Bousquet Gold

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Bousquet Gold

Project Snapshot

Location

Cadillac-Larder Lake Fault Zone, Rouyn-Noranda, Québec

Ownership

20% Net Carried

Optionnee

Olympio Metals (ASX: OLY)

Overview

The Bousquet project is composed of 71 claims covering 2,393 hectares and is located along the historical Cadillac-Larder Lake Fault Zone, a corridor within the Abitibi Greenstone Belt known for hosting numerous gold deposits, approximately 30 km west of Rouyn-Noranda, Québec.

On March 19, 2025, Bullion entered into an option agreement allowing Olympio Metals (ASX:OLY) to earn up to 80% interest by funding exploration and making cash and share payments.

Option Agreement Details: To obtain up to an 80% interest in the Bousquet project, OLY will:

Invest $2 million in exploration work.
Pay a total of $850,000 in cash and $400,000 in OLY shares.
Manage the exploration work.
Ultimately, Bullion will retain a 20% net carried undivided interest.

Prolific Gold Mining Camp

There are several gold mines found along or adjacent to the Cadillac-Larder Lake Break that cuts across the Bousquet Lake Property. Between 1926 and 2020, in excess of twenty (20) mines have produced over 25 million ounces of gold along the Cadillac Break within the Bousquet-Cadillac district. The Cadillac mining camp is characterized by three types of mineralization related to distinct gold-bearing geological settings: gold-bearing massive sulphide lenses (Bousquet 2 and La Ronde mines), gold-rich polymetallic veins (Doyon and Mouska mines) and auriferous veins associated with regional E-W trending faults (Lapa deposit).

Over 100M OZ. Au produced since the last 100 years on the Cadillac-Larder Lake Fault

Property Surrounded by Industry Majors

Exploration Results
2025 Summer Drilling Campaign

Highlights:

Assay results from the first two drillholes at the Paquin Prospect within the Bousquet Project have confirmed multiple high-grade gold intercepts:

5.4m @ 7.6 g/t Au, including 2.9m @ 10.27 g/t Au (BO-25-27)
7.9m @ 6.2 g/t Au, including 1.3m @ 17.0 g/t Au (BO-25-28)
The new intercepts are located approximately 60 metres along strike from a historical high-grade intercept of 9m @ 16.96 g/t Au¹
The mineralized trend at the Paquin Prospect now extends over 300 metres and remains open both to the east and west
To date, 13 holes have been completed in the current diamond drilling program; additional assay results are expected in the coming weeks
The Bousquet Project is located in Quebec, Canada, along the prolific Cadillac Break, a regional structure associated with over 110 million ounces of gold
The project is situated within 15 km of major operating gold mines including Agnico Eagle’s LaRonde (15.8 Moz Au³) and IAMGOLD’s Westwood (2.4 Moz Au)

Table 1 Downhole drill intervals from recent Paquin drilling at 1.0g/t Au cut-off

Hole ID	From	To	Interval	Au (g/t)
BO-25-27	184.00	185.00	1.00	4.97
	185.00	186.00	1.00	6.11
	186.5	187.00	0.50	2.02
	187.00	187.50	0.50	6.02
	187.50	187.85	0.35	42.30
	187.85	188.40	0.55	9.31
	188.40	189.40	1.00	5.84
aggregated	184.00	189.40	5.40	7.61
including	186.50	189.40	2.90	10.27

BO-25-28	101.50	102.30	0.80	3.29
	105.60	106.50	0.90	4.10
	125.40	126.60	1.20	3.18
	130.50	132.00	1.50	1.12
	138.00	139.00	1.00	8.61
	141.00	142.20	1.20	3.11
	142.20	143.50	1.30	17.00
	143.50	144.40	0.90	3.47
	144.40	145.90	1.50	7.46
aggregated	138.00	145.90	7.90	6.20
including	141.00	145.90	4.90	8.19
* Not previously reported	196.30	197.80	1.50	1.30
* Not previously reported	235.50	237.00	1.50	54.20

Amadee Prospect Results (August 2025)

Assay results received for eight holes drilled at the Amadee Prospect within the Bousquet Project have revealed multiple near-surface intercepts of gold mineralisation, including:
- 4.50m @ 3.29 g/t Au, including 0.50m @ 24.5 g/t Au (BO-25-38)
- 6.85m @ 1.11 g/t Au (BO-25-37)
- 5.80m @ 1.06 g/t Au (BO-25-34)
- 10.7m @ 0.69 g/t Au (BO-25-35)
These results extend at depth the broad zone of gold mineralisation intersected in shallow historical drilling at Amadee
Mineralisation is near-surface and potentially suited to open-pit development
Historical Very Low Frequency Electro-Magnetic (VLF EM) survey data suggests structural continuity between the Paquin and Amadee Prospects, as well as delineating new structural gold targets adjacent to Paquin.

