Champion Electric Metals Inc. announced that the Company has received the final reports and fully processed data for the UAV-based aeromagnetic survey conducted by MWH Geo-Surveys at the Twin Peaks Project, Lemhi County, ID. The principal findings from the Survey support a possible southeasterly continuation along strike of the favourable rocks and structures that host known copper-cobalt mineralization at the Iron Creek Project, which is located adjacent to the Twin Peaks Project. The new high-resolution magnetics data revealed a sharp discrimination between magnetite-bearing and magnetite-deficient metasedimentary strata in the western portion of the Twin Peaks Project.

This magnetic contrast approximates the contact of the Coarse Unit with the overlying Banded Unit of the Apple Creek Formation. The lower portion of the Banded Unit is host to significant copper-cobalt mineralization at the adjacent Iron Creek Project of Electra Battery Materials, including both the Iron Creek resource and the Ruby Zone discovery. Superposition of UAV-based aeromagnetic data at the Twin Peaks Project onto regional USGS aeromagnetic coverage allows recognition of the stratigraphic interval at Twin Peaks Project that is inferred to have the greatest potential to host additional Iron Creek-style copper-cobalt mineralization.

The survey comprises 630 km of east-west flight lines and over 1.4 million readings at approximately one-half metre spacing. Average sensor height was 32 m above ground level and flight line spacing was 50 m. The data have been examined for quality assurance and subjected to additional processing and interpretation by James Wright, Wright Geophysics (Spring Creek, NV). In addition to aeromagnetic data, MWH Geo-Surveys completed aeroradiometric data acquisition over a 4.75 km2 test area, providing coverages for potassium, uranium, thorium, and total count.

Drone-based radiometrics is a new technology that may lower the cost and increase the efficacy of this important mapping tool. The prominent potassium linear will be examined in the field during the Phase II exploration program. The Twin Peaks Project comprises 2,761 hectares (6,820 acres) and includes both the historical Twin Peaks Copper Mine and the Badger Basin Prospect (refer to the Idaho Champion Press Release of March 23, 2023).

The property is at an early stage of exploration but located approximately 3 kilometres southeast from Electra Battery Metals' advanced exploration stage Iron Creek Project, which boasts an indicated resource of 4.4 Mt grading 0.19% cobalt (Co) and 0.73% copper (Cu) and 1.2 Mt grading 0.08% Co and 1.34% Cu in the inferred category.