Gemdale Gold Announces Proposed Assignment of Isoneva Gold Property Option to Jesmond Capital

Gemdale Gold Inc. (GEMG) announced the assignment of its Isoneva Gold Property option from Nordique Resources to Jesmond Capital Ltd. Under the terms of the agreement, Jesmond assumes all original earn-in obligations, which include C$2.4 million in exploration expenditures by June 2028 and a C$1 million cash or share payment. Gemdale retains operatorship, entitling it to a 10% fee on qualifying exploration expenditures, as well as a 2.0% Net Smelter Returns (NSR) royalty. Jesmond holds the right to reduce the NSR to 1.5% for C$2 million, 1.0% for C$3 million, or 0.5% if the C$2 million reduction is also exercised.

Concurrently, Gemdale released the final Phase 1 drill results from its Pontio Gold Project, highlighting wide, near-surface intersections such as 60.85m @ 0.80 g/t Au. These results confirm the deposit's scale ahead of a maiden Mineral Resource Estimate (MRE) targeted for early 2027. Phase 2 infill drilling is currently ongoing to tighten spacing to 50 metres, with metallurgical testwork expected in Q4 2026.

Gemdale Gold Inc. (GEMG) executed the Isoneva assignment as a standard corporate follow-up to the February 2026 Nordique option agreement. The transaction maintains the original financial terms, leaving the 2% NSR and operatorship fee intact, which does not alter the company's risk/reward profile.

Regarding the Pontio drill results, the data is incremental and aligns with previous expectations. The findings confirm the continuity and width of the M2 trend but do not represent a step-out discovery or a change in project economics.

No new capital was raised, and no strategic partnerships or joint ventures were formed. The news is considered routine and does not materially impact the company's valuation drivers or near-term cash flow.

Gemdale Gold Inc. is a junior gold and critical metals explorer headquartered in Finland. Its flagship asset is the 100%-owned Pontio Gold Project in Western Finland, which is in an advanced exploration stage. The project features approximately 4 km of strike length of near-surface gold mineralization hosted in dioritic porphyries. Drilling is currently focused on defining a maiden mineral resource estimate by early 2027.

The company also holds secondary assets, including the Isoneva Gold Property, which has been optioned to Jesmond, as well as Lapland projects situated in a gold and base-metal district. Additional holdings include the Kumiseva Cu-Ni-Pt-Pd licenses and the Savo/Rantasalmi property, which contains a historical inferred resource of 3.23 million tonnes at 2.7 grams per tonne of gold. Management is described as highly experienced, with Dr. Toby Strauss serving as President, CEO, and Qualified Person, though no detailed biographical data was provided in the investor presentation.