Table 1 : Significant gold intersections from recent drilling at the Amadee Prospect at the Bousquet Project

Hole ID	From (m)	Interval (m)	Grade (g/t Au)
BO-25-31	36.00	6.30	0.95
BO-25-31	49.50	2.10	1.40
BO-25-32	49.00	1.00	2.32
BO-25-33	49.30	4.55	1.71
BO-25-33	60.00	1.30	1.14
BO-25-34	31.50	1.50	4.70
BO-25-34	39.00	5.80	1.06
BO-25-34	49.70	1.30	1.18
BO-25-34	60.00	4.30	0.98
BO-25-35	36.00	1.00	0.51
BO-25-35	57.00	1.00	0.75
BO-25-35	62.20	2.10	1.14
BO-25-35	67.80	10.70	0.69
BO-25-35	82.85	1.95	2.05
BO-25-36	31.55	1.45	1.57
BO-25-36	47.30	1.10	0.89
BO-25-37	80.15	2.25	1.29
BO-25-37	88.00	2.35	2.02
BO-25-37	113.15	6.85	1.11
BO-25-38	5.65	4.50	3.29
including	6.65	0.5	24.5
BO-25-38	27.40	1.15	0.54

The gold mineralised zone dips consistently to the north and is typically associated with stockwork veining of smoky quartz-carbonate and sulphides. Collar locations of the holes to-date are detailed in Table 2. Further drilling is planned along strike to the east and west to extend the mineralised zone at Amadee (Figure 1), and to test if the mineralisation zones connect between Paquin and Amadee.

The Company reviewed historical VLF EM data which further supports the potential structural continuity between the Paquin and Amadee prospects (Figure 3). VLF is a passive EM surveying technique that is well suited to detecting linear conductors. A ground-based VLF survey was conducted over the Bousquet Project in 1986 (Figure 3) illustrates that VLF detects established structures such as the North Bousquet Fault very effectively.

The structures are inferred to host disseminated sulphides and/or graphitic schists which produce an EM response. The VLF data reveals an extensive, continuous linear feature that is largely coincident with the Paquin and Amadee mineralisation defined to date. The VLF anomaly strongly supports continuity of the structure between Paquin and Amadee, and also suggests that the structure extends significantly further to the west (Figure 3). Further, a subsidiary structure is evident to the immediate south of Paquin. This target is currently being drilled.

Olympio looks forward to keeping the market updated on our continuing drill campaign at the Bousquet Project.

Decoeur Prospect Results (August 2025)

Highlights

Assay results received for the first two holes drilled at the Decoeur Prospect within the Bousquet Project have extended the mineralization at depth and along strike, including:
- 14.50m @ 1.96 g/t Au from 355.50m (BO-25-40)
- 3.75m @ 2.24 g/t Au from 13.25m (BO-25-39)
Hole BO-25-40 targeted previously unrecognized north-trending structural zones, and has returned the best intercept at Decoeur since the prospect was discovered 80 years ago
North-trending mineralized structures are poorly defined by historical drilling and are a priority target for future drilling at Decoeur
Hole BO-25-39 has confirmed near-surface gold mineralization associated with the North Bousquet Fault and remains untested to the east
To-date ALL 12 drillholes completed and assayed across three prospects at Bousquet have successfully intersected high-grade gold mineralization
Drilling at Bousquet is ongoing with assay results to continue over the next two months
The Bousquet Project is located on the Cadillac Break in Quebec, Canada, a regional structure associated with world-class gold mines
Situated within 15km of multi-million ounce working gold mines

Table 1: Significant gold intersections from recent drilling at Decoeur Prospect (≥ 0.5g/t Au cut-off, 1m min. width , 2m max. internal dilution (downhole)

Hole ID	Sig Int From	Sig Int Width¹	Au (g/t)	Sig Int Text
BO-25-39	13.25	3.75	2.24	3.75m @ 2.24 g/t Au from 13.25m
BO-25-40	338.00	2.15	0.84	2.15m @ 0.84 g/t Au from 338.00m
BO-25-40	355.50	14.50	1.96	14.50m @ 1.96 g/t Au from 355.50m
BO-25-40	373.80	2.00	1.39	2.00m @ 1.39 g/t Au from 373.80m

¹Widths are along the hole. True widths are not known at this time, but it is believed to be at least 80% of the width along the hole

Paquin Prospect (September 2025)

Assays received for a further 4 holes at the Paquin Prospect included high-grade gold intersections such as:

4.9m @ 2.16 g/t Au (BO-25-41)
- 2.6m @ 3.13 g/t Au (BO-25-43)
- 1.0m @ 6.33 g/t Au (BO-25-44)
These continue to build on the previously reported results from holes BO-25-27 and BO-25-28:
- 5.4m @ 7.60 g/t Au, including
  2.9m @ 10.27 g/t Au (BO-25-27)
- 7.9m @ 6.20 g/t Au, and
  1.5m @ 54.20 g/t Au (BO-25-28)

The Paquin Prospect is part of the Bousquet Project located on the Cadillac Break in Quebec, Canada, a regional structure associated with world-class gold mineralization.

