Eskay Mining Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Eskay Mining Corp. (TSXV: ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the Golden Triangle, 70km northwest of Stewart, British Columbia.

Eskay Mining is one of the largest landowners in the Golden Triangle with 177 claims (52,600 hectares) and is surrounded by some of the largest mining companies in the world.

Projects in Hand

The Search for District-Scale Gold-Silver-Rich Volcanogenic Massive Sulphide (VMS) Deposits and Other Potential Precious Metals Models in the Golden Triangle, British Columbia, Canada.

Eskay Project, Golden Triangle, British Columbia

Eskay Mining's 100-per-cent-controlled-and-consolidated Eskay project is located in the heart of the Golden Triangle in British Columbia.

The Company's geological team, through systematic prospecting and sampling, has significantly expanded the area where high-grade gold veins were discovered in 2024. Samples from areas including Vermillion, TM, Red Lightning, and Big Red, zones surrounding Unuk Finger Mountain in the southern extent of the Property, have all yielded numerous high-grade assays.

2025 Select Highlights

• 10 rock samples assayed over 20 g/t Au, 20 samples assayed over 10 g/t Au, 37 samples assayed over 5 g/t Au, and 68 samples assayed over 1 g/t Au out of a total of 298 surface rock samples
• Select individual high-grade spot rock chip results include:
• 246 g/t Au, 22.8 g/t Ag, and 0.25% Cu
• 150 g/t Au, 76 g/t Ag, and 1.57% Cu
• 86.2 g/t Au, 180 g/t Ag, and 2.63% Cu
• 71.4 g/t Au, 15.8 g/t Ag, and 0.66% Cu
• 33.7 g/t Au, 257 g/t Ag, and 2.7% Cu
• 28.8 g/t Au, 363 g/t Ag, and 0.49% Cu
• Also noteworthy, a 21.8 g/t Au, 19.9 g/t Ag, and 0.69% Cu channel sample over 1.00m was cut at Vermillion

“Eskay's geological team did a superb job following up on last year's exciting discovery of high-grade gold-silver veins in the southern reaches of our 100%-controlled Consolidated Eskay Project this season,” commented Quinton Hennigh, Director and Technical Advisor to Eskay Mining. “With these initial assays, we can now see that there is a wide distribution of veins, some displaying very high grades of gold and silver, across an area at least 2 km wide. This system is demonstrating it has capacity to make high-grade over a large expanse, and our BLEG stream sediment data indicates we have lots more room to grow. I think, given the large magnitude of the BLEG results here coupled with these very strong surface results, we are defining a new high-grade gold-silver vein system akin to those seen at Goliath Resources and Juggernaut Resources, also in the Golden Triangle.”

2025 Exploration Program

The 2025 exploration program at the Eskay Project includes extensive surficial sampling, reconnaissance geological mapping, and channel sampling across target areas around the Unuk Finger Mountain with the goal of advancing early-stage prospects into drill ready targets. A total of 298 rock sample and 29 channel sample assays have been received to date with further sampling ongoing on the Vermillion, TM and Big Red zones. In addition, a Worldview 3 high-resolution satellite imagery survey has been collected across the property. Hyperspectral imaging and detailed orthophotos will help support focused exploration efforts across Eskay's 200 sq. km project area.

Target areas around Unuk Finger Mountain in the southeast portion of the Eskay claim block were first explored in the late 1980's but the area has seen limited exploration activities in recent years. Between 2020 and 2022, a bulk leach extractable gold (BLEG) stream sediment sampling program was conducted across large portions of the Eskay Project which identified numerous anomalous gold zones with particularly strong anomalies occurring in watersheds around the Unuk Finger mountain. Initial follow-up work in 2024 around BLEG anomalies successfully identified vein-hosted gold and silver mineralization at the Vermillion and TM zones and follow-up in these areas has been the primary focus of exploration efforts in 2025. Exploration conducted across these target areas has identified significant vein-hosted gold and silver mineralization spanning over two kilometres on surface with visible gold observed in multiple quartz-sulphide veins.

(See news release dated September 17, 2025)

Management

Management and Directors

Hugh M. (Mac) Balkam, President/CEO, Director

Mr. Balkam was with the Royal Canadian Mounted Police for 13 years, many of those involved in the investigation of stock market related fraud. In 1981, he resigned to become a financial consultant with a major brokerage firm, where he managed investments for retail clients. Since 2004, Mr. Balkam has been involved in raising venture capital and consulting for junior mining companies. Mr. Balkam joined the Board of Directors and became CEO of Eskay Mining Corp. during the fourth quarter of 2009. He holds a BA from the University of Toronto.

Carmelo Marrelli, Chief Financial Officer

Mr. Marrelli is a principal of Marrelli Support Services Inc. He also serves as the Chief Financial Officer of several publicly-listed junior mining companies and as a director of Odyssey Resources Limited. He holds a Bachelor of Commerce degree from the University of Toronto and is qualified as a Chartered Accountant and as a Certified General Accountant in Canada.

