T2 METALS REPORTS HIGH GRADE COPPER IN DRILL RESULTS AT THE SHERRIDON VMS PROJECT, MANITOBA Includes High Grade Polymetallic Intersection of 6.62 m grading 2.1% Cu, 2.4% Zn, 1.0 g/t Au; 18.5 g/t Ag
1
T2 METALS REPORTS HIGH GRADE COPPER IN DRILL RESULTS AT THE
SHERRIDON VMS PROJECT, MANITOBA
Includes High Grade Polymetallic Intersection of
6.62 m grading 2.1% Cu, 2.4% Zn, 1.0 g/t Au; 18.5 g/t Ag
Vancouver, British Columbia – February 5 2025: T2 Metals Corp. (“T2” or the “Company”) (TSX -V:
TWO) (OTCQB: TWOSF) (WKN: A2DR6E) is pleased to announce assay results from the final seven holes from
the nine hole Q4 2024 drill program at the Sherridon Volcanogenic Massive Sulphide (“VMS”) Project in Manitoba.
Significant copper, zinc, gold and silver mineralization was intersected in six of the nine holes, including high copper
grades 250 m down plunge from the Lost prospect.
The 2024 drill program was the second completed by T2 Metals at Sherridon, designed to extend known
mineralization and undrilled downhole EM anomalies in geologically/lithogeochemically prospective locations. Holes
targeted mineralization along strike from the Lost Lake, Cold Lake, and Bob Historical Mineral Resources across a
trend of approximately 5 km.
Drilling Highlights Include:
Lost Lake
SHN23012DPN
1.75 m grading 0.38% Cu, 0.24% Zn, 1.1 g/t Au, 8.2 g/t Ag from 132.25 m;
SHN24015
6.62 m grading 2.09% Cu, 2.41% Zn, 1.0 g/t Au, 18.5 g/t Ag from 49.06 m,
including 4.45 m grading 2.66% Cu, 3.42% Zn, 1.4 g/t Au, 23.9 g/t Ag from 49.55 m;
SHN24016
4.69 m grading 1.61% Cu, 1.20% Zn, 0.4 g/t Au, 10.6 g/t Ag from 121.18 m,
including 3.82 m grading 1.68% Cu, 1.03% Zn, 0.4 g/t Au, 11.0 g/t Ag from 121.18 m;
Cold Lake
SHN24017
1.64 m grading 0.21% Cu, 0.22% Zn, 0.03 g/t Au, and 2.3 g/t Ag from 132.25 m.
SHN24018
9.45 m grading 0.34% Cu, 0.37% Zn, 0.2 g/t Au, and 5.6 g/t Ag from 161.92 m; and
12.97 m grading 0.21% Cu, 1.08% Zn, 0.2 g/t Au, and 7.4 g/t Ag from 178.06 m.
Sherridon is a well-known VMS camp in the Flin Flon – Snow Lake Greenstone Belt, with 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). A follow up Q1 2025 winter drilling program will begin soon, for which the Company is
fully funded.
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Mark Saxon, CEO of T2 Metals Corp. said "Our 2024 drilling at the Sherridon VMS project continues to deliver high
grade copper from multiple prospect areas. In this recent program we were very pleased to encounter significant
mineralization up to 250 m down plunge from the Lost Lake historical resource, opening the door to a large new
target area.
Sherridon is a substantial project with more than 25km of strike length of prospective target horizon, along which
lie two historical mines and five historical mineral resources. We continue to identify and prioritise new areas for
testing using combined geophysics, geochemistry and geological interpretation. We look forward to initiating our
winter 2025 drill program very soon”
Lost Lake
Holes SHN24014 (reported December 18 2024), SHN24015 and SHN24016 were drilled southeast of the Lost Lake
Historical Mineral Resource , down plunge of T2 Metals’ 2023 drill holes where high grade gold and copper was
intersected (reported March 1 2024).
SHN24014, SHN24015 and SHN24016 targeted the down-plunge southeastern expression of the Lost Lake deposit
as identified from the reinterpretation of historical downhole EM and structural geological data. Each drill hole
intersected massive sulphide mineralization with high grade copper and zinc and elevated silver and gold. Massive
sulphide thickness ranged from 6.5 m in hole SHN24014 to 4.5 m in SHN24016.
Lost Lake hole SHN23012 drilled in the 2023 program was re -entered and deepened by 51 metres as drill hole
SHN23012DPN, to intersect the Lost Lake VMS horizon. This horizon was successfully encountered, with the target
based on re-interpreted downhole EM that highlighted a deeper geophysical plate.
