July 7, 2025 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Wheaton Gold property, an orogenic gold prospect located 60 km east of the Village of Dease Lake, British Columbia (BC). The property covers the headwaters of multiple placer gold-bearing creeks, including Alice Shea Creek, source of the famous 52 troy oz ‘Turnagain nugget’.
Highlights of the Wheaton Gold Property
2,223 hectares in size, covering roughly 2 km x 9 km (Figure 1).
Located 60 km east of Dease Lake, BC, with extensive truck and ATV trail access throughout the claims, servicing historic and current placer mining operations.
Covers the headwaters of the placer gold-bearing Wheaton and Alice Shea creeks, which are famous as the source of some of BC’s coarsest gold nuggets. This includes the fourth largest nugget ever found in BC, the ‘Turnagain nugget’, weighing 52 oz gold (Au) (Figure 2)1.
The project represents one of BC’s most underexplored placer gold districts, with very limited hardrock exploration work done to date.
A three-hole, 304.7-meter diamond drill program completed in 1986 yielded numerous gold intercepts, including 38 g/t Au over 3.05 m (from 28.96m depth)2.
Historic gold-in-soil values up to 32.3 g/t Au, and historic rock grab samples up to 11.25 g/t Au3, have been returned.
Daithi Mac Gearailt, CEO of Trailbreaker, commented:“We are excited to add the Wheaton Gold property to our portfolio of gold and copper exploration projects. Now that the claims have been consolidated, this is a great opportunity to explore the area of a historic discovery hole that has yet to receive follow-up exploration. This is one of the few placer districts left in BC where a hardrock source of the placer gold has yet to be found. We are currently designing a robust exploration program and will be providing updates as soon as they are available.”
Location and Access
The 2,223-hectare Wheaton Gold property is located approximately 60 kilometers east-southeast of the Village of Dease Lake in northwestern British Columbia and can be accessed by all-terrain vehicles utilizing the Boulder Mine Road. The property can also be accessed by float plane chartered from Dease Lake to Boulder City Lake. Historic placer mining trails provide good vehicle access to much of the property.
Giga Metals Corporation has proposed a major road and transmission line to its advance-stage Turnagain nickel-cobalt deposit, located 10 km to the east. This would bisect the northern end of the Wheaton Gold property, further bolstering the potential economic viability of the area.
Figure 1: Location of the Wheaton Gold property with historic exploration highlights.
Placer Mining History
Placer gold was first discovered at the mouth of Wheaton Creek (formerly Boulder Creek) in 1932 and shortly afterwards on Alice Shea Creek, a small tributary of Wheaton Creek. The Wheaton-Shea placer camp marked the last major placer gold discovery in BC, with a total of 7,756 oz of placer gold mined from Wheaton Creek between 1932 and 1945, and a total of 331 oz Au mined from Alice Shea between 1936 and 1940. Alice Shea Creek produced the coarsest placer gold in the drainage, with one nugget weighing over 52 oz (the Turnagain nugget, Figure 2) and numerous nuggets weighing from 1 to 16 oz. Modern-day placer mining continues to this day at the mouth of Wheaton Creek, with over 20,000 oz of placer gold estimated to be recovered to date.
Figure 2: The 52 oz Turnagain nugget, discovered in Alice Shea Creek in 19371.
Hardrock Exploration History
Wheaton Zone
The northern portion of the property, covering the present-day placer operations near the mouth of Wheaton Creek, has seen the least amount of hardrock exploration within the property, having undergone only one documented significant program, completed in 1986 by Supreme Resources (Supreme). That year, Supreme conducted a soil geochemical survey followed by a mechanical trenching program which returned very encouraging results, and identified strongly anomalous gold-in-soil values up to 32,300 ppb Au. Trenching within these soil anomalies returned rock gab samples up to 11.25 g/t Au. During the same year, Supreme tested this zone with 3 shallow diamond drill holes totaling 304.7 meters (Figure 3). However, only limited follow-up work in the last 39 years has been documented.
Hole DDH-86-01, the first of the 1986 program, encountered several gold-enriched intervals associated with fault-controlled quartz-carbonate breccia, including:
38 g/t Au over 3.05 meters (from 28.96 meters)
23 g/t Au over 3.05 meters (from 38.10 meters)
88 g/t Au over 3.05 meters (from 47.24 meters)
89 g/t Au over 3.05 meters (from 68.58 meters)
34 g/t Au over 3.05 meters (from 102.11 meters)
46 g/t Au over 2.44 meters (from 139.29 meters)
The other two holes underwent very limited sampling, with only two samples taken from DDH-86-02 and one from DDH-86-03, all returning trace gold values.
