TORONTO, June 12, 2025 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce that due-diligence sampling at the historical Frost Cove Antimony mine and the Stewart Gold mine on its Black Raven property returned assays of 35.1% and 29.7% antimony and 14.4 g/t gold, respectively. These samples exceeded the laboratory’s original detection limit for those elements (see release of May 28th 2025), and the results reported herein are from the overage assaying. The Frost Cove antimony veins and host felsic dyke have been traced over 800m on surface, with numerous historical samples grading >1% Antimony (the upper detection limit of the historical assays); note that these assay values are not NI 43-101 compliant. Neither the Frost Cove Antimony nor the Stewart Gold mine have been drilled.
“These high-grade results confirm our expectations,” commented Paul Sobie, CEO of Churchill, “Our antimony sampling was from the hanging wall and footwall veins in the upper historical adit at Frost Cove. Previous historical sampling returned 33% Antimony and 28.27 g /t gold over 0.43 metres, 320 metres south of this adit (see news release of April 14th, 2025) suggesting that conditions that produced ultra-high grade antimony concentrations may exist over an area covering multiple veins with significant lengths. These grades place Frost Cove among the highest-grade antimony projects globally. Churchill is immediately commencing its summer surface exploration program, with follow up work at Frost Cove and Stewart through trenching and channel sampling (at surface and in the workings at Frost Cove), as well as systematic mapping and sampling of the complete mineralized package.”
The Black Raven Property hosts two past-producing mines dating back to the late 1800’s, the Frost Cove Antimony Mine, and the Stewart Gold-Antimony Mine. It is located approximately 60km northwest of Gander, and approximately 100km north of the Beaver Brook Antimony Mine, which is believed to be scheduled for re-opening. It is reported that the owners of Beaver Brook are actively exploring for more deposits to feed the mill. Churchill can conduct year around inexpensive exploration in a great jurisdiction at Black Raven, which can lead to rapid project development.
(https://www.cbc.ca/news/canada/newfoundland-labrador/antimony-mine-closure-1.6703205)
Antimony: A Critical Mineral in High Demand
Antimony is a critical mineral essential for national security and modern technology, with over 90% of global production controlled by China, Russia, and other non-Western jurisdictions. The metal is a vital component in military applications, while also being crucial for certain flame retardants, strengthening alloys in batteries, and emerging energy storage technologies. Recent Chinese export restrictions have driven prices to record levels exceeding $50,000 per tonne, highlighting antimony’s strategic importance to a “Fortress North America” approach to critical mineral supply chains and making domestic North American sources increasingly important for economic and national security.
Due-Diligence Sampling Program
Antimony, gold and silver assay data from historical surface grab samples are presented in the figure below along with the 2025 Wilton due-diligence sample assays. Due-dilligence samples from several of the other prospects on the property returned high gold, lead, and zinc values as well as copper and molybdenum values of high interest for porphyry style deposits, per the figure, with silver assays still pending. Importantly, reportedly high-grade occurrences at M.H. (Mortons Harbour) Head, M.H.1 and M.H.2 were not able to be sampled during this first tour of the property.
All samples were selected by Dr. Derek Wilton, independent QP to Churchill, during field visits on April 24th and 25th in the company of Mr. Sobie and two senior field technicians, and led by vendor Roland Quinlan. All samples were labelled and securely bound and delivered to the prep laboratory of SGS Canada Inc. in Grand Falls-Windsor, for crushing and pulverizing. Splits were couriered to Burnaby, B.C. by SGS for assay work and overlimit samples sent to SGS Lakefield for the GC_XRF75A analytical method. The overlimit gold sample from the Stewart Mine was analysed bys SGS Burnaby using the GO_FAG30V method.
All due-diligence samples described in this news release were grab samples and are selective by nature and are unlikely to represent average grades of the property.
Black Raven Antimony-Gold Property
The Black Raven Property comprises nine map-staked licenses constituting a single contiguous block of 125 claims that in total cover 3,125ha or 31.25km2. Churchill and the vendors have agreed to a 4km wide area of interest around the property boundaries as part of their agreement.
The past sampling data reported in this News Release is historic in nature and does not meet NI43-101 standards. Churchill has relied on the information supplied in the Government of Newfoundland field assessment reports and from information found in the Mineral Occurrence Database System operated by the Newfoundland Department of Industry, Energy and, Technology. Natural Resources.
The technical and scientific information in this news release has been reviewed and approved by Dr. Derek H.C Wilton, P.Geo., FGC, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Dr. Wilton is an honorary research professor of Economic Geology at Memorial University in St. John’s and is independent of the Company for the purposes of NI 43-101.
References:
Heyl, George R., 1936. Geology and Mineral Deposits of the Bay of Exploits Area. Newfoundland Department of Natural Resources, Geological Section, Bulletin No 3. 65 pages.
Fogwill, W.D., 1968. Report on a copper prospect at Western Head, Moreton’s Harbour in the Notre Dame Bay Area, Newfoundland. Newfoundland and Labrador Geological Survey, Assessment File 2E/10/0350, 1968, 48 pages
Kay, E.A. 1981. A geochemical and fluid inclusion study of the arsenopyrite-stibnite-gold mineralization, Moreton’s Harbour, Notre Dame Bay, Newfoundland. Master Thesis, Memorial University of Newfoundland, St. John’s, Canada, 1981. Newfoundland and Labrador Geological Survey, Assessment File 002E/10/1075, 1981, 209 pages.
Quinlan E, 2013. First Year Assessment Report for 019872M, Ninth Year Assessment Report for 015553M, and Third Year Assessment Report for 017787M for Exploration within the Black Raven Property, NTS Map Sheet 2E/10. Newfoundland and Labrador Geological Survey Assessment Report, 69 pages
Quinlan, E. 2025. 21st, 8th & 4th Year Assessment Report of Diamond Drilling & Prospecting On Black Raven Property, License 023212M (21st Year), License 02840m (8th Year), License 35674m (4th Year) NTS 02E/10, North-Central Newfoundland. Property centered at approximately 49°57’N, 54°87’ W. 34 pages.
About Churchill Resources
Churchill Resources Inc. is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board, and advisors have decades of combined experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Newfoundland and Labrador projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.
Churchill’s Taylor Brook Nickel-Copper-Cobalt-Vanadium-Titanium Property, and Florence Lake Nickel Property, are both in good standing for a number of years, such that further exploration and development can await improved market conditions sentiment while the Company focuses on high-grade antimony-gold and other critical minerals.
Further Information
For further information regarding Churchill, please contact:
Churchill Resources Inc.
Paul Sobie, Chief Executive Officer
psobie@churchillresources.com
Tel. 416.365.0930 (o)
647.988.0930 (m)
Alec Rowlands, Business Development & IR
Alec.rowlands1@gmail.com
Tel. 416.721.4732 (m)
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill’s objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. In particular, this release contains forward-looking information relating to, among other things, the entering into of a definitive Option Agreement and other ancillary transaction documents with respect to the Black Raven Antimony Property and the exercise of such option; the number of Common Shares that may be issued in connection with the transactions discussed herein, closing conditions and receive necessary regulatory approvals. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: exploration results on the Black Raven Antimony Property; the expected benefits to Churchill relating to the exploration proposed to be conducted on its properties; receipt of all regulatory approvals in connection with the transaction contemplated herein; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill’s properties, if required; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; and title to properties. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c6c11e2-4374-430d-9dcd-566e04cdf9cf
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