Sasquatch Resources Provides Corporate Update
Press Release
Vancouver, British Columbia – March 1, 2026 – SASQUATCH RESOURCES CORP. (CSE: SASQ) (“Sasquatch” or the “Company“) is pleased to provide a corporate update, summarizing some significant milestones that have occurred in relation to its pipeline of potential waste rock and other properties.
Highlights include:
- Permitting progress on the Company’s most advanced project at Mount Sicker, with an engineering report having now been completed by a qualified engineering company, as well as a preliminary reclamation overview or “path to closure” having been completed by Okane Consultants – permitting materials including an updated comprehensive Project Description having been submitted for regulatory review.
- Progress with the analysis of waste piles at Mount Sicker, including a 97 sample surface sampling program, deeper pile sampling to 2-3 meters in 30 locations, and a detailed, professional survey of the waste piles completed by Kenyon Wilson Surveyors of Duncan, BC.
- Completion of an XRT ore-sorting test program on samples from Mount Sicker, with further metallurgical testing to be completed in coming months to help determine the best offtake terms for the high-sulphide product.
- Positive ongoing community consultations surrounding the proposed waste rock and reclamation project at Mount Sicker, including with North Cowichan City Council and local First Nations groups.
- Ongoing expansion of the potential project pipeline to follow Mount Sicker, including Blue Grouse, Copper Road, Santana, Slesse, and the new Alberni Claims.
- New discovery potential is “built in” to a number of the waste rock projects, including at Copper Road, Slesse, Santana, and the New Alberni Claims.
- Key additions to the board of directors and advisory board, specifically Andy Holloway. P.Eng. (metallurgist), as a director of the Company and Jillian Doucette, founder of Synergy Enterprises (“Synergy”), to the advisory board.
- New agreements/arrangements with (1) Synergy to investigate potential provincial, federal and research-based funding sources/grants, as well as to analyze environmental efficiencies inherent in our waste rock process, (2) SOMA Public Relations to engage in investor outreach, and (3) Okane Consultants to complete a detailed reclamation/closure plan for Mount Sicker.
- Execution of an MOU with a BC University, outlining mutual co-operation to facilitate research and learning at Mount Sicker, and to potentially collaborate on the creation of a “legacy mine site restoration centre” at Mount Sicker.
The Strategy
Sasquatch is primarily focused on legacy mining sites and mineralized logging/mining roads, and the potential to recover high-grade mineralization from historical mine waste dumps while also rehabilitating the site and addressing hazards left behind. This approach is intended to be a win-win for all stakeholders, in that it addresses some serious ongoing environmental liabilities while allowing the Company to recover waste rock containing gold, silver, copper and other valuable elements sitting right at surface. A natural secondary focus for Sasquatch is the larger sub-surface potential that may still exist at or near some of these sites.
Legacy mine sites with related waste rock piles and logging roads built through mineralized rock have the potential to leach acid and heavy metals into the environment. Sasquatch’s proposed approach to rehabilitation includes zero discharge mineral sorting processes that can separate high-sulphide material from benign rock. The separated sulphides, which may contain critical minerals and other valuable elements like copper, gold, silver and zinc, but also potentially environmentally harmful materials such as lead, sulphur and arsenic, would be removed and sold to a toll processor. The low/no sulphide material remaining at the associated site would then be properly reclaimed and made safe, and would be more amenable for future use and/or more encouraging of new natural growth.
Permitting Progress at Mount Sicker
Sasquatch’s longest held and most advanced project is Mount Sicker, held since 2022, and the site of significant historical mining (mostly occurring between 1895 and 1915), with an estimated 300,000 tonnes or more of waste rock still remaining and piled at surface. Over the past few years the Company has taken steps to ascertain the approximate overall volume of waste rock and the corresponding grades for gold, silver, copper and zinc within the waste rock (see March 27, 2024 news release), has conducted testing to assess the potential for ore sorting and recovery of higher grade waste (see October 9, 2024 news release), and has initiated engagement with the BC Ministry of Energy, Mines and Low Carbon Innovation (the “Ministry”) to explore permitting for the removal of the high grade waste and reclamation of the site (see May 27, 2025 news release).
