Work Advancing on Chibougamau’s Mont Sorcier Iron/Vanadium Royalty Property

Core Insights - Chibougamau Independent Mines Inc. is highlighting updates from Cerrado Gold Inc. regarding the Mont Sorcier Iron/vanadium project, which is located near Chibougamau, Quebec [1][4] Project Update - The Mont Sorcier project is undergoing detailed metallurgical test work and flow sheet design, with an infill drill program initiated to update resources to Proven and Probable categories for ongoing feasibility [2] - Assay results from the drilling program are still pending [2] Feasibility Study - A Bankable Feasibility Study is being conducted to provide detailed insights into the project's potential, building on the previous 2022 NI 43-101 Preliminary Economic Assessment (PEA) that indicated a project NPV at 8% of US$1.6 billion based on iron concentrates with 65% iron content [3] - Improved metallurgical results suggest the potential to produce a high purity DRI grade iron ore concentrate exceeding 67% iron, which could enhance project value and support the Green Steel transition [3] Royalty Information - Chibougamau Independent Mines holds a 2% Gross Metal Royalty on iron and vanadium production from the Mont Sorcier property [4]