This work by Supreme resulted in the first and only discovery of hardrock gold mineralization that could be linked to the source of the rich placer gold deposits along the lower portion of Wheaton Creek.
Figure 3: Location of the 1986 diamond drill program above Wheaton Creek.
Pacific Bay Minerals, a junior mining company, held the ground from 2015 to 2024 but conducted very limited exploration. Much of Pacific Bay’s efforts were focused on mining jade boulders rather than on hardrock gold exploration. Their most significant work included a 2021 property-wide airborne magnetic survey that defined an open-ended NW-SE trending linear magnetic low feature that correlates with the 1986 discovery hole by Supreme. This is interpreted to potentially represent a listwanite-altered fault zone (Figure 4). Listwanite and listwanitic alteration is extensively documented around Alice Shea Creek (expanded upon below).
This survey provided several new exploration targets which have not been tested to date. Several east-west trending offsets occurring near the Wheaton zone may represent potential structures associated with gold mineralization.
Figure 4: The 2021 airborne magnetic survey completed by Pacific Bay Minerals displays a significant NW-SE trending magnetic low which is interpreted to be a listwanite-altered fault zone. The 1986 drilling is located on the margin of this zone.
Shea Zone
The Shea zone is located along the headwaters of Alice Shea creek, close to the discovery area of the 52 oz Turnagain gold nugget. The nugget was discovered in the upper extent of the drainage, narrowing the search for the hardrock source.
The majority of the exploration work done at the Shea zone was done from 1985 to 1996, with several junior mining companies conducting small-scale exploration surveys. This includes companies such as Powder Ridge Resources, Imperial Metals, Goldbank Ventures, and Loumic Resources.
Loumic Resources’ 1996 exploration program was the most robust, comprising 196 soil samples and 191 meters of mechanized trenching4. Reconnaissance soil sampling identified several anomalous gold-arsenic (As) zones (up to 161 ppb Au & 112 ppm As) that have yet to receive follow-up exploration (Figure 5). Furthermore, trenching, targeting gossanous float immediately upslope from the location of the 52 oz gold nugget, revealed a listwanite outcrop containing intense quartz stockwork and disseminated pyrite. Only trace gold values were returned; however, the mineralization and alteration are textbook markers for orogenic gold deposits. This marked the last significant gold exploration program occurring on the Shea zone.
In 2011, First Point Minerals Corp was the last junior mining company to work the property; however, they focused on nickel mineralization rather than gold. Gold analysis for rock grab samples during the 2011 program utilized a 4 g/t detection limit, much higher than fire assay detection limits commonly used.
Figure 5: Historic hardrock exploration along Alice Shea Creek, with the approximate location of the discovery of the 52 oz Turnagain nugget.
Geology, Deposit Model, and Mineralization
The Wheaton Gold property is underlain by northwest-trending, complexly folded and faulted ultramafic rocks of the oceanic Cache Creek terrane, and by metasedimentary rocks of the Kedahda Formation (Figure 6).
The northern portion of the Wheaton Gold property covers fault-bounded metasedimentary rocks of the Mississippian to Triassic Kedahda formation which include heterolithic argillite with wispy silt laminae, thinly bedded sandstone, and rare discontinuous limestone beds. This Kedahda sedimentary package is separated from the ultramafic rocks (peridotite, dunite, pyroxenite) of the Cache Creek terrane by a northwest-southeast trending thrust fault.
Figure 6: Regional geology and neighbouring projects of the Wheaton Gold property.
The Wheaton Gold property demonstrates potential for orogenic “motherlode-style” Au-bearing quartz vein deposits, such as the past-producing 4.2 Moz Bralorne-Pioneer mine in the Bridge Lake Gold Camp, southwestern British Columbia, and the world-famous Sierra Nevada mining district in California which produced over 100 Moz of placer and hardrock ‘lode’ gold (Figure 7). The Wheaton Gold property is analogous to these deposits, as all are hosted by oceanic crust accreted onto ancestral North America and spatially associated with significant coarse placer gold deposits. Furthermore, the lode gold deposits at both the Bridge Lake and Sierra Nevada gold districts are associated with listwanitic alteration of peridotites, quartz veining, and major fault structures, all of which have also been mapped in the Wheaton property area.
