T2 METALS REPORTS FIRST TWO OF NINE HOLES FROM SECOND DRILL PROGRAM AT THE SHERRIDON VMS PROJECT, MANITOBA Includes High Grade Polymetallic Intersection of 3.56 m grading 2.5% Cu, 5.3% Zn, 1.0 g/t Au, 21.8 g/t Ag
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T2 METALS REPORTS FIRST TWO OF NINE HOLES FROM SECOND DRILL PROGRAM
AT THE SHERRIDON VMS PROJECT, MANITOBA
Includes High Grade Polymetallic Intersection of 3.56 m grading 2.5% Cu, 5.3% Zn, 1.0 g/t Au, 21.8 g/t Ag
Vancouver, British Columbia – December 18 2024: T2 Metals Corp. (“T2” or the “Company”) (TSX -V:
TWO) (OTCQB: TWOSF) (WKN: A2DR6E) is pleased to announce the first set of assay results from the Q4
2024 drill program at the Sherridon Volcanogenic Massive Sulphide (“ VMS”) Project (the “Project”) in Manitoba.
Sherridon is a well-known VMS camp in the Flin Flon – Snow Lake Greenstone Belt, having both a significant mining
history and five near surface copper-rich historical mineral resources (see Table 3, 4 and 5 and Press Release dated
November 1 2024 ). The second hole of the 9 hole program (SHN24014) intersected high grade copper over a
significant interval to the southeast of the Lost Lake prospect.
Planning is now underway for the Q1 2025 drilling program, which shall begin when winter conditions allow, and
for which the Company is fully funded.
Drilling Highlights Include:
Lost Lake
SHN24014
6.49 m grading 1.82% Cu, 3.34% Zn, 0.74 g/t Au, 16.0 g/t Ag from 97.15 m, including
3.56 m grading 2.50% Cu, 5.31% Zn, 1.00 g/t Au, 21.8 g/t Ag from 97.15 m;
SHN24013
Hole did not intersect target horizon;
Both SHN24013 and SNH24014 were drilled south east of the Lost Lake Historical Mineral Resource where 2023
drilling encountered high grade gold and copper as reported in a Press Release dated March 1 2024). SHN24014
was drilled approximately 60m down plunge from S HN23005 while SHN24013 targeted an interpreted fold hinge
zone which was not intersected.
This 2024 drill program is the second completed by T2 Metals at Sherridon, designed to test and extend known
mineralization and/or VTEM anomalies in geologically/lithogeochemically prospective locations. Holes were targeted
to intersect mineralization along strike from the Lost Lake, Cold Lake, and Bob Historical Mineral Resources (see
Table 3, 4 and 5).
This first batch of 2024 results are from SHN24013 with a total depth of 314m; and SHN24014 with a total depth
of 266m, locations for which are provided in Table 1 and on Figure 1. The most significant sul phide-mineralized
drill intersections of copper (“Cu”), zinc (“Zn”), gold (“Au”), and silver ("Ag”) are provided in Table 2. True thickness
of the SHN24013 intersection is unknown but is interpreted to exceed 80% of drilled thickness. Cross sections and
long sections of mineralized bodies will be shared when additional drilling data is available.
Mark Saxon, CEO of T2 Metals Corp. said " First results from the 2024 Sherridon drill program are showing high
grade copper at shallow depths. In these early holes, we targeted down plunge mineralization well away from
historical mineral resources, and are now confident in a shallow plunging structural model. Historic mining at
Sherridon was known for its high copper grades, and we are excited to be testing multiple new discovery
opportunities. We will see additional 2024 results in early 2025, as we progress toward a Q1 2025 drilling program.”
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Figure 1: 2024 Drill Program Locations and Historical Mineral Resource Locations, Sherridon Project.
Six holes, plus one re -entry for a total of 1,584 m were completed at Cold Lake and Lost Lake in the Q4 2024
program, testing a total strike length exceeding 1.4km northwest and southeast of the Cold Lake and Lost Lake
prospects, respectively. These two historical mineral resources lie along a VMS horizon that is both parallel to and
typically less than 850m from the VMS horizon that hosts the historic Sherritt Gordon East and West Mines, where
7.74 million tonnes were mined at an average grade of 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t
Ag (Goetz & Froese, 1981) between 1931 and 1951.
The Lost Lake and Cold Lake zones comprise a continuously mineralized horizon over a known strike length of
approximately 1.8km. The Lost and Cold prospects were the subject of investment by HudBay Minerals Inc from
2009 – 2012 that included metallurgical drilling with a view to open pit mining and subsequent processing in Flin
Flon.
