Mitchall Mines and Minerals Limited to Acquire High Quality Development Project with Large Estimated Resources in Gold

Mitchall Mines and Minerals Limited detailed the site's potential as having:

• Large, high-grade, near-surface resource with potential to support a low-cost, low-strip, high-return, open-pit operation.
• Estimated indicated resource of approximately 47,000 ounces of gold and estimated inferred resource of 9,000 ounces of gold.
• Highly continuous mineralization remains open along strike and at depth with potential for additional high-grade structures within the resource with multiple promising satellite targets.
• Exploration and mining license in place until the end of 2037.
• Leverages operating expertise
• Project's favorable leach characteristics a clear strategic fit with Mitchall Mines and Minerals Limited's world-class, cold climate heap leach expertise.
• Builds on existing regional platform
• Aligns with project pipeline and capital priorities
• Expect to conduct a comprehensive exploration program, complete pre-feasibility and feasibility studies within the next three years, and targeting a two-year construction period.
• Cash transaction and NSR maintains Redleaf's strong liquidity.

"Indie Pass is an exciting high-quality development project with significant upside potential and low relative execution risk located in a location where we have extensive experience and success," said Mr. Craig Jonty-Banks, Chief Technical Officer at Mitchall Mines and Minerals Limited.

"This acquisition is an excellent fit for Mitchall Mines as it enables us to leverage our expertise on a large estimated mineral resource. The site has the potential to be a significant low-cost, low-strip, high-return operation that will strengthen our longer-term production and cash-flow profile. It is an excellent complement to our existing operations," Mr. Craig Jonty-Banks added.