Joutel spans 39 km², located approximately 70 km southwest of Matagami and 125 km north of Amos. The project is contiguous with the southern boundary of the Douay Gold Project and is accessible via Highway 109, which cuts across the project area.

Joutel straddles the Harricana Break and its eastern continuation, the Joutel Deformation Zone, over 15.7 km. See Figure 1 below for the location of Joutel and the Eagle-Telbel deposits relative to Douay.

Figure 1: Plan view on regional base map showing outline of Douay/Joutel/Eagle property outline with Casa Berardi Deformation Zone, Douay resource area and Douay regional targets.

For general details on Québec’s infrastructure and mining jurisdiction, refer to the Company’s presentation or the Douay Gold Project page.

The Joutel Gold Project overlaps the intersection between the northwest-southeast Harricana Deformation Zone and the east-west Joutel Deformation Zone, which collectively mark the southern limit of the CBDZ (Figure 1 and Figure 2).

In the Joutel project area, the uppermost cycle of the Joutel Volcanic Complex, called The Mine Sequence of the Joutel Camp, consists of a thick footwall rhyodacitic to dacitic pyroclastic unit, overlain by interbedded clastic and chemical sedimentary units, fine to coarse felsic pyroclastics, and mafic flows. Within this sequence, a continuous near-vertical horizon termed the Main Iron Carbonate Horizon (MICH), with strong iron carbonate (ankerite) alteration and quartz-carbonate veining, hosted the bulk of past gold production (Figure 2).

In the Joutel mine area and to the northwest, the Mine Sequence is overlain by the Harricana Sedimentary Sequence, which is in fault contact with the Cartwright Mafic Volcanic Sequence to the north.

To the southeast, the Harricana Sedimentary Sequence thins rapidly, and a complex sequence of predominantly felsic tuffs (C-Horizon hanging wall - North Mine Horizon footwall), with various clastic and chemical sediment units, occurs between the Harricana Sedimentary and Cartwright sequences. Two iron carbonate units, North Mine and South Mine Horizons, have also been identified as secondary exploration targets.

All sequences are cut by late major east-northeast to northeast trending Proterozoic diabase dykes.

Figure 2: Plan view map of the Eagle-Telbel Area highlighting the MICH Horizon, Drill Target Areas, and 2025/2026 Completed Drill Holes

The gold mineralization found at Joutel is mostly consistent within its three mains areas, Eagle, Telbel and Eagle West. Gold mineralization exploited at the mines was hosted in steeply dipping to near-vertical semi-massive pyrite-iron carbonate horizons cut by quartz and quartz-dolomite veins and veinlets. Base metal values are low in the mine areas. Quartz-carbonate veinlets in footwall tuffs and carbonate-silica-pyrite alteration zones within the Mine Andesite locally carry significant gold (over 1 g/t), and the top of the Harricana Sedimentary Sequence can also occasionally carry gold.

Both Eagle and Telbel mines are found within a subvertical northwest-southeast striking unit of the Mine Sequence, which hosts several high-grade principal ore shoots plunging at about  55° to  60° to the southeast (Figure 3).

Figure 3: Joutel longitudinal section with Eagle-Telbel Underground Workings & Mined-Out Stopes (in grey) and 2025-2026 Completed Drill Holes with Significant Assay Results. Looking Northeast.