Great Pacific Gold to hold special meeting Nov. 27

Mr. Greg McCunn reports GREAT PACIFIC GOLD SETS MEETING DATE TO APPROVE WALHALLA 1:1 SPINOUT Great Pacific Gold Corp. has set Nov. 27, 2025, as the date on which the special meeting of shareholders will occur to approve the spinout of Walhalla Gold Corp., whereby Great Pacific Gold will distribute the shares of Walhalla to the shareholders of Great Pacific. Walhalla will then own the Walhalla gold project in Victoria, Australia. An information circular setting forth the transaction in detail will be filed on SEDAR+ prior to the special meeting. Highlights: Notice of anticipated record date and meeting date: The company has filed a notice of meeting and record date on SEDAR+, setting Nov. 27, 2025, as the date for a special meeting of Great Pacific Gold shareholders to approve the spinout of Walhalla. Shareholders as of Oct. 20, 2025, will be eligible to vote at this meeting. Submission of initial application for listing: An updated National Instrument 43-101 technical report and draft carveout financial statements have been prepared and submitted to the Canadian Securities Exchange as part of the initial application for listing Walhalla. Anticipated record date for the spinout: It is expected that the date of record for which shareholders in Great Pacific Gold will receive a full share in Walhalla will be shortly after the Nov. 27, 2025, special meeting. "The spinout of Walhalla enables GPAC shareholders to retain full and direct exposure to a district-scale gold project in a proven jurisdiction. Walhalla has multiple drill-ready targets [and] a rich mining history, and is now consolidated under a single entity," stated Greg McCunn, chief executive officer of Great Pacific Gold. "We have been making good progress on advancing the required financial, technical and legal documentation to support the spinout, and we have now initiated preparation work for drilling the highly prospective Pinnacles target in early 2026." Mick Carew, Great Pacific Gold's vice-president of corporate development, is serving as Walhalla's interim CEO to prepare the Pinnacles target for drilling in early 2026. Walhalla gold project H&S Consultants Pty., of Brisbane, Australia, has completed an updated NI 43-101 technical report for Walhalla. The report is expected to be filed on SEDAR+ in conjunction with the information circular mailout for the Nov. 27, 2025, special meeting. The Walhalla-Woods Point goldfield is one of Victoria's significant goldfields, with an estimated total historical gold production from 54 mines of 2.2 million ounces (oz) (72.2 tonnes) at a gold grade of 25.3 grams per tonne (g/t) (source: GeoVic, 2020), approximately 10 per cent of the state's historic gold production. It is estimated that there are over 420 mines/workings for gold within the goldfield, which lies in the Palaeozoic-aged Melbourne geological structural zone, approximately 150 kilometres (km) east of Melbourne. Since gold was first found in 1851, the majority of production occurred in the 19th century, with only a few, larger mines continuing production in the 20th century. No mines are currently operational. The prospect of significant gold mineralization for the Walhalla gold project area is currently defined by relatively shallow, historically high-grade mine workings, coincident surface geochemical anomalism corresponding within a favourable geological domain and structural setting. The exploration model for the Walhalla gold project is a high-grade, shear-hosted, orogenic gold system hosted within low-metamorphic-grade, marine, fine-grained siliciclastics of the Walhalla synclinorium. Of great significance is the association of gold mineralization with the dioritic Woods Point dike swarm intruded, along strike but across dip, into the sediments. This type of lode gold system is associated with continental margin accretionary orogens (oceanic-continental) typically occurring in terranes dominated by turbiditic (metasedimentary) rocks. The deposits are commonly associated with second- and third-order faults and shear zones resulting in moderately to steeply plunging, tabular to pipe-like orebodies. The shear-hosted gold potential of the Walhalla gold project area has not been adequately tested by previous exploration programs. Production records from historical mining activities show the vein systems have the capacity to host significant high-grade mineralization along with complex stranded structural architectures capable of creating large, mineralized shoots. Great Pacific Gold has consolidated most of the available ground covering the Walhalla-Woods Point goldfield. The tenement package comprises nine, virtually contiguous, ELs (exploration licences) (including one ELA (exploration licence application)) covering a total of 1,233 square km. This provides a unique opportunity to target and explore the entire mineral field. A multifaceted approach to exploration is required. The exploration targets vary from historical mines that may have already received prior development and exploration, and thus may be drill ready, through to regional stream sediment geochemical anomalies that require verification and follow-up sampling prior to soil sampling, trenching and drilling. Historical mine sites with adequate geological information can be assessed by drilling within a brief time frame, dependent on the approval of suitable work plans. Recommendations The following key recommendations were made in the technical report to advance exploration: The Pinnacle prospect represents a very-high-priority target for an immediate drill test; Drill test Cohen's Reef/Long Tunnel; Drill test structural targets for the Sun Hill-Black Diamond area; Initial targeting should be focused upon potential repetition of mineralization that plunges shallowly north in the