T2 Metals Receives Drill Permit Valid Until July 2027 FOR the Sherridon Copper -GOLD-Zinc Project, Manitoba.
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T2 METALS RECEIVES DRILL PERMIT VALID UNTIL JULY 2027 FOR THE
SHERRIDON COPPER -GOLD-ZINC PROJECT, MANITOBA.
Vancouver, British Columbia – November 13 2024: T2 Metals Corp. (“T2” or the “Company”) (TSX-V:
TWO) (OTCQB: TWOSF) (WKN: A2DR6E) is pleased to announce that the Company has received a new drill
permit for the Sherridon copper -gold-zinc project from the Manitoba Permit Office that enables drilling over a
broader area than the permit granted in 2023 . The 2024 permit allows for execution of the proposed 2025 drill
program, and future drill programs until July 2027.
Sherridon is a well-known volcanogenic massive sulphide (“VMS”) camp in the Flin Flon – Snow Lake Greenstone
Belt of central western Manitoba , with a significant mining and exploration history. The Project has year -round
road access, is 70 km from the mining centre of Flin Flon, and lies upon an operational train line.
T2 Metals’ recently completed fall 2024 drilling program ( see press release dated October 3rd 2024 ) tested the
Cold and Lost prospects where high grade copper and gold mineralization was intersected in 2023; and geophysical
targets near the Bob prospect. The drilling program permitted for 2025 and onwards will include the Bob prospect,
the Park prospect, and other geophysical and geochemical targets that have not been drill tested.
Mark Saxon, CEO of T2 Metals Corp. said “ this new drilling permit through until July 2027 provides the Company
with a long runway with which to test many targets at Sherridon. The permit allows us to both follow up on Historic
Mineral Resources and test regional targets away from areas of past drilling. We look forward to sharing results
from the fall drill program soon and initiating our winter program in the new year . The Sherridon project fits
extremely well with Manitoba’s Critical Minerals Strategy, presenting one of many opportunities for the province to
provide secure, low carbon emission supply of copper. We thank the Kiciwapa Cree and Mathias Colomb Cree
Nations for their support in gaining permits at Sherridon and sharing in this new phase of discovery.”
T2 Metals attended the recent Central Canada Mineral Exploration Convention (CCMEC) in Winnipeg where Dr Jamil
Sader’s and Mr. Floyd North’s presentation “Finding The Balance - New Investment In A Mature Region ” was well
received, describing the progress made towards a mutually supportive relationship between T2 Metals and the
Kiciwapa Cree Nation.
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Manitoba’s Minister of Economic Development, Investment, Trade and Natural Resources , Mr Jamie Moses , also
attended the CCMEC and released “Securing Our Critical Mineral Future : Responsible Mining, Opportunity Ready ”
which highlights Manitoba’s commitment to sustainable mining with a focus on critical raw materials including
copper, zinc and nickel for which the province is highly regarded.
On November 1st 2024 T2 Metals released an NI 43-101 Technical Report for the Sherridon that summarizes the
project’s historical mineral resource estimates (“Historical Mineral Resources”). Historic Mineral Resources are
quoted from five unmined deposits that are less than 8km apart , being the Park, Jungle, Bob, Cold and Lost
prospects (see tables 1, 2 and 3 and figure 1). All prospects are interpreted to lie on the same mineralized horizon
as the Sherritt Gordon East and West former mines.
A copy of the Sherridon Technical Report is available under the Company's profile on SEDAR+ at www.sedarplus.ca,
and on the Company's website at www.t2metals.com.
