove South 653950.8 5493238.0 38.0 115 -65 56
FC25-20 Frost Cove South 653965.0 5493286.0 38.0 110 -45 59
FC25-21 Frost Cove South 653965.5 5493286.0 37.9 110 -65 68
FC25-22 Frost Cove South 653886.0 5492978.0 46.6 158 -45 109
FC25-23 Frost Cove South 653886.0 5492980.0 46.7 90 -45 64
FC25-24 Frost Cove South 653886.0 5492980.5 46.7 94 -65 97
FC25-25 Frost Cove South 653886.5 5492980.0 46.7 67 -45 70
FC25-26 Frost Cove South 653886.5 5492980.5 46.7 274 -45 61
FC25-27 Frost Cove South 653965.0 5493286.5 38.0 60 -55 101
FC25-28 Frost Cove South 653863.0 5493038.0 44.6 40 -45 142
FC25-29 Frost Cove South 653883.0 5493038.5 46.7 117 -45 88
FC25-30 Frost Cove South 653883.5 5493038.0 46.7 115 -65 63.5
* Coordinates are reported in UTM NAD83 Zone 21N.
Figure 1 – Plan of Frost Cove 2025 Final Drilling Results and 2026 Drillholes
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Figure 2 – Perspective of Frost Cove 2025 Drilling Results and 2026 Drillholes
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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 interpreted as part of a 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 . In pursuit of this objective, Churchill intends to first gather sufficient data to
undertake the preparation of initial resource estimates and then advance toward the preparation of a
maiden mineral resource estimate in accordance with National Instrument 43 -101, 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 and the potential
domestic source at Frost Cove could be of some significance.
The project encompasses the past-producing Frost Cove Antimony and Stewart Gold mines. While
these sites operated intermittently at the turn of the last century, Churchill is the first exploration group
to apply modern systematic exploration techniques to resource definition through the trend. Black
Raven is located approximately 60 km northwest of Gander, Newfoundland, and approximately 100
km north of the dormant Beaver Brook Antimony Mine. The project benefits from excellent
infrastructure, including r oads, 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, Golden Baie ,
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 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. The Qualified Person reviewed the corrected assay database,
original assay certificates, sample intervals, drill logs, QA/QC results, compositing calculations, and
updated geological model.