Fleur de Lys — Sokoman

Project Summary

A district-scale property in Northwestern Newfoundland, targeting Dalradian-style orogenic gold deposits

Total of 1,315 claims (328.75 sq. km)
Previously minimally explored for Au
Numerous cross-cutting structures
Known gold anomalies in till/soil/rock/lakes
Adjacent to Newfoundland’s recent Au production on the Baie Verte Peninsula
A district-scale project acquired, largely for staking costs and limited ongoing costs

Highlights

Geological equivalent to the Dalradian belt in the Northern UK Caledonides (location of the six-million-oz Curraghinalt Deposit, an underground gold mine being developed in Tyrone County, Northern Ireland)

Initial Sokoman till sampling returned more than 200 gold grains with almost 50% pristine
There are unexplained gold anomalies in government-collected lake sediments and tills
98% of property is 100% owned with no royalties or required payments
Historic exploration is scattered and quite limited - virtually none since late 1990s
Only one drill hole for gold (1980s)
Historic gold in bedrock values ranged from 3.3 to 25.5 g/t gold but were not drilled
Recent Federal/Provincial mapping and airborne geophysics available in a newly released digital geoscience atlas of the Baie Verte Peninsula
Excellent infrastructure including ready access via hundreds of kilometres of paved secondary highways and forest-access roads

An analogous geological setting, at multiple levels, to the multi-million-ounce Dalradian-style gold deposit in Ireland/UK. (e.g., Curraghinalt). This orogenic vein-hosted gold prospect represents a readily accessible yet underexplored, district-scale, gold target in the Newfoundland Appalachians.

In December 2024, Timothy Froude, P. Geo., President and CEO of Sokoman Minerals, stated, “The inaugural drill program at Fleur de Lys was conducted on an 8 km2 section of the 329 km2 Fleur de Lys Project. It returned many promising results, with 50% of the drill holes intersecting gold-bearing structures. The final and most northerly hole (FDL-24-23) intersected five separate gold-bearing veins, which indicates a new direction for further exploration.

We are highly encouraged by our progress, even though we have yet to pinpoint the source of the high-grade Golden Bull gold-mineralized boulder field. We will be interpreting the information collected to date as well as future geophysical surveys to further define the mineralized structures before planning a Phase 2 drill program.”

Completed in December 2024, the Phase 1 drill program at the 100%-owned Fleur de Lys Project, included 23 drill holes. Twenty reconnaissance drill holes evaluated high-priority geochemical and/or geophysical targets, including seven holes in the immediate vicinity of the gold-bearing Golden Bull discovery boulders. Three others (FDL-24-9,10, and 17) tested historic showings discovered by Noranda in the late 1980s.

Twelve of the drill holes, including the three holes on the Noranda targets, intersected gold mineralization (>200 ppb). To locate the source of the large, mineralized boulders, exploration, including prospecting, mapping, geophysics, trenching, and a Phase 2 drilling program, is planned for 2025.

NOTE: Due to some samples assaying greater than 1000 ppb Au, final results will be posted at a later date. The additional analysis will not affect the table of results posted today as the samples to be re-assayed by metallics were not initially marked for metallics assaying.

In August 2024, a diamond drill rig was mobilized to the Fleur de Lys Property, with drilling to commence immediately. A 2,000-m, Phase 1 program was intended to test historical showings and targets generated by Sokoman’s 2021-2024 till / prospecting programs, including the Golden Bull prospect discovered in 2023.

The program was planned for about 2,000 metres, with drilling beginning at the southern end of the area to test targets identified, but not tested, by Noranda in the 1980s and ending at the Golden Bull area in the central portion of the six to eight sq-km target area with approximately 50% of the program planned for the Golden Bull area.

The target area includes several discrete targets highlighted by the Golden Bull Prospect, which is defined by 124 grab samples, with visible gold noted, and with 34 values >500 ppb Au to a maximum of 9,020 ppb (9.02 g/t) Au, in laterally extensive, stylolitic quartz float consisting of angular to sub-angular boulders. Approximately 50% of the grab samples from the broader Golden Bull target area have given values >100 ppb Au, suggesting the potential for additional, undiscovered gold zones.

Up to July 2024, the Company had collected and received assay results for 89 rock samples from Fleur de Lys. Most samples were collected from the northern portion of the property, where winter logging activities have opened a large area of prospective ground, including several discreet target areas over a six to eight sq-km area highlighted by the Golden Bull Prospect discovered in late 2023. The total number of samples collected since late 2023 is 124, 34 of which returned gold values greater than 500 ppb to a maximum of 9,020 ppb gold (9.02 g/t Au). More than half of all samples collected over the broader Golden Bull target area since 2023 have returned greater than 100 ppb gold, suggesting potential for additional, undiscovered gold zones at Fleur de Lys.

