Ramp Metals Announces Receipt of Exploration Permit and Commencement of 2024/25 Gold Exploration Campaign

Ramp Metals Inc. (TSXV: RAMP) (‘Ramp Metals’ or the ‘Company’) is pleased to announce the receipt of necessary permits to continue exploration at the Company’s Rottenstone SW project. The Company will focus on its Ranger target where 73.55 gt Au over 7.5m was discovered. Mobilization of the field crew for the mapping and sampling program will occur on October 7, 2024.

‘The Ramp Metals team hit a world class gold intercept after only one exploration season on site. Historically, the Rottenstone SW property has not been explored in detail. Saskatchewan is very underexplored in general, which shows the potential for a new gold district. The team will use the data from this mapping and sampling program to help prioritize areas for drill targeting,’ commented Jordan Black, CEO and Director of Ramp Metals Inc.

Figure 1: Area of Focus for the Sampling and Mapping Program

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/225441_42fbd23f34d0dab5_001full.jpg

The goals of this program will be to attempt to find and trace the mineralized high-grade Quartz-Diorite at surface, and to follow up on the two samples (5.11 g/t and 1.09 g/t) from October 2023 which were found in a more mafic rock package.

Due to the presence of mineralization in two different rock packages, multiple samples will be taken from all lithologies encountered during the program. This has the potential to highlight more packages of interest and generate additional drill targets. Mapping and sampling of the surface bedrock units is critical to build a database of information essential for modeling important units and targeting mineralization accurately for the upcoming drill program.

The Ranger target has bedrock exposed at surface; therefore, the focus will be on collecting rock samples and mapping of bedrock. In lower lying areas of interest, where cover is thick and no outcrop is visible, soil samples will be taken.

The lower priority zones in Figure 1 are targets generated from our 2023 EM and Magnetic geophysical survey and will be visited if time allows. Bedrock exposure around the Rogue target is minimal and covered by 1-10m of overburden.

The Company is currently permitted for mapping, sampling and geophysics until December 2025. An amendment to allow up to 5000m of drilling has been submitted to the Saskatchewan Ministry of Environment.

In addition, Ramp Metals also announces that the Company has adopted a stand-alone restricted share unit plan (the ‘RSU Plan’) in order to supplement its existing stock option plan, and granted an aggregate of 720,000 restricted share units (or RSUs) to certain directors, officers and consultants of the Company. Both the RSU Plan and the Company’s existing stock option plan are ‘rolling up to 10%’ plans, and the RSU Plan remains subject to the approval of the Company’s shareholders as well as the acceptance of the TSX Venture Exchange (the ‘TSXV’). In accordance with the policies of the TSXV, none of the RSUs will vest until the date that is 12 months following the grant date, subject to certain limited exceptions.

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’ within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225441