Table 1: Downhole significant gold intersections from recent Paquin drilling at 0.5 g/t Au cut-off

*Hole ID*	*From*	To	*Interval*	*Au (g/t)*
BO-25-41	67	68.2	1.20	0.58
*BO-25-41*	*182.3*	*187.2*	*4.90*	*2.16*
BO-25-41	191.7	192.4	0.70	3.00
BO-25-41	204	205.3	1.30	2.25
BO-25-42	87	88	1.00	0.57
BO-25-42	176	176.5	0.50	0.55
BO-25-42	216.5	218	1.50	0.68
*BO-25-43*	*190*	*192.6*	*2.60*	*3.13*
BO-25-43	195	196.5	1.50	0.60
BO-25-43	207	208	1.00	0.65
BO-25-43	210	211	1.00	4.43
BO-25-44	99.6	101	1.40	1.42
*BO-25-44*	*219*	*220*	*1.00*	*6.33*
BO-25-44	251.1	252	0.90	2.04

Figure 1: Plan map showing the Paquin Prospect drilling with recent and selected historically significant intersections

Figure 2: Drilling cross-section A – A’ as shown in Figure 1, 80m section window

Results from holes BO-25-41, BO-25-42, BO-25-43 and BO-25-44 have been received, with significant intercepts such as 4.9m @ 2.16 g/t Au from 182m (BO-25-41), 2.6m @ 3.13 g/t Au from 190m

(BO-25-43) and 1.0m @ 6.33 g/t Au from 219m (BO-25-44) (Table 1, Figure 1). These drillholes provide critical structural data on mineralized veins which demonstrate significant down dip potential over 200m from BO-25-41 to BO-25-43, and the potential for further gold mineralization between the Paquin and Paquin Deeps targets (Figure 3).

Figure 3: Drilling cross-section A – A’ 1:3000 scale 200m section window

The Paquin prospect now extends over 360m along strike and is open along strike both to the west towards the Amadee prospect and to the east and down dip towards Paquin Deeps. Previously announced shallow gold mineralization at the Amadee prospect (see announcement 12th August 2025) has indicated a 1.2km strike extent of Paquin and Amadee combined (Figure 1).

Table 2: Drilling collar locations, Bousquet Project. Note that hole BO-23-30 was drilled in 2023

*Hole*	*Prospect*	*Azimuth*	*Dip*	*Length*	*Easting*	*Northing*	*Elevation*
BO-25-27	Paquin	188	-55	336	676528	5343882	324
BO-25-28	Paquin	205	-45	252	676568	5343839	322
BO-25-29	Paquin	195	-55	300	676496	5343909	324
BO-25-31	Amadee	220	-45	87	676115	5343741	336
BO-25-32	Amadee	230	-45	102	676092	5343758	334
BO-25-33	Amadee	210	-45	102	676092	5343758	334
BO-25-34	Amadee	210	-45	102	676038	5343774	336
BO-25-35	Amadee	230	-45	102	676038	5343774	336
BO-25-36	Amadee	220	-45	90	676157	5343734	334
BO-25-37	Amadee	220	-45	222	676152	5343793	340
BO-25-38	Amadee	230	-45	102	676202	5343726	324
BO-25-39	Decoeur Ext.	180	-60	207	675423	5343350	308
BO-25-40	Decoeur	220	-55	408	675089	5343598	320
BO-25-41	Paquin	187	-51	225	676496	5343909	324
BO-25-42	Paquin	150	-52	222	676495	5343909	325
BO-25-43	Paquin	210	-45	234	676551	5343907	324
BO-25-44	Paquin	210	-45	252	676796	5343897	323
BO-25-45	Paquin	210	-45	273	676601	5343677	321
BO-25-46	VLF	210	-45	252	676551	5343589	321
BO-25-47	VLF	210	-45	264	676501	5343503	320
BO-25-48	VLF	210	-45	312	676793	5343508	311
BO-25-49	VLF	210	-50	252	676843	5343595	311
BO-25-50	Decoeur Ext.	180	-60	162	675641	5343263	316
BO-25-51	Decoeur Ext.	180	-60	174	675838	5343286	310
BO-25-52	CB-1	153	-45	201	677036	5344273	338
BO-25-53	CB-1	343	-45	252	677036	5344273	338
BO-25-54	CB-1	155	-48	357	677011	5344327	340
BO-25-55	CB-1	156	-45	330	676898	5344358	339
BO-25-56	CB-1	156	-45	300	677092	5344409	339
BO-25-57	Paquin	211	-50	204	676625	5343718	321
BO-25-58	Paquin	210	-50	201	676674	5343705	321
BO-25-59	Paquin	210	-50	204	676575	5343732	324

Figure 4: Gold mineralisation in drilling relative to modelled historical VLF EM data

Historical Results

The Corporation has completed a first drilling program of nine holes totaling 2,381 meters in Q4 2021. These holes drilled to verify the historical data of the Paquin-Est, Paquin Ouest and Decoeur zones confirm the presence of gold, most of which have intersected several significant gold values in zones of deformation and silicification strongly mineralized.

