Major Precious Metals Corp. provide an update on its 2021 diamond drilling program at its Skaergaard Project (“Skaergaard”) in eastern Greenland. The 2021 program at Skaergaard was designed to support and confirm the Mineral Resource Estimate (“MRE”) contained in the NI 43-101 compliant technical report titled "Technical Report on the Skaergaard Project Southeastern Greenland," prepared by SLR Consulting (Canada) Ltd., effective April 15, 2021 and filed by the Company on SEDAR on May 25, 2021 (“the Report”) which outlined Indicated Resources of 5.5 million Palladium Equivalent Ounces (“PdEq ounces”) and a further 14.4 million PdEq ounces in the Inferred Resource Category. Assay results are announced for 11 holes out of 32 holes completed in three areas at Skaergaard in 2021, confirming Pd, Pt and Au results of historical drilling in these areas. Results confirm grades and mineralised lengths for Palladium (Pd), Platinum (Pt) and Gold (Au) in the four main mineralised horizons (H0, H3L1, H3 and H5) which comprise the MRE as outlined in the Report. Precious metal mineralisation is also confirmed in 5 holes drilled in previously untested areas beneath the glacier. In addition, results from two holes drilled on the plateau area, located within the northern portion of the licence, showed mineralisation which may support the potential for open pit mining in the local area. Results from 2 more drill holes in this area are pending. A 32 - hole diamond drilling channel sampling program spanning 8,435 metres was completed in October 2021. A total of 11,600 core and channels samples were collected for Pd-Pt-Au testing, as well as assayed for Fe, Ti, V, Ga and other secondary elements which may provide potential credits pending further study. Drilling has prioritized the northern part of the Skaergaard intrusion beneath the Forbindelses Glacier (the “Glacier”), and two off-glacier areas to the north to determine the open-pit potential. Historically, these priority areas were not drilled at Skaergaard due to logistical challenges.
Mineralised intercept results from the first 11 holes (out of 32) successfully completed within these priority areas confirm the potential to upgrade confidence and significantly expand the existing MRE for Skaergaard. Assay results for the first 11 holes confirmed Pd, Pt and Au grades and mineralised widths are comparable to historical drilling in the four main mineralised horizons that define the existing MRE as detailed in the Report. The assay analysis was performed at Omac Laboratories Limited, Loughrea, County Galway H62 PN80,Ireland. Omac is part of ALS Global, which provides laboratory testing, inspection certification and verification solutions as an international accredited laboratory under ISO/IEC 17025 standards. The analytical protocol used is the Pt, Pd, Au 50g FA ICP-AES and the Four Acid ICP-AES multi-element package (48 elements). Base metals over limits have been finalized with Ore Grade Elements Four Acid ICP-AES. Available results from five holes completed as part of a NW-SE trending drill fence on the Forbindelses Glacier, with drill holes spaced approximately 300 metres apart, are showing continuity of Pd, Pt and Au grades and thicknesses. Results of testing the mineralisation beneath the glacier are projected to allow the Company to not only upgrade the resource classification in this large area, but also to expand the MRE from the existing geological model further to the north. Hole MPD0012, one of four holes completed on a plateau in the area NE of the Forbindelses glacier, returned near surface Pd-Pt-Au mineralisation from a vertical depth of 35 metres along with some Ti and Cu mineralisation from surface. MPD015, a second hole drilled in the same pad as historical drill hole PRL11-57, but dipping south and designed to test the extension of and potential resource expansion of mineralised material, also confirmed the geometry and distribution of Pd-Pt and Au mineralisation in this area. Pending assay results from the two holes nearby, and historical drilling, will be used to assess the open pit potential in this area as part of the PEA. Assay results for holes MPD001, MPD002 and MPD003 (Table 1 and Figures 1 and 4, Section C-C') also show the consistency of the mineralised Pd-Pt-Au footprint in the northwest area of the project. Note that the assay results in Table 1 also show the consistent broader halo of anomalous, and currently subeconomic concentrations of palladium, iron (Fe), titanium (Ti) and vanadium (V) in context of the mineralised H0, H3L1 and/or H3 horizons reported as Mineral Resources in the 2021 Technical Report. This lower grade mineralisation will be further evaluated as more results are received, aiming to test the economic potential for underground bulk tonnage mining in conjunction with potential credits for secondary elements. The Company will continue to work with SLR to interpret remaining assay results, update the MRE and produce a PEA for Skaergaard over the upcoming period. SLR, represented by Senior Geologist Phil Geusebroek, P.Geo., and Senior Mining Engineer Murray Dunn, P.Eng., completed an independent site visit during the week of August 23, 2021. Both individuals are Independent Qualified Persons (QP) under NI 43-101. The QPs reviewed the Company's active diamond drilling, core logging and sampling facilities and confirmed that the Company was adhering to strict QAQC procedures and following CIM exploration best practices. SLR also assessed areas for access to potential mining operations and basic infrastructure requirements for future mining infrastructure and open pit and underground mining options which will form an integral part of the upcoming PEA.