Pathfinder Resources : Bloom Lake Project Sampling Results

Level 9 only182 St Georges Terrace

Perth, WA 6000

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Managing Director

Hugh Callaghan

useNon-Executive Chairman Sufian Ahmad

Non-Executive Director

Stephen Windle

Chief Financial Officer

Agha Pervez

personalCompany Secretary H rry Spindler

Enquiries regarding this announcement can be directed to:

Company Secretary

Ha y Spindler

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For

• February 2022

High Grade Sampling Results from

Bloom Lake Project

• High Grade copper and cobalt assays have been recorded from a grab sampling campaign at Pathfinder's 100% owned Bloom Lake Project in Gowganda, North-Eastern Ontario, Canada.
• 14 Samples have been collected from both outcropping veins and from loose material proximal to historical trenches, adits, and shafts.
• The better results included:
  o sample 860478 with 38.4% Cu, 0.447% Co, and 2,670g/t Ag o sample 860470 with 8.92% Cu, 0.47% Co, and 164g/t Ag o sample 860471 with 3.41% Cu, 3.15% Co and 2.84% Ni
  o sample 860482 with 3.06% Cu, 1.87% Co, 2.5% Ni and 15.1%
  Zn
• The sampling campaign has further confirmed the geochemical fingerprint of the veins at Bloom Lake, as high grade copper and cobalt with accessory zinc.
• Minimum expenditure requirements have been met by Pathfinder to maintain the Bloom Lake Project in good standing.

Pathfinder Resources Ltd (Pathfinder, PF1 or the Company) is pleased to announce the results of its 2021 surface sampling program completed at the Bloom Lake project, in Canada.

Results of the 2021 Bloom Lake Sampling Campaign

The 2021 sampling campaign at Bloom Lake tested the narrow outcropping vein system, which has previously had trenches and mini-pits excavated in previous exploration programmes. The location is remote and accessible on a seasonal basis.

All 14 Samples recorded significantly anomalous results which confirmed the veins as having a geochemical footprint of high copper and cobalt values with accessory zinc. Grab samples were selective in nature, and the reported mineralization and assay results may not be representative.

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2

Figure 1: Bloom Lake project map with sampling positions

Level 9, 182 St Georges Terrace, Perth WA 6000

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- END -

Au

ppb

18

25

733

9

8

<5

7

12

8

29

12

43

92

32

Bi

ppm

17

630

9,000

7

139

11

9

<2

<2

<2

5

59

74

39

Pb

ppm

17

20

84

5

9

36

71

14

6

32

133

52

20

374

Zn

ppm

39

16

15

18

19

108

47

58

30

2,260

452

143

77

15,100

Ag

ppm

2.8

164

66.7

1.6

27.8

2.5

2.2

<0.2

0.2

2,670

120

133

446

142

Co Cu Ni

ppm ppm ppm

391 4,440 37

4,700 89,200 878

31,500 34,100 2,840

258 1,920 46

340 21,000 108

1,490 212 278

97 138 16

20 142 43

6548 29

4,470 384,000 436

1,120 47,800 149

18,900 11,700 2,770

13,500 55,400 1,660

18,700 30,600 2,550

Figure 2: Bloom Lake 2021 Sample results

Analyte Symbol Unit Symbol

860469

860470

860471

860472

860473

860474

860475

860476

860477

860478

860479

860480

860481

860482

onlyuseA list of the samples noting the locations is attached as Appendix A to this announcement. All samples were submitted to Activation Laboratories Ltd in Timmins, Ontario. ActLabs is accredited to ISO/IEC 17025 ,CALA, CCIL by Standards Council of Canada.

personalGold (Au) results were determined by 30g fire assay, Actlabs method 1A2. A separate sample split was assayed by method 1E3, qua regia digest then multi-elementICP-OES for a full suite of trace elements. Silver (Ag), Cobalt (Co), Copper (Cu) and Zinc (Zn) results were additionally determined by method 8-AR which is also aqua regia ICP-OES but uses dilution appropriate to

determine higher grade materials.

All of the assays are partial because of the aqua regia digest; however, they are close to total for sulphide minerals and are appropriate in the context of exploration grab samples.

Bloom Lake Project Geology and History

The Bloom Lake Project is located peripheral to a cluster of former high- grade silver-cobalt mines at Gowganda, 85km northwest of the town of Cobalt, which operated from 1910 to 1989 and where historic production from this region in the period up to the end of 1969 is reported as having been 60.2 million ounces of silver and 1.3 million pounds of cobalt.

