Champion Bear Resources Awards Drilling Contract for Plomp Farm Pit Study and NI 43-101 Update

Drilling Program Targets Deeper Mineralization and Pit Characteristics

The planned drilling by Champion Bear is designed to explore deeper mineralization beneath the slough area at Plomp Farm and to extend previous test hole investigations. This program aims to enhance geological understanding of the Plomp Farm Main Zone and support updated three-dimensional geological modelling. The pit study will evaluate the geometry, continuity, depth potential, and open-pit mining characteristics of the mineralization within the Plomp Farm system.

This drilling initiative marks a strategic step forward for Champion Bear in expanding its technical database. The company intends to integrate the results into a modern geological interpretation and, where data permits, update the mineral resource estimate in compliance with Canadian securities regulations and National Instrument 43-101 standards.

NI 43-101 Update Timeline and Conditions

Subject to drilling completion, assay validation, geological modelling, technical review, and Qualified Person approvals, Champion Bear expects to finalize the updated NI 43-101 technical report by approximately August 15, 2026. Specific details regarding drilling meterage, program scheduling, and the drilling contractor remain undisclosed at this time. Additional information will be provided as these details are finalized and approvals obtained.

The projected timeline reflects an accelerated schedule for delivering updated technical documentation. The completion date remains conditional on operational and technical prerequisites, including receipt of validated assay data and completion of geological modelling.

Plomp Farm’s Mineral Potential and Historical Exploration Highlights

Champion Bear characterizes Plomp Farm as an Archean lode gold and gold-rich volcanogenic massive sulphide prospect. Located within the Thunder Lake assemblage stratigraphy, the project includes the Plomp Farm Main Zone, where gold mineralization is associated with pyrite and elevated silver and base metals such as copper, zinc, molybdenum, and barium.

Historical drilling has produced notable intercepts, including 53 g/t Au over 0.55 metres, 32 g/t Au, 33 g/t Ag, and 1.36% Cu over 0.40 metres, and 5.2 g/t Au, 25 g/t Ag, and 8.0% Zn over 1.5 metres. Surface grab samples have reached up to 101 g/t Au, with channel samples up to 132 g/t Au. The company cautions that grab samples are selective and may not represent overall mineralization.

Enhancing Drill Database and Geological Model

The upcoming technical disclosure update follows ongoing efforts to expand the Plomp Farm drill database, including deeper drilling beneath the slough and reassessment of prior test holes. This systematic data compilation and reinterpretation conform to modern mineral exploration standards and National Instrument 43-101 requirements.

Champion Bear’s modernization of the geological model builds on the project’s historical data foundation, integrating new drilling results with advanced three-dimensional interpretations to deliver a current technical evaluation of the mineralized system.

Strategic Importance for Project Development

Richard D. Kantor, Chair and CEO of Champion Bear, described securing the drilling contract as "a meaningful operational milestone." He emphasized Plomp Farm’s strong historical technical base, robust mineralized system, and demonstrated gold and polymetallic potential. The forthcoming drilling phase aims to test critical zones beneath the slough and generate technical data to support an updated geological model and future project advancement.

This announcement highlights Champion Bear’s strategic commitment to advancing Plomp Farm within its Ontario exploration portfolio, targeting value creation through discovery, joint ventures, and acquisitions focused on gold, platinum group metals, copper, polymetallics, tantalum, and rare earth elements.

Project Location and Geological Setting

Plomp Farm is located west of Dryden in northwestern Ontario, a region with established mineral exploration infrastructure and mining history. The project lies within the Thunder Lake assemblage, a geological setting favorable for precious and base metal mineralization. The Archean-age geology is recognized for lode gold and volcanogenic massive sulphide deposits.

The site benefits from Ontario’s developed mining regulations, exploration infrastructure, and transportation networks, supporting potential future development and operational activities if the project advances toward feasibility or commercial stages.

Qualified Person Review and Compliance

The technical information in the announcement has been reviewed and approved by Todd McCracken, a Qualified Person under National Instrument 43-101 standards. This ensures the disclosure meets Canadian regulatory requirements and reflects a sound technical assessment.

The involvement of a Qualified Person guarantees that the company’s technical statements adhere to professional and regulatory standards for accuracy and appropriateness.

Upcoming Disclosures and Program Updates

Champion Bear will provide further details on the drilling contractor, program schedule, meterage, and technical scope as these are finalized and approvals are received. Investors are encouraged to monitor the company’s public disclosures for updates on program commencement, progress, and interim results.

This approach aligns with industry norms for exploration companies conducting significant technical programs, promoting transparency and ongoing investor communication as the project advances toward the anticipated NI 43-101 update in mid-August 2026.