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Wyloo Metals Earn 51% interest in Orford Mine's West Raglan Nickel-Copper-PGE Project

Feb 14, 2023

Orford Mining Corporation reported it has completed exploration expenditures on the West Raglan Project totaling $6,125,057 funded by Wyloo Metals Pty. Ltd. allowing Wyloo to satisfy the first earn-in milestone and acquire 51% ownership interest in the West Raglan Project based on the Option and Joint Venture Agreement dated January 18, 2021.  The agreement required that Wyloo fund C$6,000,000 in exploration expenditures on the property by January 18, 2025. Wyloo accelerated the funding schedule by completing the required expenditures by January 18, 2023. As a result, Wyloo has elected to acquire 51% ownership interest in the West Raglan high-grade nickel project immediately. 

Wyloo has also notified Orford it is exercising the Second Earn-In Option provided for in the Agreement. The Second Earn-In Option requires Wyloo to fund an additional C$5 million in expenditures on the West Raglan property by January 18, 2026 to earn an additional 19% interest in the property (taking Wyloo's gross interest in the project to 70%). 

"Orford is very excited to reach this milestone with our partner at West Raglan and looks forward to continuing to move the project forward with Wyloo,” said David Christie, President and CEO of Orford Mining.

“ The West Raglan High-Grade nickel-copper-PGM project has yielded significant high-grade intersections including 28.3 m grading 3.2% nickel, 1.32% copper, 2.4 g/t palladium, and 0.7 g/t platinum at the Seahawk Lens and tremendous unexplored potential remains across the 707 square kilometre property," added Christie.

Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

About the West Raglan Property

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The West Raglan property is a large 707 km2 property situated in the Cape Smith Belt in the Nunavik Region of Northern Quebec. West Raglan Ni, Cu, PGE, Co mineralization is hosted in the ultramafic units of the Lac Esker Suite (1.89-1.87 Ga). 

These ultramafic units host all known nickel sulphide mineralization in the Cape Smith Belt, including Glencore's Raglan mine (North Trend) and the Canadian Royalties, Nunavik Nickel mine hosted on the South Trend. The West Raglan property covers a 50-km strike of both the "North" trend, that hosts Raglan- style deposits, and the "South" Trend, that hosts Canadian Royalties-style deposits. Raglan is a first quartile cash cost nickel producer with one of the highest-grade reserves amongst significant global nickel deposits (Proven and Probable Reserves as of December 2021 of 9.32 million tonnes at 2.66% Ni, 0.74% Cu, 0.79 g/t Pt, 1.91 g/t Pd and 0.06% Co2. Information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.

Historically, six significant discoveries have been made on the West Raglan property with the best results being from the Frontier Zone. The Frontier Zone contains five high grade Nickel-Copper-Platinum Group Metal (Ni-Cu-PGM) mineralized lens clusters over a 2,500 meter strike with grades in the range of 2-3% Nickel, 1% copper and 2+gpt PGM including a drill intersection of 28.3 m grading 3.2% Nickel, 1.32% Copper, 2.4 g/t Palladium, and 0.7 g/t Platinum at the Seahawk Lens. The Beverly and Boomerang areas of the West Raglan property have had very limited historical drill testing, but have surface showing reporting up to 1.34% Ni, 0.35% Cu and 2.3g/t (Pd+Pt).Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.  Note that grab samples are selective by nature and values reported may not be representative of mineralized zones.

About Orford Mining Corporation
Orford Mining is a gold explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik, West Raglan and lithium exploration projects comprising a land package totaling over 154,400 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. The West Raglan Project hosts a number of high-grade Raglan-style nickel/copper/platinum group metal discoveries along a 55 km mineralized trend. 

The lithium claim blocks acquired in the Nunavik Region in 2023 have been carefully selected as having promising lithium potential after an exhaustive compilation of available data.  Orford also has four property positions in the Joutel region of the Abitibi District of Northern Quebec, which hosts historical deposits such as the Eagle/Telbel, Joutel Copper, Poirier Copper, and Vezza deposits. Orford continually seeks new gold exploration opportunities in North America. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford Mining's properties.

The disclosure of scientific and technical information contained in this news release has been approved by Alger St-Jean, P.Geo., Chief Geoscientist of Orford, a Qualified Person under NI 43-101. The historical information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo. titled "NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada" effective February 20, 2017 and on Orford's news releases available on SEDAR. To view further details about Orford's exploration projects please visit Orford's website, www.orfordmining.com.

About Wyloo Metals
Wyloo Metals is a company of Tattarang, one of Australia’s largest private investment groups. In Canada, the company purchased Noront Resources interests in Ontario’s Ring of Fire where it now is operating as Ring of Fire Metals. Wyloo also signed Options Agreements with Orford Mining. In November, 2022, Wyloo acquired 100 per cent of Baie de Moisie, a 3,000-hectare exploration property located 40 kilometres northeast of Sept-Iles in the Grenville region of Quebec, Canada. To view details about Wyloo Metals projects in Canada and Australis go to https://www.wyloometals.com

For further information: 
David Christie, President and CEO, 2 St. Clair Avenue West, 18th Floor, Toronto, ON M4V 1L5, T: 647-255-8037, www.orfordmining.com
Leanne Franco, M +61 447 494 474, P +61 8 6460 4949, lfranco@wyloometals.com

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