Manhattan Gold Extends Jaws Gold Mineralisation by 290m and to 223m Depth

Significant Expansion of Jaws Gold System

Manhattan Gold Corporation Limited (ASX:MHC) has reported a substantial expansion of its Jaws gold target within the Hook Lake Project in Nunavut, Canada. Recent reverse circulation drilling has extended the gold-bearing system by more than 290 metres northeast, pushing the drill-tested strike length to 588 metres. Notably, mineralisation now reaches a vertical depth of 223 metres, well beyond the historic drilling depths from the 1980s.

Key intercepts include a standout 15.24 metres at 5.35 grams per tonne (g/t) gold from 35.05 metres downhole, nested within a broader 74.67-metre interval averaging 1.61 g/t Au. Another highlight is 7.62 metres at 7.05 g/t Au from 82.3 metres, confirming continuity of high-grade zones near surface and at depth. These results reinforce the presence of a substantial, shallow gold system that remains open along strike and at depth.

Drilling Validates and Extends Historic Resource Footprint

The Jaws target hosts a historic “foreign” resource estimate of approximately 285,000 ounces of gold at 2.38 g/t over 3.4 million tonnes, which is not reported under JORC standards. Manhattan’s 2026 drilling campaign has not only confirmed but also improved upon the thickness and grade compared to the 1980s data. Drillhole JWS26008, for instance, intersected 51.82 metres at 1.88 g/t Au starting from 47.24 metres, including a high-grade 7.62-metre section at 7.05 g/t Au.

Importantly, JWS26008 confirmed gold mineralisation commencing right from surface with 41.15 metres at 1.06 g/t Au, and extended mineralisation down to 223 vertical metres, significantly deeper than previous drilling. Meanwhile, JWS26010 expanded the gold-bearing vein system over 290 metres to the northeast, uncovering new exploration ground beyond historic limits.

Technical Insights and Ongoing Work

Technical advisor Eric Sondergaard highlighted the convergence of grade, width, and scale at Jaws, noting the system remains open and is gaining clarity through pathfinder elements arsenic, antimony, and tungsten. With 14 drillholes pending assay, a strong pipeline of results is anticipated to further delineate the system.

Metallurgical test work is advancing with samples selected for dispatch, laying groundwork for future technical studies. Concurrently, a regional till sampling program is underway to cover strike extensions from Jaws to other prospects like Omega and Moonraker, guided by the pathfinder element signature and recent magnetic survey interpretations.

Hook Lake Project’s Strategic Position

Hook Lake covers 665 square kilometres within the Rankin-Ennadai greenstone belt, a prolific Canadian gold province hosting notable deposits such as Agnico Eagle’s Meliadine mine. Jaws remains the most advanced target, but the project also includes several untested prospects like Quantum and Lotus, which have yielded high-grade surface samples up to 16.75 g/t Au.

The geological setting features mafic to felsic volcanic rocks and banded iron formations, with multiple regional shear zones controlling mineralisation. The project’s tenure includes long-term mineral exploration agreements with Nunavut Tunngavik Incorporated, ensuring stable access and community partnerships.