FIN Resources Confirms High-Grade Gold Continuity at Cabin Lake Arrow Prospect

FIN Resources Confirms High-Grade Gold Continuity at Cabin Lake — And the Best May Be Yet to Come

FIN Resources Limited (ASX: FIN) has delivered another significant drilling result from its Cabin Lake Gold Project in Canada's Northwest Territories, with FIN Resources Cabin Lake gold drilling results at Arrow Prospect confirming a broad, shallow zone of high-grade sulphide-hosted gold mineralisation. This builds directly on the system outlined in the company's previous announcement and adds meaningful geological weight to the emerging story at Cabin Lake.

The result matters not just for its headline grades — which are exceptional — but for what it tells investors about the structural consistency and repeatability of the gold system developing within the Bugow Iron Formation (BIF). With six additional drillholes awaiting assay results across three separate prospects, Cabin Lake is shaping up as one of the more compelling early-stage gold stories on the ASX.

Arrow Delivers Again: The Numbers Behind the Headline

According to the announcement, drillhole CL-26-002 returned a broad composite intercept of 7.84 metres at 18.2 g/t gold from 12.66 metres depth, a result that begins just beneath shallow glacial cover and confirms that the high-grade mineralisation system at Arrow is not a one-hole wonder.

Within that composite, the standout sub-intercept was 5.50 metres at 21.6 g/t gold from 15.0 metres, with numerous individual half-metre samples exceeding 10 g/t gold across the interval.

The table below summarises the key high-grade intercepts from both drillholes completed at Arrow to date:

Note: All intervals are reported as downhole lengths. True widths are not yet known.

Individual assay highlights from CL-26-002 that further underscore the intensity of the gold system include:

• 50.8 g/t Au over 0.5m from 17.0m
• 30.6 g/t Au over 0.5m from 18.0m
• 25.0 g/t Au over 0.5m from 17.5m
• 19.25 g/t Au over 1.0m from 16.0m
• 18.85 g/t Au over 0.5m from 13.0m
• 18.70 g/t Au over 1.0m from 15.0m

These are not fringe results — they represent multiple consecutive sample intervals returning grades that would be considered exceptional in any global gold jurisdiction.

Chairman Bruce McFadzean stated:

"These latest results continue to demonstrate that Arrow is not an isolated high-grade occurrence, but part of a broader and repeatable sulphide-hosted gold system developing within the Bugow Iron Formation at Cabin Lake. Importantly, the first two Arrow drillholes have now consistently intersected broad zones of shallow high-grade mineralisation, significantly strengthening our confidence in the continuity and scale potential of the system."

Why Two Holes in a Row Changes the Narrative

The most significant aspect of this announcement is not a single impressive assay — it is the pattern forming across two successive drillholes.

CL-26-001, reported in April 2026, returned 26.12 metres at 12.0 g/t gold from 14.88 metres. CL-26-002, announced now, returned 7.84 metres at 18.2 g/t gold from 12.66 metres — with the mineralisation commencing at virtually the same shallow depth and within the same interpreted sulphide-rich BIF horizon.

What the two holes now collectively confirm:

1. Broad, continuous sulphide-hosted gold mineralisation within the Bugow Iron Formation
2. Multiple subparallel high-grade zones rather than a single narrow shoot
3. Strong structural control on higher-grade mineralisation, suggesting the geometry is predictable
4. A consistent relationship between sulphide abundance and elevated gold grades — a relationship that can now be mapped and targeted using geophysics

This is a critical inflection point for an early-stage explorer. Repeatability across multiple drillholes is what separates an anomaly from a system — and, consequently, Arrow is demonstrating the characteristics of a fully formed system.

Understanding BIF-Hosted Gold: What It Means for Investors

What Is a Banded Iron Formation (BIF)?

A Banded Iron Formation is an ancient sedimentary rock unit composed of alternating layers of iron-rich minerals (such as magnetite) and silica (chert). BIFs are found in Archaean-age terranes globally and are recognised as important host rocks for high-grade gold mineralisation.

Why Does This Matter at Cabin Lake?

At Cabin Lake, gold mineralisation is hosted within the Bugow Iron Formation — a BIF unit within the Archaean Slave Craton. The gold appears to be spatially associated with the replacement of magnetite by sulphide minerals (pyrite and pyrrhotite), a process driven by hydrothermal fluids moving through structural corridors in the rock. Where this replacement is most intense, gold grades are highest.

Why Does It Matter to Investors?

BIF-hosted gold systems are known for several features that make them commercially attractive:

• They can be laterally extensive along strike, providing significant scale potential
• Mineralisation can be structurally repetitive, meaning grade zones repeat predictably
• The host rock is often competent and amenable to drilling, improving data quality
• Several world-class gold deposits are hosted in analogous settings, including the Lupin Gold Mine (3.3 Moz at grades exceeding 10 g/t Au), located in the same Slave Province

The Cabin Lake system appears to be developing characteristics consistent with this style of deposit — shallow, high-grade, and structurally controlled.

