Krait Critical Minerals Corp. has outlined a $250,480 exploration program for its Goldbar Spider Lake Project in Northern Ontario, following an updated independent technical report and an airborne geophysical survey that identified seven discrete conductive zones.

The 3,636-hectare property comprises 148 unpatented mining claims in the Tuuri and Walsh townships within the Thunder Bay Mining Division. Krait holds the right to earn a 100% interest under an option agreement, subject to a 3% net smelter return royalty. The property sits about 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon within the western Schreiber-Hemlo Greenstone Belt.

In April 2026, Geotech Ltd. flew approximately 262 line-kilometres of helicopter-borne VTEM Plus time-domain electromagnetic and magnetic gradiometer data across the claims. The survey mapped seven discrete conductive zones, designated Zones A through G, displaying conductivity-thickness characteristics consistent with metallic sulphides or graphite.

An updated National Instrument 43-101 technical report, effective August 7, 2026, evaluates the property for both Archean orogenic gold mineralization and volcanogenic massive sulphide base and precious metal potential. The report outlines a budgeted program spanning digital geological compilation, geophysical modelling and inversion, helicopter-supported mapping, prospecting, sampling, and multi-element assays.

The company commenced trading its common shares on the Canadian Securities Exchange under the ticker KRIT on August 24, 2026, following final listing approval.

Now that Krait is publicly traded, we want our shareholders to have a clear understanding of where we are with the Goldbar Spider Lake Project and how we intend to advance it. We have completed the airborne geophysics, have an updated independent technical report in hand and now have a defined exploration program designed to turn the information collected to date into actionable targets.

— Oscar Mendoza, Chief Executive Officer and Director

The upcoming fieldwork is designed to ground-truth priority conductors and refine structural interpretations. Krait then intends to conduct a final target-ranking exercise to determine which areas warrant advancement toward future drill testing. A Phase 2 drilling program has not been proposed at this stage and remains dependent on the results generated by the initial exploration work.

Read the full announcement: Krait Critical Minerals Corp. Provides Shareholder Update on Goldbar Spider Lake Project and Outlines Next Phase of Exploration