Firefox Gold begins EM survey at Mustajarvi

Executive Summary

• Firefox Gold provided a detailed update on exploration activities at its Mustajarvi, Sarvi and Jeesio gold projects in Finland, including the commencement of a fixed‑loop electromagnetic (FLEM) survey at Mustajarvi and plans for winter drilling and additional geophysical work.
• The company announced that veteran geologist John Robins has joined as an advisor to support technical and strategic planning.
• Firefox granted 2.08 million stock options at a $0.60 exercise price to officers, directors, employees, advisers and consultants.

Key Details

• Exploration Program
• Mustajarvi: First phase of detailed FLEM survey underway in the East zone – 108 stations on 20‑m spaced lines (60 m line spacing). Results expected mid‑September; additional surveys planned for later fall/winter.
• Sarvi: Reconnaissance targets based on historic GTK drilling (1.6 m @ 1.1 g/t Au from 26.4 m depth; 0.5 m @ 3.57 g/t Au from 69.5 m depth). Planning BoT sampling, mapping, and possible limited drill testing pending rig availability.

• Jeesio: Detailed ground magnetic survey and BoT sampling slated for later in the year to evaluate a northwest‑trending fault with associated magnetic lows; reconnaissance drilling planned around Katajavaara and Saittavaara prospects.

• Advisory Appointment

• John Robins joined Firefox Gold in an advisory capacity, bringing strategic guidance, technical expertise and industry relationships.

• Existing advisors include Dr. Richard Golfarb; the board will leverage Robins’ mentorship to develop junior geoscientists.

• Stock Option Grant

• 2.08 million stock options granted on Sept. 1 2025 at an exercise price of $0.60 per share (premium to prior day’s closing price of $0.58).

• Options issued under the company’s stock option plan; expire five years from grant date.

• Qualified Person

• Patrick Highsmith, CPG (AIPG No. 11702), director and qualified person, reviewed and approved all technical information in this release.

Notable Quotes

• “Our team is executing on several fronts at the moment, focused primarily on drilling support and geophysics… The new FLEM work at the East zone will facilitate step‑out drilling eastward from the known high‑grade zone.” – Carl Lofberg, CEO
• “We are delighted to have John Robins join our panel of advisers… Our team continues to benefit from the mentorship and guidance from senior technical advisers like John.” – Patrick Highsmith, Chairman

Materiality Assessment: Non-Material – Neutral (operational update without immediate financial impact).