Mongoose Mining Ltd. provide an update on exploration of its IOCG (Iron Oxide-Copper-Gold) projects in rural Nova Scotia Canada. LAND PACKAGE OVERVIEW; Mongoose is engaged in the exploration and development of IOCG deposits in the Cobequid Highlands of central Nova Scotia, Canada. The Cobequid-Chedabucto Fault Zone is a large crustal fault system within the Cobequid Highlands.

In 2007, Minotaur Exploration Limited identified the CCFZ and associated iron oxide deposits as an IOCG style system. Minotaur completed extensive work programs including regional gravity, VTEM, magnetic and geochemical surveys and successfully identified high-priority drill targets. Due to the impact caused by the 2008 financial crisis, exploration activities on the Property ceased, leaving these targets yet to be drilled.

Building on the foundation of Minotaur's work, data compiled from both a recent Nanospectra geophysics assessment and an extensive compilation of historical reports was applied to an AI algorithm/machine learning program from Mercator Geological Services. This work resulted in the generation of numerous new targets on the Property and an assessment of targets identified by Minotaur. CURRENT EXPLORATION INITIATIVES; Regional exploration is currently underway and expected to continue throughout the next several months (weather permitting).

The primary focus is the systematic evaluation of targets generated by Mercator. Mercator digitized the data of 150 previously filed geological studies and reports within the claim block held at Bass River and Londonderry. These reports included geological mapping, and multiple geochemical and geophysical surveys.

The data was then entered into an IOCG modelling algorithm and machine learning exercise. From this, 28 priority targets were generated with "good" prospectivity as determined by the algorithm. Nine of which were "high" prospectivity.

Samples from field recognisance are at the lab awaiting assay results. The past fall, a magnetite outcrop with showings approximately 15m along a small brook was discovered 4.1km west of the Bass River drill site. Grab samples were collected from this zone, named Fire Road, and all sent to Dalhousie University's Minerals Engineering Centre in Halifax for analysis.

Results showed significant cobalt and iron values, similar to grades observed in the Bass River drill holes. It should be noted that Dalhousie University's lab is not ISO/IEC 17025 accredited, however OREAS Certified Reference Material (CRM) was assayed with the batch and returned acceptable analytical results. Grab samples are selective in nature and may not represent the entire mineralized zone.