AGORACOM Small-cap Investor Relations Blog

• Announced completion of Preliminary Metallurgical Testing on the low grade near surface gold ore on the Timmins Porcupine West Property
• Selected a representative sample from diamond drill holes in the area of the potential open pit
• 5 kilogram composite sample of mineralized diamond drill core was sent to SGS Minerals Services in Lakefield, Ontario for metallurgical test-work

ROUYN-NORANDA, Quebec, May 31, 2018 – Explor Resources Inc. (“Explor” or “the Corporation”) (TSX-V:EXS) (OTCQB:EXSFF) (FSE:E1H1) (BE:E1H1) is pleased to announce the completion of Preliminary Metallurgical Testing on the low grade near surface gold ore on the Timmins Porcupine West Property (the “TPW Property” or  the “Property”). Explor selected a representative sample from diamond drill holes in the area of the potential open pit. A 45 kilogram composite sample of mineralized diamond drill core was sent to SGS Minerals Services in Lakefield, Ontario for metallurgical test-work.

The test program included sample preparation, characterization, and flowsheet development testing. Ore characterization included grindability, mineralogy by QEM-RMS (QEMSCAN) rapid mineral scan, and chemical head grade analysis. Flowsheet development testwork focused on gravity separation, as well as flotation and cyanidation of gravity separation tailing.

In summary, the composite sample was analyzed by a screened metallics protocol and resulted in a head grade of 2.64 g/tonne gold. Testing indicated very little silver and negligible arsenic in the composite sample. It was noted that most of the sulphide sulfur was present as Pyrite (3.07%), Chalcopyrite (approximately 0.12%) and Pyrrhotite (0.02%). The Bond Mill work index was determined to be 13.1 Kwh/tonne. A gravity test was conducted and it was determined that the 37.5% of the gold exists as microscopic free gold, indicating that in any future mill design a gravity circuit will be necessary at the front end of the concentrator. Flotation testing indicated that up to 93% of the gold can be recovered as a pyrite concentrate. Cyanide leach test were conducted on the pyrite concentrate and greater than 94% gold extraction was achieved over a 24 hour period. The gold is not refractory and is not locked within the pyrite. A testing of the tailings product (ABA and NAG testing) indicates that there is no potential for acid generation in the flotation tailings material.

Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are very excited about these preliminary Metallurgical results. The low Bond work index combined with the high percentage of free gold and potential greater than 93% gold recovery and with the fact that there is no potential for acid generation in the tailings material make this property very valuable from a development perspective.”

The highlights of the reported test-work includes the following results:

• Gold analysis by screened metallics protocol at +/-150 mesh (106 μm) yielded a head grade of 2.64 g/t Au with >20% of the gold in the coarse fraction indicating favorable recovery by gravity.

• Silver reported at less than the AAS detection limit of +/-0.5 g/t while sulphide sulphur, total carbon and arsenic were assayed at 1.48%, 0.7% and <0.001%, respectively.

• Based on the semi-quantitative QEM-RMS analysis, most of the sulphide sulphur was present as pyrite (3.07%). Chalcopyrite was the second most abundant sulphide mineral at ~0.12% and pyrrhotite was third at 0.02%.

• The Bond ball mill grindability test results indicated that the ore fell in the low medium range of hardness, at 13.1 kWh/tonne. The ore fell at the 36th  percentile compared to the SGS database.

• In a batch gravity separation test completed, gravity gold recovery to a low mass concentrates (~0.04% of the feed mass) yielded a gold recovery of 37.5% at a primary grind size P80 of ~130 μm. These initial results suggest a high probability of significant potential for the use of gravity circuit at the front end of the mill. Additional gravity separation testwork is recommended in any future studies.

• Rougher flotation tests on gravity separation tailings indicated that gold recoveries in the ~93% range (including the gold recovered by gravity separation) were achievable in ~5% mass pull at a P80 of ~130 μm. There appeared to be an improvement in gold recovery with finer grinding (to P80 = 59 μm).

• Additional testing will be required to optimize the primary grind size for optimal rougher flotation performance. Additional test work is recommend, examining the cleaning characteristics of the rougher concentrate. It may be possible to generate a cleaner flotation concentrate approaching 50 g/tonne Au, compared to the ~30 g/t generated preliminary metallurgical in the preliminary rougher flotation testwork. Locked cycle flotation testing is also recommended to establish a more realistic understanding of potential gold recovery in closed-circuit in a flotation plant.

• Cyanide leach tests examining the impact of grind size on gold recovery from the gravity separation tailings indicated gold extractions >94% (including gravity separation gold recovery) at P80’s of 74 μm or finer. Although the gold appears to be associated with pyrite and floats well with pyrite, it is not refractory and locked in the pyrite. Gold leaching appeared to be essentially complete within 24 hours.

• Further testing to optimize cyanide leach parameters is recommended. This testing should address the optimization of feed particle size, leach retention time, pulp density, and cyanide dosage. This testing should encompass leaching of both whole ore (gravity tailings) as well as float concentrates. Subsequent work is recommended to evaluate the gold recovery circuit (CIP or CIL) and establish preliminary design criteria.

• Baseline environmental evaluation (ABA and NAG testing) of a tailing representing a gravity +rougher flotation flowsheet indicated there is no potential for acid generation in flotation tailings material.

Chris Dupont, P.Eng is the qualified person responsible for the information contained in this release.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).

This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of Cu-Zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.

For further information please contact: