VANCOUVER, BC — TheNewswire - June 2, 2025 — Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) is pleased to announce that all core from drill hole MHB-35—completed to a total depth of 595 feet (181.7 meters), inclined at -45° with an azimuth of 270°—has been sampled and submitted to ALS Global Services (“ALS Labs”) for analysis. This hole was part of the Company’s Phase 1 Spring 2025 Drill Program (the “Core Program”), which comprised five diamond drill holes totaling 5,484.5 feet (1,671.7 meters) at the Majuba Hill Porphyry Copper-Silver-Gold Project (“Majuba Hill”), located in Pershing County, Nevada.
Figure 1: Photo Looking South. Hole MHB-35 drilled due west underneath historic copper stope workings.
The Phase 1 program was designed to expand known zones of copper mineralization and advance the Majuba Hill project toward completion of a Mineral Resource Estimate (“MRE”). Hole MHB-32, the first of the five holes drilled, returned two significant copper-mineralized zones within a broader interval of 379.5 feet (115.7 meters) grading 0.33% Cu and 16.97 ppm Ag. Notably, the results included 169.5 feet of 0.41% Cu, with higher-grade intervals of 40 feet at 1.36% Cu and 10 feet at 4.36% Cu, indicating that mineralization extends deeper and farther north than previously known. See Press release May 22, 2025, here.
MHB-36 Now Being Processed For Shipment to ALS Labs
Hole MHB-36 was completed to a depth of 1,100 feet (335.3 meters) and is now being processed in preparation for shipment to ALS Labs. This hole was strategically designed using Exploration Technologies, Inc. (“ExploreTech”) and its proprietary probabilistic, AI-driven geophysical modeling, which significantly enhances the Company’s targeting capabilities for this phase of the program. ExploreTech’s software automatically optimizes drill targeting, enabling companies to make smarter, faster, and more cost-effective drilling decisions.
“With assays pending from holes MHB-34 and MHB-35, and MHB-36 now being processed for shipment to ALS Labs, we’re very encouraged by the progress of our 2025 drill program,” said David Greenway, President & CEO of Giant Mining Corp. “These results are expected to enhance our evolving deposit model at Majuba Hill, which we believe is shaping up to be a world-class copper, silver, and gold discovery. Located in a top-tier jurisdiction with strong infrastructure, the project aligns with America's critical minerals and clean energy priorities. With our Special Warrant Financing now underway, we’re well-positioned to accelerate development and build long-term shareholder value.”
Figure 2: 3D Model of Majuba Hill, showing the five drill collars and summarized results for MHB-36. Right: Downhole plot of drilling results and ExploreTech prediction, showing predicted probability of sulfide mineralization and the true intersection (dashed grey).
MHB-36 intersected visual disseminated and vein-hosted chalcopyrite mineralization within the targeted breccia zone, beginning at a downhole depth of 650 ft (198 m). Mineralization was observed intermittently continuing beyond 905 ft (274.32 m).
Figure 3: MHB-36/935 feet (285 m). Intrusive with disseminated chalcopyrite.
Figure 4: MHB-36/ 795 feet (242.3 m). Hornfelsed Auld Lang Syne Metasediments with Chalcopyrite in core box and close-up view
As stated in the May 9, 2025 news release, the fifth drill hole originally targeted a depth of 1,000 ft (305 m), inclined at 70° with an azimuth of 220°. The hole was designed by ExploreTech using its proprietary AI-assisted geophysical modeling system to target a high-potential resistivity anomaly identified in the southern sector of the project area. Upon completion of these five drill holes, the Company’s cumulative exploration and development drilling will exceed 88,000 ft (26,822 m), providing a significantly enhanced geological and geophysical dataset to refine the deposit model and guide subsequent resource estimation.
The successful intersection of targeted mineralization, as predicted by ExploreTech’s AI-driven geophysical modeling, provides a strong foundation for optimizing future drill programs in 2025, 2026, and beyond. Once MHB-36 is shipped to ALS Labs, all core from the current program will be submitted, with assays pending for integration into the Company’s NI 43-101 deposit model.
Special Warrant Financing
The Company further announces a non-brokered private placement of up to 15,000,000 special warrants of the Company (each, a “Special Warrant”) at a price of $0.20 per Special Warrant, for aggregate gross proceeds of up to $3,000,000 the “Offering”).
Each Special Warrant will automatically convert, for no additional consideration, into one unit of the Company (each a “Unit”) on the date that is the earlier of: (i) the date that is three business days following the date on which the Company files a prospectus supplement to a short form base shelf prospectus with the securities commissions qualifying distribution of the Units underlying the Special Warrants (the “Prospectus Supplement”), and (ii) the date that is four months and one day after the closing of the Offering.
Each Unit will be comprised of one common share of the Company (each, a “Share”) and one share purchase warrant (each, a "Warrant") of the Company, with each Warrant exercisable into one additional Share at an exercise price of $0.32 for four (4) years from the date of closing. The Warrants are subject to an accelerated expiry if the trading price of the Shares on the Canadian Securities Exchange (the “CSE”), or such other market as the Shares may trade from time to time, is or exceeds $0.80 for any five (5) consecutive trading days, in which event the Warrant holder may, at the Company’s election, be given notice by way of a news release that the Warrants will expire 30 days following the date of such notice. The Warrants may be exercised by the Warrant holder during the 30-day period between the notice and the expiration of the Warrants.
The Warrants will be subject to ten percent blocker provision that restrict the exercise of any Warrants, in the event that such exercise would result in the applicable securityholder holding ten percent or more of the issued and outstanding Shares at such time.
The Company may pay finder’s fees on the Offering within the amount permitted by the policies of the CSE. The Company will use the net proceeds from the Offering for operations and administrative costs.
The Company intends to use the proceeds raised from the Offering for ongoing exploration activities and general working capital. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the CSE.
The Special Warrants are expected to be issued pursuant to exemptions from the prospectus requirements under Canadian securities laws, such as the accredited investor, $150,000 minimum investment, or other relevant exemptions under National Instrument 45-106 – Prospectus Exemptions. Prior to the filing of the Prospectus Supplement and the automatic conversion of the Special Warrants, the securities issued under the Offering will be subject to a four-month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law.
The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody
The Company utilizes a QA/QC program using best industry practices at the Majuba Hill Project. Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. Sample bags are transported from the Giant Mining secure warehouse to the ALS Labs Sample Prep Facility in Elko, Nevada. ALS Labs then securely transports the prepared pulps to their analytical lab in North Vancouver, B.C.
All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS Labs method Au-AA23 which is a fire assay with an AAS finish on a 30-gram split. Copper, silver, and the remaining 31 elements are determined by ALS Labs method ME-ICP61 which is a four-acid digestion and ICP-AES assay. Approximately 5% of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
About Giant Mining Corp.
Giant Mining is focused on identifying, acquiring, and advancing late-stage copper and copper/silver/gold projects to meet the growing global demand for critical metals. This demand is driven by initiatives like the Green New Deal in the United States and similar climate-focused programs worldwide, which require substantial amounts of copper, silver, and gold for electric vehicles, renewable energy infrastructure, and the modernization of clean and affordable energy systems.
The Company’s flagship asset is the Majuba Hill Copper, Silver, and Gold District, located 156 miles (251 km) from Reno, Nevada. Majuba Hill is situated in a mining-friendly jurisdiction with supportive regulations and has the potential to become one of the next major copper deposits, critical for meeting the increasing need for this red metal.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway President & CEO
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Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release include, without limitation, statements related to the Offering, the use of proceeds of the Offering, and future plans and objectives of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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