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EV Minerals sampling returns high-grade nickel and copper at Lunge Project in Sudbury

Mar 1, 2024

EV Minerals Corporation is pleased to announce results from the Lunge Project surface sampling, which the Company completed in connection with the proposed acquisition of the Baldwin and Lunge Projects. The company entered into a purchase agreement with Graycliff Exploration Limited dated February 23, 2024, and the Acquisition is scheduled to close on March 1, 2024.

EV Minerals mobilized a technical team to Lunge as part of the Company's due diligence for acquiring the Lunge and Baldwin Properties. The team collected a total of 35 samples with five (5) samples returning assay values of greater than 1% Nickel ("Ni"), and a total of seven (7) samples containing greater than 1% Copper ("Cu").

Notable highlights included high-grade Ni values from grab samples F420012 (1.14% Ni), 260850 (1.28% Ni), and F420013 (1.23% Ni). Additionally, significant Cu samples included 260845 (1.54% Cu), 260846 (1.15% Cu), 260842 (2.54% Cu), 171004 (2.44% Cu), and 171009 (2.04% Cu). Refer to Figure 1 for samples above 1% Cu, 1% Ni, or 1 g/t Au, and Table 1 for results above 0.5% Ni, 0.5% Cu, or 1 g/t Au.

EV Minerals President and CEO Nicholas Konkin said: "The presence of strongly elevated Nickel and Copper values at surface and across multiple sites on the Lunge Project, shows the exploration potential of the property. Additionally, we were intrigued by the discovery of gold mineralization. We will begin to plan our 2024 base line exploration program to compliment ongoing efforts at the EV Nickel property in Quebec."

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Figure 1: Lunge Project Surface Sample Results


About Baldwin & Lunge Projects

The Baldwin Project, comprised of the Main Baldwin Block and the Northeast Baldwin Block, spans 1,605 hectares, with the adjacent 587-hectare Lunge Project, located 6 km northeast, showcasing gold and critical minerals potential. Airborne geophysics on both projects revealed multiple new target areas for gold, copper, nickel, and platinum group elements (PGE) mineralization.

Baldwin, underlain by rocks of the Huronian Supergroup, exposes a major splay off the Murray Fault. The Elliot Lake Group dominates, comprising mafic, intermediate, and felsic metavolcanic rocks overlying or intercalated with McKim and Matinenda sedimentary formations. The region displays east-to-northeast trending with folding, notably southeast, featuring folded Nipissing sills along the Murray Fault. Significant faults, including Murray, Worthington, Fairbanks Lake, and Cameron Lake, are present.

The Lunge Property, situated 6 km along the Elliot Lake Group strike, hosts folded mafic Nipissing sills and dykes, indicating potential for copper, nickel, and PGE deposits.

Geologic feedback from the technical team indicates that the predominant host rock of the stronger mineralization was gabbro, exhibiting strong alteration and mineralization, predominantly featuring pyrrhotite, chalcopyrite, and pyrite.


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