SALIENT FEATURES FOR THE SIX MONTHS ENDED 30 JUNE 2026 (H1 2026) COMPARED WITH 30 JUNE 2025 (H1 2025) (YEAR-ON-YEAR)

• During H1 2026, the Group delivered its best safety performance based on lagging indicators. Tragically, following a fatality-free Q1 2026, the Group experienced a fatal incident at its SA PGM operations and a fatal incident at its SA gold operations. We mourn the loss of three colleagues as a result of these incidents
• Exceptional financial performance, with record revenue of R90bn (US$5.5bn), up 64%, and adjusted EBITDA of R31.8bn (US$1.9bn), up 111%, supported by stable operational delivery and stronger commodity prices
• Significant increase in profitability, generating a  profit of R18.8bn (US$1.1bn)
• Record net cash from operating activities of R19.6bn (US$1.2bn), with 45% of adjusted EBITDA converted into notional free cash flow of R14.5bn (US$881m)
• High operating margins from the SA portfolio, with SA PGM and SA gold all-in sustaining cost (AISC) margins of 44% and 32%, respectively
• Disciplined capital allocation resulted in a 20% reduction in gross debt year-on-year to R32.1 billion (US$1.99bn), and an 18% reduction from H2 2025, while net debt halved and net debt to adjusted EBITDA gearing ratio improved to 0.18x
• Strong cash generation supported the declaration of an interim dividend of R5.7bn (US$352m) equivalent to 201 SA cents per share (49.73 US cents per ADR) at upper end of policy range, representing a 6.6% ¹⁰  trailing 12-month yield and an 8%¹⁰ implied annualised yield based on the interim dividend
• High-return, organic growth investment confirmed for Burnstone (adding >130kozpa gold) and Mt Lyell (adding ~26ktpa copper), in addition to the four SA PGM brownfields projects already in execution, and Keliber ramping up operations with 217.5kt ore mined

KEY STATISTICS – GROUP

KEY FINANCIAL RESULTS

KEY STATISTICS BY REGION

1. The Group reports adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) based on the formula included in the facility agreements for compliance with the debt covenant formula. The Group also reports All-in sustaining costs (AISC) for comparison to similar industry metrics used in the mining industry. See "Non-IFRS measures" for more information on these metrics presented by Sibanye-Stillwater. Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA and AISC are not measures of performance under IFRS Accounting Standards and should be considered in addition to and not as a substitute for any other measure of financial performance and liquidity. For a reconciliation of profit/(loss) before royalties and tax to adjusted EBITDA, see note 19 of the condensed consolidated financial statements. The adjusted EBITDA amount in US$m for the six months ended 31 December 2025 is calculated using the adjusted EBITDA amount in US$m for the year ended 31 December 2025 less the adjusted EBITDA amount in US$m for the six months ended 30 June 2025
2. The Platinum Group Metals (PGM) production in the SA operations is principally platinum, palladium, rhodium and gold, referred to as 4E (3PGM+Au) and measured at the concentrator, and the US underground operations is principally platinum and palladium, referred to as 2E (2PGM)
3. The SA PGM production excludes the production associated with the purchase of concentrate (PoC) from third parties. For a reconciliation of the production and third party PoC, refer to the "Reconciliation of operating cost excluding third party PoC for Total SA PGM operations and Marikana - Six months"
4. See "Salient features and cost benchmarks - Six months" for the definition of All-in sustaining cost (AISC). The SA PGM All-in sustaining cost excludes the production and costs associated with third party PoC
5. The US PGM operations’ underground production is converted to metric tonnes and kilograms, and financial performance is translated to SA rand (rand)
6. During the six months ended 30 June 2025 the US PGM operations recognised R2,466 million (US$139 million) which relates to Section 45X Advance Manufacturing Production Credits applicable to the 2023 and 2024 financial reporting years and presented as a reduction to mining costs. The US PGM operations’ All-in sustaining cost for the six months ended 30 June 2025 were adjusted to exclude the Section 45X Advance Manufacturing Production Credits applicable to the 2023 and 2024 financial reporting years
7. Recycling includes Reldan Pennsylvania (PA), Metallix North Carolina (NC) and Montana recycling sites. The acquisition of the NC site was concluded on 4 September 2025. The six months ended 31 December 2025 only includes the results of the NC site since acquisition
8. Payable zinc production is the payable quantity of zinc metal produced after applying smelter content deductions
9. Average equivalent zinc concentrate price is the total zinc sales revenue recognised at the price expected to be received excluding the fair value adjustments divided by the payable zinc sales
10. Based on the closing share price of R50.28 on 28 August 2026. The 6.6% trailing 12-month dividend yield is calculated using combined dividends of 332 SA cents per ordinary share, comprising the H1 2026 interim dividend of 201 SA cents and the FY2025 final dividend of 131 SA cents. The 8.0% implied yield is calculated by annualising the H1 2026 interim dividend of 201 SA cents per ordinary share and the same reference share price.

OVERVIEW OF THE RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026

In January 2026, we shared a refreshed Group strategy that prioritises our business fundamentals. This strategy outlined a focus on optimising profitability, which, combined with disciplined capital allocation, would create flexibility to deliver long term value accretive growth. During the period under review, we have continued to drive profitability through our strategic priorities including increasing operating margins through performance excellence, improving cost efficiencies through simplification of our operating model, enhancing capital returns through simplifying our portfolio and improving cash conversion.  

A solid operational performance during H1 2026, combined with strong commodity prices, have generated significant earnings and cash.   This has not only demonstrated the value and earnings potential of our unique portfolio, but also allowed the company to materially advance our short term strategic objective of strengthening the business fundamentals.   

The Group delivered record revenue of R90bn (US$5.5bn), a 111%  increase in adjusted EBITDA to R31.8bn (US$1.9bn), record net cash from operating activities of R19.6bn (US$1.2bn) and a net profit of R18.8bn (US$1.1bn), compared to a net loss of R3.9bn (US$211m) for H1 2025.  The quality of this result is reflected in the conversion of 45% of adjusted EBITDA into notional free cash flow of R14.5bn (US$881m). 

The stronger financial position enabled the Group to deliver against its capital-allocation priorities. This includes declaring an interim dividend of R5.7bn (US$352m), strengthening the balance sheet, with gross debt declining by 20% to R32.1 billion (US$1.99bn) and net debt more than halving to R9.7bn (US$593m), reducing net debt to adjusted EBITDA to 0.18x, as well as continuing to invest in value-accretive organic growth through commodity cycles.

SAFE PRODUCTION

Safety remains our foremost priority and the foundation of performance excellence. The Group achieved its best-ever H1  total recordable injury frequency rate (TRIFR) and  serious injury frequency rate (SIFR), with both improving by 8%, while high-potential incidents reduced by 31%, reflecting real risk reduction in our operations.

These improvements were overshadowed by the tragic loss of Khanyile Magwebelele from our Marikana K3 shaft, and Thekololo Nkoe and Xolisa Mtshutshwana from our Kloof Masimthembe shaft, in two separate incidents during Q2 2026, following a fatality-free first quarter. We extend our deepest condolences to their families, friends and colleagues.

The sustained fatal free achievements across the majority of our operations, demonstrates our ability to eliminate fatal incidents and serious harm, and achieving this consistently across the entire group remains our highest priority.  To achieve this our focus prioritises visible safety leadership, disciplined verification and application of critical controls, empowered teams, effective management routines and sustained implementation of lessons learned across all operations.

OPERATING PERFORMANCE

The SA PGM operations continued to deliver consistent production of 831,307 4Eoz (including third party purchase of concentrate), reflecting a year on year decline of 1% , largely driven by lower surface production and lower attributable production from Mimosa. Steady production output combined with disciplined cost management and significantly stronger 4E PGM basket prices (a 67% increase), delivered strong earnings and cash generation for the Group. The SA PGM operations delivered an industry competitive 44% AISC margin, while adjusted EBITDA increased by 302% to R19.2 billion (US$1.2 billion) and Notional free cash flow of R10.4 billion (US$631m) was generated.  

Production across the SA gold operations declined by 2% to 9,134kg (293,665oz), associated with a 9% decrease in underground production, primarily due to the rebasing of the Kloof operations in H2 2025, offset by a 13% increase in surface production, reflecting the transition towards a shallower, higher margin, longer-life portfolio. Higher sales volumes of 9,588kg (308,261oz), combined with a 35% increase in the average gold price, resulted in the SA gold operations delivering record adjusted EBITDA of R9.0bn (US$549m), and Notional free cash flow of R4.0bn (US$241m). Despite cost pressures, with AISC increasing by 14% to R1.64 million/kg (US$3,105/oz), due to inflationary cost increases, higher royalties associated with increased profitability, higher pumping costs at Driefontein and higher third-party aggregate purchase costs (due to higher gold prices) at Cooke, the SA gold operations delivered a robust 32% AISC margin.  The supportive gold-price environment provides an opportunity to assess the potential economic extraction of additional reserves at Kloof beyond 2026, including through the support of appropriately priced hedging mechanisms.

The US PGM operations continued to advance their mechanisation strategy during H1 2026. Production decreased by 2%  primarily due to lower grades at East Boulder, while AISC increased by 12%, as planned investment, development activity and sustaining capital expenditure increased in support of the transition to full mechanisation. Despite these near-term investments, AISC of US$1,347/2Eoz (R22,105/2Eoz) remained below the lower end of annual guidance, supporting a 12% AISC margin. A 70% increase in the average 2E PGM basket price, stronger by-product credits and Section 45X credits further supported profitability. The mechanisation strategy to reduce AISC to approximately US$1,000/2Eoz by the end of 2028 progressed during the period under review, with progress across critical mine development and successful testing of mechanised bolting equipment. In addition, engagements with organised labour and employees has been progressing to secure a labour agreement supportive of the required transition to mechanisation and associated changes to a team-based incentive scheme.

The Recycling operations delivered a standout H1 2026 performance, with increased scale, successful integration and feed optimisation driving higher volumes, margin expansion and strong cash generation from the integrated recycling platform. Adjusted EBITDA increased by 11% to US$164 million (R2.7 billion), and excluding the impact of Section 45X credits, the EBITDA margin improved to 13% from 5% in H1 2025. Normalising for S45X credits in both periods, underlying adjusted EBITDA increased by 536% year-on-year to US$137 million (R2.2 billion). This performance reflects the addition and successful integration of North Carolina, significantly higher Pennsylvania production, operational and commercial synergies across the Recycling operations, favourable precious-metal prices and the optimisation of higher-margin feed streams. The improved performance was further supported by disciplined working capital management, with precious metal ounces recycled and sold increasing by 142% to 2.8 million precious metal ounces. Equivalent gold ounces recycled and sold amounted to 244koz for H1 2026 (H1 2025: 165koz). The recycling business is a strategic contributor to Group earnings and cash generation, while providing diversified exposure to precious metals through a scalable, capital-light processing platform. 

The Century operation remained profitable and cash generative as the current tailings-retreatment operation approaches the end of its life. The operation delivered a 54% increase in adjusted EBITDA to US$55 million (R900 million), with higher zinc concentrate prices and lower treatment charges offsetting lower production as operational flexibility reduced towards the end of its current mine life. AISC increased by 23% to US$2,162/tZn (R35,477/tZn) due to lower production volumes and inflationary cost pressures. 

The Keliber lithium project achieved important milestones during H1 2026 as it progressed from construction towards commissioning and operational readiness. Mining commenced at the Syväjärvi mine, with 217.5kt of ore mined and a strategic stockpile of 185.5kt established. Hot commissioning of the concentrator commenced in April 2026, with continuous operating runs of up to 142 hours demonstrating successful throughput performance. The current focus is on optimising spodumene concentrate grade and achieving stable, consistent concentrate production. The project remains within its approved capital forecast, with cumulative construction expenditure of €719m at 30 June 2026. In response to lithium-market volatility, the staged commissioning approach prioritises stable mining and concentrator performance before refinery start-up, reducing integrated ramp-up risk and preserving capital flexibility.

DISCIPLINED CAPITAL ALLOCATION AND ORGANIC GROWTH FOR SUSTAINABILITY

Our approach to sustainability is broader than just environmental and social performance. It starts with sustaining a safe, competitive and financially resilient business, supported by operational excellence and disciplined investment in longer-life, higher-quality assets. This strengthens our ability to manage resources responsibly, deliver returns and economic value, and create enduring shared value for our shareholders, employees, communities and all other stakeholders.

Record cash generation materially strengthened the balance sheet and expanded financial flexibility. Gross debt declined by 20% year-on-year and 18% from 31 December 2025 to R32.1bn (US$2.0bn), while net debt more than halved to R9.7bn (US$593m), reducing net debt to adjusted EBITDA to 0.18x. 

The Group continued to unlock embedded value through disciplined investment in organic growth. This has primarily considered the SA PGM brownfield project portfolio that benefits from existing infrastructure, established resources and extensive operating knowledge, all reducing execution risk and avoiding acquisition premiums. SA PGM brownfield projects provide a possible pathway to sustain an approximate 1.5Moz annual production profile, increase exposure to UG2 ore and support a greater contribution from mechanised mining. 

In addition, we are pleased that Burnstone and Mt Lyell have recently received a positive investment decision by the Board to proceed, marking a further step in unlocking unrealised value from the Group’s organic project portfolio.

Burnstone supports the transition of the SA gold portfolio towards shallower, lower-risk and longer-life production. The project is expected to produce approximately 130,000oz of gold annually at steady state, strengthening future reserve replacement and portfolio sustainability.

Mt Lyell, the long-life, copper-gold project located near Queenstown, Tasmania, benefits from substantial existing infrastructure and is expected to produce approximately 26kt of copper, 16koz of gold and 116koz of silver annually at steady state, with first production targeted for early 2029. Approximately US$4.1m (R68m) of capital expenditure is planned for H2 2026, as the project moves into execution.

Projects in the Group's portfolio will continue to be evaluated and sequenced according to returns, affordability, readiness and strategic fit, balancing shareholder returns and balance-sheet strength with investment in future production and portfolio quality.

DIVIDEND DECLARATION

The Sibanye-Stillwater board of directors declared and approved a cash dividend of 201 SA cents per ordinary share (US 12.43 cents* per share or US 49.73 cents* per ADR) or approximately R5,685 million (US$352 million*) in respect of the six months ended 30 June 2026 (Interim dividend).

The interim dividend declared of 201 SA cents equates to 35% of normalised earnings for the period ended June 2026. See note 11 of the consolidated interim financial statements for more detail on dividends.

The interim dividend will be subject to the Dividends Withholding Tax. In accordance with paragraph 7.23 of the JSE Listings Requirements the following additional information is disclosed:

• The dividend has been declared out of income reserves
• The local (South African) Dividends Withholding Tax rate is 20% (twenty per centum)
• The gross South African dividend amount is 201.0000 SA cents per ordinary share for shareholders exempt from the Dividends Tax
• The net South African dividend amount is 160.8000 SA cents (80% of 201 SA cents) per ordinary share for shareholders liable to pay the Dividends Withholding Tax
• Sibanye-Stillwater currently has 2,830,567,264 ordinary shares in issue
• Sibanye-Stillwater’s income tax reference number is 9723 182 169

Shareholders are advised of the following dates in respect of the interim dividend:

Interim dividend:                                                 201 SA cents per share

Declaration date:                                                               Tuesday, 1 September 2026

Last date to trade cum dividend:                     Tuesday, 15 September 2026

Shares commence trading ex-dividend:          Wednesday, 16 September 2026

Record date:                                                       Friday, 18 September 2026

Payment of dividend:                                         Monday, 21 September 2026

Please note that share certificates may not be dematerialised or rematerialised between Wednesday, 16 September 2026 and Friday, 18 September 2026 both dates inclusive.

To holders of American Depositary Receipts (ADRs):

• Each ADR represents 4 ordinary shares;
• ADRs trade ex-dividend on the New York Stock Exchange (NYSE): Friday, 18 September 2026;
• ADR Record Friday, 18 September 2026;
• Approximate date of currency conversion: Monday, 21 September 2026;
• ADR payment date of dividend: Wednesday, 6 October 2026

Assuming an exchange rate of R16.17/US$1*, the dividend payable on an ADR is equivalent to 39.78 United States cents per ADR, net of the 20% South African withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion.

* Based on an exchange rate of R16.1687/US$ at 28 August 2026 from Equity RT. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion

This short-form announcement is the responsibility of the board of directors of the Company (Board). The information disclosed is only a summary and does not contain full or complete details. Any investment decisions by investors and/or shareholders should be based on a consideration of the full financial results for the six months ended 30 June 2026 (results booklet) as a whole and shareholders are encouraged to review the results booklet, which is available for viewing on the Company’s website at https://www.sibanyestillwater.com/news-investors/reports/quarterly/2026/ and via the JSE at https://senspdf.jse.co.za/documents/2026/jse/isse/sswe/HY26Result.pdf.

Contact:

Email: ir@sibanyestillwater.com

Website: www.sibanyestillwater.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

DISCLAIMER

FORWARD LOOKING STATEMENTS

The information in this report may contain forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye Stillwater Limited’s (Sibanye-Stillwater or the Group) financial positions, business strategies, business prospects, industry forecasts, production and operational guidance, climate and ESG-related targets and metrics, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors, including those set forth in this report.

All statements other than statements of historical facts included in this report may be forward-looking statements. Forward-looking statements also often use words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “could”, “believe”, “aim”, “anticipate”, “target”, “estimate” and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer. Readers are cautioned not to place undue reliance on such statements. 

The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to differ materially from estimates or projections contained in the forward-looking statements include, without limitation, Sibanye-Stillwater’s future financial position, plans, strategies, objectives, capital expenditures, projected costs and anticipated cost savings, financing plans, debt position and ability to reduce debt leverage; economic, business, political and social conditions in South Africa, Zimbabwe, the United States, Europe and elsewhere; plans and objectives of management for future operations; Sibanye-Stillwater’s ability to obtain the benefits of any streaming arrangements or pipeline financing; the ability of Sibanye-Stillwater to comply with loan and other covenants and restrictions and difficulties in obtaining additional financing or refinancing; Sibanye-Stillwater’s ability to service its bond instruments; changes in assumptions underlying Sibanye-Stillwater’s estimation of its Mineral Resources and Mineral Reserves; any failure of a tailings storage facility; the ability to achieve anticipated efficiencies and other cost savings in connection with, and the ability to successfully integrate, past, ongoing and future acquisitions (including Metallix), as well as at existing operations; the ability of Sibanye-Stillwater to complete any ongoing or future acquisitions; the success of Sibanye-Stillwater’s business strategy and exploration and development activities, including any proposed, anticipated or planned expansions into the battery metals or adjacent sectors and estimations or expectations of enterprise value; the ability of Sibanye-Stillwater to comply with requirements that it operate in ways that provide progressive benefits to affected communities; changes in the market price of gold, silver, PGMs, battery metals (e.g., nickel, lithium, copper and zinc) and the cost of power, petroleum fuels, and oil, among other commodities and supply requirements; the occurrence of hazards associated with underground and surface mining; any downgrade of South Africa’s credit rating; a challenge regarding the title to any of Sibanye-Stillwater’s properties by claimants to land under restitution and other legislation; Sibanye-Stillwater’s ability to implement its strategy and any changes thereto; the outcome of legal challenges to the Group’s mining or other land use rights; the occurrence of labour disputes, disruptions and industrial actions; the availability, terms and deployment of capital or credit; changes in the imposition of industry standards, regulatory costs and relevant government regulations, particularly environmental, sustainability, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretation thereof which may be subject to dispute; the outcome and consequence of any potential or pending litigation or regulatory proceedings, including in relation to any environmental, health or safety issues; failure to meet ethical standards, including actual or alleged instances of fraud, bribery or corruption; the effect of climate change or other extreme weather events on Sibanye-Stillwater’s business; the concentration of all final refining activity and a large portion of Sibanye-Stillwater’s PGM sales from mine production in the United States with one entity; the identification of a material weakness in disclosure and internal controls over financial reporting; the effect of US tax reform legislation on Sibanye-Stillwater and its subsidiaries; the effect of South African Exchange Control Regulations on Sibanye-Stillwater’s financial flexibility; operating in new geographies and regulatory environments where Sibanye-Stillwater has no previous experience; power disruptions, constraints and cost increases; supply chain disruptions and shortages and increases in the price of production inputs; the regional concentration of Sibanye-Stillwater’s operations; fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages or precautionary suspension of operations at its mines for safety or environmental incidents (including natural disasters) and unplanned maintenance; Sibanye-Stillwater’s ability to hire and retain senior management and employees with sufficient technical and/or production skills across its global operations necessary to meet its labour recruitment and retention goals, as well as its ability to achieve sufficient representation of historically disadvantaged South Africans in its management positions, or maintain required board gender diversity; failure of Sibanye-Stillwater’s information technology, communications and systems, evolving cyber threats to Sibanye-Stillwater's operations and the impact of cybersecurity incidents or breaches; the adequacy of Sibanye-Stillwater’s insurance coverage; social unrest, sickness or natural or man-made disaster in surrounding mining communities, including informal settlements in the vicinity of some of Sibanye-Stillwater’s South African-based operations; and the impact of contagious diseases, including global pandemics.