The mineralisation within the Cobalt-Gowganda mine district comprises calcite-quartz vein systems containing native silver and cobalt-nickel-iron minerals that infill vertical fractures within the Nipissing Diabase, a set of sub-horizontal intrusive sills of dolerite-gabbro that act as host rock. The three claim blocks target the Nipissing Diabase and documented mineral occurrences within it.

The properties include mineral showings, old mine shafts and adits, yet little if any modern exploration has taken place for silver-cobalt mineralisation. Within the Bloom Lake claim block, the MDI database refers to grab samples taken in 1998 that yielded 219 to 603 g/t silver, 0.3 to 0.9% cobalt and 11.0 to 14.7% copper.

ForThis announcement has been approved by the Board of Pathfinder Resources Ltd. or further information, please contact:

Hugh Callaghan | Managing Director

Phone: [phone]

Email:[e-mail]

www.pathfinderresources.com.au

3	Level 9, 182 St Georges Terrace, Perth WA 6000
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Competent Persons Statement

The information in this release that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves has been reviewed by Dr. Stephen Windle, a Competent Person who is a Fellow of the Australian Institute of Geoscientists. Dr. Windle has relied on information provided by Mr Joerg Kleinboeck, the owner and principal of JMK Exploration Consulting., who have been engaged by Pathfinder Resources Ltd as consultant geologists. Mr Kleinboeck has been engaged by Pathfinder (formerly Winmar Resources) since 2018, and acted as Competent Person for a previous Bloom Lake information release in August, 2018.

Dr. Windle is a director of Pathfinder Resources limited. Dr Windle has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Windle consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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Appendix A - Full list of Samples

only							Au		Ag		Co	Cu	Ni	Pb	Zn	Bi
Easting	Northing	Rock Type	Mineralization	Description	ppb		ppm		ppm	ppm	ppm	ppm	ppm	ppm
	524462	5289431	Nipissing Diabase	2-3% chalcopyrite, cobalt bloom, and malachite	sample taken from upper south wall of shaft		18		2.8	391	4440	37	17	39	17
	524566	5289423	Nipissing Diabase	2% bornite, chalcopyrite, malachite	sample taken from rock pile beside shaft		25		164	4700	89200	878	20	16	630
	524570	5289422	Nipissing Diabase	cobalt bloom along weathered surfaces	Sample taken from rock pile beside shaft		733		66.7	31500	34100	2840	84	15	9000
	524591	5289450	Nipissing Diabase	2-3% chalcopyrite, cobalt bloom, and malachite	sample taken from small pit within 260 deg orientated		9		1.6	258	1920	46	5	18	7
	524595	5289448	Nipissing Diabase	2-3% chalcopyrite, cobalt bloom, and malachite	sample taken from small pit within 260 deg orientated		8		27.8	340	21000	108	9	19	139
	524564	5289443	Nipissing Diabase	cobalt bloom along weathered surfaces	sample taken from small pit		< 5		2.5	1490	212	278	36	108	11
For personal use		524564	5289443	Nipissing Diabase	2-3% chalcopyrite	sample taken from outcrop		7		2.2	97	138	16	71	47	9
	524251	5288430	Nipissing Diabase	no visible mineralization	sample taken of calcite vein within a small pit		12		< 0.2	20	142	43	14	58	< 2
	524434	5288824	Nipissing Diabase	no visible mineralization	8cm wide calcite vein in deep 3mx3m pit, veins orientated		8		0.2	65	48	29	6	30	< 2
	524477	5289626	Nipissing Diabase	1% bornite and chalcopyrite	vertical calcite vein in trench orientated at 280 deg, vein is		29		2670	4470	384000	436	32	2260	< 2
	524476	5289625	Nipissing Diabase	1% bornite and chalcopyrite	sample taken along north-side of trench		12		120	1120	47800	149	133	452	5
	524477	5289628	Nipissing Diabase	1% chalcopyrite, cobalt bloom	sample taken along south-side of trench		43		133	18900	11700	2770	52	143	59
	524474	5289615	Nipissing Diabase	2-3% bornite, chalcopyrite, along with cobalt bloom	sample taken of exposed vein in trench		92		446	13500	55400	1660	20	77	74
	524480	5289627	Nipissing Diabase	2-3% bornite, chalcopyrite, along with cobalt bloom	sample taken from rock pile		32		142	18700	30600	2550	374	15100	39

5	Level 9, 182 St Georges Terrace, Perth WA 6000
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