Pirate Gold Amends Agreement with Paradigm

• Pirate Gold Corp. filed an amending agreement with the TSXV regarding its acquisition of four mineral licenses from Paradigm Minerals Inc., Ian Farrell, and Katie Lewis.
• The total consideration for the acquisition remains unchanged compared to the original December 19, 2025 announcement.
• Payment structure has been reallocated between cash and common shares:
  • Revised Cash Consideration: $11,960 to Paradigm Minerals Inc., $400 to Ian Farrell.
  • Revised Share Consideration: 280,000 common shares to Paradigm Minerals Inc., 20,000 common shares to Ian Farrell.
• All other terms of the original agreement remain unchanged.

• Transaction Significance: The amendment is administrative in nature and does not alter the economic value or asset quality acquired from the December 2025 deal.
• Dilution Impact: Issuance of 300,000 common shares (280k + 20k) represents negligible dilution against the 505 million outstanding share count (~0.06%).
• Market Context: This news follows significant exploration updates in April 2026 (Rib Vein discovery on April 13). The amendment confirms land consolidation progress but adds no new geological value or financial catalysts.
• Investor Sentiment: Neutral impact; the market has already priced in the acquisition through previous announcements and drilling results. No surprise element exists to drive immediate price appreciation.

• Flagship Project: Treasure Island Project located in central Newfoundland along the Valentine Lake Fault Zone.
• Project Scale: Covers 92 km of strike length across approximately 78,600 hectares (100% owned).
• Geological Model: District-scale orogenic gold system with potential for high-sulphidation epithermal and copper porphyry mineralization at Crippleback.
• Key Zones: Moosehead Zone (high-grade vein discovery), Crippleback Lake Target (alteration envelope >1,700m x 700m).
• Proximity: Adjacent to Equinox Gold’s Valentine Lake Mine and New Found Gold’s Queensway Project, providing regional geological context.