Expansion of Meadowbank Project Planned Following Discovery of High-Grade Gold Deposits

Thackeray Mines & Minerals Inc. is pleased to announce the significant expansion of its Meadowbank Project, in the Kivalliq District of Nunavut, Canada. The decision follows the discovery of substantial high-grade gold deposits, which have the potential to significantly increase the site's production capacity and long-term value.

Located in one of Canada's most promising mining regions, the Meadowbank Project has been a cornerstone of Thackeray's Arctic operations since its launch in 2013. The recent discovery represents a major milestone for the company and highlights the untapped potential of the region.

Unlocking New Potential

“Meadowbank has always been a flagship operation for Thackeray, and this discovery further validates the strategic importance of our Arctic portfolio. This expansion not only enhances the project's economic viability but also reinforces our commitment to sustainable and responsible mining practices in Nunavut.” - Dr. Barry Seabrook – Chief Geologist and Director at Thackeray Mines & Minerals Inc.

The expansion will involve the development of new mining areas and the deployment of advanced technologies to ensure the efficient and environmentally responsible extraction of these newly identified reserves.

Commitment to Sustainability and Innovation

As with all of Thackeray's operations, the Meadowbank expansion will prioritize sustainability and innovation. Key features of the expansion plan include:

• Renewable Energy Integration: Additional solar and wind energy systems will be installed to further reduce the project's reliance on diesel fuel.
• Minimized Environmental Impact: Advanced ore processing technologies and comprehensive land rehabilitation plans will ensure minimal disturbance to the surrounding environment.
• Enhanced Water Management: Improved recycling systems will maintain the project's commitment to achieving over 90% water reuse rates.

Economic and Community Benefits

The expansion is expected to generate over 300 new jobs, with a focus on hiring and training local residents and collaborating closely with Indigenous communities. Thackeray will continue its investments in regional infrastructure, education, and cultural preservation initiatives to support the economic and social development of Nunavut.

Looking Ahead

Exploration and development work on the expanded areas of the Meadowbank Project is set to begin in the final quarter of 2024, with initial production from the new deposits anticipated by mid-2025. Thackeray is confident that the expanded Meadowbank operation will play a key role in the company's long-term growth and further solidify its reputation as a leader in sustainable mining.