DRILLING AND EXPLORATION UPDATE OUTLOOK FELIX-LAMAUNE JUNIOR LAKE PROPERTY

(AIM ticker: LND.L)

This announcement contains privileged information as defined in Article 7 of the Regulation on Market Abuse No. 596/2014

LONDON, November 17, 2022 /CNW/ – landore limited resources (AIM: LND) (“Landore Resources” or “the Company”) is pleased to present a progress report on the drilling and exploration program being carried out on the Felix-Lamaune prospects on the Junior Lake property of the Company. ontario, canada.

In July 2022 Landore has commenced an exploration program, consisting of 7,500 meters of drilling along with further soil samples, in the highly prospective Felix-Lamaune areas located to the immediate west for 11 kilometers along strike of the BAM gold deposit and the nickel B4-7/VW. Deposits of Copper-Cobalt-Palladium-Platinum (Ni-Cu-Co-PGE).

Felix Drill Program:
A drill program consisting of 21 drill holes for 3800 meters of diamond core NQ 0422-827 to 0422-845 plus 1122-152 and 1122-153 has been completed in the Felix area from 1100W to 5000W along strike to West from BAM Battery B4-7/VW Gold and Metal Deposits.

Reflexes:

  • Drill hole 0422-845, located 3500W, intersected p significantAladium-enriched nickel mineralization over 21.74 meters reporting 0.10% nickel, 0.12% copper, 0.01% cobalt, 0.34 g/t palladium, 0.11 g/t platinum of 115.1, including 1.45 g/t palladium and 0.51 g/t platinum over 0.7 metres. Mineralization is hosted in a sheared Gabbro unit.

  • The above intersection extends Grassy Pond Prospect, discovered in 2008 (see RNS of 30theSeptember 2008 for more details), for an additional 250 meters along strike to the east from drill hole 1108-30 which reported palladium-enriched nickel mineralization over 22 meters of 0.10% Ni. 0.13% Cu, 0.01% Co, 0.25 g/t Pd and 0.09 g/t Pt of 5.0 meters also hosted in sheared gabbro. The Grassy Pond prospect now extends from 3500W to 4150W and remains open to the east and west.

Commenting on this report, Landore Resources CEO, bill humphriessaid:

“The Grassy Pond Prospect above promises to be yet another link in the chain of Battery Metals deposits/prospects so far identified along the southern margin of the Grassy Pond Sill from the palladium-enriched Nickel Carrot Top zone in the west to the B4- 7 Nickel-Copper-Cobalt-Platinum Group metals deposit 11 kilometers to the east This is only a small part of the highly prospective 30-kilometer shear zone for Battery Metals and Gold that runs through Landore’s Junior Lake property “.

Lamaune Drill Program:
On the 20th, a diamond drilling campaign of 3,700 meters began.the October in the highly prospective Lamaune area, beginning in the Carrot Top Nickel zone, located on the Lamaune grid between 10500E and 11500E along strike of the BAM gold deposit and south of the Lamaune gold deposit. The Carrot Top zone was previously drilled between 2003 and 2010 and reported significant palladium-enriched nickel mineralization, including drill hole 1108-25 intersecting 5.48 meters of 0.33% Ni, 0.15% Cu, 0 0.02% Co, 0.28 g/t Pd and 0.08 g/t point of 85.0m. The current program aims to fill in the above area to allow for modeling for resource purposes. To date, 11 boreholes of 1,889 meters have been completed. All test results are outstanding. Once the drilling of Carrot Top is complete, the drilling rig will be moved to the adjacent Lamaune Gold Prospect to begin an infill and extension program.

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Exploration – Soil Sampling:
During the summer of 2022, soil sampling was conducted on the Junior Lake property with the goal of infilling and extending the 2019/20 soil sampling program (see soil report dated 14theJanuary 2021). A total of 1,699 samples were collected, including QAQC samples. The soil sampling consisted of collecting in the horizon B at a nominal space of 25m.