Highlights of the 2024 rock sampling program include:

89 samples collected and assayed of quartz vein float and quartz vein bedrock samples
37 samples returned gold assays greater than 100 ppb gold (0.1 g/t Au)
12 samples returned gold assays greater than 1,000 ppb gold (1.0 g/t Au) to a maximum of 5,472 ppb gold (5.47 g/t Au)
Five samples greater than 1.0 g/t Au were from bedrock grabs
Multiple high-priority drill targets are now confirmed for the upcoming Phase 1 drill program, which will focus on the Golden Bull target area; four other areas will also be drill tested

In May 2024, an exploration program at the 100%-owned Fleur de Lys gold project had commenced -ahead of schedule due to an earlier than normal snowmelt over the northern and central Baie Verte Peninsula. The program will begin on areas of active logging has been completed around the Golden Bull Prospect and then extended to other target areas as there are many unexplained till geochemical anomalies elsewhere on the property that we will be working on as part of the 2024 program.

Up to October 2023, ongoing exploration at Fleur de Lys has outlined an area of very angular, visible gold-bearing float dubbed the Golden Bull Prospect, measuring 300 m in length and as yet unknown width, with numerous pieces of banded quartz weighing up to several tonnes. The Golden Bull Prospect is in the northern portion of the property. The Golden Bull mineralization consists of strongly stylolitic (banded) quartz, with up to 2% disseminated pyrite, arsenopyrite, sphalerite, and minor chalcopyrite. Visible gold is noted. Assay results from metallics assays of the grab samples suggest that visible gold is common in the Golden Bull Prospect veins based on the amount of gold reporting to the coarse fraction (+ 150 mesh) with seven samples giving values from 11,131 to 148,603 ppb Au.

The Golden Bull Prospect consists of 35 rock grab samples of variably banded, stylolitic, quartz blocks, some weighing several tonnes (see news release dated October 4, 2023). Seventeen samples with moderate to strong stylolitic banding, gave Au values >500 ppb (0.50 g/t Au) to a high of 9,020 ppb (9.02 g/t Au). The Prospect lies in a larger area of anomalous till and soil geochemistry defined by Sokoman in 2023, where geochemical and geophysical (VLF-EM) anomalies occur in historical work by Noranda Inc. in the late 1980s.

A field crew was mobilized to prospect the newly logged areas to define drill targets. The initial drilling will be a 2,000 m program of holes from 50 m to 150 m testing surface geochemical and geophysical anomalies in the Golden Bull area was planned.

In August 2023, a two-day scouting trip to Fleur de Lys has located the highest-grade rock sample values since staking the property in 2020. Grab sampling in an area that gave values up to 3.2 g/t Au in 1987 has not only verified the original showing but returned substantially higher grades, including the highest-grade value located by Sokoman - 13.96 g/t Au, from a 1- to 2-metre-wide shear zone with stringer quartz veining and 20%-30% pyrite with minor arsenopyrite. Five rock samples were collected at random intervals along a 15-20 m section along an old logging road. Four samples of mineralized shear returned assays of 13.96, 5.89, 2.55, and 1.46 g/t Au using metallic sieve gold analysis. A fifth sample of unmineralized wall-rock, gave 20 ppb Au.

Company representatives went on a field tour and examined the significant gold deposits in the northern part of Ireland. The trip confirmed that many features are directly comparable between Fleur de Lys and the Irish gold deposits.

A property-scale C-Horizon Till sampling program (1,260 samples) implemented and overseen by Overburden Drilling Management (ODM), in 2022, outlined strongly anomalous gold in tills overlying favourable rocks and structures with significant gold values in both float and bedrock. The background level of gold grains in tills for the project has been determined to be 10 grains in a 10- to 12-kilogram sample of screened till. ODM considers a Fleur de Lys sample to be anomalous if it contains two-times background or 20 gold grains. Results indicate that of the 1,260 samples collected, 328 samples, or just over 25%, have at least 20 gold grains (to a maximum of 230 grains) and are considered anomalous. Fifty-five samples contain at least 60 grains (six-times background) with multiple samples containing more than 50% pristine gold grains. Gold grains described as pristine are considered to be from a local bedrock source. Of note - most gold grains at Fleur de Lys are small (<1 mm) as is most of the gold at Curraghinalt, where gold is intimately associated with pyrite mineralization in quartz veins.

In addition, limited prospecting has located anomalous gold in bedrock and float with 34 samples giving gold values >100 ppb Au (0.1 g/t Au), including 18 samples >500 ppb Au (0.5 g/t Au), and 10 samples >1000 ppb Au (>1.0 g/t Au) with a maximum of 6.2 g/t Au. The highest gold value was in an outcrop (a grab sample) in an area of strong gold-grain counts. A regional airborne magnetic survey (Geological Survey of Canada (GSC) - 2015) over the Baie Verte Peninsula suggested that multiple crosscutting structures occur in the vicinity of several strong gold in till anomalies and in multiple rock (grab and float) gold-bearing samples, all within a 5-8 km corridor adjacent to the Baie Verte Line. Interpretation of the till results by ODM defines a target area of 30-km strike-length, with better-defined anomalies located within this 30 km-long area.

Prior to acquisition reconnaissance till sampling by Sokoman in 2019/20 over the “then” Crown Land in the Fleur de Lys belt has defined multiple gold targets, defined by 129 C-Horizon Till samples sent to Overburden Drilling Management (ODM) in Ottawa, Ontario for gold grain analysis. Results gave 38 samples with >20 grains, 14 >40 grains with a maximum of 122 grains. Many samples with high gold-grain counts have a high percentage (30%-80%) of pristine grains, suggesting a local, probably less than 1 km, source for the gold.