Firetail Resources Commences Drilling at Skyline Copper Project Under Option Agreement with York Harbour Metals

Rhea-AI Summary

York Harbour Metals Inc. (TSXV: YORK) announces that Firetail Resources (ASX: FTL) has begun exploration activities at the Skyline Copper Project in Newfoundland, Canada, under their option agreement. York Harbour has received the first cash payment of CAD $200,000 and 100 million Firetail shares. Firetail has mobilized crews and a diamond drill rig to the site, planning a 5,000-metre maiden drilling program to extend high-grade copper mineralization and conduct a comprehensive geophysical survey along the project's 16 km strike length.

The exploration program includes drilling and electromagnetic (EM) surveys to confirm and expand upon historical copper results. This development aligns with York Harbour's strategy to create shareholder value by advancing high-grade projects in Newfoundland.

Positive

• York Harbour received CAD $200,000 and 100 million Firetail shares as part of the option agreement
• Firetail Resources has commenced a 5,000-metre maiden drilling program at the Skyline Copper Project
• Comprehensive geophysical survey planned to identify new targets along 16 km strike length

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - YORK HARBOUR METALS INC. (TSXV: YORK) (the "Company" or "York Harbour") is pleased to announce that Firetail Resources Limited (ASX: FTL) ("Firetail") has commenced exploration activities at the Skyline Copper Project (formerly the York Harbour Project) in Newfoundland, Canada, under the terms of our option agreement.

As part of the agreement, York Harbour has received the first cash payment of CAD $200,000 and 100 million Firetail shares. This milestone marks the beginning of Firetail's commitment to advance the project, positioning York Harbour to benefit from its exploration and development efforts.

Firetail Resources has mobilized crews and a diamond drill rig to the project site. Their immediate plans include a 5,000-metre maiden drilling program aimed at extending high-grade copper mineralization, along with a comprehensive geophysical survey to identify new targets along the project's extensive 16 km strike length.

Blair Naughty, President & CEO of York Harbour Metals, commented, "We are pleased to see Firetail Resources initiate their exploration program at the Skyline Copper Project. Their technical expertise and aggressive approach are expected to unlock the project's full potential. This development aligns with our strategy to create value for our shareholders by advancing high-grade projects within Newfoundland."

Firetail's exploration program, which includes both drilling and electromagnetic ("EM") surveys, aims to confirm and expand upon the significant historical copper results of the project. The commencement of these activities signifies a positive step forward for both companies and their stakeholders.

About York Harbour Metals

York Harbour Metals Inc. (TSXV: YORK) (OTCQB: YORKF) (FSE: 5DE0) is a mineral exploration and development company focused on high-grade projects in Newfoundland. The Company has recently closed an Option Agreement with Firetail Resources on the York Harbour Copper-Zinc-Silver Project, located approximately 27 km from Corner Brook, Newfoundland. Additionally, York Harbour holds a 100%-interest in the Bottom Brook Rare Earth Elements Project, covering 15,150 hectares, situated next to the Trans-Canada Highway and only 27 km from a deep-water port at Turf Point, Newfoundland.

For further details, please contact:
Email: info@yorkharbourmetals.com
Phone: +1-604-346-7613
Website: www.yorkharbourmetals.com

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About Firetail Resources

Firetail Resources (ASX: FTL) is a battery minerals company with a project portfolio focused on multiple battery mineral commodities. Firetail has commenced drilling in Peru, where its tenure includes the Picha Copper-Silver Project and Charaque Copper Project. Picha hosts multiple drill-ready targets, while Charaque has a farm-in deal with Barrick Gold Corporation. Additionally, Firetail has projects in Western Australia and Queensland, including the advanced Mt Slopeaway Project.

For more information on Firetail Resources, please visit the website: www.firetailresources.com

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On Behalf of the Board of Directors,

"Blair Naughty"
CEO and President

Email: info@yorkharbourmetals.com
Phone: 778-302-2257
Website: https://yorkharbourmetals.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.

Forward-Looking Statements:

This news release contains forward-looking statements relating to future events or future performance and reflects the Company's current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements regarding Firetail Resources Limited's exploration plans and activities at the Skyline Copper Project, the anticipated extension of high-grade copper mineralization, the identification of new exploration targets through geophysical surveys, and the potential benefits to York Harbour Metals Inc. and its shareholders from Firetail's exploration and development efforts.

These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in market conditions, the results of exploration activities, regulatory approvals, operational risks associated with mining and mineral exploration, and other risks detailed from time to time in the Company's continuous disclosure documents filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Except as required by applicable law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226651

FAQ

What is the current status of the Skyline Copper Project for York Harbour Metals (YORKF)?

Firetail Resources has commenced exploration activities at the Skyline Copper Project under an option agreement with York Harbour Metals. They have mobilized crews and a diamond drill rig to begin a 5,000-metre maiden drilling program and conduct geophysical surveys.

How much did York Harbour Metals (YORKF) receive from Firetail Resources as part of their agreement?

York Harbour Metals received the first cash payment of CAD $200,000 and 100 million Firetail shares as part of their option agreement with Firetail Resources.

What are Firetail Resources' plans for the Skyline Copper Project optioned from York Harbour Metals (YORKF)?

Firetail Resources plans to conduct a 5,000-metre maiden drilling program to extend high-grade copper mineralization and perform a comprehensive geophysical survey to identify new targets along the project's 16 km strike length.

How does the Firetail Resources agreement align with York Harbour Metals' (YORKF) strategy?

The agreement aligns with York Harbour Metals' strategy to create value for shareholders by advancing high-grade projects within Newfoundland. Firetail's technical expertise and aggressive approach are expected to unlock the Skyline Copper Project's full potential.