Further details of potential risks and uncertainties affecting Sibanye-Stillwater are described in Sibanye-Stillwater’s filings with the Johannesburg Stock Exchange and the United States Securities and Exchange Commission, including the 2025 Integrated Report and the Annual Financial Report for the fiscal year ended 31 December 2025 on Form 20-F filed with the United States Securities and Exchange Commission on 24 April 2026 (SEC File no. 333-234096).

These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required). These forward-looking statements have not been reviewed or reported on by the Group’s external auditors.

NON-IFRS¹ MEASURES

The information contained in this report may contain certain non-IFRS measures, including, among others, adjusted EBITDA, notional free cash flow, AISC, AIC, net debt/(cash), net debt/(cash) to adjusted EBITDA (ratio), headline earnings and normalised earnings. These measures may not be comparable to similarly-titled measures used by other companies and are not measures of Sibanye-Stillwater’s financial performance under IFRS Accounting Standards. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Sibanye-Stillwater is not providing a reconciliation of the forecast non-IFRS financial information presented in this report because it is unable to provide this reconciliation without unreasonable effort. These forecast non-IFRS financial information measures presented have not been reviewed or reported on by the Group’s external auditors.

¹  IFRS refers to International Financial Reporting Standards Accounting Standards (IFRS Accounting Standards) as issued by the International Accounting Standards Board (IASB)

WEBSITES

References in this document to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in, and does not form part of, this report.

Drillholes ST2606 and ST2607 were the two deepest holes of the program, aiming to drill-test the potential  down-dip continuation of the granodiorite-hosted, quartz-arsenopyrite vein-swarm. Drillhole ST2606 returned the best intercept by grade-width of the entire 7-hole drill program, recording 4.6 m @ 7.2 g/t Au with individual assays up to 20.7 g/t Au over 0.6 m and 21.4 g/t Au over 0.7 m. These recurring high-grade quartz-arsenopyrite veins are hosted within a broad, ~60 m downhole interval of mineralized granodiorite.

Michael Hudson, CEO, states: “These final two holes have delivered the best results of our initial drill program and answered the most important question we set out to test – does the Stavaträsk gold system continue at depth? The answer is yes. ST2606 cut high-grade veins, with 4.6 m @ 7.2 g/t Au, 14.5 g/t Ag from 79.5 m, including 0.6 m @ 20.7 g/t Au, 16.3 g/t Ag, 0.7 m @ 21.4 g/t Au, 29.5 g/t Ag and 0.4 m @ 6.5 g/t Au, 66.4 g/t Ag hosted within a broad 60 m envelope of mineralized granodiorite that we can now trace down-dip from surface. Just as importantly, gold has now been intersected in every one of the seven holes across 650 m of strike, from as shallow as 12 m downhole. With the full data set from the initial program now in hand, we are moving quickly into an IP gradient-array geophysical survey to map the system at scale, ahead of a second drill program.”

Technical Discussion

The Stavaträsk mineralized corridor lies along the regional-scale Vidsel-Röjnoret shear-system. Company mapping and interpretation trace the structural geological corridor for up to approximately 7 km of strike, in which the two distinct styles of mineralization at Stavaträsk are found (see Figure 3). Drillhole ST2606 and ST2607 are located in the southern mineralized zone, and drilled to 260 m, and 212.5 m length respectively, where both were targeting the interpreted down-dip continuation of the mineralized vein-array intersected in drillholes ST2601–ST2603 (see Figure 4; Table 1). 

Drillhole ST2606 returned the best mineralization of the program, where a broad mineralized zone with no lower cut averaged 59.6 m @ 1.1 g/t Au from 48.5 m hosts a series of quartz-arsenopyrite veins. The best intercepts from drillhole ST2606 are:

• 7.0 m @ 2.6 g/t Au, 4.7 g/t Agfrom 46.5 m, including:
  1. 1.0 m @ 15.1 g/t Au, 28.4 g/t Ag
• 4.6 m @ 7.2 g/t Au, 14.5 g/t Agfrom 79.5 m, including 1.9 m @ 15.7 g/t Au, 31.7 g/t Ag, with individual assays of:
  1. 0.6 m @ 20.7 g/t Au, 16.3 g/t Ag
  2. 0.7 m @ 21.4 g/t Au, 29.5 g/t Ag
  3. 0.4 m @ 6.5 g/t Au, 66.4 g/t Ag
• 6.6 m @ 1.3 g/t Au, 1.2 g/t Ag from 102.1 m

A polymetallic interval returned 0.4 m @ 6.5 g/t Au, 66.4 g/t Ag and 1.35% Cu from 80.9 m (Plate 1), further suggesting that poly-metallic zones of mineralization are present in the deposit area, confirming the gold-silver-copper results from previously reported drillhole ST2601 and from surface sampling (see Hannan news release dated June 10 and August 13, 2026).

Drillhole ST2607 was drilled 180 m east of ST2606, testing for depth extension to the strongly-mineralized granodiorite footwall contact as documented in drillhole ST2601 (see Hannan news release dated August 13, 2026). A more discrete zone of quartz-arsenopyrite veining was intercepted, returning

• 3.2 m @ 1.4 g/t Au, 2.2 g/t Ag from 166.2 m, including 0.7 m @ 5.1 g/t Au 

Across the two holes reported here, 358 samples covering 329 m of core were assayed. Of these, 69 samples (19%) returned at or above 0.1 g/t Au, totalling 56.5 m at a length-weighted grade of 1.3 g/t Au.

Stavaträsk Project

Stavaträsk is located in the Skellefteå Mining District of northern Sweden, 20 km north of the Boliden deposit (8.4 Mt at 15.5 g/t Au for approximately 4.2 Moz of historic production; source quoted in Figure 2). The project occupies a strategic position on the Vidsel-Röjnoret Shear System (VRSS), the same regional-scale terrane boundary that hosts Boliden.

Gold, silver and copper mineralization is structurally hosted, with massive to semi-massive arsenopyrite, pyrite and chalcopyrite with silica alteration. Outcrop samples return grades of up to 93 g/t Au and 24 g/t Ag. A boulder field located 650 m southeast of the main outcrop yielded eight samples averaging 3.2 g/t Au (range 0.1 g/t to 11.2 g/t Au), 67 g/t Ag (range 1 g/t to 154 g/t Ag) and 0.83% Cu (range 0.003% to 2.43% Cu) and is surrounded by historic drill collars for which assay data are largely unavailable.

Plate 1: Core sample from ST2606 at 80.9 m showing chalcopyrite, pyrrhotite and arsenopyrite in a quartz shear vein, returning 0.4 m @ 6.5 g/t Au, 66.4 g/t Ag and 1.35% Cu. Core size is NQ2 (diameter 55.6 mm).

Next Steps

With the full data set from the maiden drill program now in hand, Hannan will undertake an induced polarization (IP) gradient-array geophysical survey across the Stavaträsk prospect. The survey is designed to map the sulphide-bearing structures at scale along the 650 m of strike. Results from the drill program are concurrently being incorporated into a 3D geological model to refine the interpreted geometry and down-dip continuity of the granodiorite-hosted vein arrays. Together, the IP and modelling work will define targets for a second drill program of approximately 1,000 m, planned to test both the depth extension of the southern mineralized zone and priority targets generated along strike.

Historical Data and Reporting Notes

Historical data have not been verified by Hannan and are quoted for informational purposes only. It is believed that the primary analysis for gold was completed by fire assay with atomic absorption finish.  Compilation of available data and 3D geologic modelling are in progress. 

The true thickness of the mineralized intervals reported here is not known at this stage.

Composite drill hole intervals have been calculated using a 0.5 g/t Au cut-off with a maximum 2 m internal dilution; higher-grade sub-intervals are reported at a 3.0 g/t Au cut-off with a maximum 2 m internal dilution. The 59.6 m interval reported for ST2606 is calculated with no lower cut.

Corporate

Hannan further announces that Katty Vargas has resigned as a Director of the Company and as General Manager, Peru, effective August 31, 2026. The Board thanks Ms. Vargas for her many contributions to Hannan and wishes her success in her future endeavours.

Sweden: A Tier-One European Mining Jurisdiction

Sweden is positioning itself as the cornerstone of Europe's domestic mineral supply under the EU Critical Raw Materials Act. The efficiency of its permitting regime is demonstrated firsthand at Stavaträsk, where a drill permit was secured in four weeks. The country consistently ranks among the world's most attractive mining jurisdictions in the Fraser Institute's Annual Survey of Mining Companies, offering stable policy, established infrastructure, low-cost hydropower and a skilled workforce. The district also supports near year-round drilling: an established forestry road network enables access through the summer, while winter snow cover allows rigs to move broadly across the terrain, with only a short shoulder season during the spring thaw.

Sampling, Analytical Methods and Quality Control

Whole drill core was logged and photographed by Company personnel and securely transported to MSALABS (MSA Analytical Services), an ISO/IEC 17025-accredited laboratory, at its facility in Storuman, Sweden, where the core was cut, sampled and prepared for analysis. The sample pulps were shipped to the MSALABS facility in Canada for analysis. Gold was determined on a 30 g charge by lead-collection fire assay fusion with an atomic absorption finish (method FAS-114), with high-grade samples re-assayed on a 30 g charge by fire assay with a gravimetric finish (method FAS-415). Multi-element analysis, including silver and copper, was carried out on a 0.25 g aliquot by four-acid digestion with ultra-trace ICP-ES/MS determination of 48 elements (method IMS-230); over-limit arsenic was determined by an ore-grade four-acid digestion with an ICP-ES finish (method ICF-6As). As part of its quality assurance and quality control program, the Company inserted certified reference materials at approximately one in fifteen samples and field duplicates at approximately one in fifty, and the laboratory operated its own internal program of blanks, standards and duplicates. The Qualified Person has reviewed the quality-control results and is satisfied that the assay data are reliable for the purposes of this disclosure.

About Hannan Metals Limited (TSXV:HAN) (OTCPK: HANNF)

Hannan Metals Limited is an exploration company with a primary focus on advancing its Previsto gold-copper prospect (Amanecer project) in Peru, and an option to earn 100% in three high-grade gold projects in Sweden. Over the last decade, the team behind Hannan has forged a long and successful record of discovering, financing, and advancing mineral projects in Australia, Europe and South America.

Mr. Michael Hudson FAusIMM, Hannan’s Chairman and CEO, a Qualified Person as defined in National Instrument 43-101, has prepared, reviewed, verified and approved the technical contents of this news release.

Further Information

Further discussion and analysis of the project is available through the Hannan Metals website at www.hannanmetals.com and the Hannan YouTube channel at www.youtube.com/@HannanMetals 

Forward Looking Statements. Certain disclosure contained in this news release may constitute forward-looking information or forward-looking statements, within the meaning of Canadian securities laws. These statements may relate to this news release and other matters identified in the Company’s public filings. In making the forward-looking statements the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These risks and uncertainties include but are not limited to: the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; planned work programs; permitting; and community relations. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Cautionary Note Regarding Deposit Comparisons and Surface Sampling. References in this news release to the Boliden deposit are provided as geological deposit-type and exploration-targeting analogues only. Mineralization hosted on adjacent or nearby properties, including the Boliden deposit, is not necessarily indicative of mineralization on the Company’s properties, and these comparisons are not a prediction of the scale, grade, tonnage or economic potential of the Stavaträsk project. Historic production figures for the Boliden deposit are derived from third-party sources that the Company has not independently verified. Rock chip, grab and boulder (float) sample results referred to in this news release are selective by nature, are collected to identify the presence or tenor of mineralization, and are not necessarily representative of the grade or style of mineralization across the property. Historic drilling at Stavaträsk was completed by third parties and recoverable assay and collar data are largely unavailable; such historic results have not been verified by a Qualified Person and should not be relied upon. The Stavaträsk, Skellefteå North and Ådelfors projects do not have any mineral resource or mineral reserve estimates prepared in accordance with National Instrument 43-101, and there is no certainty that exploration will result in the delineation of any mineral resource.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news.

Figure 1: Map of Sweden (green) showing locations of properties Stavaträsk, Skellefteå North and Ådelfors

Figure 2: Geology map of the Skellefteå mineral belt, showing locations of major mining operations relative to the Stavaträsk and Skellefteå North properties. 

Figure 3: Plan view of the Stavaträsk project showing surface geochemistry and drilling results reported here from ST2606 and ST2607 across 650 m strike.

Figure 4: Section A-B looking north across drillholes ST2601, ST2606, ST2607 showing results reported here from ST2606 and ST2607. Width of intrusive is approximately 65 m.

Table 1:  Drill collar summary table.

Table 2: Summary of Significant Assay Results (ST2606 – ST2607). Reported lengths are downhole (core) lengths; the true thickness of the mineralized intervals is not yet known. 

Composite intervals @ 0.5 g/t cut-off, max 2 m waste:

High-grade sub-intervals @ 3 g/t:

Table 3: All individual assays from ST2606 and ST2607 grading ≥0.1 g/t Au. Gold is reported to two decimal places, other assays are reported to one decimal place and sample intervals to two decimal places.

Highlights:

• Rio Tinto has taken an initial ~5% interest in Mogotes through a C$21,271,500 placement priced at C$0.70 per Unit.
• Each Unit includes one-half of a Warrant – 15,193,928 Warrants in aggregate – exercisable at C$1.00 for 18 months, representing potential additional proceeds to the Company of up to approximately C$15,193,928.
• Proceeds of the Placement will be used to advance work programs at the Filo Sur project.
• Rio Tinto and Mogotes have entered into definitive long-form agreements, including a subscription agreement, an investor rights agreement and an exclusivity agreement, establishing a Strategic & Technical Alliance covering Filo Sur.
• Rio Tinto has received a 15-month period of exclusivity with respect to the Filo Sur project, extendable by mutual agreement for a further 6 (six) months. During the exclusivity period, Rio Tinto also has a right to match third-party proposals involving the Filo Sur project or the subsidiaries that hold the Filo Sur project.
• Rio Tinto has a top-up right entitling it to acquire up to 9.99% of the Common Shares on a partially diluted basis at any time during the exclusivity period. The top-up right will be exercisable at a price per share equal to the greater of the 20-day volume weighted average trading price and a 20% premium to the closing price on the last trading day prior to exercise, in each case subject to TSXV approval. Rio Tinto has also been granted customary pre-emptive rights to participate in future securities offerings of Mogotes in order to maintain its proportionate ownership during the exclusivity period. 

Strategic & Technical Alliance - Filo Sur Project and Beyond

The Alliance combines Mogotes’ on-the-ground exploration team and district knowledge with Rio Tinto’s global technical capability in order to seek to accelerate discovery in one of the most prospective copper-gold-silver belts in the world. Key elements of the Alliance include:

• Formation of a joint technical committee to advise the exploration program at Filo Sur, drawing on Rio Tinto’s multi-decade track record of porphyry discovery and development.
• Application of Rio Tinto’s cutting-edge proprietary geoscience tools - including advanced geochemistry, geophysics and targeting workflows - across the Filo Sur project.
• Joint efforts to expand the consolidated land position in targeted prospective areas in support of the Filo Sur Project.
• With the definitive Filo Sur documentation now completed, the parties intend to explore extending the Alliance concept to additional highly prospective mineral belts identified by the parties, including in Kazakhstan.

CEO, Allen Sabet, commented: “The completion of Rio Tinto’s strategic investment in Mogotes is a powerful endorsement of the prospectivity of Filo Sur and the broader Vicuña district. The Alliance gives our team access to one of the deepest exploration capabilities in the industry while preserving Mogotes’ ability to deliver value to all shareholders.”

The Placement has received all necessary regulatory and other approvals, including the conditional approval of the TSX Venture Exchange (the “TSXV”). In connection with the Placement, Rio Tinto has also agreed to customary standstill restrictions applicable during the exclusivity period. All securities issued under the Placement are subject to a statutory hold period expiring four months and one day from the date of closing in accordance with applicable Canadian securities laws.

The Company has a number of investors with existing pre-emptive rights (“Pre-emptive Rights”). Concurrently with the closing of the Placement, and in connection with the exercise of the Pre-emptive Rights, the Company issued an additional 7,970,945 Units at the Offering Price for additional gross proceeds of C$5,579,661.50. 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact: 

Mogotes Metals Inc.
 Allen Sabet, President and Chief Executive Officer
 Phone: (647) 846-3313
 Email:  info@mogotesmetals.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Cautionary Note Regarding Forward-Looking Information:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements.  Such forward-looking information includes statements relating to the Company’s intended use of the net proceeds of the Placement; the activities of the Alliance, including plans to expand the Company’s consolidated land position across the broader Vicuña district and the potential negotiation of a data sharing agreement in respect of prospective targets in Kazakhstan. These statements are only predictions. Forward-looking information is subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects on the Company. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis filed under the Company’s issuer profile on SEDAR+. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.  

Follow Us

Twitter: https://x.com/mogotesmetals 

Alex Langer, Chief Executive Officer, commented, “Q2 was a very productive quarter for Sierra Madre with $8.23 million in net revenues and $1.58 million in gross profit from La Guitarra, as we made significant progress on the expansion, continued the ramp up of the Coloso and Nazareno mines and added equipment and staff to support increased production. During the search for the required mill for Phase I, the Company located and purchased a larger-than-planned mill, with the expectation that it would meet the milling requirements for both phases of the expansion. While the additional foundation and electrical work for the larger mill, along with certain shipping delays for other components of the Phase I expansion extended the completion of Phase I by several weeks, we continue to expect Phase II commissioning prior to the end of Q3 2027. Throughput levels have reached up to 672 tonnes per day so far in August. In June, we also closed the acquisition of a second substantially production-ready asset, the Del Toro silver mine in Zacatecas State, building on our Mexico production-focused platform. We closed out the quarter with US$25 million in working capital and near-term catalysts, including completion of the Phase I expansion and the commencement of East District drilling at La Guitarra.”

Q2 2026 Highlights 

• Revenues: Silver revenues for the quarter totalled $5.0 million ($75.65 per ounce) and gold revenues totalled $4.3 million ($4,529 per ounce). Silver revenues for the quarter ended June 30, 2025 (“Q2 2025”), totalled $2.2 million ($33.36 per ounce) and gold revenues totalled $3.6 million ($3,272 per ounce).
• Adjusted EBITDA of $3.5 million for the six months ended June 30, 2026 (“H1 2026”) compares to $2.6 million for the six months ended June 30, 2025 (“H1 2025”).  
• Gross Profit was $1.58 million for Q2 2026, as compared to $1.69 million for Q2 2025.
• Cash from Operations: the Company generated $1.89 million of cash from operating activities in H1 2026 as compared to $1.37 million in H1 2025.
• Cash and Cash Equivalents at June 30, 2026 totalled $22.2 million, with $25.0 million in working capital, compared to $13.2 million and $14.4 million at March 31, 2026, respectively.
• Daily Production is now reaching up to 672 tonnes per day (“tpd”), a 34% increase over the previous level of 500 tpd.  
• Del Toro Acquisition: Following shareholder approval (April 28, 2026 news release) and Mexican Antitrust approval (announced May 22, 2026), the Company closed the acquisition of a 100% interest in the Del Toro silver mine, as announced on June 22, 2026. With this acquisition, Sierra Madre completed a concurrent financing for gross proceeds of CAD$57.5 million.
• Geologic mapping and sampling have started at Del Toro with a re-evaluation of surveys underway and drilling expected to start in mid-2027.
• East District Exploration: Following quarter-end, as released on July 14, 2026, Sierra Madre received approval to start drilling in the East District of the Guitarra complex. Target definition work is underway with drilling bids in hand for a long-hole sub-horizontal drill program planned from the Tlacotal property (a permitted area designated for mining). Drilling is expected to start in H2 2026.  
• First Majestic Loan Repayment: As announced on July 8, 2026, the Company has fully repaid the US$5 million non-revolving, secured term loan with First Majestic Silver. 

Detailed Q2 2026 production statistics are shown in Table 1 below.