Felix Zone: An extension tillage and fill soil sampling program has been completed in the 5.5 kilometer long Felix zone located to the immediate west and along strike of the BAM gold deposit. A total of 1177 tillage samples were taken to fill in the existing wide spaced samples taken in 2020/21 along with extending the western area from 4000W to 6000W by 1.5 kilometers further south to cover a geophysical anomaly area. highly prospective identified by the 2004 geophysics program.

Lamaune Area: In addition, the soils program has been extended further west along strike into the adjacent Lamaune area covering the Carrot Top Battery Metals prospect, 377 tillage soil samples, and further west on the historical Zona Dorada de Placer, 145 samples of soil tillage.

Collection and interpretation of the results of the previous soil tillage sampling program are ongoing and will be included in a report expected to be completed in the first quarter of 2023.

Felix Drill Program:
The program was divided into three zones:
Zone 1: It comprises 9 drill holes of 1509 meters (0422-827 to 0422-834), to explore a group of conductors MM-23, 24, 27 and 28 along the northeast portion of Felix from 1100W to 2000W. All lithologies found at BAM were observed at Felix but are significantly less deformed. Anomalous gold was recorded, with the highest recorded being a near-surface intercept of 438 ppm in drill hole 0422-832 over 1.1 meters from 55.0 meters.

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Zone 2: Comprised of 7 1,280 meter drill holes (0422-835 to 0422-842), to explore the MM-21 east conductor, a possible extension of Zone B4-8, along the southeast area of ​​1300W Felix at 1700W. The lithologies were similar to those of B4-8, however, the intercepted conductors were generally associated with a mildly to moderately deformed banded iron formation. The results indicate some elevated gold, copper, and cobalt results, including:
Drill 0422-839 reporting 0.39g/t Au and 1.46% Cu over 1.07m of 36.33m.
Drill 0422-840 reporting 1.82g/t Au and 0.81% Cu over 1.14m of 31.00m.
Drilling 0422-842 reporting 1.90g/t Au and 0.03% Co over 0.53m of 145.87m.

Zone 3: It comprises 5 holes of 1005 meters (0422-843 to 0422-845 and 1122-152 and 1122-53) to explore the MM-21 west conductor plus the 3000W to 5000W Grassy Pond prospect. Results were generally promising, especially in the immediate vicinity of the Grassy Pond prospect, including:
Drilling 0422-843 reporting 0.61% Pd and 0.19% Pt over 1.97m of 162.53m.
Drilling 0422-845 reporting 0.34g/t Pd and 0.11g/t Pt over 21.74m of 115.10m.
Including 1.45 g/t Pd and 0.51 g/t Pt over 0.70m of 116.30m
and 1.86g/t Au and 0.55% Cu over 1.00m of 23.00m.

It is planned to drill 50 meter advance and retreat holes to 0422-845 prior to the completion of the 2022 season to determine the geometry of mineralization and plan for an infill extension drill campaign of the Grassy Pond prospect in 2023.

The Junior Lake Property:
The Junior Lake Property, 100% owned by Landore Resources, together with the adjoining Lamaune Iron Property (90.2% owned) (jointly the “Junior Lake Property”), consisting of 33,029 hectares, is located in the Province of ontario, canadaapproximately 235 kilometers north-northeast of thunder bay and is host to; the BAM Gold Deposit; Deposit B4-7 Nickel-Copper-Cobalt-Platinum-Palladium; the VW Nickel-Copper-Cobalt Deposit; Lamaune Gold Prospect and many other precious and base metal cases.

michele tuomi(P.Geo., BSc. Geology), Director/Vice President of Exploration for Landore Resources Canada Inc. and a Qualified Person as defined in Canadian National Instrument 43-101 and the AIM Rules for Companies, has reviewed and verified all scientific or technical mining disclosures contained in this anouncement.

SOURCE Landore Resources Canada Inc.

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