On May 22, 2025, Winshear announced that, subject to the approval of the TSX Venture Exchange, it entered into an agreement whereby the Company can earn a 100% interest in the 360km2 Thunder Bay Gold Project located immediately Northeast of Thunder Bay, ON, Canada.

Map 1 – showing the outline of the Thunder Bay Gold Project

Overview of the Thunder Bay Gold Project:

• Eastern extension of the Archaean age Shebandowan greenstone belt;
• Very little historic exploration conducted in the TBGP area;
• Potential for orogenic gold, volcanogenic massive sulphides, and nickel–copper–cobalt sulphide deposits;
• Evidence of geological structural setting similar to other gold-endowed Abitibi greenstone belts in Ontario (Map 2).
• Historic reports indicate the presence of high-grade gold mineralisation (>1 oz/T Au) at the Gold Hill and Eldorado prospects (described below).

Map 2 is a total field magnetic plot (OGS 1991 data) showing regional structural architecture including the Thunder Bay Fault, Kingfisher Fault and associated bridging structures. Magnetic low anomalies coincide with some of the regional structures, interpreted as possible magnetite destruction from extensive hydrothermal alteration and considered indicative of a large scale orogenic gold system.

Map 2 – showing the magnetic character and structural make-up of the Thunder Bay Gold Project

The Gold Hill Target

The Gold Hill Target is located at the western end of the project area.  A Noranda report by Thomson (1989) describes numerous high grade gold veins occurring at the historic Thunderhead, Lakehead and Gorham Gold Mines located immediately to the north of the Thunder Bay Gold Project. These include values of: 

• 21.6 g/T Au across 0.76m for a length of 59.5m 
• 24.5 g/T Au across 0.55m for a length of 76.3m
• 20.6 g/T Au across 0.6m for a length of 105m 
• 11.0 g/T Au across 1.1m for a length of 85.4m
• 40 ton bulk sample assayed 20.6 g/T Au (1980)

Thomson concludes: ‘A structural zone consisting of multiple shears with numerous gold bearing quartz veins trends through the Gorham properties… gold mineralization occurs along a strike length of 8 km within this structural zone which is at least 500m in width. Previous work has been focused only upon the limits of vein exposures originally uncovered in the 1930s and 40s and has not attempted detailed prospecting or stripping to locate economic widths along strike or to identify additional veins structures which might have economic potential.1

The Eldorado Target

The Eldorado Target is located at the eastern end of the project area. 

Ontario Geological Survey Report OFR5719 describes the Eldorado Target: ‘The highest values for gold were obtained from grab samples of sulfide vein material from the Nelson Road Quarry area. The high-grade material yielded up to 4 oz/t (137 g/T Au) (Bill Hayne, personal communication - assay by Noranda Exploration). Samples by the author yielded assays as high as 1.06 oz/t (36 g/t) gold. These sulfide veins contain pyrite, sphalerite, arsenopyrite and galena. 1

Numerous other gold and critical mineral occurrences are documented in the Eldorado Target area with values up to 15% Zinc and 3% Arsenic. 

2025 Work Program

The Company plans to commence regional geochemical prospecting including till sampling as soon as practicable to identify priority areas for follow up. Results will be presented when received.

Notes

1. link