Table 1: Q2 2026 and Q2 2025 Production Metrics

1. AgEq ounces produced have been determined using a ratio of 77.27 Au:Ag for all periods based upon the ratio used in the 2023 technical report titled “NI 43-101 La Guitarra Technical Report, La Guitarra Mineral Resource Estimate, Guitarra Silver-Gold Project”.
2. AgEq ounces sold have been determined using the actual Ag and Au prices obtained during the quarter. The determined ratio used was 60.22 Au:Ag for Q2 2026 and 98.43 Au:Ag for Q2 2025.
3. The Company reports non-GAAP measures, which include Cash Cost of Production per Tonne, Cash Cost per AgEq ounce produced, All-in Sustaining Cash Cost per AgEq ounce produced and Average Realized Price per AgEq ounce sold, Adjusted EBITDA, and working capital. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions. See “Non-GAAP and Other Financial Measures” section below for definitions and reconciliations to GAAP measures.
4. Grammes per tonne (“gpt”)

Operational Details

• Production: Ahead of the Phase I and II expansion plans, Sierra Madre selected a contractor to ramp up production from the higher-grade Coloso and Nazareno mines; contractor operations started mid-June. Sierra Madre miners and equipment are now focused on accelerating production at the Guitarra mine.
• Costs: The Q2 2026 cash costs were negatively impacted by the ramp up and development work at Coloso and Nazareno, leading to a significant share of production being sourced from development drives and out-of-resource, lower grade mineralization.  While adding to top-line revenues, increased commodity prices also add to our cash costs through increased royalty payments and taxes.   The strengthening Mexican peso against the US dollar, inflation impacts on inputs, and rising worker pay rates also affected costs.
• Recoveries: Gold and silver recoveries declined as the ongoing development work opened new mining areas and resulted in a blend of feed from three mining centres. Sierra Madre has built a metallurgical lab at the site to optimize the blending protocol.
• Power Generation: In Q2 2026, power outages continued due to weather incidents, increasing costs. Sierra Madre acquired a 1,250-kilowatt (“kW”) back-up diesel generator for Coloso and Nazareno (installation is underway), plus two 1,500-kW back-up diesel generators for the plant. Installation of the two Guitarra generators was completed mid-August 2026 and are expected to be fully operational in September.
• Equipment: The transfer of a narrow-profile Muki jumbo drill to the Guitarra mine is expected to support development and production of narrower and higher-grade veins in the San Raphael area and of the Juliet vein. Following quarter end, the rebuild of a 0.5-yard scoop tram has reduced dilution and mining costs for the Juliet vein.
• Sierra Madre also purchased two haul trucks in April, to replace rental units used in the tailings buttress program and for Coloso haulage, which are expected to lead to cost reductions. Two scoops were also acquired to support increased mining rates with the expansion.  
• Coloso and Nazareno: Mining restarted at the higher-grade Coloso underground mine at the end of Q1 2025 (estimated resource grades at Coloso are significantly higher in both silver and gold compared to the Guitarra mine veins[1]). In September 2025, Sierra Madre also announced the restart of mining at the Nazareno mine.
• At Coloso, dewatering of the lower levels has been accelerated and production from resource blocks below the existing workings is expected to start in the second half of 2026. Nazareno began full production from long-hole stopes on the 180 level in late April 2026.   

Expansion Progress

• As announced on September 8, 2025, the Company has initiated a plan to expand production capacity at Guitarra in a two-phase program with the first phase aimed at increasing the nameplate capacity of the mill from 500 tpd to a range of 750-800 tpd.  The second phase is anticipated to be completed by Q3 2027, with the aim of increasing the capacity to a range of 1,200-1,500 tpd at Guitarra.
• With the larger-than-planned mill purchased for Phase I, additional foundation and electrical work was required – Sierra Madre now anticipates achieving Phase 1 production capacity before the end of Q3 2026. The purchase of this larger mill has moved the completion of this aspect of the Phase II expansion ahead of schedule.
• Since the end of Q2 2026, foundation work has been completed for the ball mill, support equipment, and building enclosure, with an overhead crane installed.
• Modifications to the existing mill and the installation of larger capacity pumps resulted in an increased total mill throughput capacity: daily production is now reaching up to 672 tpd, a 34% increase over the previous level of 500 tpd.  
• Refurbishment of the used ball mill, purchased in December 2025, was completed at the end of Q1 2026, increasing its rated milling capacity to 900 tpd.
• A standard head crusher, purchased in Q4 2025, started full operation in April 2026 (two months ahead of schedule). Together with modifications to the primary crusher, this addition is expected to allow the circuit to surpass the Phase I objective of 750-800 tpd.
• Thickener tank construction was completed in mid-August 2026, with testing of the mechanical and electrical circuits underway – the thickener is expected to be functional by the end of September. Shipping delays pushed back completion from the original late June 2026 estimate.
• The thickener is designed to thicken tailings to ±60% solids, allowing a significant portion of the tailings to be pumped directly to open stopes below the main San Raphael mine level, using existing tailings pumping equipment.   
• Sierra Madre has also chosen to proceed with the construction of the new permitted dry stack tailings storage facility. Site clearing is expected to start in October. Construction of a filter plant and a second thickener will also be needed for the Phase II expansion. 

Outlook 

• Sierra Madre continues to fine tune site mining and milling, ramp up the Coloso and Nazareno mines, and expand staffing ahead of the anticipated Phase I & II expansion production increases. New mining faces continue to be accessed with the additional equipment being introduced to the operation.
• The Company also expects increased production from the recent re-start of operations at Coloso and Nazareno as the mine development proceeds, de-watering continues, and progress is made towards the higher-grade areas.  
• With the first phase of the Guitarra expansion expected to be completed by the end of September, Sierra Madre expects to see higher production starting in Q3 2026, with an accompanying reduction in costs. 

Quarterly Financial Overview

Selected financial information set out below is based on and derives from the unaudited condensed consolidated interim financial statements of the Company for each of the quarters listed, which have been prepared in accordance with IFRS, as applicable to quarterly reporting:

This news release should be read in conjunction with the Company´s condensed consolidated interim financial statements for the quarter ended June 30, 2026 and associated Management Discussion and Analysis ("MD&A"), both of which are available on SEDAR+ (www.sedarplus.ca) and on the Company´s website (www.sierramadregoldandsilver.com).

The Company reports non-GAAP measures, which include Cash Cost of Production per Tonne, Cash Cost per AgEq ounce produced, All-in Sustaining Cash Cost per AgEq ounce produced and Average Realized Price per AgEq ounce sold, Adjusted EBITDA, and working capital. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning and may differ from methods used by other companies with similar descriptions. See “Non-GAAP and Other Financial Measures” section of the Company’s Q2 2026 MD&A for definitions and reconciliations to GAAP measures.

Qualified Person 

Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.

About Sierra Madre

Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals producer and exploration company focused on the operation, exploration, and development at its Guitarra mine complex in the Temascaltepec mining district, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025.

In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio.

The Company also holds the +2,600 ha Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.

Sierra Madre´s management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre´s team of professionals has collectively raised over $1 billion for mining companies.

On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,

"Alexander Langer"
 Alexander Langer
 President, Chief Executive Officer and Director
 778-820-1189

Contact:
 investor@sierramadregoldandsilver.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Cautionary Note Regarding Production Decisions 

The Company´s decision to place the mine into commercial production, expand a mine, make other production related decisions, or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations and the results of test mining and processing.   The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from the Guitarra Mine Complex, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.

Cautionary Note Regarding Forward-Looking Information 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, without limitation, statements regarding discussions of future plans, including the expected timing of concentrate shipments; the Company increasing production; the Company receiving revenues on a weekly basis and such revenues allowing the Company to comfortably expand to without further capital needs; production and the expected timing and production levels thereof.

The forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that predicted production levels will be achieved and that existing production levels will be maintained. 

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its future plans as intended, that predicted production levels will be achieved and that existing production levels will be maintained.

Although management of the Company has attempted identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

SOURCE: Sierra Madre Gold and Silver Ltd.

[1] A copy of the 2023 NI 43-101 report, prepared by TechSer Mining Consultants Ltd. ("TechSer") of Vancouver B.C., by David Thomas, P.Geo. and QP Geology and Cristian Garcia, P.Eng. and QP Mining, titled "La Guitarra Mineral Resource Estimate Guitarra Silver-Gold Project, Temascaltepec, Estado de México, México" with an effective date of October 24, 2023, is available on SEDAR+ and the company´s website at sierramadregoldandsilver.com/presentations/NI-43-101-La-Guitarra-Mineral-Resource-Estimate.pdf

Trading statement for H1 2026 

In terms of paragraph 6.26 of the Listing Requirements of the JSE Limited (JSE), a company listed on the JSE is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the current period to be reported on will differ by at least 20% from the financial results for the previous corresponding period.

Accordingly, stakeholders are advised that Sibanye-Stillwater expects HEPS of between 571 SA cents (34.8 US cents) and 631 SA cents (38.4 US cents) for H1 2026, an increase of more than 200% from 190 SA cents (10.3 US cents) for the six months ended 30 June 2025 (H1 2025). EPS are expected to range between 597 SA cents (36.3 US cents) and 658 SA cents (40.1 US cents), improving by more than 560% from a loss per share of 127 SA cents (6.9 US cents) for H1 2025.

The substantial improvement in earnings reflects stable operational delivery, stronger commodity prices and improved margins. Revenue less cost of sales before amortisation and depreciation for H1 2026 is expected to more than double compared with H1 2025, demonstrating the significant earnings leverage across the portfolio.

The year-on-year comparison is impacted by historical Section 45X credits recognised in H1 2025, which reduced cost of sales before amortisation and depreciation in the comparative period. H1 2025 included R5.1 billion (US$285 million) of Section 45X credits, of which approximately R4.4 billion (US$249 million) related to the cumulative recognition of credits for 2023 and 2024. Excluding Section 45X credits from both periods, the underlying improvement in profitability is even more pronounced.

The substantial increases in HEPS and EPS for H1 2026 compared with H1 2025 are primarily attributable to:

• record financial performance from the SA gold operations (including DRDGOLD), with a 35% increase in the average rand gold price received and a 5% increase in gold sold, more than offsetting lower production and higher costs
• a substantial increase in profitability from the SA PGM operations, with a 67% increase in the average rand 4E PGM basket price received and a 12% increase in PGM sales at consistent production levels
• improved underlying profitability from the US PGM operations, supported by a 70% increase in the average US dollar 2E PGM basket price received
• a standout underlying performance from the Recycling operations, supported by improved profitability at the Pennsylvania (PA) site and the inclusion and successful integration of the North Carolina (NC) site since its acquisition on 4 September 2025
• a significant reduction in impairment charges compared with the R9.7 billion recognised in H1 2025
• an increased share of results from equity-accounted investees, reflecting improved profitability at Mimosa due to higher commodity prices

These positive impacts were partially offset by:

• higher royalties and mining and income taxes associated with the increased profitability arising from the stronger commodity prices

The conversion of rand amounts into US dollars is based on average exchange rates of R16.41/US$ for H1 2026 and R18.39/US$ for H1 2025. US dollar information is provided as supplementary information only.

The financial information on which this Trading statement is based has not been reviewed or reported on by Sibanye-Stillwater’s external auditors.

Operational update for H1 2026 

The Group delivered a strong operational and financial performance during H1 2026. Consistent operational delivery and stronger commodity prices translated into significantly higher profitability, improved margins and strong cash generation. Unless otherwise stated, all comparisons are with H1 2025. The operational and financial information set out below is based on unaudited management accounts for the six months ended 30 June 2026 and remains subject to finalisation.

• The SA gold operations achieved record financial performance, with adjusted EBITDA increasing by approximately 85%. A 35% increase in the average gold price received and a 5% increase in gold sold more than offset lower production and higher costs, resulting in substantially improved margins. Production, including DRDGOLD, decreased by 2% to 9,134kg (293,665oz). Planned production rebasing at Kloof and operational challenges at Beatrix were partly offset by a 13% increase in surface production, including a 10% increase at DRDGOLD to 2,502kg (80,441oz). All-in sustaining costs (AISC) increased by 14% to R1,638,089/kg (US$3,105/oz), reflecting inflation, higher royalties, increased pumping costs at Driefontein, costs to restore operational flexibility at Beatrix and higher third-party material purchase costs at Cooke. Surface production accounted for 36% of total gold produced in H1 2026
• Adjusted EBITDA from the SA PGM operations increased by approximately 300%, demonstrating the substantial earnings leverage from consistent production, a 67% increase in the average PGM basket price and a 12% increase in PGM sales. Production of 831,307 4Eoz, including attributable production from Mimosa and third-party purchase of concentrate (PoC), was broadly in line with the prior period. Stable underground production and higher recovery grades partly offset lower surface production and reduced output from Mimosa. AISC at the managed operations, excluding third-party PoC, increased by 10% to R26,252/4Eoz (US$1,600/4Eoz), primarily due to higher royalties associated with the stronger PGM basket price and inflationary input-cost pressures, but remained approximately 1% below the lower end of annual guidance
• The US PGM operations produced 137,930 2Eoz, 2% lower, primarily due to lower grades at East Boulder and labour constraints. A 70% increase in the average PGM basket price supported profitability and materially improved underlying earnings. Reported adjusted EBITDA decreased by 56%, reflecting the non-recurrence of US$139 million of retrospective Section 45X credits relating to 2023 and 2024 that were recognised in H1 2025. AISC increased by 12% to US$1,347/2Eoz (R22,105/2Eoz), mainly reflecting planned increases in ore-reserve development and sustaining capital associated with the transition to mechanised mining, together with lower production, inflation and higher royalties and property taxes. Importantly, AISC remained below the lower end of annual guidance
• The Recycling operations delivered a standout performance, with adjusted EBITDA increasing by approximately 10% despite the non-recurrence of US$109 million of retrospective Section 45X credits relating to 2023 and 2024 that were recognised in H1 2025. Precious metal ounces recycled and sold increased by 142% to 2.79 million ounces. The strong underlying improvement reflects favourable precious metal prices, higher margin feed streams, increased scale, stronger production at the Pennsylvania site, feed-mix optimisation and the successful integration of the North Carolina site, with operational and commercial synergies being realised across the integrated platform
• The Century zinc retreatment operation produced 45kt of payable zinc, compared with 51kt in H1 2025, due to lower grades, adverse weather conditions and scheduled maintenance. AISC increased by 23% to US$2,162/tZn (R35,477/tZn), primarily reflecting lower production volumes and inflationary cost pressures. A higher equivalent zinc concentrate price more than offset lower production and higher unit costs, with adjusted EBITDA increasing by approximately 50%. Century remained profitable and cash generative as the current tailings retreatment operation approaches the end of its operating life
• At the Keliber lithium project, development progressed from construction to commissioning. Mining commenced at the Syväjärvi open pit, with 217.5kt of ore extracted, and hot commissioning of the concentrator began during the period. Continuous operating runs of up to 142 hours have been achieved to date, marking tangible progress towards stable mining and concentrator operations ahead of the potential refinery start-up

 H1 2026 Results webcast and conference call on 1 September 2026

Sibanye-Stillwater will release its full results for the six months ended 30 June 2026 on Tuesday, 1 September 2026 and will host a live presentation shared via a webcast (Webcast link H1 2026 Results) and conference call (Registration link for conference call ) at 13h00 (CAT) / 12h00 (GMT) / 07h00 (EST) / 05h00 (MT). The results will be made available an hour before the presentation at 12h00 (CAT) / 11h00 (GMT) / 06h00 (EST) / 04h00 (MT) on the Group’s website at

https://https://www.sibanyestillwater.com/news-investors/reports/quarterly/2026/investors/reports/quarterly/2026/.

Note:  4E refers to platinum, palladium, rhodium and gold; 2E refers to platinum and palladium; and 3E refers to platinum, palladium and rhodium.

About Sibanye-Stillwater

Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of a suite of metals and has interests in leading secondary mining operations. 

Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum, palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel, chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. For more information, see www.sibanyestillwater.com.

Investor relations contact:

Email: ir@sibanyestillwater.com

Website: www.sibanyestillwater.com

LinkedIn: https://www.linkedin.com/company/sibanye-stillwater

Facebook: https://www.facebook.com/SibanyeStillwater

YouTube: https://www.youtube.com/@sibanyestillwater/videos

X: https://twitter.com/SIBSTILL

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

DISCLAIMER

Forward looking statements

This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words such as “will”, “would”, “expect”, “forecast”, “potential”, “may”, “ could”, “believe”, “aim”, “anticipate”, “intend”, “target”, “estimate” and words of similar meaning.

Any forward-looking statement contained in this announcement has not been reviewed or reported on by Sibanye-Stillwaters’ external auditors.

Non-IFRS¹ measures

The information contained in this report may contain certain non-IFRS measures, including, among others, adjusted EBITDA, AISC and headline earnings. These measures may not be comparable to similarly-titled measures used by other companies and are not measures of Sibanye-Stillwater’s financial performance under IFRS Accounting Standards. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Sibanye-Stillwater is not providing a reconciliation of the forecast non-IFRS financial information presented in this report because it is unable to provide this reconciliation without unreasonable effort. These forecast non-IFRS financial information measures presented have not been reviewed or reported on by the Group’s external auditors.

¹  IFRS refers to International Financial Reporting Standards Accounting Standards (IFRS Accounting Standards) as issued by the International Accounting Standards Board (IASB)

Websites

References in this announcement to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in, and does not form part of, this announcement.

Sean Roosen, Chairman and CEO, commented: "We thank Alex for his significant contributions and leadership over the past five years. He was instrumental in guiding the Company through an important period and ensuring it enters its next phase of growth from a position of financial strength. On behalf of the Board of Directors and our entire team, I extend our sincere appreciation to Alex for his exemplary service and wish him all the best in his well-earned retirement. Elijah joins the Company at a pivotal time and inherits a robust balance sheet. We believe his experience and capabilities will help maintain the financial discipline required to execute our growth strategy and deliver long-term value for all shareholders."

Reflecting on his tenure, Mr. Dann commented: "Serving as CFO of Osisko Gold has been a privilege, and I am grateful to have worked alongside such a talented team. The Company is well-positioned for continued success, and I am confident the team will carry that momentum forward."

Elijah Tyshynski Biography

Mr. Tyshynski joins Osisko Gold from ATEX Resources Inc. where he served as Chief Financial Officer and Corporate Secretary from 2025 following the sale of O3 Mining to Agnico Eagle Mines ("Agnico"). During his time with O3 Mining, he acted as Chief Financial Officer and Corporate Secretary and oversaw financial and regulatory reporting, financings, implementation of internal policies and processes, and the eventual transaction with Agnico. Prior to, and during his time with O3 Mining, Mr. Tyshynski worked with Osisko Mining as the Director of Strategic Development, along with providing capital markets and strategic advice to other companies within the Osisko Group. Mr. Tyshynski background includes extensive infrastructure financing and structuring experience across developed and emerging markets, including at the sovereign and supranational levels, having held the position of Senior Portfolio Manager at Ontario Teachers Pension Plan, Head of Trading for the Standard Bank of South Africa in Johannesburg, and Vice President of Emerging Market Trading for both Morgan Stanley and Royal Bank of Canada in London, England.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements relate to, among other things: the anticipated retirement of Mr. Dann and his continued service during the transition period; the timing and completion of the planned leadership transition; the appointment of Mr. Tyshynski as CFO and his joining the Company’s senior leadership team; the anticipated benefits of the leadership transition and Mr. Tyshynski’s experience and capabilities; and the Company’s ability to maintain financial discipline, execute its growth strategy and deliver long-term value for shareholders; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and prospectivity of its properties. Forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including: the leadership transition proceeding on the anticipated terms and timeline; Mr. Dann remaining available to support an orderly handover of responsibilities; Mr. Tyshynski joining the Company and assuming the role of CFO as contemplated; the continuity and effective operation of the Company’s finance function throughout the transition; the Company continuing to have access to sufficient financial, managerial and other resources to execute its growth strategy; the absence of material adverse changes affecting the Company’s business, financial position or operations as a result of the leadership transition; the ability to develop the Cariboo Gold Project and its status as being fully permitted; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. These assumptions include, but are not limited to: the absence of any work stoppages or suspensions at the Company's projects; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies and infrastructure; and general economic and market conditions. Actual results could differ materially due to a number of factors, including, without limitation: delays or changes in the anticipated timing or implementation of the leadership transition; the inability to complete an orderly and effective handover of responsibilities; disruption to the Company’s finance function, financial reporting, internal controls, treasury or financing activities; challenges associated with leadership succession and the integration of a new CFO; the Company’s inability to maintain financial discipline or execute its growth strategy as contemplated; adverse changes in the Company’s business, financial position, operating environment or access to capital; risks related to the exploration, development and operation of the Cariboo Gold Project; changes in estimated project costs, development timeline, or construction schedule; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements 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 statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Farhad Abasov, Millennial’s Chair, commented “Millennial is excited to announce another highly successful drill result at the Banio Potash Project. Results of this drillhole are significant in many ways: 

1) Drillhole BA-006 was the first hole drilled near the newly acquired permit area closer to the coast, southwest of the previous drillholes. 

2) The drillhole has once again confirmed a significant section of interbedded carnallitite and halite including numerous thick carnallitite potash seams totalling approximately 80m of cumulative potash mineralization. 

3) This new drillhole significantly expands the known potash footprint to the southwest of the current Mineral Resource Estimate (“MRE”) area. 

4) This is a strategic area for the Company as it is closer to the coast and closer to the planned deep-water port site. 

5) It is important to note that this drillhole intersected Cycles IX and X which had not been previously seen at the project suggesting potential additional  potash seams to the west. 

6) The mineralization is open at depth which indicates we have even more resource expansion potential. We look forward to completing the detailed logging and sampling of these potash horizons and receiving their analytical results. Once all drill data has been interpreted and compiled, an updated MRE will be completed to form a key foundation for the ongoing Definitive Feasibility Study (“DFS”).  The DFS  remains on track for completion by the end of 2026.”

