LONDON, ONTARIO / ACCESS Newswire / January 28, 2026 / Treasure Oakes Resources Inc. (the "Company") is pleased to announce it has filed the independent technical report entitled "NI 43-101 TECHNICAL REPORT on the Ferris Lake Project - J. Burns Ni-Prospect Mond and Raymond Townships, Larder Lake Mining District, Ontario, NTS: 41P14A" (the "Technical Report") for its 100% owned flagship Ferris Lake Property located in Northern Ontario, Canada. The report has been filed on SEDAR+ and will also be available on the Company's website. The technical report confirms the project as a "Property of Merit" and recommends a two phase exploration program. A drill permit has been granted by the Ministry of Energy and Mines for a first phase 5,000 meter drill program. Discussions with First Nation communities is ongoing.
"We are excited by the results of the NI 43-101 report and the granting of our drilling permit at Ferris Lake," said Jim Renaud, Chief Executive Officer of Treasure Oakes Resources Inc. "The combination of scale, geologic setting, and early mineralogical indicators underscores the potential of this property to host significant nickel-cobalt-chromium mineralization. With drilling now approved, we look forward to advancing exploration and unlocking potential value for our shareholders."
The NI 43-101 report was prepared by an independent Professional Geoscientist (P.Geo) with international experience across multiple geological models. The study incorporated historic drill core (TM-99-001) housed at the Kirkland Lake Ontario Ministry of Northern Development and Mines (MNDM) core library. The 1999 drill core was re-sampled, with the final 52.2 meters of ultramafic rock cut and analyzed. Thin section analysis was conducted by the Mineral Deposit Research Unit (MDRU) at the University of British Columbia, and preliminary ore characterization was completed by Renaud Geological Consulting Ltd.
Assay results confirm an ultramafic chemistry representing a large homogeneous dunite beneath 342 meters of Gowganda Formation metasediments. Sampling across 52.2 meters of dunite indicates elevated background levels of nickel (average 0.244% Ni), cobalt (average 0.011% Co), and chromium (average 0.105% Cr). The size, chemistry, and geologic setting of the Ferris Lake ultramafic body highlight its strong potential for magmatic nickel sulfide mineralization, representing a compelling exploration target. Historic drill hole TM-99-001 ended in Ni-Co-Cr-bearing dunite at a depth of 395 meters.
Government regional airborne magnetic surveys had identified a prominent bullseye anomaly measuring roughly 4.2 km by 3.8 km, with a mineralized core of approximately 2,400 square meters within a broader 4,000-square-meter target area.
Mineralogical findings from MDRU identified Ni-Co-Cr-bearing phases, while Renaud Geological Consulting Ltd. reported low-sulphur Ni-Co-Cr mineralization including heazlewoodite, cobaltpentlandite, Ni-bearing magnetite, and Ni-bearing chromite.
The Company's consulting geologist generated the grades noted above. The potential quantity and grade of the exploration target are conceptual in nature at this stage, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
About Ferris Lake Property
The Ferris Lake Property comprises 225 mining claims covering approximately 4,640 hectares and hosts the Ferris Lake Prospect (J. Burns Nickel Occurrence), an 80-claim package located within Mond and Raymond Townships. The Property lies approximately 75 km south-southeast of Timmins, 30 km northwest of Gowganda, and north-northeast of Shining Tree, Ontario.
About Treasure Oakes Resources Inc.
Treasure Oakes Resources Inc. is a Canadian junior exploration company focused on the acquisition, exploration, and development of mineral properties with strong potential for critical minerals and precious metals. The Company is committed to responsible exploration practices and creating long-term value for shareholders through the discovery and advancement of high-quality mineral assets in Ontario and beyond.
Forward-Looking Statements and Cautionary Statement
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the Company's current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, exploration results, geological interpretations, permitting, financing, commodity prices, and general economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by law. Any reference to potential quantity and grade contained in this press release is conceptual in nature and there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Robert Dillman, P.Geo, Director of Treasure Oakes Resources Inc. and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For more information, please contact:
Dr. Jim Renaud, Chief Executive Officer and Director
ON BEHALF OF THE BOARD OF DIRECTORS
Jim Renaud, PhD, P.Geo.
Chief Executive Officer
E: jim@treasureoakes.com
T: 519-808-3618
SOURCE: Treasure Oakes Resources
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/treasure-oakes-resources-inc.-announces-completion-of-ni-43-101-report-and-drilli-1131252