These multiple high-grade step out intersections at Lost Lake are highly encouraging, and suggest the continuation
of high-grade polymetallic mineralization at greater than 250 m down plunge from the Lost Lake Historical Resource.
In addition, the drill results demonstrate that the Lost Lake mineralization remains open to the southeast. T2
Metals are reviewing opportunities to test additional down-plunge extensions to the Lost Lake massive sulphides in
upcoming drilling programs.
Cold Lake
Drill holes SHN24017 and SHN2401 8 were positioned northwest from the Cold Lake Historical Mineral Resource
and designed as step-out down-plunge drilling from the historical resource area. Both drillholes tested northwest-
plunging downhole EM conductors.
The furthest down -plunge drill hole SHN24018 was notable as it intersected two intervals of semi-massive and
massive sulphide between 162 m and 206 m total ing 30 m , comprised of pyrrhotite, pyrite and minor
chalcopyrite and sphalerite. Downhole EM is currently being undertaken at these drill holes to identify additional
down-plunge mineralization.
Bob Lake
Drillholes SHN24019 and SHN24020 were the first by T2 Metals in the Bob Lake area, where a copper-rich Historical
Mineral Resource (see Table 3 ) sits close to a fold hinge. Hole SHN24019 targeted a strike extensive undrilled
portion of the strongly altered southeastern down -plunge extension of the Bob Lake massive sulphide. Drillhole
SHN24020 targeted coincident strong VTEM and Spectrem airborne EM anomalies occurring along a recently
interpreted, completely undrilled, southwest-facing fold repeat of the northeast-facing Bob Lake VMS Horizon.
Similar to Cold Lake, these Bob Lake holes were positioned to drill test reinterpreted semi-coincident VTEM and
downhole EM geophysical targets. While strong conductors were intersected in both holes, the conductors were
dominantly related to semi -massive pyrite and pyrrhotite sulphide minerals adjacent to a graphitic hanging wall
conductor. Whole-rock geochemistry indicates very strong hydrothermal alteration within drill hole SHN24019 and,
to a slightly lesser extent, in drill hole SHN24020, suggesting strong prospectivity in this area that will be targeted
by future drilling programs . In addition, downhole EM geophysical surveys are planned for the SHN24019 and
SHN24020 drill holes to locate potentially flat southeasterly-plunging, near-surface massive sulphides.
All 2024 analytical results, depths and locations are provided in Table 1 and shown on Figure 2. The most significant
sulphide-mineralized drill intersections of copper (“Cu”), zinc (“Zn”), gold (“Au”), and silver ("Ag”) are provided in
Table 2. True thickness of intersections are unknown, but is interpreted to exceed 80% of drilled thickness in all
cases.
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Figure 1. Massive mineralization textures (copper-zinc) from SHN24015, Sherridon, Manitoba.
Figure 2: 2024 Drill Program Locations and Historical Mineral Resource Locations, Sherridon Project.
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Eight holes, plus one re-entry hole, for a total of 2,064.7 m were completed at Cold, Lost, and Bob Lake deposits
in the Q4 2024 program , testing a total strike length exceeding 1.9 km from the northwest end of the Cold Lake
deposit to the southeast end of the Lost Lake deposit.
Lost and Cold Historical Mineral Resources lie along a VMS horizon that is both p arallel to and typically less than
850 m 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 1.8 km. 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 confirm ed the visual identifications of semi and massive sulph ide in core logging. The drill current
program extends drilling results by the previous explorers and defines shallow-dipping and plunging massive
sulphide lenses that remain open to the north and south and at depth . New 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. Cross and longitudinal sections are being prepared and will be shared
shortly.
Numerous geophysical targets and key VMS-associated structural controls provide additional high-value targets for
planned Q1 2025 drill programs.
