With Step-Out Drilling Continuing, Radisson Demonstrates Meaningful Resource Growth at O'Brien with an Updated Mineral Resource Estimate
With Step-Out Drilling Continuing, Radisson
Demonstrates Meaningful Resource Growth at
O'Brien with an Updated Mineral Resource
Estimate
Rouyn-Noranda, Quebec--(Newsfile Corp. - March 2, 2026) -
Radisson Mining Resources Inc.
(TSXV: RDS) (OTCQB: RMRDF)
("
Radisson
" or the "
Company
") is pleased to report an updated
Mineral Resource Estimate ("
MRE
") at its 100%-owned O'Brien Gold Project ("
O'Brien
" or the
"
Project
") located in the Abitibi region of Québec. The Company is currently undertaking a fully-funded
140,000-metre step-out drill program at the Project with the objective of determining the scope of
mineralization to a depth of 2 kilometres. This program commenced in 2025 and is expected to continue
through the first half of 2027. Today's updated MRE is an interim report that demonstrates the impact of
recent drilling successes completed as of December 31, 2025. Highlights include:
82% increase in Inferred Mineral Resources
from step-out drilling intersecting new
mineralization, with 1.69 million ounces ("Moz") in 10.37 million tonnes ("Mt") at 5.08 grams per
tonne ("g/t") gold ("Au");
8% increase in Indicated Mineral Resources
with 0.63 Moz in 3.49 Mt at 5.59 g/t Au;
Estimated using
US$2,500/oz Au and 2.2 g/t Au cut-off
, with a refined geological model and
capping strategy, establishing the go-forward basis for future, modern mine development.
Matt Manson, President and CEO:
"Today we report the first of several planned, step-by-step
updates to the MRE at the O'Brien Gold Project, quantifying the impact of our recent drilling success
and establishing a clear foundation for future, modern mine development. With just 25% of our
140,000 metre step-out drill program completed, the new vein mineralization delineated beneath the
historic mine workings and the previous mineral resource volume (
Radisson news release dated
February 12, 2026
) has resulted in an 82% increase in the quantity of Inferred Mineral Resources,
now 1.69 Moz (10.37 Mt at 5.08 g/t Au). At the same time, we have refined the estimate of Indicated
Mineral Resources, incorporating more tonnes at a lower average grade for an 8% increase in
contained ounces, now 0.63 Moz (3.49 Mt at 5.59 g/t Au). Our estimates utilize a 2.2 g/t Au cut-off at a
reasonable gold price assumption of US$2,500/oz."
"The former O'Brien Mine was known for high-grade ore-shoots mined in small volumes. Mining
ended in 1957 with the gold price at US$35/oz. Significant volumes of mineralized vein material,
below what we believe to have been a 7 g/t to 8 g/t Au cut-off, were left untouched. Now, we are
presenting the Project as it should be viewed for future development: not as a bespoke deposit of
extreme grade and limited scale, but as an extensive Abitibi vein deposit with a substantial inventory
of mineralized material amenable to modern mechanized mining at higher throughput."
"Our step-out drill campaign at O'Brien is ongoing with up to eight rigs. We expect to complete 72,500
metres in 2026 and 32,500 metres in the first half of 2027. This is in addition to the meterage
supporting today's updated MRE. The vein mineralization system we have been intersecting is open
at depth. In fact, since our step-out drilling began in the fall of 2024, we have been seeing an
impressive 84% success rate in intercepting classic O'Brien quartz-sulphide-gold veins with grades
and thicknesses consistent with today's updated MRE. Looking to a 2-kilometre exploration floor, we
believe an appropriate Exploration Target at O'Brien is another 5 Mt to 10 Mt at grades of between 4.0
g/t and 6.0 g/t Au containing 0.6 Moz to 2.0 Moz. We expect to complete further step-by-step updates
to the MRE as our drilling progresses."
Cautionary statement
: Readers are cautioned Mineral Resources that are not Mineral Reserves do not
have demonstrated economic viability. The estimate of mineral resources may be materially affected by
environmental, permitting, legal, title, socio-political, marketing, or other relevant issues including risks
set forth in Radisson's filings made with Canadian securities regulatory authorities. The potential quantity
and grade of an Exploration Target is conceptual in nature, there has been insufficient exploration to
define a mineral resource and it is uncertain if further exploration will result in the target being delineated
as a mineral resource.
A video presentation of today's news by Matt Manson can be found at
https://www.youtube.com/watch?
v=5IZwSSYbO70
.