Drillhole BA-006 is collared approximately 4km west of drillhole BA-001 and was designed to test the westward extension of potash mineralization encountered in drillholes BA-001, and the southward extension from BA-002 (See Figure 1).  Preliminary logging of BA-006 indicates that approximately 6 evaporite cycles (Cycles V to X) have been intersected with potash mineralization intersected in each cycle.  It is important to note that BA-006 intersected Cycles IX and X which had not previously been encountered at the project which suggests the thickness of potash mineralization may be increasing to the west.  It is also important that the termination of BA-006 in Cycle V in potash mineralization was due to reaching the depth capabilities of the drill rig and the mineralization remains open at depth as Cycles IV and III have been encountered in BA-002 and BA-001.  

Review of the drill core from BA-006 shows prominent horizontal bedding planes dominated by interbedded halite and carnallite (see Photos 1 and 2 below).  An estimate of the cumulative thickness of the main carnallitite seams from the preliminary logging totals approximately 80m.  Detailed core logging and final interpretation of evaporite cycle and seam identification, as well as downhole geophysical logging, are ongoing. Core preparation and sampling will be completed over the next several weeks and samples submitted to the Saskatchewan Research Council for analyses. 

Figure 1: Location of BA-006 and planned drillholes with the 2025 MRE outline.

The objectives of the Phase 2 program were to evaluate the presence of potash-rich horizons at depth and laterally and to provide geological data on the continuity and characteristics of the potash mineralization beyond the current MRE completed in 2025. Identification of additional potash horizons outlined in BA-006 has extended the known potash mineralization southwest and could potentially add tonnage to the project’s calculated resources which are currently comprised of a Measured MRE of 648.2M tonnes grading 15.7% KCl, an Indicated MRE of 1.8B tonnes grading 15.6% KCl, and an Inferred MRE of 3.56B tonnes grading 15.6% KCl (see press releases dated Dec. 29, 2025 and November 17, 2025). The geological data from BA-006 will be included in an updated MRE planned for completion by the end of 2026 as part of completion of the Definitive Feasibility Study mentioned above.

Photo 1: Red Carnallite-rich core from BA_006 showing interbedded banded and Carnallite with banded Halite at approx. 491.3m to 4495.3m depth

Photo 2: Red Carnallite-rich core from BA-006- with interbedded Carnallite and bedded Halite at approx. 662.3m to 665.3m depth

The Company has also engaged Micon International, in partnership with Zenito Ltd. and Agapito Associates LLC, to expedite and complete its Definitive Feasibility Study on the Banio Potash Project. ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH will continue to support the project providing geological expertise on the Gabon-Congo Basin and drilling support with geology interpretations for the ongoing drill program.

The technical information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or email at info@millennialpotash.com.  

Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube. 

MILLENNIAL POTASH CORP.

“Farhad Abasov”

Chair of the Board of Directors

In Europe: 

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

This document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or "planned", “forecast”, "intend", “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company’s current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

PR #11 – 2026                                                                                                                  Trading Symbols:            TSX: GGD

                                                                                                                                                                                  OTCQX: GLGDF 

Halifax, NS – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the Company”) - https://www.commodity-tv.com/play/gogold-silver-and-gold-ceo-on-the-start-of-construction-of-the-next-primary-silver-mine-in-mexico/ - is pleased to announce the formal commencement of site construction at Los Ricos South in Jalisco, Mexico.  This milestone follows the completion of a feasibility study in 2025 and the granting of the project permit from the Mexican Government in June of this year. This rapid progress was driven in part by the Company’s decision to initiate the detailed engineering and plant design phase in 2025. First silver and gold pour is scheduled for June 2028.

“We are fully financed with a robust cash position of US$284 million, strong cash flow from our operation at Parral, and zero debt as we begin construction at Los Ricos South,” said Brad Langille, President and CEO. “The decision to advance detailed engineering early has allowed us to get a meaningful head start on long-lead time equipment, which we expect will support an effective execution of the build and keep us on track for first gold pour in June 2028.”

The Company provides the following update on construction and engineering activities: 

1. Underground mining contractor has been selected. Portal construction is scheduled for Q4 2026, with initial mine development to begin in January 2027.
2. Additional geotechnical drilling is currently underway to define exact portal locations and overall underground conditions, which will aid in further optimization of the underground mine plan, with specialist support provided by WSP Geotechnical Engineering.
3. Detailed plant design by M3 and DENM Engineering is approximately 85% complete.
4. RMS (Responsible Mining Solutions) is advancing the detailed design of the paste backfill plant.
5. Orders for all critical long-lead time equipment have been placed, including the SAG mill, tailings filter, crusher, electrical switchgear, Merrill-Crowe plant, conveyors, slurry pumps, hydrocyclones, feeders and screens.
6. The EPCM contractor (M3) is now on site for the construction phase. GoGold has also appointed a construction manager who is currently at site.
7. The earthworks contractor has been mobilized to site, work has commenced at the plant site.
8. As part of its environmental mitigation program, GoGold has launched a regional mitigation program that includes the planting of 20,000 trees to support local reforestation. 

Figure 1 – Earthworks Underway

Figure 2 – Construction Equipment on Site

Technical information contained in this news release with respect to GoGold has been reviewed and approved by Mr. Bob Harris, P.Eng., who is a non-independent qualified person for the purposes of NI 43-101.

About GoGold Resources

GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico.  The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South project, which is in development with a construction decision approved by the Board, and Los Ricos North exploration and development project, both in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.

For further information please contact:

Steve Low

Corporate Development

GoGold Resources 

T: 416 855 0435 

E: steve@gogoldresources.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

CAUTIONARY STATEMENT:

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold’s securities in the United States. 

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings mine, the Los Ricos projects, future operating margins, future production and processing, construction timelines and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral tailings mine. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with the GoGold’s projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

All drill holes reported in this release targeted areas currently classified as inferred mineral resources, with results continuing to demonstrate strong continuity of gold mineralization throughout the deposit, which support the Company's ongoing resource conversion objectives.

Significant drill highlights include:

• Hole 26EC-125 intersected 14.41 grams per tonne (g/t) gold over 3.92 m and 7.74 g/t gold over 1.96 m (Figure 2); the most significant result from the third batch of assays;
• Hole 26EC-118 intersected 4.49 g/t gold over 2.94 m and 7.74 g/t gold over 1.96 m, with hole 26EC-129 returning 2.07 g/t gold over 4.94 m and 10.35 g/t gold over 0.99 m (Figure 3); holes 26EC-118 and 26EC-129 were completed within the same mineralized zone, located approximately 250 m and 190 m up-dip, respectively, from hole 26EC-115;
• Hole 26EC-115 intersected 2.88 g/t gold over 8.00 m and 4.19 g/t gold over 4.00 m; these are final results that complete initial results previously reported (see news release dated July 13, 2026); and
• Hole 26EC-120 intersected 5.07 g/t gold over 6.00 m, including 10.20 g/t gold over 1.00 m (Figure 4).
• 15,047 m (or 35 holes) for the Phase 2 Eau Claire program has been drilled.

"These latest results continue to confirm the continuity and quality of the mineralization as we work to convert inferred mineral resources into higher-confidence mineral resource categories," commented Tim Clark, CEO of Fury. "The consistency of mineralization across multiple zones, combined with several high-grade intercepts, further strengthens our confidence in the Eau Claire deposit as we move towards pre-feasibility in 2027." 

Table 1: Recent Drill Highlights 

 Phase 2 drilling is aimed at converting inferred mineral resources into higher-confidence mineral resources categories and expanding the indicated mineral resource. To date, 35 drill holes totalling approximately 15,047 metres have been completed, of which five holes were abandoned. Assay results are currently available for 22 holes totalling 11,423 metres.

Figure 1: Long section of the Eau Claire Deposit looking north showing the locations of the completed and current drill holes in relation to the block model.

Figure 2: Eau Claire – Section 26EC-125 and 26EC-127.

Figure 3: Section 26EC-115, 26EC-117, 26EC-118, 26EC- and 26EC-129

Figure 4: Eau Claire – Section 26EC-120

Valérie Doyon, P.Geo, VP, Geology at Fury, is a “qualified person” within the meaning of Canadian mineral projects disclosure standards instrument 43-101 and has reviewed and approved the technical disclosures in this press release.

Sampling and Assaying Disclosure

Analytical samples for the Drill Program were taken by sawing HQ diameter core into equal halves on site with one half sent to ALS Chemex in Val D’or, Quebec, Canada for preparation and analysis. All samples were assayed using a 50 g nominal weight fire with assay atomic absorption finish (Au-AA24) and multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61). Where Au-AA24 results were greater than 10 ppm by Au-AA24 were re-assayed with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). QA/QC programs using internal standard samples and blanks, field and lab duplicates, and lab standards and blanks indicate good overall accuracy and precision.

About Fury Gold Mines Limited

Fury Gold Mines Limited is a well-financed Canadian-focused exploration company advancing its 100% owned Eau Claire gold project towards development. The Company holds a 5.8% equity position in Contango Silver and Gold Inc. and is led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its gold portfolio through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com  .

For further information on Fury Gold Mines Limited, please contact:

Salisha Ilyas, Investor Relations

Tel: (844) 601-0841

Email: info@furygoldmines.com

Website: www.furygoldmines.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Forward-Looking Statements and Additional Cautionary Language

This news release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of applicable securities laws, which statements relate to the future exploration operations of the Company and may include other statements that are not historical facts. Specific forward-looking statements contained in this news release includes information relating to the Company’s ongoing exploration program at the Eau Claire project.

Although the Company believes that the assumptions and expectations reflected in those forward-looking statements were reasonable at the time such statements were made, there can be no certainty that such assumptions and expectations will prove to be materially correct. Mineral exploration is a high-risk enterprise.

Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the year ended December 31, 2025 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedarplus.ca and the Company’s Annual Report available at www.sec.gov. Readers should not place heavy reliance on forward-looking information, which is inherently uncertain.

Michael Hudson, President & CEO states: “Of the five mineralized bodies discovered at Sunday Creek, Rising Sun is so far the highest grade. These holes show Rising Sun continues to deliver very high grades into previously untested areas at depth where we traditionally see Victoria epizonal deposits shine. SDDSC230 has delivered one of the top intersections drilled at Sunday Creek: 0.3 m @ 1,466.4 g/t gold, including an individual assay of 0.1 m @ 4,500 g/t gold, from the deepest west-to-east drilling completed beneath Rising Sun to date. That single assay is the fourth highest returned at Sunday Creek and the composite intersection ranks twelfth drilled on the project. That hole is not a one sample story. SDDSC230 and its wedge intersected seven vein sets and stepped out 100 m to 120 m on the RS50, RS60 and RS18 vein sets, while SDDSC231, our deepest west-to-east step-out yet, tied in beside a control hole and confirmed grade continuity a further 150 m out. SDDSC231 returned 0.4 m @ 82.1 g/t gold from 823.3 m and 0.4 m @ 24.3 g/t gold from 1,031.7 m, the deepest mineralization we have intersected at Rising Sun, and the wedge SDDSC230W1 returned 0.4 m @ 88.6 g/t gold from 842.8 m. What also stands out is not only the headline number, it is the consistency behind it. This intersection sits 166 m down-dip of previously reported SDDSC144, which returned 3.6 m @ 118.0 g/t AuEq. 

“Together holes reported here tested approximately 200 m of lateral extent and approximately 300 vertical metres of largely untested ground in Rising Sun at depth, returning three composite intersections above 100 g/t gold, four between 50 g/t and 100 g/t gold and eight individual gold assays above 50 g/t, and intersecting vein sets that sit outside our current Exploration Target. Even SDDSC205, which tracked the footwall of the system rather than drilling through it, returned 0.5 m @ 60.4 g/t gold from 852.4 m including 0.2 m @ 175.0 g/t gold, and we have a wedge planned to test the full width at that depth. 

 “The grades are high, the step-outs are large, and the system is becoming more predictable the deeper we drill it. With eleven rigs turning, results pending from 76 holes and our 200,000 m program running through to Q1 2027, Rising Sun continues to prove and grow in scale with every set of results.”

Drill Hole Discussion

Five drill holes are reported here from the Rising Sun prospect (SDDSC201, SDDSC205, SDDSC230, SDDSC230W1 and SDDSC231), comprising the deepest west-to-east drilling completed beneath Rising Sun to date (Figures 1 to 6). Significant high grades were returned expanding Rising Sun to depth with three (3) composite intersections exceeding 100 g/t Au, four (4) composite intersections between 50 g/t and 100 g/t Au added to project totals and eight (8) individual Au assays greater than 50 g/t Au, one of which exceeded 1,000 g/t Au and represents the 4^th best individual Au intercept on the project to date. The 0.3 m @ 1,466.7 g/t AuEq composite in SDDSC230 also ranks as the 12th best composite intersection returned at Sunday Creek to date. Collectively these holes tested approximately 280 m of down hole length through the Rising Sun vein array, representing approximately 200 m of lateral extent and approximately 300 vertical metres, with grade tenor continuing to improve with depth.

SDDSC201

SDDSC201 was drilled as a shallow control and delineation hole, positioned opportunistically to infill the RS30 vein set up-dip. The hole deviated off target and returned a low-grade result, clipping the periphery of the RS30/RS10 vein set. It did not reduce the known strike extent of that vein. Mineralization was returned outside the modelled altered sediment package while remaining within the pyrite halo, indicating that grade at Rising Sun is not confined to the modelled dyke and altered sediment envelope in this position.

Selected composite highlights include:

• 0.8 m @ 2.6 g/t AuEq (2.6 g/t Au, 0.0% Sb) from 274.0 m

SDDSC205

SDDSC205 intersected four vein sets on the footwall of the system, rather than drilling fully through it, delivering a useful extension into that part of the system. A wedge is planned from SDDSC205 to correct back into the target position and test the full width of the system at this depth.

Selected composite highlights include:

• 0.5 m @ 60.4 g/t AuEq (60.4 g/t Au, 0.0% Sb) from 852.4 m, including;
• 0.17 m @ 175.0 g/t AuEq (175.0 g/t Au, 0.0% Sb) from 852.8 m
• 3.9 m @ 2.6 g/t AuEq (2.5 g/t Au, 0.0% Sb) from 1013.7 m, including;
• 1.1 m @ 5.5 g/t AuEq (5.4 g/t Au, 0.0% Sb) from 1013.7 m
• 4.1 m @ 1.3 g/t AuEq (1.2 g/t Au, 0.1% Sb) from 1021.5 m

SDDSC230 & SDDSC230W1
 SDDSC230 returned a headline composite of 0.3 m @ 1,466.7 g/t AuEq (1,466.4 g/t Au, 0.1% Sb) from 886.7 m, which includes an individual assay of 4,500 g/t Au. This intersection at 886.74 m represents a 166 m extension down-dip to the high-grade intercept in SDDSC144: 3.6 m @ 118.0 g/t AuEq (114.6 g/t Au, 1.4% Sb) from 748.8 m, (refer to ASX announcement dated 18 December 2024), confirming the continuity of the RS19 vein set 166 m up-dip, an unusually consistent result at this tenor and a strong indicator of grade continuity and predictability down-plunge. The SDDSC230 composite ranks as the 12^th best composite intersection returned at Sunday Creek to date (Figures 1 to 4).

Together, SDDSC230 and its wedge SDDSC230W1 intersected seven vein sets and stepped out approximately 100 m to 120 m on the RS50, RS60 and RS18 vein sets and 50 m on RS40 with two vein sets identified outside the current Exploration Target (refer to ASX announcement dated 4 August 2026). 

SDDSC230 returned five individual assays exceeding 50 g/t Au:

4,500.0 g/t Au & 0.33% Sb over 0.10 m from 886.95 m

428.0 g/t Au & 0.15% Sb over 0.10 m from 988.30 m

293.0 g/t Au & 2.20% Sb over 0.39 m from 987.08 m

53.8 g/t Au & 0.01% Sb over 0.67 m from 862.25 m

52.2 g/t Au & 0.01% Sb over 0.63 m from 906.92 m

SDDSC230W1 returned one individual assay exceeding 50 g/t Au:

88.6 g/t Au & 0.01% Sb over 0.44 m from 842.80 m

Selected composite highlights include:

SDDSC230

• 4.3 m @ 9.0 g/t AuEq (9.0 g/t Au, 0.0% Sb) from 858.6 m, including;
• 0.7 m @ 53.8 g/t AuEq (53.8 g/t Au, 0.0% Sb) from 862.3 m
• 0.3 m @ 1,466.7 g/t AuEq (1,466.4 g/t Au, 0.1% Sb) from 886.7 m
• 1.0 m @ 33.0 g/t AuEq (33.0 g/t Au, 0.0% Sb) from 899.1 m
• 0.6 m @ 52.2 g/t AuEq (52.2 g/t Au, 0.0% Sb) from 906.9 m
• 1.3 m @ 120.7 g/t AuEq (119.1 g/t Au, 0.7% Sb) from 987.1 m

SDDSC230W1

• 0.4 m @ 88.6 g/t AuEq (88.6 g/t Au, 0.0% Sb) from 842.8 m

SDDSC231
 SDDSC231 is the deepest west-to-east step-out drilled to date. Intersections at 823.3 m and 1031.7 m represent 150 m step-outs from SDDSC155A – RS11 vein set (refer to ASX announcement dated 28 May 2025) and SDDSC230 – RS40 vein set (this release), respectively.

Selected composite highlights include:

• 0.4 m @ 82.1 g/t AuEq (82.1 g/t Au, 0.0% Sb) from 823.3 m
• 1.2 m @ 9.1 g/t AuEq (9.1 g/t Au, 0.0% Sb) from 949.3 m
• 0.4 m @ 24.4 g/t AuEq (24.3 g/t Au, 0.0% Sb) from 1031.7 m

Pending Results and Update

Eleven drill rigs are currently operational at Sunday Creek. Results are pending from 76 holes, comprising 54 holes at Sunday Creek and 22 regional holes, all currently being processed and analyzed. These include eleven holes actively being drilled and three abandoned holes (Figures 1-3). The Company's 200,000 m drill program continues through to Q1 2027. 

About Sunday Creek 

The Sunday Creek epizonal-style gold project is located 60 km north of Melbourne within 16,900 hectares (“Ha”) of granted exploration tenements. SXGC is also the freehold landholder of 1,392 Ha that forms the key portion in and around the main drilled area at the Sunday Creek Project.  

Gold and antimony form in a relay of vein sets that cut across a steeply dipping zone of intensely altered rocks (the “host”). These vein sets are like a “Golden Ladder” structure where the main host extends between the side rails deep into the earth, with multiple cross-cutting vein sets that host the gold forming the rungs.  At Apollo, Golden Dyke and Rising Sun these individual ‘rungs’ have been defined over 600 m depth extent from surface to over 1,200 m below surface, are 2.5 m to 3.5 m wide (median widths) (and up to 10 m), and 20 m to 100 m in strike. 

Cumulatively, 278 drill holes for 134,534.25 m have been reported from Sunday Creek since late 2020. This amount includes five holes for 929 m that have been drilled for geotechnical purposes and 23 holes for 3,104.12 m that were abandoned due to deviation or hole conditions. Fourteen drill holes for 2,382.74 m have been reported regionally outside of the main Sunday Creek drill area. A total of 64 historic drill holes for 5,599 m were completed from the late 1960s to 2008. The project now contains a total of ninety-six (96) composite intersections exceeding 100 g/t Au and eighty-three (83) composite intersections between 50 g/t and 100 g/t Au, and one hundred and ten (110) composite intersections exceeding 10% Sb by applying a 1 m (down hole length) @ 5 g/t AuEq lower cut.

Southern Cross Gold’s systematic drill program is strategically targeting these significant vein formations, which are currently drill defined over 1,550 m strike of the host dyke/sediment (“rails of the ladder”) from Christina to Apollo prospects, of which approximately 650 m has been more intensively drill tested (Golden Dyke to Apollo). At least 125 ‘rungs’ have been defined to date, delineated by high-grade intercepts (20 g/t Au to >7,330 g/t Au) along with lower grade edges. Ongoing step-out drilling is aiming to uncover the potential extent of this mineralized system (Figures 1-3). 

Geologically, the project is located within the Melbourne Structural Zone in the Lachlan Fold Belt. The regional host to the Sunday Creek mineralization is an interbedded turbidite sequence of siltstones and minor sandstones metamorphosed to sub-greenschist facies and folded into a set of open north-west trending folds.

Further Information 

Further discussion and analysis of the Sunday Creek project is available through the interactive Vrify 3D animations, presentations and videos all available on the SXGC website.   These data, along with an interview on these results with President & CEO/Managing Director Michael Hudson can be viewed at www.southerncrossgold.com. 

No upper gold grade cut is applied in the averaging and intervals are reported as drill thickness. However, during future Mineral Resource studies, the requirement for assay top cutting will be assessed. The Company notes that due to rounding of assay results to one decimal place, minor variations in calculated composite grades may occur.

