Fort St. James to Drill Multiple High-Priority VMS Targets Including Historic 13.6% Zn / 8.15% Pb Zone at Nepisiguit, Within Bathurst Mining Camp - Northern New Brunswick

Rhea-AI Summary

Fort St. James Nickel (OARFF) plans a diamond drilling program for 2026 at the Nepisiguit Property in the Bathurst Mining Camp, northern New Brunswick. The Company proposes approximately 1,000 metres of drilling to test multiple high‑priority VMS targets and has compiled historical data identifying four priority target areas.

The property borders the historic Heath Steele mine. FTJ completed prior work including six drill holes (total 1,131 metres), geochemistry and geophysics. Historical reports include a 13.57% Zn / 8.15% Pb intercept (0.20 m) that FTJ has not verified. FTJ has an extended letter of intent to acquire 100% of the property and expects to negotiate a definitive agreement.

Positive

• Planned 1,000 m diamond drilling program in 2026
• Property borders historic Heath Steele mining area
• Previous in‑house work includes 1,131 m of drilling (six holes) and geophysics

Negative

• Historic high‑grade assays (e.g., 13.57% Zn / 8.15% Pb over 0.20 m) are unverified by FTJ
• Acquisition is under a letter of intent; definitive agreement not yet finalized

Key Figures

Planned drilling 2026: 1000 meters Property size: 4,675 hectares 2021 drilling: 6 holes / 1,131 meters +5 more

8 metrics

Planned drilling 2026 1000 meters Diamond drilling program at Nepisiguit Property in 2026

Property size 4,675 hectares Nepisiguit Property mineral claim no. 8116

2021 drilling 6 holes / 1,131 meters Diamond drilling completed on Nepisiguit Property during 2021

Lead grade NP-21-05 2614 ppm (0.2614% Pb) 1.85 m interval with 32.0% iron in 2021 drill hole NP-21-05

Lead range NP-21-06 3010–3110 ppm (0.301–0.311% Pb) Four 1.00 m core samples from 2021 drill hole NP-21-06

Historic interval 13.57% Zn, 8.15% Pb over 0.20 m 1998 drill hole reported by Stratabound Minerals Corp.

Additional historic interval 2.08% Zn, 0.88% Pb over 2.00 m 1998 drilling reported by Stratabound Minerals Corp.

Near-surface interval 0.69% Zn, 0.52% Pb over 0.67 m Hole 98-19 historic near-surface anomalous lead and zinc

Market Reality Check

Price: $0.0228 Vol: Volume 290 vs 20-day aver...

high vol

$0.0228 Last Close

Volume Volume 290 vs 20-day average 70, about 4.13x typical activity ahead of the drilling update. high

Technical Shares at 0.0228 are trading below the 0.06 200-day moving average, reflecting a weak longer-term trend despite today’s gain.

Peers on Argus

FTJ gained 3.64% while most closely scored peers were flat; only ATOMIC MINERALS...

FTJ gained 3.64% while most closely scored peers were flat; only ATOMIC MINERALS (ATMMF) rose, up 8.33%, suggesting the move was more stock-specific than a broad sector shift.

Market Pulse Summary

This announcement detailed a planned 1000-meter diamond drilling program at the Nepisiguit Property,...

Analysis

This announcement detailed a planned 1000-meter diamond drilling program at the Nepisiguit Property, where historic intercepts reportedly reached 13.57% Zn and 8.15% Pb. The company summarized past work, including 1,131 meters drilled in 2021 and multiple geophysical targets. With the stock near its 52-week low and below the 0.06 200-day moving average, investors may watch how 2026 drilling results validate these targets.

