Drill Core Sampling Identifies Gold Upside

3 March 2025

Landore Resources Limited

2024 Infill Drill Core Sampling Programme Identifies Gold Upside at

Junior Lake

London, United Kingdom - 3 March 2025 - Landore Resources Limited (AIM: LND) ("Landore Resources" or the "Company") is pleased to announce the results of its 2024 infill drill core sampling programme on selected historic drill holes on its flagship BAM Gold Deposit ("BAM Gold" or "BAM") and Lamaune Gold Exploration Target ("Lamaune Gold"), at the Junior Lake property, Ontario, Canada.

During late Autumn 2024, a significant infill drill core sampling programme was conducted at Junior Lake involving the collection of 930 drill core samples, exclusive of control samples, from a total of 29 drill holes spanning 8.5 kilometres from the BAM Gold Deposit to the Lamaune Gold Exploration Target located west north-west of BAM.

Highlights:

·        2024 drill core sampling successfully (i) infilled previously unsampled intervals in order to strengthen the Company's BAM Gold mineralisation model; (ii) tested specific lithologies for gold potential; and (iii) followed up on projected mineralisation.  

·        These latest results, together with historic infill sampling conducted in 2023, indicate significant gold potential within the gabbroic lithological unit, which comprises the southern flank of BAM Gold.

·        Drill core sampling at Lamaune Gold, located approximately 8.5 kilometres along strike west north-west of BAM Gold, has identified anomalous gold values in previously unsampled core; indicating potential for additional mineralisation.

·        A new 3,500-metre drilling programme is scheduled to commence on BAM Gold in early March 2025, focusing on providing greater clarity on the structure of the orebody, increasing the overall confidence in the grade, size and continuity of the resource, as well as testing the considerable down-dip potential of BAM Gold.

Commenting on the results, Landore Resources' CEO, Alexander Shaw, said:

"I am most encouraged by these latest sampling results from BAM Gold, which, once again, clearly demonstrate the enormous potential of our flagship asset at Junior Lake. The 2024 infill drill core sampling results indicate significant gold potential within the gabbroic lithological unit located at the southern flank of the deposit, which supports similar findings in 2023. Previous core samples taken at Lamaune Gold, located just 8.5km along strike from BAM Gold, also indicate potential for additional mineralisation.

"Our exploration team looks forward to commencing the new targeted 3,500m drilling programme this month as we fast track BAM Gold's development ahead of updating the mineral resource estimate later this year and then updating the 2020 PEA to a Pre-Feasibility Study (PFS) to reflect the currently elevated global gold price. I look forward to providing further updates as the BAM story continues to develop and flourish going forward."

To view an additional video by Alexander Shaw, and the chance to have your questions directly answered by the management team, please head to our interactive investor hub via: https://investors.landore.com/link/LeoNMy.

2024 INFILL DRILL CORE SAMPLING PROGRAMME, JUNIOR LAKE PROPERTY

Landore Resources' geological team completed an infill drill core sampling programme during November and December 2024 on 27 existing drill holes from BAM Gold and two existing drill holes from Lamaune Gold, located approximately 8.5 kilometres along strike west north-west from BAM Gold.

The BAM Gold portion of the 2024 programme comprised 653 drill core samples (exclusive of control samples) and successfully tested BAM Gold's modelled ore lenses, provided infill sample data to strengthen the existing resource model, and followed up on projected mineralisation through prospective lithologies. Infill sampling has reaffirmed the considerable gold potential of the Grassy Pond Sill gabbros, with inconspicuous shears and deformation zones being of particular interest. Drill results to-date have indicated that intervals of gold can range from sub-one metre to multiple metres in width.

The 2024 results compliment historic infill drill core sampling conducted in 2023 within and immediately south and west of BAM Gold's proposed western pit, which revealed several anomalies including 7.59g/t gold over 0.93 metres in drill hole 0418-675, representing gold potential to be further assessed by drilling.

