Val-d’Or, Québec – October 16, 2024 – Cartier Resources Inc. (TSXV: ECR, FSE: 6CA) (“Cartier” or the “Company”) reports high-grade gold results from drilling exploration at its 100%-owned East Cadillac property.  The latter is located 45 km east of the Val-d’Or mining camp.

Highlights

• The 28,000-m (174 drill holes) drilling exploration program continue to deliver high-grade gold results on the East Cadillac property (FIGURE).

• Multiple high-grade gold intersections over considerable thickness, near surface, form a new gold system at North Contact Sector (Tables1 and 2 below):

• 14.7 g/t Au over 4.3 m included within 5.2 g/t Au over 20.6 m
• 6.3 g/t Au over 4.0 m included within 3.0 g/t Au over 15.0 m
• 5.7 g/t Au over 4.0 m including 15.0 g/t Au over 1.0 m

• Two drill rigs continue to explore high-grade gold targets along the regional Larder Lake – Cadillac Fault Zone.

.

Philippe Cloutier, President and CEO commented 

“The results at North Contact are impressive and in the continuity of VG9, VG10 and East Bateman high-grade gold discoveries. 

 

“This new gold-bearing trend provides us various options generating numerous exploration opportunities to discover one or more gold systems that range from high to moderate gold grade” 

.

.

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Cartier Resources.

.

,

,

Val-d’Or, Québec – Octobre 1, 2024 –  Cartier Resources (TSX.V: ECR, FSE: 6CA) (“Cartier” or the “Company”) announces the deployment of a second drill rig at its 100%-owned East Cadillac property, located 45 km east of Val-d’Or.  This expansion is part of Cartier’s ongoing 28,000-meters drill program targeting high-grade gold sectors.

Highlights

• The second drill is now active, focusing on the recently discovered high-grade gold VG10 Zone and extending exploration along the VG Structure over a 1.5 km strike. Approximately 35 shallow holes are planned.

• The VG10 Zone, discovered in 2023, situated in the centre of East Cadillac, has been drilled successfully in 2024 with 60% of drilled holes contained visible gold. The best previous intercepts include:
• 142.2 g/t Au over 0.5 m
• 137.4 g/t Au over 0.5 m
• 43.2 g/t Au over 1.0 m included within 15.7 g/t Au over 3.0 m
• 30.2 g/t Au over 1.0 m

• The first drill continues testing high-grade gold regional targets across the property.

Philippe Cloutier, President and CEO commented,

“We’re excited to accelerate exploration of high-grade gold zones on East Cadillac with the second drill.

 

“The consistency and grade of the VG9-VG10 Zones have been impressive, and we’re eager to expand their potential.  

“Meanwhile, our first drill continues to deliver encouraging visual results from regional targets.”

.

.

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds  no shares in Cartier Resources.

.

Val-d’Or, March 12, 2024–Cartier Resources Inc.(TSXV: ECR) (“Cartier” or the “Company”) announces the results of its ongoing drilling program for the Chimo Mine Project (FIGURE  2).

The project comprises the Chimo Mine and East Cadillac properties, the latter of which was acquired on April 7, 2022.

Cartier began exploring this new area of the project in 2024.  Both properties are 100% owned by Cartier and are located 45 km east of the Val-d’Or mining camp.

,

Highlights

The results were obtained in the VG Zone at depths of 35 and 45 m, respectively.  High gold grades are also present 275 m to the west and 550 m to the east of the VG Zone, defining the VG Structure along a strike length of 850 m.

Philippe Cloutier, President and Chief Executive Officer commented;

« This third set of high-grade results from the VG Structure since August 2023 puts us on track to start a new drilling phase on the VG Zone to further increase its size and continue the search for other gold zones along the prospective 15 km strike of the project »

.

,

To read the full news release, please click HERE

.

=======

.

Val-d’Or, August 3, 2023– Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) presents an update of the potential for the Chimo Mine Project (“The Project”), comprising the Chimo Mine and East Cadillac properties, the latter of which was acquired in the spring of 2022.  The Project, 100% owned by Cartier, is located at 45 km east of the Val-d’Or mining camp.

The favorable context for discovery of Chimo Mine type gold mineralization,  as defined by Cartier’s work over the past 10 years, occurs along a 15-km long east-south-east – west-north-west oriented strike.

