Cartier Resources VP Lavalliere leaves company

Feb 5, 2025

2025-02-04 17:05 ET – News Release

Mr. Philippe Cloutier reports

CARTIER ANNOUNCES SENIOR LEADERSHIP CHANGES AS PART OF A NEW DEVELOPMENT STRATEGY

Gaetan Lavalliere no longer assumes the duties of vice-president of Cartier Resources Inc., effective today.

Philippe Cloutier, president and chief executive officer, stated: “On behalf of the company, I would like to sincerely thank Mr. Lavalliere for his professionalism and his many contributions he has made to Cartier over the years. Mr. Lavalliere led the company transition from grassroots exploration to advanced brownfields exploration and development of the Chimo mine project. He leaves us with a solid base to continue exploring and expanding the gold potential recently acquired along the Larder Lake-Cadillac fault zone. We wish Mr. Lavalliere continued success in his future endeavours.”

Cartier will proceed with a reorganization of the current workload and seek candidates to fill the vacant position and contribute to execute Cartier’s new development strategy.

2025 outlook

The company’s recent strategic planning session outlined an ambitious plan for continued exploration and development of its flagship Cadillac project, focused on increasing the gold resources and testing the significant discovery potential along the prolific Larder Lake-Cadillac fault zone.

Five key elements comprise this new approach:

Apply innovative AI (artificial intelligence) exploration tools for target generation to complement recent high-grade gold discoveries;
Review of the current mineral resource estimate and geological interpretation to develop a value-based targeting and development approach at the property scale;
Reinterpret and promote the project merits within realm of recent gold price evolution;
Design of multistage and aggressive exploration drill programs (100,000 metres);
Launch of key environmental baseline studies.

Additionally, and in line with the new strategy, the company is undertaking a process to evaluate its non-core gold assets (Wilson, Fenton and Benoist), all proximal to the Windfall deposit recently acquired by Goldfields. Exploration work is on hold at these properties, and Cartier is currently searching joint venture partners or buyers to maximize value creation.

The company would like to remind the investment community and shareholders of its 2024 achievements, namely:

Completed the first 28,084-metre exploration drilling program on the Cadillac property and significantly increased the upside of this land package (24,679 hectares), with a minimum of 10-kilometre high-grade gold potential along the major Larder Lake-Cadillac fault zone;
Discovered and/or enhanced new shallow-priority gold areas as Blue Grass (44.7 grams per tonne gold over 0.5 metre) and West Simon (7.5 g/t Au over 4.6 m): Dec. 17, 2024; VG9 (11.7 g/t Au over 4.0 m) and VG10 (173.6 g/t Au over 0.5 m): Dec. 3, 2024; Portal (7.2 g/t Au over 8.0 m): Oct. 30, 2024; North Contact (14.7 g/t Au over 4.3 m): Oct. 16, 2024; and East Bateman (60.1 g/t Au over 0.5 m): Sept. 19, 2024;
Strengthened the board of directors with two strategic and leadership appointments in the mining industry, including Manuel Peiffer as independent director and Alain Laplante as independent director, as well as chair of the audit committee;
Closed a hard-cash private placement of $487,432 and a flow-through private placement of $1-million.

Qualified person

The scientific and technical content of this press release has been reviewed and approved by Ronan Deroff, PGeo, MSc, senior geologist, project manager and geomatician, who is a qualified person as defined by National Instrument 43 -101 (Standards of Disclosure for Mineral Projects).

About Cartier Resources Inc.

Cartier was founded in 2006 and is an advanced gold project exploration company based in Val d’Or. The company’s projects are all located in Quebec, which has consistently ranked as one of the world’s best mining jurisdictions. Cartier is advancing the development of its flagship Cadillac project.

https://ressourcescartier.com/