VANCOUVER, British Columbia, June 23, 2026 (GLOBE NEWSWIRE) -- Winshear Metals Corp. (TSX-V: WINS, FRA: 9HR0) ("Winshear" or the "Company") provides the following update on its field activities from the Thunder Bay Gold Project, NW Ontario, as well as the purchase of an assessment credit valued at $608,000.
Thunder Bay 2026 Field Program
The Company has engaged Fladgate Exploration, a geological services company based in Thunder Bay, to execute this summer's field program, comprising soil sampling over the Inflection, MacGregor, El Dorado and Kingfisher Targets, till sampling over newly staked claims to the NE of the Kingfisher Target, and airborne magnetic surveys over both Inflection and El Dorado (see Figure 1 here). Soil and till sampling is underway, and the airborne magnetic survey commenced late last week. The summer field program is expected to be completed by late July.
Based on the gold in till anomalies from the 2025 field program, the Company staked new claims covering a 14km NE extension of the Kingfisher Target, which lies along the major NE trending Kingfisher fault (Figure 1 here).
Purchase of Assessment Credit
The Company has entered in a purchase agreement to acquire certain mineral exploration credits relating to claim 908950 which carries an exploration assessment credit of $608,083. Subject to approval of the TSX-V, the Company will issue 1,000,000 shares and 500,000 warrants to the Vendors. The warrants allow the Vendors to purchase 500,000 shares in the Company at a price of $0.20 / share for a period of 3 years from the approval date. The Vendors are the same group that the Company entered into agreement with in 2025 (see Company News Release dated July 25, 2025 related to the Thunder Bay Gold Project).
Figure 2 shows the configuration of the Thunder Bay Project at this time.
Qualified Person
J. Patricio Varas, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also the Company's President and Director, has read and approved all technical and scientific information contained in this news release.
About Winshear Metals Corp
Winshear Metals Corp. is a Canadian-based minerals exploration company with a nickel-copper-cobalt project in Scotland (the Portsoy Project) and gold / critical minerals project in Ontario (the Thunder Bay Project).
For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws, including statements regarding the proposed acquisition of assessment credits, the anticipated issuance of shares and warrants, receipt of TSX Venture Exchange approval; and the timing, scope, completion and results of the 2026 field program. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: failure to receive TSX-V approval for the proposed share and warrant issuance; the possibility that the proposed acquisition of assessment credits may not be completed on the terms described, or not at all; the possibility that the acquired assessment credits may not provide the expected economic benefit to the Company; uncertainty regarding the interpretation of geological, geochemical and geophysical data; the possibility that the summer field program may not identify targets for follow-up work; uncertainty regarding the continuity, extent, grade and true thickness of mineralization; the possibility that future exploration may not identify mineralization of economic interest; delays or cost increases in completing field work, sampling, surveying or assays; risks related to exploration access, permitting, landholder or community relations, weather, terrain and logistical conditions; availability and cost of exploration contractors, assay laboratories and technical services; changes in commodity prices, exchange rates, capital markets or financing availability; risks inherent in early-stage mineral exploration; changes in applicable laws, regulations or government policy; and the other risks described in the Company's public disclosure record. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
