Mayo Lake Minerals Inc. provided an operational update on preparations for its 2026 field season. Operational Status: Contractor Negotiations and Mobilization: Following the Company's previously announced programs, Mayo Lake is exploring, the availability of drilling, trenching, and logistics companies in order to finalize timing and contracts. One on one meetings with various contractors were initiated at the AME Roundup in Vancouver in late January with timelines to be announced once contracts are finalized.
Regional Context: Tombstone Gold Belt and Mayo-Keno area. The Mayo-Keno area lies within the Tombstone Gold Belt (TGB), a prolific corridor hosting intrusion-related and epizonal mineralizing systems, including Reduced Intrusion-Related Gold Systems (RIRGS), high-grade silver veins, skarns, and polymetallic vein systems. Recent discoveries and resource expansions across the district have increased exploration activity and investor interest.in the TGB. Notable nearby resources include: Banyan Gold: AurMac deposit with reported pit-constrained Indicated resources of 2.27 M oz Au (112M t at 0.63 g /t) and Inferred resources of 5.45 Moz Au (260.0M t at 0.60 g/t).
Sitka Gold: Blackjack and Eiger deposits with Indicated resources of 1.29 M oz Au (40.0M t at 1.01 g/t) and Inferred resources of 1.18 M oz Au (612.0M t at 0.75 g/t). Victoria Gold: Eagle and Olive deposits with Measured & Indicated resources of 4.66 Moz Au; Raven Deposit with Inferred resources of 1.07 Moz Au (19.9Mt at 0.59 g/t). Hecla Mining: Silver.
Proven and Probable reserves of 64.4M oz Ag (2.64M t at 24.3 oz Ag/t) plus Inferred resources of !9.24M oz Ag (1.3M at 14.8M oz Ag/t) as of Dec.31,2024. Production is ongoing at Keno Hill. Snowline Gold: Rogue Project; Measured & Indicated resources: 7.44 Moz Au (204M t at 1.21/t) and Inferred resources of 0.89M oz Au (44.5M t at 0.62 g /t).
Banyan, Sitka, Snowline and Hecla all have strong market support. Victoria is currently under bankruptcy protection and is now for sale with a restart of full production expected once a purchase is finalized. These district-scale results support continued exploration across the belt and provide geological context for Mayo Lake's 2026 exploration program.
Mayo Lake Project Portfolio- totals 145.6 km² and reflects the district's multi-commodity potential. Project 1- Silver Flagship-Carlin-Roop (44 km²): Targeting Keno-style high-grade silver; the Carlin West prospect exhibits geological characteristics comparable to historic high-grade deposits in the district. Project 2- Gold Flagship- Anderson-Davidson (86 km²): Hosts the Anderson Gold Trend (48sq.
km.), where more than 10 km of linear gold-in-soil anomalies have been outlined which are interpreted as the surface expressions of subsurface gold veining and at depth intrusion-related mineralization. Project 3- Diversified Metals Flagship- Edmonton (15 km²): A broad magnetic low combined with anomalous gold, silver, and base-metal geochemistry and positive SGH signatures suggest a buried intrusion with multi-element potential.