Key Terms

volcanogenic massive sulfide, diamond drilling, semi-massive pyrite, electromagnetic, +2 more

6 terms

volcanogenic massive sulfide technical

"identified multiple target areas for exploration for volcanogenic massive sulfide deposits"

A volcanogenic massive sulfide (VMS) deposit is a concentrated underground or seabed accumulation of metal-bearing minerals formed by ancient volcanic activity. Think of it like a naturally occurring treasure chest where copper, zinc, lead and often gold or silver are packed closely together, which can make extraction more efficient and valuable. Investors care because VMS deposits can underpin mining projects with high metal content and predictable geology, affecting a company’s potential revenue, capital needs and exploration appeal.

diamond drilling technical

"planning a 1000-meter diamond drilling program during 2026 at the property"

Diamond drilling is a method that uses a rotating drill with industrial diamonds on the bit to cut and retrieve cylindrical rock samples (cores) that preserve the sequence of underground layers. For investors, these cores act like a geological “biopsy,” providing direct, verifiable information about mineral presence, grade and continuity—data that underpins resource estimates, project valuation, drilling risk and financing decisions.

semi-massive pyrite technical

"intervals of semi-massive pyrite were intersected in 2020-2021 drill holes"

Semi-massive pyrite describes rock in which a large portion — but not all — of the material is pyrite, the metallic iron-sulfide mineral often called “fool’s gold.” For investors, it matters because such concentrations can signal nearby deposits of valuable metals (gold, copper) or the presence of sulfide-hosted mineralization, while also implying possible extra costs for processing, lower recoveries, or environmental risks like acid drainage, similar to finding large clumps of an unhelpful ingredient in a batch that both hints at a recipe and creates cleanup work.

electromagnetic technical

"reported geophysical anomalies (electromagnetic and induced polarization) in this region"

Electromagnetic describes phenomena created by interacting electric and magnetic fields that travel as waves or spread through space—examples include radio waves, microwaves and visible light. For investors it matters because these waves power wireless communication, medical imaging and many electronic devices; they affect product performance, regulatory limits, safety standards and interference risks, so understanding electromagnetic factors helps assess technical feasibility, compliance costs and market potential.

ppm technical

"graded 2614 parts per million (ppm) lead (0.2614% Pb) and 32.0% iron"

Parts per million (ppm) is a unit that expresses how many units of a substance exist in one million units of a mixture or material — imagine one drop of dye spread through an Olympic-sized pool to picture a very small concentration. Investors watch ppm readings because regulatory limits, product contamination, pollutant emissions or chemical residues often use this scale; small numeric changes can mean compliance problems, remediation costs, production shutdowns or reputational risk that affect a company’s value.

ni 43-101 regulatory

"a Qualified Person as defined by NI 43-101 and Project Geologist"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - December 3, 2025) - Fort St. James Nickel Corp. (TSXV: FTJ) ("FTJ" or the "Company") is pleased to announce it is planning a diamond drilling program for 2026 at the Nepisiguit Property, located in the famous Bathurst Mining Camp in northern New Brunswick.

Nepisiguit Property Priority Exploration Targets

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"With historic intercepts exceeding 13% zinc and 8% lead, and several untested targets across the property, we believe Nepisiguit is poised for a major breakthrough. This upcoming drill program is a significant step toward unlocking that potential," - Barry Brown, President.

FTJ has compiled historical exploration information for the property and has identified multiple target areas for exploration for volcanogenic massive sulfide deposits including four priority targets areas. The Company is planning a 1000-meter diamond drilling program during 2026 at the property. The Nepisiguit Property borders the Heath Steele Property of Glencore Canada Corp, site of the historic Heath Steele Mine.

During 2021, the Company announced it had entered into a letter of intent agreement with a private company to acquire 100% interest in the Nepisiguit Base Metal - Precious Metal Property located within the Bathurst Mining Camp of northern New Brunswick. The property consists of one mineral claim (claim no. 8116), covering an area of approximately 4,675 hectares. The term of the original letter of intent has been extended. A definitive agreement is expected to be negotiated between FTJ and the private company regarding the Nepisiguit Property now that FTJ has completed a due diligence review of the property and identified exploration targets.