Figures 1 to 6 show project location, plan and longitudinal views of drill results reported here and Tables 1 to 3 provide collar and assay data. True thicknesses of the mineralized intervals are reported individually as estimated true widths (“ETW”) where these have been estimated; otherwise, they are interpreted to be approximately 55% to 80% of the sampled thickness. Lower grades were cut at 1.0 g/t AuEq lower cutoff over a maximum width of 2 m with higher grades cut at 5.0 g/t AuEq lower cutoff over a maximum of 1 m width.

Critical Metal Epizonal Gold-Antimony Deposits

Sunday Creek (Figure 6) is an epizonal gold-antimony deposit formed in the late Devonian (like Fosterville, Costerfield and Redcastle), 60 million years later than mesozonal gold systems formed in Victoria (for example Ballarat and Bendigo). Epizonal deposits are a form of orogenic gold deposit classified according to their depth of formation: epizonal (<6 km), mesozonal (6 km to 12 km) and hypozonal (>12 km). 

Epizonal deposits in Victoria often have associated high levels of the critical metal, antimony, and Sunday Creek is no exception. China claims a 56 per cent share of global mined supplies of antimony, according to a 2023 European Union study. Antimony features highly on the critical minerals lists of many countries including Australia, the United States of America, Canada, Japan and the European Union. Australia ranks seventh for antimony production despite all production coming from a single mine at Costerfield in Victoria, located near all SXGC projects. Antimony alloys with lead and tin which results in improved properties for solders, munitions, bearings and batteries. Antimony is a prominent additive for halogen-containing flame retardants. Adequate supplies of antimony are critical to the world's energy transition, and to the high-tech industry, especially the semiconductor and defence sectors where it is a critical additive to primers in munitions. 

Antimony represents approximately 15% to 17% in situ recoverable value of Sunday Creek at an AuEq ratio of 2.39.

About Southern Cross Gold Consolidated Limited (TSX:SXGC) (ASX:SX2) (OTCQX:SXGCF) (Frankfurt: MV3.F) 

Southern Cross Gold Consolidated Ltd. (TSX: SXGC, ASX: SX2, OTCQX: SXGCF), is defining a leading gold-antimony project at the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne. Sunday Creek is a significant gold and antimony drill discovery in a Tier 1 location, with high-grade drill results including 96 composite intersections exceeding 100 g/t Au from 140.1 km of drilling (including historic drilling). The mineralization follows a "Golden Ladder" structure over 12 km of interpreted strike length, with structures drill tested from surface to 1,200 m depth.

Sunday Creek's strategic value is enhanced by its dual-metal profile. The Company has a critical mineral that the Western world needs. This has gained increased significance following China's export restrictions on antimony, a critical metal for defence and semiconductor applications. Southern Cross’ inclusion in the US Defense Industrial Base Consortium (DIBC) and Australia's AUKUS-related legislative changes position it as a potential key Western antimony supplier. 

Technical fundamentals further strengthen the investment case, with preliminary metallurgical work showing non-refractory mineralization suitable for conventional processing and gold recoveries of 93% to 98% through gravity and flotation. 

With a strong cash position, 1,392 Ha of strategic freehold land ownership, and a large 200 km drill program planned through Q1 2027, SXGC is well-positioned to advance this globally significant gold-antimony discovery in a tier-one jurisdiction, delivering milestone by milestone.

- Ends -

For ASX Compliance: This announcement has been approved for release by the Board of Southern Cross Gold Consolidated Ltd.

For further information, please contact:

Mariana Bermudez – Corporate Secretary 

mb@southerncrossgold.com or +1 604 685 9316    

Executive Office

1305 – 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada 

Nicholas Mead – VP Investor Relations

info@southerncrossgold.com.au or +61 415 153 122   

Justin Mouchacca, Assistant Company Secretary, 

jm@southerncrossgold.com.au or +61 3 8630 3321

Subsidiary Office  

Level 21, 459 Collins Street, Melbourne, VIC, 3000, Australia

NI 43-101 Technical Background and Qualified Person

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Kenneth Bush, Head of Exploration for SXGC, a Member of the Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315), is the Qualified Person as defined by NI 43-101. He has prepared, reviewed, verified and approved the technical contents of this release. 

Analytical samples are transported to the Bendigo facility of On Site Laboratory Services (“On Site”) which operates under both an ISO 9001 and NATA quality systems. Samples were prepared and analyzed for gold using the fire assay technique (PE01S method; 25 gram charge), followed by measuring the gold in solution with flame AAS equipment. Samples for multi-element analysis (BM011 and over-range methods as required) use aqua regia digestion and ICP-OES analysis. The QA/QC program of Southern Cross Gold consists of the systematic insertion of certified standards of known gold content, blanks within interpreted mineralized rock and quarter core duplicates. In addition, On Site inserts blanks and standards into the analytical process. 

SXGC considers that both gold and antimony that are included in the gold equivalent calculation (“AuEq") have reasonable potential to be recovered and sold at Sunday Creek, given current geochemical understanding, historic production statistics and geologically analogous mining operations. Historically, ore from Sunday Creek was treated onsite or shipped to the Costerfield mine, located 54 km to the northwest of the project, for processing during WW1. The Costerfield mine corridor, now owned by Alkane Resources (previously Mandalay Resources) contains two million ounces of equivalent gold (Mandalay Resources Q3 2021 Results), and in 2020 was the sixth highest-grade global underground mine and a top 5 global producer of antimony. 

SXGC considers that it is appropriate to adopt the same gold equivalent variables as Mandalay Resources Ltd in its 2024 End of Year Mineral Reserves and Resources Press Release, dated February 20, 2025. The gold equivalence formula used by Mandalay Resources was calculated using Costerfield’s 2024 production costs, using a gold price of US$2,500 per ounce, an antimony price of US$19,000 per tonne and 2024 total year metal recoveries of 91% for gold and 92% for antimony, and is as follows: 

𝐴𝑢𝐸𝑞 = 𝐴𝑢 (𝑔/𝑡) + 2.39 × 𝑆𝑏 (%)

Based on the latest Costerfield calculation and given the similar geological styles and historic toll treatment of Sunday Creek mineralization at Costerfield, SXGC considers that a 𝐴𝑢𝐸𝑞 = 𝐴𝑢 (𝑔/𝑡) + 2.39 × 𝑆𝑏 (%) is appropriate to use for the initial exploration targeting of gold-antimony mineralization at Sunday Creek. 

JORC Competent Person Statement 

Information in this announcement that relates to new exploration results contained in this report is based on information compiled by Mr Kenneth Bush, a Member of the Australian Institute of Geoscientists and a Registered Professional Geologist in the fields of Mining and Exploration (#10315). Mr Bush has sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bush is Head of Exploration of Southern Cross Gold Consolidated Limited and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 

Certain information in this announcement that relates to prior exploration results is extracted from the Independent Geologist’s Report dated 11 December 2024, which was issued with the consent of the Competent Person, Mr Steven Tambanis. The report is included in the Company’s prospectus dated 11 December 2024 and is available at www.asx.com.au under code “SX2”. The Company confirms that it is not aware of any new information or data that materially affects the information related to exploration results included in the original market announcement. The Company confirms that the form and context of the Competent Person’s findings in relation to the report have not been materially modified from the original market announcement.

Certain information in this announcement also relates to prior drill hole exploration results, extracted from announcements, which are available to view on www.southerncrossgold.com.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original document/announcement and the Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Forward-Looking Statement

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements.   Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political, social uncertainties; the state of capital markets, unforeseen events, developments, or factors causing any of the expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in the Company’s documents filed with Canadian or Australian (under code SX2) securities regulatory authorities. You can find further information with respect to these and other risks in filings made by the Company with the securities regulatory authorities in Canada or Australia (under code SX2), as applicable, and available for the Company in Canada at www.sedarplus.ca or in Australia at www.asx.com.au (under code SX2). Documents are also available at www.southerncrossgold.com The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

  Figure 1: Sunday Creek plan view showing selected drill hole traces from holes SDDSC201, SDDSC205, SDDSC230, SDDSC230W1 and SDDSC231 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue). Showing C-D Longitudinal Section along Vein Set Rising Sun 19 shown in Figure 4. 

Figure 2: Sunday Creek plan view showing selected drill hole traces from holes SDDSC201, SDDSC205, SDDSC230, SDDSC230W1 and SDDSC231 reported here (black trace), with prior reported drill holes (grey trace) and currently drilling and assays pending hole traces (dark blue).

Figure 3: Sunday Creek longitudinal section across A-B in the plane of the dyke breccia/altered sediment host looking towards the NW (striking 56 degrees) indicating mineralized vein sets. Showing holes SDDSC201, SDDSC205, SDDSC230, SDDSC230W1 and SDDSC231 reported here (dark blue highlighted box, black trace), with selected intersections and prior reported drill holes. The vertical extents of the vein sets are limited by proximity to drill hole pierce points.

Figure 4: Sunday Creek longitudinal section C-D of Rising Sun Vein Set 19.

Figure 5: Sunday Creek regional plan view showing soil sampling, structural framework, regional historic epizonal gold mining areas and broad regional areas.   The main regional drill areas are at Tonstal, Consols and Leviathan located 4,000 m to 7,500 m along strike from the main drill area at Golden Dyke- Apollo. Map in GDA94/ MGA Zone 55.

Figure 6: Location of the Sunday Creek project, along with the 100% owned Redcastle Gold-Antimony Project

VANCOUVER, BC, August 25, 2026 - Banyan Gold Corp. (the "Company" or "Banyan") (TSXV: BYN) (OTCQB: BYAGF) - https://www.commodity-tv.com/play/banyan-gold-strong-drilling-results-at-powerline-and-good-progress-on-the-pea/ - is pleased to announce that the first drillhole at the Seattle Creek zone on the greenfields Nitra Project (“Nitra”), has confirmed a new high-grade gold and silver mineralized system 25 km west of the AurMac Deposit. Only the top 95 metres of the 600-metre hole have been assayed to date. Seattle Creek is located on claims 100% owned by Banyan with no underlying royalties and is the second of eleven exploration targets being drill tested in 2026 on Banyan’s broader 830 sq km AurMac and Nitra land packages in the Mayo Mining District, Yukon (The discovery at the first greenfield target, Roaring Fork and the discovery at Seattle Creek was announced on July 28, 2026, with visible gold and photos of drill core at Seattle Creek.)

Highlights from Seattle Creek Zone at Nitra:

• NT-26-006 – 0.91 g/t Gold and 27.01 g/t Silver over 12.1 m from 41.7 m;
  1. including 4.04 g/t Au over 1.4 m and 3.32 g/t Au over 1.4 m; and within the 4.04 g/t Au interval, 0.5 m returned 5.70 g/t Au and 544 g/t Ag.

*Note: Only assays from the top 95 m of the 600 m NT-26-006 drillhole have been received to date; assays for the lower portion of the hole are pending.

“Initial assays from the Seattle Creek zone have returned high-grade gold and silver mineralization, adding another mineralized zone to our greenfields Nitra project,” stated Tara Christie, President and CEO. “Diamond drillhole NT-26-006 intersected multiple occurrences of visible gold hosted in extensional quartz veins with associated bismuth sulphosalts and arsenopyrite. Together with the other geologic indicators, Seattle Creek has the potential to expand with follow-up drilling. The discovery of additional visible gold identified in drillhole NT-26-002, with assays pending, also supports the potential to extend the Roaring Fork Zone.”

In June 2026, Banyan commenced its greenfields exploration diamond drilling program at Nitra. The program is designed to test 11 regional targets identified through new geophysical surveys, soil geochemical anomalies, placer-mining history and prospecting. More than 7,500 m of drilling is planned to use three helicopter-supported drills to minimize the initial footprint and accelerate target testing. Nitra benefits from an extensive road network established by previous placer mining activities. The objective of the program is to identify potential satellite deposits and additional expressions of Reduced Intrusion-Related Gold Systems ("RIRGs") west of AurMac, where more than 95% of Banyan’s district-scale land package remains untested by drilling.

“The large, annealed shear zone, brecciated quartz veins, and multiphase sulphide mineralization, all spatially associated with high-grade gold mineralization in extensional quartz veins, are encouraging indicators of a potential larger mineralizing system at the Seattle Creek and Roaring Fork zones,” stated Duncan Mackay, Vice President Exploration. “While visible gold can be an encouraging indicator, it does not always correlate with assay grade. We are encouraged that the visible gold at Seattle Creek is associated with high-grade assays and are planning follow-up drilling to test the extent and geometry of the system.” 

Figure 1: Location of the Seattle Creek Zone (Figure 2) in Nitra, approximately 25km west of AurMac and 2.5km north of Roaring Fork Zone.

At Seattle Creek, a combination of soil geochemical anomalies (Gold, Bismuth, Arsenic) and geophysical signatures (resistive anomaly) were used to identify the target. These targeting indicators were combined with proximal placer mining in the creek drainage to locate and prioritize the targets. Mineralization at Seattle Creek is predominantly hosted in large extensional quartz vein hosting bismuth sulphosalts, arsenopyrite, pyrite, and locally sphalerite (Figure 5), and foliation sub-parallel shear veins hosting bismuth-sulphosalts, arsenopyrite, pyrite. Mineralization at Seattle Creek is spatially associated with annealed (cemented) faults with brecciated quartz vein material and wall rock entrained in a pyrite rich ground mass (Figures 7-9). Long lived/reactivated structures are strong indicators for mineralization potential with complex structural regimes and fluid pathways providing opportunities for mineralizing fluids to permeate the country rock and precipitate gold.

Figure 2: Plan map of Seattle Creek Zone in Nitra. Drill hole traces for NT-26-006 shown. Blue line denotes cross section (Figure 3).

Figure 3: Cross Section A-B in Figure 2 – Seattle Creek Zone – Nitra. Numerous visible gold occurrences in potential mineralized zone between 36m and 53m primarily hosted in metasedimentary and metavolcanic rocks. Stratigraphy is dipping moderately (~35-45 degrees) slightly east of south (approx. 165-170 degrees). Extensional veins are dipping moderately (30-50 deg) slightly west of north. Major annealed shear zones at 110-115m (Figure 7 and 8) and 364-367m (Figure 9).  The orientation of annealed shear zones is yet to be confirmed and will require additional drilling.

Figure 4: Mineralized extensional quartz veins in predominantly metasedimentary rocks in drillhole NT-26-006 from Nitra. The Quartz veins host visible gold, bismuth-sulphosalts, and arsenopyrite (Figures 5 and 6).

Figure 5: Potential mineralized intervals from drillhole NT-26-006: Top - 36.2-36.7m – extensional quartz vein bearing visible gold, bismuth sulphosalts, arsenopyrite, and pyrite. Middle – 40.9-41.2m – extensional quartz vein bearing visible gold, bismuth sulphosalts, pyrrhotite, and pyrite. Bottom – 41.9-42.2m – local quartz shear veins and extensional quartz-carbonate veins associated with calc-silicate alteration and pyrrhotite, arsenopyrite, pyrite sulphide replacement of calcareous metasedimentary rocks.

Figure 6: Visible gold occurrences from diamond drillhole NT-26-006 at Seattle Creek, Nitra. A) 40.4m visible gold intergrown with acicular bismuth sulphosalts. B) 40.9m visible gold spatially associated with pyrrhotite, arsenopyrite, and bismuth sulphosalts. C) and D) 41.0m visible gold spatially associated with pyrrhotite and intergrown with bismuth sulphosalts grains. E) 52.7m visible gold intergrown with arsenopyrite grain. F) 52.7m visible gold in extensional quartz vein.

Figure 7: Zone of intensely sheared/deformed rock in drillhole NT-26-006 (Figure 3). Spatial association with visible gold mineralization from 36-53m in NT-26-006 is a strong indicator of potential for a more widespread mineralizing system at Seattle Creek.

Figure 8: Brecciated quartz shear vein hosting bismuth sulphosalts, arsenopyrite, sphalerite, and pyrite. Late brecciation and mineralization of existing shear veins indicate a long-lived structure which underwent reactivation. Brecciation and mineralized ground mass may indicate high fluid flux through the system; reactivated structures may act as major fluid pathways for concentrating regionally pervasive mineralizing fluids.

Figure 9: Zones of brecciated and annealed rock in drillhole NT-26-006. Healed breccias and associated shear zones may be indicative of long-lived, large structures, which can act as fluid pathways for regional mineralizing systems.

Figure 10: Plan map of Roaring Fork Zone in Nitra. Drillhole traces for NT-26-001 and -002. De-surveyed partial assay values for NT-26-001 and trace of NT-26-002 shown with surface soil sample anomalies highlighted. Cross section denoted by blue line (Figure 11).

Figure 11: Cross section 7072350N – Drillholes NT-26-001 and -002 (results pending) are shown. Multiple instances of visible gold, including recently identified intervals in NT-26-002 (Figures 12 and 13), are promising indicators of a larger mineralizing system in the Roaring Fork zone. There is a change in rock-type approximately mid-way downhole with folded and highly-strained mixed metavolcanic, metasedimentary, felsic dyke rocks giving way to predominantly metasedimentary rocks dominated by chlorite and moderate grade metamorphic minerals (sillimanite, andalusite, possible retrograde cordierite). Stratigraphy is dipping moderately (~40-45 degrees) slightly east of south (approx. 160-170 degrees). Extensional veins are dipping moderately (20-35 degrees) slightly west of north (340-360). Extensional veins and mineralized shear veins are concentrated in the top 300m of the drillholes (note red traces for extensional veins). 

Figure 12: Quartz extensional vein in NT-26-002, hosting visible gold (Figure 13), pyrite, and bismuth sulphosalts. While visible gold can be an indicator of grade for an interval, due to the variable nature of nuggety gold, presence of visible gold may not always indicate high-grade assay results.

Figure 13: Visible gold occurrences from diamond drillhole NT-26-002 at Roaring Fork Zone:   A) 307.5m visible gold spatially associated with pyrite in quartz shear vein. B) 430.8m visible gold spatially associated with pyrite. C) 432.6m visible gold grain intergrown with pyrite grain, and D) 496.7m visible gold intergrown with pyrite. 

Table 1: Gold Intervals from Nitra – Seattle Creek

Note: Calculated true widths are approx. 80% of drill intervals. Further drill intersections and modelling will confirm orientation of mineralized domains.

Only assay for top 95m of the drillhole have been received to date.

Table 2: Silver Intervals from Nitra – Seattle Creek

Note: Calculated true widths are approx. 80% of drill intervals. Further drill intersections and modelling will confirm orientation of mineralized domains.

Table 3: Collars for diamond drillholes in this release

*Note: Assays for top of hole to 95m have been returned for drillhole NT-26-006; other assays pending. 

Analytical Method and Quality Assurance/Quality Control Measures

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified reference materials, field duplicates and coarse blanks into the sample stream and utilizing certified independent analytical laboratories for all assays. Additionally, historic QA/QC data and methodology on the AurMac Project were reviewed and will be summarized in the Technical Report‎. The Qualified Persons detected no significant QA/QC issues during review of the data.

A robust system of standards, core duplicates and coarse blanks was implemented in all Banyan’s 2026 drilling programs and was monitored as chemical assay data became available. All control samples were within accuracy and precision thresholds required to meet data quality standards. These control samples amounted to approximately 10% of all samples submitted to analytical laboratories.

All diamond drill core was systematically logged and photographed by Banyan geology personnel.  All core samples (HTW and NTW diameter) were split on-site at Banyan’s core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to either the Bureau Veritas (“BV”), Whitehorse preparatory laboratory or to AGAT Laboratories Geochemical Mining Division in Calgary (“AGAT”). Samples delivered to BV were prepared and then shipped to Bureau Veritas’s Analytical laboratory in Vancouver, B.C. for pulverization and final chemical analysis.  Samples delivered to AGAT were prepared, pulverized and undergo final chemical analysis in either Calgary or Thunder Bay, Ontario.

Core splits reported in this news release were analysed by either Bureau Veritas of Vancouver, B.C., or AGAT Laboratories in Calgary, Alberta. BV utilized the four-acid digestion ICP-ES 45-element MA-200 or ICP-ES/MS 59-element MA-250 analytical package with FA-450 50-gram Fire Assay with AAS finish for gold on all samples.  Samples returning >10 g/t Au were reanalysed by fire assay with gravimetric finish on a 50g sample (FA-550). High-grade samples with documented visible gold were also analysed using metallic screen fire assay (FS-652). Samples returning >200 g/t Ag (MA250 or MA300) were analysed by multi-acid digestion ICP-ES MA370. If samples returned > 1,500 g/t Ag, they were analysed by fire assay with gravimetric finish on a 50g sample (FA550).  If samples returned > 10,000 g/t Ag, they were analysed by fire assay 2g sample (FA501). Bureau Veritas is an accredited lab following ISO/IEC 17025:2017 SCC File Number 15895. A robust system of standards, ¼ core duplicates and blanks has been implemented in the 2026 exploration drilling program and is monitored as chemical assay data becomes available.

