ORM Ormonde Mining Plc

CEO Statement

TRU CEO Steve Nicol commented: "The impressive grade results returned from this program of rock sampling signals that Golden Rose has the potential to generate high grade gold, but more significantly this rare exposure of lake shore has exposed a portion of the larger structural trend that is interpreted to extend for some 33 kms from NE to SW across the Golden Rose property. As only minimal information is currently available along the trend due to bog and till cover, studying this exposed lake shore provides valuable insight into some of the controls on gold mineralization occurring along this larger trend. The collection of many high-grade rock samples, some containing VG, also reinforces the Company's selection of the MPRH exploration fairway as the focus for initial drill planning. It is a credit to the TRU geological team that it recognized the importance of the opportunity afforded by the unexpectedly low water levels within Victoria Lake and moved quickly to take full advantage of the opportunity."

Sampling and Mapping

As previously reported (see news release dated October 22, 2024), TRU is in the process of rigorously and methodically assessing the project-wide data for Golden Rose, including geological re-evaluation, infill sampling, and field validation with the objective of developing an updated model of mineralization potential across the entire project area. The initial focus is on the MPRH exploration fairway where drilling is being planned.

The MPRH exploration fairway is a structural corridor interpreted to be up to 2 kilometres ("km") wide and over 7 km long, stretching from the Mark's Pond gold zone in the southwest to the Rich House showing to the northeast ("NE") (Figure 1). For several kilometres, the MPRH exploration fairway is parallel to the northwest shore of Victoria Lake.

FIGURE 1: MPRH exploration fairway location

The 2024 fieldwork program was assisted by unusually low water levels in Victoria Lake leaving exposed a significant amount of the lake shore and thus uncovering a 15 metre ("m") wide strip along the entire north shore of the lake representing a 4 km stretch of the MPRH exploration fairway.

Sampling and mapping were carried out by the TRU geological team along this strip of exposed shoreline. Bedrock samples were taken from siliceous intervals associated with a contact zone exhibiting iron carbonate alteration that can be tracked over an extensive strike length. Individual siliceous intervals extend to a width of up to 4 m, over 10's of metres in length. Many of the float samples collected were from angular boulders suggesting that they may not have been transported very far from the original source. A table of samples that returned in excess of 0.1 g/t from the sampling program is provided below (Figure 2). Figure 3 shows the locations of significant samples along the shoreline, close to Rich House.

FIGURE 2: Table of significant sample results (> 0.1 g/t Au)

FIGURE 3: Grab sample locations and assays with geology close to Rich House

The MPRH exploration fairway forms part of a larger structural trend interpreted to extend for some 33 kms in a NE to SW direction across the Golden Rose property. The geology of this structural trend is complex with numerous sedimentary and volcanics lithologies existing as overlapping thrust slices over 10's of kms. The trend is interpreted to be highly prospective for Au along its entire length but has limited surface expression. The opportunity provided TRU geologists by the recently exposed Lake Victoria shoreline in a portion of the MPRH exploration fairway provides a valuable source of geological information which will assist to advance TRU's discovery aims for Golden Rose in this much larger structural trend. 

High resolution drone imagery has also been collected over the exposed shoreline to document the outcrops for further geological interpretation.

Data Verification

During all exploration sampling and analysis works on its Golden Rose Project, TRU maintains strict quality assurance and quality control programs and has a sample security procedure in place. These are tailored as necessary to be appropriate to the types of samples being collected.

Samples reported on in this news release comprised rock chip and grab samples. These samples were all packed in sealed plastic bags and transported by the TRU Project Geologist directly to the laboratories of Eastern Analytical in Springdale, NL (ISO 17025 certified) for industry standard assay techniques for gold.

All samples containing VG were assayed using total pulp metallics as well as ICP-34 while the remaining samples were analyzed by 30g fire assay with AA finish and ICP-34 techniques. Blank and standard samples were inserted by the laboratory in addition to analysis of duplicate samples.

Qualified Person Statement

The scientific and technical information disclosed in this news release has been prepared and approved by Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person as defined in NI 43-101.

Joel Cranford has verified all scientific and technical data disclosed in this news release and noted no errors or omissions during the data verification process.

About TRU Precious Metals Corp.

TRU (TSXV:TRU, OTCQB:TRUIF, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The Company's flagship project is the Golden Rose Project, a regional-scale 297.5 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has an option with TSX-listed Quadro Resources to acquire up to an aggregate 65% ownership) which straddles a 45km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Calibre Mining's Valentine Gold Project and AuMEGA Metals' Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting discovery along this proven gold bearing trend.

TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).