Why Miata Metals Thinks Jons Trend and Big Berg Are One System

0:24Dr. Jaap Verbaas Miata Metals is exploring the South American side. The company is focused on Sella Creek and Nassau projects in Suriname. Highlights include 23.75 meters at 5.73 grams per tonne gold at Johnstrand and 96 meters at 1.41 grams at Big Berg. The company also raised$25.2 million, including 19.9 % stake by La Mancha. With me is CEO, Dr. Yop Verbas. Now, Jaap, in December, your company announced a 25 ,000-meter drill program, half for denilation at Johnstrand and half for discovery drilling. Let's start with that discovery. You named six targets going into the year. Which targets have delivered and which ones have not?

1:13We so far have what we thought was a new discovery at Big Bird in April, 96 meters, I believe, at 1.4 grams per ton. It's actually really interesting because this zone is now growing into our original discovery from 2025, turning that broader corridor into a 1.4 kilometer strike length zone of finalization. We are just waiting for some drill holes right in the middle of that, but geologically we believe that the two are very likely to be connected. and in July we added a discovery at the Puma target several kilometers away from this corridor with 17 meters at three just over three grams per tonne so we're doing quite well on the discovery front if I say myself we hit a new zone you know roughly every 7 ,000 meters or so which is exactly what we wanted when we planned our 25 ,000 meters earlier this year.

2:22Which results are pending? Like how much right now of the 25 ,000 meter program have you right now? You believe it was about half when you started. So what so far have you given towards the expiration? It's been roughly 50-50. Yeah, that's right. So half of it goes into delineating discoveries, figuring out their size. And it remains that way. We haven't closed off our existing discoveries along Strike or at Depth. So they're really growing at a rapid clip, which is exciting to see. And the other half is going into new targets. So the process for that, we have two rigs. They're running continuously.

3:10we can explore at Sella Creek year-round. We have one rig that does more of that delineation drilling, as you call it, figuring out the size of the targets that we already have discoveries on, and another rig that goes from target to target and does short fences that we then wait for assays on just to see if we should come back for another fence, maybe in a slightly different direction or if we need to add more trenching to that or other surface work before we come back with the drill bit. So that's the discovery process, if you will. What's it been like right now for the turnaround? It's good.

3:55We actually, we do have a fair bit pending at this point. So there are drill holes pending from Johnstrand, from Bigberg, from the missing link in between, if you will, which of course is going to be exciting. We've also done some drilling both to the north and south of this main discovery corridor. I don't know the exact number, but I think we certainly have several thousand meters that are coming in from the lab quite soon. So I do expect fairly continuous news flow over the next few months here. Let's turn to that delineation. John's trend, of course, was the other half of the drilling. The goals were to confirm a broad, shallow, dipping, structural controlled gold system.

4:43In your deck, you have the size at about 750 by 300 meters with a potential strike length of one kilometer. What has this year's drilling added and where is it still open? I think the main thing of this year is that we have the Bigberg Discovery several hundred meters away from John's trend. and that they appear to be connected. And so we started with that John's Trend discovery last year in September 2025. It was our first discovery. And I've been drilling that since. It fairly quickly grew to that 750 meters by 300 meters. But I think the most important thing that investors should know is that if this does continue into Bigberg and that turns into one big system, we're looking at 1.4 kilometers in strike length between 1.3 and 1.4, I believe, in a system that's still open along strike and open to depth.

5:45So really a substantial zone of mineralization that we are quite excited about. Are you drilling it out right now or is that results that are still pending? Yeah, there are results of that zone still pending and we have one drill active there right now. The program that you kicked off was designed to move Miata from discovery to scale. You said a resource might make sense once John's trend is closed off unless Puma keeps growing. When might there be time for a maiden resource? Yeah, it's a really good question.

6:23We've got this one little problem and that's that the zones just keep growing. So I can't promise at what date that is. Of course, we're really happy to see things growing the way they are. I don't want to move to a resource until we've truly closed off a single zone that ideally is an open, pitable resource. And we do think that the Johns Big Bird Corridor will grow to that. What is access to the site like right now? Uh, how do you move people in and out for a fuel, uh, and also maybe talk about the wet season up there? Sure. Yeah. So, um, I'll go, uh, in reverse order there, the wet season doesn't really bother us too much.

