Canadian North Resources Inc. reported the assay results for the surface sampling programs that indicate the new base metal (nickel, copper, and cobalt) and platinum-group metals (“PGM”, mainly palladium and platinum) prospective areas at its 100% owned Ferguson Lake property (“Ferguson Lake Project”) and gold-copper mineralization at its 100% owned Mac Island (Kaminak Lake) prospect and Quartzite Lake Project (“Quartzite Lake Project”). High-grade nickel-copper-PGM (up to 5.0% Cu, 0.99% Ni, 2.70g/t Pd, 0.62g/t Pt, 1.14g/t Au) found in the gossan samples from the outcrops in the 156.9 km2 prospecting area surrounding the 98.9 km2 mining leases of the Ferguson Lake Project. Five new nickel-copper-PGM mineralized prospective areas identified at surface in the exploration claims outside the established mineral resources along the 15-km known mineralized horizon at the Ferguson Lake Project.

High-grade gold (up to 52.3g/t) found over the area of 600m by 600m at the Mac Island and South Mac Island prospects in the Kaminak Lake area (29.2 km2). Copper & gold mineralization samples found on outcrops over an area of 8,500m by 4,000m area at the Quartzite Lake Project (50.3 km2). The surface sampling programs were completed with a total of 353 samples collected from the mineralized outcrops at the Ferguson Lake Project, and 194 samples from the outcrops at the Mac Island prospect and Quartzite Lake Project.

leases. The assay results of the surface rock samples indicate at least five new nickel-copper-PGM mineralized areas outside the known 15-km long mineralized horizon. All the newly found mineralized zones show anomalous values of nickel (up to 0.99%), copper (up to 5.0%), cobalt (up to 0.15%), palladium (up to 2.70g/t), platinum (up to 0.62g/t) and gold (up to 1.14g/t).

Geologically, the mineralized outcrops are the metamorphosed mafic and ultramafic rocks similar to the host rocks of the mineral resources established for the known 15km-long mineralized horizon. These encouraging results will be followed up with more detailed sampling, outcrop geological mapping, ground geophysical survey and drill tests in 2023.