Borealis Announces First Gold Pour

Rhea-AI Summary

Borealis Mining (OTC:BORMF) has achieved a significant milestone with its first successful gold and silver doré pour at the Borealis minesite. The pour yielded 956.7 troy ounces of doré in two bars, with preliminary results indicating approximately a 50-50 gold-silver ratio.

The company is actively processing oxide material through heap leaching, with 106,000 tons currently under cyanide solution treatment and an additional 34,000 tons crushed and ready for leaching. The doré has been sent to Asahi Refining in Salt Lake City for refining and sale, with the next pour expected in several weeks.

The Borealis mine, located near Hawthorne, NV, is fully permitted and has historically produced over 600,000 ounces of gold from open pit heap leach operations. The property maintains significant expansion potential and hasn't been extensively drilled since 2011, except for recent efforts in 2024-2025.

Positive

• First successful gold and silver doré production from fresh oxide material
• Significant processing capacity with 106,000 tons under treatment and 34,000 tons ready for leaching
• Fully permitted and equipped mine infrastructure in place
• Expected steady revenue stream for next several months
• Historical production of over 600,000 ounces of gold demonstrates proven potential

Negative

• Exact gold-silver ratio and final value still pending assay results
• Future expansion may require additional permit modifications with uncertain timeline
• Limited recent drilling data (no drilling between 2011-2024)

Toronto, Ontario--(Newsfile Corp. - September 29, 2025) - Borealis Mining Company Limited (TSXV: BOGO) (OTC Pink: BORMF) (FSE: L4B0) (the "Company" or "Borealis") is pleased to announce that it has successfully completed the first pour of gold and silver doré from the previously announced stockpile crushing and heap leaching at the Borealis minesite. A total of 65.6 pounds, equivalent to 956.7 troy ounces of doré was poured in two bars as shown in Figure 1 & Video 1.

The Company has sent the doré to Asahi Refining in Salt Lake City, Utah, for refining and eventual sale. Borealis is awaiting assay results from the pour to determine the grade and value of the doré but preliminary results indicate roughly a 50-50 gold-silver ratio, plus some additional waste metal. Heap leaching and crushing of the stockpile of oxide material continues, with approximately 106,000 tons being treated with cyanide solution and another 34,000 tons crushed and not yet subjected to heap leaching. Gold and silver are actively being collected in Borealis' carbon columns and the Company anticipates its next pour in several weeks.

Andreas Steckenborn, COO of Borealis, states, "This is a genuine milestone for our team, the Company, and its shareholders. This pour represents the first genuine gold and silver production from fresh oxide material that Borealis has crushed, trucked to the leach pad and treated with cyanide. We've spent an immense amount of time and effort over the past two years optimizing our operations and training and the result was a perfectly executed pour. Our carbon columns are well-loaded with gold and silver for the next pour which should occur in the next few weeks. Borealis stakeholders can look forward to steady revenue for the the next several months, which we intend to grow upon with the upcoming re-start of the Borealis mine. We will update the market on timing of the re-start of mining in the near term."

Figure 1: Andreas Steckenborn, COO, and Kelly Malcolm, CEO, holding freshly poured doré bars at the fully permitted Borealis Minesite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9344/268269_7e9bdb71a499f920_001full.jpg

Video 1: Video of the gold pouring process, resulting in one full and one partial doré bar for a total saleable weight of 65.6 pounds, equivalent to 956.7 troy ounces of doré.

Cannot view this video? Visit:
https://www.youtube.com/watch?v=DhSsKXrIq4o

Qualified Person and QA&QC

The scientific and technical content of this news release was reviewed, verified, and approved by Kelly Malcolm, P.Geo., Chief Executive Officer of the Company, and a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Borealis Mine

The Borealis mine property, located close to the town of Hawthorne, NV, is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure, and a functional ADR facility which produces doré bars. The project has historically produced over 600,000¹ ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011, aside from Borealis' efforts in 2024 and 2025. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets. ¹Please see the Borealis Mine technical report entitled "NI 43-101 Technical Report, Project Status Report, Borealis Mine, Nevada, U.S.A." authored by Douglas Reid, P.Eng. of SRK Consulting, dated February 16, 2024. The report can be found on SEDAR+ or the Borealis website.

The Borealis Project holds existing federal and state permits for mining and processing operations. However, certain permit modifications may be required for expanded production, and the timeline for such approvals is subject to regulatory review. The Company cannot guarantee the timing or success of any permit modifications that may be required for future expansions.

About Borealis

Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis Mine in Nevada and the advancement of its Sandman project also in Nevada. The Borealis Mine is a fully permitted mine site, equipped with active heap leach pads, an ADR facility, and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprised of 815 unpatented mining claims of approximately 20 acres each totaling approximately 16,300 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulfidation gold mineralization. The Sandman project, recently acquired through the acquisition of Gold Bull Resources Inc., is an advanced exploration project with a recently completed (2021) NI 43-101 compliant resource and a recent (2023) Preliminary Economic Assessment which indicates compelling economics, particularly in light of the increase in commodity prices since publication of the study. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.

For further information, please contact:

Kelly Malcolm
President and Chief Executive Officer
info@BorealisMining.com
Office: (289) 371-3371

This news release may contain certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268269

FAQ

What was the size of Borealis Mining's (BORMF) first gold pour in September 2025?

Borealis Mining's first pour produced 956.7 troy ounces of doré (65.6 pounds) in two bars, with preliminary results indicating approximately a 50-50 gold-silver ratio.

How much material is currently being processed at the Borealis mine?

The mine is currently processing 106,000 tons of oxide material with cyanide solution treatment, and has an additional 34,000 tons crushed and ready for heap leaching.

What is the historical production of the Borealis mine in Nevada?

The Borealis mine has historically produced over 600,000 ounces of gold from its open pit heap leach operation.

When does Borealis Mining (BORMF) expect its next gold pour?

The company expects its next pour to occur in several weeks, with gold and silver actively being collected in their carbon columns.

What permits does Borealis Mining hold for its Nevada operations?

Borealis holds existing federal and state permits for mining and processing operations, though future expansions may require permit modifications.