Property Summary

The Lac-Des-Iles property consists of 43 mineral claims in one contiguous block covering approximately 2276 hectares land, near the town of Mont-Laurier in southern Québec. The claims are located adjacent to the north and west of the TIMCAL mine previously owned by Imerys, and are also adjacent to the LDI mine which has been in operation for over 20 years and is the only significant graphite producer in North America. Cullinan Metals' property has excellent infrastructure support, road accessible, located 150 kilometres from Montreal; water, power and manpower available locally.

Geology

Underlain by similar geological environment as the TIMCAL mine, the property consists of Meta-sedimentary Belt of the Grenville Province which includes quartzofeldspathic rocks, quartzite, biotite gneiss, limestone/marble and locally pegmatitic quartzofeldspathic rocks.

Historic Work

A helicopter airborne Time Domain Electromagnetic and Magnetic survey completed in 2012 by Geophysics GPR International Inc. (Project M-12362; GM67729), covered the Lac des Isles Property. A total of 706 line-kilometers were flown and showed a major northeast-southwest trending conductive horizon some 2km wide crossing a western part of the Lac des Isles Property and suggestive of a conductive graphite horizon.

Exploration Targets

Several electromagnetic conductors from previous exploration work have not been drilled which indicate a significant potential for a graphite discovery. Several large flake graphite showings are located on the property, typically present in shear zones within gneisses where the graphite content usually ranges from trace to 3.47% Cg.

Cautionary Note: Investors are cautioned that the above information has been taken from the Quebec Government’s database at following websites: Géologie Québec – Results of the query (gouv.qc.ca) The author has not verified the information and the information is not necessarily indicative of the mineralization on the Property.

2023 Survey

In April 2023, Prospectair completed a total of 328 line-km of MAG and TDEM surveys over the Property. The survey was carried out with traverse lines oriented N106 to properly map the dominant magnetic/geological strike, and with a 100m line spacing. Control lines were flown perpendicular to traverse lines and at a 1000 m line spacing. The survey has revealed exciting findings that indicate significant potential for graphite mineralization. Particularly, two highly promising exploration targets, T1 and T2, have been identified north of the Lac des Iles graphite mine (the “LDI”), currently owned by Northern Graphite Corp.

The interpretation of the survey data highlights the influence of main structural trends in the north-south and northeast-southwest directions on the distribution of graphite-bearing mineralization within the Property. The areas with potentially high concentrations of graphite mineralization coincide with the geological contact between metasedimentary rocks and quartzites. These areas exhibit high magnetic susceptibility values and conductivity or EM responses (High Tau Values).