Miata Intersects 35.25 m at 3.41 g/t Au Including 5.55 m at 15.36 g/t at Jons Trend, Sela Creek, Suriname

Miata Metals Corp. (MMET) has released additional assay results from its ongoing 25,000 m diamond drilling program at the Sela Creek project in Suriname. The latest data includes four Jons Trend step-out holes (JT-020 to JT-023) and five first-pass scout holes at the new Howler target.

Headline hole 26DDH-JT-023 returned 35.25 m at 3.41 g/t Au from 97.75 m, with a true width of 24.9 m. This interval includes 5.55 m at 15.36 g/t from 112.55 m and 5.25 m at 3.40 g/t from 125.75 m, plus 12.1 m at 1.66 g/t, 18.0 m at 0.82 g/t and 19.5 m at 0.82 g/t further downhole. Hole 26DDH-JT-022 intersected 37.99 m at 1.60 g/t Au from 158.28 m (true width 29.1 m), including 6.0 m at 3.99 g/t, plus 22.91 m at 0.57 g/t and 14.0 m at 0.89 g/t.

Hole 26DDH-JT-020, located 80 m SW, returned a long tail of thin intervals with the best results being 9.14 m at 1.24 g/t and 5.93 m at 1.25 g/t, all classified as low grade. Hole 26DDH-JT-021, a 50 m N step-out, failed to identify significant stacked vein zones, returning only 2.5 m at 0.55 g/t and 4.0 m at 0.74 g/t.

At the Howler target, located approximately 750 m from the Jons-Big Berg corridor, five holes totaling 771.5 m were drilled. The best result was 26DDH-HOW-006 at 7.7 m at 1.30 g/t Au from 81.0 m, while all other Howler intervals ranged from 0.5–1.8 g/t over 1–4 m. Metals reported are gold only, with no equivalents used.

• Headline hole 26DDH-JT-023: 35.25 m at 3.41 g/t Au from 97.75 m (true width 24.9 m), including 5.55 m at 15.36 g/t from 112.55 m and 5.25 m at 3.40 g/t from 125.75 m; plus 12.1 m at 1.66 g/t, 18.0 m at 0.82 g/t and 19.5 m at 0.82 g/t further downhole.
• Hole 26DDH-JT-022: 37.99 m at 1.60 g/t Au from 158.28 m (true width 29.1 m), including 6.0 m at 3.99 g/t; plus 22.91 m at 0.57 g/t and 14.0 m at 0.89 g/t.
• Hole 26DDH-JT-020 (80 m SW): best 9.14 m at 1.24 g/t and 5.93 m at 1.25 g/t.
• Hole 26DDH-JT-021 (50 m N step-out): 2.5 m at 0.55 g/t and 4.0 m at 0.74 g/t.
• Howler (new target, ~750 m from the Jons-Big Berg corridor): five holes/771.5 m, best 26DDH-HOW-006 at 7.7 m at 1.30 g/t Au from 81.0 m; all other Howler intervals 0.5–1.8 g/t over 1–4 m.

Miata Metals Corp. (MMET) continues its exploration at the Sela Creek property as a pre-resource grassroots explorer, with no NI 43-101 resource currently in place. The company’s recent drilling program focused on continuity de-risking, with hole JT-023 extending a known high-grade plunge 50 m down-dip and JT-022 broadening the down-dip footprint. These results marginally expanded the system’s scale but remained consistent with the magnitude of the last two Jons Trend anchor holes, which ranged from approximately 120–147 g.m. The program did not open a new zone, depth frontier, or intrusive centre. The only genuinely new element, identified as Howler, delivered approximately 10 g.m at best, representing a scout result rather than a discovery.

On July 13, 2026, following the JT-019 announcement, MMET closed at $0.43. The stock now sits at $0.77, representing an increase of approximately 79%, or roughly a double, and remains only about 6% below its $0.82 high. This price movement suggests the market has already priced in results comparable to the 120 g.m Jons Trend holes. However, the market expectation remains to match or beat JT-019, and the latest results delivered a match at slightly lower grades.

The delta between the 120 g.m anchor and the 122 g.m result at modestly lower grade and larger true width constitutes an in-line confirmation rather than a miss. As an infill-like continuity and step-out hole for an explorer whose stock has already re-rated on this corridor, the marginal new information is modest. The results reinforce the open-pit, stacked-zone thesis but do not de-risk any new dimensions.

Miata Metals Corp. (TSXV: MMET; OTCQX: MMETF; FSE: 8NQ) is a Canadian junior exploration-stage company with no revenue. Its flagship asset is the Sela Creek Gold Project in Suriname, a roughly 215 km² orogenic gold property in which the company holds a 70% interest with an option to acquire 100%, subject to a 2% net smelter return (NSR) that allows for partial buybacks. The project features multiple targets, including Jons Trend, Big Berg, Puma East/West, Golden Hand, Stranger, Howler, and Cambior.

The company also holds a 70% beneficial interest with an option to 100% in the Nassau Gold Project, located approximately 100 km north of Sela Creek. This ~200 km² property, comprising concessions GMD 371/19 and 372/19, is currently pending renewal. No drilling occurred during the period, and only unverified historical or selective samples are available.

According to the company’s presentation, there are 168,183,129 shares outstanding and 196,327,961 fully diluted shares, with management and founders holding approximately 10%. Financial data indicates 105.7 million shares at March 31, 2026, with the remaining balance attributed to August 2026 financings.

In the prior period ending March 31, 2026 (Q3-2026), the company reported a net loss of approximately $9.4 million and exploration spending of roughly $6.8 million. Working capital stood at ~$8.5 million with no debt, and a going-concern flag was noted. The company raised approximately C$25.2 million in August 2026, resulting in ~C$26.6 million in cash post-financing. The reported positive EPS figure of +0.11 appears to be a sign-convention artifact, as the net loss was -$9.4 million.