Cartier Resources Inc. announced the results of its fourth mineral resource estimate for the Chimo Mine Gold System, located 45 km east of Val-d'Or. The estimate, completed and made available on the effective date of August 22, 2022, was carried out by MM. Vincent Nadeau-Benoit, P.Geo., and Alain Carrier, P.Geo., M.Sc.

from the firm InnovExplo Inc.; Independent Qualified Persons within the meaning of NI 43-101. The estimate was carried out on 8 mineralized structures, intersected by 4,982 m of drilling, having produced 802 different gold intersections. High grade capping was carried out from statistical analysis data at each of the gold structures for values varying between 30 g/t Au and 120 g/t Au from the grade of the composites, also using the grade adjacent material or a value of zero when adjacent material has not been analyzed.

The underground openings (open or backfilled-cemented mine sites, drifts, raises and shafts) were modeled from transverse and longitudinal sections as well as detailed historical geological and mining plans. Historical underground production has been subtracted from the resource estimate. The Chimo Mine resource estimate was performed using GEOVIA GEMS 6.8.2. Software, from capped and composited analyses, constrained by the modeled structures.

The ordinary kriging method was used to interpolate the block model composed of blocks of dimension 5.0 m x 5.0 m x 5.0 m. For the West Nordeau deposit, gold resources were estimated using Leapfrog Edge v.2021.2.5 software from capped and composite analyses, constrained by the modeled structures. The ordinary kriging method was used to interpolate a model with sub-blocks (size of a parent block = 5.0 m x 5.0 m x 5.0 m). The mineral resource estimate presented here is classified as indicated and inferred resources.

The indicated category is defined by a minimum of 3 drill holes located within a 25 m radius and the presumed category is defined by a minimum of 2 drill holes located within a 65 m radius, where there is reasonable continuity of geology and gold grades. Ounce troy is metric tons multiplied by grade (g/t) and divided by the constant of 31.10348. The number of tonnes has been rounded to the nearest thousand.

Any discrepancy in the totals is due to rounding effects. The rounding complies with the recommendations of NI 43-101. The qualified persons are not aware of any problem related to the environment, permits, mining titles or related to legal, fiscal, socio-political, commercial issues or any other relevant factor not mentioned in this press release, that could have a significant impact on the 2022 mineral resource estimate.