Mineral Resource Estimate (effective January 31, 2026)
The MRE is based on 428,440 metres of drilling completed to the end of December 31, 2025, and has
been authored by SLR Consulting (Canada) Ltd. ("
SLR
"). The estimate utilizes a 2.2 g/t Au cut-off at
US$2,500/oz and makes certain assumptions on mining and processing costs, currency exchange rate,
and metallurgical recovery (Table 1 and Figure 1). A wireframe vein model prepared by Radisson and
reviewed by SLR
constrains the estimate and applies a minimum width of 1.2 metres. Individual assays
are capped at 60 g/t Au prior to compositing to full width of the veins, and the block model utilizes 5 by 2
by 5 metre blocks consistent with recent mine design studies.
Table 1:
Mineral Resource Estimate, Effective January 31, 2026
Category
Tonnes (kt)
Grade (g/t Au)
Oz (koz Au)
Indicated
3,493
5.59
628
Inferred
10,368
5.08
1,692
Notes:
1
.
Prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards (2014) and Best Practice
Guidelines of Mineral Resources and Reserves (2019).
2
.
Mineral resources are reported above a cut-off grade of 2.2 g/t Au based on a C$215/t operating cost, a long-term gold price of US$2,500/oz Au,
a US$/C$ exchange rate of 1:1.33, and a metallurgical recovery of 90%.
3
.
Wireframes were modelled at a minimum width of 1.2 m.
4
.
Bulk density varies by deposit and lithology and ranges from 2.76 t/m³ to 2.87 t/m³.
5
.
Individual assays were capped at 60 g/t Au prior to compositing to full vein width.
6
.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
7
.
Numbers may not add due to rounding.
An MRE for the Project was previously published in March 2023 (
Radisson news release dated March 2,
2023
) based on 325,509 metres of drilling completed to the end of 2022. Indicated Mineral Resources
(effective March 2, 2023) were estimated at 0.50 Moz (1.52 Mt at 10.26 g/t Au) with additional Inferred
Mineral Resources of 0.45 Moz (1.60 Mt at 8.66 g/t Au). The 2023 study applied a 4.5 g/t Au cut-off at
US$1,600/oz Au.
In July 2025, Radisson published a Preliminary Economic Assessment ("
PEA
") for the Project that
utilized the 2023 estimate re-blocked by SLR in the Z-direction from 10 metres to 5 metres to allow for
more flexible underground mine design. A cut-off of 2.2 g/t Au at US$2,000/oz Au and an updated set of
economic criteria were applied in the re-blocking exercise consistent with the parameters used for the
optimization of the PEA's underground mine schedule. No other changes were made. Indicated Mineral
Resources (effective May 6, 2025) were estimated at 0.58 Moz (2.20 Mt at 8.22 g/t Au) with additional
Inferred Mineral Resources of 0.93 Moz (6.67 Mt at 4.35 g/t Au).
The updated MRE released today benefits from 66,387 metres of additional drilling in 122 drill holes
conducted between 2023 and 2025, which is the most significant factor in the increase of Inferred
Mineral Resources (Figure 2). Radisson has also validated an additional 36,544 meters of historic
drilling. The updated MRE utilizes similar estimation parameters to previously, but a more restrictive
approach to capping. In the March 2023 estimate, and as incorporated in the re-blocked May 2025
Figure 1:
Block Models for the Mineral Resource Estimates Effective May 6, 2025 (Top) with Recently
Published Drill Results and the Updated MRE Effective January 31, 2026 (Bottom)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10977/285831_ef6502aeb443086a_001full.jpg
estimate, capping at 40 g/t Au was applied to the full-length composites. In the updated MRE, capping
has been applied at 60 g/t Au to the underlying assays prior to compositing. This has the effect of
reducing the average grade by approximately 12%, and in the opinion of Radisson and SLR is an
appropriate approach to a narrow high-grade vein deposit such as O'Brien.
Figure 2:
3D View of Block Model by Resource Classification (Left) and Gold Grade (Right) Illustrating
Volume Utilized in the Previous May 2025 MRE
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10977/285831_ef6502aeb443086a_002full.jpg
Compared to previous estimates, the aggregate impact on the Indicated Mineral Resources of the new
drilling, the 2.2 g/t Au cut-off, and the updated capping strategy has been to add more tonnes at a lower
average grade for an overall increase in contained ounces. The aggregate impact of these three factors
on the Inferred Mineral Resources has been the addition of more tonnes at a higher average grade for
an overall increase in contained ounces. Indicated Mineral Resources have increased by 8% to 0.63
Moz, based on an increase in tonnes of 58% to 3.49 Mt and a decrease in grade of 32% to 5.59 g/t Au.
