FIN Resources Confirms High-Grade Gold and Ten New Targets at Cabin Lake

FIN Resources Confirms Shallow High-Grade Gold and Identifies Ten New Priority Targets at Cabin Lake

FIN Resources Limited (ASX: FIN) has delivered a significant exploration update from its Cabin Lake Gold Project in Canada's Northwest Territories, confirming shallow high-grade gold mineralisation across multiple prospects and identifying ten new priority targets through an integrated geophysical campaign. The FIN Resources Cabin Lake high grade gold results and new exploration targets announcement represents a material advancement in the company's understanding of the project's scale and indicates Cabin Lake may host considerably more gold than previously recognised.

High-Grade Gold Confirmed at Shallow Depths

The 2026 winter drilling programme mobilised geologists, geophysicists, and a drilling crew between March and May 2026, completing eight diamond drillholes across three prospects — Arrow, Beaver, and Andrew South. According to the company, the results validate its geological model and confirm that high-grade gold mineralisation occurs across a substantial corridor within the Bugow Iron Formation (BIF).

Key intersections from the latest programme include:

Beaver Prospect

• 6.0m at 2.75 g/t gold from 39m, including 3.0m at 5.17 g/t gold from 42m (CL-26-004)
• 3.0m at 1.67 g/t gold from 57m (CL-26-005)

Andrew South Prospect

• 2.0m at 4.92 g/t gold from 62m, including 1.0m at 5.20 g/t gold (CL-26-007)
• 7.0m at 1.46 g/t gold from 78m, including 1.0m at 4.76 g/t gold (CL-26-007)
• 5.0m at 0.87 g/t gold from 88m (CL-26-008)

These results sit within broader mineralised envelopes and are consistent with the high-grade character established at Arrow, the project's flagship discovery, which previously returned headline intersections of 26.12m at 12.0 g/t gold from 14.88m and 7.84m at 18.2 g/t gold from 12.66m.

"We are very pleased to have confirmed the high-grade nature of the Cabin Lake Project, with assay results received to date broadly consistent with expectations developed during our due diligence review of the historical data."
— Bruce McFadzean, Chairman, FIN Resources

Complete 2026 Drilling Results Overview

All intersections are reported as downhole lengths; true widths have not yet been established at this stage of exploration.

Arrow Prospect Establishes Targeting Framework

While Arrow's headline numbers were previously reported, the 2026 programme used the third Arrow drillhole (CL-26-003) to build what the company describes as a validated, repeatable exploration model.

CL-26-003 intersected the target BIF horizon at depth and returned 15.5m at 0.88 g/t gold, demonstrating that a broader envelope of lower-grade mineralisation surrounds the high-grade core. Crucially, downhole IP surveys completed in this hole detected a strong off-hole chargeability response immediately adjacent to the drillhole, providing a direct spatial link between gold mineralisation and the geophysical signatures that can be tracked across the broader project.

Arrow now functions as the geological and geophysical calibration point for the entire project. The same combination of sulphide development, elevated chargeability, and magnetic destruction that characterises Arrow is now being recognised at Beaver, Andrew South, and beyond.

Understanding Induced Polarisation Technology

What Is Induced Polarisation?

Induced Polarisation (IP) is a geophysical surveying technique that measures how rock responds to an electrical current. When current is applied to the ground and then switched off, certain rock types — particularly those containing metallic sulphide minerals like pyrite and pyrrhotite — continue to discharge electricity briefly, producing a "chargeability" response that can be detected and mapped from surface.

Application at Cabin Lake

Gold mineralisation at Cabin Lake is hosted within sulphide-rich zones of the Bugow Iron Formation. Because sulphide minerals are the vehicle for gold at this project, areas of elevated chargeability are directly indicative of where sulphide — and potentially gold — may be concentrated.

By completing surface IP surveys across the project and combining those results with ground magnetics and drilling data, FIN has built a geophysical fingerprint for gold mineralisation. The practical outcome is that the company can now prioritise drill targets before turning a single metre of diamond core, potentially improving the efficiency and effectiveness of future exploration campaigns.

Ten New Priority Targets Identified

The geophysical programmes completed during the 2026 winter campaign have not merely confirmed known mineralisation — they have, furthermore, generated a substantial new pipeline of exploration targets across ground that has seen little systematic drill testing.

Surface IP results (covering approximately one-third of the project area):

• Identified 8 previously unrecognised chargeability anomalies
• Several of these anomalies exhibit stronger chargeability responses than those associated with known mineralisation at Arrow and Beaver
• These anomalies are considered priority targets for drill testing

Ground magnetic survey results:

• Highlighted 5 additional priority target areas characterised by demagnetisation and magnetite destruction within the BIF
• The same signature is associated with gold mineralisation at all three known prospects

In total, the integrated programme has generated 10 new priority targets across ground where surface IP coverage currently represents only 33% of the total claim area. With one-third of the project having already generated ten new targets, the remaining two-thirds of the project area presents considerable exploration potential.