Figure 7: Orogenic lode gold camps along the Cordillera (modified from Nelson et al., 20135).
There have been no major orogenic lode gold deposits delineated to date within the northern Cache Creek terrane. However, several large placer gold camps have been established, commonly accompanied by hardrock showings and small gold deposits indicating potential sources of the rich surficial placers. Nearby examples of orogenic gold showings within the oceanic Cache Creek terrane include the Yellowjacket deposit (130,000 tonnes grading 5.8 g/t Au) situated in the Atlin Goldfields, and the Keystone Showing (historic drill intercepts include 9.1 g/t Au over 12.2 m within a quartz porphyry setting) in the Thibert placer district. Both of these are associated with quartz veining and listwanitic alteration.
The Erickson gold camp, ~100 km to the north-northwest, is not hosted by the Cache Creek terrane, but is surrounded by the McDame Creek coarse surficial placer gold deposits, where the second-largest placer gold nugget ever recorded in BC, weighing 72 oz, was discovered. At Erickson, which comprises several past-producing gold mines, lode gold is characterised by quartz veins hosted by listwanite. Average grades ranged from 10-20 g/t Au for a total of 315,000 oz Au mined historically. The Erickson camp includes the Taurus deposit, currently owned and being advanced by Cassiar Gold Corp., which has delineated an indicated resource of 0.4 Moz Au and an additional inferred resource of 1.9 Moz Au6.
Placer miners have reported that many of the placer gold nuggets recovered from the Peacock workings of Wheaton Creek, which directly drains the area of drill hole DDH-86-01, contain inclusions of altered pyroxene and serpentine, and that some gold nuggets are still fused to quartz fragments. These observations by the placer miners further suggest the placer gold in Wheaton Creek has a nearby source.
Terms of the Option Agreement
On July 1st, 2025 (the “Effective Date”), Trailbreaker signed an option agreement (the “Agreement”) with Cordilleran Properties (the “Optionee”) of Kamloops, BC. Subject to the approval of the TSX Venture Exchange, Trailbreaker has the option to acquire a 100% interest in the Wheaton Gold property by completing the following:
paying to the Optionee $10,000 on the Effective Date;
paying to the Optionee $10,000 on or before the first anniversary of the Effective Date;
paying to the Optionee $15,000 on or before the second anniversary of the Effective Date;
paying to the Optionee $25,000 or issuing to the Optionee $25,000 worth of Trailbreaker common shares (“Shares”) on or before the third anniversary of the Effective Date;
paying to the Optionee $75,000 or issuing to the Optionee $75,000 worth of Shares on or before the fourth anniversary of the Effective Date; and
completing $1,000,000 of expenditures on or before the fifth anniversary of the Effective Date.
Upon completion of the Agreement, Trailbreaker will obtain a 100% interest in the property and the Optionee will retain a total 2.0% Net Smelter Return (NSR) royalty, which may be brought down to 0.5% through a cash payment of $1,500,000 to the Optionee.
Nelson, J.L., Colpron, M., and Israel, S., 2013, The Cordillera of British Columbia, Yukon, and Alaska: Tectonics and metallogeny, in Colpron, M., Bissig, T., Rusk, B.G., and Thompson, J.F.H., eds., Tectonics, Metallogeny, and Discovery: The North American Cordillera and Similar Accretionary Settings: Society of Economic Geologists Special Publication 17, p. 53–109.
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
June 5, 2025 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce that the TSX Venture stock exchange (the “Exchange”) has approved the option agreement for Trailbreaker to acquire a 100% interest in the Coho property, central British Columbia (BC).
The 8,000-hectare Coho property covers a copper-gold (Cu-Au) porphyry target located 90 km north of Fort St. James, BC, and 30 km west of the Mount Milligan mine. Historically named the Chuchi South property, Trailbreaker renamed the project as the Coho property when the Company announced the acquisition on May 26, 2025 (see news release).
