FIN Resources Secures A$3.75M to Unlock High-Grade Gold at Cabin Lake

Strategic Capital Raise Fuels Exploration Ambitions

FIN Resources Limited (ASX – FIN) has successfully completed a A$3.75 million placement to sophisticated investors, underpinning its imminent maiden diamond drilling program at the recently acquired Cabin Lake Gold Project in Canada’s Northwest Territories. The placement, priced at A$0.01 per share, was strongly supported, reflecting market confidence in the company’s exploration strategy and the project’s potential.

The funds will primarily finance a 1,500-metre drilling campaign designed to test shallow, high-grade gold mineralisation along a largely underexplored 15-kilometre corridor of the Bugow Iron Formation. This corridor hosts multiple historic intercepts of significant grade, including a standout 31.4 metres at 15.2 grams per tonne gold from just 17.5 metres depth, highlighting the project’s open-pit potential.

Drilling Program and Technical Approach

Scheduled to commence in early March 2026, the drilling program will be managed by Aurora Geosciences, a respected Canadian consultancy with extensive regional experience. The campaign will deploy oriented diamond core drilling combined with downhole geophysical surveys to gather detailed structural and geological data. This approach aims to refine the understanding of the controls on gold mineralisation, such as folding and faulting within the iron formation.

Beyond confirming historic high-grade zones, the program will systematically test eight fully permitted, high-priority walk-up drill targets identified through integrated geological, magnetic, and induced polarisation surveys. These targets represent both extensions of known mineralisation and new greenfield opportunities, offering significant upside potential.

Project Location and Community Engagement

Cabin Lake is situated in a Tier-1 mining jurisdiction approximately 105 kilometres northwest of Yellowknife, benefiting from established infrastructure and strong local partnerships. Notably, FIN has secured an existing access agreement with the Tłı̨chǫ Government, ensuring collaborative engagement with First Nations communities for on-ground activities.

The company is awaiting the assignment of a Land Use Permit, currently under public review, expected to be finalised by late February 2026. Regardless of the permit timing, drilling operations are planned to proceed as scheduled, supported by the construction of a winter ice road and establishment of exploration camp facilities.

Looking Ahead

With the acquisition of Cabin Lake expected to complete imminently, FIN Resources is well positioned to deliver near-term news flow from its drilling results. The company’s strategic focus on high-grade, near-surface gold targets within a proven mineralised system could unlock significant value for shareholders. Meanwhile, ongoing geological interpretation and exploration across its broader portfolio will continue to complement this flagship project.