Visionary's Dual Play: Unleashing the 'Kraken' in Newfoundland

VANCOUVER, BC – June 04, 2026 – In the world of mineral exploration, progress is measured by a combination of drill-bit success and strategic foresight. Visionary Copper and Gold Mines Inc. (TSX-V: VCG) just signaled a major push on both fronts, launching a multi-pronged offensive at its 100%-owned Pt. Leamington Project in central Newfoundland that could significantly reshape the asset's potential. The company has submitted permits for an aggressive Phase 2 drilling program, mobilized field crews for the season, and is simultaneously preparing to systematically explore a vast, newly expanded 30,000-hectare land package. This flurry of activity isn't just a routine seasonal ramp-up; it's a direct response to a highly successful Phase 1 campaign that didn't just meet expectations—it uncovered a promising new copper-rich horizon aptly named the 'Kraken Zone'.

The Kraken Awakens: A Catalyst for Growth

The driving force behind Visionary's accelerated timeline is the recent success of its Phase 1 drilling—the first at the project in over two decades. The program not only expanded the known deposit but, more critically, discovered and confirmed the Kraken Zone, a significant copper-rich footwall horizon. Volcanogenic Massive Sulphide (VMS) deposits like Pt. Leamington are prized for their polymetallic nature, often containing a mix of copper, zinc, gold, and silver. The discovery of a distinct, deeper mineralized system like the Kraken Zone is a game-changer, suggesting the geological engine that formed the original deposit may have been larger and more complex than previously understood.

Results from Phase 1 were compelling. Every single hole drilled to test the Kraken Horizon hit base and precious metals mineralization, confirming its continuity over an 800-meter strike length that remains open for expansion. Key intercepts, such as 75.8 meters grading 0.45% copper in one hole (PL-112) and 41.5 meters of 0.39% copper in another (PL-118), demonstrate the zone's potential for bulk tonnage. The company's Phase 2 drilling, for which permits have now been submitted, will deploy two rigs to systematically upgrade and expand the existing resource while aggressively delineating the full extent of this new discovery.

Max Porterfield, President & CEO of Visionary, conveyed the company's momentum, stating, "The Phase 1 program delivered everything we hoped for and more with mineralization in every Kraken hole, wide intervals of base metals confirmed across over 800 metres of strike, and results that give us a clear, high-confidence target set for Phase 2. With permits submitted, rigs being lined up, and our people on the ground right now preparing the site and ground-truthing our regional targets, Visionary is executing on all fronts simultaneously. We have never been better positioned to move this project forward."

A Two-Pronged Strategy for Regional Dominance

What makes Visionary's current push particularly noteworthy is its dual focus. While one team prepares to drill deeper into the known Pt. Leamington deposit and the Kraken Zone, another is fanning out across a massive, 300-square-kilometer regional land package. This isn't just staking for the sake of size; it’s a calculated move to secure the entire geological district surrounding a known, significant VMS deposit.

This strategy is crucial. VMS deposits rarely occur in isolation. They often form in camps or clusters, and securing the prospective host stratigraphy—in this case, the Wild Bight Group volcanic rocks—gives the company a commanding position. The newly filed prospecting permits will allow crews to conduct systematic ground-truthing, geochemical sampling, and geophysical surveys across this vast area. The goal is to move from a single-project focus to a district-scale pipeline of targets, transforming Pt. Leamington from a deposit into the potential anchor of a new mining camp.

This approach aligns with a broader industry trend where junior explorers are leveraging modern exploration technology to unlock value in historically overlooked, mining-friendly jurisdictions. With its proximity to roads, power, and the town of Grand Falls-Windsor, central Newfoundland offers the kind of logistical advantages that can significantly de-risk a project and shorten the path from discovery to development.

Dusting Off History at Lewis Lake

Perhaps the most intriguing part of Visionary's regional strategy is its focus on the Lewis Lake area, which forms a key part of the expanded land package. This ground comes with a compelling backstory, having been explored by a joint venture including mining giant Billiton (now BHP) between 1999 and 2001. After extensive surveys and drilling, Billiton concluded that Lewis Lake possessed "an environment that is permissive to host a large massive sulphide deposit." Yet, for over two decades, the area has seen no follow-up drilling.

The reasons for this hiatus are common in the cyclical mining industry—shifting corporate priorities, fluctuating metal prices, or a focus on more advanced assets. For Visionary, this represents a unique opportunity to build on high-quality historical work. The company has identified a portfolio of high-priority targets left behind by its predecessors. These include strong, undrilled electromagnetic (EM) conductors—geophysical signatures that can indicate the presence of massive sulphides. One such target couldn't be tested in 2001 due to boggy ground conditions, while several others were identified as "off-hole" anomalies, meaning historical drill holes passed near, but not through, a conductive body.

By integrating over 1,150 line-kilometers of historical geophysical data with modern re-interpretation, Visionary is essentially picking up a cold case with a new set of forensic tools. The plan is to systematically test these undrilled conductors and off-hole anomalies, hoping to make the discovery that eluded a major two decades ago.

Market Tailwinds and Financial Readiness

Visionary's ambitious exploration program is unfolding against a highly favorable macroeconomic backdrop. The commodities contained within the Pt. Leamington deposit—copper, zinc, gold, and silver—are all experiencing strong market fundamentals. Copper and zinc are critical metals for the global energy transition, essential for everything from electric vehicles to wind turbines. With analysts from major financial institutions forecasting sustained supply deficits, the long-term price outlook for these base metals provides a powerful economic tailwind for projects like this.

To fund this multi-front campaign, Visionary has been shoring up its treasury. A private placement completed in late 2025 raised over $3 million, with a portion specifically earmarked for exploration at Pt. Leamington. More recently, a strategic investment and subsequent warrant exercise by The Quaternary Group Limited injected further capital, strengthening the company's balance sheet as it enters a period of heightened activity. With teams on the ground, permits in process, and a clear, data-driven strategy, the coming exploration season is poised to be a defining period for the Pt. Leamington project and Visionary's ambitions in Newfoundland.