VR Resources Ltd. has received complete results from caustic fusion and mineralogy from hole NW22-001, the first hole into the kimberlite breccia pipe on its Northway property in Northern Ontario. A micro-diamond fragment was recovered from the uppermost part of the 30 metres of kimberlitic material intersected in drill hole NW22-001, the first reconnaissance drill hole into the eastern part of the 1.2 km magnetic anomaly at Northway. Attributes of the micro-diamond include: clear, free of inclusions; transparent, colourless; a fragment of a larger diamond.

Additional heavy mineral analyses from this section of core reveals: 1 eclogitic pyrope-almandine garnet with Mg-ilmenite inclusion; 6 chromite grains, of which 2 fall within the diamond stability field; The sample interval (243 - 257.7m) of kimberlitic pyroclastic mudstone and waterlain volcaniclastic kimberlite which contains the diamond fragment, at the top of the 30 metres intersected in Hole 001 into the crater facies at the top of the breccia pipe complex, before the hole was terminated due to caving in the overburden (NR-23-005; February 22, 2023). The balance of caustic fusion and mineral composition results are pending for holes 002 and 003 which were collared at the same site located approximately 450 m to the northwest of Hole 001. Samples from holes 002 and 003 span 438 m of core and make up the bulk of the 468 m of kimberlite intersected in all three holes and submitted for caustic fusion and mineral chemistry.

Compositional studies for Hole 001: Compositional data were obtained from 2 samples of drill core submitted for wholerock and ICP-MS trace element geochemistry at ALS Laboratories, and from analysis of 15 samples of pelletal, accretionary diatreme breccia by an electron microprobe (EMPA) equipped with an Energy Dispersive Spectrometer (EDS) by Renaud Geological Consulting Ltd. (RGC) based in London, Ontario, with extensive experience in kimberlite exploration, geology and mineralogy. Preliminary observations include: Deep crustal glimmerite xenoliths composed of massive phlogopite are common; Phlogopite xenocrysts and mineral grains in xenoliths plot within kimberlite fields on Ti-Al plots, and in kimberlite-orangeite field on Al-Fe plots melilite is observed in phlogopite-dominated magmaclasts and in accretionary rims; Garnet is observed within altered xenocrysts of eclogite or websterite; Accretionary lapilli are mainly biotite-phlogopite (now illite), surrounded by illite, dolomite-ankerite, F-apatite, and perovskite; Pelletal lapilli are hosted in a groundmass of carbonate, Ti-Ba-biotite-phlogopite including glimmerite nodules, F-apatite, Al-spinel, clinopyroxene, Nb-ilmenite, monazite and perovskite. Two of the Mg-rich chromite heavy mineral grains recovered from the diamond-bearing kimberlitic mudstone at the top of the breccia pipe intersection also plot within the diamond stability field, consistent with the compositional data of the phlogopite xenocrysts.