Yellow Fox Antimony Project Update

Rhea-AI Summary

Metals Creek Resources (TSXV: MEK) provided an update on the Yellow Fox antimony, silver, and gold property being developed by option partner Lomiko Metals (TSXV: LMR). The property, located near Glenwood NL, has been expanded with 30 new claims totaling 748 hectares, bringing the total to 58 claims covering 1,446 hectares. Historic sampling revealed significant mineralization with grab samples showing up to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb. Lomiko plans a two-phase exploration program, with Phase 1 including 700 soil samples across 10 lines at 250-meter spacing. The property shares geological similarities with the nearby past-producing Beaver Brook antimony mine. Under the definitive agreement, Lomiko can acquire 100% interest through cash payments totaling $64,750 and share payments worth $328,375, with Metals Creek retaining a 2% NSR.

Positive

• Property expansion with 30 new claims, increasing total area to 1,446 hectares
• Historic high-grade samples showing significant mineralization (59.43g/t Au, 11.10% Sb)
• Strategic location near past-producing Beaver Brook antimony mine
• Well-defined exploration program with two phases planned
• Good infrastructure with excellent access via logging roads

Negative

• Early-stage exploration property with no proven resources
• Historic grab samples may not be representative of overall mineralization
• Significant payments required to complete the option agreement

Thunder Bay, Ontario--(Newsfile Corp. - May 1, 2025) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or Metals Creek), is pleased to announce that the Company has been advised by its option partner Lomiko Metals Inc. (TSXV: LMR) (Lomiko) of an update on the Yellow Fox, antimony, silver, and gold property acquired from Metals Creek as per news release issued on March 11^th, 2025 (https://lomiko.com/2025-news/lomiko-announces-work-program-on-yellow-fox-antimony-silver-and-gold-property-located-in-central-newfoundland-for-spring-2025/).

This property is on the same trend as the past-producing Beaver Brook antimony mine, which is located 25km southwest of the property. Yellow Fox is an early-stage exploration property prospective in antimony, gold, and silver where historic works returned samples anomalous in gold (Au), antimony (Sb), lead (Pb), zinc (Zn), and silver (Ag). Trenching exposed the rocks, resulting in grab samples to 59.43g/t Au, 11.10% Sb, 7.00% Zn, 72.90g/t Ag, and 5.50% Pb in arsenopyrite-stibnite veins within altered monzogranite. (See Metals Creek assessment report at https://gis.geosurv.gov.nl.ca/geofilePDFS/Batch2016/002D_0779.pdf)

Lomiko announces the expansion of the Yellow Fox's land package with a new claim block (039252M) for Yellow Fox, consisting of an additional 30 claims for a total of 748 hectares. Therefore, the entire property now consists of 58 claims for a total of 1,446 hectares. Lomiko looks forward to the completion of a targeted soil sampling field program, Phase 1. The plan is to complete 10 lines at 250 meters spacing and collect approximately 700 soil samples to better define existing highly prospective antimony, silver, and gold targets and further evaluate the area to the south of the Yellow Fox showing, where little to no work has been performed historically. Metals Creek will manage and complete the work program for Lomiko.

Yellow Fox antimony and gold prospect Spring 2025 Work Program

The Company reviewed existing data and devised a plan for the fieldwork program in the spring of 2025.

Phase 1 of the plan in the spring is focused on soil sampling with the following highlights:

• Soil sampling program targeted south of Yellow Fox, showing 59.413 g/t gold and areas of increased density of interpreted structures, See Figure 1.
• Approximately 700 soil samples on ten 250m spaced lines trending approximately 110 degrees with samples taken every 25m along the line.
• Should the soil sampling program be proven effective, expansion of the lines and additional lines to the south are warranted, which would be the focus of the Phase 2 program.
• Phase 2 will see the soil sampling completed on the 250-meter parallel grids at 25-meter spacing covering the southern end of the property.
• Phase 2 will also focus on ground truthing existing targets as well as following up on newly generated targets
• Depending on the results of the phase 1 testing, a targeted EM survey will be undertaken.

