REG - Ormonde Mining PLC - Investee Company Update: TRU Precious Metals

TRU Precious MetalsAnnouncement

05/03/2026 17:45

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RNS Number : 5630V  Ormonde Mining PLC  05 March 2026

5 March 2026

Ormonde Mining plc

("Ormonde" or the "Company")

 

Investee Company Update: TRU Precious Metals

 

TRU announces field work has identified a new mineralised trend and additional
gold targets at Golden Rose

 

Ormonde Mining plc (https://ormondemining.com/) (AQSE: ORM), the natural
resources company with investment exposure to outstanding gold and battery
metal exploration assets, notes the recent update by its 36.5%-owned investee
company TRU Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) ("TRU") on the
ongoing target generation field works at its Golden Rose Project ("Golden
Rose") strategically located along the gold deposit bearing Cape Ray -
Valentine Lake Shear Zones in Central Newfoundland, and neighbouring Equinox
Gold Corp.'s Valentine Mine.

 

The full announcement from TRU follows below.

 

Brian Timmons, Chair of Ormonde, commented:

 

"Flanked by Atlantic Canada's next major gold mine to the north and over
600,000 ounces of gold to the south, Ormonde has always believed Golden Rose
to be highly prospective. This conviction was reinforced when the
eight-billion-dollar company Eldorado Gold optioned into the project and
ramped up exploration. We are delighted with the progress of fieldwork which
is further elevating the prospectivity of this premier project."

 

 

FIELD WORK IDENTIFIES NEW MINERALIZED TREND AND ADDITIONAL GOLD TARGETS AT
GOLDEN ROSE

 

Toronto, Ontario - March 5, 2026 - TRU Precious Metals Corp. (TSXV:TRU,
FSE:706) ("TRU" or the "Company") is pleased to provide an update on the
ongoing target generation field works at its Golden Rose Project ("Golden
Rose") strategically located along the gold deposit bearing Cape Ray -
Valentine Lake Shear Zones in Central Newfoundland, and neighbouring Equinox
Gold Corp.'s Valentine Mine.

 

Subsequent to the completion of the 2025 drilling program at Golden Rose, the
results of which can be found in the Company's news release dated September
10, 2025,
(https://www.trupreciousmetals.com/news-page/tru-reports-on-results-from-2025-drilling-program-intersecting-gold-bearing-mineralization-in-every-hole)
the TRU exploration team was in the field advancing focused mapping and ground
truthing programs aimed at further refining the geological and structural
site-wide model and expanding the pipeline of quality drill targets both
within and beyond the initial area of drilling focus.

 

Highlights from the 2025 Field Work

 

·      Field work to follow up the mineralized sandstone unit discovered
during the 2025 drilling program (1) positions the sandstone unit within an
extensive and previously unrecognised mineralized trend extending for at least
3,000 metres ("m") along strike and some 600m wide;

 

·      The mineralized trend is supported by outcrop and float mapping
and sampling. Assay results of grab samples include 91.3g/t gold ("Au"),
36.1g/t Au and 3.3g/t Au in outcrop, and 72.7g/t Au and 40.6g/t Au in float. 4
assayed samples contained visible gold ("VG");

 

·      The mineralized trend aligns with the Northcott and Mark's Pond
zones 1.2 kilometres ("kms") to the northeast, and Rich House 4.5 kms further
to the northeast. Structural continuity over these distances is interpreted,
but remains to be demonstrated;

 

·      Previously recognised showings at Falls Zone and in the Jacob's
to Rose Gold(2) corridor, have been elevated to higher ranking targets
following field work and reinterpretation indicating these targets to be more
prospective than originally understood;

 

·      Field work also identified new targets in previously unexplored
areas including the southwest extensions of the Rogerson Lake Conglomerate
("RLC"), along a portion of the Valentine Lake Shear Zone ("VLSZ"), and either
side of the Wood Lake mineralization; and

 

·      Trenching and follow-up drilling programs are being planned for
the 2026 field season.