Terms of the Option Agreement
On May 15th, 2025, Trailbreaker signed an option agreement (the “Agreement”) with Ron Bilquist (“Bilquist”) of Gabriola, BC. Subject to the approval of the Exchange, Trailbreaker has the option to acquire a 100% interest in the Coho property if the following terms are met:
(a) pay to Bilquist an aggregate $380,000 as follows:
(i) $20,000 on execution of this Agreement;
(ii) an additional $25,000 on or before May 20, 2026;
(iii) an additional $35,000 on or before May 20, 2027;
(iv) an additional $50,000 on or before May 20, 2028;
(v) an additional $50,000 on or before May 20, 2029;
(vi) an additional $200,000 on or before May 20, 2030; and
(b) issue and deliver to Bilquist an aggregate 700,000 Trailbreaker common shares (“Shares”) as follows:
(i) 50,000 Shares within 10 days of the date of Regulatory Approval;
(ii) an additional 100,000 Shares on or before May 20, 2026;
(iii) an additional 150,000 Shares on or before May 20, 2027;
(iv) an additional 200,000 Shares on or before May 20, 2028;
(v) an additional 200,000 Shares on or before May 20, 2029; and
(c) complete Expenditures on the Property of $200,000 as follows:
(i) $200,000 of Expenditures on or before May 20, 2027; and
(ii) Expenditures (including the Expenditures referred to in (i) above) of $1 million or
1,500 metres of diamond drilling within 3 years of receiving a drill permit
Upon completion of the Agreement, Trailbreaker will obtain a 100% interest in the property and Bilquist will retain a total 2.0% Net Smelter Return (NSR) royalty, which may be brought down to 0.5% through a cash payment of $1,500,000 to Bilquist.
Upon completion of a bankable feasibility study, Trailbreaker shall pay to Bilquist $1,500,000.
Commencing on May 20, 2032, Trailbreaker shall pay to Bilquist annually $30,000 as an advance payment against the royalty, such payments to be credited against the royalty once the property goes into commercial production.
For more information about the Coho property see the May 26, 2025 news release or the Coho section on Trailbreaker’s webpage:
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
May 26, 2025 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Coho property, a drill-ready copper-gold (Cu-Au) porphyry target located in central British Columbia (BC), 30 km west of the Mount Milligan mine.
Highlights of the Coho Property
8,000 hectares in size.
Located 90 km north of Fort St. James, BC and 185 km northwest of Prince George, BC
Excellent road access throughout the property.
30 km west of the Mount Milligan Cu-Au porphyry deposit (reserves of 1.2 B lbs Cu, 2.8 Moz Au1) which has a similar geological setting.
3 km south of Pacific Ridge Exploration’s BP zone which hosts a non-NI 43-101 compliant historic resource of 50 million tonnes grading between 0.21 – 0.40% Cu and 0.21 – 0.44 g/t Au2. Significant drill intersections at the BP zone include 0.51% copper equivalent2 (CuEq) over 100 m and 0.27% CuEq over 382 m.
Recently completed property-wide geochemical and geophysical surveys, but with only 2,186 meters of historic drilling in 20 widely-spaced holes.
The priority target, the Coho zone, has never been drilled, but hosts a recently identified chargeability and resistivity anomaly with high-grade gold and copper values from rock grab samples at surface.
Two faults, the Valley and Redline faults, extend south from the BP zone and converge with the Coho fault at the Coho zone.
Surface grab samples at the Coho zone returned values up to 15 g/t Au, 16.35% Cu, and 67.3 g/t silver (Ag)3.
Daithi Mac Gearailt, CEO of Trailbreaker, commented:“We are extremely pleased to add the Coho property to Trailbreaker’s portfolio of high-quality gold and copper exploration projects. With some ground-truthing of pad locations, the Coho zone will be drill-ready and represents an excellent prospect for a large copper-gold porphyry discovery. We would like to thank Mr. Ron Bilquist, a renowned BC prospector, for presenting us with this rare opportunity to test a well-explored, but un-drilled target.”
Location and Access
The 8,000-hectare Coho property is located 90 km north of the Town of Fort St. James, BC (see Figure 1). The property has excellent road access via Forest Service Roads throughout the claims. The property is also located 30 km west of Centerra Gold’s Mount Milligan Cu-Au porphyry deposit, a producing mine with current reserves of 1.2 B lbs Cu and 2.8 Moz Au.
The nearest First Nation communities with overlapping traditional territories in the project area include Nakazdli Whut’en (Fort. St. James area), Takla First Nation (Takla Landing) and McLeod Lake Indian Band (McLeod Lake).
Figure 1: Location of the Coho property.
