Val-d'Or Mining Exploration Update Baden Prospect, Matachewan, Ontario-Eldorado Gold (Quebec) Inc. Option Diamond Drilling Program Underway

The most recent news, dated October 21, 2025, announces the commencement of a maiden diamond drilling program on the Baden Prospect in Matachewan, Ontario. This is a Phase I program, consisting of 4,000 meters, utilizing two coring rigs to target historical gold showings and geophysical anomalies. The Baden Prospect is part of a larger option agreement with Eldorado Gold (Québec) Inc. Under this agreement, Eldorado can earn up to an 80% interest in the Baden, Plumber, Island 27, and Matachewan Prospects by incurring cumulative expenditures of $20,000,000 over five years, in addition to making annual payments of $100,000 to Val-d'Or Mining. The effective date of this option agreement was May 30, 2023.

This news is a positive, yet routine, development in the context of Val-d'Or Mining's project generator model and existing agreements. The commencement of drilling at the Baden Prospect, fully funded and operated by Eldorado Gold, is an expected and necessary step in advancing this property. It signifies progress on a substantial option agreement with a major gold producer, where Eldorado is committed to significant expenditures ($20 million) and annual payments ($100,000) over five years. This arrangement allows Val-d'Or Mining to explore and develop its assets without direct capital outlay, while retaining an interest and royalty upside.

Comparing this to previous news, Val-d'Or Mining recently reported excellent drill results from its Perestroika Prospect (September 26, 2025), also operated by Eldorado Gold, with multiple high-grade gold intercepts. This new drilling program at Baden opens another front for exploration, diversifying the company's asset development. The financial statements (June 30, 2025) showed a significant improvement in the net loss, even a small profit in Q2 2025, primarily due to increased mining option revenues and service fees, validating the company's project generator strategy. The participation of key investors like Jimmy Lee and CEO Glenn J. Mullan in recent financings, and Lee's election to the board, further indicates confidence in the company's direction.

While the drilling commencement itself is not a "game changer," as it is an anticipated progression under an existing agreement, it is a solid positive. The material impact will be determined by the actual drill results from Baden, which could significantly affect the company's valuation. For now, it reinforces the ongoing, well-funded exploration activities across Val-d'Or's portfolio.

Val-d'Or Mining Corporation (TSXV: VZZ) is a mineral exploration company focused on developing its extensive portfolio of properties, primarily in the Abitibi Greenstone Belt in Quebec and Ontario, Canada. The company operates on a "project generator" model, seeking to advance its projects through strategic partnerships and option agreements with larger, well-funded companies. This approach minimizes direct exploration expenditures and risk for Val-d'Or while retaining significant upside through carried interests, royalties, and equity stakes.

Flagship Projects and Key Properties: * Perestroika Prospect (Quebec): This gold-focused property is one of the company's most advanced exploration assets. It is currently under option to Eldorado Gold (Québec) Inc., where Val-d'Or holds a 70% interest and Eldorado 30%. Eldorado has the option to earn an additional 40% (for a total of 70%) by incurring $10.5 million in expenditures over five years and making annual payments of $50,000 to Val-d'Or. Recent Phase II diamond drilling results (September 2025) confirmed high-grade gold mineralization, expanding the mineralized footprint. * Baden, Plumber, Island 27, and Matachewan Prospects (Ontario): These properties are subject to an option agreement with Eldorado Gold (Québec) Inc. (effective May 2023). Eldorado can earn up to an 80% interest by spending $20 million over five years and making annual payments of $100,000 to Val-d'Or. The maiden drilling program at Baden Prospect commenced in October 2025. * Powell Property (Ontario): This property was optioned from third parties and immediately assigned to Eldorado Gold (Québec) Inc. Val-d'Or retains a 1.5% Net Smelter Returns (NSR) royalty (reducible to 1.0% for $500,000) and acts as the operator for exploration, earning a 10% fee on expenditures. Eldorado is committed to $305,000 in cash payments to optionors and $2,000,000 in exploration expenditures over five years. The Golden Stinger zone, with anomalous gold mineralization, has been identified. * Winnie Lake and Amikougami Properties (Ontario): These properties, prospective for VMS copper-zinc-silver-gold and gold, respectively, are under option to Kirkland Lake Discoveries Corp. Val-d'Or receives 1.75 million common shares of Kirkland Lake Discoveries and retains a 0.75% to 2% NSR royalty. Kirkland Lake Discoveries is obligated to incur $1.2 million in exploration expenditures over four years.