 

TRU CEO Steve Nicol commented: "TRU is diligently advancing with its stated
aim of efficiently discovering the full gold and copper potential at its
Golden Rose Project. In the 2025 mapping and ground truthing program, a
previously unknown mineralized trend of already impressive dimensions has been
delineated centered upon the mineralized sandstone unit discovered during the
2025 drill program (1), with final dimensions of the trend yet to be
determined. Trenching and subsequent drilling is now in planning for this
area. The 2025 field work also elevated the prospectivity of the previously
recognised Falls Zone and the Jacobs to Rose Gold corridor adding
significantly to the previously limited understanding of these prospective
targets. Furthermore, the 2025 field work identified other quality targets
across the project area warranting further examination as knowledge grows
regarding the controls on mineralization at Golden Rose. I want to personally
thank the TRU team for its tireless efforts during an arduous 3 month "on
foot" field work program achieving near total coverage over much of the large
project area resulting in an invaluable database of surface information. This
information has dramatically advanced the knowledge and understanding of the
distribution of mineralization across much of the project area which is
important in focussing and accelerating work streams into the future."

 

The field work commenced with a series of 20 mapping and sampling traverses on
foot spaced 1 to 2 kms apart and trending SE to NW (across strike) along a
30km section of the main corridor within Golden Rose prospective for orogenic
gold mineralization proximal to the VLSZ. During traversing, outcrops were
located, mapped and sampled building a large database of surface information
across this important corridor. Upon completion of the across strike
traversing, the team undertook along strike traversing in areas identified as
having elevated prospectivity. Each crew member completed over 400kms of
off-trail traversing on foot across the main project corridor, with detailed
data and mapping collected on some 400 outcrops.

 

The reported rock samples are selective grab samples (from outcrop and/or
float) and are not necessarily representative of mineralization on the
property. The presence of visible gold in certain samples is qualitative in
nature and does not indicate the grade distribution of mineralization. A total
of 292 rock samples were collected during the entire traversing program across
all areas. Table 1 lists the 16 samples collected within the newly identified
mineralised trend that returned > 1g/t Au.

 

Mineralized trend discovered during 2025 drilling

 

This detailed focussed mapping and sampling along the traverses has
significantly upgraded the prospectivity of the mineralized sandstone unit
within the RLC discovered in drillholes GR 25-03 and GR 25-04 during the 2025
drilling campaign (1) with mineralized quartz vein outcrop and quartz float
now defining a trend that is over 3kms along strike and up to 600m wide. The
mineralized trend aligns with the Northcott and Mark's Pond zones some 1.2 kms
further to the northeast. The outcrop and float defining this zone is
mineralized with pyrite and arsenopyrite, chalcopyrite, galena, and
tourmaline. VG was noted both in outcrop and in float. Assay results >1g/t
Au from grab samples taken of the outcrop and float are provided in Table 1
below:

Table 1: Assay results >1g/t Au from grab sampling within the new trend

The trend consists of strike parallel intermittent exposures of quartz vein
outcrops and alteration associated with substantial quantities of angular
quartz float with VG. The trend includes several outcrops of strongly sericite
altered and quartz veined conglomerates suggesting that further potentially
parallel mineralized zones are likely to be present. Veining ranges from <
1cm veinlets to > 1m in thickness, have a range of mineralization styles
including VG with no sulphides, VG associated with pyrite and arsenopyrite
mineralization, VG associated with sericite alteration within the wallrock of
the veins, and polymetallic (chalcopyrite, galena, pyrite, and arsenopyrite)
sulphide mineralization lacking VG but returning assay grades up to 36.1g/t
Au. Alteration of the host rock ranges from strongly sericitic to strongly
chloritic, with VG being observed in samples with both alteration styles. A
trenching program to delineate this exciting and expanding mineralized trend
is planned for 2026, with drilling to follow. A hypothesized additional
extension of the trend as far to the northeast as Rich House (an additional
4.5 kms) will be the subject of detailed field truthing during 2026. Figure 1
provides detail on this extensive mineralized trend.