History
Exploration at the Coho property dates back to the 1960s and includes property-wide soil geochemical surveys, geophysical surveys, and 2,186 meters of diamond drilling in 20 widely spaced holes. Several kilometer-scale geochemical anomalies have been defined, and narrow, high-grade copper-gold values were intersected in historic diamond drill holes. Recent exploration efforts have outlined several new copper-gold porphyry targets that remain to be drill tested. These include the Chent West, Coho West, Brooks, and Coho zones (see Figure 2).
Trailbreaker’s Coho property is contiguous with the Chuchi Project which is currently being advanced by a joint venture between Centerra Gold and Pacific Ridge Exploration. The Chuchi Project has undergone a considerable amount of exploration since its discovery in the 1960s, by companies such as Noranda, BP, and AuRico, and with over 11,000 meters of diamond drilling completed in 53 drill holes. The majority of this drilling has focused on the BP zone which represents a 1.5 km x 1.5 km area of copper-gold mineralization with a historic, non-NI 43-101 compliant resource of 50 million tonnes grading between 0.21 – 0.40% Cu and 0.21 – 0.44 g/t Au2. Significant drill intersections include: 16 m of 1.55% CuEq within 100 meters of 0.51% CuEq (1991 drill campaign), and 382 meters of 0.27% CuEq (2024 drill campaign). The BP zone sits on the north-south Valley/Redline fault structure that trends south into Trailbreaker’s Coho property (see Figure 2).
Geology and Mineralization
Trailbreaker’s Coho property covers a similar geological and mineralogical setting to the BP zone (3 km to the north) and the Mount Milligan Cu-Au porphyry deposit (30 km to the southeast). Situated within the prolific Quesnel tectonic terrane, the Coho property is underlain by Lower Jurassic volcanic and sedimentary rocks of the Takla Group intruded by Jurassic monzodiorite and syenite porphyry intrusions associated with the margin of the Hogem batholith.
The Coho property is an alkalic Cu-Au porphyry target. This type of mineralized system commonly forms in clusters which have strong potential for significant gold content. Examples of such deposits along the Quesnel terrane include: Mount Milligan, Mount Polley (measured and indicated resource of 1.25 B lbs Cu, 1.9 Moz Au4), Kemess (measured and indicated resource of 1.7 B lbs Cu, 4.4 Moz Au5), Red Chris (reserves of 8.1 Moz Au, 4.8 B lbs Cu6), and Amarc’s new AuRORA discovery in the JOY district (recent drill results include 0.98 g/t Au, 0.25% Cu over 271 m7).
The Drill-Ready Coho Zone
The Coho zone is the priority target, defined by a 650 x 550 m Cu-Au-Ag surface rock and soil geochemical anomaly hosted in diorite and spatially associated with an ENE-trending fault zone (the Coho fault) and gabbro dykes. Two additional faults, the Valley and Redline, extend south from the BP zone (Chuchi Project) and converge with the Coho fault at the Coho zone.
A total of 135 rock grab samples taken at the Coho zone from 2020 to 2022 returned the following values:
Up to 16.15 g/t Au, with an average of 0.79 g/t Ag (median 0.04 g/t)
Up to 16.35% Cu, with an average of 1.00% Cu (median 0.31%)
Up to 67.3 g/t Ag, with an average of 7.7 g/t Ag (median 2.2 g/t)
A recent (2022) airborne ZTEM (Z-axis Tipper electromagnetic) survey followed by a 2023 ground-based induced polarization (IP) survey identified an interpreted 400 m x 250 m x 200 m deep porphyry intrusive complex (3D ZTEM anomaly) with a two-limbed IP chargeability high anomaly that spans more than 1.4 km (see Figure 3). The chargeability limbs may represent phyllic alteration that commonly surrounds a potassic-altered porphyry core. The eastern limb underlies both the surface geochemical anomaly and 3D ZTEM intrusive complex identified at the Coho zone and is interpreted to represent an eastward tilted porphyry copper-gold system similar to the nearby Mount Milligan deposit.
The Coho zone is located 4.5 km south of the BP deposit and is currently interpreted to be situated along the same Valley/Redline fault structure that hosts the BP deposit. Alkalic porphyry deposits commonly occur in clusters and Trailbreaker’s team believes the Coho property, in particular the Coho zone, may represent a similar Cu-Au porphyry deposit to the BP deposit, and that this system is part of a cluster of deposits found along the margin of the Hogem batholith. The high Au grades returned from surface sampling at the Coho zone also represent the potential of a higher-grade porphyry gold system, similar to the Mount Milligan deposit (average mine grade of 0.39 g/t Au8). The Coho zone has never been drilled and remains the top priority drill target.