The sector currently contributing to the Project’s recentPEA* andMineral Resource Estimate** occupy a 3.7 km long segment of which represents only 25% of this favorable strike length.

The favorable strike is marked by numerous historical drill hole intersections and several deposits, most only drilled to shallow depths, and all coincident within a string of MegaTEM anomalies.

Philippe Cloutier, President and CEO commented, 

“This 15-km long stretch shows significant potential to increase resources and discover new gold zones on the Project.

 

“Drilling programs are ready and the Cartier’s team is currently reviewing multiple scenarios to rapidly showcase the value of the Chimo Mine Project”

Cartier Cuts 3.2 g/t Au over 15.0 m at Chimo Mine

Highlights of the press release

• West Nordeau Sector / 5N Gold Structure / 5NE2 Gold Zone
• 3.2 g/t Au / 15.0 m including 6.0 g/t Au / 3.0 m
• 2.3 g/t Au / 7.0 m including 6.9 g/t Au / 1.0 m

• West Chimo Mine Sector / 6N1 Gold Structure

• 25.7 g/t Au / 0.8 m
• 6.0 g/t Au / 2.0 m including 11.7 g/t Au / 0.6 m
• 9.6 g/t / 1.0 m

 Philippe Cloutier, President and CEO commented

” Although drilling was suspended on June 2 due to forest fires in Quebec, numerous assay results are still pending from the laboratory.

 

“This suspension of drilling coincides with the achievement of the objectives of the first phase of 25,000 m, located between 100 m and 800 m depths.

 

“The results will be used to carry out the next phase located between 800 m and 1.6 km depths”

Val-d’Or, June 6, 2023– Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces drill hole results from the program that is in progress at the Chimo Mine Project.

The new results are from the West Chimo Mine sector, located between the main underground infrastructures of the Chimo mine and up to 550 m west of them (FIGURE 1)

The Chimo Mine property, which is 100% owned by Cartier, is located 45 km east of the Val-d’Or mining camp.

Highlights of the press release

• Continuity of the 4BW Gold Zone:

• 3.7 g/t Au / 6.0 m including 20.2 g/t Au / 1.0 m
• 1.6 g/t Au / 15.0 m including 22.8 g/t Au / 0.5 m

• New Gold Intersections:

5N Gold Structure:

• 4.5 g/t Au / 5.0 m including 14.7 g/t Au / 1.0 m
• 3.3 g/t Au / 3.0 m including 7.4 g/t Au / 1.0 m

6 Gold Structure:

• 2.5 g/t Au / 13.3 m including 8.9 g/t Au / 0.5 m
• Two drills are currently operating on the property (however, drilling has been temporarily suspended since June 1, 2023 due to intense forest fire activity in Quebec)

.

Philippe Cloutier, President and CEO Cartier Resources stated;

“These drill results in the West Chimo Mine sector clearly reveal the discovery potential of this new exploration sector, adjacent to the underground infrastructures of the Chimo mine.

 

“This sector has limited historical exploration and the gold zones known to date must be drilled further to increase their dimensions in order to optimize the full potential for increasing the resources of the Chimo Mine Project.”

‘’West Chimo Mine’’ Sector(FIGURE 1):

• Continuity below the 4BW Gold Zone

Drilling intersected 3.7 g/t Au over 6.0 m including 20.2 g/t Au over 1.0 m and 1.6 g/t Au over 15.0 m including 22.8 g/t Au over 0.5 m.  These new results, located below the 4BW Gold Zone (FIGURE 1), demonstrate the continuity at depth in order to increase its dimensions and resources.

• New gold-bearing intersections within the 5N Structure

Drilling intersected 4.5 g/t Au over 5.0 m including 14.7 g/t Au over 1.0 m and 3.3 g/t Au over 3.0 m including 7.4 g/t Au over 1.0 m.  These new results, located 300 m west of the Chimo mine underground infrastructures, add to the historical results of 1.3 g/t Au over 13.7 m (Drill Hole 175-108) and 1.7 g/t Au over 7.8 m (Drill Hole 01-84-64) outlining the occurrence of a potential new gold zone.