7:11Um, we can work year round. So we do, uh, we drill year round, we pull, you know, a couple more ATVs out of the mud every month, uh, in the wet season and in the dry season, but, uh, um, it's, it's a fairly a good setup in that the rigs turn on in early january and they don't turn off until the end of december um we bring in fuel by river um so it gets struck to albina and then goes all the way along river to our river landing uh people we bring in through a fixed ring strip and then they do the last stretch by boat along the river as well. And we are currently working towards an airstrip on site so that we can work a little more efficiently and get rid of that last leg by boat for our personnel.

8:03I believe that you did mention artisanal miners in the area. What is it like working alongside them? It's certainly interesting. I'd say that in certain ways there are mutual benefits in that of course the miners find new areas and have been willing to share their knowledge of these areas so it's an odd symbiosis if you will right now where I think our presence benefits them in that there's a little bit more road maintenance and whatnot on site and they're presence benefits us in that we can efficiently explore where they are mining. So it has been good and it's very interesting of course from working in a project in Canada which you could say is truly grassroots.

9:01I think the really exciting part of seeing the artisanal mining activity on CELA, Not that there are many miners, but there's a history of about 100 years of artisanal mining. And so when I look at the footprint, the small-scale mining footprint there, and what that means for the kind of gold system that we may have at depth, it's very hard to look at this and say, well, I don't think there is too much gold there. You can simply go into your Google flight map or your flight map the next time you're on an airplane and find Sella Creek just by virtue of that footprint. So when we look at the really big mines in Suriname, such as Rosebell, if you dial back the clock 20 years, you'll be looking at a similar kind of footprint.

9:59So I'm very encouraged by that. And we have a good working relationship with the artisanal miners. So I think we will be able to ultimately transition this project from the small scale mining activity that is there now to a larger scale mine. If all the exploration remains as successful as it has been. Talk about a little bit more about the location in terms of road and electricity and access. And I just ask along the lines of like, is there something that you have in terms of a particular size or particular scale that you would look for in terms of kind of making this, you know, making this a project that would turn heads or that would kind of, how would you say, balanced against its accessibility?

10:48Yeah, for sure. So we are a little further into the jungle than some of the projects that are currently producing. And that, of course, needs to be balanced by a bigger resource down the line. There are roads onto the project. They are jungle roads right now, but they could be upgraded. So I don't think road access will ultimately be an issue. I suspect that for power, they would end up looking at a combined solar plant plus a generator, whereby 12 to 14 hours per day is supplied, but solar and the rest is generator, unless there is a little more infrastructure built in Suriname while we are doing our exploration work.

11:44And we see that kind of system successfully built in, for example, mines in West Africa. we have an internal benchmark of 3 million ounces in our heads that would probably make a mine with good metrics I don't think that's the limit here I think there is the potential to find more just given the small scale footprint but we believe 3 million ounces is a good number to aim for right now uh you sorry uh sorry i interrupted you no go ahead uh just turning to financing so you did have the 23 million uh that you announced uh how far does that take you we are fully financed until the end of next year um so we can uh we can finish our program this year well we might end up doing a little more than the 25 000 readers that we guided uh and then we will very likely bring in a third rig in January and drill 40 ,000 meters next year.

12:56So, you know, at the very least, you'll be seeing 20 ,000 to 30 ,000 meters of drill results come in before we would think of going back to market. So that's a lot of potential catalysts between now and then. Lastly, talking about catalysts, what do you expect to be the news flow for the next six months? Good question. I mean, I think it's going to be mostly the drilling, of course. I expect that there'll be drilling results on average, maybe every four to six weeks or so, perhaps sometimes faster. We just announced several things as well. The financing had a strategic investment incorporated into that.

13:49It was La Mancha, a very savvy group. So that was a big catalyst of August. We've also had our metallurgical work. We can recover almost 95 % through stock standard conventional processing methods. Really positive for us as well. and we're currently starting geophysics and environmental baseline work alongside all that drilling so call it 80 drill results and 20 corporate updates and updates on things like geophysics etc you got a pair of us thanks to speak with mining stock daily my pleasure

14:32Dr. Jaap Verbaas: the information presented should not be considered investment advice mining stock Daily Yance affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.