Vancouver, British Columbia--(Newsfile Corp. - May 23, 2025) - Newpath Resources Inc. (CSE: PATH) (FSE: 0MZ) (OTC Pink: RDYFF) ("Newpath" or the "Company") announces it has optioned the Pat Ann claim group ("Pat Ann") situated 35 km northeast of Thunder Bay, Ontario, comprising approximately 1,150 hectares and contiguous to Newpath's 100% owned Alpha-Bravo Property. The combined claim groups cover 13,100 hectares and present an opportunity to explore a large, contiguous land package with potential to host both lithium-bearing pegmatites and base metal mineralization.
Pat Ann covers a diverse geological setting, with obvious LCT pegmatite potential in the northeast, similar to the Company's nearby Hilltop showing. The remainder of Pat Ann is underlain by mixed units of metamorphosed Archean volcanic and sedimentary rocks and an intrusive complex. Copper - zinc mineralization at Pat Ann is hosted within highly altered and strained Archean volcanic rocks and can be traced in scattered outcrop and trenches for a minimum 1.3 km and the zone remains open to further expansion. The host unit is highly magnetic and conductive, making it an excellent target that can be traced with modern geophysical methods (See map at the end of this News Release).
Mineralization appears to be related to a quartz + magnetite (iron oxide) - rich unit that may be up to 40 m thick that has been locally fractured and altered with an iron sulphide "cement" made predominately of pyrrhotite and pyrite. Mineralization is coarse-grained, copper occurs as chalcopyrite and anomalous gold, silver, cobalt, nickel and zinc is also present. More work is needed to understand the roles of structure, alteration and stratigraphy; to date there is no record of such work in the area.
To exercise the option, Newpath must incur aggregate expenditures on Pat Ann of $550,000, make aggregate cash payments of $532,000 to the optionors, and issue 500,000 common shares to the optionors, on or before the dates set out in the table below:
| Payment Period | Minimum Expenditures |
Cash Payment | Optionee Share Issuance |
| On the Effective Date | - | $8,000 (paid) | - |
| On or before 12 months from the Effective Date |
- | $24,000 | 500,000 |
| On or before 24 months from the Effective Date |
$150,000 | $100,000 | - |
| On or before 36 months from the Effective Date |
$400,000 | $400,000 | - |
| Total | $550,000 | $532,000 | 500,000 |
Additonally, Newpath agreed to maintain the Pat Ann claims in good standing and incur the exploration expenditures required, but anniversary dates may need to be adjusted pending the outcome of First Nations consultation and permit approvals. Upon exercise of the option, the optionors will retain a 1.6% net smelter returns royalty, subject to buy-out of 50% for a cash payment of $800,000 which will survive to the 6th anniversary of the royalty vesting date. Only the first cash payment is committed, thereafter it is Newpath's election to maintain the option agreement in good standing.
Previous Exploration
The first recorded work was completed in 1955. The copper showings were trenched and 12 core holes totaling 1498.7 m were drilled. Nine holes into the zone intersected sulphides within which were four intervals with chalcopyrite. The best individual drill intersection was from DDH 2, which assayed 0.82% Cu, 0.6% Zn, and trace Au over 0.76 m within a 7.4 interval of disseminated to semi-massive sulphides. Gold was assayed but is reported to be low in tenor. A QP has not independently reviewed the historic drill core or verified the historic analytical results. Until such verification has been carried out, the historical assay results should not be relied on.
During 1991 & 1993 a local prospector carried out prospecting, some mapping, VLF-EM and Beepmat surveys utilizing government prospector-assistance funding.
All historical work accessed the property by means of logging roads from the west, most of which have fallen into disrepair. Newer logging road access now extends along the eastern side of Pat Ann, from Alpha Bravo. Previously unknown extensions to the zone have recently been found both in the southeast and the north-west.
Additional New Prospecting Discoveries
Prospecting crews working for Newpath have found other prospects of interest elsewhere on the Alpha Bravo project. Of note is an area referred to as the "Plaid" target south of Pat Ann, where rusty-weathering, siliceous volcanic breccias returned chip-channel samples high in copper and gold. These prospects, which appear to be new showings, are associated with a strong magnetic anomaly. A QP has not visited this target, but follow-up is planned for early summer, 2025.
Also, prospecting outward from our Hilltop area worked south and east. Numerous new micaceous pegmatites found, with one cluster yielding very favourable LIBS results, suggesting LCT pegmatites may be present.
Qualified Person
The technical content of this news release has been reviewed and approved by Douglas Turnbull, P.Geo., the Company's COO and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Acknowledgement of First Nations
Newpath Resources Inc. is committed to fostering lasting, transparent, trust-based relationships with the Indigenous communities where we operate. We respectfully acknowledge that our Alpha/Bravo project is on the traditional territories of many Nations. Newpath recognizes the great privilege of conducting work on these lands and recognizes the accountability and commitment we owe to the communities. Newpath shares a common interest in ensuring that the lands and waters will continue to provide cultural, environmental, and economic wellbeing for Indigenous communities for generations to come.
About Newpath Resources Inc.
Newpath is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH. Newpath holds a 100% interest in the early-stage Alpha/Bravo critical metal exploration project, approximately 50 kilometres northeast of Thunder Bay. The Company also owns the Northshore gold project located in the Schreiber-Hemlo greenstone belt.
On Behalf of the Board of Directors,
NEWPATH RESOURCES INC.
"Alexander McAulay"
Chief Executive Officer
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
CEO Direct Line: +1 (604) 365-0425
Forward-Looking Statements
This news release may contain certain "forward-looking information." Forward-Looking information includes statements regarding future plans, objectives, or economic performance, or the assumptions underlying any of the foregoing. Forward-Looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements, including but not limited to: the optioning of the Pat Ann claims, the ability to incur the minimum aggregate expenditures on the Property, make aggregate cash payments of to the optionors, and issuance of shares to the optionors and follow-up planned at the Alpha Bravo project and the timing thereof.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
