Reward Minerals Highlights Strong Gold-Copper Potential at Mountain Pond Project Ahead of September Drilling

Significant Exploration Achievements at Mountain Pond Project, Newfoundland

Reward Minerals is actively advancing exploration at its Mountain Pond Project, situated in central northern Newfoundland, approximately 530 kilometers northwest of St. John’s. The project spans 41 contiguous claims covering roughly 10 square kilometers. Recent efforts have concentrated on confirming and expanding known mineralisation zones, especially at the Jackpot Prospect, which has yielded encouraging outcomes. Extensive rock chip sampling has produced high-grade assay results, affirming the project's potential for gold and copper extraction.

Assay results from the Jackpot Prospect reached up to 8.16 grams per tonne (g/t) gold and 1.77% copper, underscoring significant mineralisation potential. These findings bolster the company’s ongoing initiatives to validate the Mountain Pond Project’s viability as a major mining operation. The forthcoming drilling program aims to further explore these promising zones and evaluate the mineralisation’s depth extensions.

Maiden Drilling Program Set for September Quarter

Reward Minerals is gearing up to launch its maiden drilling program at Mountain Pond in the September Quarter, a crucial phase in its exploration strategy. This program intends to test the depth extensions of mineralisation identified at the Jackpot Prospect. The company reports that site access clearing and drilling permit applications are nearing completion, facilitating timely commencement of drilling activities.

The drilling initiative is expected to deliver valuable insights into the Mountain Pond Project’s potential. Investors will closely watch the drilling outcomes, which could significantly impact Reward Minerals’ future exploration and development trajectory. These results will be instrumental in assessing the project’s economic feasibility and guiding subsequent exploration efforts.

Positive Soil Sampling Results at Bingo Prospect

Alongside progress at the Jackpot Prospect, Reward Minerals completed an extensive soil sampling program at Mountain Pond. Initial results revealed a notable high-grade gold assay of 1.55 g/t Au from the Bingo Prospect, located just 400 meters along strike from Jackpot. This discovery enhances the area’s exploration potential.

The encouraging findings at Bingo suggest additional mineralisation opportunities near Jackpot. Reward Minerals plans to prioritize further geological investigations at Bingo, potentially identifying new drilling targets. This continued exploration is vital for defining the Mountain Pond Project’s overall resource potential.

Strategic Collaborations with Global Investors

Reward Minerals is actively engaging global strategic investors across sectors such as solar salt, fertilizer, seawater desalination, and chemicals. The company is advancing discussions on integrating its proprietary processing technologies and potash processing plant into existing and planned developments. These partnerships aim to enhance operational capabilities and expand market reach.

By sharing technical data and fostering collaborations, Reward Minerals demonstrates its commitment to value creation. Leveraging its expertise in potash processing and mineral development, the company seeks to establish itself as a key player in the global market for premium potassium sulfate (SOP) fertilizer and other valuable brine-derived by-products.

Optimistic Long-Term Outlook for SOP Demand and Pricing

Reward Minerals maintains a positive outlook on the long-term demand and pricing for SOP, a vital fertilizer component. Equipped with sought-after processing technology, the company aims to become a globally competitive, low-cost producer of high-quality SOP fertilizer. This goal aligns with rising interest in sustainable agriculture and efficient nutrient solutions.

With global population growth driving increased fertilizer demand, especially for products that boost crop yields while reducing environmental impact, Reward Minerals is well-positioned to meet evolving agricultural needs through its proprietary technologies and operational efficiencies.

Value Creation Opportunities at Beyondie Potash Plant

Beyond its Newfoundland exploration, Reward Minerals explores value creation at the Beyondie Potash Plant. The company identifies significant potential in extracting high-purity potassium sulfate, magnesium compounds, and other valuable by-products from brines currently discarded by the solar seawater salt industry. This strategy could utilize existing infrastructure and logistics to add products at relatively low incremental costs.

The Beyondie Potash Plant offers Reward Minerals a chance to enhance production capabilities and diversify revenue streams by maximizing resource utilization and promoting sustainable industry practices.

Financial Summary and Exploration Spending

During the quarter, Reward Minerals reported approximately $102,000 in exploration expenditure, mainly for low-level exploration activities and tenement holding costs. This spending reflects the company’s dedication to advancing exploration while managing financial resources prudently. No specific revenue or financial metrics were disclosed in this update, though the company continues evaluating commercial options to unlock value from its Western Australian exploration assets.

Reward Minerals confirmed that no mining development or production occurred during the quarter, emphasizing its focus on exploration to build a strong project pipeline for future shareholder value. Investors will be eager to see how these exploration efforts translate into concrete results in upcoming quarters.