Inferred Mineral Resources have increased by 82% to 1.69 Moz, based on an increase in tonnage of
55% to 10.37 Mt and an increase in grade of 17% to 5.08 g/t Au.
O'Brien's system of Quartz-Sulphide-Gold vein mineralization remains open to depth across a broad
front beneath the historic mine workings and the updated MRE. The potential continuation of this
mineralization to a 2 kilometres depth defines an Exploration Target of an additional 5 Mt to 10 Mt at
grades of between 4.0 g/t and 6.0 g/t Au containing 0.6 Moz to 2.0 Moz. The potential quantity and grade
of an Exploration Target is conceptual in nature, there has been insufficient exploration to define a
mineral resource and it is uncertain if further exploration will result in the target being delineated as a
mineral resource.
Table 2:
Sensitivities of the Mineral Resource Estimate Based on Cut-Off
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A New Vision for the O'Brien Gold Project
The historic O'Brien mine produced over half a million ounces of gold at an average grade exceeding 15
g/t Au. It is clear that the former mine was "high-graded", with manual mining methods applied to the
highest-grade veins and ore shoots at an estimated cut-off grade of 7 g/t to 8 g/t Au. Parallel but lower-
grade mineralized zones, which would be well above an economic cut-off grade today, were left
unmined.
The updated MRE does not incorporate any mineral resources potentially remaining in the former mine.
However, in applying the lower grade cut-off of 2.2 g/t Au based on a gold-price estimate of US$2,500,
the new estimate captures the overall volume attributes of the O'Brien mineralizing system, with more
tonnes and more ounces at a lower average grade. This has the benefit of improving the continuity of
mineralization for future mine planning, with larger stopes and more development headings supporting a
higher potential mining rate. The Project has existing mining infrastructure to support such a vision, such
as a shaft in the former mine extending to a 1,000 metres depth and multiple mills in the region with
significant future capacity.
Table 2 illustrates sensitivities on Indicated and Inferred Mineral Resources and the MRE block model
based on cut-off grade. These are:
a)
8.0 g/t Au (US$700/oz) representing the former mine,
b)
4.5 g/t Au (US$1,250/oz) representing the MRE effective March 2, 2023,
c)
2.2 g/t Au (US$2,500/oz) representing the updated MRE, and
d)
1.5 g/t Au (US$3,800/oz) representing the recent long-term consensus price of gold.
The comparison clearly indicates the relationship between volume and grade based on cut-off, the
directionality of steeply-plunging grade shoots at O'Brien, and the increased continuity of mineralization
achieved at progressively lower cut-offs.
Gold Mineralization at O'Brien and Step-Out Drill Program
Gold mineralization at O'Brien occurs within quartz-sulphide veins developed primarily within the
interlayered mafic volcanic rocks, conglomerates, and porphyritic andesitic sills of the Piché Group
occurring in contact with the regionally significant Larder Lake-Cadillac Break ("LLCB"). Individual veins
are generally narrow, ranging from several centimetres up to several metres in thickness, and are
associated with mineralized alteration envelopes of up to several metres in thickness. Multiple veins
occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. As
mapped at the historic O'Brien mine, and now replicated in the modern drilling, individual veins have
well-established lateral continuity, with steeply plunging grade shoots developed over significant lengths.
Since the end of 2024, Radisson has been pursuing a program of broad step-out drilling at O'Brien with
the objective of determining the overall scope of mineralization at the Project to a depth of 2 kilometres
(Figure 1). The priority is the quantity and distribution of mineral resources with step-outs rather than in-
filling to upgrade the classification of the existing mineral resources.
This drilling is accomplished with pilot holes followed by wedges and directional drilling to maximize drill
efficiency. In October 2025, Radisson announced the expansion of the program to 140,000 metres
employing an eventual eight drill rigs (see
Radisson news release dated October 16, 2025
). An initial
35,000 metres of the program were completed in 2025, with 72,500 metres budgeted for 2026, and a
further 32,500 metres scheduled for the first half of 2027.
