William Lake Project

Project Location & Area:

• Located in the southern end of the world-class Thompson Nickel Belt, ~550km north of Winnipeg

• ~250km south of the mining town of Thompson — one of Canada’s most significant nickel districts

• Highway 6 intersects the project, providing all-season access and logistical advantages

• The project area is intersected by Manitoba's hydro-electric transmission line, enabling potential zero-carbon nickel development

• Covers 523.2 km² across 55 granted mining claims and one exploration licence, 100% owned by Leeuwin

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Project History:

• Over 89,500m of historical drilling across 152 holes — replacement cost estimated at over C$35M

• Historical data confirms widespread nickel-copper-PGE sulphide mineralisation across multiple prospects

• Leeuwin’s drilling has extended high-grade mineralisation down-dip and along strike

• Key focus areas include W21, W22, and W56 prospects — all delivering high-grade results and growth potential

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Value Drivers:

• Significant new intercepts from Leeuwin’s 2023–2024 drill programs include:

  • 6.5m @ 2.56% Ni from 439.2m (WL23-365), including:

    • 0.8m @ 4.24% Ni

    • 1.6m @ 3.38% Ni

    • 1.0m @ 2.7% Ni

  • 21.9m @ 1.02% Ni from 206.65m (WL23-367), incl. 1.35m @ 5.02% Ni

  • 4.4m @ 1.55% Ni from 247.1m (WL23-367)

  • Visual intercept of 10.5m of massive to semi-massive sulphides at W21 (WL23-368)

• PGE results confirm strong upside with intercepts such as:

  • 11.27m @ 1.52% Ni + 1.8g/t PGE (WL91-17)

  • 14.4m @ 1.04% Ni + 1.45g/t PGE (WL91-20)

  • 8.2m @ 1.56% Ni + 1.42g/t PGE (WL92-32)

• High-priority EM conductors identified at W21, W22 & W56 via FLEM and DHEM surveys

• Mineralisation remains open in all directions with over 2km of strike defined at W56

• Backed by a technical committee with Glencore, leveraging their nickel expertise

• Located in a low-sovereign-risk, ESG-friendly jurisdiction with excellent infrastructure​