Bullion Gold Begins Geochemical Survey of Base Till on Langlade and Appoints a New Director to Its Board

The November 13, 2025 press release from Bullion Gold is an omnibus update covering multiple corporate and operational activities: - Exploration Program: The company is launching a systematic basal till geochemical survey on its Langlade project. Approximately 530 samples will be taken to follow up on the discovery of coarse gold grains announced on October 9, 2025. - Board Appointment: Sébastien Plouffe has been appointed as a new director. - Financing Closed: The company has closed a non-brokered private placement for gross proceeds of $234,250. It issued 3,346,429 units at $0.07 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at $0.12 for 12 months. - Stock Options: A grant of 2,000,000 stock options to directors, officers, and consultants, exercisable at $0.10 for a period of 5 years. - Warrant Extension: The expiry date of 2,899,285 outstanding warrants has been extended by 12 months, from December 23, 2025, to December 23, 2026. The exercise price remains unchanged at $0.10. - Marketing Agreement: The company has engaged Volume Hunters Inc. for a 12-month term at a cost of $100,000 to provide marketing and investor relations services.

This news release is a collection of routine business activities for a junior exploration company, with the exploration update being the most significant component.

• Progression of Projects:

  • Bousquet Project: Historically the main focus, this project is being successfully advanced by partner Olympio Metals. News flow throughout 2025 (July 28, Aug 26, Sept 30, Oct 28) has been consistently positive, showing high-grade gold intercepts and the expansion of the mineralized system to a 1.7 km strike length. The option agreement de-risks this asset for Bullion Gold, providing a 20% carried interest and cash/share payments while Olympio funds all exploration. This arrangement is a clear positive.
  • Langlade Project: Acquired in June 2025, this project saw a significant development with the October 9 announcement of coarse, angular gold grains found in a till sample, indicating a proximal source. The geochemical survey announced in the current release is the logical, systematic, and expected next step. This follow-through is positive as it directly works to define a drill target on a highly prospective discovery.
  • Bodo Project: Early-stage exploration in mid-2025 identified high-grade polymetallic surface showings. However, the project requires a significant drill program (estimated at $1 million) which the company is not currently funded for. It remains a longer-term prospect.

• Assessment of Current News:

  • Positive: The immediate follow-up on the Langlade gold discovery is good operational execution. It keeps momentum on the company's most exciting 100%-owned asset.
  • Neutral/Negative: The financing of ~$234k is very small. While it provides necessary working capital, it highlights the company's continuous struggle to secure substantial funding. This hand-to-mouth financing approach leads to significant dilution over time.
  • Negative Signals:
    • Spending $100,000 on a marketing firm, which represents 43% of the gross proceeds from the new financing, is a questionable allocation of scarce capital. A prudent, risk-averse investor would prefer to see these funds dedicated to exploration.
    • The extension of nearly 2.9 million warrants at a $0.10 exercise price signals that management does not anticipate the share price will be comfortably above this level by the original December 2025 expiry. This removes a potential near-term source of cash and extends the overhang on the stock.

In context, the news demonstrates the company is active, but it also underscores the persistent financing risk and questionable capital allocation. The operational progress is overshadowed by the weak financial position. The positive exploration step is routine for this stage, not material.

Bullion Gold Resources Corp. is a junior mineral exploration company focused on projects in the province of Quebec, Canada. The company has a portfolio of three key projects: - Bousquet Project (Flagship - Advanced): Located on the prolific Cadillac-Larder Lake fault zone. The project is under an option agreement where partner Olympio Metals can earn an 80% interest by funding $2 million in exploration and making $1.25 million in cash and share payments. Bullion Gold retains a 20% free-carried interest. Olympio is actively drilling and has produced a steady stream of positive gold results in 2025. - Langlade Project (Flagship - Emerging): A 100%-owned volcanogenic massive sulphide (VMS) project acquired from SOQUEM. Recent exploration identified coarse gold grains in till, shifting focus to its gold potential. This is now a primary focus for company-funded exploration. - Bodo Project: A large, 100%-owned, early-stage polymetallic (copper, gold, silver, zinc) project in the James Bay region. It has shown high-grade potential from grab samples but requires significant funding for drilling.