Cullinan Metals Corp. announced the results of an airborne MAG/TDEM survey conducted at its Lac-des-les West Graphite Property ("Lac-des-les" or the "Property"). The survey has revealed exciting findings that indicate significant potential for graphite mineralization.

Particularly, two highly promising exploration targets, T1 and T2, have been identified north of the Lac des Iles graphite mine (the "LDI"), currently owned by Northern Graphite Corp. As the sole significant graphite producer in North America, the LDI graphite mine has been in operation for over 20 years and is expected to continue producing up to 15,000 tonnes per year of graphite concentrate over the next two to three years. The interpretation of the survey data highlights the influence of main structural trends in the north-south and northeast-southwest directions on the distribution of graphite-bearing mineralization within the Property.

The areas with potentially high concentrations of graphite mineralization coincide with the geological contact between metasedimentary rocks and quartzites. These areas exhibit high magnetic susceptibility values and conductivity or EM responses (High Tau values). The survey findings demonstrate the potential of the Lac-des-les to host graphite mineralization in an extension of the LDI graphite deposit.

The identified areas of interest, characterized by high magnetic gradients and EM conductivity, have been prioritized for further investigation and represent compelling opportunities for future graphite exploration. The comprehensive geophysical survey, executed in 2023, was conducted by Prospectair Geosurveys of Qubec, Canada, using a high-resolution heliborne magnetic (MAG) and time-domain electromagnetic (TDEM) survey technique. The survey covered a total of 252-line kilometers on the Property, utilizing advanced technology to identify shallow and deep geophysical targets and structures.