GPS Commences Drilling Program at Everton, Victoria
Vancouver, BC, Canada – Monday, March 2nd, 2026 – Great Plains Metals Corp. (“GPS” or “the Company”, TSX-V: GPS, Frankfurt Exchange: 8VC) is pleased to provide an update regarding the drilling program at the Everton Project in Victoria (Figure 1).
Highlights:
- Re-evaluation of legacy data including mine records, identified walk-up drill targets at the former Everton Molybdenum mine.
- Recent detailed geological mapping identified previously unrecognized cupolas with textures typical of those observed in Pencil Porphyries.
- Landowner access agreements were finalized late in 2025 and diamond drilling has commenced to evaluate outcropping molybdenum mineralization.
Re-evaluation of legacy mining records and exploration conducted during the 1970’s data has identified a number of walk-up drill targets within the former open cut workings at historic Everton molybdenite mine which are interpreted to represent the uppermost section of a mineralized pencil porphyry system. Previous mining was centered on two cupolas with distinctive unidirectional solidification textures (USTs) with disseminated molybdenite mineralization observed in outcrops and at the mine dumps (Figure 2). A first pass shallow diamond drill campaign comprising a minimum of five holes has commenced, and further updates will be provided as the drilling progresses. Assays are anticipated to be received in Q2.
The Everton Molybdenum Mine
Approximately 20,000T @ 1.4% Mo was mined at Everton during the period 1918-1926 from open cut and shallow underground workings Only limited previous exploration has been conducted since that time, mostly 40 years ago. It was also Australia’s highest grade molybdenum mine. Everton is strategically located at the southern extension of the Lachlan Fold Belt where numerous porphyry-related deposits are currently being actively explored.
Molybdenum (Mo), is a silver-grey transition metal renowned for having one of the highest melting points of any element. Because it resists softening or expanding at extreme temperatures, it is classified as a refractory metal and is indispensable in high-stressindustrial applications. It is also one of the critical elements and is currently trading around US$27 per pound.
Aidan Bishop, CEO, commented:
“The presence of rocks displaying unidirectional solidification textures (USTs) indicates the tops of unrecognized pencil porphyries (figure 2). The exciting aspect about Everton is that the pencil porphyries are exposed at the surface (figure 3). Others may be present nearby under cover. The focus of the current drill program will be to delineate the geometry and size of the system and determine the intensity of mineralization. The Everton project is a great example of the Company’s rapid discovery model for low-cost exploration across a portfolio of drill ready projects”
Qualified Person: The scientific and technical data contained in this news release, has been reviewed and approved by Douglas Kirwin, who serves as the qualified person (QP) under the definition of National Instrument 43-101.