upper levels of the Walhalla, Long Tunnel and Long Tunnel Extended mines; Shallow, northern extensions of the Black Diamond/Overseas Option dike, as well as Sun Hill and Longfellows, also warrant drilling; Scout drilling of permitted specific targets generated by surface sampling and mapping throughout the Walhalla gold project. A two-phased exploration budget is proposed in the technical report totalling $6.62-million (Australian) (see the attached table). Phase 1 details Phase 1 will comprise the 3-D desktop studies to evaluate potential drill targets for Cohen's Reef and Sun Hill-Black Diamond. A successful outcome will be the identification of drill targets and possibly the delineation of any exploration potential or even mineral resources. Follow-up would consist of diamond drilling. A total of 5,500 metres (m) of diamond drilling is planned for phase 1. Phase 1 will also include the establishment of a dedicated GIS with all relevant geoscientific data and an assessment of the airborne magnetic and radiometric data. It may also be worthwhile completing an air photo interpretation in conjunction with lidar (light detection and ranging) data to provide additional structural information. Combination of this with the new litho-structural model for gold mineralization is hoped to deliver a series of greenfield targets for follow-up surface geochemistry and potentially diamond drilling in phase 2. Consideration may be given to using AI (artificial intelligence) to assist with target identification. A drill-ready target exists at the Pinnacle prospect and it is recommended that this is drilled as soon as possible. Drilling is likely to comprise at least two diamond holes with further holes depending on the drilling results. Initiation of surface geochemical sampling for already known anomalous areas, for example the Star-Thomson area and the Victors-Quartz-Harbinger area. Phase 2 details Once phase 1 is completed, the drilling and surface exploration data should be integrated using AI technology to generate targets within the broader ELs. An AI system is often a commercial enterprise that utilizes artificial intelligence and machine learning to analyze geological data sets and generate potential targets. These targets would then be further assessed by follow-up geological mapping, geochemical sampling and geophysical surveys to rank and prioritize for drill testing. Contingent on outcomes from phase 1, phase 2 will comprise 12,400 m of diamond drilling targeting downplunge and strike extensions of mineralization encountered in phase 1. It will also aim to test the highest-ranked targets generated by the desktop 3-D study. Metallurgical testwork is recommended to characterize the occurrence of the gold within the quartz vein systems. The work outlined in phase 2 will enable a decision point to be reached on the resource potential within the property and whether further work is warranted. The proposed exploration programs are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the delineation of a mineral resource. Qualified person The technical content of this news release has been reviewed, verified and approved by Callum Spink, the company's vice-president, exploration, who is a member of the Australian Institute of Geoscientists, MAIG, and a qualified person as defined by National Instrument NI 43-101, Standards of Disclosure for Mineral Projects. Mr. Spink is responsible for the technical content of this news release. Mr. Spink is not independent of the company. About Great Pacific Gold Corp. Great Pacific Gold's vision is to become the leading gold-copper development company in Papua New Guinea (PNG). The company has a portfolio of exploration-stage projects in PNG, as follows: Wild Dog project: The company's flagship project is located in the East New Britain province of PNG. The project consists of a large-scale epithermal target, the Wild Dog structural corridor, stretching 15 km in strike length and potentially over 1,000 m deep based on a recent MobileMT geophysics survey. The survey also highlighted the Magiabe porphyry target, adjacent to the epithermal target and potentially 1,000 m in diameter and over 2,000 m deep. Drilling of the epithermal structure on the Sinivit target has yielded high-grade results, including WDG-02, which intercepted 7.0 m at 11.2 g/t gold equivalent (AuEq) from 65 m. The current drilling program will extend into 2026 with 5,000 m planned over 28 holes. Kesar project: Located in the Eastern Highlands province of PNG and contiguous with the mine tenements of K92 Mining Inc., the Kesar project is a greenfield exploration project with several high-priority targets in close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on strike and have the same orientation as key K92 deposits, such as Kora. Exploration work to date by the company at the Kesar project has shown that these veins have high grades of gold present in outcrop and very elevated gold-in-soil grades, coincident with aeromagnetic highs. The company conducted a diamond drill program on key target areas at the Kesar project from November, 2024, to May, 2025, and is working on developing a follow-up phase 2 program for Q1 (first quarter) 2026. Arau project: Also located in the Eastern Highlands province of PNG, the Arau project is south of and contiguous to the mine tenements of K92. Arau contains the highly prospective Mt. Victor exploration target with potential for a high-sulphidation epithermal gold-base metal deposit. A phase 1 reverse circulation drilling program was completed at Mt. Victor in August, 2024, with encouraging results. The Arau project includes the Elandora licence, which also contains various epithermal and copper-gold porphyry targets. The company also holds the Tinga Valley project in PNG. 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