TORONTO, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSXV: IVS) (“Inventus” or the “Company”) is pleased to announce that Phase 3 drilling is underway at its 100%-owned Pardo “River of Gold” Project near Sudbury, Ontario. The approximately 6,000-metre, 155-hole program aims to test the extension of Pardo’s multiple gold-bearing layers and expand the area tested by drilling from 1.2 km² to 3.55 km². The program begins as Inventus advances its maiden mineral resource estimate, targeted for mid-November 2026, providing an initial resource foundation to support its Direct Ship Ore (“DSO”) plan while Phase 3 drilling tests the broader scale of the gold system.
HIGHLIGHTS
- Phase 3 drilling commenced on October 14, 2026, with 155 drill holes planned for approximately 6,000 metres of drilling.
- The program aims to expand the area tested by drilling by approximately 196%, from 1.2 km² to 3.55 km².
- Step-out drilling will test the continuation of multiple gold-bearing conglomerate layers, including the sulphide-rich Matinenda Conglomerate (MaC).
- Final Phase 2 drill assays are being received, with the maiden mineral resource estimate targeted for mid-November 2026.
PHASE 3 DRILL PROGRAM
The Phase 3 drill program is designed to significantly expand the area tested by drilling at Pardo (Figure 1). Previous Phase 1 & 2 drilling has intersected gold-bearing conglomerate throughout the existing 1.2 km² area. Phase 3 will test an additional 2.35 km² of favourable geology, testing extensions of the Main Layer and other prospective gold-bearing layers.
MATINENDA CONGLOMERATE EXPLORATION
Phase 3 will also target an area of shallow sulphide-rich gold-bearing Matinenda Conglomerate (MaC) in the western part of the project (Figure 1). Historical drilling in 2009 intersected 7.13 metres grading 0.51 g/t gold, including 2.13 metres grading 1.21 g/t gold, beginning 11 metres below surface in drill hole PD-09-05.
Recent geological analysis has identified a strong positive correlation between visually estimated sulphide content and gold grade within the Matinenda Conglomerate. Inventus will be evaluating whether the sulphide-rich material can be upgraded through ore sorting to produce a higher-grade gold-sulphide concentrate suitable for direct shipping to an existing processing facility.
The Company is also investigating the potential value of a sulphide-gold concentrate for regional smelters. If successful, this opportunity could provide an additional development pathway at Pardo, complementing the Company's advancing Direct Ship Ore (“DSO”) strategy for the Main Layer. Further testing and commercial evaluation are required to establish feasibility.
MAIDEN MINERAL RESOURCE ESTIMATE
Inventus is receiving the final Phase 2 drill assay results, which will be incorporated into its maiden mineral resource estimate, targeted for completion in mid-November 2026. This initial estimate will cover only the previously drilled area and is intended to provide a resource foundation for advancing the Company's direct ship ore (DSO) plan. Meanwhile, Phase 3 drilling will focus on expanding the known extent of gold mineralization, with the goal of supporting a potentially larger mineral resource estimate in the future.
Wesley Whymark, CEO & Director, comments: “Phase 3 is an important step toward understanding the full scale of the Pardo gold system. We have encountered gold-bearing conglomerate throughout the area drilled to date, and this program will test a significantly larger area across multiple layers. At the same time, the Matinenda presents an exciting opportunity to potentially develop a second DSO product alongside our more advanced Main Layer. With our maiden resource estimate targeted for mid-November, we are advancing both the exploration potential and development opportunities at Pardo.”
NEXT STEPS
- Report the remaining Phase 2 drilling assays.
- Complete the maiden resource estimate, targeted for mid-November 2026.
- Advance Phase 3 drilling and report results as available.
- Define the next stage of Matinenda metallurgical and ore-sorting testwork.
- Advance plans to resume bulk sampling, with approximately 10,000 tonnes stockpiled and an additional 20,000 tonnes permitted for extraction.
- Continue working toward regulatory approval for tailings placement and evaluating additional long term processing opportunities.
- Updates on the direct ship ore (“DSO”) advancements into 2027.
For further information visit www.inventusmining.com, or contact:
Wesley Whymark
CEO & Director
Inventus Mining Corp.
E-mail: wesley@inventusmining.com
Phone: 705-822-3005
Social Media Accounts
https://x.com/InventusMining
http://ca.linkedin.com/company/inventus-mining
https://www.youtube.com/@inventusmining
https://www.facebook.com/people/Inventus-Mining/61587627317147/
Figure 1. Pardo Phase 3 drill plan showing the previously drilled area of approximately 1.2 km² (blue) and an additional 2.35 km² of planned exploration drilling (purple).
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. We have a 100% interest in our principal assets, the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project, located northeast of Sudbury. The Pardo Gold Project is the first important paleoplacer gold discovery in North America. Inventus has approximately 221 million common shares outstanding.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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