Collective Metals Inc. Provides Review of Results from the Fourteen Mile Target Areas in its Flagship Princeton Project in South-Central B.C

Collective Metals Inc. provided a review of results from the Fourteen and Fifteen Mile target areas in its flagship Princeton Project in south-central B.C. (Project). The Property hosts several alkalic Cu-Au porphyry targets associated with Triassic diorite intrusions analogous to those associated with the currently producing Copper Mountain Mine, which lies approximately 10 km to the east. Results from a soil geochemical survey completed in 2023 are interpreted to confirm the mineral potential of the Fourteen and Fifteen Mile target areas as one of five (5) promising prospects with favourable geology, geophysical signatures, and/or historic geochemistry.

The Trojan-Condor Corridor, which hosts significant chargeability anomalies identified in a previous Induced Polarization (?IP?) survey, is considered a drill-ready target. The Company plans to conduct IP surveys over the other four target areas, including the Fourteen Mile target, in 2024. The Fourteen Mile and Fifteen Mile areas have been previously established as porphyry targets based on favourable geology, magnetic anomalies, mapped alteration, weak mineralization, and anomalous pathfinder geochemistry in rocks and silt samples.

The Company?s 2023 soil sampling program included three grids in the area (i.e., Fourteen-, Fifteen-, and Sixteen-Mile Creek grids) each of which yielded multi-element, pathfinder element geochemical anomalies in B-Horizon soils. Rocks collected in the area (n=21) are variably enriched in pathfinder elements (e.g. arsenic, bismuth, cobalt), yielding up to 0.16 ppm Ag and 155.5 ppm Cu, with both highly elevated Ca (=15.3%) and Fe (=7.01%), consistent with interpreted iron carbonate ? silica alteration characteristic of the area.

The Fourteen Mile area is underlain by volcanic tuffs and sediments of the Upper Triassic Nicola Group near the western margin of overlying Eocene Princeton Group volcanics. North of the target area, a small (<1 km2), medium- to fine-grained hornblende diorite plug is associated with very well-developed iron carbonate-silica alteration and chalcopyrite-limonite-malachite mineralization in adjacent sandstone. While Massey (2009) assigned the Fourteen Mile diorite intrusion to the Triassic Tulameen Ultramafic Complex, subsequent workers have suggested it is similar to the Triassic Whipsaw Stocks, interpreted to be correlated to the Copper Mountain Intrusions.

The area is cut by a network of NE- and NW-trending faults, interpreted to influence mineralization and alteration Regionally, the southern portion of the Project area is underlain by a large, high intensity magnetic anomaly very similar to that spatially associated with, and underlying, the Copper Mountain Camp and currently producing Copper Mountain Mine. The Project is interpreted to have been down dropped progressively to the west across both the Boundary and Whipsaw faults. The high intensity magnetic anomaly, together with porphyry-style alteration and mineralization documented within the Trojan-Condor Corridor to the southeast, in the Lamont Ridge area to the north and the Fourteen, Fifteen and Sixteen Mile Creek grids are interpreted to support potential for discovery of additional occurrences of porphyry-style Cu-Au mineralization.

Three areas of very well-developed iron carbonate-silica alteration are mapped in the area (C-1, C-2, C-3),2 characterized by limonite with associated carbonate, saussurite and potassic alteration and localized sparse chalcopyrite-malachite mineralization. Rock samples from the C-1 anomaly (1.33 km2 in size) at the Fourteen Mile target yield very strongly anomalous molybdenum, arsenic, cadmium, uranium, mercury; strongly anomalous tin, iron, selenium; moderately anomalous silver, lead, antimony, tungsten, and weakly anomalous copper and bismuth. High-quality sieved sediment samples collected by the previous operator in 2011 (n=123) yielded highly anomalous copper (up to 504.5 ppm).

B-horizon soils from 2023 did not yield highly elevated copper but did return elevated pathfinder elements from the soil grids at both Fourteen Mile and Fifteen Mile targets. These results are also spatially associated with a small diorite intrusion. Previous rock samples from the Fifteen Mile target yielded very strongly anomalous gold, arsenic; strongly anomalous copper and iron; moderately anomalous molybdenum, silver, zinc, bismuth, cadmium, cobalt, sulphur, uranium and tungsten; and weakly anomalous lead, mercury, antimony, selenium, and tellurium.

A north-trending magnetic high corresponds generally with mapped Princeton Group cover with minor anomalies at the margins. Several small radiometric anomalies (low Th:K), inferred to represent potassic alteration, are aligned in E-W trends along the Fourteen Mile and Fifteen Mile creeks and are spatially associated with the mapped iron carbonate-silica alteration and a weak magnetic low in Nicola Group Rocks. The Company has applied to conduct up to 20 km of IP surveys in the Fourteen Mile Creek target area in 2024.

The most advanced target on the Property, the Trojan-Condor Corridor, is defined by a large (approximately 1.5 x 3.3 km), strong (>20 mV/V) chargeability anomaly along the corridor. Kodiak Copper has used 3D IP to generate successful drill targets at their MPD Property 20 km to the northeast of the Princeton Property.