Scottie Resources – Trial Mining Bulk Sample Will Generate CAD$9M, Update On Ore Sorting, Feasibility Study Workstreams, Exploration Program, and DSO Pathway

Dec 12, 2025

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Dr. Thomas Mumford, President of Scottie Resources (TSX.V:SCOT – OTCQB:SCTSF), joins me to review the key takeaways from the Bulk Sample report, when compared with expectations from the October 2025 Preliminary Economic Assessment (PEA). Additionally, we get an update on the ongoing ore-sorting studies, what was learned from this year’s drill program, the preparation for the largest drill program to date in 2026, and the Feasibility Study workstreams underway at the Scottie Gold Mine Project; located in the Golden Triangle of British Columbia.

The recent PEA outlined a robust Direct-Ship Ore (“DSO”) development scenario for the Scottie Gold Mine Project, with strong economics and leverage to the current gold price environment, and additional upside potential through local toll milling. The DSO process was successfully demonstrated during this trial mining and Bulk Sample, which was mined at the Bend Vein pit at the Scottie Gold Mine Project, then mucked, visually sorted, and crushed over the 2025 summer season. The transportation of this material was completed moving around 100 truckloads of material down the Granduc road to the Stewart bulk shipping facility without any concerns or challenges, and it is going to be shipped over to Ocean Partners imminently.

Highlights:

An estimated 4,588 wet tonnes have been prepared for export to an Ocean Partners facility in Taiwan with better-than-expected average preliminary assays of 15.89 g/t gold and 42.28 g/t silver
Per the Company's agreement with Ocean Partners, a 90% upfront payment is to be received five days after sailing at a gold price of US$4100/oz and silver price of US$49.50/oz
Vessel has been booked and is expected to be loaded between December 10th and 12th 2025
The final 10% payment will reconcile any difference between estimated and final ounces and will be priced based on metal values at the time grades are finalized and agreed upon. It is estimated that gold sold will generate a net profit of ~CAD$9Million.

Thomas outlines that the company plans to move straight into work streams for a Feasibility Study (FS), with actual cost estimates and more detailed economics, as the next major economic study to be undertaken. The FS is slated to take about 8-10 months after all the 2025 drill results from the 27,309 meter program are in hand and integrated into their resource model.

We got into the resource assumptions used in the PEA and Thomas outlined how these resources are going to expand now that 4 diamond drill rigs were turning this year in the largest exploration program to date, across different parts of the high-priority Blueberry Contact Zone, and around the past-producing Scottie Gold Mine. A key initiative was infilling areas with tighter spacing, focused on upgrading the resources from inferred to indicated categories at the Blueberry Contact Zone. However many of the holes also went deeper, doing some true exploration work with a focus on expanding the potential open pit and upper portions of the underground resources at both Blueberry and Scottie areas.

Wrapping up we discussed the preparations for the largest drill program to date for 2026, the various Feasibility Study workstreams, and the financial strength of the company which is fully-funded for all these initiatives.

If you have any questions for Thomas regarding Scottie Resources, then please email them in to me at Shad@kereport.com.

In full disclosure, Shad is a shareholder of Scottie Resources at the time of this recording and may choose to buy or sell shares at any time.

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