T2 Metals Completes First Field Program at the Shanghai Gold-Silver Project, Yukon

Rhea-AI Summary

T2 Metals (OTCQB: TWOSF) completed its first reconnaissance field program at the Shanghai gold-silver Project in the Tombstone Gold Belt, Yukon on October 30, 2025. The helicopter-supported crew collected 52 rock and 3 soil samples, delivering them to Bureau Veritas in Whitehorse for analysis.

Field mapping confirmed two distinct target styles: Keno Hill-style polymetallic quartz veins in the southern zone and Reduced Intrusion-Related Gold System (RIRGS) indicators in the northern zone, including a located auger soil with 6.141 g/t Au. The project holds a Class 3 permit allowing drilling, road work and camp installation, and a Phase 1 drill campaign is being planned for 2026.

Positive

• Class 3 permit enables drilling, roads and camp with no extra approval
• Field crew collected 52 rock and 3 soil samples
• Geology confirmed two distinct target styles: Keno Hill and RIRGS
• Located prior 6.141 g/t Au auger soil sample on site
• Historical trench samples include 1.1 oz/tonne Au and 790.5 oz/tonne Ag

Negative

• No assay results released yet; assays pending from Bureau Veritas
• Project not yet drilled; drill targets remain untested in 2025

Geological Mapping Identifies Two Distinct High-Priority Target Styles

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2025) - T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) (WKN: A3DVMD) ("T2 Metals" or the "Company") is pleased to announce the completion of the Company's first reconnaissance exploration program at the Shanghai gold - silver Project (the "Project") in the prolific Tombstone Gold Belt of the Yukon Territory, Canada (Figure 1). T2 Metals is earning a 100% interest in the 27.4 sq km project from renowned explorer Shawn Ryan (see press release dated September 10 2025).

The helicopter-supported field program was executed by a four-person crew from Groundtruth Exploration Inc., utilizing the nearby Banyan Gold Corp camp as an operational base. The campaign successfully completed the primary objective of ground checking gold and silver auger soil geochemical anomalies with the goal of defining drilling targets for 2026.

The Shanghai Project has been issued a Class 3 permit that enables drilling, road construction and installation of a camp with no additional permission required. The historical Shanghai Silver Mine had road access from the Eagle Mine Road at the time of production. Despite its proximity to gold ("Au") and silver ("Ag") deposits and mines, the Shanghai project has never been drilled.

Program Summary & Highlights:

• Targeted Sampling: team successfully collected a total of 52 rock and 3 soil samples from two main prospective zones, focusing on areas with significant gold and silver anomalies in soils and high-grade trench samples.

• Target Zone 1 (Ag-Au-Polymetallic): prospecting in the southern sector confirmed the presence of Keno Hill-style, polymetallic quartz-vein mineralization within weathered metasediments (interpreted as Keno Hill Quartzite). Mapping revealed sulphides and sulfosalts - key indicators of polymetallic vein systems in the Keno Hill area 12 km east of Shanghai.
  
  Prior sampling from historical trenches in this area included the exceptional results of 1.1 oz/tonne Au and 790.5 oz/tonne Ag (see Yukon Minfile #ARMC005629 and Doherty, R. A. 2022)*¹

• Target Zone 2 (Reduced Intrusion-Related Gold Systems or "RIRGS"): prospecting in the northern sector located a deformed rock sequence consisting of layered mica schist/phyllite of the Upper Proterozoic Yusezyu Formation with iron-oxide alteration. This is strongly indicative of a disseminated mineralization of a RIRGS type, often associated with nearby Cretaceous intrusions.
  
  Site visits included the location of a 6.1 g/t Au soil sample previously taken by project partner Shawn Ryan.

• Logistics: The program was executed efficiently by a geological team, with logistical access from the Banyan Gold Corp camp only 6 km from site. All rock and soil samples have been delivered to Bureau Veritas Minerals laboratory in Whitehorse, Yukon for analysis.

Mark Saxon, CEO of T2 Metals Corp commented, "This high-impact program was executed by the experienced team from Groundtruth Exploration and provided rapid validation of auger soil anomalies identified by Shawn Ryan. We have now geologically confirmed two distinct styles of mineralization on the Shanghai property: Keno Hill-style silver veins and the large-scale Reduced Intrusion-Related Gold style, similar to those being explored and developed by peers in the Tombstone Gold Belt. We keenly await this program's assay results to finalize and prioritize drill locations for the Phase 1 drill campaign planned for 2026."

Figure 1: Regional Location of the Shanghai Project, Yukon Territory, Canada.
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_002full.jpg

Assessment of two distinct mineralization targets

The Zone 1 (Figure 2) sampling targeted the Keno Hill Quartzite that lies immediately beneath the Robert Service Thrust Fault, in a geological setting that matches that of the nearby Keno Hill mines (Figure 3). Mapping located quartz veins and stockworks within weathered metasediments (shale/schist) (Figure 4A & B). The coarse-grained, layered quartz veins with sulphosalts (common silver carriers in the district) are direct analogs to Keno Hill-style mineralization. Numerous samples were collected.