• New gold-bearing intersections within the 6 Structure

Drilling intersected 2.5 g/t Au over 13.3 m including 8.9 g/t Au over 0.5 m. These new results, located 350 m west of the Chimo mine underground infrastructures, add to the historical results of 1.6 g/t Au over 7.1 m including 5.1 g/t Au over 0.5 m (Drill Hole 07-87-32) in the 6 Gold Structure.

The geometry of the Chimo Mine gold system should present a certain symmetry on either side of the main mineralized sector, called the Main Chimo Mine sector. (FIGURE 1).  These drill results suggest the development of good discovery potential in the West Chimo Mine sector, which is located near the Chimo mine infrastructure and which has been very little explored to date.

.

To read the full news release, please click HERE

.

.

If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Cartier Resources

To read our full terms and conditions, please click HERE

Val-d’Or,Québec, May 9,2023– Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces that it has closed its previously announced private placement (the “Private Placement”) for aggregate gross proceeds of $204,000.

1,457,143 common shares of Cartier (each, a “Common Share”) were issued at a price of $0.14 per Common share. Agnico Eagle now owns approximately 15.55% of the issued and outstanding Common Shares on a non-diluted basis and 17.33% of the issued and outstanding Common Shares on a partially-diluted basis.

The proceeds from the Private Placement are expected to be used for exploration at Cartier’s Chimo Mine project in the Val-d’Or Mining Camp in Quebec.

The securities issued under the Private Placement will be subject to a four (4) month statutory hold period.

About Cartier Resources

Cartier Resources Inc. was founded in 2006, and is an exploration company based in Val-d’Or.

Cartier’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Chimo Mine project and actively exploring its other projects.

Cartier has a solid cash position exceeding $4.0M and significant corporate and institutional supports, notably with Agnico Eagle, O3 Mining and the Quebec investment funds.

Highlights of press release(FIGURE 1):

New 5BW Gold Zone (‘’West Chimo Mine’’ Sector):

16.8 g/t Au / 1.0 m, 6.0 g/t Au / 1.0 m and 1.2 g/t Au / 16.0 m

New 6N1W Mineralized Zone (‘’West Chimo Mine’’ Sector):

13.2 g/t Au / 0.5 m and 6.0 g/t Au / 1.0 m within 42.0 m grading 0.9 g/t Au

New intersections increasing the dimension of gold zones of ‘’East Chimo Mine’’ Sector:

13.0 g/t Au / 1.0 m, 9.7 g/t Au / 1.0 m included in 6.5 g/t Au / 2.0 m

Two drills are currently operating on the property

Reminder of the highlights of project:

• Recentpositive Preliminary Economic Assessment*(FIGURE 2):
• Post-Tax NPV_5%of CAD$388M and 20.8% IRR

Longterm gold price of US$1,750/oz, Exchange rate of CAD $1.00 = US $0.77

Paybackperiod of 2.9 years and mine life of 9.7 years

Capex of CAD$341M, average all-in sustaining cost of US$755/oz

Averageannual production of 116,900 oz at a milled average of 4.6 g/t Au

• Recent Mineral Resource Estimate**(FIGURE 3):
• 720,000ounces of gold in the indicated resource category
• 1,633,000 ounces of gold in the inferred resource category

‘’West Chimo Mine’’ Sector(FIGURE 1):

• The New 5BW Gold Zone, that is comprised of values such as 16.8g/tAu/1.0m, 6.0g/tAu/1.0 m and 1.2 g/t Au / 16.0 m (PHOTO 1), is situated at 100 m west of Chimo mine drifts between depths of 75 m and 350 m (Table 1).  Two holes were drilled between depths of 150 m and 350 m, which assays are pending, in order to explore the vertical extension.

• The New 6N1W Mineralized Zone, is comprised of values such as 13.2g/tAu/ 0.5m and 6.0g/tAu/1.0 m included in 3.3 g/t Au / 5.0 m; all of which are included in a wider interval of 42.0m grading 0.9 g/t Au (PHOTO 2).  This new zone is situated only 50 m west of Chimo mine drifts between depths of 450 m and 600 m.  These drill hole results add to the historical results presented in table 2 below.  One drill hole is currently in progress in order to explore the vertical extension of the zone between depths of 600 m and 835m.