Figure 1: New mineralized trend

 

Other priority targets

 

In addition to significantly increasing the footprint and elevating the
importance of the mineralized sandstone unit identified in the 2025 drilling
program, the detailed traversing program has also elevated the prospectivity
and importance of the previously recognised but little understood showings at
Rose Gold and Falls Zone.

 

At Rose Gold (900m west-northwest of the Northcott Zone - Figure 2), bedrock
sampling in 2025 confirmed the high-grade sampling of 2015 with the latest
samples returning 20.4g/t Au and 6.3g/t Au. Additionally, traversing and
prospecting in the surrounding area discovered two > 50cm quartz veins some
650m east-northeast of the Rose Gold showing which host similar pyrite and
chalcopyrite mineralization and have a similar east-west orientation as at
Rose Gold. This is a geologically complex area with multiple opportunities for
rheological contrast to be developed. Samples of the surrounding veins
returned slightly elevated Au values, the controls on the mineralization
remain unknown and a program of non-mechanised trenching is planned for 2026.
In a wider context, the 2025 detailed traversing program has increased
knowledge of the prospectivity of the corridor from Rose Gold at least as far
as Jacob's (2.0 kms to the southwest) through an area in which TRU geologists
are reinterpreting the historically mapped geology.

 

At the Falls Zone (Figure 2), traversing and outcrop mapping resulted in the
discovery of quartz veins up to 1m thick and intermittently exposed over 50m
along strike of the Falls Zone approximately 200m northeast of the original
showing with elevated gold values (131ppb) coincident with the contact between
sediments of the Storm Brook Formation and a rhyolite within the same
formation. In addition, abundant mineralized quartz float between these quartz
veins and the Falls Zone contains >30% pyrite or arsenopyrite. These float
rocks were >0.5m in diameter and only slightly rounded indicating they have
not been transported far. The source is yet to be identified. The sulphide
mineralized quartz boulders returned grades including 2.2g/t Au, 1.3g/t Au and
1.1g/t Au. As at Rose Gold, these results indicate the potential for a
significantly larger zone of mineralization at Falls Zone than has been
previously recognised. Mechanised trenching is planned for the area during
2026.

 

Figure 2: Priority targets

 

Other areas:

 

1.    Along the southeast side of the Victoria river valley, in an area
which has little or no systematic exploration, sulphide mineralized quartz
veins up to 0.3m thick were discovered along the contact of the Peter Strides
Granitoid ("PSG") suite and the Storm Brook formation along with very angular
quartz boulders >1.5m in size indicating much larger veins in the area.
This corresponds to the interpreted location of the VLSZ. Mineralized granitic
float in the vicinity returned high grade assay results including 11.35g/t Au
and 2.01g/t Au whilst the veins returned up to 0.3g/t Au. Further field work
is planned for 2026 to understand the controls and dimensions of this newly
identified showing named PSG Contact (Figure 2).

 

2.    The impressive grades and dimensions related to the newly identified
mineralized zone within the RLC centred on the 2025 drilling are focussing
renewed interest on the rest of the RLC which extends for some 11 kms in a
southwesterly direction parallel to the VLSZ within the Golden Rose property.
The southwest part of the RLC (RLC-SW - Figure 2) has received little previous
attention as much of the area is covered by bog and till. Programs are being
designed for an intensive surface field work program in 2026 aimed at
identifying and gathering all surface information possible to aid in
identifying areas of extension and potential repetition, of the newly
identified mineralized zone to the northeast within the RLC.

 

3.    At Wood Lake (Figure 2), a revised interpretation of controls on the
mineralization will be tested during 2026 in an effort to significantly extend
the limits of the current known mineralization.

 

In addition to the priority prospects, the detailed traversing program
highlighted a further 6 - 8 areas of significant interest to be further
investigated.

 

The objective of the 2026 field work in these areas will be to work up and
define drilling targets for subsequent field seasons.

