Muzhu Mining Ltd.

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

Company Data

Introduction

Muzhu Mining Ltd. is a junior mining exploration company established in 2018 and incorporated in the Province of British Columbia. Muzhu currently holds 100% interest in its Sleeping Giant South property located in the Val-d’Or region of Quebec, Canada home to the prolific Abitibi Greenstone Belt. The property is comprised of 15,000 acres and is contiguous to the Abcourt, Sleeping Giant Mine. Abcourt re-opened its gold processing mill at the Sleeping Giant Mine in February 2024 and is currently processing ore from the Sleeping Giant Mine, while actively exploring the property to expand its resource.

Muzhu Mining through its wholly-owned Chinese subsidiary (“LSM”) is also focused in the Henan province of China where it has an option to acquire 80% interest in the XWG property and executed a joint venture agreement to acquire an 80% interest in the adjacent LMM property which has exhibited similar silver, zinc, lead mineralization as the XWG property. Both properties are surrounded by 9 active mining properties, 7 of which are operated by Silvercorp Metals Inc. Additionally, Muzhu has executed an exploration agreement to explore historical workings at the Wulonggou Gold Mine. All three projects are located within the heart of China’s largest silver mining area known as the Tieluping Mining District, Henan Province.

Projects in Hand

Sleeping Giant South Project, Quebec, Canada

• 100% owned contiguous claims (15,000 acres)
• NI 43-101 Technical Report Completed Dec. 2020
• MAG and IP surveys completed
• Compilation of historical drill results and geophysical surveys has identified three favorable drill targets
• Adjacent to Abcourt’s currently operating Sleeping Giant Mine and Mill
• Abcourt’s drill results at Muzhu property border greater than 10 g/t Au

Sleeping Giant Mine (Abcourt):

• Mine and mill in production
• 173,000 oz indicated resources at average grade of 7.14 g/t Au
• 248,000 oz of inferred resources at average grade of 8.74 g/t Au
• Modelling of 846 distinct gold structures from 1.19 million meters of drilling and underground exploration
• 2022 drilling result of 125.52 g/t Au over 0.80 metres
• Drill program to enhance resource in progress

Projects in Henan Province of China

Option to acquire up to 80% of the XWG property

• Located in western Henan Province, within the heart of China’s largest silver mining area known as the Tieluping Mining District.
• Muzhu can earn an 80% interest in the XWG property by incurring C$3M in exploration expenditures and issuing 3.75M shares over a period of three years.

Option to acquire up to 80% in Joint Venture LMM property

• Contiguous to XWG property and Silvercorp’s operating mines
• The LMM Joint Venture Agreement was signed January 24 , 2023
• Luoning County Muzhu Mountain Lead & Silver Mine Company will contribute the mining rights including valid certificates as its 20% contribution to the Joint Venture Company, Muzhu Mining’s wholly-owned Chinese subsidiary, Luoyang Sow International Mining Company Ltd. (LSM) can earn an 80% interest in the LMM property joint venture by incurring C$4M in exploration expenditures over a period of three years.
• The company is compiling historical LMM work data
• Initial information shows similar mineralization as XWG and Silvercorp’s LMW
• Good infrastructure, water, power, road access, skilled workforce.
• The Jinqiao floatation mill, 9 km away has a processing capacity of up to 1,000 tonnes per day (t/d)
• Encircled by Silvercorp’s SGX, HPG, HZG and DCG Mines and directly adjacent to the LME, LMW, and TLP Mines as well as two Chinese owned gold and silver mines to the south and southeast (LWM & LM).
• Since 2006, Silvercorp has produced more than 100 million oz Silver and 1.4 Billion lbs of Lead and Zinc with current Measured and Indicated resources of 175 M oz and 79 M oz of Inferred Silver in China.
• Silvercorp is the largest domestic primary silver producer in China, the third largest silver-producing country in the world.

WLG Exploration Agreement on site of producing Wulonggou Gold Mine

• Located 21 km northeast of XWG and LMM properties on site of Wulonggou Gold Mine.
• Muzhu executes three-year exploration agreement of WGM F12 vein with option to joint venture. Several other veins in Wulonggou Gold Mine are currently in production.

