Wolverine Resources Corp. in partnership with Rich Resources Inc, has acquired 9,587 hectares through staking of 3 licenses (384 claims) to expand its critical minerals rare earth element (REE) presence in Labrador. The new property package, named The Hook property, is located 60 km south-southwest of the Voisey's Bay mine owned and operated by VALE and 26 km south-southwest of the Frog property, also jointly held by Wolverine and Rich Resources Inc. The nearest communities include Nain and Natuashish, located approximately 90 km away. The Hook property is an early-stage project that historically has never had work done on it. It was acquired based on government regional geophysics and lake sediment sampling. A total of 8 lake sediments were taken on the property with analytical results averaging 0.114% TREE (total rare earths sampled for). These are focused along a 9 km long linear magnetic anomaly. Both the Frog and the Hook properties are situated in strategic locations along a 175 km corridor extending from Quebec to the Atlantic Ocean that is hosted by granitic rocks containing monazite
mineralization. To date 4 REE deposits have been identified along the REE belt in Labrador including the Strange Lake, Ytterby 2 + 3, and Flowers River deposits. Wolverine intends on conducting aggressive exploration programs for REEs on both the Frog and The Hook properties in 2024, beginning with airborne radiometrics and magnetics followed by prospecting and drill testing. Drill testing has already been approved for the Frog property by the Ministry of Mines.