Renforth Resources Inc. update shareholders on results from the Company's March/April 2023 drilling on ~20km Victoria mineralized structure at Surimeau. The main finding of this drill program is an increase in the frequency and thickness of mineralized graphitic mudstone layers, like the mineralization seen in the very first holes drilled at Surimeau, approximately 6km to the east. The mineralized graphitic mudstone is also exposed on surface, south of the previously drilled 2.2 km of Victoria strike.

Victoria's geological setting includes graphitic shale, mafic and ultramafic rock, a setting similar to the Outokumpu district in eastern Finland. Outokumpu District encompassed 3 major deposits mined between 1913-88, resulting in production of ~50Mt of ore consisting of 2.8 wt.% Cu, 1 wt.% Zn, 0.2 wt.% Co and minor amounts of Ni and Au. Terrafame's low carbon Talvivaara Mine, located just north of the Outokumpu District, boasts reserves of 1 billion tonnes of ore grading 0.22% nickel, 0.13% copper, 0.5% zinc and 0.02% cobalt containing 2.2 million tonnes of nickel, 1.3 million tonnes of copper, 5 million tonnes of zinc and 0.2 million tonnes of cobalt.

Importance of Mineralized Graphitic Mudstones. Zinc-rich graphitic mudstones are notable at Surimeau, and are a characteristic of a VMS environment, some of which may host economic VMS mineralization. At Surimeau, graphitic mudstone is in direct structural contact with the surrounding ultramafic bodies.

Alteration of the ultramafics to calc-silicates along this contact is at times significant with widths of up to several meters. The calc-silicate-rich rock adjacent to the graphitic mudstones often host Zn and Ni occurring as a significantly wider mineralized horizon in localized zones along strike. These wider mineralized areas are priority targets for ongoing exploration at Surimeau.