Wulonggou Gold Mine – WGM F12 Vein

• Muzhu’s Chinese subsidiary (“LSM”) paid a C$190,000 refundable deposit to investigate F12 vein at the Wulonggou Gold Mine (“WGM”), Xishan Township, Luoning County, Henan Province, China.
• WGM has historical workings on WGM F12 vein with other veins in the mine currently in production
• LSM signs 3-year prospecting agreement on WGM F12 vein with option to joint venture
• Muzhu has completed a new portal (684) and 70m drift to reach the WGM F12 historical workings at WGM site
• Sampling confirmed grades consistent with Chinese historical WGM F12 records and with other veins in the WGM system currently being worked
• 5,000-ton bulk sample being prepared to be processed in local floatation mill 10 km away
• Muzhu’s subsidiary LSM receives advance payment of $40,000 on bulk sample from the Wulonggou Gold Mine

Management

Management, Directors, and Advisors

Dwayne Yaretz, CEO and Director

Mr. Yaretz is a seasoned entrepreneur with more than 35 years experience in corporate leadership. He began his international career as Vice-President of China Power Generation Corporation and Asla Power Engineering Corporation, developing co-generation facilities in Mainland China. Subsequently, Mr. Yaretz acted for several publicly traded companies in various capacities including President and CEO, Corporate Secretary and Chief Financial Officer and is experienced in mergers and acquisitions as well as in the financing of numerous private and public ventures.

Mr. Yaretz has structured both Initial Public Offerings and Reverse Takeovers in various business sectors, including technology, manufacturing as well as multiple mining exploration projects with properties in China, United States, Chile and Canada. Mr. Yaretz has also served on the Board of Directors with numerous companies involved in technology, clean-tech, agri-business, sustainable packaging, consumer electronics, and as well as in the mining exploration sector.

Vivien Chuang, CPA, CA, CFO

Ms. Chuang has more than fifteen years of experience in the resource and mining sector. Currently, Ms. Chuang is President of VC Consulting Corp. Ms. Chuang is fluent in both English and Mandarin.

Anthony Tam, BSc.Eng., Director and V.P. China Operations

Mr. Tam has over 35 years of experience in the mining industry including numerous management positions in both North America and China. Mr. Tam has been instrumental in the acquisition, exploration, and development of numerous mineral properties. He has been successful in negotiating various joint venture agreements in China, along with conducting preliminary geological and engineering assessments of mineral properties. Mr. Tam is fluent in both English and Mandarin.

James Stanley, Director

Mr. Stanley is an accomplished corporate finance professional with diverse experience and a strong background in corporate start up, development and growth where he held several senior positions including COO, President and GM.

William (Bill) Thomson, Director

Mr. Thomson has had a multifaceted career that has spanned over 60 years and provided unparalleled leadership as a CEO for 17 public and private companies across multiple industries, including finance, real estate, shipping, hospitality, gaming, energy, media, and many more. He currently serves as a Managing Partner of Mercana Growth Partners.

James C. Tworek, Advisor

Mr. Tworek has worked in banking and finance for the past 23 years. He is the CEO of Element79 Gold Corp.; Co-founder, President and Director of Gaia Grow Corporation and a Director of Florence One Capital.

Paul McGuigan, P.Geo., Advisor

Mr. McGuigan is a Professional Geoscientist with 49 years of international experience in mineral exploration, deposit evaluation, mine operations, and corporate governance.

News Update

On December 30, 2025, Pursuant to a director resolution that was passed on Dec. 19, 2025, Muzhu Mining Ltd.'s board of directors has approved the name change of the company from Muzhu Mining Ltd. to North Atlantic Titanium Corp. The name change aligns with the company's strategic focus to advance the Everett titanium deposit in Quebec.

In connection with the name change, the company will change its ticker symbol to NATO. The company's common shares are expected to begin trading on the Canadian Securities Exchange following its approval under the new name and ticker symbol on or about Jan. 5, 2026.

No action is required to be taken by shareholders with respect to the name change. Outstanding share and warrant certificates are not affected by the name change, and do not need to be exchanged. The previously announced name change to Grenville Mines Inc. will not proceed and shall be superseded by the name change to North Atlantic Titanium Corp.

On December 23, 2025, Muzhu Mining Ltd. announced that the Company has closed the second tranche (the “ Second Tranche ”) of its previously announced non-brokered offering (the “ Offering ”) for gross proceeds of $250,000, pursuant to which the company issued 3,125,000 flow-through units of the Company (the “ FT Units ”) at a price of $0.08 per FT Unit.