Terms of the Option Agreement
On May 15th, 2025, Trailbreaker signed an option agreement (the “Agreement”) with Ron Bilquist (“Bilquist”) of Gabriola, BC. Subject to the approval of the TSX Venture Exchange, Trailbreaker has the option to acquire a 100% interest in the Coho property if the following terms are met:
(a) pay to Bilquist an aggregate $380,000 as follows:
(i) $20,000 on execution of this Agreement;
(ii) an additional $25,000 on or before May 20, 2026;
(iii) an additional $35,000 on or before May 20, 2027;
(iv) an additional $50,000 on or before May 20, 2028;
(v) an additional $50,000 on or before May 20, 2029;
(vi) an additional $200,000 on or before May 20, 2030; and
(b) issue and deliver to Bilquist an aggregate 700,000 Trailbreaker common shares (“Shares”) as follows:
(i) 50,000 Shares within 10 days of the date of Regulatory Approval;
(ii) an additional 100,000 Shares on or before May 20, 2026;
(iii) an additional 150,000 Shares on or before May 20, 2027;
(iv) an additional 200,000 Shares on or before May 20, 2028;
(v) an additional 200,000 Shares on or before May 20, 2029; and
(c) complete Expenditures on the Property of $200,000 as follows:
(i) $200,000 of Expenditures on or before May 20, 2027; and
(ii) Expenditures (including the Expenditures referred to in (i) above) of $1 million or
1,500 metres of diamond drilling within 3 years of receiving a drill permit
Upon completion of the Agreement, Trailbreaker will obtain a 100% interest in the property and Bilquist will retain a total 2.0% Net Smelter Return (NSR) royalty, which may be brought down to 0.5% through a cash payment of $1,500,000 to Bilquist.
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
January 13, 2025 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the results of the Z-axis Tipper electromagnetic (ZTEM) and induced polarization (IP) surveys, at the Liberty copper (Cu) – molybdenum (Mo) project, in central British Columbia (BC).
Combined ZTEM and IP data interpretation define a central 1,600 m x 800 m area, extending to >700 m of depth, having a strong (>20 mV/V) chargeability response. The strong chargeability zone is within a larger area of moderate (>7 mV/V) chargeability, measuring 4.0 km x 3.5 km, extending to >700 m of depth. This IP chargeability anomaly is coincident with a resistive intrusive complex transecting the property from north to south, as defined by the ZTEM survey (Figure 1).
The strong chargeability anomaly has not been drill-tested. However, previous diamond drilling by Trailbreaker along the margin of the moderate chargeability anomaly returned long continuous intervals of Cu-Mo porphyry-style mineralization, including 213.7 m of 0.16% CuEq in hole LIB24-001.
ZTEM resistivity and magnetic data define two additional porphyry targets, based on mottled magnetic signatures including a central magnetic high, within the resistive intrusive complex. All three porphyry targets (P1, P2, and P3) occur ‘up-ice’ of glacially transported Cu-Mo-Ag (silver) – Au (gold) multi-element geochemical soil anomalies defined from 2024 soil sampling (see news release from September 16, 2024).
Figure 1: Oblique 3D view of IP chargeability model overlain on ZTEM resistivity model. Green areas define the >600 ohm-m intrusive complex; transparent orange outlines the >7 mV/V IP chargeability response; and solid orange defines the >20 mV/V IP chargeability response. The approximate area of previous drilling completed by Trailbreaker is circled, as well as the newly defined strong chargeability response (red dashed circle) 1.1-2.0 km to the south-southwest of the drilling area.
Message from the President
“We recognized the geological significance of our early drilling results at Liberty which suggest previous exploration defined only the margin of the potential porphyry system. This led us to take a zoomed-out approach to conduct property-scale exploration, ultimately leading to Trailbreaker identifying a much larger system than previously recognized, with multiple potential porphyry centers. The increasing chargeability response to the south of Trailbreaker’s 2024 drilling is encouraging and indicates that the system may strengthen in that direction corresponding to increased Cu grades in drill core. In addition, the ZTEM and IP surveys not only indicate a potentially large areal extent of the system, but also show great potential for vertical continuity, commencing directly below overburden.” Daithi Mac Gearailt
area of strong chargeability (>20 mV/V). This chargeability anomaly occurs within the resistive intrusive complex, where no outcrop is present. The target is ‘up-ice’ of the multi-element soil anomaly, which has been the focus of past exploration. Drilling in 2024 by Trailbreaker intersected the northern extent of the chargeability anomaly and returned long, continuous intervals of Cu-Mo mineralization. Similar ZTEM, magnetic, and geochemical characteristics to P1 occur at both P2 and P3, defining additional porphyry targets at Liberty.
