BWAP BWA Group plc

14 May 2024

BWA Group PLC

("BWA", the "Group", or the "Company") (AQSE: BWAP)

Granting of Additional Claims at the Winterhouse Project

Kings of the North ("KOTN"), Quebec, Canada

BWA Group Plc [AQSE: BWAP], which has mineral exploration licences in both Cameroon and Canada and is quoted on London's AQSE Growth Market, provides an update on its 27 new claims, largely contiguous to the prospective Winterhouse gold project, part of the wholly owned KOTN licence group, Quebec, Canada ("Winterhouse" or the "Winterhouse Project").

The Winterhouse gold property can be found at the eastern edge of the Archean Opatica Geological Sub-Province, located in the northeastern region of Quebec, Canada. The property itself, is situated around 95 km west of Fermont (Figure 1) and 385 km north of Baie-Comeau. The Winterhouse licence group now consists of 90 claims totalling 4,703 hectares (47 km2) (Figures 1 and 2).

The licence area is highly prospective for Archean greenstone-hosted gold and base metals, with several gold anomalies within, and high-grade occurrences and good drill intersections from Stelmine's Courcy project, contiguously to the south and west of the property (Figures 2, 3 and 4).

A full illustrated version of this announcement, including maps and figures can be accessed via the PDF link below.

Summary

KOTN have increased their landholding across prospective terrains at their Winterhouse licence group by the recent granting of 27 new claims for an additional 14 km2. The mixture of contiguous and non-contiguous claims now totals 90 claims for 47 km2 and surrounds the existing landholding. Furthermore, they are between and adjacent to Stelmine's Courcy project claims, which border the Winterhouse property (Figure 2).

Significant historic gold values have been reported at Winterhouse and these vary from 0.1 to 1.7 g/t Au from 12 rock samples taken on two main gold areas located each on different large geophysical anomalies, located in the northern half part of the property (Figure 3). The adjacent Stelmine property has numerous rock samples with a high of 24.8 g/t Au and 1.2% Cu (2017) taken on a similar N-S trending 2.5 km2 mineralised zone (Figures 3 and 4).

BWA look forward to incorporating these additional claims in preparation for the regional exploration programmes for the Winterhouse licence group, planned for the 2024 field season.

James Butterfield, Managing Director of BWA, commented:

"We are pleased to announce that we have been granted 27 additional claims, which will enable us to explore new areas in the prospective Opatica Subprovince. We are delighted with the ongoing support and confidence shown in BWA by the Quebec Mines department, and we eagerly anticipate exploring the new opportunities that these claims will provide us with."

Geology and Geological Interpretation

The property is within the Archean Superior Province and the eastern part of volcano-plutonic rocks of the Opatica geological sub-province and located around 8 km south of the metasedimentary rocks of the Opinaca sub-province which hosted Newmont's Eleonore gold mine in La Grande Rivière region of James Bay (3.8 million ounces Au) and 11 km north of the front of Proterozoic Grenville province.

The Opatica sub-province has hosted several past-producing gold mines such as Lac Troilus (produced 67.8 mt @ 1.06 g/t Au) and Eastmain mine (produced 0.94 mt @ 9.99 g/t Au) within volcano-plutonic rocks, as well as numerous gold occurrences, published online at the Sigeom website (Natural Energy and Resources of Québec).

Within the Winterhouse licence area, three geological formations have been previously observed: 1) pillowed metabasalt and banded metachert of the Soulard formation; 2) andesitic metavolcanic and metapyroclastic rocks, as well as felsic rocks such as rhyolite flows and meta exhalite with silicate and sulphide facies of the banded iron formation intruded by gabbro-diorite sills of the Courcy formation; (3) hornblende-biotite-bearing leucotonalite, locally pegmatitic, of the Atticoupi formation. Other geological units are recognised in the area, such as biotite-garnet-bearing paragneiss, metasandstone, conglomerate, peridotite and pyroxenite intrusions.

Competent Person's Statement

The information in this report, which relates to the KOTN (BWA) Winterhouse Project is based upon, and fairly represents information collected and compiled by Mr Lewis Harvey, MSc., Principal Consulting Geologist for Addison Mining Services, who is a Member of the Australian Institute of Geoscientists.

The results were reviewed by Mr J.N. Hogg, MSc. MAIG, Principal Geologist and CEO for Addison Mining Services and Non-executive Director of KOTN.

Mr Harvey and Mr Hogg have sufficient experience relevant to the style of mineralisation, the type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the JORC Code 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Harvey and Mr Hogg have reviewed and verified the technical information that forms the basis of and has been used in the preparation of this announcement, including all sampling and analytical data, and analytical techniques where applicable. Mr Harvey and Mr Hogg consent to the inclusion in this announcement of the matters based on the information, in the form and context in which it appears.

Forward-Looking Statement

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement.

No obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. 

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