Loyalist Exploration Limited (CSE: PNGC) has released additional grade-tonnage sensitivity information for the 2026 Mineral Resource Estimate (MRE) on its 100%-owned Tully Gold Project in the Timmins Gold Camp of northeastern Ontario. The data, derived from the independent Technical Report prepared by P&E Mining Consultants Inc., has an effective date of June 15, 2026, and was filed on the Company’s SEDAR+ profile on August 21, 2026. The Company previously announced the MRE on July 7, 2026, and the filing of the Technical Report on August 21, 2026.
The sensitivity analysis is based on mineralized material within stope shapes generated using a 1.1 g/t Au cut-off grade and a minimum mining width of 1.25 metres. It presents grade-tonnage sensitivities for underground Mineral Resources using a range of reporting cut-off grades from 1.0 to 3.0 g/t Au. The Company is releasing this information as it will factor into the approach to the Preliminary Economic Assessment (PEA) currently underway on the Tully Project. The PEA, being prepared by P&E, will evaluate potential underground mining scenarios, including the impact of different cut-off grades and mining constraints on recoverable material.
“The grade-tonnage sensitivity data provides important additional insight as we advance the Preliminary Economic Assessment on Tully. It illustrates how the resource responds to higher cut-off grades within the stope shapes generated at the base-case 1.1 g/t Au cut-off and 1.25-metre MMW, and highlights the presence of a higher-grade core that remains robust even at elevated cut-offs. This information will help us evaluate different underground mining scenarios and optimize the approach to the PEA. We continue to view Tully as a high-quality asset in the Timmins camp with a solid resource base and clear development potential,” said the Company.
The base-case MRE reported in the Technical Report, at a 1.1 g/t Au cut-off grade without the additional stope-width constraint, consists of an Indicated Mineral Resource of 1.62 million tonnes grading 3.16 g/t Au containing 164,000 ounces of gold, and an Inferred Mineral Resource of 0.95 million tonnes grading 2.03 g/t Au containing 62,000 ounces of gold. The sensitivity table, available in the original release on www.newmediawire.com, is for illustrative purposes only and does not constitute a new or updated MRE.
The scientific and technical information has been reviewed and approved by Curtis Ferron, P.Geo., and Eugene Puritch, P.Eng., both independent Qualified Persons under NI 43-101. The MRE and sensitivity data were prepared by Charles Spath and Eugene Puritch of P&E. A detailed Table 1: Tully Gold Project – Sensitivities of Underground Mineral Resource Estimate accompanies the release.
This announcement matters because the sensitivity data provides investors and industry observers with a clearer view of how the Tully resource responds to varying cut-off grades, which is critical for assessing potential underground mining scenarios. The presence of a higher-grade core that remains robust at elevated cut-offs could enhance project economics and support the PEA’s evaluation of optimal mining approaches. However, Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The PEA is at an early stage, and there is no assurance that it will be completed on the timeline or terms currently contemplated, or that its results will be positive. Readers are cautioned not to place undue reliance on forward-looking information.