Discussion of results
ZTEM surveying defined a 2 to 3 km wide intrusive complex, indicated by high resistivity values (>600 Ohm-m), that transect north-south across the property, bending southwest in southern areas (Figure 3). The intrusive complex extends for at least 12 km, and resistivity modelling suggests it extends to greater than 2 km of depth.
The intrusive complex is associated with known porphyry-style mineralization encountered in the 2024 drilling (e.g. 213.7 m of 0.16% CuEq from 248.3 m to the end of hole in LIB24-001), which is associated with a moderate IP chargeability response (7-13 mV/V) and a mottled magnetic low feature flanking a magnetic high.
Figure 3: Left: 200 m depth slice of 2D inverted ZTEM data. Strongly resistive intrusive complex is outlined, transecting the property. Multi-element soil anomalies are outlined. Right: Total magnetic intensity from ZTEM survey. Three magnetic high zones surrounded by mottled magnetic lows (P1, P2, P3), potentially caused by magnetite-destructive alteration, are outlined. All three porphyry targets occur ‘up-ice’ from multi-element soil anomalies, which are interpreted to be glacially dispersed.
Historic IP surveying covered approximately 120 hectares (ha) of prospective geology along the intrusive complex boundary. The expanded IP surveying completed in 2024 includes 32.8 line-km across 11 IP sections, covering an area of approximately 1,600 ha or >13 times greater than the area previously surveyed.
The expanded survey results indicate that the mineralization encountered in the 2024 drilling may extend 4 km in a north-south orientation and 3.5 km in a northwest-southeast orientation, and extends to depths of >700 m (Figure 4). The large area of weak chargeability response displays increasing chargeability strength toward the core area and at depth, with a central core of strong chargeability (>20 mV/V) measuring 1,600 m in length, 800 m in width, and extending to >700 m of depth. The strong chargeability response may reflect increased sulphide abundance within the large hydrothermal system.
The zone of high chargeability occurs beneath a layer of glacial till and is not exposed at surface. When accounting for glacial dispersion through ice-flow indicator measurements, it is apparent that the strong geochemical anomaly, the focus of past exploration efforts, occurs 1.0 ‑ 2.0 km ‘down-ice’ from this zone. Thus, the geochemical anomaly is likely sourced from this chargeability anomaly and has been glacially dispersed to its present location.
Figure 4: Left: 100 m depth slice of inverted chargeability data overlain on 100 m slice of ZTEM resistivity data. Note the strong correlation between the P1 magnetic target, ZTEM-defined intrusive complex, and moderate chargeability response (5-30 mV/V). The strongest chargeability (>40 mV/V) correlates with graphitic argillites that host high-grade copper veins, but the chargeability is interpreted to be caused by graphitic material rather than sulphides. The dashed line labelled ‘cross-section’ correlates to the ZTEM and IP cross-section displayed in Figure 4. Right: 300 m (top) and 500 m (bottom) depth slices of chargeability and ZTEM resistivity. Note the chargeability feature within the intrusive complex increases in strength with depth.
The large zone of moderate chargeability within the intrusive complex is strongly correlated with a mottled magnetic response, where magnetic high ‘pimples’ are surrounded by halos of low to moderate magnetic responses (Figure 3). The magnetic highs may reflect magnetite-bearing potassic alteration. The lows are interpreted to be caused by magnetite-destructive clay-sericite alteration, which may also have introduced sulphides into the system, causing the chargeability response.
Beyond the area covered by the IP survey, there are two other zones that display the same mottled magnetic features within the resistive intrusive complex. Both of these zones cover a similar porphyry-scale area and occur ‘up-ice’ of other coincident multi-element soil geochemical anomalies. This indicates potential for at least three multi kilometre-scale porphyry zones within the Liberty property. These newly identified zones are strong candidates for additional IP surveying to define the chargeability responses within.
