Pasinex received permits to commence its phase three drilling program at the Gunman Project and began the drill program on November 13, 2022. Drill targets have been prioritized for reverse circulation drillholes. The drill program has begun later than expected due to driller availability, however, the Company remains hopeful to achieve a minimum of 3,000 metres of drilling in 14 drillholes.

The program is to test a highly prospective two-kilometre zone of mineralized occurrences, hydrothermal alteration and overlapping geochemical and geophysical anomalies. The Company remains on track to meet its spending requirements by the end of 2022, so that it will fulfill its obligations to acquire an initial 51% interest in the Gunman Project.