Core splits reported in this news release analysed by AGAT Laboratories of Calgary, Alberta or Thunder Bay, Ontario, utilized the four-acid digestion ICP-OES/ICP-MS 48-element 201-071 analytical package with 201-551 50-gram Fire Assay with AAS finish for gold on all samples.  Samples returning >10 g/t Au were reanalysed by fire assay with gravimetric finish on a 50-gram sample (202-551). High-grade samples with documented visible gold are also analysed using metallic screen fire assay (202-131). Samples returning >100 g/t Ag (201-071) were analysed by multi-acid digestion ICP-OES/ICP-MS 201-470. AGAT is an accredited lab following ISO/IEC 17025:2017 SCC File Number 151266 and 151083. A robust system of standards, ¼ core duplicates and blanks has been implemented in the 2026 exploration drilling program and is monitored as chemical assay data becomes available.

Qualified Persons 

Duncan Mackay, M.Sc., P.Geo., is a “Qualified Person” as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and approved the content of this news release in respect of all disclosure other than the MRE.‎ Mr. Mackay is Vice President Exploration for Banyan and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

Upcoming Events

• GCFF Conference, Vancouver, BC, September 19
• Precious Metals Summit, Beaver Creek, CO, September 22-25
  • Corporate Presentation:  September 23, 1:30 PM MDT
• Denver Gold Forum Americas, Colorado Springs, CO, September 27-30
• The MoneyShow Orlando, FL, October 5-7

About Banyan 

Banyan’s primary asset, the AurMac Project, is located in the Traditional Territory of the First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory.  The AurMac Project comprises two main deposits, the Airstrip and Powerline Deposits. Mineralization is characteristic of a Reduced Intrusion Related Gold system, hosted in auriferous cross-cutting sheeted quartz veins and replacement style mineralization hosted in skarn horizons. The current Mineral Resource Estimate (“MRE”) for the AurMac Project has an effective date of May 15, 2026 and comprises an Indicated Mineral Resource of 3.639 million ounces of gold (“Au“) (167.3 M tonnes at 0.68 g/t) and an Inferred Mineral Resource of 4.985 Moz of Au (267.2 M tonnes at 0.58 g/t) (See MRE Table below; as defined in the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves incorporated by reference into NI 43‑101). The 303 square kilometres (“sq km”) AurMac Project lies 40 kilometres from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 69 kVA 3-phase powerline, existing power substation and cell phone coverage.

MRE Table: Pit-constrained Indicated and Inferred Mineral Resources – AurMac Project

Notes to MRE Table:

1. The effective date for the MRE is May 15, 2026, the technical report is available for review on SEDAR+ at www.sedarplus.ca.
2. The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
3. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
4. The 2014 CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
5. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.73 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.
6. The number of tonnes was rounded to the nearest hundred thousand and ounces rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt (the “Hyland Project”) in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council. The Hyland Project represents a sediment hosted, structurally controlled, intrusion-related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads. The updated MRE comprises an Indicated Mineral Resource of 337 thousand (“K”) ‎ounces (“oz”) of gold (“Au”) and 2.63 million (“M”) oz of silver (“Ag”) (11.3 M tonnes at 0.93 g/t Au and 7.27 g/t Ag), and an Inferred Mineral Resource of 118 Koz of Au and 0.86 Moz Ag (3.9 M tonnes at 0.95 g/t Au and 6.94 g/t Ag) (as defined in the 2014 CIM Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) effective September 1, 2025 and with technical report filed on Sedar on October 27, 2025.

Banyan also holds the Nitra Gold Project and Seattle-Goodman Creek Project which are grassroots exploration projects located in the Mayo Mining district, adjacent to the AurMac Gold Project. These properties lie in the northern part of the Selwyn Basin and are underlain by metaclastic rocks of the Late Proterozoic Yusezyu Formation of the Hyland Group, similar to lithologies hosting portions of the AurMac Project. Middle Cretaceous Tombstone Plutonic suite intrusions occur along the properties including the Morrison Creek and Minto Creek stocks. The properties are 100% owned by Banyan and cover over 227 sq km. The properties are accessible by road along the Silver Trail Highway, South McQuesten Road and a network of other smaller roads across the properties.

Banyan trades on the TSX-Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”. For more information, please visit the corporate website at www.banyangold.com or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) "Tara Christie" 

Tara Christie

President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com 

Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This release contains forward-looking information, which is not comprised of historical facts and is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forward-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” and “continue” or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the potential for resource and zone expansion; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan’s public documents filed on SEDAR+. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Drew Anwyll, P.Eng., CEO of Mayfair Gold, stated: “I am pleased to welcome Des and Ruben to Mayfair Gold as we advance Fenn-Gib toward a construction decision. Their appointments strengthen two critical areas of project execution on an accelerated timeline. Des brings the integrity, collaborative approach, and proven leadership across project development experience needed to lead mining projects through engineering, construction, commissioning, and operations, while Ruben brings extensive experience in environmental approvals stewardship, permitting, government relations, and Indigenous and community engagement across the full mining lifecycle. Together with, and working alongside our experienced team, they will help strengthen our ability to advance Fenn-Gib safely, efficiently, and with discipline through the 1P1P framework, while continuing to build strong relationships with Indigenous communities.”

Desmond Tranquilla is a seasoned mining executive and Professional Engineer with more than 35 years of experience in project development, construction, operations, and strategic leadership. A University of New Brunswick Civil Engineering graduate, he has held senior roles with Canada Nickel Company, SNC-Lavalin, Ausenco, AMEC, and Detour Gold.

Most recently, Mr. Tranquilla served as Vice President, Projects at Canada Nickel Company, helping advance the Crawford Nickel Project. His career includes leadership roles on major developments such as Vale’s C$1.6 billion Atmospheric Emission Reduction Project, the C$1.5 billion Detour Lake Mine Project, and significant potash expansions in Saskatchewan. He brings broad experience across the full project lifecycle and a proven record of advancing complex mining projects from concept through production.

Mr. Tranquilla, P.Eng., incoming Chief Projects Officer, added: “I am excited to join Mayfair Gold at a pivotal stage in Fenn-Gib’s development. My immediate priority will be to build on the Project’s strong technical foundation and translate its development strategy into a practical, well-coordinated execution plan as it progresses through detailed engineering and into construction. Beyond advancing Fenn-Gib, I see a compelling opportunity to help establish Mayfair as a leading Canadian gold company.”

Mr. Wallin has over 30 years of experience working at the intersection of mining operations, environmental stewardship, permitting, government relations, and community engagement. His background combines technical engineering education with corporate and site-level experience on major mining projects and operations, giving him extensive expertise in navigating the environmental, regulatory, and stakeholder requirements associated with mine development and production.

Throughout his career, Mr. Wallin has held positions with Placer Dome, De Beers Canada, Barrick, Osisko, and Detour Gold. Most recently, he served as Vice President, Sustainability at Generation Mining, where he played a key role in advancing the environmental approvals for the Marathon Project.

Mr. Wallin, P.Eng., added: “I am excited to join Mayfair Gold and contribute to the responsible development of Fenn-Gib. I look forward to working with the site team, Indigenous communities, regulators, and other stakeholders to advance the Project’s environmental approvals and build durable relationships grounded in a culture of respect, transparency, and collaboration, with a clear focus on excellence.”  

The Company also announces the grant of stock options to Mr. Tranquilla and Mr. Wallin to each acquire 200,000 common shares in the capital of the Company at an exercise price which shall be the 5-day volume weighted average trading price of the Company’s common shares on the TSX Venture Exchange on and including August 24, 2026 for a five-year term expiring on August 24, 2031 in accordance with the Omnibus Incentive Plan.

The Company further announces the grant of 2,452,500 Performance Restricted Share Units “PRSUs” to certain officers and employees of the Company in accordance with the Omnibus Incentive Plan. These PRSUs will vest after specific milestones related to the advancement of the Fenn-Gib Project, which are expected to significantly increase shareholder value, are met, as prescribed and approved by the Company’s board of directors. The PRSUs will vest at the latter of the milestone being achieved or 1-year, with a maximum vesting period of 3 years, as per the Company’s Omnibus Incentive Plan.

About Mayfair Gold 

Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100% controlled Fenn-Gib Project in the Timmins region of Northern Ontario. Fenn-Gib hosts a 4.3 million ounce indicated mineral resource of gold (181.3Mt at an average grade of 0.74 g/t) and the expected strategy outlined in the 2026 Pre-Feasibility Study (the “PFS”)[1] is to develop the project under the provincial permitting process, targeting the higher-grade 1 million ounce probable mineral reserve (25.1Mt at an average grade of 1.29g/t) sitting near-surface, highlighting the optionality and scalability provided by the deposit.  The PFS also outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow[2] of US$896 million over the first six years of production based on a US$3,100/oz gold price. The Company is advancing permitting activities, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030. The company also remains focused on exploration around the broader land package with the goal of enhancing mineral resource scale and growth opportunities.

The content of this news release has been reviewed on behalf of the Company and approved by Drew Anwyll, P.Eng., Chief Executive Officer of Mayfair, a QP as defined in NI 43-101.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of applicable United States securities legislation (collectively, “forward-looking information”). The use of the words “will” and “expected” and similar expressions is intended to identify forward-looking information. Forward-looking information in this news release includes, but is not limited to, the expected strategy to develop the project under the provincial permitting process, targeting the higher-grade 1-million-ounce mineral reserve, building and operating the Fenn-Gib Project, establishing Mayfair as a leading Canadian gold company, and all disclosure related to the PFS, including expected commencement of construction and production. Although Mayfair Gold believes that the expectations reflected in such forward-looking information is reasonable, readers are cautioned that actual results may vary from the forward-looking information. The Company has based the forward-looking information on the Company’s current expectations and assumptions about future events. This information also involves known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties, and other factors identified in the annual information form and Form 40-F of the Company for the year ended December 31, 2025, available under the Company's profiles on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov, respectively. Furthermore, the forward-looking information contained in this news release is as at the date of this news release, and Mayfair does not undertake any obligation to publicly update or revise any of this forward-looking information except as may be required by applicable securities laws.  

Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please visit www.mayfairgold.ca or direct enquiries to: 

Drew Anwyll, P.Eng.
 CEO, Mayfair Gold Corp.
 489 McDougall St

Matheson, ON P0K 1N0 Canada
 +1 (855) 350-5600
info@mayfairgold.ca

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

[1] Please refer to the technical report entitled “Fenn-Gib Gold Project NI 43-101 Technical Report and pre-Feasibility Study” dated effective December 19, 2025 available on SEDAR+ at www.sedarplus.ca for further details.

[2] Free cash flow does not have a standardized meaning and may not be comparable to similar

measures presented by other issuers, referred to as non-GAAP financial measures. As the Corporation is not in production, the Corporation does not have historical non-GAAP financial measures nor historical comparable measures under IFRS, and therefore the foregoing prospective non-GAAP financial measures may not be reconciled to the nearest comparable measures under IFRS.

With the ROD now issued, early works construction at South Railroad has begun. Applications for key state permits and water rights have also been submitted.

Jason Simpson, President of Equinox Gold, commented: “Receiving the Record of Decision is a major milestone for the South Railroad project and advances our next phase of growth. The incremental production from South Railroad will be the first meaningful contributor towards our objective of adding 800,000 ounces of annual gold production from our organic development pipeline. Our Board of Directors had previously approved the start of construction, and with the Record of Decision now in hand, South Railroad is positioned for first gold production in 2028. We thank the Bureau of Land Management, Secretary of the Interior Burgum, the U.S. Administration, and the Permitting Council for their support of the Project, including its designation as a FAST-41 covered project, and for their commitment to responsible domestic mineral development.”

South Railroad will be an open-pit heap leach mine. Based on the 2026 feasibility study, the Project is expected to produce an average 130,000 ounces of gold annually over the first five years of operation, and more than 100,000 ounces annually over the initial 10-year mine life. Initial capital costs are estimated at $395 million, including $70-

$80 million reflected in Equinox Gold’s updated 2026 Guidance. The Project is situated within a larger 25,000-hectare land package along Nevada’s prolific Carlin Trend, which provides opportunities for resource growth and new discoveries.

Construction Milestones for Remainder of 2026

Several key construction milestones targeted for completion this year include:

• Workforce ramp-up: As part of operational readiness, hiring and onboarding of site operations team are advancing through the second half of this year.
• Detailed engineering: Engineering is 55.2% complete.
• Ordering and procurement: Major contracts for power generation, process plant equipment, concrete and structural steel have been awarded.
• Construction acceleration: Early works commenced earlier this summer on the north access road outside of the BLM Plan of Operations in coordination with Elko County, Nevada. Earthworks and major civil construction activities have commenced following the receipt of the ROD.
• Equipment: Mining equipment will begin arriving on site at year-end, with initial mining activities scheduled to start in spring 2027.

About Equinox Gold

Equinox Gold (TSX: EQX, NYSE-A: EQX) is a Canadian mining company positioned as the new North American senior gold producer with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Guided by a seasoned leadership team with broad expertise, the Company is focused on disciplined execution, operational excellence and long-term value creation. Equinox Gold offers investors meaningful exposure to gold with a diversified portfolio and clear path to growth. Learn more at www.equinoxgold.com or contact ir@equinoxgold.com.

Equinox Gold Contact

Etienne Morin, Chief Capital Markets Officer

E: etienne.morin@equinoxgold.com T: +1 604.260.0516

Ingrid Rico, SVP Capital Markets E: ingrid.rico@equinoxgold.com T: +1 604.260.0516

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Qualified Person and Technical Information

The scientific and technical information contained in this news release was approved by Andrew Cormier, Chief Operating Officer for Equinox Gold and a “Qualified Person” under National Instrument 43-101.

For additional information regarding the South Railroad Project, please refer to the technical report titled “South Railroad Project NI 43-101 Feasibility Study Update, Elko County, Nevada” dated February 27, 2026, with an effective date of September 30, 2025, which is available on the Company’s website at www.equinoxgold.com.

Cautionary Notes & Forward-Looking Statements

This news release includes forward-looking information and forward-looking statements within the meaning of applicable securities laws and may include future-oriented financial information or financial outlook information (collectively “Forward-looking Information”). Actual results of operations and the ensuing financial results may vary materially from the amounts set out in any Forward-looking Information. Forward-looking Information in this news release includes: timing and receipt of key state permits and water rights; the Company’s target of 800,000 ounces of additional annual gold production from its development portfolio; timing of first gold; estimates for annual production from South Railroad; initial capital costs for South Railroad; construction and mining milestones for South Railroad; and the prospectivity of the Company’s land package at South Railroad. Forward-looking Information is typically identified by words such as “believe”, “will”, “grow”, “plan”, “expect”, “estimate”, “advance”, “commence”, “continue” and similar terms, including variations like “may”, “could”, or “should”, or the negative connotation of such terms. While the Company believes these expectations are reasonable, they are not guarantees and undue reliance should not be placed on this Forward-Looking information. Forward-looking Information is based on the Company’s current expectations and assumptions, including: receipt and timing thereof of required state permits and water rights to commence South Railroad development; timing and progress of construction, engineering, and procurement;; achievement of exploration, production, cost and development objectives; stable gold prices and input costs in line with the assumptions utilized in the estimation of Mineral Reserves and Mineral Resources;; accuracy of Mineral Reserve and Mineral Resource estimates; availability of funding; adherence to mine plans and schedules; expected ore grades and recoveries; absence of labour disruptions, supply chain disruptions, regulatory delays, legal challenges, or other unplanned delays; productive relationships with workers, unions and communities; maintenance and timely receipt of permits and regulatory approvals; compliance with environmental and safety regulations; optimized operating assumptions and technical parameters, and constructive engagement with community partners. While the Company considers these assumptions reasonable, they may prove incorrect. Forward-looking Information involves numerous risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such Forward-looking Information. Such factors include certain risks and uncertainties described in the section “Risk Factors” in Equinox Gold’s Management Information Circular dated June 19, 2026, and in the section “Risks Related to the Business” in Equinox Gold’s most recently filed Annual Information Form, each of which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Forward-looking Information reflects management’s current expectations for future events and is subject to change. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or other factors affecting Forward-looking Information. If the Company updates any Forward-looking Information, no inference should be drawn that the Company will make additional updates with respect to those or other Forward-looking Information. All Forward-looking Information contained in this news release is expressly qualified by this cautionary statement.

- 2 -

Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) (- https://www.commodity-tv.com/play/newcore-gold-strong-pre-feasibility-study-results-for-the-enchi-gold-project-in-ghana/ -) is pleased to announce the appointment of Ben Collins as Vice President, Projects, effective September 7, 2026. Newcore is also pleased to announce the promotion of Mal Karwowska to the position of Senior Vice President, Corporate Development and Investor Relations.

Luke Alexander, President and CEO of Newcore stated, "We are excited to welcome Ben to our team. His significant experience in study management, team leadership and technical project development positions him well to guide the next phase of our technical programs. Ben was also a member of the consulting team that delivered the recent Pre-Feasibility Study for our Enchi Gold Project (the "Project") in Ghana, and his familiarity and knowledge of the Project positions him well to continue to help drive Enchi’s development forward. Concurrently, I am also pleased that the Board of Directors has recognized Mal’s strong contributions to Newcore since joining the Company in 2020. Mal has played a critical role in building the Newcore brand and raising the Company’s profile within the capital markets, while also being central to the advancements we have made at Enchi over the past six years. This promotion reflects her contributions, hard work, dedication and commitment to creating value for all Newcore stakeholders."

Dr. Collins, Ph.D., P.Eng., has over 15 years of experience in the mining industry, spanning mining engineering, mineral economics, technical studies, project development and environmental management. His career has focused on leading diverse technical teams to deliver multidisciplinary engineering studies, economic assessments, resource estimations, and permitting applications. Prior to joining Newcore, Ben Collins served as Director, Projects at Fuse Advisors (part of SLR), where he led multidisciplinary technical projects and provided owners’-team advisory services. He has also worked closely with executive teams to align technical solutions with corporate strategy and commercial objectives. Dr. Collins holds a PhD in Mineral Economics from McGill University and a Bachelor of Applied Science in Mining Engineering from the University of British Columbia.

Ben Collins, VP, Projects of Newcore stated, "I am excited to be joining the Newcore team with a focus on advancing our Enchi Gold Project in Ghana. Having recently visited Enchi, I had the opportunity to see the quality of the asset first-hand as the team builds on the recently completed Pre-Feasibility Study. With an 80,000-metre drill program underway, focused on discovery and resource expansion, I look forward to helping guide the next phase of technical programs to unlock the significant value potential of our Enchi Gold Project."   

Ms. Karwowska has been promoted to Senior Vice President, Corporate Development and Investor Relations, effective August 21, 2026. Mal joined Newcore in September 2020 as Vice President, Corporate Development and Investor Relations and has since been an instrumental part of the executive management team, managing the Company’s business development and investor relations initiatives. She has 18 years of experience in the mining industry with a focus on capital markets, corporate development, principal investing and investor relations. Her career across investment banking, private equity, and corporate roles provides her with a broad perspective across public markets, private capital, and corporate development within the mining sector. Ms. Karwowska holds a Bachelor of Commerce in Finance and Accounting from the Sauder School of Business at the University of British Columbia.

Newcore also announces the annual grant of equity incentive awards. Newcore has granted 2,170,000 stock options, 2,215,000 restricted share units ("RSUs") and 450,000 performance share units ("PSUs") (together the "Equity Incentive Awards") to employees, consultants, directors and executives of the Company under the Company’s long-term incentive plan. The stock options were granted at a price of $0.33 per share for a period of five years and will vest over a three-year period with one-third vesting after each 12-month period. The RSUs will vest over a three-year period with one-third vesting after each 12-month period. The PSUs will vest after a one-year period based on attendance at quarterly Board of Director meetings. 

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 12% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

(1) Source: Production volumes for 2025 as sourced from the World Gold Council.

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander

President, CEO & Director

For further information, please contact: 

Mal Karwowska | Vice President, Corporate Development and Investor Relations

+1 604 484 4399

info@newcoregold.com 

www.newcoregold.com  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements that contain "forward-looking information" within the meaning of the applicable Canadian securities legislation ("forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases 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 state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future exploration prospects and growth of mineral properties; and the potential expansion or enhancement of mineralization.

These forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made, including, without limitation, assumptions regarding: the ability of ongoing and future exploration programs to further define, expand or upgrade the ability of ongoing and future exploration programs to further define, expand or upgrade mineralization; and the Company’s ability to execute its plans as currently contemplated. Although the Company believes these assumptions to be reasonable based on information currently available, they may prove to be incorrect. 

Forward-looking statements also involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: risks related to the speculative nature of Newcore’s business; Newcore’s stage of development; Newcore’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; fluctuations in general macroeconomic conditions and securities markets; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with mineral exploration, development and mining (including environmental hazards and unusual or unexpected geological formations); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities; and the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities). Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.  

Forward-looking statements contained herein are made as of the date of this news release and Newcore disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements 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 statements.

