Inventus to Acquire Historic Golden Rose Mine Adding High-Grade Gold Growth Asset 14 km From Pardo

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Figure 1. Location of Inventus properties

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About Inventus Mining Corp.

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Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. We have a 100% interest in our principal assets, the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project, located northeast of Sudbury. The Pardo Gold Project is the first important paleoplacer gold discovery in North America. Inventus has approximately 221 million common shares outstanding.

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Qualified Person

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The Qualified Person responsible for the technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

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Technical Information

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The historical estimate is considered relevant because it describes gold mineralization in and around the historic Golden Rose mine workings and may assist Inventus in planning data compilation, verification and exploration work. The source states a density assumption of 10 cubic feet per short ton and reports alternative cutoff cases of 0.10, 0.115 and 0.15 oz Au per short ton. Sufficient information is not available to independently confirm all key historical estimation parameters and methods, including interpolation, compositing, grade capping, survey control, assay QA/QC, classification criteria and historical mine depletion, and accordingly the reliability of the historical estimate has not been established to current standards. The historical terms “proven,” “probable” and “possible” predate and are not equivalent to the mineral resource and mineral reserve categories prescribed by current CIM Definition Standards, and Inventus has not attempted to assign these historical categories to current CIM categories.

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The 2022 NI 43-101 technical report also references a 1986 Noramco historical global geological resource of approximately 2.4 million tonnes grading 0.26 oz Au/ton containing approximately 617,000 ounces of gold. This estimate is also historical in nature. The 2022 technical report states that no NI 43-101-compliant mineral resource or mineral reserve estimate has been completed for the Golden Rose deposit.

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To verify the historical estimate and potentially classify the mineralization as a current mineral resource, Inventus expects that work would include compilation and validation of historical drilling, underground sampling, assay and production records; confirmation of collar and underground survey control; review of density information; resampling or twinning of historical core where practical; confirmation drilling using current QA/QC procedures; preparation of an updated geological model; and completion of a mineral resource estimate under the supervision of a qualified person using current CIM Definition Standards.

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References

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⁽¹⁾ Winter, L.D.S., 1985. Geological Report on the New Golden Rose Property, Afton & Scholes Townships, Ontario, prepared for Emerald Lake Resources Inc., January 31, 1985.
⁽²⁾ Nagerl, P., 2022. Golden Rose Gold Project, Afton Township, Province of Ontario, Canada, National Instrument 43-101 Independent Technical Report, effective July 8, 2022.
⁽³⁾ Whymark, W., 2020. Golden Rose Property – 2020 Exploration Drilling Program, prepared for Conquest Resources Limited.

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Forward-Looking Statements

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This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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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.

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