Mosaic Announces Updated Channel Sampling Results at Golden Island, Including an Average Grade of 280.26 g/t Au over 0.5 m, and Provides a Drilling Progress Update

Mosaic reports high-grade gold channel samples and ongoing drilling at Golden Island, Quebec.

What the company is saying

Mosaic Minerals Corporation is highlighting strong channel sampling results from its Golden Island gold project in Abitibi, Quebec, with multiple high-grade gold intervals, including 280.26 g/t Au over 0.5 m and 82.07 g/t Au over 0.5 m. The company emphasizes the presence of coarse gold, as confirmed by metallic sieve assays, and notes that 50 samples exceeded 1 g/t Au in 35 channels, with 15 samples above 10 g/t Au. Jonathan Hamel, President and CEO, frames the results as 'very encouraging' and stresses the rapid pace of the ongoing drilling campaign, which has surpassed 600 metres in two holes out of a planned minimum 2,000 metres. Mosaic underscores its rigorous QA/QC protocols, including regular insertion of reference materials and blanks, and reports that all standards and blanks performed within expected ranges. The technical information is reviewed and approved by Suzie Tremblay, Vice-President of Explo-Logik and a qualified person under NI 43-101. The company signals confidence in maintaining a steady work program into 2027, supported by its project budget.

What the data suggests

The disclosed data show that Mosaic collected 343 samples from 98 channels, mostly 0.5 m in length, with fire assay, gravimetric, and metallic sieve analyses. Standout results include sample C0380541 (channel 84) averaging 280.26 g/t Au over 0.5 m, sample C0381259 (channel 6) averaging 82.07 g/t Au over 0.5 m with 42.5 g/t Ag and 0.42% Cu, and sample C0381370 (channel 37) averaging 58.05 g/t Au over 0.5 m. Channel 61 returned four consecutive samples over 2.0 m with grades of 26.21, 61.97, 63.32, and 1.17 g/t Au. Metallic sieve assays confirmed the presence of coarse gold, with some samples increasing significantly in grade, such as C0381444 (6.20 to 34.83 g/t Au), C0381450 (8.81 to 63.32 g/t Au), and C0381466 (1.37 to 26.13 g/t Au). Quality control measures were robust, with 8 certified reference materials and 9 blanks inserted, standards returning 4.01 to 4.25 g/t Au (average 4.13 g/t), and all blanks below 5 ppb Au. Duplicates and metallic sieve fine fractions agreed within 10% in most cases. The drilling campaign is underway, with over 600 metres completed in two holes, but no drill assay results have yet been released. The technical data support the company's claims of high-grade mineralization and effective QA/QC, but the economic significance remains unquantified at this stage.

Analysis

The announcement is a detailed technical update from an exploration-stage company, providing specific assay results, sample counts, and QA/QC procedures for the Golden Island project. The majority of claims are realised and supported by disclosed data, such as sample grades and drilling progress. Forward-looking statements are minimal and limited to the release of future assay results and a general reference to maintaining a steady work program, with no exaggerated projections or unsupported claims about resource size or economic potential. There is no evidence of narrative inflation: the language is proportionate to the technical results, and the CEO's positive tone is justified by the high-grade assays. No large capital outlay or long-dated, uncertain returns are discussed. The gap between narrative and evidence is minimal, with the company's statements closely tracking the disclosed facts.

Risk flags

• ●The project remains at an early exploration stage, with no resource estimate or economic assessment disclosed; high-grade samples, while promising, do not guarantee continuity or mineable widths, and economic viability is unproven.
• ●Drilling is ongoing, with only 600 metres of a planned minimum 2,000 metres completed and no drill assay results yet released; the ultimate extent and consistency of mineralization remain uncertain until full results are available.
• ●The company relies on a small technical and executive team, with key roles held by Jonathan Hamel (President/CEO) and Suzie Tremblay (Qualified Person); progress and credibility are closely tied to their continued involvement and oversight.

Bottom line

Mosaic Minerals has delivered detailed and credible channel sampling results from Golden Island, with multiple high-grade gold intervals and confirmation of coarse gold through metallic sieve assays. The ongoing drilling campaign has made initial progress, but key drill assay results are still pending, and no resource estimate or economic analysis has been provided. The technical disclosure is thorough, with robust QA/QC procedures and oversight by a qualified person, supporting the reliability of the reported data. Investors should recognize that while the grades are impressive, the project remains at an early stage, and economic potential is not yet defined. The next material catalyst will be the release of drill assay results and any move toward a formal resource estimate. The most important takeaway is that Mosaic is demonstrating exploration potential at Golden Island, but investment decisions should await more comprehensive drilling and resource data.

Announcement summary

(CSE:MOC) Mosaic Minerals Corporation announced updated results from its channel sampling program on the Golden Island gold project in Abitibi, Quebec. The program consisted of 343 samples, mostly 0.5 m long, collected from 98 channels and analyzed by fire assay, with gravimetric and metallic sieve re-assays for the highest-grade samples. The company reported an average grade of 280.26 g/t Au over 0.5 m in sample C0380541 (channel 84), with gravimetric finish results of 154.70 g/t and 619.17 g/t Au, and 66.92 g/t Au by metallic sieve. Sample C0381259 (channel 6) returned an average grade of 82.07 g/t Au over 0.5 m, with gravimetric finish of 72.79 g/t Au, duplicate of 116.26 g/t Au, and 57.16 g/t Au by metallic sieve; this sample also contained 42.5 g/t Ag and 0.42% Cu. Sample C0381370 (channel 37) averaged 58.05 g/t Au over 0.5 m, with gravimetric finishes of 54.51 and 55.30 g/t Au, and 64.34 g/t Au by metallic sieve. In channel 61, four consecutive samples over 2.0 m returned 26.21, 61.97, 63.32, and 1.17 g/t Au by metallic sieve. The company identified 50 samples above 1 g/t Au in 35 channels, including 15 above 10 g/t Au in at least one assay. Metallic sieve assays revealed coarse gold, with sample C0381444 increasing from 6.20 to 34.83 g/t Au, C0381450 from 8.81 to 63.32 g/t, and C0381466 from 1.37 to 26.13 g/t. The ongoing drilling campaign of at least 2,000 metres on Golden Island, announced October 29, has surpassed 600 metres drilled in 2 holes to date. All core is logged and sampled as drilling progresses, with results to be released upon receipt and validation. The company inserted a control sample approximately every 20 samples, including 8 certified reference materials and 9 blanks; standards returned 4.01 to 4.25 g/t Au by gravimetric finish (average 4.13 g/t), and all blanks returned less than 5 ppb Au. Fire assay (AA finish) duplicates agreed within 10% for the 12 pairs above 50 ppb, and metallic sieve fine fraction assays agreed within 10% in most cases. The scientific and technical information was reviewed and approved by Ms. Suzie Tremblay, a member of the Ordre des géologues du Québec (OGQ No. 10664), Vice-President of Explo-Logik and consultant to Mosaic Minerals Corp. Jonathan Hamel, President and Chief Executive Officer of Mosaic, stated that the channel results are very encouraging, with gold above 1 g/t in 35 channels and several samples exceeding 50 g/t Au, and that the drilling pace is excellent. The company is advancing the Golden Island (Au), Amanda (Au), and Gaboury (Ni) projects in Abitibi and James Bay, Quebec.

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