Radisson Expands Ongoing Step-Out Drill Program at O'Brien to 140,000 Metres

Rhea-AI Summary

Radisson (OTCQB: RMRDF) will expand the O'Brien step-out exploration drill program to 140,000 metres using up to eight drill rigs, making it the largest drill program in the project's history. The expansion follows a $25 million financing completed in October 2025 and aims to build on recent high-grade deep intercepts, including multiple wedges from a pilot hole showing high-grade veins.

The company cites an Exploration Target of 3–4 million ounces in 15–20 million tonnes at 4.5–8.0 g/t Au and notes the current MRE of 0.58 Moz Indicated and 0.93 Moz Inferred (effective May 6, 2025).

Positive

• Drill program expanded to 140,000 metres
• $25 million financing completed (October 2025)
• Up to 8 drill rigs mobilized to accelerate deep testing
• Exploration Target of 3–4 Moz gold in 15–20 Mt at 4.5–8.0 g/t Au
• Current MRE: 0.58 Moz Indicated and 0.93 Moz Inferred

Negative

• Existing MRE is primarily located above 600 metres, limiting the PEA snapshot
• Mineral resources reported are not mineral reserves and lack demonstrated economic viability

Rouyn-Noranda, Quebec--(Newsfile Corp. - October 16, 2025) - Radisson Mining Resources Inc. (TSXV: RDS) (OTCQB: RMRDF) (FSE: 2RX) ("Radisson" or the "Company") is pleased to announce that it will expand the ongoing step-out exploration drill program at the O'Brien Gold Project ("O'Brien" or the "Project") to 140,000 metres utilizing up to eight drill rigs. The expanded program aims to build upon recent successes in delineating new high-grade gold mineralization outside the scope of the Project's current Mineral Resource Estimate ("MRE"). This will be the largest drill program in the history of the Project.

Matt Manson, President & CEO, commented: "Following the recent completion of our very successful $25 million financing (see Radisson news release dated October 7, 2025), we are announcing a major increase in scope and ambition to our exploration drill program at O'Brien. Since late last year we have been demonstrating significant new gold mineralization in "proof-of-concept" drilling beneath the current mineral resources and below the historic mine workings (Figure 1). Our Exploration Target at O'Brien is between 3 and 4 million ounces of gold in 15 to 20 million tonnes at between 4.5 and 8.0 grams per tonne ("g/t") gold ("Au")¹. This is based on the proposition that O'Brien's mesothermal gold mineralization continues to an exploration horizon of at least 2 kilometres depth. With recent results supporting this thesis, we now intend to accelerate our efforts with a view to meaningful resource growth at the Project. The new expanded program of 140,000 metres will continue through 2026 with up to 8 drill rigs, generating significant new data, updates to the Project's MRE, and regular news flow."

Matt Manson continued: "The recently completed O'Brien Preliminary Economic Assessment ("PEA") describes a high value project based on the use of neighbouring milling facilities for the processing of mined material, reducing capital costs, development risk, and project footprint (see Radisson news release dated July 9, 2025). It also represents a moment-in-time "snap-shot" for the Project utilizing the pre-existing MRE, which is located primarily at depths above 600 metres and based on drilling completed to the end of 2022. Our objective by the end of this new and aggressive drill program will be to demonstrate full potential scope of the Project."

Step-Out Drilling at O'Brien

Since late 2024, Radisson has been pursuing a program of broad step-outs beneath the historic O'Brien Gold mine and the existing mineral resources designed to test the full scope of mineralization at the Project to a 2-kilometre deep exploration floor. This drilling is accomplished with pilot holes followed by wedges and directional drilling to maximize drill efficiency. The first pilot hole drilled beneath the historic mine workings of the O'Brien mine intersected 31.24 g/t Au over 8.0 metres, including 242.0 g/t Au over 1.0 metre at approximately 1,500 metres vertical depth, 500 metres below the final mining stope.

Figure 1: Long Section of Gold Vein Mineralization and Mineral Resources at the O'Brien Gold Project, with Deep Step-Out Drill Holes Completed and/or Published to Date. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10977/270643_d9c3a9f0f4fee970_002full.jpg

Assay results from 7 wedges from this pilot holes have now been reported (see Radisson news release dated July 16, 2025) and up to six high-grade, gold-bearing veins have been delineated over an area of approximately 250 metres (east-west) by 250 metres (vertical). Assay results from additional wedges are expected shortly. Step-out drilling with wedge extensions has also confirmed high-grade mineralization 170 metres below the base of the existing mineral resources at Trend #1 and up to 300 metres below previous drill intercepts at Trend #2 (see Radisson news release dated September 8, 2025).

By the end of 2025, Radisson expects to have completed approximately 35,000 metres of a 50-60,000 metre drill program originally announced in May 2025 (see Radisson news release dated May 21, 2025). With the new drilling announced today, the total meters drilled in this ongoing step-out program will increase to 140,000 metres. This will incorporate an expansion of site facilities and personnel to support up to 8 drill rigs from the current four. These rigs have already been secured under the terms of engagement with our existing drill contractor. The first additional drill rig has been mobilized to site, with drilling expected to start prior to the end of this month.

Targeting priorities will be developed dynamically based on results, but will include: (a) multiple pilot-holes and wedge clusters beneath the historic mine to 2 kilometres depth, (b) pilot holes and wedges testing the deep extensions of Trends #0, #1 and #2, (c) testing for mineralization between Trends #1 and #2, and (d) testing the extension of gold mineralization beneath the historic Thompson-Cadillac mine located west of the O'Brien Mine.

