Sherridon – Canada

Overview

The Sherridon Project is T2 Metals’ flagship copper-zinc-gold-silver project located in the prolific Flin Flon–Snow Lake VMS district of central western Manitoba. In May 2026, T2 Metals announced an inaugural NI 43-101 Mineral Resource Estimate comprising 10.04 million tonnes of Indicated Resources grading 1.0% CuEq and 18.15 million tonnes of Inferred Resources grading 1.7% CuEq, establishing Sherridon as a significant emerging copper development project in central Canada. The resource is defined across four near-surface deposits — Bob, Cold Lake, Lost Lake and Jungle — all located within an infrastructure-rich mining district with road, rail and grid power access.

A Historic Mining Camp with Modern Discovery Potential

Sherridon is home to the historic Sherritt Gordon mining camp, which produced approximately 7.74 million tonnes grading 2.46% copper, 2.84% zinc, 0.6 g/t gold and 33 g/t silver. The newly defined mineral resources occur along the same mineralized horizon that hosted the historic mines, validating the district-scale potential of the project. T2 Metals has now outlined multiple deposits along a well-defined VMS trend that extends for more than 25 kilometres, highlighting both the scale of the mineralized system and the opportunity for future resource growth.

Multiple Deposits, Significant Growth Potential

The Sherridon Mineral Resource Estimate encompasses four copper-dominant volcanogenic massive sulphide deposits: Bob, Cold Lake, Lost Lake and Jungle. Three of the four deposits remain open along strike and at depth, while numerous additional exploration targets have been identified through drilling and geophysical surveys. Importantly, all seven known deposits within the project area were discovered at surface, reinforcing management’s belief that additional discoveries remain to be made beneath shallow cover and at depth. The nearby Park deposit is also being evaluated for inclusion in future resource estimates, providing another potential avenue for growth.

Infrastructure Advantage

Few undeveloped copper projects in Canada benefit from the infrastructure available at Sherridon. The project is located approximately 65 kilometres from Flin Flon and is accessible year-round by road. An active rail line passes directly through the property, providing access to smelters, processing facilities and ports. The project also benefits from nearby communities, an experienced mining workforce and access to Manitoba’s predominantly hydroelectric power grid. These advantages have the potential to reduce future development costs and timelines while enhancing the project’s long-term economic attractiveness.

Advancing Toward Development

With a substantial NI 43-101 compliant resource now established, T2 Metals is advancing Sherridon toward the next stage of project evaluation. Planned work includes metallurgical testing, environmental baseline studies, resource expansion drilling and assessment of the Park deposit, alongside consideration of a Preliminary Economic Assessment (PEA). The Company believes the combination of resource scale, grade, infrastructure and exploration upside positions Sherridon as one of the most compelling emerging VMS copper projects in the Flin Flon–Snow Lake district.

Disclaimer: The technical information presented on this page has been reviewed and approved by a Qualified Person in accordance with National Instrument 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The quantity and grade of Inferred Mineral Resources are uncertain in nature and there has been insufficient exploration to define them as Indicated or Measured Mineral Resources. There is no certainty that further exploration will result in the conversion of Inferred Mineral Resources to higher confidence categories.

Copper equivalent (CuEq) values were calculated using metal prices of US$5.00/lb copper, US$1.30/lb zinc, US$3,500/oz gold and US$45.00/oz silver, with metallurgical recovery factors of 92% for copper, 83% for zinc, 65% for gold and 57% for silver. The formula applied was: CuEq% = Cu% + (Zn% × 0.2346) + (Au g/t × 0.00721) + (Ag g/t × 0.00008).  The CuEq formula has not been adjusted for differential smelting, refining or transport charges. The Company believes the assumed metal prices and recoveries are reasonable, but they are not guaranteed. CuEq values are provided for illustrative purposes only and are not necessarily indicative of economic viability.

News release: See T2 Metals news release dated May 7, 2026, titled “T2 Metals Announces NI 43-101 Mineral Resource Estimate at the Sherridon Copper-Zinc-Gold-Silver Project, Manitoba, Canada” and the supporting NI 43-101 Technical Report (effective date April 22, 2026) available above and on SEDAR+ for assumptions, methodologies and detailed disclosure.