Evergold Drills 4.9 m of 7.70 g/t Au and 186.0 g/t Ag Within 13.5 Metres of 2.84 g/t Au and 127.6 g/t Ag in First 2026 Drill Holes at Golden Lion

Evergold Corp. (EVER) has completed its 2026 diamond drilling program at the GL1 Main Zone of its 100%-owned Golden Lion property in Toodoggone, BC. The program consisted of 16 holes totaling 3,988 meters drilled in July and August 2026. First assay results have been released for six of these holes.

The standout result came from hole GL26-031, which returned 13.50 meters at 2.84 g/t Au and 127.65 g/t Ag from 199.0 to 212.5 meters. This interval included a higher-grade segment of 4.90 meters at 7.70 g/t Au and 186.0 g/t Ag from 204.1 to 209.0 meters. Additional intercepts in GL26-031 included 5.6 meters at 0.45 g/t Au and 52.3 g/t Ag, as well as 11 meters at 0.04 g/t Au and 61.8 g/t Ag.

Hole GL26-027 returned 53.23 meters at 0.94 g/t Au and 3.8 g/t Ag from 103 to 156.23 meters. This interval included 9.35 meters at 2.26 g/t Au (text) / 1.98 g/t Au (Table 3) and 6.5-7.3 g/t Ag. Hole GL26-026 returned 44.00 meters at 0.74 g/t Au and 6.87 g/t Ag from 101 to 145 meters. It also included 18.75 meters at 0.49 g/t Au from 68.25 to 87 meters, and 4 meters at 0.26 g/t Au and 18.7 g/t Ag.

Other results included GL26-028 with 4.5 meters at 0.79 g/t Au and 15 meters at 0.34 g/t Au; GL26-029 with 12 meters at 0.34 g/t Au; and GL26-030 with 22.5 meters at 0.42 g/t Au and 19.5 meters at 0.49 g/t Au and 12.6 g/t Ag.

The drilling utilized a 0.30 g/t Au cutoff with up to 3 meters of internal dilution and was uncapped. The reported intervals are core lengths, and true widths are not yet known. The new holes were drilled on two fences stepping out approximately 40 meters and 100 meters southeast of the 2021 holes. Multi-element ICP analysis for Cu, Pb, and Zn is pending for all six holes. Additionally, Evergold appointed an IR Manager at a cost of $6,000 per month.

Evergold Corp. (EVER) is a pre-resource junior explorer with a market capitalization of approximately C$10 million. For a company at this stage, a step-out that confirms continuity is considered more material than an infill hole at a producer, though the overall impact is capped by the size of the incremental data.

The company’s latest release marks the first hard assays since 2021. The results confirm the continuity of the GL1 envelope across two step-outs ranging from approximately 40 to 100 meters and extend a discrete high-grade gold-silver zone to the southeast. This represents new information for the market that has not been available for five years.

However, the scale of the system remains unchanged. The grades and widths are in line with, or modestly below, the 2021 anchor data. The release did not identify a new zone, a new depth horizon, a new resource, or any metallurgical work.

The relevant prior results serve as the expectation anchor, specifically the 2021 holes. The stock rose from approximately C$0.20 in December 2025 to between C$0.60 and C$0.66 in January and February 2026. This increase was driven by the Ore Group recapitalization and repositioning rather than drill results. By September 30, 2026, the stock had drifted to approximately C$0.45, below its 2026 highs. Consequently, the 2021 anchor is only partially embedded in the market price; investors paid for the story and the program rather than a specific grade. This dynamic removes the downside case for a negative rating on a weak delta, but it also means that an in-line result does not re-rate the equity.

The release confirms the existing thesis with reasonable numbers but delivers roughly what the current geological model already implied. It serves as a positive confirmation rather than a scale step-change.

Evergold Corp. (TSXV: EVER) is an early-stage junior explorer with no revenue and a disclosed going-concern flag. The company’s flagship asset is the 100%-owned Golden Lion gold-silver (copper) property in the Toodoggone district of northern BC. The property spans more than 12,500 hectares, including the recently acquired Copper King claims, and is located approximately 9 km north of Thesis Gold's Ranch property.

The GL1 Main Zone is an intermediate-sulphidation epithermal Au-Ag (± base metals) deposit situated on the Claw Mountain fault. Historical work was conducted by Newmont (2,475 m, 1982-1984) and Evergold (4,825 m, 2019-2021). The area features a gold-silver soil anomaly of approximately 2-2.7 km, with higher-grade cores within a broad low-grade envelope.

Other assets include DEM Mountain in BC (Au-Sb-critical metals), Rockland in Nevada (optioned to Wolfden Resources), and the dormant Holy Cross and Snoball properties. No mineral resource or reserve exists on any property.

The balance sheet shows cash of C$2,315,554 at Q1-2026, up from C$8,140 at FY-2025. The company reports a working capital surplus of C$2,208,467 and total debt of C$303,777, consisting of convertible debentures held by Executive Chairman C.J. Greig. There are approximately 22.8 million shares outstanding post the April 2026 financings, representing a market cap of approximately C$10 million, plus warrants at C$0.80 and unlisted optionality. Management includes Alex Walcott (President/CEO), C.J. Greig (Executive Chairman), and Leon Ho (CFO).