Transatlantic Provides an Exploration Update for Its Golden Jubilee Project in Montana

Transatlantic Mining Corp. (TCO) released an exploration update for its Golden Jubilee gold project in Montana, marking a shift from recent drill-result announcements to surface sampling and preparatory activities. The primary new data point is surface grab sample #28386, which reported 2.0 m at 22.3 g/t Au and 7.46 g/t Ag. This sample was collected on geophysical Anomaly #2, located approximately 200 metres offset from the mined Resource Target Area.

The company has outlined plans for 1,600 m of drilling across four holes, consisting of two down-dip extension holes and two lateral offset holes, both targeting a depth of 400 m. Drilling has not yet commenced as Transatlantic Mining reviews potential drill contractors. However, preparatory work is underway, including dewatering operations, the laying of pipes, and the purchase of a generator.

The update also reiterated historical 2023 drill intercepts at Golden Jubilee and stated that a maiden Mineral Resource Estimate is expected in the next quarter or by year-end. While the offset potential is framed as possibly more than doubling the known strike length, this assessment is based on geophysics and the single surface sample rather than drilled assays.

Transatlantic Mining Corp. (TCO) is a pre-resource, pre-revenue micro-cap explorer with a market capitalization of approximately C$5.2 million. The company reports negative equity, a working capital deficit of about C$2.8 million, and an explicit going-concern flag in its latest Management’s Discussion and Analysis.

The recent release does not alter resource confidence at Golden Jubilee, as it contains no new drill intersections or resource estimates. While the surface grab sample serves as a positive exploration signal, it is in the early stages and cannot be projected into volume or economic value.

The stock is trading near its 52-week low after collapsing from an October 2025 high of around C$0.24, indicating that the market is not currently pricing in potential drilling success at Golden Jubilee.

Previous drill results from 2023 are already known and do not serve as an embedded fresh anchor. Recent market disappointment has stemmed from weak drilling at Miller and financial distress, rather than a lack of discovery at Golden Jubilee. Consequently, this development is treated as incremental positive news rather than a game-changing event.

Transatlantic Mining Corp. (TSXV: TCO) is a junior explorer listed on the TSX Venture focused on precious and base metals in Montana and Idaho, USA. The company’s portfolio includes the 100% owned Golden Jubilee gold project in Montana, which is subject to a gold production royalty and hosts the high-grade Red Lion vein trend along with historical trial mining. Also in Montana, the company holds an exclusive option lease to purchase 100% of the historic high-grade gold mine known as the Miller Mine, subject to a payable gold production royalty. In Idaho, Transatlantic holds an 80% earned-in joint venture covering the Monitor Copper-Gold Project, which encompasses the Monitor, Richmond, St. Lawrence, and Copper Age areas.

No NI 43-101 compliant reserves or resources are currently defined for the company. The capital structure consists of 86.6 million shares outstanding, plus 8.5 million warrants and options at C$0.15, resulting in approximately 95.1 million diluted shares. At C$0.06, the market capitalization is roughly C$5.2 million. Reported Q1 2026 financials show no revenue, C$1.69 million in cash, C$5.51 million in total liabilities, and negative equity of about C$0.71 million.