Archer Exploration Corp. announced the results of its 2023 Fall drilling program at its 100% owned Grasset Nickel Project ("Grasset") in the Abitibi Greenstone Belt of Quebec, Canada. The objective of the Fall drilling program was to explore the nickel-rich sulphide zone discovered during Summer 2023 drilling in the southeastern portion of the H1 mineralized Horizon and was successful in extending the high-grade H1 Discovery Zone to a known depth of approximately 430 metres.

The drilling program consisted of two holes totaling 1,132 metres. Hole GR23-07 intersected the H1 zone at a depth of 430 metres, 100 metres below the high-grade intercept of hole GR23-03. The northern contact of the ultramafics, where H1 mineralization is located, was strongly sheared and hosted a few metres of disseminated sulphides.

Within 10 metres of the ultramafic contact the hole intersected 0.44 metres of massive sulphides grading 2.97% Ni and 4.1 g/t Pt-Pd within felsic volcanics. Finding the massive sulphides outside the ultramafic rocks is a first on the Grasset Property but it's not uncommon in other nickel mining camps like Sudbury, or particularly Norilsk where the bulk of the mineralization is within the sediments under the ultramafics. Hole GR23-08 cut the H1 horizon 60 metres south-east of hole GR23-07, at a depth of 420 metres.

It intersected two zones of mainly net texture sulphides that graded 2.14% Ni over 1.40 metres and 1.06% Ni over 5.60 metres respectively. The results of the last two holes of 2023 confirmed the extension of the H1 mineralization at depth under discovery hole GR23-03, with nickel grades higher than the Indicated Resource grade of the H1 horizon of 0.82%. It also demonstrates the presence of a strong mineralizing system that is still open in all directions below 250 metres in the South-East part of the H1 horizon.

Grades and textures observed indicated the potential for the last intersections to be at the fringe of a new high-grade-hosting ultramafic conduit. The Grasset Deposit, discovered in 2012 and located at the southern end of the Grasset Ultramafic Complex, comprises two subparallel, and sub-vertically dipping zones (H1 and H3 horizons) of disseminated to locally semi-massive sulphides mineralization. The H1 and H3 horizons each remain open at depth and along strike to the northwest.

In 2021, an updated mineral resource estimate, using a 2016 drilling cutoff, was completed with an Indicated Mineral Resource Estimate of 5.5 Mt grading 1.53% nickel equivalent ("NiEq") and an Inferred Mineral Resource Estimate of 217,000 tonnes grading 1.01% NiEq. The vast majority of the Grasset Ultramafic Complex is underexplored and limited exploration prior to 2016 resulted in the discovery of several significant nickel sulphides showings along the entire 23- kilometre-long belt. Most notable is the GUC Central discovery, 7 kilometres northwest of the Grasset Deposit, which hosts a 950-metre-thick ultramafic sequence with several mineralized horizons of nickel sulphides and a best mineralized intercept of 4.14% Ni over 0.65 metres, within 7.58 metres of 1.05% Ni.

The Grasset Deposit is one of the largest nickel sulphides deposits in Canada's Abitibi region and theonly North American nickel sulphides deposit, with an Indicated Mineral Resource Estimate of more than 50,000 contained tonnes of nickel and an average NiEq grade of over 1.5%, not controlled by a major mining company.