Viridian Metals Expands Drill Program to 50 Holes at Kraken Copper-Nickel Project
OTTAWA, Ontario, May 19, 2026 (GLOBE NEWSWIRE) — Viridian Metals (CSE: VRDN) (“Viridian” or the “Company”) will commence a minimum 50-hole drill program in early June at its Kraken Copper-Nickel Project in Labrador, aimed at defining the scope of copper-nickel sulphide mineralization traced over approximately 5 kilometres along the Main Zone. Previous drilling intersected mineralization at roughly 1-kilometre spacing, outlining the scale of the Main Zone discovery. The Company’s 2024 and 2025 drilling campaigns established continuity of mineralization at the sub-kilometre scale within the northern portion of the system through tighter-spaced drilling. The 2026 campaign will connect these broader-scale and tighter-spaced drilling results into a continuously drill-defined mineralized footprint along the Main Zone.
The program will include:
- Approximately 50 diamond drill holes targeting mineralization within 50 metres of surface
- Extension drilling on previously reported mineralized intercepts, including holes VKS25-024 and VKS24-003
- Testing newly modeled conductor plates beyond the reach of earlier drilling
- Follow-up drilling on conductive targets along the broader Main Zone trend
- Integration of downhole electromagnetic (“DHEM”) surveying at Kraken for the first time
“The 2026 program is designed to connect broad-spaced drilling completed across the 5-kilometre Main Zone with the tighter-spaced drilling completed in the northern portion of the system, advancing Kraken toward a continuous drill-defined footprint,” stated Tyrell Sutherland, President and CEO of Viridian Metals. “Some previous holes ended in mineralization or stopped short of their target depths, providing immediate opportunities to expand mineralized intercepts by extending existing drillholes. Massive sulphides horizons are generally thicker than anticipated, making these follow-up holes an efficient way to continue building scale within the system. The introduction of downhole EM will assist in vectoring toward these thicker sulphide accumulations as we test along the 5km long body.”
Several holes completed during prior campaigns either ended in mineralization or failed to reach their intended target depths, providing multiple immediate follow-up targets for the 2026 campaign. An initial focus will include extending hole VKS24-003, which intersected 21.1 metres grading 0.78% CuEq1 (0.26% Cu, 0.27% Ni, 0.04% Co) from surface and terminated in mineralization (see Viridian news release dated November 26, 2024, available on SEDAR+ and the Company’s website), as well as hole VKS25-024, which intersected 24.05 metres grading 0.77% CuEq1 (0.21% Cu, 0.3% Ni, 0.04% Co) from 1 metre and terminated in mineralization (see Viridian news release dated February 26, 2025, available on SEDAR+ and the Company’s website). Additional drilling will also follow up on previous intercepts containing local high-grade copper zones exceeding 4% copper (see Viridian news release dated November 26, 2024).
Viridian expects to mobilize an initial drill to site in June, with a second drill anticipated to begin operating later in the summer.
Qualified Person
Tyrell Sutherland, P.Geo (Ontario), President and CEO of Viridian Metals, who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release.
1Copper Equivalent Calculation
CuEq represents CuEq calculated based on the following metal prices (USD): 4.0 $/lb Cu, 7.5 $/lb Ni and 15.0 $/lb Co., and a recovery grade of 80% for Ni and Co, consistent with comparable peers. The Company believes that all metals included in the CuEq calculation have a reasonable potential to be recovered. CuEq values are provided for illustrative purposes only; actual recoveries and metal prices may differ materially from those assumed.
About Viridian Metals
Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metals deposits with the potential to transform the metal supply chain. We leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Our commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.
For further information, please contact:
Viridian Metals
Tyrell Sutherland
CEO
Telephone: (613) 884-8332
Email: [email protected]
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Information
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Viridian with respect to future business activities and operating performance.
Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information in this news release includes, but is not limited to, statements regarding: (i) the timing, commencement, scope, design and completion of the planned 2026 drill program at the Kraken Copper-Nickel Project, including the minimum number of holes, targeted depths and the timing of drill mobilization; (ii) the expectation that the 2026 program will connect broad-spaced and tighter-spaced drilling into a continuous drill-defined mineralized footprint along the Main Zone; (iii) the potential to expand mineralization through extension drilling on holes that previously ended in mineralization or stopped short of their interpreted target depths, including holes VKS25-024 and VKS24-003; (iv) the expectation that sulphide accumulations are thicker than originally anticipated and that downhole electromagnetic surveying will assist in vectoring toward such accumulations; (v) the potential for positive future drill results, including assays not yet received; (vi) the business plans and expectations of Viridian; and (vii) expectations for other economic, business and/or competitive factors in respect of Viridian.
Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Viridian to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Viridian, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects Viridian’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the availability of drill rigs, qualified personnel and contractors on the timelines anticipated; the ability to obtain and maintain all required permits, surface access rights and Indigenous and community consents to conduct the planned program; weather, site access and logistical conditions in Labrador remaining consistent with the Company’s expectations; the accuracy of the Company’s geological models and the Company’s interpretations of prior drilling, geophysical surveys and modeled conductor plates; the continued availability of financing and working capital to fund the program through to completion; commodity prices for copper, nickel and cobalt remaining at levels supportive of the program; the absence of material adverse changes in applicable laws, regulations or political conditions; the ongoing conflicts in Ukraine and the Middle East and any actions taken by other countries in response thereto, such as sanctions or export controls; and anticipated and unanticipated costs and other factors referenced in the Company’s continuous disclosure record available on SEDAR+, including, but not limited to, those set forth in the Filing Statement under the caption “Risk Factors”. Although Viridian has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, Viridian disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
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