Rae Copper Project

Hulk Sedimentary Prospect

Nunavut, Canada

Sedimentary-Hosted Copper – Hulk & Stark

Beyond Danvers, Rae hosts extensive Proterozoic Rae Group sedimentary basins of the type that host the world’s largest copper deposits. This is a separate, Tier-1-scale exploration play targeting basin-hosted copper across tens of kilometres of strike.

The maiden diamond hole into the sediment targets, STK25001, confirmed copper mineralisation both above and below the targeted redox boundary – validating the geological model and providing strong vectors for follow-up drilling.

Maiden Drilling

  • 2026 drilling now underway with first assays expected from August 2026

  • First results from the diamond drillhole targeting sedimentary hosted copper at Rae confirms sediment hosted copper mineralisation:
    – STK25001 returned assays of 7m @ 0.4% Cu, from 177m and 3.5m @ 7.2% Cu (from 287m) in the basement below; and
    – STK25003, ~500m south returned 25m @ 0.6% Cu, from 240m

  • Both holes confirm copper adjacent to sediment–basement unconformity

  • High grade copper veining in the basement indicates significant volumes of copper rich fluid have passed through these fractures directly below the Rae Group Sediments

  • System remains open east and north with immediate targets

Cross section, looking to the open east - illustrating drillholes STK25001 and STK25003, which both intersected copper mineralisation adjacent to the Rae Group, Husky Creek Formation redox boundary

Unlocking the Sediments

  • Proterozoic Era basins host some of the largest sediment hosted copper deposits

  • Drill results, alongside geophysics indicate the outer edge of the system was drilled

  • Typically, grades increase as the system vectors towards the higher-grade chalcocite & bornite – which is seen in abundance across the project

  • High resolution airborne electro-magnetic survey completed – Geophysics signatures now defined
  • Drill rig on Site with drilling to commence Q3 2026

  • Results from limited area reinforce district-scale copper potential

Plan view of 2025 drillholes STK25001, STK25003 & STK25004 into the Stark target. Basemap of conductivity from 2024 MT survey illustrating an untested zone of deep conductivity to the east /northeast of drillholes

2026 Drilling Program

  • 2025 drilling program confirmed the presence of sediment hosted copper mineralisation at the base of the Rae Group, where it is in contact with underlying, oxidised sediments and basalts of the Husky Creek Formation (the redox boundary).
  • A total 1.7km strike length of copper mineralisation was discovered adjacent to the Herb Dixon Fault concentrated at the redox boundary

  • Diamond drilling within the Rae Group sediments will be conducted on wide spacings, targeting structural features across the >4.7km wide basin

  • EM conductors to the east of STK25001 discovery drillhole, defined by 2025 survey will be tested in the 2026 drilling program

District-Scale Conductive Anomalies

Hulk comprises multiple fault-controlled sub-basins interpreted as favourable sedimentary copper horizons:

  • Three fault-controlled sub-basins covering >20 km of strike across the Rae Group sediments

  • Covers >150 km² within a larger sub-basin (interpreted dimensions exceeding 20 km × 10 km), with anomalies open to the north
  • Target horizon interpreted ~200–300 m below surface; ~4,000 m of diamond drilling planned into the Hulk sub-basin adjacent to STK25001

Herb Dixon Fault Corridor

Stark lies along the Herb Dixon Fault, a major regional structure extending more than 25 km across the project:

  • Stark drilling: 12 m @ 2.45% Cu from 287 m, including 3.5 m @ 7.2% Cu – confirming a high-grade sediment-hosted discovery and ~4.3 km of N–S strike along the Herb Dixon Fault

  • Highly conductive signature over >14 km strike, up to 2.2 km wide, coincident with the structure

  • Traceable to the Vision target, where surface rock-chip assays returned up to 64.02% Cu

Growth Path & Next Steps

  • Follow-up drilling at Stark and Hulk, where mineralisation remains open to the east and north

  • Exploration targets planned for the Rae sedimentary copper areas

  • Ongoing downhole electromagnetic surveys and geophysical refinement across multiple walk-up targets

Source ASX Announcements

Figures in this document are drawn from White Cliff Minerals’ ASX disclosures, including:

Cautionary statement: visual estimates of sulphide abundance are not a substitute for laboratory assay. Where visual observations are referenced, the Company will update the market when analytical results become available. Historic resource and Stark/Vision figures are non-JORC and require verification against the specific source announcement before publication.