Table 1: T2 Metals Drill Coordinates, 2024 Program (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-NE FOLD 370836 6114764 348 335.0 -50 237
Table 2: T2 Metals Drill Assay Results, 2024 Program
SampleID From (m) To (m) Length (m) Cu (%) Zn (%) Pb (%) Au (ppm) Ag (ppm)
SHN23012DPN
5386204 132.25 133.00 0.75 0.36 0.04 0.03 0.18 3.4
5386205 133.00 134.00 1.00 0.39 0.39 0.14 1.84 11.8
SNH24014
5386071 95.40 96.00 0.60 0.09 0.02 0.02 0.133 0.9
5386072 96.00 97.15 1.15 0.4 0.07 0.03 0.254 3.8
5386073 97.15 98.00 0.85 3.51 7.92 0.02 0.393 30
5386074 98.00 99.00 1.00 2.61 9.51 0.01 1.906 23
5386076 99.00 100.00 1.00 3.22 2.62 0.01 1.184 28.2
5386077 100.00 100.71 0.71 0.12 0.05 0.05 0.206 1.1
5386078 100.71 101.68 0.97 1.27 1.74 0.04 0.559 11.6
5386079 101.68 102.50 0.82 0.6 0.43 0.03 0.542 5.1
5386081 102.50 103.00 0.50 1.32 0.17 0.07 0.275 11.9
5386082 103.00 103.64 0.64 0.84 1.07 0.04 0.164 7.4
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SampleID From (m) To (m) Length (m) Cu (%) Zn (%) Pb (%) Au (ppm) Ag (ppm)
SHN24015
5386135 49.06 49.55 0.49 0.63 0.29 0 0.2 4.5
5386136 49.55 50.00 0.45 4.53 5.34 0 6.78 37.7
5386137 50.00 50.99 0.99 4.62 8.72 0.01 2.24 42
5386138 50.99 52.00 1.01 0.55 0.14 0.05 0.13 4.7
5386139 52.00 53.00 1.00 1.57 0.58 0.03 0.46 15.2
5386140 53.00 54.00 1.00 3.12 3.46 0.01 0.3 27.7
5386141 54.00 55.00 1.00 1.05 0.43 0 0.19 8.8
5386142 55.00 55.68 0.68 0.88 0.21 0.02 0.23 7.9
SHN24016
5386177 121.18 122.00 0.82 2.21 1.1 0.01 0.42 14.5
5386178 122.00 123.00 1.00 0.94 1.05 0.02 0.21 6
5386179 123.00 124.00 1.00 1.91 0.35 0.03 0.56 12.2
5386180 124.00 125.00 1.00 1.74 1.65 0.02 0.48 11.9
5386181 125.00 125.87 0.87 1.34 1.95 0.02 0.39 9
SHN24017
5386241 174.36 175.00 0.64 0.23 0.42 0.01 0.04 2.7
5386242 175.00 176.00 1.00 0.19 0.09 0.01 0.03 2
SHN24018
5386281 161.92 163.02 1.10 0.22 0.75 0.01 0.24 3.7
5386282 163.02 164.00 0.98 0.44 0.66 0 0.19 7.3
5386283 164.00 165.00 1.00 0.44 0.41 0.01 0.19 8
5386284 165.00 166.00 1.00 0.38 0.03 0.03 0.06 6.1
5386285 166.00 167.00 1.00 0.27 0.22 0.02 0.09 4.1
5386286 167.00 168.00 1.00 0.31 0.21 0.02 0.19 5.1
5386287 168.00 169.00 1.00 0.32 0.26 0.02 0.12 4.4
5386288 169.00 170.00 1.00 0.58 0.64 0.03 0.35 9.6
5386289 170.00 171.00 1.00 0.21 0.2 0.03 0.07 3.3
5386291 171.00 171.37 0.37 0.16 0.08 0.02 0.07 2.9
5386299 178.06 178.65 0.59 0.42 0.25 0.01 0.25 7.8
5386300 178.65 179.50 0.85 0.04 0.04 0.01 0.06 1.1
5386301 179.50 180.12 0.62 0.07 0.2 0.01 0.03 1.6
5386302 180.12 181.00 0.88 0.19 1.16 0.03 0.17 5.8
5386303 181.00 182.00 1.00 0.17 0.37 0.02 0.14 4.2
5386304 182.00 183.00 1.00 0.16 0.16 0.02 0.15 8.4
5386305 183.00 184.00 1.00 0.27 0.44 0.01 0.21 7
5386306 184.00 185.00 1.00 0.15 1.74 0.01 0.14 5.1
5386307 185.00 186.00 1.00 0.24 1.26 0.02 0.29 7.1
5386308 186.00 187.00 1.00 0.28 2.22 0.04 0.22 11.5
5386309 187.00 188.00 1.00 0.26 1.37 0.03 0.26 7.1
5386311 188.00 189.00 1.00 0.2 1.24 0.04 0.13 18.1
5386312 189.00 190.00 1.00 0.36 1.57 0.04 0.27 10.6
5386313 190.00 191.03 1.03 0.18 2.28 0.03 0.92 5.3
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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.
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.
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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. Th e Company will need to conduct further
exploration, and there is no guarantee that the results obtained will reflect the 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. 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.
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 securely 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 n 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.
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About T2 Metals Corp (TSX.V: TWO) (OTCQB: TWOSF) (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.