Bill Johnstone, Corporate Secretary

Mr. Johnstone has been a partner at Gardiner Roberts LLP since February, 2005. He has been practising law for over 30 years. He is also a director and/or officer of four other TSX Venture Exchange-listed companies and three Canadian Securities Exchange-listed companies.

Robert Myhill, Vice President of Finance and Director

Mr. Myhill for 20 years was the president and CEO of Canadian Investors Corp. He was president of a national company within the Jim Pattison Industries Group. Mr. Myhill also was VP of corporate development and finance at Southstar. He holds an HBA and an MBA from the IVEY school of business administration at the University of Western Ontario and earned a CA designation while with Price Waterhouse.

Dr. Quinton Hennigh, Director and Technical Advisor

Dr. Hennigh is an internationally known economic geologist, with over 25 years of exploration experience and expertise with major gold mining companies such as Homestake Mining Company, Newcrest Mining Ltd. and Newmont Mining Corp. He is currently chairman of Novo Resources Corp., which is actively exploring for gold in Western Australia. Dr. Hennigh is credited with the discovery of the Springpole alkaline gold deposit near Red Lake, Ontario, for Gold Canyon Resources, and the Rattlesnake Hills gold project in Wyoming for Evolving Gold. He holds a bachelor of science from the University of Missouri, and an MSc and a PhD in geology and geochemistry from the Colorado School of Mines.

J. Gordon McMehen, Director

Mr. McMehen is co-founder and Chairman of Conundrum Capital Corporation. He served as Executive Vice-President, Chief Operating Officer and director of Central Park Lodges Ltd. At the law firm of Gardiner Roberts, Mr. McMehen practiced corporate and commercial law from 1978 to 1998. He acted as Managing Partner of the firm from 1994 to 1998.

Thomas Weiss, Director and Chief Geophysics Advisor

Mr. Weis is a minerals exploration geophysicist with over 35 years of exploration experience working for both major and junior mining companies worldwide. He is currently the president of Thomas V Weis and Associates Inc., a geophysical contracting and consulting company.

News Update

On February 26, 2026, Eskay Mining Corp. has released its exploration plans for 2026 at its consolidated Eskay project, Golden Triangle, British Columbia. As presented in company news releases dated Sept. 17, 2025, and Nov. 7, 2025, during 2025, Eskay expanded its Vermillion, TM and Big Red targets, and also identified a promising new target named Sultan, all of which lie within two kilometres of the important Kyba line unconformity, which appears to control so many key porphyry deposits in the Golden Triangle.

All four of these targets display characteristics suggesting proximity to either a porphyry copper/gold deposit or, particularly in the case of Sultan, a stacked gold vein deposit such as the Surebet deposit recently discovered by Goliath Resources Ltd.

Eskay is currently refining exactly where to place boreholes to sample both Vermillion and TM to depths of up to 350 metres, and may extend this drilling to Big Red and Sultan, depending on additional surface work to be carried out over these targets concurrent with the drilling.

Camp facilities, helicopter services and drilling capacity have been secured. A field team is being assembled by Apex Geosciences Ltd. Geologists who are responsible for the recent discovery in 2024 and 2025 along the Vermillion-TM trend, as well as the new Sultan area, will also be contracted for assistance with field exploration.

In preparation for the field season and future artificial intelligence analysis of previous exploration results, two Apex geologists are currently transferring the company's historical geochemical database into Rogue Geoscience's Mantle database system and the company's proprietary geological maps into QGIS. In parallel, in3D Geoscience has been contracted to transfer all the company's geophysics surveys into Mira Geoscience's geoscience analyst system. Eskay, Apex and in3D all have the expertise to integrate these data sets for AI analysis, as may be appropriate.

Eskay is also currently analyzing Worldview 3 hyperspectal imagery covering the eastern half of the property, which was purchased late in 2025. Alteration patterns not visible in standard satellite images in hitherto unsampled areas have been identified and will be used to guide surface sampling by the Eskay field crew in 2026.

On January 12, 2026, Clinton Smyth has joined Eskay Mining Corp. in the capacity of chief geologist responsible for the company's 2026 exploration program. Mr. Smyth will direct the continuation of the successful exploration of the past two seasons on the new discovery along the C10-Vermillion-Ted Morris trend situated in the southern portion of the company's 100-per-cent-controlled consolidated Eskay project.

Mr. Smyth is a successful mining exploration executive. During a 25-year career with Anglo American Corp. and Minorco, he rose to the position of vice-president, exploration. He obtained an MSc in geochemistry from the University of Cape Town, South Africa. He also holds an MSc in computer science from Imperial College in London, United Kingdom. Beyond extensive exploration work throughout Africa and Australasia, he led teams responsible for the discovery of the two-million-ounce Buzwagi gold deposit in Tanzania and the Saddle South gold deposit in British Columbia.