The geometry of the Chimo Mine Gold System should show a certain symmetry either side of the main mineralized sector of the project currently known as the ‘’Chimo Mine’’ Sector.  These first drill results, already suggest the development of a good discovery potential in the ‘’West Chimo Mine’’ Sector, which is situated proximal to the Chimo mine infrastructures and which have been little explored to date.

.

.

.

Val-d’Or, February 14^th, 2023 – Cartier Resources Inc. (TSX.V: ECR) (“Cartier”) announces drill results in the East Chimo Mine Sector, located at the midpoint of 450 m between the Chimo Mine and West Nordeau sectors (FIGURE 1).

The results are located on the Chimo Mine Property, 100% owned by Cartier, which is located 45 km east of the Val-d’Or mining camp.

The results for the current drilling program in the East Chimo Mine Sector expand dimension of the gold zones as follows:

• In the 5NE Gold Zone, drilling intersected 5.2 g/t Au over 4.0 m including 16.5 g/t Au over 0.5 m. This intersection increases the length of Zone 5NE by 320 m, which now has a total length of 1,150 m.

• In the 5BS Gold Zone, drilling intersected 3.9 g/t Au over 6.9 m including 9.0 g/t Au over 1.0 m. This intersection increases the length of Zone 5BS by 110m, which now has a total length of 350 m.

• Detailed results are presented in the table below.

« The results confirm the continuity of the mineralization of the gold zones of the East Chimo Mine Sector, which is in line with the goal of this drill program to increase the resources on the project » commented Philippe Cloutier, President and CEO.

The Chimo Mine Project now consists of 29 gold zones that are situated within 19 gold structures, drilled over a strike length of 3.7 km and locally up to a depth of 1.6 km (FIGURE 2) where the recent mineral resource estimate, dated August 22, 2022*, reported:

• 7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and;

• 18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category.

* NI 43-101 Mineral Resources Estimate for Chimo Mine and West Nordeau Gold Deposits, Québec, Canada, Vincent Nadeau-Benoit, P.Geo., Alain Carrier, P.Geo., M.Sc. and Marc R. Beauvais, P.Eng., InnovExplo Inc., August 22^nd, 2022.

,

.

To read our full terms and conditions, please click HERE

Val-d’Or, January 24^th, 2023 – Cartier Resources Inc. (TSX.V: ECR) (“Cartier”) announces drill results below the West Nordeau deposit of the Chimo Mine Gold System (FIGURE) from its ongoing drilling program on the Chimo Mine property and contiguous East Cadillac property. Both properties, 100% owned by Cartier, are located 45 km east of the Val-d’Or mining camp.

The results available from the laboratory to date for the current drilling in the West Nordeau Sector are as follows:

• In the eastern part of the West Nordeau deposit (5NE2 Gold Zone), drilling intersected 4g/t Au over 6.5 m included within broader sections grading 2.3 g/t Au over 23.0 m and 2.1 g/t Au over 14.0 m (FIGURE).

• In the western part of the West Nordeau deposit (5NE1 Gold Zone), drilling intersected 3g/t Au over 1.0 m included within an interval grading 2.4 g/t Au over 5.6 m (FIGURE)

.

Philippe Cloutier, President and CEO of Cartier Resources commented;

“These results confirm the continuity of the mineralization below the West Nordeau deposit, with a view of extending exploration, to define additional resources to the same depth as in the Chimo Mine and East Chimo Mine sectors.

 

“The depth extension of the West Nordeau sector is important to add resources to the project. 

The Chimo Mine Project now consists of 29 gold zones that are situated within 19 gold structures, drilled over a strike length of 3.7 km and locally up to a depth of 1.6 km  where the recent mineral resource estimate, dated August 22, 2022*, reported:

.

To read the full news release, please click HERE

.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Cartier Resources.

.

.

.

.

Val-d’Or, August 16, 2022 – Cartier Resources Inc. (TSX.V: ECR) (“Cartier”) announces the launch of the fourth phase of drilling at the Chimo Mine Project, located 45 km east of Val-d’Or. This program, planned with 2 drills over a period of 13 months, consists of 25,000 m of controlled directional drilling. 

The program aims at increasing the resources of the Chimo Mine Project and the Nordeau Ouest deposit, as well as the potential to discover new gold zones ( See figure 1).

.

