New Gold Mineral Resource Estimate of 1.3 Million Ounces Indicated and 1.5 Million Ounces Inferred at RC Gold in Yukon (January 2025)

Overview

The 100% owned RC Gold Project is a reduced intrusion related gold system (RIRGS) located in the Tombstone Gold Belt in the Yukon Territory, Canada (Figure 1). The property consists of a contiguous land package consisting of 2,169 mineral claims covering approximately 431 square kilometres, encompassing 11 known gold-bearing intrusions with two deposits discovered to date (Figure 2). The project has excellent infrastructure. It is road accessible only a 2-hour drive from Dawson City where a 5,000 foot paved runway and international airport can accommodate jet transport. The Klondike Highway and Yukon power grid are located within 30 kilometres of the project. All necessary permits for exploration have been obtained and this year’s 60,000 metre diamond drill program is planned to commence in February 2026.

Figure 2: Clear Creek Intrusive Complex: 431 sq km of highly prospective ground containing multiple targets

Updated Mineral Resource Estimate (Jan. 2025)

The updated Mineral Resource Estimate (MRE) for the Blackjack Zone includes 11,725 m of drilling in 25 holes in addition to the  7,074 m of drilling in 21 holes  which comprised the initial resource estimate. At a 0.30 g/t gold cut off grade, the updated MRE at Blackjack includes an Indicated resource of 39,962,000 tonnes at 1.01 g/t gold containing 1,291,000 ounces and an Inferred resource of 34,603,000 tonnes at 0.94 g/t gold containing 1,044,000 ounces (Figure 2 and Table 1). A 0.30 g/t cut of grade is achievable because of the nature of the deposit, the good gold recoveries obtained from initial metallurgical testing and the favourable logistics of the RC Project, including year-round road access and proximity to infrastructure.

The modelling for the updated MRE identified a consistent higher grade core of the deposit that contains greater the 1 g/t Au material that trends from surface to a currently identified depth of 660 m (Figures 4 and 5). The morphology and grade of this mineralization allows for the possible development of a higher-grade starter pit and a faster capital cost payback of potential future mine development. The MRE is also relatively insensitive to changing cut-off grades, further confirming the quality of the resource (see Table 2).

Figure 3: Block Model of the Blackjack resource illustrating the coherent core of greater than 1 g/t material that extends from surface to a currently defined depth of 660 m.