Canadian Goldfields Discovery Corp. has announced that it has closed its acquisition of the Miminiska Gold Property pursuant to the terms of a mineral property purchase agreement dated November 28, 2025, as amended December 29, 2025, with Storm Exploration Inc., a company listed on the TSX Venture Exchange. As a result of closing of the acquisition, the Company’s common shares will be resume under the symbol “CGM” on the TSX Venture Exchange on Thursday February 19, 2026.
The Miminiska Gold Property is located approximately 350 kilometres (km) north of the city of Thunder Bay, 115 km east of the town of Pickle Lake, and approximately 40 km west of Fort Hope, Ontario. The property comprises 278 unpatented mining claims, 43 mining patents and 1 mining licence of occupation, covering a total area of 6,366.4 hectares (ha), distributed over three contiguous blocks named Miminiska Lake, Wottam Lake, and Frond Lake. The Property is located within Eabametoong First Nation territory.
The Property lies within the Miminiska – Fort Hope greenstone belt, approximately 150 km southeast of Orla Mining Ltd.’s Musselwhite Gold Mine. The Property is within the Uchi Subprovince, an east-trending, predominantly metavolcanic-metasedimentary belt in the Superior Province of the Canadian Shield. The Uchi Subprovince forms part of the North Caribou Terrane that hosts the prolific Red Lake Gold Mines, Musselwhite Gold Mine, and past gold producers (all off-Property), notably the Pickle Crow Mine located approximately 115 km west of the Property.
The Property is underlain predominantly by very well laminated locally turbiditic appearing units of interbedded wacke, quarzitic wacke and slate/argillite. Mafic volcanic units observed in the northeastern portion of the Property are massive to amygdaloidal in texture and are commonly strongly amphibole and biotite altered due to regional metamorphism.
All the rock units found on the Property are Early Precambrian in age, with the exception of a few north-trending diabase dykes of Middle Precambrian age. Quaternary deposits of glacial till, and glaciolacustrine and glaciofluvial sand and esker gravels now cover much of the bedrock. A major unit of banded oxide facies iron formation trends east-west across the northern portion of the Property based on the limited geological mapping and magnetic surveys.
Gold mineralisation on the Property is primarily associated with banded iron formations and east-west striking shear zones over a length of 14 km across the Property.
The 2 diamond drillholes totalling 659.2 m drilled at the Miminiska prospect adjacent to Miminiska Lake in 2022 laterally extended known high-grade mineralisation in the folded iron formation by 130m.
Following closing, initial exploration planned by the Company is anticipated to include step out and exploration drilling at the Miminiska prospect, located on the southwest portion of the Porperty, and Frond Lake prospect, located on the northeast portion of the Property. At the Miminiska prospect, step out drilling is anticipated to take place along strike of the central limb of the folded iron formation, with exploration drill testing of the north and south limbs of the BIF. Since most anomalous gold values are associated with quartz veins within oxide iron formation, the Company plans to utilise the 2022 geophysical data to locate structural breaks proximal to strong magnetic anomalies and subsequently use these specific locations to define drill targets for future exploration. Step out drilling at Frond Lake is planned to extend historical drilling to the west.
Initial regional work planned includes a VTEM survey over the entire Property to map conductive units to increase the geological understanding of the Property and to assist in Phase 2 drill targeting. Ground follow up exploration, including geological mapping, prospecting, and rock sampling of exposed outcrops, will be conducted over geophysical anomalies with priority given to anomalies that coincide with interpreted BIF horizons and that are associated with structural complexities and/or near historical occurrences.
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