Highlights :

• Fourth phase, 25,000 m drill program in progress at theChimo Mine Gold System(FIGURE1) which includes the recent acquisition of the Nordeau West deposit;

• NI 43-101 Resource Estimate in progress for Nordeau West deposit, situated 450 m from the Chimo Mine Project NI 43-101¹resources;

• NI 43-101 Preliminary Economic Assessment (‘’PEA’’) in progress on the combined resources of the Mine Chimo Project and Nordeau West deposit that will provide increased flexibility to further strengthen the economics of the Chimo Mine Project.

.

The recent acquisition of the East Cadillac project integrates all the gold intersections discovered to date form the Chimo Mine Gold System, which is currently known to extend over a distance of 10 km along the Larder Lake – Cadillac fault.

The current drilling program explores a 3.7 km segment peripheral to the underground infrastructures of the Chimo Mine, closed at the beginning of 1997 (FIGURE 1).

Philippe Cloutier, President and CEO of Cartier Resources commented.

“Drilling will intersect 4 of the 19 targeted gold-bearing structures at approximately 100 different locations within the Chimo Mine Gold System, as well as additional structures that could reveal new gold-bearing zones.”

Surveying of Nordeau West drill holes in July 2022, along with the NI 43-101 Resource Estimate of the deposit, will optimize the position of the drill holes in order to increase the resources over the first 800 m depth.

The results of this work will be used to design the drilling pattern at depth below the 800 m, which holds significant discovery potential (See HERE).

The results of efforts deployed primarily on work for the drill program and resource estimates were aimed at being rapidly integrated in the preliminary economic studies of the Chimo Mine Project to demonstrate its economic viability.

.

For brevity, this summary has been redacted, to read the full news release, please click HERE

.

.

=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.Disclosure

The writer currently holds no shares in Cartier Resources.

.

Val-d’Or,February 28,2022– Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce the execution of a non-binding letter of intent (the “LOI”) for the acquisition by Cartier of all of the issued and outstanding shares of Chalice Gold Mines (Québec) Inc., a wholly-owned subsidiary of O3 Mining (TSX: OIII), which owns a 100% interest in the East Cadillac property contiguous with Cartier’s Chimo Mine property in the Val-d’Or Gold Camp, Quebec, Canada (the “Transaction”).

The Transaction is subject to due diligence, corporate and regulatory approvals, completion of the review of definitive documentation and other customary closing conditions.

Cartier will now work to complete its due diligence review, negotiate and enter into definitive agreements and obtain all required stock exchange approvals. For the time being, the LOI remains non-binding and may or may not result in definitive agreements being executed or regulatory approvals being obtained.

The purchase price payable by Cartier to O3 Mining is approximately 46.2 million common shares of Cartier (“Cartier Shares”). Upon completion of the Transaction, O3 Mining is expected to own approximately 17.5% of the issued and outstanding Cartier Shares.

Transaction Highlights: Consolidation of Cartier’s Chimo Mine property with O3 Mining’s East Cadillac property for a total land position of 29,754 hectares of highly prospective ground in the eastern part of the prolific Val-d’Or gold camp (the “Project”), refer toFigures 1 and 2.

Advantages: Eliminates boundaries, increases resource and potential for additional ounces, Increased flexibility to strengthen project economics and favor project development and its construction:

• Cartier will hold 100% interest in largest land position east of Val-d’Or:
  • Immediate increase of the resource base to 714,400 oz in the indicated category and 1,527,400 oz of gold in the inferred category (refer tonote 1);
  • Initial budget designed to increase resources and explore additional potential;
  • Significantly increases exploration territory and potential for new discoveries
• Enhanced capital markets profile and exposure;
• Platform for further district consolidation;
• New partnership formed with O3 Mining

note 1: The Resources are presented as described in the technical report titled “NI 43-101 Technical Report and Mineral Resource Estimate for the Chimo Mine Project, Quebec, Canada, Christine Beausoleil, P. Geo. and Claude Savard, P. Geo., InnovExplo Inc., March 2021” as well as in the Technical Report titled: “2019 Technical Report & Mineral Resources Estimate : East Cadillac Gold Project, Val-d’Or, Québec, John Langton, P. Geo., Vincent Jourdain, P. Eng., MRB & Associates, April 30^th2019”.

