Progress of 2024 Drilling Program of the Cartier’s Chimo Mine Project

Highlights of this press release:

• PHASE I (in frozen ground) of the 2024 Drilling Program completed (FIGURE 1)
  • 48 drill holes for a total of 9,347 m
  • 2,307 samples collected
  • 66% of results received from laboratory to date
  • Confirmation to date, outside of resources* area, of high grade gold mineralization potential at shallow depths along Favorable Gold Strike of the Chimo Mine Project; over a distance of 2.4 km (blue dotted ellipse FIGURE 1)
    
• PHASE II (in thawed ground) of the 2024 Drilling Program in progress
  
  • Additional 115 holes for a total of 16,000 m which will explore the gold potential over an additional length of 6.0 km from the Favorable Gold Strike of the Chimo Mine Project (yellow ellipses FIGURE 1).

* NI 43-101 Mineral Resources Estimate for Chimo Mine and West Nordeau Gold Deposits, Québec, Canada, Vincent Nadeau-Benoit, P.Geo., Alain Carrier, P.Geo., M.Sc. and Marc R. Beauvais, P.Eng., InnovExplo Inc., August 22^nd, 2022.

VAL-D’OR, Quebec, May 14, 2024 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSXV: ECR, FSE: 6CA) (“Cartier” or the “Company”) provides an update of progress of its 2024 Drilling Program (FIGURE 1) for the Chimo Mine Project (FIGURE 2). The Project comprises the Chimo Mine and East Cadillac properties, the latter of which was acquired on April 7, 2022. Cartier began exploring this new part of the Project on January 4^th, 2024. Both properties are 100% owned by Cartier and strategically located 45 km east of the Val-d’Or mining camp.

The objective of the Program is to explore new gold zones adjacent to the Chimo Mine resources* area, within the Larder Lake - Cadillac faults corridor, with 165 drill holes for a total of 25,000 m. Drilling focuses on the 50 best historical results (FIGURE 3), from 780 drill holes dating from 1937 to 2021. The Favorable Gold Strike, explored by this Program, is 10 km long, 75% of which was acquired by Cartier in April 2022.

Phase I of the Program was in the wetlands of the Project, which can be more practically drilled in the winter. Phase II drilling operations will continue in forested areas on the remainder of the property, until the end of 2024.

« Beyond confirming the Project’s potential for high-grade gold mineralization at shallow depths along strike of the core Chimo Mine Gold System, the operational performance of the Program in frozen terrain, in exceptionally mild temperatures, was higher than expected » commented Cartier’s President and CEO, adding that « we are confident that high-grade gold structures continue even further east and west of the Chimo Mine resources* ».