FIN Resources Secures C$111,034 MIP Grant for Cabin Lake Gold Project

FIN Resources Secures MIP Grant to Advance Cabin Lake Geophysics

FIN Resources Ltd (ASX: FIN) has reported receipt of a C$111,034 co-funding grant from the Northwest Territories Mining Incentive Program (MIP) to support expanded geophysical work at its 100% owned Cabin Lake Gold Project in Canada. This FIN Resources Cabin Lake Gold Project government grant for gold exploration marks a significant step forward in the company's systematic approach to target generation across one of Canada's most historically productive mining regions.

According to the ASX announcement, the funding is allocated to extend high-resolution induced polarisation (IP) and ground magnetic surveys across the project, following a winter campaign that identified 10 new IP anomalies and 4 new magnetic target zones considered prospective for sulphide-hosted gold mineralisation.

To date, only ~35% of Cabin Lake has been surveyed with high-resolution geophysics, so the grant-backed programme is aimed at expanding coverage during the current summer field season and refining future drill targeting.

"We are very grateful to the Government of the Northwest Territories for its support of our activities. This grant recognises the importance of our activities to the local economy of the Northwest Territories and highlights the strong local support the industry is receiving.

The Company's recent IP and magnetic surveys successfully identified numerous new targets and reinforced the relationship between sulphide mineralisation, chargeability responses and magnetic features. Expanding these datasets is a logical next step in refining our geological model and prioritising future drilling targets."

Bruce McFadzean, Chairman, FIN Resources Ltd

What the MIP Grant Means for Cabin Lake Exploration

According to FIN Resources Ltd, the C$111,034 MIP grant directly funds an expansion of geophysical surveys that the company has already demonstrated to be effective at target generation.

Planned outcomes from the funded programme include:

• Broader IP survey coverage over parts of the project not yet tested
• Extended ground magnetic surveys to clarify geological structures and iron-rich units
• Additional target generation and geological interpretation over the project area
• More detailed drill targeting ahead of future campaigns
• Integration of new geophysical data with ongoing structural mapping in the current summer programme

For investors, this effectively offsets part of FIN Resources Ltd's near-term exploration spend while increasing data density across a project that remains largely untested at high resolution.

Winter Program Results: A Growing Target Inventory

The recent winter exploration programme at Cabin Lake focused on IP and magnetic surveys. According to FIN Resources Ltd, the work delivered multiple new targets and provided technical support for continued use of these methods.

The announcement highlighted the following outcomes:

The 10 IP anomalies have already been prioritised for follow-up in the summer field work, which indicates that target generation is feeding directly into current on-ground activity rather than being deferred.

Understanding Induced Polarisation (IP)

What Is Induced Polarisation?

Induced polarisation (IP) is a geophysical survey method used in mineral exploration to detect rocks that can temporarily hold an electrical charge.

• An electrical current is sent into the ground using electrodes
• The current is then switched off
• Instruments measure how long the ground takes to release the stored charge

Certain minerals, especially sulphide minerals such as pyrite and pyrrhotite, hold and release electrical charge more strongly than surrounding rocks. Zones with higher chargeability are recorded as IP anomalies, which may indicate sulphide concentrations and, in some settings, associated gold.

Why Is IP Relevant at Cabin Lake?

At Cabin Lake, FIN Resources Ltd reports that gold is hosted within sulphide-bearing banded iron formation (BIF) belonging to the Bugow Iron Formation. The sulphides include:

• Pyrite
• Pyrrhotite
• Minor arsenopyrite

Because gold is associated with these sulphide minerals, IP is well suited to finding the rock types that may host gold. Furthermore, when IP chargeability anomalies coincide with magnetic features mapped by ground magnetics, the combination can highlight areas where iron-rich and sulphide-rich rocks occur together — and these are precisely the areas that FIN Resources Ltd is targeting for future drilling.

Why Does IP Matter to Investors?

From an investment perspective, IP surveys offer several practical advantages:

• IP surveys are relatively low cost compared with drilling
• They cover large areas efficiently
• They can reduce the risk of drilling blind by focusing drill holes on more likely targets

By expanding IP coverage across the remaining ~65% of the Cabin Lake project, FIN Resources Ltd aims to improve understanding of where sulphide-hosted gold mineralisation might occur, prioritise targets with multiple supporting indicators, and support more focused drilling programmes in later stages.

Key Technical Terms Explained

• Induced polarisation (IP): A survey method that measures how rocks store and release electrical charge to identify sulphide-rich zones
• Ground magnetics: Measurements of small changes in the Earth's magnetic field taken at ground level to map iron-rich rocks and structural features
• Banded iron formation (BIF): A layered sedimentary rock made up of alternating bands of iron-rich minerals and silica-rich layers — at Cabin Lake, this rock hosts the reported gold mineralisation
• Chargeability: A number describing how easily rocks can store electrical charge; higher chargeability often points to sulphide minerals
• Sulphide-hosted gold: Gold that occurs together with sulphide minerals such as pyrite, which are used as a guide to find the gold
• Archean Slave Craton: A very old and stable part of the Earth's crust in Canada's Northwest Territories, known for historical gold deposits and production

Cabin Lake Gold Project: Geological and Regional Context

According to FIN Resources Ltd, the Cabin Lake Gold Project is located in Canada's Northwest Territories, approximately 105 km northwest of Yellowknife, within the Archean Slave Craton. The jurisdiction is described in the announcement as a Tier-1 mining region with a historical gold production endowment of more than 14 million ounces.

