SPC Nickel's Muskox Project in Nunavut, Canada, marks a significant and ambitious endeavor in the field of mineral exploration, focusing on copper, nickel, and platinum-group metals (PGMs). This district-scale project covers approximately 496 square kilometers (about 65,340 hectares) in a geologically rich region known for its large layered mafic-ultramafic intrusions with features similar to some of the world’s most prolific mining districts such as Norilsk, Sudbury, and Voisey’s Bay.

The Muskox Intrusion was initially discovered in the 1950s and has a historical legacy of sporadic but promising exploration, including extensive drilling by major mining companies. More than 261 diamond drill holes have been logged over the decades, revealing significant intersections of high-grade copper, nickel, and PGMs, but exploration has only begun to scratch the surface of this vast mineral system.

In 2025, SPC Nickel completed a pioneering 1,020-line kilometer MobileMT airborne electromagnetic survey at Muskox, the first such geophysical survey over the project in over 20 years. This state-of-the-art survey delivers deep-penetrating geophysical data designed to map conductive targets beneath the Muskox Intrusion, directly aiding the identification and refinement of priority drill targets. By employing this advanced technology, SPC Nickel gains unprecedented visibility into the underlying mineralizing structures.

Following this geophysical survey, the company swiftly initiated a comprehensive summer field program including geological mapping, rock sampling, and geochemical analysis. This ground work is crucial to validate airborne survey results, interpret mineralization styles, and develop accurate geological models. It enables the company to prioritize areas for future drilling and exploration, efficiently using its resources and maximizing the short Arctic exploration season.

SPC Nickel strategically expanded its land holdings by an additional 65 square kilometers, consolidating control over the most prospective ground within the Muskox Intrusion. This move strengthens SPC Nickel's position in this underexplored terrain, reinforcing the project's district-scale potential for hosting a major polymetallic deposit.

The Muskox Intrusion itself is a large, layered mafic-ultramafic geological body, formed during the Proterozoic Era by mantle plume volcanism linked to the Mackenzie Magmatic Event. It stretches over 125 kilometers with widths from 200 to 11,000 meters, divided mainly between the Feeder Dyke and the Main Muskox Intrusion. This size and geological setting are known to be favorable for the formation of significant magmatic sulfide mineral deposits, which contain economically valuable concentrations of copper, nickel, and PGMs.

Historically recorded drill results highlight notable mineralization potential, such as:

• 7.50 meters grading 6.14% copper, 2.76% nickel, and 9.06 grams per tonne (g/t) PGMs (including platinum, palladium, and gold) recorded by Silvermet Corporation in 2007,

• 13.74 meters grading 5.04% copper, 2.21% nickel, and 5.63 g/t PGMs recorded by Equinox Resources Ltd. in 1987.

The CEO of SPC Nickel, Grant Mourre, has emphasized the importance of integrating new data from the MobileMT survey and fieldwork with SPC’s extensive proprietary database, which consolidates over 15 years of exploration efforts and historical data worth approximately 15 million dollars in modern exploration expenditures. This database includes geophysical, geological, and geochemical data from airborne and ground surveys, and over 35,000 meters of diamond drilling. Leveraging this wealth of information enables SPC Nickel to advance the geological understanding of Muskox and to systematically target the most promising areas for further drilling and development.

SPC Nickel is deploying funds efficiently following a successful $3.5 million Rights Offering to accelerate exploration activities, ensuring sustained momentum in unlocking Muskox's potential. This proactive approach reflects strong corporate commitment and investor confidence in the district-scale polymetallic opportunity presented by Muskox.

In essence, SPC Nickel’s recent completion of the MobileMT survey and ongoing detailed fieldwork at Muskox represents a technologically advanced and methodically systematic effort to explore one of Canada’s most significant and underexplored copper-nickel-PGM systems. The combination of historical data, cutting-edge geophysical technology, comprehensive on-the-ground exploration, and strategic land acquisition positions the Muskox Project for a potential major discovery with substantial economic and strategic value in the global mining sector.