Ramp Metals Confirms New “Rush” Copper Discovery, Announces Mobilization for Geophysics Ahead of Drill Program

Ramp Metals Inc. (TSXV: RAMP) (‘Ramp Metals’ or the ‘Company’) is pleased to announce a new copper discovery found during its recently completed mapping and sampling program on its flagship Rottenstone SW property. The Company has now confirmed three unique mineralized targets on the property, including the gold discovery of 73.55 gt Au over 7.5m that was identified in drillhole Ranger-01.

Key Highlights:

Ramp Metals is pleased to share key highlights from its ongoing exploration efforts and upcoming plans at its flagship Saskatchewan project:

Rush Target: Surface rock samples returned values of up to 1.61% copper, 0.79 g/t gold, and 113 g/t silver, all overlying a 1,200-meter conductive anomaly, making this a highly prospective drill target.

Rogue Target: Soil sampling results included gold values of up to 530.7 ppb (0.53 g/t), with multiple samples exceeding 100 ppb, highlighting the area’s potential.

Geophysics Program: Mobilization is underway for an estimated 2,877 line-km survey using the Xcite HTDEM system, with 100-meter line spacing to provide high-resolution data for target refinement.

Advisory Team Expansion: Steve Balch has joined the advisory team to assist in interpreting geophysical data and optimizing drill target selection.

Drill Program: The upcoming drill program will focus on all three targets, with the highest priority being the Ranger Gold discovery. The primary objectives at Ranger include delineating mineralization within a quartz-diorite intrusion and gaining a clearer understanding of the gold system’s orientation.

‘Following a successful field program, the Ramp Metals team is excited to have identified three distinct styles of mineralization on the property, including a world-class gold intercept after just one season of exploration,’ commented Jordan Black, CEO of Ramp Metals. ‘Saskatchewan has historically been underexplored, and this discovery demonstrates the immense potential that can be unlocked through grassroots exploration. Moving forward, the company will prioritize drilling in the high-grade gold zone at the Ranger target, with Rush and Rogue as secondary focus areas. By integrating the latest prospecting data with geophysics, we aim to refine our targeting and maximize the success of the upcoming drill program.’

The mapping and sampling program lasted 14 days and focused on the Ranger, Rogue, and newly identified Rush targets (Figure 1). During this program, a total of 312 rock samples and 225 soil samples were taken (Figure 2) throughout the Rottenstone SW property.

Figure 1: Area of Focus for the sampling and mapping program. Zoomed in image are rock samples from the 2023 field program.

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Figure 2: October 2024 field program sample overview, overlaying TDEM channel 25

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Highlights

Rush Target

 

Table 1: Rush Rock Sample results. A cutoff of 0.45% Cu was used for this table.

 

Table 2: Rush Soil Sample results. A cutoff of 100ppm Cu was used for this table.

Rogue Target

 

Table 3: Rogue Soil Sample results. A cutoff of 50ppb was used for this table.

Ranger

With drilling anticipated in February, goals at Ranger will be to further define the mineralization encountered within a quartz-diorite intrusion and to gain a better understanding of how the gold system is oriented. The quartz-diorite intrusion was intersected starting at 145.05m, with mineralization starting at 227m in the Ranger-01 discovery hole.

The Ranger target is in an area of exposed bedrock ridges which parallel the NE-SW striking regional foliation. A NE-SW striking high-conductivity zone approximately 1350m in length is associated with the target. The main lithologies encountered in this area are migmatites. Minor packages of quartz diorite, volcanic and sedimentary units were also encountered.

To date, gold mineralization has been found in two distinct rock packages. Prospecting in fall 2023 discovered two samples grading 5.11 g/t Au and 1.09 g/t Au in mafic packages within the migmatite country rock. These samples were located on separate ridges approximately 100m across regional strike (Figure 1). The discovery intercept of 73.55 g/t Au over 7.5m was found in a coarse-grained quartz diorite. During the October 2024 field program, a total of 177 rock samples were taken from multiple different lithologies around the Ranger target (Figure 3). Anomalous gold values up to 53 ppb were encountered. Field crews were not able to locate the surface expression of the large quartz diorite intrusive body that was intersected in the inaugural drill program. The diorite intrusion was intersected starting at 145.05m in the Ranger-01 discovery hole.

Core orientation tools will be used in the upcoming drill program in order to gain a better understanding of the orientation of the mineralized system, and determine whether or not it outcrops at surface.

