Inventus Mining Corp. provide an exploration update and 2021 review for its 100%-owned Sudbury 2.0 and Pardo Projects. Exploration Update:- At Sudbury 2.0, a drill rig moved to the Cobalt Hill gold-cobalt-nickel target at the end of 2021, and a 4,000-m drill program has started to test a large 3D IP anomaly.

Drilling in early 2021, before the 3D IP survey, intersected the northern edge of the anomaly and retuned 7 m of 4.4 g/t gold, 900 ppm cobalt and 300 ppm nickel. At Pardo, the phase one bulk sample of approx. 6,000 tonnes from the 007 Zone has been extracted and crushed with shipment to the mill starting in early January.

Sudbury 2.0 Review In 2021, the Sudbury 2.0 Project was expanded and consolidated with the acquisitions of Rathbun, Cobalt Hill and the Lake Zone. A property-wide airborne MT survey was completed in July, surface exploration work was conducted at Rathbun, and drilling was conducted at the Lake Zone, Cobalt Hill, and very recently at Rathbun. The first pass of drilling conducted at Cobalt Hill and the Lake Zone in the winter of 2021 provided an initial look at core samples to better understand the geology and mineralization present on the properties.

The mineralization is believed to be related to an IOCG-type mineral system with enrichment of gold, copper, cobalt, nickel and REEs. 2021 drilling highlights from the Lake Zone and Cobalt Hill include: 18.5 m of 6.6 g/t gold, 0.76% copper and 180 ppm cobalt (Lake Zone) 44 m of 1.3 g/t gold, 400 ppm cobalt and 200 ppm nickel, including 7 m of 4.4 g/t gold, 900 ppm cobalt and 300 ppm nickel (Cobalt Hill) Following the 2021 drilling at Cobalt Hill, a 3D induced polarization survey (3D IP) was conducted to target sulfides that correlate with the mineralization. The 3D IP detected a large 600-m north-south by 500-m east-west anomaly that is open at depth and correlates well with Inventus' surface mapping and drill intersections.

A drill was mobilized to Cobalt Hill in late December 2021 following a small drill program at Rathbun. Drilling is commencing and will investigate the source of the 3D IP anomaly. At Rathbun, surface exploration led to the discovery of a Sudbury footwall structure extending along a strike length of approximately 1.5 km.

Surface sampling of the structure returned up to 7.2 g/t palladium, 1.1 g/t platinum, 0.7 g/t gold, 1.0% copper, and 0.5% nickel. In December 2021, a drill program consisting of seven shallow holes was completed and drill core is currently being processed. The structure has a variable thickness along strike with a southward dip that appears to follow a geological contact between the Nipissing diabase and Gowganda sediments.

A 3D IP survey is planned on the property this winter that will identify any areas of sulfide mineralization like the high-grade mineralization found at the properties historic shaft. The Company reached several milestones on the Pardo Project during 2021, including permit approval for a 50,000-tonne bulk sampling program, a milling agreement with Northern Sun Mining, and significantly improved gold grade reconciliation using mini bulk samples and channel sampling. These achievements helped advance Pardo closer to a maiden mineral resource estimate.

Currently the phase one bulk sample from the 007 Zone, consisting of approximately 6,000 tonnes, has been extracted and crushed on site awaiting shipment. Trucking of the bulk sample to the Redstone Mill in Timmins is expected to be completed in February followed by processing to produce a gold flotation and gravity concentrate for further refining and sale. A channel sampling program was conducted in July 2021 at the Trench 2 area.

The channels were taken from surface exposures of the conglomerate reef where possible and cut from top to bottom of the reef, emulating a diamond drill hole. The larger channel samples provided a cheap alternative to typical diamond drilling with more reliable gold grades. Highlights of channel sampling include: 5.5 m of 10.2 g/t gold, including 1.0 m of 47.9 g/t gold, 2.0 m of 11.8 g/t gold, including 1.0 m of 22.6 g/t gold, 2.5 m of 9.4 g/t gold, including 0.5 m of 26.4 g/t gold, 3.0 m of 6.1 g/t gold, including 1.5 m of 9.1 g/t gold, 2.5 m of 6.3 g/t gold, including 1.0 m of 12.5 g/t gold, 2.0 m of 7.4 g/t gold.

2.0 m of 7.0 g/t gold.