Please note that the results on an adjacent or nearby property (Beaver Brook) are not necessarily what can be expected on the Yellow Fox project and that the results of surface or grab samples, by their nature, this type of sample is selective and that the assay results may not be indicative of underlying mineralization.

Location Details

The Yellow Fox Property is located approximately 10 km southwest of the Town of Glenwood NL, and south of the Trans-Canada Highway. The Property occurs within NTS map sheets 02D/14 and 15 with excellent access along several logging and skidder roads originating from Glenwood. The main Yellow Fox showing is located in the central part of License 027536M, 5km from the western end of Gander Lake. The property is centred at approximately UTM (NAD 27) grid coordinates 5,419,400m North and 645,300m East.

Geologically, Yellow Fox exhibits similar traits to those of Beaver Brook with cross-cutting structural zones which show intense carbonate alteration with sulphide-bearing stringers to veins of stibnite and arsenopyrite with similar high-grade tenors of antimony, gold, lead, zinc, and silver. Arsenopyrite is also present in both locations. Two prominent fracture vein sets are present, one being the muscovite-pyrite-rutile veins trending 356 degrees and the second stibnite-quartz-arsenopyrite being the most abundant and trending 025 degrees. Both these vein sets are similar to that of the past producing Beaver Brook antimony Mine, and both vein sets trend in N to NE, which is the same as the prospective regional structures.

Figure 1. Yellow Fox Soil Sampling Work Program Phase 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/943/250440_d5872c5154170a25_002full.jpg

Definitive Agreement terms

Lomiko can acquire 100% of Metals Creeks's interest in all mineral rights forming part of the Property in consideration of:

(a) Lomiko shall have the right to acquire 100% of the right, title and interest in and to the Option Interests with Metals Creek retaining a 2% NSR by making the following payments:

(b) (i) in cash totaling $64,750, according to the following schedule:

1. on the Closing Date, $18,500;
2. on or before first anniversary of this Agreement, $23,125;
3. on or before second anniversary of this Agreement, $23,125; and

(c) (ii) in common shares of Lomiko (the "LMR Shares") totaling $328,375, at a price per LMR Share equal to the Market Price (as such term is defined in the TSX Venture Exchange Corporate Finance Manual) on the date of the signature of this Agreement according to the following schedule:

1. on the Closing Date, $50,875 payable in LMR Shares;
2. on or before first anniversary of this Agreement, $115,625 payable in LMR Shares; and
3. on or before second anniversary of this Agreement, $161,875 payable in LMR Shares.

Qualified Person for technical content at Yellow Fox

The technical information in this press release has been prepared and approved by Gordana Slepcev, P.Eng, who is registered in Ontario as a qualified person as defined by NI 43-101 guidelines. Gordana Slepcev is a CEO & President of Lomiko Metals. QP relied on the information provided by Metals Creek. Metals Creek QP is Wayne Reid, P.Geo. is registered in Newfoundland and working as the consultant for Metals Creek.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF).

Metals Creek also has multiple quality projects available for option which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.

Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.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.

Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
(709)-256-6060
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250440

FAQ

What are the terms of Lomiko Metals' option agreement for the Yellow Fox property?

Lomiko can acquire 100% interest by paying $64,750 in cash and $328,375 in shares over two years, with Metals Creek retaining a 2% NSR.

What were the highest-grade historic samples from the Yellow Fox property?

Historic grab samples showed up to 59.43g/t gold, 11.10% antimony, 7.00% zinc, 72.90g/t silver, and 5.50% lead.

What is the size of the expanded Yellow Fox property?

The property now consists of 58 claims covering 1,446 hectares after adding 30 new claims totaling 748 hectares.

What exploration work is planned for Yellow Fox in 2025?

Phase 1 includes collecting 700 soil samples across 10 lines at 250-meter spacing, with Phase 2 involving additional soil sampling and possible EM survey based on results.

How far is the Yellow Fox property from the Beaver Brook antimony mine?

The Yellow Fox property is located 25km northeast of the past-producing Beaver Brook antimony mine.