Huge upside potential to build on existing resource, grades & scale
BAM Gold Project
Located on the Junior Lake Property, with 45+km potential strike length over a highly prospective Archean greenstone belt, in the flourishing gold mining jurisdiction of Ontario in Eastern Canada
History of BAM
The BAM Gold Deposit, part of the Junior Lake Property in Ontario, was discovered in 2015 during a targeted drilling programme.
Initial drilling intersected broad zones of near-surface gold mineralisation, marking the first recognition of the deposit. Following this discovery, successive drilling campaigns rapidly expanded the footprint of the mineralised system along strike and at depth.
Since then, BAM has developed into the Company’s flagship asset, with ongoing work focused on increasing the resource and advancing the project, doing technical studies to improve the confidence in the resource, and advancing it toward potential development.
2024
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June
Raised £4.28m to advance BAM; commenced geological work to increase understanding of BAM’s mineralisation ahead of drilling programme
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July
Alexander Shaw appointed as CEO of Landore
2025
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March
Results of 2024 Infill drill core sampling programme indicate gold upside at Junior Lake
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3,500m diamond drilling programme commences at BAM
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Acquisition of a number of mineral claims known as Willet Lake, east of BAM and Toronto Lake
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June
Spring 2025 drilling programme confirms additional mineralisation to east and west of existing resource and grade consistency at BAM
2026
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January
New MRE completed by SLR Consulting for BAM confirms 622,300 oz Au Indicated & 33,700 oz Inferred, increasing confidence in the mineralisation.
February 2026 NI143-101 compliant Mineral Resource Update (MRE)
At 0.3 g/t cut off
Indicated
Inferred
Indicated
Inferred
BAM Gold Mineralisation
The 2026 BAM Gold Project MRE was compiled by SLR Consulting Canada, in accordance with the 2019 Canadian Institute of Mining (CIM) Best Practices Guidelines.
It provides a robust understanding of Landore’s Junior Lake deposits, principally the BAM Gold Project, and significantly increases confidence in the asset’s ore bodies.
With approximately 656,000 ounces of Indicated (622.3koz at 1.1g/t) and Inferred (33.7koz at 0.96 g/t) gold at an overall cut-off grade of 0.21g/t within an optimised pit shell in one of the most mining friendly jurisdictions in the world, the 2026 MRE update has outlined a solid platform to develop BAM against a backdrop of an increasingly strong gold prices. SLR’s updated CIM-compliant MRE within an optimised pit shell (effective as of 16 January 2026) at a 0.21 g/t gold cut-off grade using a long-term gold price of US$3,000/oz is outlined below:
BAM Gold Deposit Mineral Resource Statement
| Class | Tonnes (Mt) | Au (g/t) | Au (koOz) |
|---|---|---|---|
| Indicated | 19.1 | 1.01 | 622.3 |
| Inferred | 1.1 | 0.96 | 33.7 |
The majority of BAM’s resource at the Junior Lake Property is in the Indicated category, which increases confidence in the mineralisation and further derisks our flagship asset.
The updated MRE also incorporated the Spring 2025 drilling campaign which comprised of 14 HQ diameter drill holes totalling of 3,549 metres, as well as the infill sampling programmes from summer and winter 2025.
Landore’s B-47 Nickel-Copper-Cobalt-PGE Deposit and VW Nickel-Copper-Cobalt Deposit located within 2 kilometres of BAM at Junior Lake, were also updated in the MRE report.
Click here for more information on Landore’s critical minerals assets.
B4-7 Nickel Copper Cobalt PGE Deposit Total Mineral Resources
| Total Mineral Res | Tonnes (‘000s) | Ni (%) | Cu (%) | Co (%) | Pt (g/t) | Pg (g/t) | Au (g/t) | NiEq (%) | Ni (kt) | Cu (kt) | Co (kt) | Pt (koz) | Pd (koz) | Au (koz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indicated | 3,428 | 0.60 | 0.41 | 0.05 | 0.13 | 0.53 | 0.03 | 1.25 | 20,707.3 | 14,062.4 | 1,799.8 | 14.3 | 58.2 | 3.3 |
| Inferred | 1,069 | 0.37 | 0.36 | 0.03 | 0.06 | 0.35 | 0.03 | 0.89 | 3,996.3 | 3,850.6 | 350.9 | 2.2 | 12.1 | 0.9 |
VW Nickel-Copper-Cobalt Deposit Total Mineral Resources
| Total Mineral Res | Tonnes (‘000s) | Ni (%) | Cu (%) | Co (%) | Pt (g/t) | Pd (g/t) | Au (g/t) | NiEq (%) | Ni (kt) | Cu (kt) | Co (kt) | Pt (koz) | Pd (koz) | Au (koz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indicated | 3,574 | 0.40 | 0.05 | 0.02 | 0.03 | 0.04 | 0.01 | 0.47 | 14,413.7 | 1,913.3 | 585.6 | 3.4 | 4.4 | 1.2 |
| Inferred | 538 | 0.43 | 0.05 | 0.02 | 0.02 | 0.03 | 0.01 | 0.50 | 2,300.2 | 284.1 | 93.0 | 0.4 | 0.6 | 0.2 |
BAM Gold Project, Ontario
BAM Exploration
Landore’s exploration team, under the leadership of CEO Alexander Shaw, has developed a data-focused strategy to advance the BAM project and other highly prospective targets on Junior Lake.
