$7–8M Exploration Budget Focused on Three Core Yukon Projects

• Yukon Metals (CSE: YMC) is a junior exploration company focused on three high-priority projects—Star River, AZ (A-Zed), and Birch—in the Yukon, with district-scale potential and strong accessibility.
• The company is well-funded with ~$17 million in cash and plans to spend $7–8 million in 2025 on drilling and geophysical programs across the three core assets.
• Star River is the lead target for 2025, showing high-grade silver (up to 11,000 g/t) and gold (up to 101 g/t) at surface, supported by overlapping geophysical anomalies.
• AZ hosts a 1.2 km Gossan zone with surface copper grades up to 3.5% and nearby trenching results of 10.3% Cu; Birch is believed to be an intact copper porphyry system with coincident gold, copper, and molybdenum anomalies.
• Backed by the Berdahl family (founders of Snowline Gold), Keith Neumeyer, and other high-net-worth investors, Yukon Metals benefits from a strong shareholder base and disciplined capital allocation.

Yukon Metals Corp. (CSE: YMC) is an early-stage mineral exploration company advancing multiple high-potential assets in the Yukon Territory. Formed in 2024, the company inherited a significant land package - 17 properties in total - assembled over two decades by the Berdahl family, who are also the originators of Snowline Gold. Now led by CEO Rory Quinn, Yukon Metals is focused on unlocking the discovery potential of its three most advanced projects: Star River, AZ, and Birch. With strong financial backing, a robust technical team, and properties that benefit from rare infrastructure proximity in the Yukon, Yukon Metals is positioning itself for discovery in 2025 and beyond.

Company Genesis & Strategic Foundation

Yukon Metals was born from the unbundling of the Berdahl family's privately held portfolio of mineral properties. Rory Quinn, who brings 20 years of junior mining experience and a corporate development background from Wheaton Precious Metals, was brought in to lead the company into public markets.

“I was at Wheaton while we did $6 billion worth of transactions… I had some experience looking at early-stage assets with potential.” 

Quinn added that Keith Neumeyer, a major figure in the mining industry, encouraged him to take the helm at Yukon Metals. The Berdahl family’s success with Snowline Gold - a company now valued at over C$1.3 billion - has created a halo effect around Yukon Metals, which inherited 17 properties and is now focused on three primary targets while evaluating others for potential partnerships or spinouts.

Prioritizing a Portfolio: Star, AZ, and Birch

Out of the 17 properties, Yukon Metals has selected three core projects for aggressive advancement in 2025: Star River, AZ, and Birch. The selection was based on a scoring matrix evaluating grade, scale potential, accessibility, and existing data.

“All of those conversations are happening internally. But I think we want to spend a bit more time with a handful of them… to understand if they’ll be core for us moving forward.”

Yukon’s exploration efforts will include 9,000 meters of drilling split across the three projects and a series of geophysical surveys. Importantly, all three projects are either road-accessible or within manageable helicopter distance, greatly reducing logistical costs—an advantage rarely seen in Yukon exploration.

Star River: Flagship High-Grade Precious Metals Target

Star River is Yukon Metals' lead asset for 2025. Located just 5 hours by road from Whitehorse and one hour from Ross River, it sits directly on an all-weather, government-maintained road. The location enables easy access to equipment, personnel, and supplies, reducing cost and permitting time.

Initially considered a silver-lead-zinc target, surface sampling at Star River has shifted the company’s focus toward precious metals. 

“Our first news… was sampling almost 11,000 gram per ton silver… and then 101 gram per ton gold.”

These high grades are supported by overlapping electromagnetic (EM) and gravity anomalies, suggesting a significant carbonate replacement-style system. Yukon Metals plans to drill 4,000 meters here in 2025, targeting both a near-surface silver vein and a potential gold-bearing mantos zone about 50 meters below.

Interview with Chief Executive Officer, Rory Quinn

AZ: Large-Scale Copper-Gold Prospectivity

AZ is a large, underexplored copper-gold project located just 6 kilometers from the Alaska Highway. The project includes a 1.2 km-long gossan zone with surface grades up to 3.5% copper, with historic trenching elsewhere on the property returning 10.3% Cu.

“We’re finding grade and outcropping all the way along this 1.2 km ridge.”

The 2025 plan includes 2,000 meters of diamond drilling, supported by electromagnetic, gravity, and IP surveys to test continuity and depth of mineralization. The team’s intent is to use initial drilling to inform future targeting and potentially expand the scale of the program.

Birch: Intact Porphyry System Near Casino District

The Birch project, accessible by helicopter, is believed to be an intact copper porphyry system. Yukon Metals has already outlined a 1,400-meter gold-in-soil anomaly and collected rock samples with up to 4% copper and 14 g/t gold.

“We think there’s a signature there for an intact copper porphyry.” 

Quinn cited the project's proximity (~70 km) to Western Copper and Gold’s Casino deposit. Supporting anomalies include molybdenum and tellurium, commonly associated with porphyry systems in the Yukon. Drilling at Birch is planned for late summer (August–September) with a 3,000-meter program targeting both the scarn horizon and porphyry core.

Financial Position & Capital Strategy

Yukon Metals is well-capitalized, having raised $15 million at 38 cents and an additional $11 million at 55 cents—all in hard dollars. The company’s current treasury stands at approximately $17 million.

The company expects to spend $7–8 million in 2025, leaving substantial runway for future work or contingency planning. Holding costs on the balance of the 14 projects are minimal—estimated at ~$70–80k annually—allowing the company to retain optionality without pressure.

Path to Discovery & 2025 Catalysts

For 2025, the company is focused on delivering one or more discoveries through a disciplined, technically informed process. Yukon Metals is not a project generator, but a pure-play explorer with a mandate to make high-grade, scalable discoveries in road-accessible areas of the Yukon.

“Our chances are pretty good of having a discovery. Some investors believe all three [projects] show excellent potential.”

Initial drilling results from Star River, followed by programs at AZ and Birch, will be the primary catalysts for the company in 2025. If successful, Yukon Metals will be well-positioned to scale exploration, attract strategic partners, or rerate based on resource delineation.

The Investment Thesis for Yukon Metals

• High-Grade Discovery Potential: Early-stage results show extremely high grades—up to 11,000 g/t silver and 101 g/t gold—at surface, with compelling geophysical support for larger mineralized systems.
• District-Scale Land Package: Inherited from the Berdahl family, the 17-property portfolio offers long-term optionality beyond the three active projects.
• Low Execution Risk: Road access and year-round infrastructure proximity significantly lower Yukon-specific exploration risks and costs.
• Strong Financial Position: ~$17 million in cash fully funds the 2025 program, allowing focused exploration without near-term dilution.
• Proven Leadership and Backing: Led by industry veterans and backed by the team behind Snowline Gold, the company benefits from strategic insight, market credibility, and loyal shareholders.

Macro Thematic Analysis

The resurgence of interest in Canadian exploration—particularly in politically stable, infrastructure-rich jurisdictions—is driving renewed investor attention toward the Yukon. Global geopolitical instability, coupled with increasing demand for critical and precious metals, is reinforcing the strategic importance of secure domestic supply sources.

Yukon Metals’ projects align with this macro environment. With the potential for high-grade gold, copper, and silver discoveries, the company is positioned to benefit from elevated metal prices, growing demand for electrification inputs (e.g., copper), and investor interest in new discoveries.

“The Yukon’s never been more busy than it is now with folks exploring there and spending money and raising money.” 

The combination of district-scale assets, infrastructure access, and an experienced team places Yukon Metals in a favorable position within this shifting thematic landscape.