Nord Precious Metals Reports 2,343 g/t (68 oz/ton) High-Grade Silver over 1.85 Metres at Castle East, Begins Fully Funded 5,000-Metre Drilling Phase

On May 4, 2026, Nord Precious Metals Mining Inc. announced high-grade assay results from its Castle East property in Gowganda, Ontario, marking the completion of Phase I and the start of a fully funded 5,000-metre drilling phase within a larger 30,000-metre program. - Key Assay Results: Hole CS-26-129W2 intersected 1.85 metres grading 2,343.70 ppm Ag (68.4 oz/ton), including a high-grade core of 0.30m @ 9,510.00 ppm Ag. The interval also contained significant cobalt (549.86 ppm Co), copper, and nickel. - New Intercept: Hole CS-21-73W1 identified native silver with cobalt arsenide mineralization at 501.90 metres depth, confirming the vertical extent of the system. - Program Status: Phase I (~3,500 metres) is complete. The new 5,000-metre phase is fully funded by recent private placements. - Management Commentary: CEO Frank J. Basa stated that results confirm "bonanza-grade silver" and emphasized that the company now holds title to all area mining leases following recent acquisitions, allowing drilling across previously fragmented boundaries.

The news is assessed as Routine - Positive based on the risk-averse analyst framework. - Expectation vs. Reality: The 30,000-metre drill program was announced in late 2025. This release confirms progress and delivers high-grade intercepts consistent with historical claims and previous Phase I results (Feb 2026). It does not fundamentally alter the valuation model without a subsequent resource update. - Funding Status: The confirmation that the next phase is "fully funded" alleviates immediate dilution concerns, which is positive given the company's history of frequent financings in early 2026. - Grade Quality: While 9,510 g/t Ag is exceptional, it is over a narrow width (0.30m). The broader interval (1.85m @ 2,343 g/t) is economically interesting but requires bulk sampling or underground development economics to validate. - Market Reaction: Given the stock's downtrend from October 2025 highs ($0.42) to current levels ($0.18), this news may provide a floor but is unlikely to trigger a significant re-rating without further catalysts like permitting milestones or resource expansion.

Nord Precious Metals Mining Inc. focuses on acquiring and consolidating high-grade silver-cobalt assets in Ontario's historic Cobalt-Gowganda mining district. - Flagship Project: Castle East Property (Gowganda, Ontario). - Resource: Historical inferred resource of 7.56 million ounces Ag at 8,582 g/t Ag (requires NI 43-101 update). - Strategy: Integrated tailings-to-metal production using existing infrastructure and a permitted gravity mill (TTL Laboratories). - Recent Expansion: Acquisition of four mining leases in March/April 2026 consolidated ~789.7 hectares, adding ~2.96 million ounces of historical tailings resource. - Technology: Developing Re-2Ox hydrometallurgical process for arsenic remediation and critical metal recovery (cobalt, nickel).