TORONTO, ON — February 25, 2026 — Leads & Copy — Churchill Resources Inc. has announced promising drilling intercepts at its Black Raven Project in Central Newfoundland, revealing an extensive, polymetallic vein swarm hosting gold, silver, lead, zinc, and molybdenum at Pomley Cove Pond.
The initial “wildcat” drill holes, PC25-01 and PC25-02, intersected portions of the swarm, identifying at least 20 different veins within a 150m wide zone. These holes were drilled towards the end of Churchill’s 2025 winter exploration program.
Drill hole PC25-01 (vein 3) yielded 2.93 gpt Au Eq* / 1.37m, including 4.77 g/t Au, 118.4 g/t Ag, 4.05% Pb, and 9.6% Zn over 0.31m (from 65.74m), with molybdenum values exceeding the detection limit of 1000ppm.
Drill hole PC25-02 (vein 10) showed 9.17 gpt Au Eq / 0.20m, with 7.34 g/t Au, 87.2 g/t Ag, 2.35% Pb, and 2.14% Zn (from 41.98m). Additionally, PC25-02 (vein 4) returned 2.34 gpt Au Eq / 0.43m including 2.82 g/t Au and 21.7 g/t Ag over 0.23m (from 92.44m).
*Au Eq values were calculated using long-term metal price forecasts of $3000 opt Au, $45 opt Ag, $4.10/lb Cu, $0.85/lb Pb, $1.30/lb Zn and $20/lb Mo and recovery factors of 95% for all metals as not metallurgical studies have been commissioned as yet on PC Pond material.
Churchill President Paul Sobie stated that Pomley Cove Pond is a significant emerging focus for the company at Black Raven, and the results support the interpretation that the Black Raven Property may be a central locus to a large-scale polymetallic system with multiple mineralized fluid pulses. He noted that Pomley Cove exhibits strong silicification associated with disseminated and vein mineralization within an area characterized by a historic IP survey chargeability high, representing a portion of a larger 800m x1200m area with similar IP features. Soil sampling in 2025 also returned strongly anomalous results for gold, silver, molybdenum, and arsenic in the Pomley Cove Pond area.
The company plans to commence drilling and trenching in late March, initially lengthening holes PC25-01 and 02, followed by trenching and drilling of other IP/soil targets, pending permit approvals.
The consistency in grade and polymetallic character of these drill results aligns with previously reported surface trench results, suggesting continuity from surface to subsurface and increasing molybdenum grades with depth. The polymetallic signature (Au-Ag-Mo-Pb-Zn-Arsenopyrite) is typical of orogenic gold systems and intrusion-related polymetallic veins in Central Newfoundland.
Pomley Cove Pond is one of five prospective exploration areas within the Black Raven Project, including the historic Frost Cove Antimony Mine. Churchill has systematically advanced Pomley Cove Pond from soil sampling to surface trenching, utilizing a historical (2012) Induced Polarization (IP) survey to identify targets.
Based on the initial drill success, Churchill is executing a winter program consisting of 10 trenches and 15-20 drill holes to test additional IP targets and lengthen the original discovery holes, along with further drilling at Frost Cove and possibly Taylor’s Room.
The discoveries reported are from Churchill’s Fall 2025 exploration program at Black Raven, designed to evaluate the Frost Cove Mine structure for antimony and explore the potential for broader polymetallic mineralization. The program included 50 diamond drillholes, totaling 5,176m, along with extensive channel and soil sampling. The news release provides results for the two Pomley Cove Pond drillholes, with 32 drill holes to be reported from other sites.
The Black Raven Project is characterized by high-tenor antimony mineralization and a perceived property-wide gold-silver-antimony system. Churchill aims to evaluate the project’s potential as a small-footprint, high-grade underground mine, intending to gather sufficient data to support initial resource estimates and advance towards a National Instrument 43-101 compliant maiden resource. The project encompasses the past-producing Frost Cove Antimony Mine and Stewart Gold Mine and benefits from excellent infrastructure.
Antimony is recognized as a vital critical mineral, essential for Canada’s national and economic security, with applications in military, flame retardants, batteries, and energy storage technologies.
Churchill Resources Inc. is focused on exploration and evaluation of strategic and critical metals in Canada, principally at its properties in Newfoundland & Labrador.
The technical information in this release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, a qualified person under National Instrument 43-101.
Samples were collected by Company geologists and analyzed by Eastern Analytical (EA) laboratory in Springdale, NL.
Source: Churchill Resources Inc.