 

(1)   For further information see the Company's news release dated Sept 10,
2025

(2)   Further information can be found in " NI 43-101 Technical Report on
the Golden Rose Project, Newfoundland-Labrador, Canada" dated Oct 11, 2023
(with an effective date of Oct 11, 2023), prepared by D. Roy Eccles (M.Sc., P.
Geol, P. Geo.) of Apex Geoscience Ltd and Stefan Kruse, (Ph D., P. Geo) of
Terrane Geoscience Inc, available under the Company's profile on SEDAR+ at
www.sedarplus.ca (http://www.sedarplus.ca) .

 

Quality Assurance - Quality Control ("QA/QC")

During all exploration sampling and analysis works on its Golden Rose project
TRU maintains a strict quality assurance program, implements a quality control
program, and has a sample security procedure in place. These are tailored as
necessary to be appropriate to the types of samples being collected.

 

Samples reported on in this News Release comprised grab samples from a mix of
outcrop or float taken by TRU geological field crews. These samples were each
packed in tie-sealed plastic bags, uniquely numbered at the site of sampling
and delivered to the TRU onsite camp by the TRU geological field crews.
Duplicate samples were also taken and bagged for storage onsite (reference
samples).

 

QA/QC samples, including blanks and certified standards were inserted into the
sample runs prior to samples being loaded into rice sacks, in accordance with
TRU Standard Operating Procedure for QAQC sample selection and insertion.
Insertion rates for blanks and certified standards were approximately 2.5%
(each) of all samples submitted for assay.

 

Bagged samples for analysis were packed into tie-locked rice sacks, and
transported by the TRU Project Geologist directly to the shipping agent in
Corner Brook, who shipped the samples directly to the ALS Laboratory in
Moncton, NB.

 

Chemical analysis of rock samples was carried out at ALS laboratories in
Moncton NB (17 Somers Dr, Moncton, NB E1H 2P3) a commercial geoscience
laboratory that is ISO/IEC 17025 accredited and completely independent of TRU.
Samples were analyzed using a 4-acid digestion with Inductively Coupled Plasma
Mass Spectrometry (ICP MS) finish (25g) for a full suite of elements plus fire
assay (30g) with Atomic Absorption Spectrometry (AAS) finish for gold values.
Samples returning assayed values in excess of 10g/t Au were automatically
re-assayed using fire assay with Gravimetric finish (30g).

 

Data Verification Statement

Prof. G. Earls, EurGeol PGeo, FSEG, an independent Qualified Person under
National Instrument 43-101 - Standards of Disclosure in Mineral Projects ("NI
43-101 Standards") has independently checked and verified the data disclosed
including sampling, analytical, and test data underlying the information or
opinions contained in this news release.

 

Data verification included:

·      Review of all Standard Operating Procedures

·      Batch checking of analytical data to ensure no input or
translation errors

·      Detailed review of all QA/QC results

 

No material flaws were detected during the data verification exercise.

 

Qualified Person Disclosure

Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person under
NI 43-101, has prepared or supervised the preparation of the scientific and
technical information contained in this news release and has approved its
disclosure.

 

About TRU Precious Metals Corp.

TRU (TSXV: TRU, FSE:706) is on a mission to build long-term shareholder value
through prudent natural resource property development. The company's flagship
project is the Golden Rose Project a regional-scale 297.50 km2 land package in
Central Western Newfoundland (includes a 33.25 km2 package of claims over
which TRU has a 51% interest) which straddles a 45 km strike length along the
gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between
Equinox Gold Corp's Valentine Project and AuMEGA Metals Ltd' Cape Ray Gold
Project. TRU is currently focused on efficiently discovering the full gold and
copper potential at Golden Rose, targeting continuity along this proven gold
bearing trend. The Golden Rose Project is currently subject to an earn-in
agreement (the "Earn-In Agreement") with TSX-listed Eldorado Gold Corporation
("Eldorado"), whereby Eldorado has the option to fund CAD15.25M in cash
payments and exploration expenditures over 5 years to earn an 80%-interest in
the Golden Rose project.  Please refer to the Company's July 30th, 2024 press
release for further details of the Earn-In Agreement.