QP Disclosure
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of
Mr. Richard Nieminen, P.Geo., (QC), a geological consultant for Radisson and a Qualified Person for
purposes of NI 43-101. Mr. Luke Evans, M.Sc., P.Eng., ing., of SLR Consulting (Canada) Ltd., is the
Qualified Person responsible for the preparation of the MRE at O'Brien. Both Mr. Nieminen and Mr.
Evans are independent of Radisson and the O'Brien Gold Project.
About Radisson Mining
Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the
Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi,
Québec. A July 2025 PEA described a low cost and high value project with an 11-year mine life and
significant upside potential based on the use of existing regional infrastructure. Indicated Mineral
Resources are estimated at 0.63 Moz (3.49 Mt at 5.59 g/t Au), with additional Inferred Mineral
Resources estimated at 1.69 Moz (10.37 Mt at 5.08 g/t Au). Please see the NI 43-101 "O'Brien Gold
Project Technical Report and Preliminary Economic Assessment, Québec, Canada" effective June 27,
2025, and other filings made with Canadian securities regulatory authorities available at
www.sedarplus.ca
for further details and assumptions relating to the O'Brien Gold Project. For more
information on Radisson, visit our website at
www.radissonmining.com
or contact:
Matt Manson
President and CEO
416.618.5885
Kristina Pillon
Manager, Investor Relations
604.908.1695
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the applicable Canadian
securities legislation that is based on expectations, estimates, projections, and interpretations as at the
date of this news release. Forward-looking statements including, but are not limited to, statements with
respect to the ability to execute the Company's plans relating to the O'Brien Gold Project as set out in the
Preliminary Economic Assessment; the Company's ability to complete its planned exploration and
development programs; the absence of adverse conditions at the O'Brien Gold Project; the absence of
unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price
of gold remaining at levels that render the O'Brien Gold Project profitable; the Company's ability to
continue raising necessary capital to finance its operations; the ability to realize on the mineral resource
and mineral reserve estimates; assumptions regarding present and future business strategies; local and
global geopolitical and economic conditions and the environment in which the Company operates and
will operate in the future; planned and ongoing drilling; the significance of drill results; the ability to
continue drilling; the impact of drilling on the definition of any resource; and the ability to incorporate new
drilling in an updated technical report and resource modelling; the Company's ability to grow the O'Brien
Gold Project; and the ability to convert inferred mineral resources to indicated mineral resources.
Any statement that involves discussions with respect to predictions, expectations, interpretations,
beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's
view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words and phrases or stating that certain actions, events or
results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements
of historical fact and may be forward-looking information and are intended to identify forward-looking
information. Except for statements of historical fact relating to the Company, certain information
contained herein constitutes forward-looking statements Forward-looking information is based on
estimates of management of the Company, at the time it was made, involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of the
companies to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking information. Such factors include, among others; the risk that the O'Brien
Gold Project will never reach the production stage (including due to a lack of financing); the Company's
capital requirements and access to funding; changes in legislation, regulations and accounting
standards to which the Company is subject, including environmental, health and safety standards, and
the impact of such legislation, regulations and standards on the Company's activities; price volatility and
availability of commodities; instability in the global financial system; the effects of high inflation, such as
higher commodity prices; the risk of any future litigation against the Company; changes in project
parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may
exceed estimated costs; geological, mining and exploration technical problems; failure of plant,
equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing; risks relating to the drill results
at O'Brien; the significance of drill results; and the ability of drill results to accurately predict
mineralization. Although the forward-looking information contained in this news release is based upon
what management believes, or believed at the time, to be reasonable assumptions, the parties cannot
assure shareholders and prospective purchasers of securities that actual results will be consistent with
such forward-looking information, as there may be other factors that cause results not to be as
anticipated, estimated or intended, and neither the Company nor any other person assumes
responsibility for the accuracy and completeness of any such forward-looking information. The Company
believes that this forward-looking information is based on reasonable assumptions, but no assurance
can be given that these expectations will prove to be correct and such forward-looking statements
included in this press release should not be unduly relied upon. The Company does not undertake, and
assumes no obligation, to update or revise any such forward-looking statements or forward-looking
information contained herein to reflect new events or circumstances, except as may be required by law.
These statements speak only as of the date of this news release.
Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing
and Development" sections of the Company's Management's Discussion and Analysis dated April 29,
2025 for the year ended December 31, 2024, and the Company's Management's Discussion and
Analysis dated November 26, 2025 for the three month period ended September 30, 2025, all of which
are available electronically on SEDAR+ at
www.sedarplus.ca
. All forward looking statements contained
in this press release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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