The net proceeds from the sale of Units will be used to fund the initial option payment for the Everett titanium property in Quebec (the “ Everett Property ”), working capital and general corporate purposes. The gross proceeds from the sale of FT Units will be used for surface exploration, metallurgical testing, and verification of historical exploration work at the Everett Property. Upon permitting, diamond drilling is planned for selected locations in the northern extremity of the Everett oxide body.

On December 17, 2025, After signing Muzhu Mining Ltd.'s definitive option agreement to acquire the Everett property from Romaine River Titanium Inc., Romaine has mobilized a sampling crew to Havre-Saint-Pierre and the property.

Romaine has a significant collaboration agreement since October, 2024, with Centre technologique des residus industriels (CTRI), Impact Global Solutions (IGS) and Corem, in support of metallurgical testing at the Everett titanium-vanadium project located in Quebec.

Highlights:

• Romaine's field crews mobilized upon signing of the definitive option agreement. Collection of metallurgical samples is under way. The company committed to assist Romaine and collect the sample as part of its due diligence process for the acquisition.
• Funding for the Romaine program is provided by the Elements08 Strategic Metals Excellence Centre, funded by the government of Quebec.
• The program comprises a $462,000 budget, which includes a non-dilutive funding award of up to $323,000.
• Romaine is in good standing with the Elements08 program, having fulfilled all obligations except for the collection of metallurgical samples for additional testing.
• This program aims to investigate the extraction of titanium and vanadium from the Everett hemo-ilmenite oxide body, near Havre-Saint-Pierre, Que. It is designed to test the quality of oxide mineralization for titanium and vanadium production.

Dwayne Yaretz, chief executive officer of the company, commented: "The financial benefit of the Romaine collaboration agreement with Elements08 is certainly valuable to the Everett project. However, the company considers the depth of metallurgical process research expertise provided by the Elements08 team to be invaluable. We will continue our efforts to foster deep connections in Quebec in furtherance of a creating the foundation of a robust critical minerals supply chain."

On December 11, 2025, Muzhu Mining Ltd. announced that the Company has closed the first tranche of its previously announced non-brokered offering (the “ Offering ”) for gross proceeds of $250,000, pursuant to which the company issued 3,125,000 flow-through units of the Company (the “ FT Units ”) at a price of $0.08 per FT Unit.

In addition, due to strong investor demand, the company has upsized the Offering from aggregate gross proceeds of $750,000 to $1,000,000.

The net proceeds from the sale of Units will be used to fund the initial option payment for the Everett titanium property in Quebec (the “ Everett Property ”), working capital and general corporate purposes. The gross proceeds from the sale of FT Units will be used for surface exploration, metallurgical testing, and verification of historical exploration work at the Everett Property. Upon permitting, diamond drilling is planned for selected locations in the northern extremity of the Everett oxide body.

On November 28, 2025, Muzhu Mining Ltd., to be renamed Grenville Mines Inc., has entered into a definitive option agreement with Romaine River Titanium Inc. dated Nov. 26, 2025, pursuant to which the company has acquired an option to earn, subject to the satisfaction of certain conditions, an undivided interest of up to 75 per cent in the Everett titanium property, located 40 kilometres from the port city of Havre-Saint-Pierre, Que., and three km from Rio Tinto's producing Lac Tio titanium mine.

In connection with the agreement, Muzhu intends to undertake a non-brokered private placement offering of securities of the company for aggregate gross proceeds to the company of up to $750,000 in a combination of:

1. Up to $500,000 in units of the company at a price of six cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant;
2. Up to $250,000 in flow-through units of the company (the FT units) at a price of eight cents per FT unit. Each FT unit will consist of one common share that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one warrant.

Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 10 cents per warrant share at any time up to 24 months following the closing of the offering.

The net proceeds from the sale of units will be used to finance the initial option payment for the Everett project, working capital and general corporate purposes. The gross proceeds from the sale of FT units will be used for surface exploration, metallurgical testing and verification of historical exploration work at the Everett project.