Nepisiguit Claim Map

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The Company has incurred exploration expenditures on the Nepisiguit Property, including diamond drilling (six holes totaling 1,131 meters) during 2021 and prospecting and rock geochemical sampling; soil geochemical sampling; magnetometer geophysical surveys; and drill core sampling during 2021-2025. Magnetite iron formation with anomalous levels for lead and intervals of semi-massive pyrite were intersected in 2020-2021 drill holes in the east-central region of the property establishing a target area for the Company. Drill core sample analysis of magnetite iron formation intervals from two 2021 drill holes in this area revealed anomalous levels of lead in some samples. A 1.85 - meters long (core length) interval in drill hole NP-21-05 graded 2614 parts per million (ppm) lead (0.2614% Pb) and 32.0% iron. Four core samples (each 1.00 meters long - core length) from drill hole NP-21-06 returned lead values in the 3010 - 3110 ppm range (0.301 - 0.311% Pb) and iron values in the 24.0 - 35.1% range. FTJ is planning additional diamond drilling in this area.

FTJ has identified a target area for diamond drilling in the southern region of the Nepisiguit Property. Stratabound Minerals Corp. reported lead, zinc and copper mineralization in this area during 1997 - 1998. A 1998 drill hole reported in this area was reported to intersect 13.57% zinc and 8.15% lead over 0.20 meters core length; and 2.08% zinc and 0.88% lead over 2.00 meters core length (Lutes, 1998). FTJ has not verified this mineralization. FTJ has located two drill collars in this target area, interpreted by the Company as Stratabound holes 98-15 and 98-19. Hole 98-19 was reported to intersect near-surface intervals of anomalous lead and zinc including 0.69% zinc and 0.52% lead over 0.67 meters core length (Lutes, 1998).

FTJ has identified target areas for diamond drilling in the east region of the Nepisiguit Property. Major General Resources Ltd. reported geophysical anomalies (electromagnetic and induced polarization) in this region during 1996 and 2000 (LeBel, 1996 and Gill, 2000). FTJ has not verified these geophysical anomalies.

The Company is in the process of outlining a diamond drilling program for 2026 of approximately 1000 meters, testing some or all of these target areas.

David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and Project Geologist for Fort St. James Nickel Corp., approved the technical information contained in this News Release.

ON BEHALF OF THE BOARD,

"Barry Brown"
President

Fort St James Nickel Corp. 604-488-3900
Admin@FTJMinerals.com

Forward-Looking Statements

This news release includes certain statements that constitute "forward-looking statements" within the meaning of applicable securities law, including without limitation, statements that address the Private Placement and the listing on TSXV Tier 2, and other matters. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. In particular, there is no guarantee that exploration work, as proposed, or otherwise, will be completed on the Company's properties.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly. There can be no assurance that planned exploration will be completed as proposed or at all, or that economic resources will be discovered or developed at the Company's properties. Accordingly, actual results may differ materially from those currently anticipated in such statements.

Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, equipment failures, the loss of key directors, employees, advisors or consultants and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276742

FAQ

What drilling does Fort St. James Nickel (OARFF) plan at Nepisiguit in 2026?

The company plans approximately 1,000 metres of diamond drilling in 2026 to test multiple VMS target areas.

Does the Nepisiguit Property border any notable mining sites for OARFF investors?

Yes. The Nepisiguit Property borders the historic Heath Steele property in the Bathurst Mining Camp.

Are the historic 13.57% Zn / 8.15% Pb intercepts on Nepisiguit verified by OARFF?

No. Those historic assays are reported in prior work but are explicitly not verified by the company.

What is the current ownership status of the Nepisiguit Property for OARFF?

FTJ holds a letter of intent to acquire 100% interest in the property; the term has been extended and a definitive agreement is expected.

What prior exploration has OARFF completed on Nepisiguit before the 2026 program?

The company completed work including six drill holes (1,131 m), prospecting, soil and rock geochemistry, magnetics and drill core sampling between 2020–2025.