Figure 3: Rock sample locations at Ranger from the 2024 & 2023 field season

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Rush

The Rush target is a newly identified area of interest located approximately 7.5 km NW of Ranger. Rush overlies a NE-SW striking zone of high conductivity approximately 1200m in length. The area is heavily forested and bedrock exposure is limited to sporadic ridges which parallel the NE-SW regional foliation. A total of 56 rock samples were taken over the area. Disseminated Chalcopyrite and Malachite staining were noted in multiple rock samples. Rock samples returned values of up to 1.61% copper, 0.79 g/t gold, and up to 113 g/t silver across different samples. A total of 24 soil samples were also taken and returned values of up to 798.5 ppm copper and 21,152 ppb (21.15 g/t) silver. Highlights of both rock and soil samples can be seen in Table 1 and Table 2.

A mineralized outcrop was traced for 20m along the base of an exposed ridge, and dips under cover to the NE and SW. When combined with the soil samples, the strike length of the mineralized zone defined to date is 270m and remains open in all directions.

‘Rush is an incredibly exciting new target,’ said Garrett Smith, VP of Exploration for Ramp Metals. ‘The presence of a large conductive body beneath the surface samples creates a highly compelling drill target. We are eager to test the Rush target and build on the known gold mineralization at Ranger as part of our upcoming drill program.’

Figure 4: Rock and soil sample locations from Table 1 & 2 at the newly identified Rush target.

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Rogue

The Rogue target is located approximately 3km NW from Ranger. The area is heavily forested and is covered by up to 10m of glacial till overburden. The Rogue target area appears to be associated with regional folding. The targets are located within the axis of these folded structures. Limited drilling to date has identified broad zones of chlorite and sericite alteration along with pyrrhotite, arsenopyrite, pyrite, and minor gold mineralization (see Ramp Metals’ news release dated July 8, 2024). A total of 221 soil samples were taken throughout the Rogue target area (Figure 5). Gold values of up to 530.7 ppb (0.53 g/t) were encountered in the soil samples, with multiple samples over 100 ppb (Table 3). These samples, along with the high-grade gold, associated alteration, sulphides, and quartz-carbonate veining encountered in previous drilling, make for a compelling drill target for the upcoming program.

Figure 5: Soil sample grid and results over the Rogue target area.

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Geophysics

The Company has contracted Axiom Exploration Group out of Saskatoon for an extensive airborne geophysical program in order to complete the magnetic and electromagnetic datasets over the entire Rottenstone SW property. An estimated 2877 line-km will be flown using the Xcite HTDEM system at 100m line spacing. The geophysical program, combined with the lab results from the above-noted mapping program will be used to define drill targets in the upcoming winter drill program.

Furthermore, the Company is pleased to add Steve Balch as an advisor to the company, to aid in the selection of drill targets. Steve is an Ontario registered geoscientist with 40 years of experience in geophysics, specializing in magnetic and electromagnetic methods, but also with experience in large exploration compilations. After working at Inco for six years in the Sudbury Basin and at Voisey’s Bay, Steve joined Aeroquest in 2001 and helped develop the AeroTEM system, focusing on the on-time measurements of the linear triangular waveform. In 2007, Mr. Balch founded Triumph Instruments and developed the AirTEM system, a multi-coil helicopter-borne EM system that is now in use in Mexico, China, Canada and Eastern Europe.

Mr. Blach will assist the Company in the selection of drill targets.

In connection with Mr. Balch’s engagement, the Company granted 100,000 incentive stock options to Mr. Balch’s management company, each of which vests immediately, exercisable into one common share of the Company at a price of $1.08 per share for a period of five years, and is governed by the terms of Ramp Metals’ stock option plan.

Permits

The Company has two community meetings scheduled in La Ronge and Stanley Mission on January 28th and 29th respectively. We look forward to discussing the project with Lac La Ronge Indian Band and all community members. It is anticipated that drilling permits will be received in February and that drilling can commence shortly after receipt.

QA/QC and Geochemical Sampling Procedure

All rock & soil samples were taken, described, photographed, and bagged on-site. Control samples consisting of certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Companies QA/QC protocol at a rate of 1:15 or better. All samples were transported by Ramp Metals staff to a secure warehouse, packaged and transported by Manitoulin Transport to Bureau Veritas Commodities Canada Ltd.(‘BV’), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory. The Companies QA/QC protocol is in addition to BV’s QA/QC standard procedure.

Rock samples were prepared using the PRP70-250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples were then analyzed in accordance with BV’s FA330 and MA300 packages, for both gold, platinum & palladium analysis by fire assay (30g fire assay with AAS finish) and multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with lab standard of practice. Copper and lead over limits were re-assayed using BV’s MA370 package, a multi-acid digestion with ICP-ES finish.

Soil samples were prepared using the SS80 package, where samples are dried at 60°C and sieved to depletion to -180 μm (80 mesh). Samples were then analyzed in accordance with BV’s AQ251+PGM package, an ultra-trace by ICP-MS analysis where aqua regia digestion is used for low to ultra-low determination on soils followed by a 37 element ICP-MS and the platinum, palladium add on for analysis of a 15g sample.

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has a new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’ within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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