Figure 5: East-west orientated cross-section along UTM easting 5893450, looking north, of ZTEM resistivity (top) and IP chargeability (bottom). Note the data is at different scales, with the dashed box in the ZTEM cross-section indicating the approximate area of the chargeability data. The ZTEM data potentially indicates a strongly resistive intrusive complex (>600 Ohm-m), which extends to >2,000 m below the surface. A strong chargeability (>20 mV/V) response coincident with the intrusive complex is interpreted as potential porphyry-style mineralization. On the west side of the chargeability section, a very strong chargeability response (>40 mV/V) is coincident with a low resistivity response (<100 Ohm‑m) caused by outcropping graphitic argillites that host the high-grade copper mineralization encountered in surface sampling. The structurally controlled high-grade copper mineralization may be genetically associated with porphyry mineralization at depth or laterally.
Trailbreaker contracted Geotech Ltd. (Geotech) to complete an airborne Z-axis Tipper electromagnetic (ZTEM) and caesium magnetometer survey over the entire Liberty property. The survey effectively defines the resistivity and magnetic susceptibility features across the property, which is centered on the Mesozoic intrusive complex hosting known porphyry and skarn-style mineralization.
A total of 602 line-kilometers of geophysical data were acquired during the survey, covering an area of 110 km2 with 200-metre spaced east-west survey lines and 2,000-metre spaced north-south tie-lines.
Induced Polarization Survey Parameters
Trailbreaker contracted Simcoe Geoscience Ltd. (Simcoe) to complete an induced polarization survey at the Liberty property, using Simcoe’s Alpha IP technology. The IP survey was designed to extend a historic (2011) IP survey that defined a weak to moderate chargeability high feature associated with Cu-Mo porphyry mineralization, and included surveying at a larger scale to cover the Cu-in-soil anomaly defined during 2024 fieldwork.
A total of 32.8 line-kilometers were surveyed along 11 IP lines, with 200 m to 400 m line spacings, and from 2.1 km to 3.8 km in length. The survey used an inline dipole-pole-dipole (reverse and forward 2D survey) array with a 100-metre dipole spacing. To increase depth of penetration, extra current injections were made at both ends of the profiles. The estimated depth of investigation of the survey is from 500 m to 700+ m, depending on the profile length.
Liberty Property Description
The 6,895-hectare Liberty Property is located approximately 60 km northwest of Quesnel, BC. The property is fully accessible by resource roads.
Drilling at Liberty has encountered widespread Cu-Mo porphyry-style mineralization at the northeastern margin of a property-scale Cu-in-soil geochemical anomaly, which is coincident with a kilometer-scale moderate to strong chargeability anomaly and an intrusive complex with a high resistivity signature. Highlights of drill results include:
LIB24-001 – 213.7 m of 0.16% CuEq from 248.3 m to the end of hole;
Including 13.5 m of 0.33% CuEq from 257.5 m;
And including 6.6 m of 0.67% CuEq from 300.9 m;
LIB24-003 – 194.3 m of 0.16% CuEq from 256.0 m,
including 34.2 m of 0.47% CuEq from 385.0 m,
and including 5.9 m of 2.02% CuEq from 410.2 m;
LIB24-004 – 226.0 m of 0.11% CuEq from 279.0 to the end of hole
Including 6.0 m of 0.45% CuEq from 431.0 m
And including 2.3 m of 0.36% CuEq from 500.0 m
Prospecting within the southwestern portion of the property-scale geochemical anomaly has defined an area of high-grade copper mineralization, with grab samples assaying up to 23.71% Cu. This high-grade copper mineralization is interpreted to be genetically related to a large Cu-Mo porphyry system.
For more information on this target see the Liberty Project webpage.
* Reported widths are drill widths. Insufficient geological information exists at this point to define true widths. However, vein- hosted copper and molybdenum mineralization commonly occurs at high angles to core axis.
** Copper Equivalent formula used is:
CuEq = Cu grade in % + (Mo grade in % * (Mo recovery/Cu recovery) * (Mo price/lb*2200 lb) / (Cu price /lb*2200 lb) using copper price of US$3.75/lb and molybdenum price of US$25/lb. 100% metallurgical recoveries are assumed for both metals.
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration company focused primarily on mining-friendly British Columbia and Yukon Territory, Canada. Trailbreaker is committed to continuous exploration and research, allowing maintenance of a portfolio of quality mineral properties which in turn provides value for shareholders. The company has an experienced management team with a proven track record as explorers and developers throughout the Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
Other
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Neither the 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
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
