March 20, 2025 – Montreal, Quebec. Mosaic Minerals Corporation (“Mosaic” or “The Company”) announced today its decision to divest itself of all its lithium projects acquired through staking in recent years to refocus on the development of its Gaboury project, a nickel showing located in Témiscamingue, Quebec.
Gaboury Project: Promising Nickel Potential
- 95 claims – 5,453 hectares
- A magnetic anomaly of over 8 km
- Nickel confirmed over widths ranging from 27 m to 206 m
- Grades up to 0.48% Ni
- Zones open at depth and laterally
This project, 100% owned by Mosaic, covers a vast area crossed by a large-scale magnetic anomaly, already tested by around twenty drill holes drilled since the 2010s. This work has revealed a consistent presence of nickel, confirmed up to 275 m deep and extending over 1,200 m to the west and 1,700 m in its central and eastern part. The significant presence of gold and zinc is also noted in several drill holes intersecting this magnetic anomaly. Anomalous values for cobalt, magnesium and lead are also found.
“After a thorough analysis of our project portfolio, we have decided to focus our resources and efforts on the Gaboury project. Nickel is a critical metal in demand and Quebec is a mining jurisdiction ideally positioned to play a key role in this market. With very promising drilling results and rapidly growing global demand, we firmly believe that this project represents a major opportunity for our company and our shareholders,” said Jonathan Hamel, President and CEO of Mosaic.
Strategic Metal Distribution
Pike West: Good concentration of nickel (Ni), cobalt (Co), and zinc (Zn)
Pike Central and East: Confirmed presence of gold, zinc, and nickel
Mosaic intends to resume drilling in the Pike West zone, where the highest nickel and cobalt grades have been recorded. A new 3,000-meter program is planned to explore the potential at depth and establish a potential geological resource to maximize the value of the deposit.
Amanda Project
Regarding the Amanda project, located in northern Quebec, the company’s management will attempt to find a partner for its development. Various prospecting and sampling surveys conducted over the past few years have confirmed its gold-bearing character. Numerous showings have been discovered in the eastern and northern part of the project, adding to the main gold showings located in the southern part of the Amanda project.
The scientific and technical information of Mosaic Minerals Corporation included in this press release has been reviewed and approved by Gilles Laverdière, P.Geo, Vice-President Exploration of Mosaic Minerals and qualified person under National Instrument 43-101 respecting information concerning mining projects (“Regulation 43-101”).
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mining exploration company listed on the Canadian Securities Exchange (CSE: MOC) focusing on the exploration of Nickel and Gold in the province of Quebec.
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
