Drilling at North Peak's Industry Targets Underway. Follow-up Channel Sampling at Dean Cave Complex Stopes Yielded Further High-Grade Gold up to 90.4 g/t

The November 3, 2025, press release provides an update on the ongoing drilling program at the Prospect Mountain gold property in Nevada. Key points include: - The Reverse Circulation (RC) drill rig has completed nearly 1,000 feet (~305 meters) in the Wabash/Williams area and has now moved to the Industry tunnel target area. Total drilling for the program so far exceeds 600 meters. - The next drill target following the Industry tunnel will be Area 3, located above the Dean Cave complex. - Follow-up channel sampling from various levels within the historic Dean Cave complex stopes has yielded further high-grade gold results, with notable samples including 90.4 g/t Au over 0.6m, 61.4 g/t Au over 0.3m, and 17.3 g/t Au over 0.3m. These samples confirm high-grade oxide mineralization.

This news is a routine operational update that is incrementally positive. It confirms the drill program announced on October 15, 2025, is progressing as planned. The movement of the rig from the Wabash/Williams area to the Industry tunnel shows the program is on schedule.

The high-grade channel sampling results are encouraging and consistent with spectacular grades previously reported from the Dean Cave complex in May and August 2025 (e.g., 180 g/t Au over 0.1m). While these grades are exceptional, they are from selective, narrow channel samples taken from historic underground workings. They reinforce the high-grade nature of the mineralization but do not, by themselves, define the size, scope, or continuity of a minable orebody. That is the objective of the current drill program.

The market has been aware of the high-grade potential from these historical areas for several months. Therefore, this news serves more as a confirmation of the thesis rather than a new, material discovery. The material impact will come from the assay results of the current drilling, which are still pending. This release effectively serves to maintain investor interest while the company awaits those crucial results. The stock price has already priced in the potential shown by surface and underground sampling; drill results are needed to justify the next move higher.

In summary, the news is positive as it shows operational progress and continues to confirm high-grade targets. However, it is routine because it does not contain the key catalyst the market is waiting for: new drill results that could demonstrate economic widths and continuity.

North Peak Resources Ltd. is a junior exploration company focused on its flagship Prospect Mountain Mine Complex in the prolific Battle Mountain/Eureka gold trend in Eureka, Nevada. The project is a historic high-grade, past-producing gold and polymetallic camp with 11 miles of accessible underground workings. The company's strategy is to explore three target types: near-surface oxide mineralization with open-pit potential, accessible underground oxide mineralization around historic workings, and deeper sulphide potential. On July 21, 2025, the company consolidated ownership and now holds a 100% interest in the project, subject to a 1% Net Smelter Return (NSR) royalty.