Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery

Ramp Metals Inc. (TSXV: RAMP) (‘Ramp Metals’ or the ‘Company’) is pleased to provide an update on its Rottenstone SW property where a gold discovery of 73.55 gt Au over 7.5m was identified in drillhole Ranger-01. The Company recently completed a mapping and sampling program to follow up on this discovery, and to groundtruth other potential targets that were generated from the 2023 TDEM geophysical survey.

The mapping and sampling program focused on the Ranger, Rogue, and newly identified Rush targets (Figure 1). During this program, a total of 312 rock samples and 225 soil samples were taken (Figure 2) throughout the Rottenstone SW property. Assays from this program are currently pending.

Figure 1: Area of Focus for the Sampling and Mapping Program.

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Figure 2: October 2024 field program sample overview, overlaying TDEM channel 25

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Ranger

The Ranger target is in an area of exposed bedrock ridges which parallel the NE-SW striking regional foliation. A NE-SW striking high-conductivity zone approximately 1350m in length is associated with the target. The main lithologies encountered in this area are migmatites and intrusive quartz diorite, with minor volcanic and sedimentary packages.

To date, gold mineralization has been found in two distinct rock packages. Prospecting in fall 2023 discovered two samples grading 5.11 g/t Au and 1.09 g/t Au in mafic packages within the migmatite country rock. These samples were located on separate ridges approximately 100m across regional strike (Figure 1). The discovery intercept of 73.55 g/t Au over 7.5m was found in a coarse grained quartz diorite. During the October 2024 field program, a total of 177 rock samples were taken around the Ranger target (Figure 3), with a focus on these two packages of interest.

Rogue

The Rogue target is located approximately 3km NW from Ranger. The area is heavily forested and is covered by 10m of glacial till overburden. The conductive geophysical targets appear to be associated with regional folding. The targets are located within the axis of these folds. Limited drilling to date has identified broad zones of chlorite alteration along with pyrrhotite, arsenopyrite, pyrite, and minor gold mineralization (see Ramp Metals’ news release dated July 8, 2024). The Company believes that these indicators warrant further exploration of these targets. A total of 221 soil samples and 1 rock sample were taken throughout the Rogue target area.

Figure 3: Sample locations over Rogue & Ranger targets overlaying TDEM Channel 25

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Figure 4: Rusty Schist outcrop at ‘Ranger’

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Figure 5: Channel sample taken at ‘Ranger’

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Rush

The Rush target is a newly identified area of interest located approximately 7.5 km NW of Ranger. It consists of a NE-SW striking zone of high conductivity approximately 1200m in length. The area is heavily forested and bedrock exposure is limited to sporadic ridges which parallel the NE-SW regional foliation. A total of 56 rock samples and 24 soil samples were taken over the area. Disseminated Chalcopyrite and Malachite staining were noted in multiple rock samples.

This mineralized zone was traced for 20m along the base of an exposed ridge, and dips under cover to the NE and SW.

Figure 6: ‘Rush’ sample locations overlaying TDEM Channel 25. Photos of samples SRC416800 & SRC170558 can be seen in Figures 7 & 8 below.

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Figure 7: ‘Rush’ sample SRC416800 showing weathered ultramafic with malachite staining

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Figure 8. ‘Rush’ sample SRC170558. Example of Malachite staining taken at contact of ultramafic and migmatite

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‘The Rush target is an exciting new development as it highlights just how underexplored the Rottenstone domain is,’ commented Garrett Smith, VP of Exploration at Ramp Metals Inc. ‘As we eagerly await the results from the October program, we are excited by the potential of a new deposit type to go along with our recent gold discovery.’ 

The Company is currently planning an extensive airborne geophysical program in order to complete the dataset over the entire Rottenstone SW property. The geophysical program, combined with the lab results from the above-noted mapping program will be used to define drill targets in the upcoming winter drill program. An amendment to allow up to 5000m of drilling has been submitted to the Saskatchewan Ministry of Environment (see Ramp Metals’ news release dated Oct 3, 2024) and is currently in the review process.

QA/QC and Geochemical Sampling Procedure

All rock and soil samples were taken, described, photographed, and bagged on-site. Control samples consisting of certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s QA/QC protocol at a rate of 1:15 or better. All samples were transported by Ramp Metals staff to a secure warehouse, packaged and then transported by Manitoulin Transport to Bureau Veritas Commodities Canada Ltd.(‘BV’), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory.

Samples have been submitted to BV using the following packages and procedures:

Rock samples are prepared using the PRP70-250 package, where samples are weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples are then analyzed in accordance with BV’s FA330 and MA300 packages, for both gold, platinum and palladium analysis by fire assay (30g fire assay with AAS finish) and multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with BV’s standard of practice.

Soil samples are prepared using BV’s SS80 package, where samples are dried at 60°C and sieved to depletion to -180 μm (80 mesh). Samples are then analyzed in accordance with BV’s AQ251+PGM package, an ultra-trace by ICP-MS analysis where aqua regia digestion is used for low to ultra-low determination on soils followed by a 37 element (including gold) ICP-MS with the platinum, palladium add on for analysis of a 15g sample.

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has a new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’ within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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