Stardust Files NI 43-101 on McGarry, Highlighting Kerr-Addison-Style Gold System and Clear Path Toward Resource Definition

Executive Summary of Latest Release (2026-04-27)

• Stardust Metal Corp. filed an independent NI 43-101 Technical Report for its McGarry Project.
• The report validates the asset as a brownfield gold system adjacent to the historic Kerr-Addison Mine in Ontario's Larder Lake-Cadillac Deformation Zone (LLCDZ).
• It outlines a clear strategic path toward a compliant mineral resource estimate rather than announcing one immediately.
• A fully scoped 2026 exploration program is confirmed with an estimated budget of C$2.5 million.

News vs. Market Expectations

• Priced In: The stock has rallied approximately 300% from May 2025 ($0.10) to April 2026 ($0.51). Much of this appreciation occurred following the November 2025 geophysical discovery and February 2026 program outline which already hinted at resource updates.
• Incremental Validation: The NI 43-101 filing is a regulatory milestone that confirms the geological thesis but does not represent a new "resource number" or production announcement. It is consistent with the February 2026 guidance to update estimates.
• Related Party Risk: The option agreement with Orecap (April 24) introduces potential conflict of interest concerns regarding capital allocation and valuation, which requires scrutiny by investors.

Corporate Profile

• Company: Stardust Metal Corp.
• Focus: Gold exploration in the Kirkland Lake - Larder Lake district, Ontario.
• Flagship Project: McGarry Project.
• Location: Adjacent to the historic Kerr-Addison Mine on the Larder Lake-Cadillac Deformation Zone (LLCDZ).