The team, along with external consultants, commenced technical studies in early 2025 to deepen its understanding of BAM’s geological model and to support a carefully targeted 3,500metre drilling program.
Following this work, Landore updated the BAM resource estimate (MRE), a key milestone that helps to derisk the flagship asset and confirm its strong potential. Improved economics, supported by the current gold price environment, significantly enhance the value proposition for Landore.
This update also highlights the substantial associated value within the project’s critical base and platinum group metal deposits at B47 and BNW, aligning closely with global demand for essential minerals.
The geological team is currently leveraging an extensive and systematicaly compiled dataset to refine the geological model and improve the understanding of where other targets and higher-grade mineralisation are concentrated.
These results will be followed up by infill core sampling and drilling as part of the planned expansion program.
The focus is also on strike extensions east of the existing BAM deposit, while continuing to build on the project’s established geological knowledge.
Technical work underway at BAM includes
Soil Sampling Reports
Expansion of Ounces and High Grade Potential
The BAM Gold Deposit has the potential to be developed initially as a low-cost, bulk-tonnage open-pit operation, providing an ideal, strong foundation for future growth.
Work completed to date has advanced the BAM Gold Project to an In-Situ CIM NI 43-101 compliant resource of approximately 656,000 ounces of gold, comprising:
Indicated Resources: 622.3 koz at 1.1 g/t
Inferred Resources: 33.7 koz at 0.96 g/t
Overall cut-off grade: 0.21 g/t
BAM is now established as Landore’s flagship asset. The deposit is well understood and compares favourably with other successful gold deposits in Ontario. The current resource has been optimised within a pit shell but has potential to step out and grow along strike and down dip with identified high-grade potential at depth. Combined with being located in one of the world’s most mining-friendly jurisdictions, BAM provides Landore with a strong platform for growth in a supportive gold price environment.
Landore has identified a NEW regional-scale orogenic gold system with significant exploration upside. There is strong potential to define additional gold mineralisation not only along strike and down-dip from the current BAM resource, but also across nearby licences held by the company, including Lamaune, Toronto Lake, and the Eastern Extension – now called Willet Lake
Ontario
The Ontario region of Canada is home to the country’s largest producing gold mine – Agnico Eagle’s Detour Lake, along with some of Canada’s top producing gold mines, both underground and open pits.
One of the World’s top mining jurisdictions
| 1 | Red Lake Gold |
| 2 | Musselwhite Gold |
| 3 | Rainy River Gold |
| 4 | Hemlo Gold |
| 5 | Detour Lake Gold |
| 6 | Porcupine Gold |
| 7 | Macassa Gold |
| 8 | Young-Davidson Gold |
| 9 | Greenstone Gold |
Top gold-producing mines in Ontario:
| Mine | Prod Oz/pa | Ownership | Notes | |
|---|---|---|---|---|
| 1 | Detour Lake Gold | 678k oz | Agnico Eagle | O/P |
| 2 | Greenstone Gold | 390k oz – Au | Equinox Gold | OG |
| 3 | Macassa Gold | 228k oz | Agnico Eagle | U/G |
| 4 | Porcupine Gold | 223k oz – Au | Newmont | U/G |
| 5 | Young-Davidson Gold | 180k oz – Au | Alamos | UG/OG |
| 6 | Musselwhite Gold | 173k oz | Newmont | UG |
| 7 | Hemlo Gold | 141k oz – Au | Barrick | UG |
| 8 | Red Lake Gold | 112k oz | Evolution Mining | UG |
| 9 | Rainy River Gold | 20k oz – Au/Cu/Ag | New Gold | UG/OG |
Proven gold jurisdiction of Ontario
BAM, our flagship gold project is located in a proven and supportive gold mining jurisdiction of Ontario, with benefits including a stable government and economy, a skilled workforce and a supportive mining code.
The Project won 2016 Discovery of the Year Award from the North-West Ontario Prospectors Association.
Awarded 2025 OJEP Grant $215k – for continued exploration and development and First Nations employment.
BAM Gold Deposit was discovered in 2015 by Landore Canada’s previous exploration team, located around 2 kilometres to the east of our B4-7 deposit and 1 km north of the VW deposit, within our Junior Lake Property.
Geology
The BAM Gold Deposit is interpreted as an Archean-aged orogenic gold deposit.
Findings from drilling to-date on the BAM Gold deposit revealed a lithological sequence consisting of leucogabbro and gabbro of the Grassy Pond Sill to the south, metasedimentary rocks of the BAM Sequence in the central portion, to mafic volcanics to the north.
All lithological units have been subjected to variable shearing and deformation, markedly the metasedimentary unit.
The deposit consists of gold mineralisation that is hosted by sheared and altered rocks of the Grassy Pond Sill and the BAM Sequence.
The gold mineralisation is commonly observed in drill core to exist as visible gold that is hosted by very thin, foliation-parallel quartz-rich veinlets, hosted by highly fissile ultramafic sediments of the BAM Sequence, or by foliated rocks of the Grassy Pond Sill.
The BAM Gold Project is envisaged as a low cost, bulk tonnage, open pit operation as a ‘string of pearls’ type mine with a series of small pits.