Miata Metals Provides Update on Sela Creek Drilling Program

Miata Metals Corp. has issued an update on its 10,000-meter diamond core drilling program at the Sela Creek Gold Project in Suriname.​​​​​​​

Key updates include:

• Approximately 1,500 meters of diamond drilling have been completed across ten holes
• Four holes were drilled at the Stranger Target, and the drill is now drilling the sixth hole at the Golden Hand Target
• The company plans to mobilize a second drill rig to Sela Creek
• Assays are undergoing QAQC testing for many holes, which should be completed this month

We have completed the first 10 holes totaling approximately 1,500 m, or 15 %, of our targeted of 10,000 meters this year, and the drill crew continues to increase their average daily production. Assays are pending QAQC checks for several holes and will be disseminated once the Company has verified current assaying protocols and methods. The drill is currently testing the Golden Hand target, where a large amount of small-scale saprolite mining has taken place in the past.

Dr. Jaap Verbaas, Chief Executive Officer, Miata Metals Corp.

Operational Update

The company has made steady progress in the four months since construction of the camp began, which continues to expand as the drilling program tests new targets. A second drill rig is scheduled for deployment at Sela Creek. Initially, it will replace the current rig, with the expectation of delivering greater meterage per shift. This is expected to reduce the cost per meter drilled while boosting overall productivity. The company aims to operate both drill rigs simultaneously by the end of the year.

Heavy rainfall in recent weeks has limited road access to several targets. As a result, the Puma Target—one of the company’s key priorities—has not yet been drilled. Efforts are underway to secure reliable access to the area, where multiple drill pads are already prepared. In the meantime, drilling continues at the Golden Hand Target.

To ensure the presence of coarse or "nuggety" gold was not missed, select intervals from the first five drill holes were submitted for reassay using 30 g and 50 g aliquot fire assays, as well as metallic screen assays. Once these QAQC procedures are complete, the initial batch of results is expected to include all drill holes from the Stranger Target and a subset from the Golden Hand Target.

Golden Hand

The Golden Hand target extends over two kilometers and features multiple mining pits that intersect the dominant foliation direction within metasedimentary rocks. Several structural zones are being tested as potential hosts for gold mineralization at this target. The company is currently drilling the sixth hole at Golden Hand.

Quality Assurance and Quality Control

Sample intervals from the first five holes were reassayed using 50 g aliquots, following initial assays conducted with 30 g aliquots. Selected samples were also submitted for metallic screen assays to account for the presence of coarse or “nuggety” gold that may not have been captured in the standard fire assays. The metallic screen method involves screening a 500 g pulp sample to 106 µm, followed by separate 50 g fire assays on both the fine and coarse fractions.