The LOI provides that in connection with the Cartier Shares being issued to O3 under the Transaction, Cartier and O3 Mining will enter into an investor rights agreement (the “Investor Rights Agreement”) pursuant to which O3 Mining will be entitled to designate one director for appointment to the board of directors of Cartier. The Investor Rights Agreement will also include, among other things, pre-emptive and top-up rights in favour of O3 Mining, a standstill provision for a period of 2 years and a share transfer restriction provision effective for a period of 3 years.

Promptly following closing of the Transaction, a technical committee will be formed and comprised of one (1) nominee of Cartier and one (1) nominee of O3 Mining with a purpose to provide strategic advice and guidance to Cartier on exploration and development activities for the Project, and provide a forum for Cartier and O3 Mining to share their views on the exploration, development and advancement of the Project.

.

“The acquisition provides Cartier with largest land holding along the prolific Larder Lake – Cadillac Fault east of Val-d’Or as well as a solid resource base with significant growth potential.

“The Simon West, Nordeau West and Nordeau deposits, immediately adjacent to the gold resources of the Chimo Mine property, provide short term targets to significantly increase our gold resources.”

Philippe Cloutier, CEO of Cartier Resources

.

.

“O3 Mining is pleased to have entered into this agreement with Cartier Resources, which furthers our strategy of deriving value from certain of our exploration assets while retaining exposure to the upside as significant shareholder.

 

“This divestment is part of our go-forward strategy of finding strategic buyers for certain of our assets, who have strong management teams and are well-capitalized and technically strong operationally.

 

“We look forward to partnering with Cartier’s management team, through our board representation, and being part of Cartier’s growth story through our participation on the Technical Committee”.

José Vizquerra, President and CEO of O3 Mining

Val-d’Or, November 26, 2021– Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the results of Abitibi Geophysique Inc.’s InfiniTEM® XL geophysical survey and subsequent drilling on the Benoist property, located 65 km northeast of Lebel-sur-Quévillon, Quebec, Canada.

The programs aimed to further develop the potential of the project following the results of the first NI 43-101 resource estimate¹, published on January 29, 2021.

1: Cartier files on SEDAR the NI43-101 technical report of the mineral resource estimate of the

Pusticamica Gold Deposit on the Benoist property, InnovExplo Inc., MM. Beausoleil and Savard, January 28 2021.

The surface geophysical survey and geophysical surveys carried out in the drill holes, outlined a zone of anomalous conductance associated with the presence of weakly conductive mineralization, peripheral to the Pusticamica deposit over a strike length of 3.0 km and 350 m wide, located under Lake Pusticamica.

The drill program, carried out between January 5 and September 30, 2021, consisted of 27 holes for a total of 17,000 m.

The two phases of the program are as follows:

• 10 holes were drilled along the lateral extension of the Pusticamica gold deposit within the anomalous conductance zone to explore its gold potential with a view to discovering new deposits. The drill holes tested beneath Lake Pusticamica at depths between 150 m to 500 m (FIGURE 3), 85% of the surface of the currently known potential gold corridor with an average spacing of 200 m.

• 17 deep holes were completed along the depth extension of the Pusticamica gold deposit, between 700 m and 1,300 m (FIGURE 3), with the objective of increasing the size of the deposit and/or discovering new gold zones. The resources¹of the Pusticamica Gold deposit include 134,400 oz Au in the indicated category and 107,000 oz Au in the inferred category.

• All of the drill holes beneath the Pusticamica deposit intersected sulphides and alteration Zone (FIGURE 4) over an area 1,400 m in length (dipping 60 degrees towards the southwest) by 300 m in width with thicknesses estimated between 21 m to 39 m with weighted average grades respectively of 0.66 g/t Au and 0.40 g/t Au.

• Additional drill results are pending.

Cartier Resources management comments

“The Benoist mineralized system, as demonstrated by the recent drilling, is present over a strike-length of 3 km, attains widths of 350 m and reaches a depth of 1 300 m and is still open.

 

” It includes the resources¹of the Pusticamica deposit.  However, the 2021 drilling did not identify additional high-grade zones.

 

” We continue to receive results and will re-appraise the Benoist project potential at the completion of all drilling data”

Philippe Cloutier, President and CEO.