Table 1: Aggregate Historical Mineral Resource Estimates for Jungle, Bob, Cold and Lost Prospects (Bloom et al., 2010)
INDICATED
Mining Method Tonnes Copper (%) Zinc
(%)
Gold
(g/t)
Silver
(g/t)
Copper
(M lbs)
Zinc
(M lbs)
Gold
(ozs)
Silver
(ozs)
Open Pit 5,317,000 0.80 1.23 0.34 7.2 94 144 58,800 1,233,400
Underground 1,235,800 1.04 1.18 0.48 8.2 28 32 19,200 325,300
Total Indicated 6,552,800 0.85 1.22 0.37 7.4 122 176 78,100 1,558,700
INFERRED
Open Pit 12,240,000 0.62 0.77 0.26 5.3 168 208 103,900 2,083,400
Underground 3,620,000 0.91 1.08 0.32 7.4 72 87 37,300 857,700
Total Inferred 15,860,000 0.68 0.84 0.28 5.8 240 294 141,200 2,941,100
Notes:
1. The Historical Resource Estimates are based upon Bloom, L., Healy, T., Giroux, G., Halo Resources Ltd. 2010, Sherridon VMS Property, Technical
Report NI43-101 – November 22, 2010, which is available at www.sedarplus.ca.
2. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
3. Mineral resources are estimated at a net smelter return (NSR) cut-off of US$20 per tonne and US$45 per tonne for open pit and underground
respectively.
4. Metal prices used are US$3.00/lb copper, US$1.05/lb zinc, US$1,000/oz gold and US$15.00/oz silver.
5. Metallurgical recovery factors assumed were 92% for copper, 83% for zinc, 65% for gold and 57% for silver.
6. The Mineral Resources are reported at a cut-off grade to reflect reasonable prospects for economic extraction, which were evaluated by designing
a series of conceptual pit shells using the Lerchs-Grossman optimizing algorithm.
7. Common values for operating costs and smelter terms were assumed.
Table 2: Historical Mineral Resource Estimate for Park Prospect (Ostry et al., 1998)
INFERRED
Mining Method Tonnes Copper (%) Zinc
(%)
Gold
(g/t)
Silver
(g/t)
Copper
(M lbs)
Zinc
(M lbs)
Gold
(ozs)
Silver
(ozs)
Not Recorded 6,140,000 0.42 2.16 0.14 2.4 59 292 27,600 473,800
Notes:
1. The Historical Resource Estimates are based upon Ostry, G., Athayde, P. and Trembath, G.D. (1998): Mineral deposits and occurrences in the
Sherridon area, NTS 63N/3; Manitoba Energy and Mines, Mineral Deposit Series Report No. 17, 157 pp., which is available at www.manitoba.ca/.
2. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
3. Details of the resource estimation assumptions are not provided, with Ostry et al. (1998) referencing internal documentation supplied by Hudbay
Minerals Inc. at the time of writing.
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Table 3: Historical Mineral Resource Estimate for Lost Prospect (near surface portion) reported by Hudbay Minerals in 2011 (Halo, 2011).
INDICATED
Mining Method Tonnes Copper (%) Zinc
(%)
Gold
(g/t)
Silver
(g/t)
Copper
(M lbs)
Zinc
(M lbs)
Gold
(ozs)
Silver
(ozs)
Not Recorded 410,000 1.80 6.10 1.00 20.0 16 55 13,200 263,700
INFERRED
Not Recorded 70,000 1.50 6.20 0.80 16.5 3 10 1,800 37,100
Notes:
1 CIM definitions were followed for the estimation of mineral resources. Includes drilling up to the end of 2010.
2 Mineral resources are estimated at a ZnEq cut-off of 4% (ZnEq% equals Zn% + Cu% x 2.771 + Au g/t 1.028 + Ag g/t x 0.015) and a minimum two
metre core length.
3 Long term $US metal prices of $900/oz gold, $15.00/oz silver, $2.50/lb copper and $1.00/lb zinc were used for the estimation
4 Specific gravity measurements were taken on a portion of the samples, where actual measurements were not available average SG values were
used.
The Technical Report released on November 1st 2024 was prepared in accordance with the Canadian Securities
Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). The author
and qualified person (as defined in NI 43 -101) for the Technical Report is Mr. Darrell Turcotte, who reviewed the
technical content of the news release and approved its dissemination.
The Company is not treating the historical estimates as current given that a Qualified Person has not completed
sufficient work to classify the historical estimates as current. The reader is cautioned that the Historical Mineral
Resources should not relied upon and are included for context and to demonstrate progression of the Sherridon
Project through prior discovery and resource growth. The historical estimates are not meant to be interpreted as
current mineral resource or mineral reserve estimates as described in sections 1.2 and 1.3 of NI 43-101. The author
of the Technical Report and the Company have relied on the sources cited for information on these deposits and
has been unable to verify the information independently. While this information is considered reliable, it does not
comply with the standards of NI 43-101 and should not be relied upon.