Mac Balkam, chief executive officer and president, commented: "Two thousand twenty-five high-grade assays that included one rock chip sample of 297 g/t of gold and 790 g/t Ag in the Vermillion-Ted Morris four-kilometre-long belt strengthened our commitment to the 2024 discovery. With that in mind, we are excited to have Clinton join Eskay and to lead the team on what we plan will be a significant advancement of the Vermillion-TM zone discovery."

Mr. Smyth is currently preparing for the most extensive exploration season since 2023. He is assembling an experienced team to aid in interpreting the wealth of data Eskay has gathered over the past number of years. The Worldview 3 satellite imagery acquired last September is being interpreted and will play a significant role in identifying TM zone drill targets and further exploration along the belt.

Eskay has a strong balance sheet with cash of $3-million and holds no debt.

Mr. Balkam added: "In keeping with our discipline of financing with the minimum amount of dilution, we are currently aggressively seeking alternatives to traditional stock issues. With the dramatic increase in commodity prices, our goal is to monetize previously unrecognized asset values. In recent years, drilling programs across the huge Eskay property has given rise to a host of gold/silver discoveries that may well be strategic opportunities for neighbours of Eskay and otherwise. In 2023, we sold to Skeena Resources claims for $4-million, which played an important part in our fight against dilution in difficult market conditions. Further, our holding of 15 per cent of Garibaldi Resources Inc. has risen more than threefold in the past six months and added $3.5-million to Eskay's investment value. Garibaldi holds a world-class-grade nickel deposit in its E&L Nickel Mountain property. We are weighing the strategic investment relative to the significant cash available for Eskay's current exploration financing needs. We may be able to finance the Vermillion-TM zone drill program and advance other known deposits such as TV with these various sources of alternative financing."

On November 07, 2025, Eskay Mining Corp. provided the additional assay results from its prospecting and sampling program at its 100% controlled Consolidated Eskay Project ("CEP") in the Golden Triangle, British Columbia. Over the summer months of 2025, the Company's geological team systematically prospected and sampled the Vermillion, TM, Red Lightning, and Big Red zones surrounding Unuk Finger Mountain in the southern extent of CEP where high grade gold veins were initially discovered in 2024.

Select Highlights:

• This most recent batch of 121 spot rock chip and channel results includes eleven samples assaying over 20 g/t Au and 31 samples assaying over 1 g/t Au.
• The highest grade spot rock chip assays include;
  • 297 g/t Au and 790 g/t Ag collected from a quartz-sulfide vein at TM zone,
  • 217 g/t Au and 0.44% Cu collected from a quartz-sulfide vein at Vermillion zone,
  • 106 g/t Au and 54.9 g/t Ag collected from a quartz-sulfide vein at TM zone, and
  • 65.7 g/t Au, 31.5 g/t Ag, and 0.31% Cucollected from a quartz-sulfide vein at Vermillion zone.
• A channel sample assay at the TM Zone returned 165 g/t Au and 285 g/t Ag over 0.40 m within 45.5 g/t Au and 75.2 g/t Ag over 1.55m.
• A new gold-silver target, the Sultan zone, discovered in the southeastern corner of the claim package returned an initial assay of 11.2 g/t Au and 181 g/t Ag.

"Further expansion of the high-grade vein discovery in the southern portion of our Consolidated Eskay Project now fully explain the robust, large-scale BLEG stream sediment anomaly we identified around Unuk Finger Mountain in recent years," commented Quinton Hennigh, director and technical advisor to Eskay Mining. "High-grade veins display a pattern of commonly being low-angle and stacked a few tens of meters apart. Veins are comprised of quartz and varying contents of sulfides including base metal sulfides, especially chalcopyrite. We are now seeing broad distribution of these veins, and they appear to display a spatial relation with a nearby Lee Brant Eocene intrusion not unlike those observed at both Goliath Resources' Surebet project and Juggernaut Exploration's Big One project. This new target style is generating a lot of excitement in the GT, and we think we may have a similar such exploration target emerging at CEP. We can see a path to inaugural drilling of these veins in 2026."

On November 05, 2025, Eskay Mining Corp. completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $1.26-million

Offering: 2.25 million charity flow-through shares with 1,125,000 warrants attached

Offering price: 56 cents per charity flow-through share

Warrant exercise terms: 65 cents per listed share for a two-year period

Commissions in securities: 135,000 finders' warrants

Commission terms: Each non-transferable warrant is exercisable at 40 cents per listed share for a two-year period.

Disclosure: Refer to the company's news releases dated Aug. 1, 2025, and Aug. 29, 2025.

September 17, 2025, Eskay Expands High-Grade Vein-Hosted Gold-Silver Mineralization at its 100% Controlled and Consolidated Eskay Project in the Golden Triangle

https://eskaymining.com/news/news-releases/eskay-expands-high-grade-vein-hosted-gold-silver-m-11488/

August 29, 2025, Eskay Mining Announces Closing of Non-Brokered Charity Flow-Through Private Placement

https://eskaymining.com/news/news-releases/eskay-mining-announces-closing-of-non-brokered-cha-10957/

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