­ Gelum Resources Ltd. reported that it has expanded its exploration portfolio by entering into an agreement under which Gelum may earn a 100% interest in the 8,736 ha (87 km2) ML land position, 6 kilometres from the Mt. Polley porphyry Cu-Au past-producing mine (care and maintenance; Imperial Metals Corp.), 6 kilometres from Osisko's QR Deposit (past-producer) and 28 kilometres from the active Gibraltar porphyry Cu-Mo active mine (Taseko ­ 75%, Cariboo Copper Corp. ­ 25%), located in south-central British Columbia, Cariboo Mining District (Figure 1). The ML copper-gold property, located in central British Columbia, is accessible year-round along the Likely Road, approximately 87 kilometres northeast of Williams Lake. The property is accessed along numerous logging roads. The 8,736-hectare property contains multiple ARIS copper and gold occurrences and is considered prospective for mesothermal gold and porphyry copper-gold-molybdenum deposits. Historical exploration is concentrated on the higher elevation
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.