Camp Prospect Emerges as High-Priority Target

Camp has emerged as one of the most compelling exploration opportunities generated by the integration of drilling, IP, and magnetic datasets, despite receiving no drilling during the 2026 winter campaign.

Camp occupies a favourable structural position within the BIF corridor and exhibits coincident IP chargeability responses and demagnetised magnetic signatures comparable to those associated with known gold mineralisation elsewhere on the project. The prospect also lies within an area of structural complexity that may have acted as a focus for hydrothermal fluid flow and sulphide development.

With only limited historical drilling completed, Camp represents a largely untested target where multiple geological and geophysical indicators associated with gold mineralisation appear to converge. Consequently, the company considers Camp to be a priority target for future exploration and drill testing.

Stage 1 Acquisition Milestone Achieved

FIN Resources has satisfied the Stage 1 milestone under its acquisition agreement with Stockworks Gold Inc., the vendor of the Cabin Lake Project.

Under the Sale and Purchase Agreement dated 27 October 2025, milestone-linked Performance Rights were issued to the Seller. The Stage 1 condition required achieving a drill intercept of ≥20 metres at greater than 2 g/t gold within two years of completion — a condition met by the Arrow discovery holes reported earlier this year.

As a result, FIN Resources will issue 13,148,789 fully paid ordinary shares to the Seller to satisfy this obligation, confirming that the project is progressing in line with the acquisition framework and that exploration is delivering against agreed benchmarks.

2026 Summer Programme Underway

The 2026 summer exploration campaign commenced this week with a structural mapping crew on site. The programme is designed to refine the emerging exploration model and advance priority targets ahead of a summer drilling campaign.

Planned activities include:

Investment Case Analysis

Several characteristics combine to position Cabin Lake as a noteworthy exploration opportunity at this stage of development.

Shallow High-Grade Accessibility

Intersections of 26.12m at 12.0 g/t gold from less than 15m depth at Arrow, and grades above 5 g/t gold at depths of 42–64m at Beaver and Andrew South, confirm that high-grade mineralisation is accessible from near surface. Shallow high-grade systems typically carry lower strip ratios and infrastructure requirements compared to deep or low-grade deposits — potentially meaningful advantages at the exploration stage.

Validated Targeting Framework

The 2026 programme has established a geological and geophysical framework that links gold to specific, identifiable signatures — namely sulphide-rich BIF zones, elevated chargeability, and magnetic destruction. This model has been validated at three separate prospect areas and can be applied systematically across the broader project.

Substantial Untested Ground

Surface IP has covered only one-third of the claim and has already generated eight new chargeability targets. However, the remaining two-thirds of the project is yet to be systematically surveyed, with multiple kilometres of prospective BIF strike remaining essentially undrilled.

Tier-1 Jurisdiction

Cabin Lake sits within Canada's Northwest Territories — a jurisdiction that has historically produced more than 14 million ounces of gold within the Archean Slave Craton. The project benefits from established infrastructure frameworks and a proven track record of gold production in the region.

Performance-Linked Acquisition Structure

The milestone-linked acquisition model means the Stage 1 payment is tied to demonstrated exploration success, confirming that project delivery is tracking against plan and that the company is executing on its stated strategy.

Technical Terminology Guide

Bugow Iron Formation (BIF): A magnetite-rich sedimentary rock unit within which gold mineralisation at Cabin Lake is hosted. Gold is associated with sulphide replacement of magnetite within this formation.

Chargeability: A measure of how strongly rock holds and releases an electrical charge. High chargeability responses in this context indicate the presence of sulphide minerals, which are the host for gold at Cabin Lake.

Downhole IP (DHIP): An induced polarisation survey conducted within a completed drillhole, used to detect chargeability anomalies adjacent to or beyond the hole's path.

g/t Au: Grams of gold per tonne of rock — the standard unit for expressing gold grade. Higher g/t values indicate more gold per tonne of material.

Demagnetisation/Magnetite Destruction: The replacement of magnetic iron oxide (magnetite) by sulphide minerals — a process associated with hydrothermal alteration and, at Cabin Lake, with gold mineralisation.

Archean Slave Craton: An ancient and geologically stable block of the Earth's crust in northern Canada, known for hosting significant gold deposits. Cabin Lake sits within this geological province.

Looking Forward

The FIN Resources Cabin Lake high grade gold results and new exploration targets programme has firmly established Cabin Lake as a district-scale gold exploration opportunity. With shallow high-grade gold confirmed across three prospects, a validated geophysical targeting model, and ten new priority targets identified across largely undrilled ground, the exploration pipeline continues to expand.

In addition, with the 2026 summer campaign now underway and follow-up drilling planned, FIN Resources is systematically testing its emerging geological model across the broader project area — a process that may, in time, reveal the true scale of what Cabin Lake holds.

Want to Know More About FIN Resources' Cabin Lake Gold Project?

FIN Resources (ASX: FIN) has confirmed shallow high-grade gold across multiple prospects and identified ten new priority targets at Cabin Lake — with two-thirds of the project area yet to be systematically explored. To learn more about the company, its Cabin Lake Gold Project, and the upcoming summer drilling campaign, visit finresources.com.au.