FOX COMPLEX

About the Fox Complex

Located in Timmins

The Fox Complex is a district-scale gold mining operation located in Timmins, Ontario—one of Canada’s most prolific gold camps.

It combines current underground production with a growing pipeline of development and exploration assets, supported by centralized infrastructure at the Stock Mill.

The complex is transitioning from a single-mine operation into a multi-deposit, long-life mining platform.

Fox
Complex
KEY HIGHLIGHTS

District-scale gold mining operation in Timmins, Ontario

Total Gold Resources: 2.6 million ounces Measured & Indicated + 0.9 million ounces Inferred (Dec 2025)

Multiple deposits feeding a centralized mill

Clear pathway to scalable, long-life production

OVERVIEW
OF THE FOX COMPLEX

The Fox Complex benefits from its location in an established mining district with excellent infrastructure, access to skilled labor, and a long history of gold production. Since 1915, the properties have produced approximately 3.5 million ounces of gold, underscoring the scale and endowment of the district.

The operation currently produces from the Froome Mine while advancing additional deposits toward production. The properties span approximately 30 kilometers of structural controls along the Destor-Porcupine Fault—known as the “Golden Highway”—a prolific regional structure hosting many of the richest gold mines in Ontario and Quebec. This setting provides significant exploration and development potential.

With several deposits at different stages of development, the Fox Complex provides operational flexibility and the ability to sequence mining activities over time. This integrated approach supports production growth, cost optimization, and extended mine life, positioning the Fox Complex as a scalable platform for long-term growth in the Timmins district.

In 2025, the Fox Complex produced approximately 23,000 gold equivalent ounces (GEOs). In 2026, production is expected to be 16,000 to 19,000 GEOs as development advances at Froome West and the Stock Mine moves toward initial production.

The Fox Complex is expected to play an important role in the Company’s goal of doubling production by 2030, contributing 75,000 to 90,000 GEOs annually toward a consolidated target of 250,000 to 300,000 GEOs.

FOX COMPLEX INFRASCTRUCTURE

The Fox Complex is supported by the Stock Mill, a centralized processing hub that enables multiple deposits to be developed and integrated efficiently. The Stock Mill is a conventional processing facility supporting ore from underground and future open pit sources. Additional infrastructure, including underground development, haulage routes and site services, supports the processing of material and the advancement of new mining areas.

The ability to leverage existing infrastructure reduces capital requirements for new developments and enhances the overall economics of the complex.

Fox Complex Production

1915 to 2025:

3,472,408

GEOs

PRODUCTION & DEVELOPMENT

Production at the Fox Complex is currently sourced from the Froome Mine through underground mining, which continues to provide a reliable and consistent feed to the Stock Mill. Recent drilling at Froome West has extended mineralization both along strike and at depth, supporting continued production and potential mine life extensions.

The Stock Mine represents the next step of production growth and is advancing toward initial production by mid-2026, with commercial production expected in 2027. As Froome matures and Grey Fox advances, Stock is expected to enhance operational flexibility and support the phased ramp-up of production across the complex. Its proximity to the mill, lower royalties, and favorable processing characteristics are expected to position Stock as a source of lower-cost production.

Grey Fox is the primary long-term growth driver and largest resource within the complex and is expected to form the foundation of future production. The project is advancing through engineering studies, with a Pre-Feasibility Study expected in the second quarter of 2026 to evaluate a combination of underground and open pit mining methods to optimize development and maximize value.

FOX COMPLEX
EXPLORATION

Fox Complex in Timmins-Matheson area map

Exploration is a key component of the Fox Complex, which is located within the Abitibi Greenstone Belt—one of the world’s most prolific gold districts. Gold mineralization across the property occurs in multiple styles, including quartz veins, stockworks, and sulphide-hosted systems associated with strong alteration zones, reflecting the geological complexity and potential of the district.

Despite a long history of exploration and production, the Fox Complex remains relatively underexplored, with multiple prospective structural trends and targets identified across the property.

Recent results at Froome West have extended high-grade mineralization along strike and at depth, supporting potential mine life extensions and additional resource growth.

Exploration is closely integrated with development activities, including planned parallel drilling at Stock and other deposits to support future resource growth and production as mining advances.

At Grey Fox, active drilling has demonstrated strong continuity and expansion potential across multiple zones, reinforcing its role as the primary long-term growth driver.

Continued exploration investment supports the expansion of the resource base and reinforces the long-term growth potential of the complex.

FOX COMPLEX
GOLD RESOURCES

MEASURED

94,000 OZ AU

INDICATED

2,548,000 OZ AU

INFERRED

879,000 OZ AU

For details see the Company's
2025 10-K Report

RESOURCES & DEPOSITS

The strength of the Fox Complex lies in its multi-deposit resource base, which provides both scale and flexibility. Gold resources are distributed across several deposits, including Grey Fox, Froome, Stock West & Main, Stock East, Black Fox, Fuller, and Davidson-Tisdale. These deposits are located within trucking distance of the central mill, allowing for efficient development and integration into a unified mine plan.

Grey Fox is the cornerstone of future growth, with gold resources of 1.9 million ounces Indicated (average grade 3.02 g/t Au) and 436,000 ounces Inferred (average grade 2.66 g/t Au) as of Dec 2025 (press release dated Jan 20, 2026). The project continues to demonstrate strong exploration potential, with multiple zones and opportunities for expansion.

Froome and Froome West support near-term production and have shown encouraging drilling results, reinforcing the potential to extend mine life. Additional deposits across the property provide longer-term optionality and contribute to the overall scale of the complex.

This distributed resource base allows for flexible mine planning and supports a long-term, multi-phase development strategy.

FOX
COMPLEX
GROWTH STRATEGY

The Company is advancing the Fox Complex through a phased development strategy designed to balance near-term production with long-term value creation by:

Maintaining and optimizing production from Froome
Bringing Stock Mine into production to enhance flexibility and reduce costs
Developing Grey Fox as the primary long-term production source
Continuing exploration to expand resources and support future mining areas

Through this approach, the Fox Complex is expected to play a key role in the Company’s broader objective of increasing production and extending mine life over the long term.


Email Address *