More recently, the Company has received a scoping level engineering report which outlines the planned process for separating sulphide mineralization from waste rock, as well as a “path to closure” reclamation report, describing a high-level plan for reclamation and closure of the site. These reports, together with an updated comprehensive Project Description, have been submitted for consideration to obtain a permit to remove the high-sulphide material under a Notice of Work application. Progress under this application will be updated as we move forward, but it is important to note that this permit application represents a relatively novel permitting pathway. While bulk sampling and full mining applications are well understood, this current process, best described as a “waste rock reclamation application”, falls somewhere in between these two. No new mining is contemplated, as well as no corresponding need to establish new waste/tailings areas; however, the volume of sorting and removal contemplated go far beyond a more straight-forward bulk sampling permit. Once a mutually acceptable application process has been determined, it is expected that future similar permits might be obtained more efficiently in the future, which could have much broader implications for the province. By establishing a waste rock reclamation framework, more companies will presumably make and/or accelerate plans to address legacy mine sites and other mining waste opportunities.
Waste Rock Analysis at Mount Sicker
Sasquatch has taken a number of steps to gain a better understanding of the volume and grades within waste piles at the Mount Sicker legacy site, including:
- In 2024, 97 Samples taken on a designed grid, covering the majority of the piles, which returned averages of 1.86 g/t gold, 48.6 g/t silver, 1.22% copper and 3.05% zinc respectively*. See news release dated March 27, 2024 for further information.
- More recently in 2025, 30 deeper samples were taken from hand/auger dug holes, between 2 and 3 meters deep at various locations throughout the piles, with average grades at 3.95 g/t gold, 79.17 g/t silver, 3.25% copper and 5.72% zinc*. See news release dated December 31, 2025 for further information.
- Kenyon Wilson Surveyors, of Duncan, BC, completed a detailed survey of the majority of the waste piles at Mount Sicker in 2025, concluding that approximately 300,000 tons of waste is present. Some peripheral parts of the waste area have not yet been surveyed, but those areas are being completed and it is anticipated the survey will be updated with some additions to the final volume estimate. The estimate of overall waste volume By Kenyon Wilson roughly aligns with accounts from historical mining records at Mount Sicker, which similarly suggest 300,000 to 350,000 tons waste should be present.
* Note, “averages across all samples” may not be indicative of averages across the entire waste pile. The potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Ore-sorting Test Program at Mount Sicker
In late 2024, the Company collected a 528 kg sample from four separate locations within the waste-rock area and shipped it to a TOMRA test-lab in Germany. The sample was run through full-scale sorting apparatus similar to that which is expected to be used if the project proceeds.
The particle sorting technology scans waste rocks using X-ray transmittance (XRT) sensors to identify and sort high-density, high-sulphide material classified as contaminant rocks from lower-density, host rocks. The host rocks typically contain lower levels of sulphide mineralization, making them non-acid generating (“NAG”) and suitable for reclamation.
The high-sulphide material generated by the TOMRA sorting test was shipped back to Canada for assaying by ALS to gain a better understanding for the grades and volumes that might be expected to be shipped off Mount Sicker for further processing.
Overall, 58% of the coarse material tested at TOMRA was classified as “high-grade”. The separated high-grade material from the 528 kg sample, assayed 6.43 g/t gold, 180 g/t silver, 4.92% copper, and 8.70% zinc. Although this result is considered very positive, it should be noted that the waste pile is expected to be quite heterogeneous, and there will be pockets that reflect higher and lower head grades for the sorter, which in turn will impact the sorting machine’s performance. However, this 528 kg test sample, as noted collected from four different areas within the waste pile, provides a good starting point from which some further assumptions and adjustments can be made. If the project proceeds, the sorting process is able to make field adjustments to account for feed material that appears to have higher or lower starting head grades, which should optimize the efficiency of the sorting process. The results were very promising in that they provided early validation that the proposed process concept could be highly effective in separating/removing the vast majority of not only gold, copper, silver and zinc, but also any additional contaminants that currently pose environmental threats. See news release dated October 9, 2024 for further information.
The Company also 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). Importantly, the test provided early validation that high-sulphide waste at Mount Sicker is in fact acid generating, while sorted “rejects” were found to be non-acid generating.
Community and First Nations Consultations
Sasquatch has presented its plans at Mount Sicker to the North Cowichan City Council, which has provided a letter of support for the project, subject to engagement and support from affected First Nations.
Since 2024, the Company has maintained regular communication with locally impacted First Nations. This has included site tours for representatives, as well as presentations to First Nations elders and councils.
Feedback to-date has been constructive and generally very positive. The Company is working toward establishing a Memorandum of Understanding (“MOU”) to formalize ongoing First Nations collaboration and input for all aspects of the project, including input into final rehabilitation and closure plans.
Expansion of Future Waste Rock Project Pipeline
Sasquatch has compiled and is currently developing the following waste rock projects, all located a relatively short distance from Duncan, BC:
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