21:52:41 EDT Tue 29 Sep 2026
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Sankamap Metals Inc
Symbol SCU
Shares Issued 87,043,888
Close 2026-09-29 C$ 0.275
Market Cap C$ 23,937,069
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Sankamap samples up to 116 g/t Au, 4% Cu at Fauro

2026-09-29 18:03 ET - News Release

Mr. John Florek reports

SANKAMAP EXPANDS EXPLORATION FOOTPRINT AT FAURO AS SYSTEMATIC PROSPECTING ADVANCES AND NEW GOLD TARGETS EMERGE

Sankamap Metals Inc. has provided an update on its continuing exploration program at 24,100-hectare Fauro property in the Solomon Islands. Fauro is situated within a highly prospective Cu-Au (copper-gold) mineral belt that hosts several significant porphyry and epithermal deposits, including Panguna and Lihir.

The prospecting program at the Fauro property was designed to expand and strengthen the company's geological and geochemical database through systematic geochemical sampling and detailed field observations. The resulting property-wide data set will support the refinement and prioritization of existing exploration targets ahead of future drilling, while also providing an opportunity to identify and advance new prospective areas across the property (798 samples pending assays).

Recent silt sampling returned values of up to 6.78 grams per tonne (g/t) gold (Au) from an area with no known historical sampling, highlighting the potential to identify new exploration targets across the property.

Chief executive officer John Florek commented:

"Fauro represents a compelling exploration opportunity for Sankamap, owing to its location within the highly prospective regional metallogenic belt that hosts copper-gold systems such as Lihir and Panguna. The presence of extensive epithermal mineralization at surface, together with historical drilling and geophysical evidence suggesting a larger underlying mineralized system, provides a strong foundation for the company's exploration strategy.

"During recent reconnaissance and prospecting activities, the exploration team encountered several drainages where local artisanal miners were actively panning for gold. A representative grab sample of silt collected from one of these drainages returned 6.78 g/t Au, providing further evidence of an active gold-bearing system within the broader project area.

"With 798 assays currently pending and in ongoing prospecting in progress and continuing, Sankamap's systematic prospecting program is significantly expanding the geological and geochemical coverage across Fauro, including areas that have seen little or no historical exploration. These results will be integrated with our data sets to refine the company's highest-priority targets as it advances toward additional planned geophysical surveys, followed by an initial drilling program. The company looks forward to continuing to build its geological understanding of this large and highly prospective property."

Highlights:

  • The prospecting program includes systematic rock sampling to advance priority targets and define new targets, with 798 assay results pending;
  • An induced polarization (IP) geophysical survey will be conducted over high-priority target areas to further refine and prioritize drill targets.
  • A subsequent initial 2,000-to-3,000-metre drill program is planned.
  • Recent Sankamap surface sampling has returned values of up to 116.0 g/t Au and 4.0 per cent copper (Cu), highlighting the potential for significant high-grade mineralization across the Fauro property.
  • Silt sampling returned values of up to 6.8 g/t Au from a previously unsampled area, highlighting the potential to identify and advance multiple new exploration target areas.

Discussion

The Fauro property highlights multiple highly prospective target areas that exhibit geological and geophysical signatures consistent with those associated with known mineralized zones. These compelling targets underscore the significant discovery potential that remains across the property. As exploration advances, the company is excited by the opportunity to uncover additional zones of mineralization and further expand, connect and strengthen the rapidly growing mineralized footprint, reinforcing the district-scale potential of the project.

Historical drilling, surface sampling and geophysical surveys at the Fauro property have identified multiple prospective near-surface epithermal gold systems. Previous prospecting at Fauro included systematic sampling at the Meriguna and Kiovakase targets, which further confirmed significant surface mineralization, with rock samples returning values of up to 116 g/t Au at Meriguna and up to 4 per cent Cu at Kiovakase.

To date, the company has collected 829 samples across the Fauro property, with assays for 798 samples currently pending at the laboratory. Importantly, systematic sampling has expanded into areas of the property with limited or no historical exploration data, providing an opportunity to identify previously unrecognized mineralized zones and generate new exploration targets across Fauro.

The company's 2026-2027 exploration program is focused on systematic geological mapping and geochemical sampling to validate and expand upon historical results, refine existing targets and identify new prospective areas across the property. Targeted geophysical surveys are also planned over high-priority areas to further enhance geological understanding and refine drill targets in advance of future drilling.

Quality assurance and control procedures

Sample preparation and analysis was completed at the Brisbane, Australia, ALS Global facility accredited by the National Association of Testing Authorities (NATA) and compliant with international standards ISO/IEC 17025. Rock samples were analyzed using four-acid digestion methods on 34 elements: HF-HNO3-HCIO4 acid digestion, HCL leach and ACP-AES. Rock and silt samples for gold were analyzed using the fire assay technique with a 50-gram sample under the ALS code Au-AA26. A secure chain of custody procedure was maintained in storing and transporting samples. Sankamap uses industry standards for collecting samples taken on the Fauro property, internal quality assurance and quality control (QA/QC) procedures were followed by ALS.

About Sankamap Metals Inc.

Sankamap Metals is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania project, located in the South Pacific. The company's fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits, including the nearby Newmont Corp.-operated Lihir mine, which has reported proven and probable mineral reserves of 310 million tonnes (t) grading 2.3 g/t Au containing 23 million ounces (oz) Au. Reported mineral resources, exclusive of mineral reserves, include indicated mineral resources of 520 million t grading 2.3 g/t Au containing 39 million oz Au, measured mineral resources of 81 million t grading 1.9 g/t Au containing five million oz Au, and inferred mineral resources of 61 million t grading 2.3 g/t Au containing 4.9 million oz Au. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The information disclosed from adjacent properties is not necessarily indicative to the mineralization on Sankamap's property.

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap's Oceania project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7 per cent Cu and 13.5 g/t Au, underscoring the area's significant potential.

At Fauro, particularly at the Meriguna target, historical trenching has returned highly encouraging results, including 8.0 metres at 27.95 g/t Au and 14.0 metres at 8.94 g/t Au. Complementing these results are grab sample assays, including historical values of up to 173 g/t Au, along with recent sampling by Sankamap at the Kiovakase target, which returned numerous high-grade copper values, reaching up to 4.09 per cent Cu. In addition, limited historical shallow drilling intersected 35.0 metres at 2.08 g/t Au, further underscoring the property's strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+, under Sankamap's profile.

QP (qualified person) disclosure

The technical content for the Oceania project in this news release has been reviewed and approved by John Florek, MSc, PGeol, a qualified person in accordance with CIM guidelines. Mr. Florek is in good standing with the Professional Geoscientists of Ontario (member ID No. 1228) and a director and officer of the company.

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