T2 Metals Announces NI 43-101 Mineral Resource Estimate at the Sherridon Copper-Zinc-Gold-Silver Project, Manitoba, Canada
Press Release
T2 Metals Announces NI 43-101 Mineral Resource Estimate at the Sherridon Copper-Zinc-Gold-Silver Project, Manitoba, Canada
Vancouver, British Columbia – May 7, 2026: T2 Metals Corp. (“T2 Metals” or the “Company”) (TSX-V: TWO) (OTCQB: TWOSF) (FRA: WJ6) is pleased to announce the results of an independent NI 43-101 Mineral Resource Estimate (“MRE”) for its Sherridon Copper-Zinc-Gold-Silver Project (“Sherridon” or the “Project”) in the Flin Flon–Snow Lake Greenstone Belt of west-central Manitoba. The substantial Inferred and Indicated Mineral Resources at shallow depth defines Sherridon as a leading copper development opportunity in central Canada.
The MRE encompasses four near-surface, copper-dominant volcanogenic massive sulphide (“VMS”) deposits: Bob, Cold Lake, Lost Lake and Jungle (Tables 1a & 1b). Together these deposits form part of a well-defined mineralized horizon that has been traced for over 25 km of strike length at Sherridon.
The historical Sherritt Gordon East and West Mines — which produced 7.74 million tonnes grading 2.46% Cu, 2.84% Zn, 0.6 g/t Au and 33 g/t Ag between 1931 and 1951 (Goetz, P.A. and Froese, E., 1981) — are interpreted to lie on the same mineralized horizon as the four deposits now defined in this MRE, providing strong geological validation of the camp’s high-grade and future exploration potential.
Highlights
- Total Indicated Mineral Resource of 10.04 million tonnes (Mt) grading 0.39% Cu, 0.83% Zn, 0.30 g/t Au and 4.75 g/t Ag (equal to 1.0% CuEq*1) (see Table 1a);
- Total Inferred Mineral Resource of 18.15 million tonnes grading 1.08% Cu, 1.00% Zn, 0.27 g/t Au and 7.05 g/t Ag (equal to 1.7% CuEq*1) (see Table 1b);
- Mineral resources in the Indicated category exceed 35% of total resource, demonstrating a high degree of confidence;
- Project contains 86 million lb of copper and 96,000 oz of gold in the Indicated category and 430 million lb of copper and 158,000 oz gold in the Inferred category;
- Most mineralization is accessible within shallow open pits. High-grade near-surface mineralization at Cold Lake and Lost Lake deposits provide excellent near-term mining opportunities;
- Three of the four deposits — Bob, Cold Lake and Lost Lake — remain open along strike and at depth where significant expansion upside has been identified. Jungle has been partially drill constrained;
- Past mining data and more recent drill intercepts which include 23.50 m @ 1.18% Cu, 6.8 g/t Au, 40.4 g/t Ag and 1.46% Zn (SH23005) demonstrate very high-grade potential;
- Historical drilling data for the Park deposit has been recently received from Hudbay Minerals which is now being reviewed as an additional resource calculation opportunity;
- Scale and grade of the MRE supports advancement of Sherridon to a Preliminary Economic Assessment (PEA);
- T2 Metals gratefully acknowledges the financial support of the Manitoba Mineral Development Fund (“MMDF”), which provided C$75,000 in co-funding support for the mineral resource estimation program.
CuEq*1 (copper equivalent) = Cu% + (Zn% × 0.2346) + (Au g/t × 0.00721) + (Ag g/t × 0.00008). See Table 1 for full details of methodology.
Sherridon is located only 65 km from Flin Flon (Figure 1) and 120 km from the McIlvenna Bay development project — recently the subject of a C$3.8 billion acquisition of Foran Mining by Eldorado Gold. Sherridon has year-round road access and an active rail line passing the property, a rare logistics advantage for future development. Deposits are all sited within 8 km of the Sherridon Village where historical mining took place (Figure 2).
Mark Saxon, President and CEO of T2 Metals, commented, “This NI 43-101 resource at Sherridon confirms what we have long believed, that this is a robust VMS system with scale, grade, and clear growth potential. Importantly, we are not dealing with a single isolated deposit, but a camp with multiple mineralized centres. To date all seven deposits have been discovered in outcrop – we are very confident more deposits will be discovered at depth.
Cold Lake, Lost Lake, Jungle and Bob collectively provide a strong foundation for development, and we see clear opportunities to expand these resources with further drilling. With this initial resource in hand, we are well positioned to advance Sherridon to the next stage. I thank our exploration team and our partners, the Kiciwapa Cree Nation, for supporting us to achieve this milestone.”
Janessa Kosar North, CEO of the Kiciwapa Cree Nation, said, “The Kiciwapa Cree Nation is very pleased to see the progress being made by T2 Metals and supports the advancement of the Sherridon resource. We value the respectful and collaborative relationship that we have built with T2 Metals and look forward to continuing to strengthen that relationship as the project moves forward. This project holds real potential, and we are optimistic about the opportunities it can bring to our community.“
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