The Zone 2 (Figure 2) sampling focused on locations within the Upper Proterozoic Hyland Group Yusezyu Formation comprised of phyllite and rare calc silicate rocks that sits above the Roberts Service Thrust Fault in a setting analogous to Banyan Gold Corp's AurMac deposit (Figure 5). Exploration in this area focused on broad areas where prior soil samples by partner Shawn Ryan discovered anomalous gold, antimony, and arsenic anomalies.

The field team noted significant structural deformation in outcrop likely due to the close proximity to the Robert Service Thrust Fault. Furthermore, quartz veining combined with iron-oxide alteration was commonly observed (Figure 5), suggesting fluid flow related to nearby Cretaceous intrusions and the potential for a disseminated, intrusion-related gold system. The site of a prior 6.141 g/t Au auger soil sample was located and sampled.

Access alternatives for 2026 drill programs were assessed.

Figure 2: Target Areas for follow up in field program based on soil geochemistry. Au-As-Sb association highlights "Tombstone Intrusion" style gold mineralization above thrust fault. Zone 1 - southern; Zone 2 - northern.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_003full.jpg
  

Figure 3: Geological Map for Shanghai Project, Yukon Territory, Canada
See Table 1 for additional information on resource-stage projects and supporting NI43-101 report references.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_004full.jpg
  

A 

Figure 4A: Rock samples from historical trenches along strike from the Shanghai Silver Mine (Keno Hill-style mineralization). Sample 2020751 shows schist - shale type host with quartz veins, sulphosalts, stockwork veining, oxidized sulphide, and grey sulphide.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_005full.jpg
  

B 

Figure 4B: Rock samples from historical trenches along strike from the Shanghai Silver Mine (Keno Hill-style mineralization). Sample 2020752 shows milky white quartz veins within dark grey schist/shale host. Veins have rusty spots and vugs of ex-sulphide.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_006full.jpg
  

Figure 5: Hydrothermal quartz vein with iron oxide staining collected from weathered bedrock adjacent to previously collected soil sample with a gold concentration of 6.141 g/t Au..

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7326/272500_f8d72f6f44dc4a05_007full.jpg

About the Historical Shanghai Silver Mine

Shanghai sits within the northwest portion of the Yukon's Tombstone Gold Belt, one of North America's most active and gold-endowed mining districts, and home to the famous Klondike goldfield. Recent exploration of the Tombstone Gold Belt by Snowline Gold Corp (Valley project), Sitka Gold Corp (RC Gold project), Banyan Gold Corp (AurMac project) and Sanatana Resources Inc have highlighted the potential for major new gold discoveries and value creation.

The Shanghai Silver Mine is hosted by the Keno Hill Quartzite immediately below the regionally extensive Robert Service Thrust fault. It lies on the northern limb of the McQuesten Antiform, presenting a mirror image of the Keno Hill camp found on the southern limb of this antiform.

During the 1960's the Shanghai Silver Mine was explored by Silver Titan Mines Ltd with close to 800 m of underground development. Assays reported from underground workings that followed veins included 9.1 m @ 1182.8 g/t Ag, 8.2% Pb and 7.2% Zn (average width of 1.5 m) (Yukon Minfile 105M 028).

About the Tombstone Gold Belt

The Tombstone Gold Belt, a component of the larger Tintina Gold Province, is a highly prospective metallogenic province in the Yukon, with a range of well-known and emerging gold discoveries. The belt is characterized by a suite of mid-Cretaceous, reduced, felsic intrusions known as the Tombstone Plutonic Suite. These intrusive bodies and the surrounding host rocks have created conditions for the formation of numerous Reduced Intrusion-Related Gold Systems (RIRGS). Exploration efforts have identified multiple mineralized corridors with gold hosted in sheeted quartz veins and disseminated mineralization within both the intrusive bodies and the hornfelsed country rocks.

Gold mineralization in the Tombstone Gold Belt is typically associated with a distinctive multi-element signature that includes bismuth, tellurium, and tungsten, along with arsenic and antimony. Gold-bearing fluids exsolved from cooling intrusions and preferentially deposited gold in brittle, structurally controlled environments. Both high-grade, structurally-controlled vein systems and lower-grade, bulk-tonnage deposits are known. The region hosts numerous significant deposits and is the site of recent discoveries by companies such as Snowline Gold Corp., Banyan Gold Corp. and Sitka Gold Corp.