Glossary of Key Terms

A Geophysics Program Built to Find More

While the drilling results have captured investor attention, equally important is the geophysical work now being integrated with those results. According to the announcement, FIN completed a multi-component winter geophysics program at Cabin Lake comprising:

• Downhole Induced Polarisation (DHIP) surveys
• Surface dipole-dipole IP surveys
• High-resolution ground magnetic surveys

The strategic rationale behind this investment in geophysics is well-grounded. Gold mineralisation at Cabin Lake is spatially associated with sulphide replacement of magnetite within the BIF. This process generates two distinct and mappable geophysical signatures:

• Elevated chargeability responses — sulphide-rich zones respond strongly to IP surveys, making them identifiable without drilling
• Reduced magnetic susceptibility (magnetic lows) — where magnetite has been destroyed, ground magnetic surveys detect lower magnetic responses

Together, these signatures create a geophysical fingerprint for mineralised zones — one that can be applied across the full 15-kilometre BIF corridor at Cabin Lake to generate new drill targets ahead of the summer programme.

The interpretation of these datasets is described as "well advanced," and the company expects the integrated model to materially improve drill targeting across the broader system.

Multiple Prospects, Multiple Shots at Discovery

Arrow is only one part of the Cabin Lake story. Furthermore, the FIN Resources Cabin Lake gold drilling results at Arrow Prospect represent just two of eight drillholes completed across three separate prospects during the 2026 winter programme, with assay results from six holes still to come.

Visual geological logging from both Beaver and Andrew South has already identified sulphide mineralisation and alteration consistent with the broader mineralised corridor — a positive early indicator ahead of formal assay results.

Notably, at Beaver, the anchor hole CL-26-005 encountered a previously unknown zone of sulphide mineralisation immediately below glacial overburden — an unexpected discovery that prompted a follow-up parallel hole (CL-26-006), which also intersected shallow sulphide mineralisation.

These are not confirmed resource-grade intercepts yet — however, they represent exactly the kind of geological validation that expands a project's prospective footprint.

What Comes Next: The Path to the Summer Programme

FIN has outlined a clear near-term workplan following the successful conclusion of its winter campaign. All personnel have been safely demobilised from site.

The company's immediate priorities are:

1. Receipt, validation and interpretation of assay results from Arrow (CL-26-003), Beaver (CL-26-004 to CL-26-006) and Andrew South (CL-26-007 and CL-26-008) — expected in the coming weeks
2. Integration of drilling results with completed geophysical datasets (surface IP, DHIP and ground magnetics)
3. Completion and interpretation of petrophysical testwork to support geophysical modelling
4. Generation and prioritisation of greenfields drill targets for the planned summer drilling programme
5. Refinement of structural and geological targeting models across the broader Cabin Lake corridor

The summer drilling programme will benefit from a substantially improved geological model — one informed by eight drillholes of structural data, a comprehensive geophysical dataset, and a now-demonstrated understanding of the geophysical fingerprint for mineralised zones.

The Investment Case: Why Cabin Lake Warrants Attention

FIN Resources' Cabin Lake Gold Project is positioned in one of Canada's most established gold jurisdictions. The Northwest Territories sits within the Archaean Slave Craton, a geological province with a historical production record exceeding 14 million ounces of gold.

The analogous Lupin Gold Mine — hosted in the same BIF style lithology — produced over 3.3 million ounces at grades above 10 g/t gold, providing a relevant benchmark for what BIF-hosted systems in this craton can deliver.

The key investment attributes of Cabin Lake as they stand today include:

• Near-surface, high-grade mineralisation: Both Arrow drillholes commenced striking gold grades within 13–15 metres of surface, minimising the depth-to-resource challenge that affects many early-stage gold projects
• System-scale potential: Eight fully permitted, high-priority drill targets across a 15-kilometre mineralised corridor — the vast majority of which remain untested
• 100% ownership: FIN holds a full interest in the project, with no joint venture dilution
• Geophysical toolkit: The newly completed IP and magnetic surveys provide a scalable method for identifying mineralised targets along the full BIF strike extent
• Tier-1 jurisdiction: The Northwest Territories is a politically stable, established mining jurisdiction with the infrastructure and regulatory framework to support project development
• Community engagement: FIN has established access agreements and on-ground support with the Tłı̨chǫ Government

In summary, the FIN Resources Cabin Lake gold drilling results at Arrow Prospect have now confirmed that Arrow is not a single drill intercept — it is an emerging system of multiple subparallel high-grade gold zones hosted within a shallow, structurally controlled BIF. With six drillholes still to report across three prospects, a comprehensive geophysical dataset being integrated into drill targeting, and a summer drilling programme being planned across a 15-kilometre corridor, investors have multiple near-term catalysts to monitor. The grades are exceptional, the geological model is strengthening, and the scale potential is only beginning to be defined.

Ready to Dig Deeper Into FIN Resources' Cabin Lake Gold Project?

With high-grade gold confirmed across two consecutive drillholes at Arrow, six assays still pending across three separate prospects, and a summer drilling programme on the horizon across a 15-kilometre mineralised corridor, FIN Resources (ASX: FIN) is building a compelling early-stage gold story in Canada's Northwest Territories. To learn more about the Cabin Lake Gold Project and stay across upcoming catalysts, visit finresources.com.au.