North Peak Commences Diamond Drilling at Prospect Mountain, Eureka, Nevada Following Technical Review of MT Anomalies

North Peak Resources Ltd. has commenced diamond drilling at its 100%-owned Prospect Mountain Mine Complex in Eureka, Nevada. The program targets a reinterpreted main sulphide anomaly, shifted westward based on integrated airborne and ground geophysical data including magnetotellurics, induced polarization, and gravity.

A previous RC drilling campaign began in August 2026 targeting the east side, with the rig expected to move to the west side later in September. Historical assay data from drill hole PM23-001 (2023) provides context, showing narrow zones of massive sulphide mineralization:

• 1.0m at 9.5% Zn and 221.6 g/t Ag
• 1.9m at 7.3% Zn and 54.6 g/t Ag

Management interprets these high zinc/low gold/lead values as peripheral mineralization relative to a potential core. Groundworks and regrading of access roads for water haulage to drill pads are complete, and a second RC drill is expected to arrive before winter.

QA/QC protocols are standard, with samples prepared by ALS Elko, gold assayed by ALS Reno, and base metals/silver by ALS Vancouver. Core recovery averaged 92% in PM23-001. The Qualified Person is Mr. David Pym, CGeol.

North Peak Resources Ltd. (NPR) has begun diamond drilling, marking the start of its 2026 exploration program announced in August 2026. This development aligns with prior expectations and does not introduce new or unexpected information. The company’s shift in targeting, driven by refined geophysical data, represents a logical progression of its exploration thesis rather than a surprise.

The release is incremental and operational, confirming that the company is advancing its flagship property as planned. It does not materially alter the financial outlook or valuation at this stage. The stock price has already declined significantly from its December 2025 highs, suggesting the market has priced in the exploration timeline and associated dilution risks.

North Peak Resources Ltd. (NPR) is a pre-revenue gold exploration and development company focused on the Prospect Mountain Mine Complex in Eureka, Nevada. The property is 100%-owned and holds a permit for a 1,000-tonnes-per-day underground mine. It sits in the historic Eureka mining camp, which has produced over 3.1 million ounces of gold.

The 2026 exploration program targets five areas: Wabash/Williams, Lower PME Zone, Old Put, West Side Story, and the Sulphide Zone. The company aims to expand disseminated oxide gold mineralization, test deep sulphide anomalies, and evaluate the economic viability of historic waste rock piles for toll leaching.