Geological Overview Discussion

Discussion Overview

Cyan Capital hosted a technical discussion with North Atlantic Titanium’s management and geological team regarding recent metallurgical work completed on the Everett Project in Québec.

The discussion focused on the implications of the company’s recent mineralogical and metallurgical results, infrastructure advantages, project scale potential, and the upcoming exploration and drilling program expected over the next several months.

Key Takeaways

• Recent testing suggests the Everett Project may contain relatively low levels of deleterious elements compared to many hard rock titanium deposits globally.
• Management emphasized the potential importance of the project’s hemo-ilmenite mineralization and processing characteristics.
• The company highlighted infrastructure advantages including proximity to rail, deep-water port access, hydroelectric power, and the nearby Rio Tinto Lac Tio titanium operation.
• Additional metallurgical testing, surface sampling, and drilling activities are expected throughout 2026.

Metallurgical Results and Mineralogy

Management discussed recent mineralogical work conducted on surface samples collected across the Everett deposit. According to the company, the samples averaged approximately 17–18% TiO2 and demonstrated significant concentrations of hemo-ilmenite and apatite mineralization.

The geological team noted that the deposit appears to contain relatively low levels of magnesium, manganese, aluminum, and chromium compared to many comparable hard rock ilmenite systems. According to management, this could potentially support greater flexibility in future processing and upgrading pathways.

The discussion also highlighted that the Everett mineralization appears to be dominated by hemo-ilmenite, which management described as an uncommon characteristic relative to many titanium deposits globally.

Infrastructure and Regional Advantages

A major portion of the discussion focused on infrastructure and project location advantages.

Management highlighted the project’s proximity to:

• Existing rail infrastructure
• Deep-water port access
• Hydroelectric power
• Established regional mining expertise

The company also referenced the nearby Rio Tinto Lac Tio operation, which has historically been one of the world’s largest titanium deposits and has operated within the region for decades.

According to management, the established mining ecosystem may support future project development and operational scalability.

Exploration and Upcoming Milestones

North Atlantic Titanium outlined several anticipated milestones expected over the coming quarters, including:

• Additional metallurgical testing
• Surface sampling programs
• Handheld drilling and trenching activities
• Initial drilling expected later in 2026
• Ongoing technical evaluation and mineral separation work

Management indicated that future work will focus on identifying the highest-quality portions of the mineralized system while continuing to validate historical and recent metallurgical findings.

Disclaimer

This content is provided for informational purposes only and does not constitute investment advice, a recommendation, or an endorsement of the company or its securities. Investors should conduct their own independent due diligence.