About

The Kerr-Addison Project is Cadillac Mines Corporation’s flagship asset, located on the site of the historic Kerr-Addison Mine in McGarry Township, Ontario. The project is located along the prolific Cadillac-Larder Lake Break, one of the world’s most productive gold-bearing structures.

Since acquiring the project in 2015, the Company has completed water-sampling programs, environmental baseline studies and extensive drilling programs, expanded its land position and continued to demonstrate significant exploration and development potential across the property.

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Kerr-Addison Deposit

3.4 Moz Au (78.5 Mt @ 1.34 g/t Au)
Indicated Mineral Resources

2.2 Moz Au (25.9 Mt @ 2.66 g/t Au)
Inferred Mineral Resources

209,258M Drilled
At the Kerr-Addison Property and the Geminid Project
Since the Acquisition of Cadillac Mines

4,712-Hectare Kerr-Addison Property
Primarily in McGarry Township

Project Management Team

History

Historically, the Kerr‐Addison Mine is Canada’s fifth-largest individual gold mine, and, between 1938 and 1996, the Kerr‐Addison and Chesterville mines, which make up the Kerr-Addison deposit, collectively produced more than 11 million ounces of gold (Kerr‐Addison: 35.3 metric tonnes [Mt] grading 9.1 grams per tonne [g/t] Au; Chesterville: 3.0 Mt grading 3.8 g/t Au) (Smith et al., 1993; AJ Perron Gold Corp., 1998). Almost all historical production was carried out using underground extraction methods.

Historically, the zones of mineralization at Kerr‐Addison and Chesterville were named “ore bodies,” the term the historical miners used to refer to individual segregated mining areas. There were 20 Kerr‐Addison ore bodies and nine Chesterville ore bodies.

As the property’s history dates back to the early 20th century, exploration and drilling records are incomplete. The historical record, made available to Gold Candle when it acquired Kerr-Addison in 2015, includes logs for 6,543 drill holes totalling 415,145 metres of drilling data from 1934 to 2012. These records are not a complete capture of historical drilling on the property. Since the mine shutdown, the original hard-copy records were relocated several times, and, in the process, some records were lost or damaged (original records were handwritten and are commonly faded or partially illegible).

The historical timelines for the Kerr-Addison and Chesterville mines are largely based on Sim and Davis (2021), Touchette (2012) and Thomson (1941).

For historical resource estimates, past production history and historical “ore-body” production for the Kerr-Addison and Chesterville mines, please reference Kerr-Addison’s technical report.

1938–2014

2015

2017–2023

2024

2025

2026

Past producers

1938: The first gold bar was poured on June 11, 1938.
1963: Exploration on the property was discontinued, and mining continued only as a salvage operation. This was due to the realization that economic mineralization had pinched out completely by the 4,600-foot level.
1987: Golden Shield Resources Ltd. (Golden Shield) acquired the property and an aggressive exploration program was initiated.
1989: Operations ceased due to a sharp drop in the price of gold, resulting in Golden Shield being forced into bankruptcy. Golden Shield assets were acquired by GSR Mining Corporation (GSR), a subsidiary of Deak Resources Corporation.
1993: GSR was acquired by Gwen Resources Ltd. (Gwen Resources), which utilized the Kerr-Addison process plant to process ore trucked from its Astoria Mine in Granada, Québec.
1996–1997: The mine ceased operations amid a legal dispute, and in November 1997, the property’s surface rights were acquired by 12111394 Ontario Ltd.
2010: Armistice Resources Corp. (Armistice Resources) entered into an option agreement to purchase up to 100% of the mining rights on the Kerr‐Addison Mine Property.
2011–2012: Armistice Resources completed 48 diamond drill holes, totalling 17,857 metres.

Opportunity to unlock value

Gold Candle (now Cadillac Mines Corporation) acquired 100% of the mining rights from Kerr Mines Inc. (previously known as Armistice Resources), along with the surface rights from 12111394 Ontario Ltd.

Laying the foundation

Upon acquisition, Gold Candle began a historical data compilation campaign that resulted in a database comprising 6,543 drill holes (415,145 metres), 131 kilometres of underground infrastructure and stopes categorized by ore type.
Multiple drill campaigns focused on expanding gold mineralization adjacent to and beyond the historic Kerr-Addison underground mine successfully outlined a significant gold deposit while identifying additional exploration and growth opportunities across the broader property. Engineering, environmental, geological and geophysical programs also continued to support future development and the evaluation of additional exploration targets.

Refinement and growth

The Company launched a 30,000-metre drill program focused on expanding mineralization at depth and evaluating underground mining potential alongside the open-pit resources.
By the end of 2024, the Company had drilled more than 125,000 metres on the property.

Pivotal moment

An updated Mineral Resource Estimate outlined a multi-million-ounce open-pit and underground gold resource while the Company embarked on the largest exploration program in its history, targeting both open-pit and underground opportunities.

Moving to the next step

The Company is continuing to advance Kerr-Addison’s design through technical and economic studies, while also strengthening its regional position through acquisitions that are strategic and supportive of Kerr-Addison.
As part of our community engagement strategy, a Community Advisory Committee was established to support project development and strengthen our ongoing efforts to engage with community partners.
Gold Candle officially rebranded to Cadillac Mines Corporation, reflecting the Company’s growing position along the Cadillac-Larder Lake Break and long-term vision for growth across Ontario and Québec.

About

Project Management Team

History

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