Golden Circle Opportunity: Playfair Mining (TSX.V:PLY) Prepares Exploration Push in Nova Scotia

Highlights

• Playfair Mining holds an option to earn 100% interest in the Golden Circle Project, covering eight historic gold districts in Nova Scotia.
• The company is reviewing 1,394 historical assessment records to guide exploration across its past-producing properties.
• An initial 2,950-metre drilling program at Mount Uniacke is planned to test high-grade and bulk-tonnage potential.
• Playfair recently closed the first tranche of a private placement raising $2.16 million to support exploration activities.

Playfair Mining Ltd. (TSX.V:PLY), a Canadian resource company, is advancing exploration activities at its Golden Circle Project in Nova Scotia. The project spans 76.47 square kilometres and covers eight historic gold districts, an area that has been part of the province’s long gold-mining legacy. With gold prices at historically elevated levels and renewed exploration activity in the region, the project positions the company within a historically productive mining district.

Gold was first discovered in Nova Scotia in 1860, leading to three major gold rushes between 1861–1874, 1896–1903, and 1932–1942. During this period, 65 gold districts were identified and mined, generally at relatively shallow depths. Recent developments have revived exploration interest in the region. The Nova Scotia Government has declared gold a Provincial Strategic Mineral and introduced improvements to the regulatory framework aimed at providing a more streamlined path for mining projects.

Golden Circle Project and Historical Assets

Playfair has an option to earn 100% interest in eight past-producing gold properties that form part of the Golden Circle Project. These properties were assembled over many years by Perry MacKinnon, a Nova Scotian geologist with extensive regional experience.

The project area includes historic mines that produced gold from high-grade quartz vein systems within the lower Paleozoic Meguma Group of southern Nova Scotia. Historical mining rarely exceeded 300 metres in depth, and in many cases operations were limited to less than 100 metres, leaving potential for further exploration.

To support exploration planning, Playfair is compiling and reviewing historical information related to its properties. A total of 1,394 assessment work records are available through the Nova Scotia government. Following an initial review of the eight properties, the Mount Uniacke property emerged as a leading exploration priority, with Wine Harbour and Country Harbour also identified as significant prospects.

Planned Drilling at Mount Uniacke

Playfair has designed a three-pronged exploration program at the Mount Uniacke property. The program is expected to include 2,950 metres of diamond drilling, targeting three distinct exploration areas.

The drilling will focus primarily on a high-grade structurally controlled zone known as the “Crumple”, which has seen limited historical drilling. In addition, the program will test the bulk-tonnage potential in areas located near large historic open cuts that date back more than a century.

The estimated cost of the exploration program is approximately $1.03 million, based on an all-inclusive drilling cost of $350 per metre, including supervision and assaying.

Exploration Program Scope

The proposed drilling program includes:

• Total Drilling: 2,950 metres
• Number of Holes: 41 diamond drill holes
• Target Areas: Three exploration zones within the Mount Uniacke property
• Estimated Program Cost: Approximately $1.03 million

This initial drilling phase is intended to test multiple geological targets within the property and further evaluate exploration potential across the Golden Circle Project.

Private Placement Financing

Playfair Mining recently announced the closing of the first tranche of a private placement conducted under the Listed Issuer Financing Exemption (LIFE) in accordance with NI 45-106 Prospectus Exemptions.

Under this tranche, the company issued 35,917,667 units at $0.06 per unit, generating gross proceeds of $2,155,060. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at $0.15 per share for a period of two years from the date of issuance. The financing carries no hold period.

The proceeds from the financing are expected to support exploration drilling at the Mount Uniacke property.  

With funding secured and drilling planned at Mount Uniacke, Playfair Mining looks forward to advancing exploration across its Golden Circle Project, focusing on historically productive districts and evaluating high-grade and bulk-tonnage gold potential.

Shares of PLY last traded at CAD 0.070, up around 8% on March 11, 2026.