In February of 2025, Precore Gold Corp signed a Definitive Option Agreement with a private owner to acquire a 100% undivided interest in the Lac Big-Rush Property (the “Property”), located in a highly prospective area within the Chibougamau Mining Camp of Quebec, Canada (see press release dated February 4, 2025). On February 5, 2026, Precore completed the acquisition of the property by accelerating the terms of its Agreement to immediately own 100%.
Precore Gold’s Lac Big-Rush property presents interesting gold discovery upside for the Company, given a recent noteworthy sector M&A transaction within the region, namely Iamgold Corporation completing the acquisition of Northern Superior Resources Inc. on December 19, 2025, to create the “Nelligan Mining Complex”, one of the largest pre-production gold camps in Canada, with Measured & Indicated Mineral Resources of 3.75 Moz Au and Inferred Mineral Resources of 8.65 Moz Au. The close proximity of Iamgold’s primary deposits to each other supports the conceptual vision of a central processing facility within the Chibougamau camp, that could be fed from multiple ore sources within a 17-kilometre radius (Iamgold, October 20, 2025).
Location
The Lac Big-Rush property is part of the Chibougamau Mining Camp, which has a total metal endowment of 1.6 billion pounds copper lbs Cu and 3.2 Moz gold mined since the 1950’s, mostly from underground mines (1). The property location, along the east-west Faribault and Croteau inverse faults and shears, is included in a gold bearing area, and lies adjacent to the west by Iamgold’s Croteau Project.
Geology and Historical Data
The property is composed of 40 claim units covering approximately 2,214 hectares and is located on the Eeyou-Istchee Baie-James territory. The Property is approximately 32 kilometers from the town of Chibougamau, accessible year-round via highway 113 and then by well-travelled gravel roads (see Figure 2).
The property geology is characterised by basalt, amphibolite interlayered with gabbro sills of the Bruneau Formation. Precore’s Lac Big-Rush Property is located along the east-west Faribault and Croteau inverse faults and shears, and is included in a gold bearing area, neighboring to the west of Iamgold’s Croteau Project, which hosts the Croteau deposit, which has an Inferred near surface resource of 640,000 oz at 1.73 g/t, located a mere 300 meters from Precore Gold’s property boundaries (see Figure 3).
The Lac Big-Rush property has had limited exploration work performed from the early 1950’s until the early 1980’s, when Noranda drilled approximately 10 diamond drill holes (“DDH”). According to public records, about 20 DDH were drilled on the property since early 1950’s and before 1986. Two historical gold showings, Tadd and Croteau West, are listed in the Province’s Sigeom database.
The Tadd showing (UTMnad83Z18 527390E, 5536868N) is interpreted as a 2.3 meters wide mineralized quartz vein on average followed over 50 meters of strike length. The mineralized structure has an east-west orientation and is strongly dipping. Two drilled results returned 7.2 and 5.3 grams per tons over 0.7 metres from DDH BG 84-4 (Sigeom). Gold values are hosted in gabbro affected by iron carbonate pervasive alteration (Sigeom).
The Croteau showing (UTMnad83Z18 528680E, 5536628N) located about 2.6km east of the Tadd showing is an outcropping mineralized occurrence. A channel sample returned 3 g/t Au over 1.5 meters during Cree Mineral Exploration Board 2018 prospecting program (assessment report GM-71214).
The Company will undertake a detailed review of historical works before mobilizing resources on the ground.
The scientific and technical content of this information has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), Director & Lead Technical Advisor of Precore Gold, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects..
(1): Technical Review & Evaluation of the Exploration Potential of the “Lac Chibougamau” Mining Properties, in McKenzie, Roy, Obalski and Lemoine Townships, Abitibi Mining District, Province of Québec NTS 32G16, for Chibougamau Independent Mines Inc. and Globex Mining Entreprises Inc. Larouche C., 2012.
(2): https://www.iamgold.com/English/home/default.aspx
Current Exploration Work
Precore Gold is currently planning exploration work for the second half of 2026 and is excited to uncover the property’s value.