Upside Gold Corp. Signs LOI For Strategic Claims Adjacent To The Kena Property

On April 27, 2026, Upside Gold Corp. announced the signing of a Letter of Intent (LOI) to acquire seven mineral claims totaling approximately 273 hectares adjacent to its Kena Gold-Copper Property in British Columbia. The acquisition targets the Venus-Juno Group claims, which feature historical production data of approximately 5,411 tonnes at an average grade of 19.8 g/t gold and 17.7 g/t silver. This follows a comprehensive historic data compilation released on April 7, 2026, which identified a large mineralized system extending 7 km along strike. The company plans to conduct a systematic surface evaluation program to assess the extent of mineralization on these new claims before committing to full acquisition terms.

The news is categorized as Routine - Positive. While the historical grades cited (19.8 g/t Au) are significantly higher than the current Kena resource estimate (0.544 g/t Au), this announcement represents a standard land expansion step consistent with the exploration strategy outlined in previous updates. The transaction is currently an LOI, meaning it is non-binding and subject to due diligence. There is no immediate change to the company's cash position or capital structure resulting from this specific release. Given the stock has already appreciated approximately 300% since listing (from $0.50 to $1.50) based on prior drilling and compilation news, this announcement serves as a confirmation of the expansion thesis rather than a surprise catalyst that fundamentally alters valuation models without new drill data.

Upside Gold Corp. is an early-stage gold-copper explorer focused on advancing the Kena Gold-Copper Property in southeastern British Columbia, located within the historic Kootenay Arc district. The company holds an option agreement to acquire 100% of the property, which covers approximately 10,115 hectares plus 92 hectares of crown grants. The flagship project contains a historic mineral resource (Indicated: 32.1M tonnes @ 0.544 g/t Au; Inferred: 177.5M tonnes @ 0.486 g/t Au) which requires further drilling to be upgraded under current NI 43-101 standards. Recent exploration has identified a large mineralized system extending at least 7 km along strike with significant copper and silver anomalies.