Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Sasquatch Resources Corp. (CSE: SASQ) ("Sasquatch" or the "Company") is pleased to provide updates surrounding its Mount Sicker project ("Mount Sicker" or the "Project"), located near Duncan, British Columbia on Vancouver Island.
Highlights (expanded below) are as follows:
On Saturday, May 24th, an event organized by The Geological Association of Canada - Pacific Section, was held at Mount Sicker, and attended by 25-30 geologists, government representatives, students and other interested parties.
Okane Consultants and Ecofish Research have been retained to assist Sasquatch in advancing the Project, and both groups have now completed property visits to the Mount Sicker site.
A detailed waste rock volume survey has been completed on the two main waste areas at Mount Sicker (the Tyee and Lenora piles) by Kenyon Wilson, and a legal survey of the site is underway as required to convert the Mount Sicker mineral claim into a mining lease.
Acid testing was completed on material previously used for an ore-sorting test run performed by Tomra Systems ASA, with both waste and post-sorted material tested separately, and results were highly promising, showing enormous potential environmental benefits in completing the planned processing.
The Company has been progressing with permitting, communicating with local government and First Nations, and on April 7, a meeting with the British Columbia Ministry of Mining and Critical Minerals (the "Ministry") was held to discuss progress at Mount Sicker.
Geological Tour of Mount Sicker by Geologists, Government Representatives, and Students
The tour was originally envisioned as a student field-trip, but it picked up a great deal of outside interest and became a much broader event, and in the end was organized mainly through The Geological Association of Canada - Pacific Section. There were a number of senior geologists, government employees/representatives, students and other interested parties in attendance (including one member of the local North Cowichan City Council). Sasquatch has already received referrals from those in attendance to assist in moving the Project forward.
The message surrounding the Company's goals at Mount Sicker was simple – separate and remove high sulphide material in the waste rock piles, including the gold, copper, silver and zinc, but also environmentally harmful elements such as arsenic, lead and sulphur, and engage a reclamation strategy that allows nature to return to the Project site, while also taking steps to address existing hazards.
The Project seemed to receive universal approval by those on the tour, and a local news reporter covered the event (with a link to the resulting story provided below).
Justin Devault, Sasquatch Board member, commented: "This event shows not only the positive local interest in Mount Sicker, but also its importance as a project, as it could produce a positive impact for mining in Canada generally, and particularly on Vancouver Island. If we can get needed approvals, the people of the Cowichan Valley will see first-hand the impact a simple clean-up operation can have on a legacy mining site that has otherwise remained a dangerous and unsightly hazard for the past 120 years. It's certainly worth mentioning that while this is primarily a reclamation project, there is a great deal of gold, copper, silver and zinc in the waste rock piles, and the waste left behind from historical mining is indeed vast. This Project could end up serving as an example of what new, modern mining methodology can do to profitably and responsibly restore legacy mining sites nation-wide."
Consulting Groups Retained
To assist in advancing permitting, designing and implementing water testing programs, and completing an effective reclamation strategy for the Project site, the Company has retained both Okane Consultants ("Okane") and Ecofish Research ("Ecofish"). Both groups have already completed site visits at Mount Sicker and have provided invaluable assistance thus far.
From their web-site: "Okane helps mining companies to return the land responsibly and safely at the end of a mine's lifecycle. We believe in challenging the status quo and advocate for meaningful partnerships and positive outcomes for community stakeholders and Indigenous rightsholders. Our solutions help our clients achieve positive financial, environmental, and social outcomes from feasibility through to relinquishment." Okane has over 100 employees based in Canada, the USA, Australia and New Zealand, and works on projects large and small all over the world.
From the Ecofish web-site: "We offer a broad range of trusted environmental assessment, monitoring, mitigation, offsetting and design services - delivered using a proven, science-based approach. It's an approach that appeals to clients in industry, government and First Nations: we are a well-known and well-trusted environmental consultancy. We now have a team of over 180 scientists and other professionals capable of working on projects around the world."
The Company looks forward to continued collaboration with these outstanding groups as we navigate through the permitting process.
Waste Rock Volume Survey
A detailed survey of the two main waste piles at the Project, Tyee and Lenora, was completed by Kenyon Wilson and they have now started on a legal survey of the Project site which is one of the requirements to convert the claim area to a "mining" lease. The volume survey estimates there are just under 100,000 cubic meters of waste material and does not include substantial waste dumps located near the former Richard III mine nor a number of other areas that have waste rock material. Further surveys are planned for those areas as we assess the full breadth of the prospective Project area with permitting.
Acid Testing Results
The Company performed acid testing on a variety of waste material at Mount Sicker, including on straight waste (feed samples) and rejected low-sulphide waste (material which would not be removed from the Project site and instead would be used in reclamation). The results were very promising and provided early validation that the proposed process could be highly effective in removing the vast majority of not only gold, copper, silver and zinc, but also any additional contaminants that currently pose environmental threats. More details will be released once a full processing report has been completed by engineers.
Permitting Progress and Local Government and First Nations Consultation
The Company has been advancing towards permitting at Mount Sicker on various fronts. After making an initial preliminary submission to the Ministry in 2024, the Company has been working with a number of specialized groups, including Okane, Ecofish and Kenyon Wilson as noted above, to compile and provide further information respecting the Project and the proposed on-site activities to the Ministry.
In addition, over the past several months, Sasquatch has been reaching out to local MLAs and MPs, to the City of North Cowichan, and to local First Nations groups to keep everyone as informed as possible about progress at Mount Sicker. Presentations have been given to North Cowichan City Council and to Halalt First Nation elders, among others, and thus far feedback has been highly constructive. In the case of North Cowichan City, the council voted to unanimously approve support. The Company hopes to complete site tours and continue positive consultations over the coming months.
On April 7, the Company met with the Ministry to provide an update on progress at Mount Sicker, and the Company has committed to keeping the Ministry informed as the permitting process continues.
About Sasquatch Resources Corp.
Sasquatch Resources Corp. is a mineral exploration company focused on its Mount Sicker Property in southern Vancouver Island, British Columbia, the Blue Grouse Property, located about 30km from the Mount Sicker Property on the south side of Lake Cowichan, and the Santana Property (the area known as the former Santana mine) on Quadra Island, British Columbia.
The Company owns its interest in the Mount Sicker Property outright, subject to an aggregate 2% net smelter returns royalty, half of which Sasquatch can repurchase by issuing an aggregate of 500,000 Sasquatch common shares to the royalty holders. Sasquatch has the irrevocable right and option until July 2030 to conduct exploration on the Blue Grouse Property and to remove and process minerals from the surface and near-surface, including without limitation from the mineral "waste rock" and near-surface exposures up to a depth of 10m from surface. The Company owns its interest in the Santana Property outright.
For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at psmith@sasquatchresources.com or by telephone at 778.999.7030.
On Behalf of the Board of Directors,
Peter Smith Chief Executive Officer 778.999.7030
Forward-Looking Information Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of its mineral properties, the proposed work programs on its mineral properties and the potential and economic viability of its mineral properties. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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