At Lamaune Gold, the infill programme comprised sampling the entirety of two historic drill holes for 277 samples. The sampling tested the reproducibility of the earlier gold assays at Lamaune Gold, investigated potential grade optimisation through utilising a 1.0m sample size, as well as testing previously-unsampled intervals.

A full report on the 2023 and 2024 infill drill core sampling programmes has been prepared by the Company entitled '2023 & 2024 Infill Drill Core Sampling, Junior Lake property' dated 24 February 2025 (the "2023/2024 Report"), which can be viewed on the Company's website at www.landore.com.

Key Extracts from the Summary Section of the 2023/2024 Report are as follows:

"In 2023 and 2024, infill drill core sampling programmes were conducted on the BAM Gold (Au) Deposit and the Lamaune Au Prospect, within the Junior Lake Project. During the two programmes 86 drill holes were sampled for a total of 1,913 samples, plus CRMs. Of the samples, 983 were analyzed in 2023 (392 from the BAM Au Deposit, 591 from the Lamaune Au Prospect) and in 2024, 930 samples were analyzed (653 from the BAM Au Deposit and 277 from the Lamaune Au Prospect). Samples were submitted to ALS Global for 50g ore grade fire assay and multi-element ICP-MS.

The 2024 programme was designed with two main objectives: 1) To test portions of the 2022 BAM Au resource model completed by Cube Consulting Pty Limited and infill data gaps to strengthen the model; and 2) Verify the original gold assays within the Lamaune Au Prospect and infill previously unsampled drill core. The 2023 sampling programme was designed with two different purposes: 1) To provide flanking samples to all anomalous gold (>0.1 g/t Au) values within the BAM Au drilling not already shoulder-sampled; and 2) Test previously unsampled, favourable lithologies in the Lamaune Au area.

The infill drill core sampling programmes are considered a success. The programmes confirmed several theories about the gold mineralisation within the BAM Au Deposit, identified a limited number of significant (>0.5 g/t) gold assays, and most importantly, the additional assays will help support a more robust and stronger resource model. In addition, the sampling on the Lamaune Au Prospect identified numerous anomalous gold (>0.1 g/t) samples in previously unsampled drill core and validated the original assays. Additional work is required to verify the reproducibility between the original and current assays."

Operational Update

The Company will proceed with a new 3,500-metre drilling campaign at the BAM Gold Project in early March 2025, designed to provide greater clarity on the structure of the ore body, prove the validity of the block model and increase overall confidence in the grade, size and continuity of the resource, as well as testing the considerable down-dip potential of BAM Gold.

The results from such drilling will be used to update the existing BAM Gold Mineral Resource Estimate ("MRE"), which will, in turn, support the Company's plans to proceed with preparation of a pre-feasibility study expected to commence in late 2025.

Junior Lake Property

The Junior Lake Property, 100% owned by Landore Resources, together with the contiguous Lamaune Iron property (90.2% owned) (jointly the "Junior Lake Property"), consisting of 22,037 hectares, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay and is host to: the BAM Gold Deposit; the B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit; the VW Nickel-Copper-Cobalt Deposit; the Lamaune Gold Prospect and numerous other precious and strategic metal occurrences.

Michele Tuomi, (P.Geo., BSc. Geology), Director/CEO of Landore Resources Canada Inc. and a Qualified Person as defined in the Canadian National Instrument 43-101 and with respect to the AIM Rules for Companies, has reviewed and verified all scientific and technical mining disclosures contained in this announcement.

- ENDS -

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About Landore Resources

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM Gold Project, Northwestern Ontario, Canada, which has an NI 43-101 compliant resource estimate of 1.5m oz Au (Indicated: 1.03m oz from 30.96Mt @ 1.0g/t; Inferred: 467,000oz from 18.3M/t @ 0.8g/t). Ontario is Canada's largest gold producing province, and produced 3.9m oz, accounting for 41% of Canada's total gold production in 2023. Landore Resource's strategic objective is to crystallise value from BAM Gold's last estimated NPV of US$333.6m @ US$1,800/oz spot (from May 2022 PEA), as well as generating additional value from its non-core portfolio of precious and battery metals projects in eastern Canada and the USA.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.