Mineral & Financial Investments Limited announced the results of the recent high-resolution gravity survey completed by Redcorp Empreedimentos Mineros Lda. (?Redcorp?) and Ascendant Resources Inc. (?Ascendant?)over the Venda Nova North and South Deposits at the Lagoa Salgada VMS Project, in Portugal. Redcorp and Ascendantare developing the Lagoa Salgada Polymetallic Project in Portugal (the ?Project?).

The Project is being managed by Ascendant. M&F owns a conditional 20% carried interest in Redcorp and Ascendant owns the balance. As per the most recent NI 43-101 Feasibility Study published on 25 July 2023, the existing Massive Sulphides at the Venda Nova North deposit represents 4.4 million tonnes of the total 14.6 million tonne Reserve, but given the high grade nature of this material it contributes significantly to the overall NPV of the project due to the significantly higher NSR value per tonne (USD>100 per tonne) as compared to the average material including the other lithologies.

As such, the ability to expand the overall massive sulphide ore content could enhance the overall project economics significantly. The targets have been identified by their gravity signature that closely matches the existing high value, dense massive sulphide orebody we currently have at the Venda Nova North Zone. As a result, the Directors understand that Redcorp is planning a drill program to more fully evaluate this potential in the near future.

The high-resolution survey was designed to map the known gravity footprint of the existing Massive Sulphide Resource of Venda Nova at a much higher resolution than previous surveys, and then use the common characteristics to search for additional potential Massive Sulphide lenses within and surrounding the Venda Nova deposit. The results outlined here have identified four high priority exploration targets each with the potential to add additional meaningful tonnage to the existing Primary Massive Sulphide endowment. The results of the survey also validate the targets suggested by previous IP/Res and TDEM surveys.

The location of these targets and the high-resolution gravity survey are summarized. The survey was conducted between January and February 2024 by McKeown Exploration Services, using a Scintrex CG-6 gravimeter and a Trimble real-time Differential GPS. It consisted of 788 unique gravity stations spaced at a nominal 25 and 50m station spacing on an inclined grid with an azimuth of 66.3°/246.3° true, with lines nominally spaced 100m and 200m apart.

In areas of interest, e.g., the profiles across the known North Zone VMS deposit, the station spacing was tightened to 25m separation in order to permit detailing of the gravitational variation across the known mineralization. A 25m station spacing can define the local profiles well enough to permit downward continuation filtering of the data, to sharpen the resolution of targets deeper than the base of the Tertiary cover. Data analysis was conducted by Intelligent Exploration.