 

TRU is approximately 36%-owned by European strategic investor Ormonde Mining
plc (AQSE: ORM).

 

For further information about TRU, please contact:

 

Steve Nicol

Chief Executive Officer

TRU Precious Metals Corp.

Phone: 1-855-760-2TRU (2878)

Email: ir@trupreciousmetals.com (mailto:ir@trupreciousmetals.com)

Acknowledgement

TRU would like to thank the Government of Newfoundland and Labrador for
financial support through the Junior Exploration Assistance Program and the
Federal Government for its critical mineral assistance funding for the
exploration activities at Golden Rose.

 

Forward Looking Information

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. Such statements
include, but are not limited to, statements regarding the interpretation of
drill results, potential strike and width continuity, planned exploration
programs and their timing, the significance of drilling results, the
assessment of results for future drill program design, the continuation of
mapping and ground truthing programs, the potential for down dip continuity of
mineralized zones, the expansion of drill target pipelines, and the Company's
exploration objectives and business plans. Forward-looking statements are
based on assumptions, estimates, opinions and analysis made by management in
light of its experience and perception of trends, current conditions and
expected developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances. These assumptions include, among
other things, continuity of geological structures and grade along strike and
at depth, the availability of exploration financing, timely receipt of
permits, access to equipment and personnel, the successful completion of
ongoing exploration programs, the ability to advance quality drill targets,
continued access to the Golden Rose Project site, and stable commodity prices.

 

Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance, achievements, or
developments to differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include, but are not
limited to: the speculative nature of mineral exploration and development;
uncertainty in the interpretation of drill results and geological data;
environmental, permitting and regulatory risks; operational risks inherent in
exploration activities; changes in commodity prices and market conditions;
competition for mineral properties and qualified personnel; weather and
seasonal access limitations; equipment availability and operational delays;
currency fluctuations; and other risks detailed from time to time in the
Company's filings with Canadian securities regulatory authorities.

 

Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur. Although the Company
believes that the assumptions underlying the forward-looking statements are
reasonable, undue reliance should not be placed on forward-looking statements
because the Company can give no assurance that they will prove to be correct.
TRU undertakes no obligation to update any forward-looking statements except
as required by applicable securities laws.

 

This press release is solely the responsibility of TRU, and Eldorado is not in
any way responsible or liable for the contents hereof.

 

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

 

 

Enquiries:

 

Ormonde Mining plc

Brian Timmons, Chairman / Brendan McMorrow, CEO

Tel: +353 1 8014184

 

Vigo Consulting (Investor Relations)

Ben Simons / Fiona Hetherington

Tel: 44 (0)20 7390 0230

 

AlbR Capital Limited (Aquis Corporate Adviser)

Tel: +44 (0)20 7469 0930

 

About Ormonde Mining

 

Ormonde is a natural resources company delivering exposure to outstanding gold
and battery metal exploration projects. Ormonde's portfolio comprises:

 

·    An 36.5% interest in TRU Precious Metals (TSXV: TRU), which is
exploring for gold and copper in the highly prospective Central Newfoundland
Gold Belt in Canada, funded by Eldorado Gold Corporation (TSE: ELD - US$4.2 Bn
market cap) which has optioned the project.

·    A 100% interest in two gold exploration licences in the Zamora
province in western Spain, for which the Company is advancing value enhancing
options

·    A 18.9% interest in Peak Nickel Limited, which is exploring for
battery metals at the Rodburn Project in Aberdeenshire with indications of a
significant deposit.

 

Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under
the symbol AQSE: ORM.

 

For more information, visit the Company's website at www.ormondemining.com
(https://ormondemining.com/) .

 

The Directors of the Company accept responsibility for the contents of this
announcement.

 

 

 

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