Nord Precious Metals Mining Reviews Historical Feasibility Study for Castle-Gowganda Property

Cobalt, ON — May 11, 2026 — Leads & Copy — Nord Precious Metals Mining Inc. (TSXV: NTH, OTCQB: CCWOF, FSE: QN3) has reviewed a 1987 feasibility study by Kilborn Limited regarding the re-milling of silver tailings deposits on Nord’s Castle-Gowganda property.

The Kilborn report, which is publicly available, documents approximately 2 million recoverable ounces at 85% metallurgical recovery, a 1,000 TPD process design, and financial projections at US $6 to $12 per ounce silver.

The company has begun confirmatory metallurgical testwork and an updated resource estimate.

Frank J. Basa, P.Eng., President and CEO, stated that the Kilborn report is the product of engineering by a firm whose work is still referenced across Canada’s major mining camps. He added that the report answers the question of whether the material can be processed at scale, and that the answer, across every independent test program conducted over four decades, is yes. Basa also noted that Kilborn modeled returns at six to twelve dollars per ounce, and that every previous operator held a sound technical position in an unsound price environment, a condition that has reversed.

Key highlights from the 1987 report include:

Daily processing of 1,000 tonnes of tailings per day, for a seasonal operation of 8 months per year (225,000 tons per year); annual gross silver production of approximately 325,000 ounces for 7 years, yielding approximately 2 million recoverable ounces at 85% metallurgical recovery over the mine life; silver recoveries of better than 85% attainable with sufficient grinding and leach retention time, confirmed by multiple independent test programs spanning four decades; and financial projections at US $6, $8, $10, and $12 per ounce silver, with Kilborn projecting a 49.3% internal rate of return at $12.

Kilborn Limited, founded in 1947 by Roland Kenneth Kilborn, designed and built many of Canada’s mining operations. The firm was acquired by SNC-Lavalin in 1996. The Gowganda study included contributions from Witteck Development Inc. (metallurgy), SENES Consultants Limited (environment), and Markham Data Incorporated (financial analysis).

Key findings of the 1987 feasibility study include a resource base of approximately 1,827,000 tons of proven tailings reserves at 1.43 oz/t Ag, process design using standard cyanide leach with Merrill-Crowe recovery with a 1,000 TPD capacity over an eight-month seasonal window (225,000 tons/year) for a seven-year production life and silver precipitation at 98.9% efficiency, metallurgical recovery of better than 85% silver attainable with additional grinding (450-500 HP vs. 250 HP) and a leach extraction curve flattened at approximately 35 hours retention time, a capital cost of CDN $4.5M (1987 dollars, ±20%), and an operating cost of CDN $1.255M/year.

The Kilborn study applied a declining head grade model, reflecting the planned sequence from accessible higher-grade deposits to lower-grade material. Financial modeling projected a 49.3% internal rate of return at $12 silver.

The Kilborn study is the earliest layer in a four-decade accretion of independent technical work. Each program was conducted by a different firm using a different methodology, and each confirmed the fundamental amenability of the Gowganda tailings to processing at commercially relevant recoveries:

The company has engaged GeoVector Management Inc. to update the 2011 historic mineral resource estimate across the consolidated Castle-Gowganda land package. Tailings samples have been taken to begin metallurgical testwork to confirm the 1987 results under current standards. The Company will also be submitting a revised application for a Recovery Permit. The updated Mineral Resource Estimate and supporting NI 43-101 Technical Report are expected in the second half of 2026.

Nord Precious Metals Mining Inc. operates TTL Laboratories. The Company’s 63 sq. km flagship Castle property, with the addition of 225 hectares of leases, now hosts 3 of the 5 most productive past-producing silver mines in the Gowganda Camp.

The Castle East discovery has delineated 7.56 million ounces of silver in a now historic, Inferred resource grading 8,582 g/t Ag (250.2 oz/ton) in 27,400 tonnes from the Castle East Robinson Zone (NI 43-101 Technical Report, effective May 28, 2020; see press release). Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Gowganda leases host an historical NI 43-101 Indicated tailings resourceof approximately 1,940,000 tonnes grading 47.5 g/t Ag for approximately 2,960,000 contained ounces of silver at a 10 g/t cut-off (GeoVector Management, 2011). The historical estimate has not been verified as a current mineral resource and the Company is not treating it as such.

Nord’s integrated processing strategy enables multiple metal recovery streams including cobalt, nickel, and other strategic metals via the Re-2Ox hydrometallurgical process, validated at pilot scale through SGS Lakefield. The Company maintains a 35% ownership in Coniagas Battery Metals Inc. (TSXV: COS).

Source: Nord Precious Metals Mining Inc.