The Amendment provides the Company with more favourable covenants, reduces the overall cost of capital, and extends the Company's option to settle accrued interest in kind ("PIK") for an additional 12 months. Importantly, following Appian’s review of the results of work completed to date, Appian has confirmed satisfaction of certain key technical conditions precedent to the US$350 million second draw under the Credit Facility, including those related to the Lowhee Zone infill drilling and ore sorting programs, and these conditions have been removed from the Credit Facility pursuant to the Amendment. The second draw remains subject to certain remaining conditions precedent associated with ongoing Project-related construction readiness activities and other customary requirements.

Sean Roosen, Chairman and CEO, commented: "The amended terms of this credit facility provide us with meaningful financial flexibility as we advance the Cariboo Gold Project toward construction readiness. Appian's confirmation that the key technical conditions precedent have been satisfied, including those related to the completed Lowhee infill drilling and ore sorting programs, represents an important validation of the quality of this deposit and the significant de-risking work our team has completed. With the improved economics under the Amendment and US$350 million of additional capital now substantially de-risked, we are well positioned to continue advancing toward our next major development milestones. We thank Appian for its continued partnership and look forward to working together through the next phase of development at Cariboo."

The Amendment provides for a reduction in applicable interest rate margins under the Credit Facility as follows: (i) for the initial draw, 3-month Secured Overnight Financing Rate ("SOFR") plus a margin of 9.00% per annum (reduced from SOFR plus 9.50% per annum), together with the elimination of the 0.10% per annum SOFR adjustment; and (ii) for the second draw and thereafter, SOFR plus a margin of 7.25% per annum (reduced from SOFR plus 7.50% per annum).

All of the existing guarantees, security and other obligations provided for under the Credit Facility remain in full force and effect and have been reaffirmed in connection with the Amendment. Except as expressly amended, all other terms of the Credit Facility remain unchanged. Barkerville paid an amendment fee to Appian in connection with the Amendment.

The description of the Amendment set forth in this news release is a summary only and is qualified in its entirety by the full text of the amended and restated credit agreement dated August 20, 2026 among Barkerville, as borrower, Appian, as lender, TSX Trust Company, as collateral agent, and Appian ODV (Jersey) Ltd., as administrative agent. A copy of the Amendment will be filed on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

About Appian Capital Advisory Limited

Appian Capital Advisory Limited is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries. Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 5,000 employees. Appian has a global team of 88 investment professionals, combining financial and technical expertise, with presences in London, Abu Dhabi, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth. For more information, please visit www.appiancapitaladvisory.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements relate to, among other things: the expected benefits of the Amendment, including reduced interest rate margins, improved covenants, and extended PIK interest settlement options; the anticipated satisfaction of remaining conditions precedent to the second draw under the Credit Facility; the Company’s ability to access the remaining US$350 million available under the Credit Facility; the advancement of construction readiness activities, detailed engineering, procurement, and project de-risking initiatives at the Cariboo Gold Project; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and prospectivity of its properties. Forward-looking statements are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including: the Company’s ability to satisfy the remaining conditions precedent to the second draw under the Credit Facility; the continued availability of financing under the Credit Facility on the terms described herein; the timing and successful completion of the second draw; the Company’s ability to advance the Cariboo Gold Project through construction readiness on the anticipated timeline and budget; the continued support of Appian and the absence of any event of default under the Credit Facility; the ability to develop the Cariboo Gold Project and its status as being fully permitted; the Company’s objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties. Such forward-looking statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. These assumptions include, but are not limited to: the absence of any work stoppages or suspensions at the Company's projects; favourable regulatory conditions and approvals; the ability to maintain adequate personnel and contractor levels; the absence of unforeseen ground conditions or other geological challenges; the availability of necessary equipment, supplies and infrastructure; and general economic and market conditions. Actual results could differ materially due to a number of factors, including, without limitation: failure to satisfy remaining conditions precedent to the second draw under the Credit Facility; changes in the terms of the Credit Facility or the occurrence of an event of default thereunder; risks related to the exploration, development and operation of the Cariboo Gold Project; changes in estimated project costs, development timeline, or construction schedule; health, safety and security incidents; regulatory delays or changes in regulatory framework and applicable laws; labour shortages or disputes; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; changes in interest rates affecting the cost of borrowing under the Credit Facility; as well as those risks and factors disclosed in the Company's most recent annual information form, financial statements and management's discussion and analysis as well as other public filings on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov). Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements 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 statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

NOTICE OF CONSTRUCTION APPROVED FOR THE TAILINGS STORAGE FACILITY 

The plans and specifications for the Project's tailings storage facility were previously approved by the Nevada State Engineer, and the facility as designed is authorized under the WPCP and Reclamation Permit. The Company completed a formal design review with an independent third-party engineering firm and, following direct engagement with the Nevada Division of Water Resources' (“NDWR”) Dam Safety Section, filed a Notice of Construction together with the technical review memorandum at the agency's direction. The Company received formal approval of the Notice of Construction on August 18, 2026, allowing construction of the tailings dam to begin on schedule. 

Christian Kargl-Simard, CEO of Blue Moon, stated: “Since closing the purchase of Springer in February, our team has worked swiftly and diligently to advance the project. With these permits in hand, we are ready to start construction and on-track for a late 2027 startup, bringing tungsten production back to the United States. Springer will bring jobs and economic growth to Pershing County, reduce U.S. dependency on tungsten imports, and marks an important step in Blue Moon's growth as a critical minerals producer.”

Qualified PersonThe technical and scientific information of this news release has also been reviewed and approved by Mr. Reza Ehsani, P.Eng., a Blue Moon Officer, and a non-Independent Qualified Person, as defined by NI 43-101.About Blue MoonBlue Moon is advancing 5 brownfield polymetallic projects, including the Nussir copper-silver-gold project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper project in the United States. All 5 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU lists of metals critical to the global economy and national security, and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Limited, funds managed by Oaktree Capital Management, Hartree Partners, LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company’s website (www.bluemoonmetals.com).      For further information:

Blue Moon Metals Inc.

Christian Kargl-Simard

CEO and Director

Phone: (416) 230 3440

Email: christian@bluemoonmetals.com 

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and U.S. securities laws. All statements included herein that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking information may in some cases be identified by words such as “will”, “anticipates”, “expects”, “intends” and similar expressions suggesting future events or future performance. 

We caution that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change, including the timing to production, capital costs, other required permits and the price of tungsten. Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represents management’s current expectations and are based on information currently available to management, and are subject to change after the date of this news release. We are under no obligation (and we expressly disclaim any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.                                                                                                       

Forward-looking information is provided herein for the purpose of giving information about the Project and its expected impact. Readers are cautioned that such information may not be appropriate for other purposes.

A comprehensive discussion of other risks that impact Blue Moon can also be found in its public reports and filings which are available at www.sedarplus.ca. 

Pursuant to the definitive agreement, IsoEnergy contributed its portfolio of permitted, past-producing conventional uranium mines in Utah, comprising the Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, and Flatiron Project (the "Utah Portfolio") to DISA Uranium, in exchange for 1,677,350 shares of Common Stock of the Company (the "Transaction"). DISA Uranium combined IsoEnergy's Utah Portfolio with DISA's proprietary HPSA™ technology and remediation and recovery business.Concurrent with the closing of the Transaction, DISA Uranium closed on the commitments for its previously announced US$105 million private placement financing (the “Financing”), with participation from Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs and Veriten. IsoEnergy invested US$33 million in the Financing. Following completion of the Transaction and Financing, IsoEnergy owns approximately 33% of DISA Uranium on a fully diluted basis and is DISA Uranium’s largest shareholder.

Philip Williams, Chief Executive Officer and Director of IsoEnergy, commented, “The completion of this Transaction unlocks the value of our Utah Portfolio while providing IsoEnergy with meaningful exposure to a differentiated U.S. uranium platform. As DISA Uranium’s largest shareholder, we are excited to support its growth and participate in the significant opportunity ahead.”

Greyson Buckingham, Chief Executive Officer of DISA Uranium, commented, “The completion of this Transaction marks an important step in building DISA Uranium into a leading U.S. uranium company. With established uranium assets, innovative technology that unlocks a substantial stranded asset and strong financial backing, we are excited to advance our strategy and capitalize on the significant opportunity ahead.”

Effective as of closing of the Transaction and Financing, the Board of Directors of DISA Uranium now consists of seven directors, including IsoEnergy Board of Directors Chairman Richard Patricio, IsoEnergy CEO and Director Phillip Williams, Tembo Capital Partner George Pyper as well as current members of the DISA Board of Directors, Greyson Buckingham, Scott Saxberg, Marty Reed, and former U.S. NRC Commissioner Jeffrey Merrifield.With the Transaction complete, DISA Uranium intends to advance a multi-pronged strategy focused on deploying its HPSA technology to recover uranium from abandoned mine waste, bringing conventional U.S. uranium production back online, and developing domestic processing capacity. The Tony M Mine is expected to be a near-term priority within the Utah Portfolio, alongside the advancement of DISA Uranium’s remediation activities and broader development strategy.

For additional information regarding the Transaction, please refer to the companies’ news releases dated August 4, 2026.

About DISA Uranium

DISA Uranium™ Corporation (DISA Uranium) is redefining American uranium recovery and production. Headquartered in Casper, Wyoming, the veteran-led Company recovers uranium and vanadium from abandoned uranium mine (AUM) waste, remediates legacy sites left across the western United States, and applies its exclusive, patented   HPSA™ technology to make conventional uranium production cleaner, more efficient, and more economic. DISA Uranium holds the only U.S. Nuclear Regulatory Commission (NRC) license to treat and recover AUM waste across multiple sites — and with a growing conventional resource base behind it, the Company is building the domestic capacity to turn American waste and American ore into American fuel. Its mission is simple: restore the past while powering the future, and rebuild a secure, independent domestic uranium supply chain.

About IsoEnergy Ltd.

 IsoEnergy (NYSE American: ISOU; TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada’s Athabasca basin, which is home to the Hurricane deposit, boasting the world’s highest-grade indicated uranium mineral resource. 

For More Information, Please Contact:

IsoEnergy Ltd. 

Philip Williams

CEO and Director
 info@isoenergy.ca 
 1-833-572-2333

X: @IsoEnergyLtd

www.isoenergy.ca

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

DISA Uranium™ Corporation

Media Contact
 Kristin Walker, Chief External Affairs Officer
 k.walker@disausa.com 

307-690-4705

www.disauranium.com 

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, referred to as “forward-looking information”). Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. This forward-looking information may relate to the Transaction, including statements with respect to the anticipated benefits of the Transaction; the future prospects of the Company; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions concerning the accuracy of management’s assessment of the effects of the successful completion of the Transaction and that the anticipated benefits of the Transaction will be realized; the anticipated mineralization of IsoEnergy’s projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned activities will be available on reasonable terms and in a timely manner. Although the companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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. 

Such statements represent the current views of the companies with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the companies, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the inability of DISA Uranium to realize the benefits anticipated from the Transaction and the timing to realize such benefits; changes to IsoEnergy’s and/or DISA Uranium’s current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of DISA Uranium’s business; negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry, and general economic and political conditions in Canada, the United States and other jurisdictions where the companies conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in IsoEnergy’s most recent annual management’s discussion and analysis and annual information form and IsoEnergy’s other filings with the securities regulators which are available under IsoEnergy’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. The companies do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Tony Makuch, Discovery’s President, CEO and Chairman, commented: “Exploration drilling at Borden continues to generate excellent results. Borden includes an extensive land position in a highlyprospective, under explored, greenstone belt in the Abitibi. Today’s results include further progress with resource conversion and expansion drilling in the Main and East Lower zones, where we continue to produce intersections that as good, or better, than those included the current resource model. In addition, we have been ramping up surface drilling to begin accessing Borden’s larger-scale potential of growth. Early results from surface drilling have been very encouraging, including returning intersections that extend the Main Zone by over half a kilometre down plunge to the northeast from the current inferred resource. These results highlight the prospectivity of the area and are a great start to our plan to build-out the Borden operation. We plan to continue drilling to the northeast to find additional extensions as work to demonstrate that there is much more gold to be discovered on our 1,000 km² land position in the Abitibi near Chapleau.”  

Drilling at the Borden Mine included a total of 22 holes (7,411.6m) from surface and underground to convert and expand resources in the Main Zone and East Lower Zone, near the northeast limit of inferred resources (Figures 1, 2 and 3).  

Link to 3D Visuals: https://vrify.com/decks/23611?auth=a727fee7-ac0e-4d36-8728-7e60aa2614fd 

The Borden Mine is located approximately 190 km southwest of the Dome Mill, near Chapleau and in the south portion of the Borden Lake Greenstone Belt. The Main Zone is an east-west trending structure located along the east - west trending Genesis Deformation Zone (“GDZ”) adjacent to a major contact between felsic gneiss and amphibolite. Work to date has traced the zone for a strike length of over 1.7 km along strike and indicates the zone is closely associated with quartz veining, biotite-garnet alteration and pyrite. The ELZ is a parallel trending, and less explored, structure located approximately 500 m to the west of the Main Zone where recent work indicates potential for significant upside.       

Drilling at the Main Zone included 1 hole (1,344) completed from surface and 14 holes (4,187.6 m) drilled from underground.  

Drilling from underground included was completed from cut outs located in the east portion of the 585exploration drift, situated in the hanging wall of the zone and continued to demonstrate extremely positive results including intercepts of  9.16 gpt over 25.9m including 18.40 gpt over 4.0m and including 21.52gpt over 4.8m, in 585-00275; 12.79 gpt over 7.3m, including 18.45 gpt over 4.4m in hole 585-00142; 6.11 gpt over 3.2m, in hole 585-00130; 7.01 gpt over 10.2m, in 585-00148; 4.75gpt over 19.3m, including 7.90 gpt over 5.0m, in hole 585-00305; and 9.23 gpt over 14.0m, including 13.41 gpt over 8.3m, in hole 585-00306 (Table 1). Holes 585-00142 and 585-00130 were drilled approximately 100 meters down plunge of the current inferred resource and holes 585-00305 and 58500306 were drilled 75 to 100 meters to the east. 

Hole BL26-001119, drilled from surface, targeted 350 meters along strike from the current resource and achieved positive results with an intercept of 6.34 gpt over 8.7m, including 11.04 gpt over 3.7m. 

Drilling at the East Lower Zone included 7 holes (1,880 m) completed from two drill bays located on the 585 level to confirm and evaluate expansion potential near the lower limits of the zone. Significant results include: 6.92 gpt over 12.9m, including 9.16 gpt over 7.3m, in hole 585-00292; 13.33 gpt over 13.2m, including 31.04 gpt over 4.7m, in hole 585-00291; 5.25 gpt over 15.4m, including 10.09 gpt over 5.5m, in hole 585-00298; 10.21 gpt over 3.9m, in hole 585-00294; and 3.59 gpt over 17.4, in hole 585-00290, which are located near the limit of the current inferred resource. The zone remains open to depth.  

Review of the above drill results indicate that both the Main Zone and East Lower Zone are trending close to plan and with grades and widths that are similar to, or better than, the current resource model. These results, along with new intercepts located down plunge and to the northeast continue to demonstrate the excellent potential for further resource growth as drilling continues.  

The program is continuing with four underground drills working to convert and extend resources. Work is also continuing to advance the 585-exploration drift to the northeast to provide new drill platforms for future drilling. Two surface drills are also operating in the area northeast of the Main Zone. 

Table   1: Intercepts from Borden Underground Mine^1,2,3                      

1. All assays are reported uncut.
2. Intervals are reported using both true widths and core lengths. 
3. Holes 585-00131 and 585-00140 are not included in the above table as they had low grade values
4. Borden Mine 

1. Borden Mine – Deep Main Zone 

1. Borden Mine – East Lower Zone “ELZ” 

QUALIFIED PERSONS 

Discovery’s exploration programs at Borden are conducted under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration, Kara Byrnes, P. Geo, Vice President, Exploration and Geology – Porcupine and Craig Yuill, P.Geo., Exploration Manager. Mr. Kallio, Ms. Byrnes and Mr. Yuill are “qualified persons” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators, and have reviewed and approved the scientific and technical information in this news release. 

Readers are referred to the mineral resource estimate as set out in the Company’s current technical report entitled “Porcupine Complex, Ontario, Canada NI 43-101 Report on Preliminary Assessment” with an effective date of January 13, 2025 (the “Technical Report”), which is available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca. Statements concerning mineral resource estimates may also be deemed to constitute forward looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. The Technical Report includes the results of a preliminary economic assessment which is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized.  

QA/QC CONTROLS 

The Company follows a quality assurance and control (“QA/QC”) program to ensure that sampling and analysis of all exploration work is conducted in accordance with best practices.

At Borden, samples are logged and sampled in a secure facility in Chapleau, Ontario and under supervision of Qualified Geologists. NQ sized core is predominantly sawn in half with one half of the core prepared for shipment, the other half of core retained for future assay verification. Certified reference material (CRM) standards, coarse blank material and duplicates are inserted every 20 samples. Core samples are picked up by Activation Laboratories and tracked via a chain of custody from site to the certified off-site analytical laboratory for preparation and assaying. 

Discovery utilizes the accredited external lab Activation Laboratories to manage its core analysis. 

ActLabs is certified by the Standards Council of Canada which conforms with ASB-RG Mineral Analysis Laboratory for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025: General Requirements for the Competence of Testing and Calibration Laboratories.  

Sample preparation includes crushing drill core up to 80% passing 2 mm, riffle splitting 500 grams and pulverizing to 95% passing 105 µm followed by both scheduled and specifically requested silica sand cleaning. Gold Analysis involves Fire Assay – Atomic Absorption technique from a 50-gram pulp sample with grade ranges between 5 to 10,000 ppb. Samples greater than 10,000 ppb are analyzed with a gravimetric finish. Selected high grade samples are also analyzed using the screen metallics procedure. 

ABOUT DISCOVERY 

Discovery Mining Ltd. is a growing precious metals company that is creating value for stakeholders through exposure to gold, silver and other critical minerals. Discovery is advancing plans to more than double annual gold production through investment in the Company’s Porcupine assets, which include multiple operations, attractive growth projects and significant exploration upside in one of the world’s most renowned gold camps in and near Timmins, Ontario. The acquisition of the Kidd Operations in June 2026 further increased Discovery’s land position within the camp, provided valuable infrastructure that will support the Company’s growing gold business, and added critical minerals to the Company’s current production profile. Discovery’s silver exposure comes mainly from the 100%-owned Cordero project, one of the world’s largest undeveloped silver deposits, which is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.  

On Behalf of the Board of Directors, 

Tony Makuch, P. Eng 

President, CEO & Chairman 

For further information contact:                                                    

Mark Utting, CFA 

SVP Investor Relations 

Phone: 416-806-6298 

Email: mark.utting@dsvmining.com Website:www.dsvmining.com  

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Statements include but are not limited to the resource conversion and expansion drilling at the Borden mine site, the ability to build out the Borden mine site and develop a camp operation, along with the anticipated timing and associated benefits therewith; ; the anticipated results and timing associated with the updated exploration program at the Porcupine Complex; the ability to make new discoveries across the broader property;   the timing associated with a new mineral resource update planned in 2026 and the anticipated benefits thereof; the ability to convert and extend mineral resources at Pamour; the development of the Porcupine Operations and its attractive economics and significant exploration upside; construction decision and development, the results of the Technical Report and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, the method of mining the Porcupine Operations, payback period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the assets, anticipated mining and processing methods, feasibility study production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, the completion of key de-risking items, including the timing of receipt permits, availability of water and power, availability of labour, job creation and other local economic benefits, tax rates and commodity prices that would support development of the Project, and other statements that express management's expectations or estimates of future performance, operational, geological or financial results Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the feasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties.  