Project	EFFECTIVE DATE	Author	Report For	Tonnes (M)	Au (g/t)	Contained Gold	Status
Brewery Creek	18/01/2022	Cook. C. et al., 2022.	Sabre Gold Mines Corp	34.5	1.03	1.142 M oz	Measured & Indicated
				36.0	0.88	1.018 M oz	Inferred
Report Title: Preliminary Economic Assessment. NI 43-101 Technical Report on the Brewery Creek Project Yukon Territory, Canada
Eagle (Dublin Gulch)	31/12/2022	Harvey, N., 2022	Victoria Gold Corp	233.2	0.57	4.303 M oz	Measured & Indicated
				36.2	0.62	0.724 M oz	Inferred
Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada
Olive (Dublin Gulch)	31/12/2022	Harvey, N., 2022	Victoria Gold Corp	11.6	0.97	0.361 M oz	Measured & Indicated
				5.5	1.17	206,479	Inferred
Report Title: Technical Report. Eagle Gold Mine. Yukon Territory, Canada
Raven (Dublin Gulch)	15/09/2022	Jutras, M., 2022.	Victoria Gold Corp	19.9	1.67	1.071 M oz	Inferred
Report Title: Technical Report On The Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada
Blackjack (RC Gold)	21/01/2025	Simpson. R., 2025	Sitka Gold Corp	39.9	1.01	1.298 M oz	Indicated
				34.6	0.94	1.045 M oz	Inferred
Report Title: Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory
Eiger (RC Gold)	19/01/2023	Simpson. R., 2025	Sitka Gold Corp	27.4	0.5	0.440 M oz	Inferred
Report Title: Clear Creek Property, RC Gold Project. NI 43-101 Technical Report. Dawson Mining District, Yukon Territory
Airstrip (AurMac)	28/06/2025	Jutras, M., 2025	Banyan Gold Corp	27.7	0.69	0.614 M oz	Indicated
				10.1	0.75	0.244 M oz	Inferred
Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada
Powerline (AurMac)	28/06/2025	Jutras, M., 2025	Banyan Gold Corp	84.8	0.61	1.663 M oz	Indicated
				270.4	0.60	5.216 M oz	Inferred
Report Title: Technical Report, Aurmac Property, Yukon Territory, Canada
Florin	6/04/2025	Simpson. R., 2021	St. James Gold Corp.	170.9	0.45	2.474 M oz	Inferred
Report Title: Florin Gold Project. NI 43-101 Technical Report. Mayo and Dawson Mining Districts, Yukon Territory
Valley (Rouge)	15/05/2025	Burrell. H. et al., 2024	Snowline Gold Corp	75.8	1.66	4,047 M oz	Indicated
				81.0	1.25	3.256 M oz	Inferred
Report Title: Rogue Project. NI 43-101 Technical Report and Mineral Resource Estimate. Yukon Territory, Canada

 

Table 1: Gold Deposits in the Tombstone Gold Belt with NI43-101 References

Disclaimers

The qualified person (as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects) for the Company's projects, Mr. Mark Saxon, the Company's Chief Executive Officer, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this release.

Readers are cautioned that the discussion about adjacent or similar properties in this press release is not necessarily indicative of the mineralization or potential of the Shanghai property. The Company has no interest in or right to acquire any interest in any such adjacent properties.

^*1 The reader is cautioned that the historical sampling results, while sourced from independent reports accessed from the Government of Yukon website should not relied upon and are included for context. The Company will need to conduct further exploration, and there is no guarantee that the results obtained will reflect the historical results.

Reference

Doherty, R. A., 2022. NI43-101 Technical Report titled "Shanghai Project Technical Report, Mayo Mining District, Yukon" dated July 15, 2022 on behalf of Targa Exploration Corp. on www.sedarplus.ca.

About T2 Metals Corp (TSXV: TWO) (OTC Pink: TWOSF) (WKN: A3DVMD)

T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Shanghai Project in the Yukon, and the Cora Project in Arizona.

ON BEHALF OF THE BOARD,

"Mark Saxon" Mark Saxon President & CEO

For further information, please contact: t2metals.com 1 (604) 685-93161305 - 1090 West Georgia St.,  Vancouver, BC, V6E 3V7 info@t2metals.com

 

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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking information in this press release include statements regarding the potential exercise of the Option and obtaining regulatory approval for the Option, and future exploration plans for the Company on the Shanghai project. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. Such risks include uncertainties relating to exploration activities; risks in obtaining regulatory approval; the impact of exploration competition; unexpected geological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market risks. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272500

FAQ

What did T2 Metals announce about the Shanghai Project on October 30, 2025?

T2 Metals completed a reconnaissance field program, collected 52 rock and 3 soil samples, and confirmed two target styles while planning a 2026 drill campaign.

Does the Shanghai Project (TWOSF) have permits for drilling and camp construction?

Yes; the Shanghai Project has a Class 3 permit that allows drilling, road construction and camp installation without further approvals.

What mineralization types did T2 Metals identify at Shanghai (TWOSF)?

Field mapping confirmed Keno Hill-style polymetallic silver-quartz veins in the south and RIRGS-type intrusion-related gold indicators in the north.

Were any high-grade samples reported at Shanghai (TWOSF) during the program?

The team located a prior auger soil sample with 6.141 g/t Au and noted historical trench results of 1.1 oz/tonne Au and 790.5 oz/tonne Ag.

Where will T2 Metals run assays from the Shanghai field program?

All samples were delivered to Bureau Veritas Minerals laboratory in Whitehorse, Yukon for analysis.