On October 09, 2025, Muzhu Mining Ltd. has arranged a non-brokered private placement of up to 6.25 million units at eight cents per unit for an aggregate amount of up to $500,000. Each unit is composed of one common share of the company and one non-transferable share purchase warrant. Each warrant is exercisable for a period of two years for the purchase of one additional common share of the company at a price of 12 cents per share, subject to the following acceleration provision: Should the common shares of the company trade on an exchange for 15 or more consecutive days at a price of 15 cents or greater, the company may, at its option, provide written notice to the holder requiring that the warrants be exercised within 30 days of the date of the notice, failing which the warrants shall immediately thereafter expire.

Proceeds will be used for general working capital and to further the company's exploration projects.

On October 01, 2025, Muzhu Mining Ltd. announced that its precious and base metal exploration plans for its 6,149-hectare Sleeping Giant South Property (the “Property”), in the Nord-du-Québec administrative region.

Sleeping Giant (Géant Dormant) Mine – Resumed Operations & First Gold Pour by Abcourt.

The Property abuts and straddles a 15 km wide swath across the southern boundary of Abcourt Mines Ltd.’s operating Sleeping Giant (Géant Dormant) Mine. Public awareness of the Sleeping Giant Mine was significantly raised on September 12, 2025, when Abcourt announced its first gold pour from the resumed underground mining operations.

Muzhu is seeking a Géant Dormant-type deposit on its abutting Property. While the presence of economic mineral deposits on the adjacent Sleeping Giant Mine is not necessarily indicative of similar mineralization being present on the Property, limited drilling, geological mapping, and geophysical responses indicate that the prospective Cycle 1 felsic and mafic volcanics and intrusive dykes extend from the Sleeping Giant Mine onto the Property across a broad 15 km-wide swath.

Muzhu conducted a high-definition aeromagnetic survey (2021) of the entire Property and, later, an airborne time-domain EM survey (2025). Taken together, this exploration delineates the expected geological trends on the Property but cannot reliably detect vein- and disseminated-sulphide mineralization. Notably, the sparse historical drill holes on the Property target zones of faulting and shearing to explore orogenic gold deposits.

Muzhu conducted a high-definition aeromagnetic survey (2021) of the entire Property and an airborne time-domain EM survey (2025). Taken together, this exploration delineates the expected geological trends on the Property but cannot reliably detect vein- and disseminated-sulphide mineralization. Notably, most historical drill holes on the Property target zones of faulting and shearing to explore orogenic gold deposits.

Due to the extensive prospective area, Muzhu plans to conduct a unifying geophysical survey, such as a 3D Induced Polarization/Resistivity survey, capable of detecting stockwork veins and sulphide disseminations related to epigenetic precious and base metal mineralization. In the case of the Property, the survey will target disseminated sulphides that occur in and around the dacite intrusions, which introduced gold during Cycle 1 volcanics. That gold is pre-orogenic and cannot be found drilling younger shear zones.

Muzhu will contract an experienced geosciences company to interpret and combine the new survey with historical till sampling, drilling, and high-resolution aeromagnetic survey data (2021) and the recently completed airborne time-domain EM survey (2025). The plan is to map the geological formations first, and secondly, sulphide concentrations, to target a diamond drilling program.

On September 24, 2025, Muzhu Mining Ltd. has completed its private placement announced on Sept. 10, 2025, for gross proceeds of $175,000 from the sale of 1.75 million flow-through units at a price of 10 cents per unit. Each flow-through unit consists of one flow-through common share and one common share purchase warrant entitling its holder to purchase one common share at 14 cents for a period of three years from the date of issuance. The proceeds from the financing will be used for exploration purposes.

Fourteen thousand dollars in cash were paid by the company with the grant of 140,000 share purchase warrants to a finder with respect to the private placement. All of the securities distributed under the foregoing private placement are subject to a four-month hold period, which will expire on Jan. 18, 2026.

Proceeds will be used for Canadian mineral exploration projects.

On September 10, 2025, Muzhu Mining Ltd. has arranged a non-brokered flow-through private placement of 4.25 million units at 10 cents per unit for an aggregate amount of $425,000. Each unit comprises one flow-through common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 14 cents per share for a three-year exercise period.

All of the securities distributed under the foregoing private placement are subject to a four-month hold period from the date of issue. The offering is subject to approval by the Canadian Securities Exchange. Fees payable in cash, warrants or a combination thereof may be payable to eligible individuals.

