Respected VMS Geologist and Industry Leader Peter Dimmell Joins Callinex’s Board of Directors

Rhea-AI Summary

Callinex Mines (OTCQX: CLLXF) has appointed Peter Dimmell, a Professional Geologist with over 50 years of experience, to its Board of Directors as the lead director on the technical committee. Dimmell was part of the original discovery team of the Point Leamington VMS deposit, which contains significant gold, copper, zinc, and silver resources.

The Point Leamington Project's current resources include an Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq (402 koz AuEq) and an Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq (986.5 koz AuEq). Additionally, Callinex has acquired a new mineral license adjacent to the project through a purchase agreement involving 50,000 common shares and a 1% NSR royalty.

Dimmell brings extensive industry leadership experience as a past president of PDAC and current board member of the Canadian Mining Hall of Fame.

Positive

• Appointment of highly experienced VMS expert Peter Dimmell who was part of the original deposit discovery team
• Significant mineral resource base with 402 koz AuEq Indicated and 986.5 koz AuEq Inferred resources
• Strategic acquisition of adjacent mineral license expanding the project footprint
• Project located near infrastructure with road access and proximity to power grid

Negative

• 1% NSR royalty obligation on newly acquired claims
• Limited exploration completed on the deposit in recent years

Highlights:

• Newly appointed director and Callinex technical advisor was part of the discovery group for the gold, copper, zinc and silver Pt. Leamington VMS deposit, which the Company is advancing, and was also involved with exploration/development of the Rambler and Duck Pond mines on the Island of Newfoundland;
• A P.Geo. and exploration consultant with over 50 years of experience exploring for and discovering VMS and gold deposits; 
• A mining industry leader who sits on the board of the Canadian Mining Hall of Fame, and a President of the PDAC and Chairman of Mining Industry NL; and
• He will assist the Company in advancing the Pt. Leamington deposit and encompassing land package through further exploration. 

VANCOUVER, British Columbia, July 30, 2025 (GLOBE NEWSWIRE) -- Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has appointed Professional Geologist (P.Geo) and exploration consultant, Mr. Peter Dimmell to the Company’s Board of Directors as the lead director on the technical committee. Mr. Dimmell, while working with Noranda, was part of the discovery and delineation team of the gold, copper, zinc and silver rich Pt. Leamington volcanogenic massive sulphide (“VMS”) deposit (the “Deposit”). Mr. Dimmell was also involved with exploration and production at the past producing Rambler Mine (now owned by Firefly Metals) and exploration leading to the discovery of the Duck Pond mine on the Island of Newfoundland. Peter will bring over 50 years of exploration experience to create immediate value to the Company as it advances the Pt. Leamington Project.

Max Porterfield, President & CEO of Callinex Mines, stated, “We are pleased to welcome Mr. Dimmell to our team as we advance the Pt. Leamington Deposit in Newfoundland. Peter’s unique tie to the Deposit, subsequent experience and passion for exploration will no doubt add immense value to the Company and its shareholders. Our team has already enjoyed working with Peter in the field as we plan for our upcoming exploration campaign, which we will soon announce.”

Peter Dimell, Callinex Director, commented, “I’m excited to be involved with exploration and development on the Pt. Leamington Deposit again after so many years. Limited exploration has been completed on the Deposit since I left and I believe there’s potential to significantly grow the resource. I’m also eager to get to work with the rest of the team to outline opportunities to discover additional deposits in proximity to the Deposit.”

Mr. Dimmell is a P.Geo registered in NL and ON and is a Fellow of Geoscientists Canada. He is a past president of the Prospectors and Developers Association of Canada (PDAC) from 2004-2006, a past Chairman and executive director of Mining Industry NL, a member and past councillor of the Geological Association of Canada, a member of the Canadian Institute of Mining, Metallurgy and Petroleum, and an associate member of the Association of Applied Geochemists and the Society of Economic Geologists. He currently sits on the board of the Canadian Mining Hall of Fame as a PDAC representative.  He has served on the boards and associated board committees of both TSX and TSX-V listed companies.

The Point Leamington Project, consisting of Mining Lease 136 (2655), is located in central Newfoundland approximately 37km by road/trails from the City of Grand Falls-Windsor and approximately 20km from the provincial power grid. Callinex prepared a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021).

The Deposit is a large, felsic-hosted VMS deposit that dips 70 degrees to the west, has a strike length of 500m, and a maximum thickness of 85m. Massive sulphides have been intercepted to a depth of 360m below surface in 21,714m of drilling in 72 drill holes. Regional government mapping and lithogeochemical sampling has indicated that Point Leamington’s host volcanic stratigraphy extends well beyond the vicinity of the Deposit.

Acquisition of Mineral License

Callinex is also pleased to announce it has entered into a purchase agreement with RDF Consulting Ltd., a third party property vendor, (the “Vendor”) whereby Callinex has agreed to purchase one (1) mineral license from the Vendor.  In consideration of which, Callinex has agreed to issue 50,000 common shares to the Vendor. The mineral license consists of 5 claims and is adjacent to Callinex’s Pt. Leamington Project, Newfoundland.

The shares to be issued to the Vendor will be subject to a four month hold period. Callinex will also grant a 1% net smelter return royalty to the Vendor, which can be repurchased for C$1,000,000.

The transaction is subject to the acceptance of the TSX Venture Exchange.

Qualified Person
The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, P. Geo, a qualified person under NI 43-101.  Ms. Hutchins is a consultant of the Company and is independent of the Company.  Historical information was verified from geological reports filed with the government by previous operators.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTCQX: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the 100% owned Point Leamington Deposit in Newfoundland, located in one of the richest VMS and Gold Districts in Canada. Callinex prepared a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021). Additionally the Company is permitting the Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Callinex prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading 2.95% CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 Koz Ag, 0.8 Mlb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62% Cu containing 58.1 Mlb Cu (see news release dated July 10, 2023). Additionally, the portfolio includes the Nash Creek Project located in the VMS rich Bathurst Mining District of New Brunswick. A 2018 PEA generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax) at $1.25 Zinc (see news release dated May 14, 2018). 

For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@callinex.ca

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

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

FAQ

Who is Peter Dimmell and why is his appointment significant for Callinex Mines (CLLXF)?

Peter Dimmell is a Professional Geologist with over 50 years of experience who was part of the original discovery team of the Point Leamington VMS deposit. His appointment is significant because he brings direct historical knowledge of the deposit and extensive industry experience as a past PDAC president and Canadian Mining Hall of Fame board member.

What are the current mineral resources at Callinex's Point Leamington Project?

The Point Leamington Project has an Indicated Resource of 5.0 Mt at 2.5 g/t AuEq (402 koz AuEq) and an Inferred Resource of 13.7 Mt at 2.24 g/t AuEq (986.5 koz AuEq), plus an additional out-of-pit Inferred Resource.

What are the terms of Callinex's new mineral license acquisition near Point Leamington?

Callinex agreed to issue 50,000 common shares to RDF Consulting Ltd. and grant a 1% net smelter return royalty that can be repurchased for C$1,000,000. The license includes 5 claims adjacent to the Point Leamington Project.

Where is the Point Leamington Project located and what infrastructure is available?

The project is located in central Newfoundland, 37km from Grand Falls-Windsor and 20km from the provincial power grid, with access via roads and trails.

What are the physical characteristics of the Point Leamington VMS deposit?

The deposit dips 70 degrees west, has a strike length of 500m, and a maximum thickness of 85m. Massive sulphides have been intercepted to 360m depth through 21,714m of drilling in 72 holes.