The Historical Mineral Resource provided in Table 3 for Lost (Halo, 2011) post-dates and supersedes that provided
in Table 1 from Bloom et al. (2010). The Company is not aware of any more recent resource estimates or data that
would supersede the Historical Mineral Resources, but it is recommended that the reader exercise caution and
consult the original historical reports and related technical documentation for a more complete understanding of
the prospect’s geology, sampling, and estimation procedures. The Company will need to conduct further
exploration, and there is no guarantee that the results obtained will reflect th e historical estimate s. In order to
verify the Historical Mineral Resources to current mineral resource estimate s, among other things, the Company
will need to retain a qualified person to verify historical drilling and assaying methods and validate historical results,
add any drilling and assaying or other pertinent geological information generated since the last estimation, and
complete a resource estimate and a new technical report. Significant data compilation, drilling, sampling and data
verification may be required by a qualified person before the Historical Mineral Resources can be classified as
current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will
ever become economically viable. I n addition, mineral resources are not mineral reserves and do not have
demonstrated economic viability. Even if classified as current mineral resources, there is no certainty as to whether
further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral
resource category.
Bloom, L., Healy, T., Giroux, G., (2010): Sherridon VMS Property, NI43-101 Technical Report prepared for Halo Resources Ltd., November,
2010. 182p.
Ostry, G., Athayde, P . and Trembath, G.D. (1998): Mineral deposits and occurrences in the Sherridon area, NTS 63N/3; Manitoba Energy and
Mines, Mineral Deposit Series Report No. 17, 157 pp.
Halo (2011): Halo Update For Sherridon VMS Property, Manitoba dated April 14, 2011 issued by Halo Resources Ltd, Toronto.
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Figure 1: Historical Mineral Resource Locations, Sherridon Project.
The qualified person for the Company's projects, Mr. Mark Saxon, the Company’s Chief Executive Officer, a Fellow of the
Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and
approved the contents of this release.
About T2 Metals Corp (TSX.V: TWO) (OTC: TWOSF) (WKN: A2DR6E)
T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through
exploration and discovery. The Company continues to target under -explored areas, including the Sherridon, Lida,
Cora and Copper Eagle projects where post-mineralization cover masks areas of high geological prospectivity in the
vicinity of major mines.
ON BEHALF OF THE BOARD,
“Mark Saxon”
Mark Saxon
President & CEO
For further information, please contact:
t2metals.com
1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7
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 release.
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Cautionary Note Regarding Forward -Looking Statements
Certain information set out in this news release constitutes forward -looking information. Forward looking
statements are often, but not always, identified by the use of words such as "seek", "anticipate”, "plan", "continue”,
"estimate”, "expect", "may”, "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-
looking statements in this press release include future exploration on the Company’s mineral projects and the
potential to define mineral resources. Forward-looking statements are based upon the opinions and expectations
of management of the Company as at the effective date of such statements and, in certain cases, information
provided or disseminated by third parties. Although the Company believes that the expectations r eflected in
forward-looking statements are based upon reasonable assumptions, and that information obtained from third
party sources is reliable, they can give no assurance that those expectations will prove to have been correct.
Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties, including the volatility of
metal prices and the price of the Company’s common shares; the availability of financing ; actual exploration or
development plans and costs differing materially from the Company’s estimates; the ability to obtain and maintain
any necessary permits, consents or authorizations required for mining activities; environmental regulations or
hazards and compliance with complex regulations associated wit h mining activities; climate change and climate
change regulations; and the dangers inherent in exploration, development and mining activities. Actual results may
differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may
differ materially from those projected in the forward -looking statements. Such risks include uncertainties relating
to exploration activities. When relying on forward -looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such
forward-looking statements. The Company does not undertake to update any forward -looking statements, except
as may be required by applicable securities laws.