Proceeds will be used for Canadian mineral exploration projects.

On September 05, 2025, Muzhu Mining Ltd. has completed its private placement announced on Aug. 8, 2025, for gross proceeds of $154,239 from the sale of 1,542,390 units at a price of 10 cents per unit. The company increased its private placement from 1,259,000 units at 10 cents per unit to 1,542,390 units as a result of subsequent subscriptions. Each unit is composed of one common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 14 cents per share for the first year and 20 cents per common share for the second year, subject to the following acceleration provision: If the closing price for the common shares of the company as traded on the Canadian Securities Exchange is equal to or greater than 30 cents per common share for any 20 consecutive trading days occurring any time after the expiry of the four-month hold period, then the subscriber shall have until 4 p.m. Vancouver, B.C., time of the 30th calendar day after the company's news release announcement of the occurrence of the threshold period to exercise the share purchase warrants. The share purchase warrants shall expire on the earlier of the last day of the two-year exercise term or the accelerated expiry date. The issuer shall issue no other notice other than such news release.

On August 08, 2025, Muzhu Mining Ltd. has closed a private placement of 1,259,000 units at 10 cents per unit for gross proceeds of $125,900. Each unit comprises one common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 14 cents per share for the first year and 20 cents per common share for the second year, subject to the following acceleration provision: if the closing price for the common shares of the company as traded on the Canadian Securities Exchange is equal to or greater than 30 cents per common share for any 20 consecutive trading days occurring any time after the expiry of the four-month hold period, then the subscriber shall have until 4 p.m. (Vancouver, B.C., time) of the 30th calendar day after the company's news release announcement of the occurrence of the threshold period to exercise the share purchase warrants (the accelerated expiry date). The share purchase warrants shall expire on the earlier of the last day of the two-year exercise term or the accelerated expiry date. The issuer shall issue no other notice other than such news release.

All of the securities distributed under the foregoing private placement are subject to a four-month hold period from the date of issue, proceeds will be used for working capital and exploration projects.

On July 24, 2025, Muzhu Mining Ltd. announced the $500,000 unit financing.

The company seeks to complete a non-flow-through financing for general and administrative expenses and to advance its mineral exploration projects, as follows.

Sleeping Giant South property, Quebec: interpretation of its recently completed heliborne time domain electromagnetic survey by Prospectair Geosurveys. The property abuts Abcourt Mines Inc.'s Sleeping Giant mine, and the company will update its current National Instrument 43-101 technical report with recommendations for a 2025 exploration and drilling program.

Silver properties, Henan province, China: The company holds the XWG and LMM properties within the Ying/Tieluping silver-lead-zinc mining district, located approximately 145 kilometres southwest of Luoyang and 240 km west-southwest of Zhengzhou, the capital city of Henan province, China. The company intends to mobilize a qualified person to update the historical National Instrument 43-101 technical report on the XWG property and attend the contract mining of bulk sampling on the nearby WLG F12 vein.

Everett titanium-vanadium-iron-phosphorus property, Quebec: Proceeds will also be used to fulfill the company's due diligence on the acquisition of this critical mineral property, abutting Rio Tinto's Lac Tio mine property near the port of Havre St. Pierre, as announced on June 2, 2025.

On June 26, 2025, Muzhu Mining Ltd. pleased to re-announce that the Board of Directors of the Company has approved the grant of 1,850,000 incentive stock options which the Company announced its intention to do so under its April 22, 2025 news release. The options shall have an exercise price of $0.10 per common shares and an exercise term of 3 years expiring June 26, 2028.

On June 2, 2025, Muzhu Mining Ltd. announced that it has entered into non-binding Letter of Intent with Romaine River Titanium Inc. (“Romaine”) of Georgetown, ON to acquire an initial 50% Option of the Romaine’s Everett titanium-iron property (the “Property”) located 40 km from the port city of Havre-Saint-Pierre, Quebec. The Everett Property comprises 49 mineral tenures covering 2,406 ha (5,946 acres) and is owned 100% by Romaine.

Romaine, which is a private, federally-incorporated holding company, is presently active on the Property with surface sampling and metallurgical testing over the surface outcrop of the Everett deposit. Early in the Property's history, 34 diamond drill holes defined a significant historical mineral resource. Later, 71 closely-spaced sites and two bulk sample sites were sampled on the surface of the Everett deposit, with assay and metallurgical samples obtained over a 3.5 km of outcrop.