Located in the Paquin East zone, hole BO-21-08 intersected a 9-meter gold section grading 16.96 g/t Au including a 4.5-meter zone grading 33.21 g/t Au also including 1 meter at a grade of 129.25 g/t Au while BO-21-09 revealed a gold zone of 4.5 meters at a grade of 3.21 g/t Au including 2 meters at a grade of 4.11 g/t Au.

In the Decoeur zone, holes BO-21-01 and BO-21-02 returned grades ranging from 1.03 g/t Au over 9.3 meters and 1.09 g/t Au over 17.84 meters respectively while BO-21-03 revealed a grade of 2.02 g/t Au over 3 meters in an anomalous zone of more than 12 meters along the hole.

Hole # *	From (m)	To (m)	Length (m) **	Au (g/t)	Zone
BO-21-01	172,3	173,40	1,10	1,29	Decoeur
	177	187,50	10,5	0,89
incl	177	178,00	1,0	1,40
incl	181,50	183,00	1,50	1,18
	184,50	186,00	1,50	1,01
And	201,00	202,50	1,50	1,17
BO-21-02	117,00	133,30	16,30	1,09	Decoeur
Incl	118,50	120,00	1,50	1,52
Incl	121,50	123,00	1,50	1.75
Incl	124,50	126,00	1,50	1,00
Incl	129,00	130,50	1,50	1,02
Incl	130,50	132,00	1,50	2,24
BO-21-03	124,50	127,50	3,00	2,02	Decoeur
BO-21-07	212,00	213,00	1,00	3,74	Paquin Est
And	228,25	229,25	1,00	1,10
BO-21-08	169.00	170,00	1,00	1,40	Paquin Est
	178,50	187,50	9,00	16,97
Incl	181,50	186,00	4,50	33,21
Incl	184,00	185,00	1,00	129,25
And	206,00	207,00	1,00	1,19
BO-21-09	190,00	194,50	4,50	3,21	Paquin Est
Incl	190,00	191,00	1,00	4,13
Incl	191,00	192,00	1,00	4,09
And	220,50	222,00	1,50	1,01
And	223,20	223,50	0,30	2,05
And	225,60	226,75	1,15	1,20

**Top 10 Gold Intercepts in Canada (week of 02/04/22)**

Geology

The Bousquet Property is underlain by meta-sedimentary rocks of the Cadillac, Timiskaming and Pontiac Groups and from volcanic flows and intrusives of the Piche Group. The Cadillac-Larder Lake Break crosses the property for 7 km in the northern part of the Normar Block.

Historical Gold Mineralization

A strong gold mineralized system was discovered in the southern portion of the Bousquet Lake Property. Three gold showings, Decoeur, Paquin East and Paquin West and Calder-Bousquet, were discovered in the early exploration work (1932-1945) on the property. These showings have probably been formed in the same mineralizing episode within regional E-W trending faults. On the Decoeur showing, grades of 8.40 g/t Au over 1.77 m, 4.35 g/t Au over 4.83 and 4.04 g/t Au over 1.52 m were intersected in historical drill holes. On the Paquin showings, 3.73 g/t Au over 5.49 m, 5.91 g/t Au over 3.02 m and 6.84 and 6.53 g/t Au over 2.44 m were intersected in historical drilling. An intercept of 8.09 g/t Au over 2.0 m was also intersected on the Calder-Bousquet gold occurrence.

The gold mineralization is located in a fold zone above the 250m level. Strong possibilities exist that other folds from the same deformation exist laterally or at depth. The Blackfly group of claims has been little explored in the past due to the paucity of outcrops but the use of new geophysical methods can generate good and valid targets from the deposit models of this high quality location within one of the most prolific world class gold belt.

Gold mineralization was also found in a 2003 drill program in the felsic intrusion (called tonalite) within the Cadillac fault zone. The intrusive is found between two talc-chlorite schist units of the Piche Group. Hole TMN-03-31 intersected 4.75 g/t Au over 1.5 m in quartz veins, veinlets, and zones of silicification and hole TMN-03-08 intersected 1.42 g/t Au over 1.5 m and 0.71 g/t Au over 5.7 m gold also in the tonalite.