Transatlantic Provides Exploration Update for its Copper and Gold Projects in Montana, Idaho

The most recent release (May 5, 2026) serves as a comprehensive exploration update covering all three core assets: Miller Mine, Golden Jubilee, and Monitor. Key operational details include: - Miller Mine: Surface drill permits submitted; underground drilling permit extended for 12 holes at Jonnie Gulch Adit (approx. 250m each). NI-43-101 technical report anticipated by Q4 2026. Metallurgy tests on stockpiles planned. - Golden Jubilee: Follow-up drill program approved through December 31, 2026. Scope includes up to 2,000m in 2-4 holes targeting down-dip extensions and geophysical offsets. Maiden resource estimate scope is being sourced. - Monitor Project: Geophysical survey following the completed Trial Muon Study. Full report expected soon. Continuation of the three-phase exploration program outlined in December 2025.

This news confirms that regulatory hurdles (permits) are being cleared and drilling programs are proceeding as previously communicated in April 1, 2026, and January 23, 2026 releases. It does not introduce new assay results or financing announcements.

The materiality of this update is Neutral relative to the current market context for several reasons: - Lack of New Catalysts: The information regarding drilling permits and program scopes was largely anticipated following the April 1, 2026 Golden Jubilee permit extension and January 23, 2026 Miller Mine results. There is no "new" surprise that would alter valuation models immediately. - Price Action Context: The stock has declined approximately 80% from its October 2025 peak ($0.25) to the current level ($0.05). In this environment, routine exploration updates are often viewed as confirmation of cash burn rather than value creation without accompanying assay results or financing news. - No Financing: The release does not address capital needs. Given the micro-cap status (~$4.3M market cap) and ongoing drilling costs, investors remain concerned about potential dilution to fund these programs. - Timeline Risk: Technical reports (Miller Q4 2026) and resource estimates are months away. This news extends the timeline for any fundamental re-rating rather than accelerating it.

Transatlantic Mining Corp is a development-stage exploration company focused on high-grade gold and copper projects in North America (Montana/Idaho). - Miller Mine: Historic underground gold mine with grades up to 7.94 oz/t Au. Currently under lease renewal terms aiming for 100% ownership via earn-in. - Golden Jubilee: High-grade gold project with historical resources of ~40 koz Au @ 8.5 g/t Au. Focus is on down-dip extensions. - Monitor Project: Copper-Gold-Silver JV (80% owned) in the Coeur d’Alene district. Utilizing advanced Muon imaging technology for subsurface mapping. - Strategy: Transition mine-ready projects to production quickly using toll-treating or low-capital pathways, targeting cash flow within two years.