The Property spans the eastern margin of the Proterozoic Havre-Saint-Pierre anorthosite massif. Anorthosite massif deposits are of significant economic interest for critical mineral commodities , including Fe–Ti oxide minerals (for titanium, vanadium, and iron), and apatite minerals (for phosphorus, often including rare earth elements).

Dwayne Yaretz, CEO , stated: " Critical minerals will increasingly define the future of mining and sustainable development. By partnering with Romaine River Titanium Inc., Muzhu can enter this sphere by focusing on verifying the historical programs. Muzhu has “drill-ready” targets and can immediately proceed with drilling and confirmation metallurgical testing, with reduced risk compared to typical critical mineral exploration programs. The Everett deposit is well-located adjacent to road access, hydroelectric power, an active mining town, and full port facilities."

On May 01, 2025, Muzhu Mining Ltd. announced the Prospectair Geosurveys of Gatineau, Québec , has successfully completed a heliborne time-domain electromagnetic (TDEM) survey on Muzhu’s wholly-owned Sleeping Giant South Property (the “Property”) , located in the region of Abitibi-Témiscamingue, Québec, Canada.

The Property abuts the mineral tenures of the Sleeping Giant Mine of Abcourt Mines Inc. (TSX-V: ABI) . Abcourt recently announced that it has secured debt financing of US$8 million (approximately CDN$11 million) to complete the financing required for the restart of its Sleeping Giant mine and mill. In addition to Abcourt, the district is being actively explored by Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (through its acquisition of O3 Mining Inc.) and Midland Exploration Inc. (TSX-V: MD).

Prospectair was commissioned to test a central 6 km E-W segment of the Property with the ProspecTEM Time-Domain system with a 5.6-meter loop diameter. According to the report received from Dubé (2025).

Prospectair previously surveyed the Property for Muzhu with a high-resolution heliborne magnetic survey (Dubé, 2021), that shows distinct, E-W linear magnetic responses. The new TDEM data shows adjacent, continuous conductors correlative to the Laflamme-Nord shear zone and the volcanic-sedimentary units described in the NI43-101 technical report by Charbonneau (2021) as the Vanier–Dalet–Poirier Group, which also hosts the gold deposit at the Sleeping Giant Mine. This new TDEM survey will form a robust foundation for the restart of gold exploration on the Property, in combination with data from historical work and the Prospectair high-resolution magnetic survey.

Muzhu has retained Québec-based geoscience consulting services to assemble the historical drilling and sampling and submit recommendations for property exploration and drill targeting.

On April 28, 2025, Muzhu Mining Ltd. has arranged a non-brokered private placement of up to five million units for 10 cents per unit, with each unit consisting of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one share at a price of 14 cents per share for a period of 12 months from the closing and at a price of 20 cents per share for a period of 24 months from the closing. The exercise period for the warrants may be accelerated to 30 days if, at any time after the first four months of the warrant exercise period, the volume-weighted trading average of Muzhu's common shares over a period of 20 consecutive trading days exceeds 30 cents.

The proceeds of up to $500,000 from the financing will be used for working capital. Fees payable in cash, warrants or a combination thereof may be payable to eligible individuals.

On April 24, 2025, Muzhu Mining Ltd. has retained Cavendish Investment Corp. Group of Companies as its non-exclusive financial adviser to provide advisory and corporate finance activities.

Cavendish has established itself as a significant player in Asia. Its strategic location in Hong Kong allows the firm to leverage the region's economic growth and serve as a key bridge between Eastern and Western markets.

With deep local and international market knowledge, the firm expertly navigates complex cross-border transactions with its network and relationship with family offices and institutional investors.

Dwayne Yaretz, chief executive officer, had this to say: "We are looking forward to working with Cavendish in our shared effort to expand our institutional and retail outreach throughout Asia by highlighting our portfolio of assets in both Canada and China. Together, we look forward to executing our strategic exploration plans on the company's 100-per-cent-owned 15,000-acre Sleeping Giant South property in the prolific Abitibi greenstone belt of Quebec, as well as further developing our assets in the Ling mining district of Henan province, China."