Mineralisation Style and Geological Model

The company reports that gold mineralisation at Cabin Lake occurs within the Bugow Iron Formation, a sulphide-bearing BIF unit associated with pyrite ± pyrrhotite ± minor arsenopyrite. In addition, it is interpreted to be structurally controlled, meaning faults and folds likely play a key role in focusing mineralising fluids.

FIN Resources Ltd has also stated that this stratigraphy is analogous to the nearby Lupin Gold Mine, which historically produced ~3.3 million ounces of gold at grades above 10 g/t Au. This is presented as a geological comparison rather than a statement of scale or economics for Cabin Lake.

Project Scale and Current Targets

Project features highlighted in the ASX release include:

• ~15 km continuous strike of the Bugow Iron Formation under active exploration focus
• Eight high-priority, fully permitted drill targets along the mineralised corridor
• Confirmed mineralisation across multiple prospects: Arrow, Beaver, and Andrew
• Integration of historical drilling, FIN Resources Ltd's recent re-sampling, and recent drilling at Arrow to support the current geological interpretation

The company indicates that exploration is being directed along strike and at depth, using drilling and geophysics together to understand the mineralised system.

Local Relationships and Access

The announcement notes established engagement with the Tłı̨chǫ Government, including access agreements and on-ground support. This relationship is particularly relevant for access and ongoing field operations in a remote northern setting.

Summer Field Season: Programme and Sequencing

According to FIN Resources Ltd, summer field activities have already commenced at Cabin Lake. The programme is structured so that each phase informs the next:

1. Structural mapping is carried out first to refine understanding of the geological controls on mineralisation
2. Expanded IP and ground magnetic surveys funded by the MIP grant are then conducted across broader areas
3. Target refinement and interpretation follow as new geophysical and mapping data are integrated
4. Drill targeting is updated ahead of future drilling campaigns

The stated intent is to move from broader geophysical screening to more precise drill targeting, using each phase of work to inform the next.

Why Cabin Lake and FIN Resources Ltd May Interest Investors

According to the ASX release and project description, several factors may be relevant for investors monitoring this FIN Resources Cabin Lake Gold Project government grant for gold exploration and the broader project development.

1. Data-driven exploration with large remaining coverage

Only ~35% of the project has been covered by high-resolution geophysics so far. The recent winter programme already identified 10 IP anomalies and 4 magnetic target zones within this partial coverage, and the MIP grant enables FIN Resources Ltd to extend this approach over much more of the project area.

2. Strengthening geological model

The winter programme is reported to have confirmed a relationship between sulphide mineralisation, IP chargeability responses, and magnetic features. This relationship is consequently being used as a framework for ranking targets and planning future drilling.

3. Co-funding reduces immediate capital intensity of geophysics

The C$111,034 MIP grant directly contributes to exploration spending on IP and magnetics, which may allow FIN Resources Ltd to expand the scope of work without increasing cash usage to the same extent.

4. Recognised geological analogue

The Bugow Iron Formation is reported to be analogous to the stratigraphy hosting the 3.3 Moz Lupin Gold Mine. However, while this does not imply similar outcomes, it provides a known reference point for the style of mineralisation being targeted.

5. Multiple prospects across a 15 km corridor

Mineralisation confirmed at Arrow, Beaver and Andrew suggests that gold is present at several points along the ~15 km Bugow Iron Formation, supporting the interpretation of a broader mineralised corridor rather than a single isolated occurrence.

6. Jurisdictional and community framework

The project is located in a Tier-1 jurisdiction with long-term mining activity and more than 14 million ounces of historical gold production, with structured access agreements supporting ongoing field work.

Key Takeaway for Investors

FIN Resources Ltd has reported receipt of a C$111,034 co-funding grant from the Northwest Territories Mining Incentive Program, allowing an expansion of IP and ground magnetic surveys at the Cabin Lake Gold Project during the current summer field season.

With only ~35% of the project currently covered by high-resolution geophysics, the combination of new MIP-supported data, existing anomalies, and ongoing structural mapping positions the company to advance target generation across a ~15 km mineralised corridor in a well-established Canadian mining region.

For investors focused on early-stage gold exploration, the FIN Resources Cabin Lake Gold Project government grant for gold exploration and the upcoming results from the expanded geophysical programme are likely to be key indicators of how the geological model and drill target inventory progress over the coming field season.

Want to Learn More About FIN Resources and the Cabin Lake Gold Project?

FIN Resources Ltd (ASX: FIN) is advancing a 100% owned gold project across a ~15 km mineralised corridor in one of Canada's most historically productive mining regions — backed by government co-funding and a growing inventory of geophysical targets. To explore the company's project pipeline, exploration strategy, and latest updates, visit the official FIN Resources website at finresources.com.au.