Mr. Jonathan Hamel reports

MOSAIC MINERALS ANNOUNCES START OF EXPLORATION WORK ON ITS GOLDEN ISLAND GOLD PROPERTY

Mosaic Minerals Corp. has started its summer exploration campaign on its Golden Island gold property. Field crews are currently deployed on site to begin preliminary work for the season.

Preparatory work and stripping

A team is currently in the field to begin the first phase of the campaign. Initial work will consist of clearing access roads and cleaning historical trenches. These preparatory steps will allow the company's geologists to identify priority areas for prospecting and stripping before the arrival of heavy machinery expected in the coming days.

Mapping, sampling and exploration

As soon as access roads and trenches are cleared, the geological team will conduct an initial surface sampling program, including groove sampling, as well as a complete geological survey. The campaign, officially scheduled to run from June 16 until the end of July, will include the following steps:

• Precise location: GPS (Global Positioning System) survey of all historical trenches, the original shaft, the underground gallery entrance and the old drill collars drilled by SOQUEM;
• Underground evaluation: safe walkthrough and sampling of the existing gallery to catalog and analyze all internal mineralized structures;
• Targeted exploration: intensive exploration in the immediate vicinity of the main zone.

Bulk sampling program (mini-bulk)

To better assess the nature of the mineralization at Golden Island, the company also plans to collect mini-bulk samples of approximately 500 kilograms (kg) each from the various identified areas. These samples will be processed in a small pilot plant to evaluate the ratio of coarse gold to overall mineralization. This method will act as a large-scale metal screening analysis, thus providing a much more accurate representation of the system's gold content.

"We are eager to rediscover the potential of Golden Island. Historical work provides us with excellent targets and our rigorous approach, including mini-bulk testing, will allow us to fully understand the dynamics of coarse gold on the property," concluded Jonathan Hamel, chief executive officer of Mosaic.

Historical work and resources

Multiple exploration programs have been carried out in previous years. Notably, in 1982, SOQUEM completed a short program of eight drill holes (1,150 metres (m)), three of which were drilled in the main zone (see table 1).

It should also be noted that drill hole 82-5, located approximately one kilometre (km) northwest of the main zone, intersected a 4.7-metre interval grading 1.31 grams per tonne (g/t) gold (Au). This drill hole is associated with the same magnetic anomaly as the one linked to the main shaft.

2024 exploration campaign

An exploration session using an underwater drone allowed for the clear identification, through photography, of quartz veins and veinlets within the gallery walls. The rock's strength has ensured that the gallery has not collapsed, even after nearly a century. Sampling work carried out in the fall of 2024 focused on a set of gold-bearing veins located southeast of the old mine shaft. A total of 25 selected samples were collected (see table 2) from both the old trenches and outcrops.

During the 2024 sampling, the presence of numerous quartz veins was noted in the vicinity of the trenches and the main shaft. The gold-bearing zone is in contact with a strong magnetic anomaly several kilometers long, running in a northwest-southeast direction.

Qualified person

The scientific and technical information of Mosaic Minerals included in this news release has been reviewed and approved by Robert Gagnon, PGeo, director of Mosaic Minerals and qualified person under National Instrument 43-101 respecting information concerning mining projects.

About Mosaic Minerals Corp.

Mosaic Minerals is a Canadian mining exploration company listed on the Canadian Securities Exchange. The company is developing the Golden Island (Au), Amanda (Au) and Gaboury (nickel (Ni)) projects, located in Abitibi and James Bay (Quebec).

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