On April 23, 2025, Muzhu Mining Ltd. has appointed William E. (Bill) Thomson to its board of directors. Mr. Thomson is the managing partner of Mercana Growth Partners. He brings a 60-plus-year record of achievement, completing turnarounds, sourcing private-equity capital for emerging growth companies, and providing critical guidance and advice to help steer businesses through challenging situations toward growth. Prior to 2009, he was president of Thomson Associates Inc. In this capacity, he held interim chief executive officer positions for several companies in a variety of industries.

The company advises that Aaron Meckler has resigned from the board of directors and wishes to thank him for his service.

The company wishes to announce the grant of 1.85 million incentive stock options at the exercise price of 10 cents per common share exercisable for a three-year term expiring April 22, 2028.

Dwayne Yaretz, chief executive officer, commented: "We are all looking forward to benefiting from the vast experience Bill Thomson can bring to Muzhu Mining by utilizing his global expertise and relationships as we further develop our current and future projects in Quebec and China. On behalf of the board of directors, I would like to thank Aaron Meckler for his years of service."

On April 17, 2025, Muzhu Mining Ltd. announce that the Company has retained Prospectair Geosurveys of Gatineau, Québec, to conduct a heliborne time-domain electromagnetic (TDEM) survey on its wholly-owned Sleeping Giant South Property (the “Property”), located in the region of Abitibi-Témiscamingue, Québec, Canada.

The Property abuts the mineral tenures of the Sleeping Giant Mine of Abcourt Mines Inc. (TSX-V: ABI). Abcourt recently announced that it has secured debt financing of US$8 million (approximately CDN$11 million) to complete the financing required for the restart of its Sleeping Giant mine and mill.

Prospectair has mobilized to the Property and should complete their work by April 30.

Prospectair previously surveyed the Property for Muzhu with a high-resolution heliborne magnetic survey (Dubé, 2021). This historical work, in combination with the new TDEM survey data will form a robust foundation for a focused gold-silver exploration program on the Property.

Concurrently, Muzhu will retain geological consulting services to assemble the historical drilling and sampling and submit recommendations for property exploration and drill targeting.

On March 18, 2025, Muzhu Mining Ltd.'s wholly owned Chinese subsidiary Louyang Sow International Mining Company Ltd. has restarted the bulk sampling program of the WLG F12 vein at the Wulonggou gold mine after work was suspended at the end of 2024. The labour force has returned after the Chinese New Year break, and new excavating equipment is now on site.

Bulk sample stockpile at portal entrance: The first 5,000-ton bulk sample will be sent to the Luoning county Jun De Hong Yu flotation mill for processing. The flotation mill is approximately 10 kilometres from the Wulonngou mine and has a 1,000-ton-per-day capacity.

The Wulonggou gold mine is located in Xishan township, Luoning county, Henan province, China. Luoning county encompasses numerous gold-silver producing mines and historical producers. The historical WLG F12 vein was exposed after excavating a new portal and 70-metre adit. Samples taken from the WLG F12 vein, in areas previously mined, were consistent with the Chinese historical records and some of the other veins in the Wulonggou gold mine that are currently in production.

January 10, 2025, Muzhu Mining announced that it has closed the non-brokered private placement announced on November 18, 2024 for gross proceeds of $139,330.40 from the sale of 1,741,630 units of the Company at a price of $0.08 per unit.

https://muzhumining.com/muzhu-completes-private-placements/

December 27, 2024, Muzhu Mining announced that it has arranged a non-brokered private placement of 2,223,000 flow-through units at nine cents per FT unit for gross proceeds of $200,070.

https://muzhumining.com/muzhu-announces-flow-through-private-placement/

December 17, 2024, Muzhu Mining announced that its Chinese subsidiary Luoyang Sow International Mining Company Ltd. has received a 200,000-renminbi (about $40,000) advance payment against a bulk sample from the Wulonggou Gold Mine.

https://muzhumining.com/muzhu-receives-advance-payment-on-bulk-sample-from-wulonggou-gold-mine/

December 13, 2024, Muzhu announced that its Chinese subsidiary Luoyang Sow International Mining Company Ltd. has commenced 5,000 ton bulk sampling at the Wulonggou gold mine.

https://muzhumining.com/muzhu-commences-5000-ton-bulk-sample-at-wulonggou-gold-mine/

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