Green Bridge Metals Corporation announced that it has entered a letter of intent with Encampment Minerals Inc., dated February 5, 2024 whereby the Company has an option to earn an 80% interest in the 8,460-hectare (84.6 square kilometre (km)) South Contact Zone Project, targeting copper (Cu), nickel (Ni)-platinum group element (PGE) mineralization. The project area is located approximately 65 km north of the city of Duluth, Minnesota. The South Contact Zone (SCZ) project is located along the southern basal contact of the Duluth Complex (Complex) which hosts several world-class Cu-Ni deposits.

The SCZ is located immediately south of the Mesabi Range iron ore district. It is estimated that the northwestern margin of the Complex contains 4.4 billion tons of sulfide mineralization grading 0.66% Cu and 0.20% Ni. The Complex is part of the Midcontinent Rift System, a region characterized by mafic and ultramafic hosted Cu-Ni-PGE mineralization, including multi-million-ton deposits such as Eagle (4.1 million tonnes @ 2.9% Cu, 3.6% Ni), Tamarack (8.5 million tonnes @ 0.9% Cu, 1.7% Ni, and Mesaba (2.2 billion tonnes 0.4% Cu, 0.1% Ni, 0.5 ppm PGE).

In addition, the SCZ is a prime locality for Oxide Ultramafic Intrusions (OUI) which host high-grade iron (Fe) -titanium (Ti) - vanadium (V) deposits that commonly contain significant disseminated Cu-Ni sulfide mineralization and are associated high grade Cu-Ni targets. Green Bridge is optioning the project from Encampment Minerals Inc., (EMI) a privately owned U.S. corporation.