Factors that could cause actual results to differ materially from those described in forward-looking statements include the completion of the drill programs and the results thereon, the ability to complete the required drilling on a timely basis and the impact of the completion of such drill programs on the ability for the Company to prepare an updated resource estimate in 2026; fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market access restrictions or tariffs, changes in U.S. laws and policies regarding regulating international trade, including but not limited to   changes to or implementation of tariffs, trade restrictions, or responsive measures of foreign and domestic governments, changes to cost and availability of goods and raw materials, along with supply, logistics and transportation constraints, changes in general economic conditions including market volatility due to uncertain trade policies and tariffs, , the actual results of current and future exploration activities; changes to current estimates of mineral reserves and mineral resources; conclusions of economic and geological evaluations; changes in project parameters as plans continue to be refined; the speculative nature of mineral exploration and development; risks in obtaining and maintaining necessary licenses, permits and authorizations for the Company’s development stage and operating assets; the accuracy of historical and forward-looking operational and financial information estimates provided by Newmont; the Company’s ability to integrate the Porcupine Operations; statements regarding the Porcupine Operations, including the results of technical studies and the anticipated capital and operating costs, sustaining costs , internal rate of return, concession or claim renewal, the projected mine life and other attributes of the Porcupine Operations, including net present value, the timing of any environmental assessment processes, reclamation obligations; operations may be exposed to new diseases, epidemics and pandemics, including any ongoing or future effects of COVID-19 (and any related ongoing or future regulatory or government responses) and its impact on the broader market and the trading price of the Company’s shares; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for operations) in Canada and Mexico, all of which may affect many aspects of the Company's operations including the ability to transport personnel to and from site, contractor and supply availability and the ability to sell or deliver mined silver; changes in national and local government legislation, controls or regulations; failure to comply with environmental and health and safety laws and regulations; labour and contractor availability (and being able to secure the same on favourable terms); disruptions in the maintenance or provision of required infrastructure and information technology systems; fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates and may be impacted by unscheduled maintenance); changes in foreign exchange rates (particularly the Canadian dollar, U.S. dollar and Mexican peso); the impact of inflation; geopolitical conflicts; employee and community relations; the impact of litigation and administrative proceedings (including but not limited to mining reform laws in Mexico) and any interim or final court, arbitral and/or administrative decisions; disruptions affecting operations; availability of and increased costs associated with mining inputs and labour; delays in construction decisions and any development of the Porcupine Operations; changes with respect to the intended method of mining and processing ore from the Porcupine Operations; inherent risks and hazards associated with mining and mineral processing including environmental hazards, industrial accidents, unusual or unexpected formations, pressures and cave-ins; the risk that the Company’s mines may not perform as planned; uncertainty with the Company's ability to secure additional capital to execute its business plans; contests over title to properties; expropriation +or nationalization of property; political or economic developments in Canada and Mexico and other jurisdictions in which the Company may carry on business in the future; increased costs and risks related to the potential impact of climate change; the costs and timing of exploration, construction and development of new deposits; risk of loss due to sabotage, protests and other civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; and business opportunities that may be pursued by the Company. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading "Risks Factors" in the Company’s Annual Information Form dated February 19, 2026, and the Company’s technical report (the “Technical Report”) entitled “Porcupine Complex, Ontario, Canada NI 43-101 Report on Preliminary Assessment” with an effective date of January 13, 2025, which is available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.  

Preliminary Economic Assessment Disclaimer: The Technical Report includes the results of a preliminary economic assessment which is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. Readers should refer to the full text of the Technical Report related to Mineral Resources and Mineral Reserves estimates as filed on www.sedarplus.ca.  

2026 Program Highlights

• Uranium mineralization encountered across Rustler: Thirteen of 22 holes drilled in the Rustler target area (drill holes RT26-082 through RT26-104) encountered uranium mineralization at grades of 0.02% eU₃O₈ or higher (Table 1). Notably, hole RT26-085 intersected 3.5 ft grading 0.135% eU₃O₈, including 2 ft grading 0.204% eU₃O₈, confirming the presence of uranium mineralization within the system.
• Two distinct mineralized sandstone units identified at Rustler: Drilling has confirmed uranium mineralization within two separate sandstone units in the lower Wasatch Formation, the principal host formation for uranium deposits in the adjoining Pumpkin Buttes mining district. Uranium mineralization has been encountered in both sands, and gamma ray borehole geophysical log results indicate possible stacked roll fronts in the upper unit. Oxidation states of the two sandstone units indicate that the two mineralized systems are independent of one another, with the redox boundary in the lower sand unit well to the east of the redox boundary in the upper sand, providing multiple prospective trends for ongoing exploration (Figure 2).
• Additional uranium mineralization encountered at Outpost: Seven of 27 holes completed (drill holes LT26-074 through LT26-100) at the Outpost target encountered uranium mineralization grading 0.02% eU₃O₈ or higher (Table 1 and Figure 3).
• Growing geological model guiding ongoing drilling: Combined 2025 and 2026 results at Rustler are providing an increasingly detailed picture of subsurface channel geometry and associated mineralized trends. Radiometric assay results and borehole geophysical data are being incorporated in real time to refine the geological model and guide subsequent drill locations.

Colin Healey, CEO of PUR commented, “We’re seeing good success from our 2026 program at Kaycee, with nearly half of the planned 100,000 feet of drilling now complete. With approximately 430 miles of interpreted roll fronts, we believe we are just beginning to unlock the potential of this large mineralized system. This year’s drilling is focused on systematically testing that potential, identifying the extents of mineralization in the targeted areas and identifying the areas with the greatest opportunity to build pounds. The results at Rustler are particularly encouraging, with mineralization identified in two distinct sandstone units and indications of potentially stacked roll fronts. As we continue drilling, our goal is to advance these mineralized trends and build the geological understanding needed to ultimately define a meaningful uranium resource at Kaycee.”

Table 1. 2026 Kaycee Significant Intercepts

Notes: Drill holes reported here encountered uranium mineralization at or above a cut-off grade of 0.02% eU₃O₈. All grades were calculated from gamma-ray logs measured by Hawkins CBM Logging of Casper, Wyoming, which is independent of the Company. The geophysical results are based on equivalent uranium (eU₃O₈) of the gamma-ray probes which are calibrated at the Department of Energy’s test facility in Casper, Wyoming. Uranium grades cited are calculated from gamma-ray logs, and the cited grades are “equivalent” (“e”) grades of U₃O₈ %. eU₃O₈ is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium. No corrections were made for radiometric disequilibrium. Numerous comparisons of eU₃O₈ and chemical assays of PRB core samples indicate that eU₃O₈ is a reasonable indicator of the actual uranium assay. All drill holes are vertical in orientation and the geologic units hosting the uranium mineralization are generally very flat lying, therefore reported thicknesses represent true thicknesses.

Figure 1. Kaycee Project Key Targets in 2026

Figure 2. Rustler 2026 Drill Holes 

Figure 3. Outpost 2026 Drill Holes 

Kaycee Project
 

The Kaycee Project in Wyoming's Powder River Basin (PRB) consists of over 42 square miles of mineral rights over a 36-mile mineralized trend hosting more than 110 miles of identified roll fronts (Figure 4). The Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Project represents the largest grass-roots ISR exploration project in the United States, with upwards of 400,000 ft of drilling completed since 2023.

PUR anchors one of the strongest exploration portfolios in Wyoming, combining its Cyclone Project in the Great Divide Basin with Kaycee to drive one of the largest ongoing drilling programs in the state and significantly expand its presence in both of the state’s major ISR-amenable uranium districts.

Figure 4. PUR’s Wyoming exploration portfolio, highlighting the Kaycee Project in the Powder River Basin and the Cyclone Project in the Great Divide Basin. Active exploration is currently underway at both projects.

Qualified Person Statement

The scientific and technical information contained in this news release was reviewed and approved by J.J. Brown, P.G., SME-RM, PUR’s Vice President Exploration, who is a “Qualified Person” as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Ms. Brown has verified the data disclosed in this news release, including sampling, analytical, and test data underlying the information contained herein.

The drilling results cited in this news release were derived from conventional mud rotary drill holes and continuously recorded geophysical responses (gamma-ray, spontaneous-potential, and single point resistivity) from a borehole geophysical probe. The mineralized zones are flat lying and the individual drill holes are vertical in orientation, and the thicknesses cited in this release are considered to be true thicknesses. Grades of mineralization reported were calculated from the gamma-ray logs following a procedure that was first developed in the early 1960s and is standard practice in the uranium industry. The borehole geophysical logging was carried out by Century Geophysics of Tulsa, Oklahoma, a highly experienced and skilled geophysical contractor with a well-established history of providing reliable and accurate data. 

Other information regarding the Company’s Kaycee Project, including with respect to the Quality Assurance and Quality Control measures applied during the work program can be referenced from the “Technical Report for NI 43-101 Kaycee Uranium Project, Johnson County, Wyoming USA”, dated September 21, 2025, which is available under the Company’s profile on SEDAR +, at www.sedarplus.ca.

About Premier American Uranium Inc.

Premier American Uranium is focused on consolidating, exploring, and developing uranium projects across the United States to strengthen domestic energy security and advance the transition to clean energy. The Company’s extensive land position spans five of the nation’s top uranium districts, with active work programs underway in New Mexico’s Grants Mineral Belt and Wyoming’s Great Divide and Powder River Basins.

Backed by strategic partners including Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and other leading institutional investors, PUR is advancing a portfolio supported by defined resources and high-priority exploration and development targets. Led by a distinguished team with deep expertise in uranium exploration, development, permitting, operations, and uranium-focused M&A, the Company is well positioned as a key player in advancing the U.S. uranium sector.

For More Information, Please Contact:

Premier American Uranium Inc.

Colin Healey, CEO

info@premierur.com

Toll-Free: 1-833-223-4673

Twitter: @PremierAUranium

www.premierur.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding Forward-Looking Information
 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements with respect to, additional exploration activities planned for 2026, the anticipated results thereof and the anticipating timing for reporting of such results; future prospects for exploration; the potential for mineral resource identification at the Project; expectations regarding the transition to clean energy in the US; and other activities, events or developments that are expected, anticipated or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on our current expectations, beliefs, assumptions, estimates and forecasts about PUR’s business and the industry and markets in which it operates. Such forward-information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, the completion, timing and results of planned exploration activities being consistent with expectations, the anticipated mineralization being consistent with expectations, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by PUR in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Premier American Uranium to differ materially from any projections of results, performances and achievements of Premier American Uranium expressed or implied by such forward-looking information or statements, including, among others: limited operating history, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, delays or failure to obtain required permits and regulatory approvals, changes in mineral resources, no known mineral reserves, aboriginal title and consultation issues, reliance on key management and other personnel; potential downturns in economic conditions; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; changes in laws and regulation, competition, and uninsurable risks and the risk factors with respect to Premier American Uranium set out in the documents of PUR filed with the Canadian securities regulators and available under PUR’s profile on SEDAR+ at www.sedarplus.ca.

Although PUR has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. PUR undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

VANCOUVER, BC, August 17, 2026 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V: BYN) (OTCQB: BYAGF) - https://www.commodity-tv.com/ondemand/companies/profil/banyan-gold-corp/ - is pleased to announce it has intersected very high-grade gold (“Au”) mineralization in the northern portion of the Powerline Deposit (“Powerline”), highlighting the potential to upgrade mineralized domains and expand the high-grade core of the Powerline Deposit, AurMac Project (“AurMac”), Yukon, Canada. Drillhole AX-26-874 intersected 13.03 g/t Au over 14.2 metres, including 142.70 g/t Au over 1.0 metre, extending high-grade mineralization toward the largely undrilled gap between the Powerline and Airstrip Deposits (Figure 1). Much of this area is currently classified as unmineralized in the Mineral Resource model. The results are part of Banyan’s ongoing 2026 drill program at AurMac, focused on resource conversion, expansion and delineation of higher-grade mineralized domains within and adjacent to the current resource envelope.

Highlights from Powerline North:

AX-26-874 - 13.03 g/t Au over 14.2 metres (“m”), (true width 90% - 12.8m)

1. including 18.10 g/t Au over 1.5m,
2. 142.7 g/t Au over 1.0m,
3. and 12.77 g/t Au over 1.2m; and,
4. 0.80 g/t Au over 54.5 m including 6.39 g/t Au over 1.5m.

AX-26-832 – 1.17 g/t Au over 11.2m within 0.57 g/t Au over 26.1m 

1. including high-grade of 7.40 g/t Au over 1.0m

AX-26-840 – 1.86 g/t Au over 13.9m, 

1. including high-grade of 22.30 g/t Au over 1.0m; and,
2. 0.42 g/t Au over 59.0m, including high-grade of 13.90 g/t Au over 0.5m

AX-26-871 – 1.42 g/t Au over 13.5m 

1. including high-grade of 16.03 g/t Au over 0.6m, 4.07 g/t Au over 0.4m and 9.81 g/t Au over 0.3m

“The 13.03 g/t Au over 14.2 metres intersected in AX-26-874 is an exceptional result, while its location is equally important,” stated Tara Christie, President & CEO. “This intercept extends high-grade mineralization into the largely undrilled gap between Powerline and Airstrip, an area currently classified as unmineralized in the resource model. Our 2026 program is designed not only to convert resources, but also to identify these higher-grade domains and demonstrate the potential to increase both contained ounces and the overall grade profile at AurMac.”

The high-grade interval in AX-26-874 is characterized by a high density of extensional quartz veins with bismuth sulphosalts, arsenopyrite and pyrite, together with multiple occurrences of visible gold. The 142.70 g/t Au over 1.0 m interval is associated with a locally brecciated extensional quartz vein containing coarse-grained to semi-massive arsenopyrite (Figure 5).

Figure 1: Plan map of AurMac, Yukon, Canada. Drillholes in this release highlighted in blue (Figure 2). Pending results in green. All other diamond drilling is in black. The gaps between Airstrip and Powerline fall within the conceptual pit boundary but remain largely undrilled except for the two fences of drilling in the centre and eastern end of the area.

Figure 2: Plan map of Powerline North. Drillholes in this release highlight the potential to extend and delineate new high-grade zones in the core of Powerline (Figures 3 and 4). Drillholes AX-26-832, -840, -845, and -850 drill off angle to test continuity of mineralization below the substation infrastructure.

Figure 3: Cross-section 467100mE from Powerline North at AurMac. Mineralized domains are overlaid on the lithologic model. Mineralization remains open up-dip toward the largely undrilled gap between the Airstrip and Powerline Deposits and at depth. The high-grade interval in AX-26-874 (Figure 5) highlights the potential to extend mineralized domains beyond the current resource model and to identify additional mineralization within areas currently estimated at low grade or as unmineralized within the conceptual pit shell. The MRE block model is constrained by mineralized and lithologic domains. Mineral Resource blocks are 10m x 10m x 5m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.

Lithologic domains at Powerline are dominated by metasedimentary rocks of various compositions, typically mica-chlorite schists with varying calcareous content. Domains shown in this section are: CLSR_4 and 5 – chlorite-sericite schist; CSCH_1 and 3 – calcareous schist; and sch_2 – heterogeneous schist. 

Figure 4: Cross-section 466900mE from Powerline North at AurMac. Mineralized domains are overlaid on the lithologic model. Mineralized domains are open up-dip and at depth, with potential to expand the mineralized envelope at depth. The MRE block model is constrained by mineralized domains and the lithologic domains. Mineral Resource blocks are 10m x 10m x 5m. Only blocks above the 0.30 g/t Au cutoff and within the US$3,500/oz Au conceptual pit shell are included in the MRE.

Figure 5: Mineralized extensional quartz veins in metasedimentary rocks in Powerline North from diamond drillhole AX-26-874. High density of extensional quartz veins with bismuth-sulphosalts, arsenopyrite, and pyrite found throughout the mineralized interval from 160.0-174.2m, which graded 13.03 g/t Au over 14.2m and hosts several instances of visible gold mineralization (Figure 6). Locally, very high-grade gold intersection of 142.70 g/t Au over 1.0m is associated with locally brecciated quartz extensional vein with coarse-grained to semi-massive arsenopyrite. 

Figure 6: Visible gold occurrences in drillhole AX-26-874: Top left, gold grains intergrown with bismuth sulphosalts – 39.4m. Top right, gold grains intergrown with coarse-grained pyrite – 39.5m. Bottom left, gold grains in extensional quartz vein with spatially associated bismuth sulphosalts – 56.5m. Bottom right, visible gold grain intergrown with semi-massive pyrite – 39.6m

Table 1: Intervals from Powerline North

Note: Calculated true widths are approximate and vary by drillhole; see table 2

Table 2: Collars for diamond drillholes in this release

Analytical Method and Quality Assurance/Quality Control Measures

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified reference materials, field duplicates and coarse blanks into the sample stream and utilizing certified independent analytical laboratories for all assays. Additionally, historic QA/QC data and methodology on the AurMac Project were reviewed and are summarized in the Technical Report‎. The Qualified Person detected no significant QA/QC issues during review of the data.

A robust system of standards, core duplicates and coarse blanks was implemented in all Banyan drilling programs and was monitored as chemical assay data became available. All control samples were within accuracy and precision thresholds required to meet data quality standards. These control samples amounted to approximately 10% of all samples submitted to analytical laboratories.

All diamond drill core was systematically logged and photographed by Banyan geology personnel.  All core samples (HTW and NTW diameter) were split on-site at Banyan’s core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas’s Analytical laboratory in Vancouver, B.C. for pulverization and final chemical analysis.  

Core splits reported in this news release were analysed by Bureau Veritas of Vancouver, B.C., utilizing the four-acid digestion ICP-ES 35-element MA-300 or ICP-ES/MS 59-element MA-250 analytical package with FA-450 50-gram Fire Assay with AAS finish for gold on all samples.  Samples returning >10 g/t Au were reanalysed by fire assay with gravimetric finish on a 50g sample (FA-550). High-grade samples with documented visible gold are also analysed using metallic screen fire assay (FS-652). Samples returning >200 g/t Ag (MA250 or MA300) were analysed by multi-acid digestion ICP-ES MA370. If samples returned > 1,500 g/t Ag, they were analysed by fire assay with gravimetric finish on a 50g sample (FA550).   If samples returned > 10,000 g/t Ag, they were analysed by fire assay 2g sample (FA501). Bureau Veritas is an accredited laboratory following ISO/IEC 17025:2017 SCC File Number 15895. A robust system of standards, ¼ core duplicates and blanks has been implemented in the 2026 exploration drilling program and is monitored as chemical assay data becomes available.

Qualified Persons 

Duncan Mackay, M.Sc., P.Geo., is a “Qualified Person” as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and approved the content of this news release in respect of all disclosure other than the MRE.‎ Mr. Mackay is Vice President Exploration for Banyan and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

Upcoming Events

• GCFF Conference, Vancouver, September 19, 2026
• Precious Metals Summit, Beaver Creek, September 22-25, 2026
  • Corporate Presentation: September 23 at 1:30 PM MDT
• Denver Gold Forum, Colorado Springs, September 27-30, 2026
• The MoneyShow, Orlando, October 5-7, 2026

About Banyan 

Banyan’s primary asset, the AurMac Project is located in the Traditional Territory of the First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory.  The AurMac Project comprises two main deposits, the Airstrip and Powerline Deposits. Mineralization is characteristic of a Reduced Intrusion Related Gold system, hosted in auriferous cross-cutting sheeted quartz veins and replacement style mineralization hosted in skarn horizons. The current Mineral Resource Estimate (“MRE”) for the AurMac Project has an effective date of May 15, 2026 and comprises an Indicated Mineral Resource of 3.639 million ounces of gold (“Au“) (167.3 M tonnes at 0.68 g/t) and an Inferred Mineral Resource of 4.985 Moz of Au (267.2 M tonnes at 0.58 g/t) (See MRE Table below; as defined in the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves incorporated by reference into NI 43‑101). The 303 square kilometres (“sq km”) AurMac Project lies 40 kilometres from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 69 kV 3-phase powerline, existing power substation and cell phone coverage.

MRE Table: Pit-constrained Indicated and Inferred Mineral Resources – AurMac Project

Notes to MRE Table:

1. The effective date for the MRE is May 15, 2026, the technical report is available for review on SEDAR+ at www.sedarplus.ca.
2. The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
3. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
4. The 2014 CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
5. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.73 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.
6. The number of tonnes was rounded to the nearest hundred thousand and ounces rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt (the “Hyland Project”) in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council. The Hyland Project represents a sediment hosted, structurally controlled, intrusion-related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads. The Hyland Project MRE comprises an Indicated Mineral Resource of 337 thousand (“K”) ‎ounces (“oz”) of gold (“Au”) and 2.63 million (“M”) oz of silver (“Ag”) (11.3 M tonnes at 0.93 g/t Au and 7.27 g/t Ag), and an Inferred Mineral Resource of 118 Koz of Au and 0.86 Moz Ag (3.9 M tonnes at 0.95 g/t Au and 6.94 g/t Ag) (as defined in the 2014 CIM Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) effective September 1, 2025 and with a technical report filed on Sedar on October 27, 2025.

Banyan also holds the Nitra Gold Project and Seattle-Goodman Creek Project which are grassroots exploration projects located in the Mayo Mining district, adjacent to the AurMac Gold Project. These properties lie in the northern part of the Selwyn Basin and are underlain by metaclastic rocks of the Late Proterozoic Yusezyu Formation of the Hyland Group, similar to lithologies hosting portions of the AurMac Project. Middle Cretaceous Tombstone Plutonic suite intrusions occur along the properties including the Morrison Creek and Minto Creek stocks. The properties are 100% owned by Banyan and cover over 530 sq km. The properties are accessible by road along the Silver Trail Highway, South McQuesten Road and a network of other smaller roads across the properties.

Banyan trades on the TSX Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”. For more information, please visit the corporate website at www.banyangold.com or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) "Tara Christie" 

Tara Christie

President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com 

Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

In Europe

Swiss Resource Capital AG

Marc Ollinger

info@resource-capital.ch

www.resource-capital.ch

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This release contains forward-looking information, which is not comprised of historical facts and is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forward-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” and “continue” or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the potential for resource expansion and increased grades; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan’s public documents filed on SEDAR+. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.