Gelum Resources Ltd. Expands Exploration Portfolio
terrain along the southeast edge of the property where favourable units crop out. Historical grab sampling at ML has yielded up to 1.01% Cu (Assessment Report 215842) and up to 0.65 g/t Au (Assessment Report 129033). A small drill programme in 1985 targeted a copper soil anomaly
associated with a mineralized monzonite stock and adjacent volcanic and sedimentary units and comprised short (45 to 92m) holes that total 435m. This drilling did not adequately test the mineralized outcrops located northwest and upslope from the soil anomaly. The historical sampling results described in the text and maps are solely included to demonstrate the presence or absence of mineralization. Rock grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project. Rock grab samples reported from the Project reflect a broad range in grade from below detection limit to the grades highlighted herein. The ML Property is located along trend from the Mount Polley4 copper-gold deposit (Figure 2) and underlain by Late Triassic Nicola Group basalt (reactive host rocks) and Lower Jurassic felsic breccia and sandstone. These are intruded by Triassic-Jurassic monzonite, syenite and younger quartz monzonite/granite. Initial reconnaissance geological mapping in the fall of 2021 identified porphyry dikes, copper oxides in fractured chlorite-altered basalt (Figure 3A), altered/demagnetized basalt with strong overprinting hematite-limonite, as well as hematite- limonite-silica cemented breccia with silicified basalt clasts (Figure 3B). These lithologies, textures and alteration minerals are common in the alkalic porphyry copper environment. Gelum plans to conduct an airborne magnetic survey at the ML project and will conduct follow- up surface exploration work Q2/3 2022 with the objective of identifying drill targets.