Assay results confirmed the visual identifications of semi and massive sulphide in core logging. The results delineate
shallow-dipping and plunging massive sulphide lenses and extend drilling results by the previous explorers. Added
information from this drill program, plus camp-scale compilation work further demonstrates the strong regional flat
southeasterly plunge controls and robust footwall alteration vectoring features.
An additional two holes for a total of 597m were completed at Bob Lake. Laboratory results for these, and others
from Lost and Cold Lake will be reported as data becomes available.
Numerous geophysical targets and key VMS-associated structural controls provide additional high-value targets for
planned Q1 2025 drill programs. Preparation is underway for drilling at Sherridon as soon as winter conditions
allow.
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Table 1: T2 Metals Drill Coordinates, 2024 (Coordinates given in UTM Zone 14N, NAD83).
HOLE_ID PROSPECT EAST NORTH RL DEPTH INCLINATION AZIMUTH
SHN24013 LOST LAKE 367510 6111157 320 314.0 -55 160
SHN24014 LOST LAKE 367412 6111150 327 266.0 -50 220
SHN24015 LOST LAKE 367360 6111087 327 119.0 -50 220
SHN24016 LOST LAKE 367500 6111117 327 165.0 -47 200
SHN23012DPN LOST LAKE 367317 6111224 326 167.0 -52 220
SHN24017 COLD LAKE 366383 6112361 325 254.0 -80 220
SHN24018 COLD LAKE 366310 6112500 324 299.0 -80 220
SHN24019 BOB 370850 6114130 334 261.7 -60 220
SHN24020 BOB 370836 6114764 348 335.0 -50 237
Table 2: T2 Metals Drill Assay Results, 2024.
SampleID HOLE FROM (m) TO (m) LENGTH (m) Au (ppm) Ag (ppm) Cu % Zn % Pb %
5386071 SNH24014 95.40 96.00 0.60 0.133 0.9 0.09 0.02 0.02
5386072 SNH24014 96.00 97.15 1.15 0.254 3.8 0.40 0.07 0.03
5386073 SNH24014 97.15 98.00 0.85 0.393 30.0 3.51 7.92 0.02
5386074 SNH24014 98.00 99.00 1.00 1.906 23.0 2.61 9.51 0.01
5386076 SNH24014 99.00 100.00 1.00 1.184 28.2 3.22 2.62 0.01
5386077 SNH24014 100.00 100.71 0.71 0.206 1.1 0.12 0.05 0.05
5386078 SNH24014 100.71 101.68 0.97 0.559 11.6 1.27 1.74 0.04
5386079 SNH24014 101.68 102.50 0.82 0.542 5.1 0.60 0.43 0.03
5386081 SNH24014 102.5 103 0.50 0.275 11.9 1.32 0.17 0.07
5386082 SNH24014 103 103.64 0.64 0.164 7.4 0.84 1.07 0.04
Table 3: 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.
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Table 4: 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.
Table 5: 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. Darre ll 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 consid ered 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 Historica l 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. Th e Company will need to conduct further exploration, and there is no
guarantee that the results obtained will reflect the historical estimates. In order to verify the Historical Mineral Resources
to current mineral resource estimates, among other things, th e 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 assu rance that any of the historical
mineral resources, in whole or in part, will ever become economically viable. In 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.
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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.
Sampling Procedures and Quality Assurance (QA) / Quality Control (QC)
The Company's QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum
1.5 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drillhole. The drill
core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the
remaining half se curely retained in the original core box for permanent storage. Drill core samples are shipped by transport
truck in sealed woven plastic bags to Bureau Vertias Minerals Analytical Lab preparation and analytical facility in Vancouver, BC.
Gold was determined by Bureau Veritas method FA430, a lead fire -assay fusion of a 30 g pulverized sample with a atomic
absorption spectroscopy (AAS) finish. Various metals including silver, gold, copper, lead and zinc were determined by inductively-
coupled plasma atomic emission spectroscopy (ICP-AES) or inductively-coupled plasma mass spectroscopy (ICP-MS), following
multi-acid digestion (Bureau Veritas method MA270). This method is considered an assay method with a precision of 5% for
elements including copper, lead, zinc and silver.
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: AGLAF) (WKN: A2DR6E)
T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through
exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Lida and Copper Eagle Projects
in Nevada, and the Cora Project in Arizona.
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.
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 are based upon the opinions and expectations of management of the Company as at the
effective date of such statements and, in certain cases, informati on provided or disseminated by third parties.
Although the Company believes that the expectations reflected in forward -looking statements are based upon
reasonable assumptions, and that information obtained from third party sources is reliable, they can gi ve 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. 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 uncertaint ies 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.