Osawi Gold Corp. formed to advance Callinex's Gold Exploration Portfolio in Manitoba

Core Viewpoint - Callinex Mines Inc. has established a wholly-owned subsidiary, Osawi Gold Corp., to focus on advancing its gold projects in Manitoba, specifically the Gossan Hill and Island Lake Gold Projects, while maintaining its core operations in base and precious metals [2][3][17]. Group 1: Company Strategy - The formation of Osawi Gold Corp. aims to maximize the value of Callinex's high-grade gold exploration assets in Manitoba [3][17]. - The company intends to explore strategic initiatives that will enhance shareholder value without dilution [17]. - Osawi Gold Corp. is positioned to capitalize on the current and foreseeable gold market, creating prosperity for stakeholders [3][17]. Group 2: Gossan Hill Gold Project - The Gossan Hill Gold Project spans 2,935 hectares and includes the historic Gurney Gold Mine, which produced 25,164 ounces of gold at an average grade of 8.64 g/t from 1937 to 1939 [4][8]. - The project features a high silver-to-gold ratio of 2.86:1, indicating potential for significant silver production alongside gold [4]. - Historical drilling results show promising gold mineralization, with multiple gold zones identified within quartz veining along a 5km shear zone [6][8]. Group 3: Island Lake Gold Project - The Island Lake Gold Project covers approximately 40,000 hectares and has a significant potential for high-grade gold discovery [11]. - The project includes the historic Ministik deposit, which has a reported historic resource of 166,439 ounces of gold at a grade of 0.39 oz/ton (13.37 g/t) [13]. - There has been no exploration on the main vein of the Ministik deposit since 1987, indicating potential for future resource development [12][18]. Group 4: Community Engagement - Osawi Gold Corp. is committed to building a working relationship with the Garden Hill First Nation, emphasizing respect and alignment with community values [15][16]. - The company prioritizes responsible stewardship and aims to ensure that exploration activities align with the rights and aspirations of the First Nations [16].