Updated Mineral Resource Estimates

The MRE utilized in the recent O'Brien PEA comprises Indicated Mineral Resources of 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au) and Inferred Mineral Resources of 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. This MRE, effective as of May 6, 2025, is based on 325,509 metres of drilling completed to the end of 2022. By the end of the currently scheduled drill program a significant amount of new drilling will have been completed, the larger part being outside the scope of the current MRE and recent PEA mine design. This is expected to merit multiple updates to the O'Brien MRE as the drilling progresses.

Gold Mineralization at O'Brien

Gold mineralizing quartz-sulphide veins at O'Brien occur within a thin band of interlayered mafic volcanic rocks, conglomerates, and porphyritic andesitic sills of the Piché Group occurring in contact with the east-west oriented Larder Lake-Cadillac Break ("LLCB"). Gold, along with pyrite and arsenopyrite, is typically associated with shearing and a pervasive biotite alteration, and developed within multiple Piché Group lithologies and, occasionally, the hanging-wall Pontiac and footwall Cadillac meta-sedimentary rocks.

As mapped at the historic O'Brien mine, and now replicated in the modern drilling, individual veins are generally narrow, ranging from several centimetres up to the metre-scale in thickness. Multiple veins occur sub-parallel to each other, as well as sub-parallel to the Piché lithologies and the LLCB. Individual veins have well-established lateral continuity, with near-vertical, high-grade shoots developed over significant lengths. Based on the historic data available, it is clear that the former mine was "high-graded", with mining focussed on a main central stope and parallel veins identified but left undeveloped.

The historic O'Brien mine produced over half a million ounces of gold from such veins and shoots at an average grade exceeding 15 g/t Au and over a vertical extent of at least 1,000 metres. Modern exploration has focussed on delineating well developed vein mineralization to the east of the historic mine, with additional high-grade shoots becoming evident in the exploration data over what has been described as a series of repeating trends ("Trend #s 0 to 5").

Qualified Persons 

Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Luke Evans, M.Sc., P.Eng., ing, of SLR Consulting (Canada) Ltd., is the Qualified Person responsible for the preparation of the MRE at O'Brien. Each of Mr. Nieminen and Mr. Evans is independent of Radisson and the O'Brien Gold Project.

About Radisson Mining

Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 Preliminary Economic Assessment described a low cost and high value project with an 11-year mine life and significant upside potential based on the use of existing regional infrastructure. Indicated Mineral Resources are estimated at 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au), with additional Inferred Mineral Resources estimated at 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Please see the NI 43-101 "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada" effective June 27, 2025, and other filings made with Canadian securities regulatory authorities available at www.sedarplus.ca for further details and assumptions relating to the O'Brien Gold Project.

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com

Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to the ability to execute the Company's plans relating to the O'Brien Gold Project as set out in the Preliminary Economic Assessment; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the O'Brien Gold Project; the absence of unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price of gold remaining at levels that render the O'Brien Gold Project profitable; the Company's ability to continue raising necessary capital to finance its operations; the ability to realize on the mineral resource and mineral reserve estimates; assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future;, planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, and the ability to incorporate new drilling in an updated technical report and resource modelling; the Company's ability to grow the O'Brien Gold Project; the ability to negotiate and execute an arrangement with IAMGOLD related to the Doyon Mill on satisfactory terms or at all; and the ability to convert inferred mineral resources to indicated mineral resources.

Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others; the risk that the O'Brien Gold Project will never reach the production stage (including due to a lack of financing); the Company's capital requirements and access to funding; changes in legislation, regulations and accounting standards to which the Company is subject, including environmental, health and safety standards, and the impact of such legislation, regulations and standards on the Company's activities; price volatility and availability of commodities; instability in the global financial system; the effects of high inflation, such as higher commodity prices; the risk of any future litigation against the Company; changes in project parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks relating to the drill results at O'Brien; the significance of drill results; and the ability of drill results to accurately predict mineralization. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 29, 2025 for the year ended December 31, 2024, and the Company's Management's Discussion and Analysis dated August 27, 2025 for the three-month period ended June 30, 2025, all of which are available electronically on SEDAR+ at www.sedarplus.ca. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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¹ NI 43-101 "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada" effective June 27, 2025. The reader is cautioned that the potential quantity and grade of an Exploration Target is conceptual in nature, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270643

FAQ

What does Radisson's 140,000-metre drill program for O'Brien (RMRDF) mean for shareholders?

The program increases exploration scale and data generation with up to 8 rigs, aiming to expand resources and support future MRE updates.

When did Radisson complete the financing that supports the O'Brien expansion (RMRDF)?

Radisson completed a $25 million financing in October 2025 to fund the expanded drill program.

How much gold is Radisson targeting at O'Brien (RMRDF) with the expanded program?

Radisson cites an Exploration Target of 3–4 million ounces in 15–20 million tonnes at 4.5–8.0 g/t Au.

What are the current mineral resources at O'Brien reported in May 2025 (RMRDF)?

The MRE is 0.58 Moz Indicated (2.20 Mt at 8.2 g/t) and 0.93 Moz Inferred (6.67 Mt at 4.4 g/t), effective May 6, 2025.

Will the O'Brien PEA change after the new drilling (RMRDF)?

Radisson expects multiple MRE updates as new drilling outside the current MRE is completed, which could inform future PEA revisions.

How deep will Radisson test mineralization at O'Brien (RMRDF)?

The step-out program targets mineralization to a 2-kilometre exploration horizon, including pilot holes and wedges beneath the historic mine.