Inventus signs MOU with McEwen Mining for Stock Mill evaluation

Inventus Mining has signed a Memorandum of Understanding with McEwen Mining (MUX) to evaluate its Stock Mill for processing of material extracted from Inventus’ 100%-owned Pardo Gold Project located 65 km east of Sudbury, Ontario. The MOU describes the mutual intent of Inventus and MUX to evaluate if processing of bulk sample material can occur at the Stock Mill from a regulatory, operational and economic perspective. The Company currently holds a permit for a 50,000-tonne bulk sample at Pardo and intends to process up to 45,000 tonnes of material from Pardo over the next 12 months. Inventus previously conducted a 5,000-tonne and 1,000-tonne bulk sample from Pardo in 2022 and 2017, which returned grades of 3.4 gpt gold and 4.2 gpt gold, respectively. The evaluation is expected to conclude shortly and if positive, bulk sampling activities will begin promptly thereafter. If processing at the Stock Mill is feasible, Inventus intends to extract and process up to 45,000 tonnes from its Pardo Gold Project over the next 12 months. Inventus currently holds a 50,000-tonne bulk sample permit, 5,000 of which was extracted in 2022 and returned a grade of 3.4 gpt gold. In 2017, Inventus processed a 1,000-tonne bulk sample at the Stock Mill which returned a grade of 4.2 gpt gold. The MOU outlines Inventus’ intent to process up to 45,000 tonnes of gold-bearing material from the Pardo Property at the Stock Mill in Ontario. Under the MOU, McEwen will seek necessary regulatory approvals and process the material in discrete batches, with gold refined and credited to Inventus’ account. Inventus is responsible for delivering compliant material and covering all milling costs based on an agreed schedule. The arrangement is non-exclusive. Both parties will maintain responsibility for their respective environmental obligations and will share operational and assay data to ensure transparency. The MOU remains in effect until March 31, 2026, unless extended by mutual agreement.