How FIN Resources Upgraded Cabin Lake’s Gold Assays Without New Drilling

Background and Context

FIN Resources Limited (ASX – FIN) has delivered a compelling update on its Cabin Lake Gold Project in Canada’s Northwest Territories, a region known for its rich gold endowment and stable mining jurisdiction. The company’s 2025 due diligence program focused on re-sampling historical diamond drill core from previous campaigns conducted between 2020 and 2022, alongside targeted new sampling of previously unsampled core. This approach allowed FIN to validate and enhance the existing dataset without the immediate need for new drilling.

Key Findings from Re-Sampling

The re-sampling results have been highly encouraging, confirming the reliability of historical assays and, in some cases, upgrading key intercepts. Notably, drill hole CL-20-08 returned an upgraded intercept of 31.4 metres at 15.2 grams per tonne (g/t) gold from 17.49 metres, compared to the historic 31.4 metres at 13.8 g/t. Similarly, CL-20-03 showed a slight increase to 13.6 metres at 7.3 g/t gold. These results reinforce confidence in the grade continuity and scale of the gold system at Cabin Lake.

Broader Mineralisation and Upside Potential

Beyond confirming high-grade zones, FIN’s targeted sampling of previously unsampled core, particularly at the Andrew South Prospect, revealed broader and more continuous mineralisation than historical selective sampling had suggested. This finding points to the potential for wider mineralised zones and highlights the value of disciplined geological analysis in extracting new insights from existing data. Additionally, sampling of un-sampled 2022 drill core from the Arrow Prospect identified anomalous gold mineralisation, suggesting opportunities to extend mineralisation along strike and at depth.

Geophysical Integration and Drill Targeting

FIN has integrated petrophysical testing of drill core with remodelling of historic magnetic and induced polarisation (IP) geophysical datasets. This integration has refined exploration targeting by identifying sulphide-rich zones associated with gold mineralisation within the Bugow Iron Formation, a key host stratigraphy. The consistent magnetic and IP signatures provide a robust framework for prioritising high-confidence drill targets across the 15-kilometre mineralised corridor.

Looking Ahead – Maiden Drilling Program

With the geological model strengthened and drill targets prioritised, FIN is preparing to commence its maiden diamond drilling program at Cabin Lake in early March 2026. The program will cover approximately 1,500 metres and aims to test the high-priority targets identified through the integrated geological and geophysical work. Importantly, FIN has engaged proactively with the Tłı̨chǫ Government and local stakeholders, securing supportive relationships that will facilitate safe and efficient exploration activities.

Strategic Significance

Cabin Lake offers a fully permitted, drill-ready gold asset in a Tier-1 jurisdiction, with a proven host stratigraphy analogous to other significant gold deposits in the region. The project’s near-surface high-grade intercepts and extensive exploration potential position FIN well to advance its resource base. The disciplined approach to re-sampling and data integration exemplifies how the company is maximising value from historical data before committing to capital-intensive drilling.