Collective Metals Inc. provided a review of the Lamont Ridge target area in its Princeton Project (Project), in south-central B.C. 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, located approximately 10 km east of the Project. While the Trojan-Condor Corridor remains the highest priority target area, results from Phase II of the Company?s two-phase soil geochemical survey (Program), completed in 2023, confirmed four (4) promising prospects with favorable geology, geophysical signatures, and/or historic geochemistry. The Lamont Ridge area was previously recognized as a high-priority porphyry target on the basis of favorable geology, strongly anomalous ore and pathfinder elements from rock samples, potassic alteration (inferred from low Th:K ratios in radiometric data), and erratic propylitic-style alteration and, to a lesser degree, mineralization.

Analytical results from soil sampling in 2023 are interpreted to have further delineated porphyry-style Cu-Au-Mo geochemical anomalies in B-Horizon soils overlying Lamont Ridge, including 8 samples from the Lamont Ridge (LAM) and Findlay soil grids yielding >100 ? 335 ppm Cu. Furthermore, one sample returned 1.89 g/t Au from the Lamont Ridge grid.

In addition, historical placer gold production, reported further downstream in Lamont Creek in the early 1900s, supports the metal endowment documented in the area. The 6-km-long, northeast-trending corridor on Lamont Ridge, extending from the LAM to Findlay grid, is underlain by volcanics and sediments of the Upper Triassic Nicola Group, subsequently intruded by comparatively small plugs and stocks of diorite and gabbro assigned to the Triassic Tulameen Ultramafic Complex. Subsequent workers have suggested they are similar to the Triassic Whipsaw Stocks, interpreted to be correlated to the Copper Mountain Intrusions.

Several mineralized or altered outcrops have previously been recognized at Lamont Ridge (i.e., Lam, Elk, Goat, Kid, Bear, and Deer1), with mineralization described as chalcopyrite-pyrite finely disseminated and on fracture surfaces (veinlets) with associated pyrrhotite. Alteration previously identified at the LAM Minfile Showing includes oxidation, propylitic, and carbonate alteration assemblages thought to be associated with a porphyry copper system. Propylitic (weak erratic epidote, chlorite, carbonate) alteration has been recorded in several locations associated with chalcopyrite-pyrite mineralization and a diorite plug of the Rice stock as well as within fault structures.

Rock samples collected by the previous operator in 2010 in the Lamont Ridge area contain very strongly anomalous copper, molybdenum, and lead, strongly anomalous gold and silver, and moderately anomalous zinc. Additionally, analysis of rock samples yielded moderately to very strongly anomalous results for the pathfinder elements cobalt, iron, antimony, selenium, uranium, tungsten, arsenic, cadmium, mercury, sulphur, tellurium, and bismuth. Analytical results for 2023 soil samples similarly returned strongly anomalous copper, molybdenum, gold, silver, as well as for the pathfinder elements tellerium, antimony, arsenic, lithium and moderate selenium, bismuth, and tungsten; and localized thallium at Findlay. A multi-sensor airborne Fugro geophysical survey, completed in 2008, revealed multiple areas of elevated potassium (K) with relatively low thorium (Th).

Potassic alteration, usually comprising K-feldspar, magnetite, and biotite, is an important indicator for proximity to porphyry copper systems. Because thorium does not usually accompany potassium in potassic alteration, low Th:K ratios are interpreted as possible secondary potassic anomalies rather than those caused from lithological variations. A truck-borne spectrometer road survey conducted in 2011 (gamma ray spectrometry) expanded and refined these areas. Localized magnetite alteration, a common feature of porphyry and associated skarn deposits, has also been noted by geologists at various locales throughout the area.

Evaluation of the results of further processing of the 2008 Fugro data, also completed in 2023, defined several discrete magnetic lows (e.g. Lam) and magnetic highs (e.g. Findlay) in the area interpreted as possibly due to the presence of magnetite and magnetite-destructive alteration, respectively, associated with porphyry-style hydrothermal systems.