RPX Gold Further Extends Zone of High-Grade Mineralization Within the PEA Open Pit

RPX Gold Inc. (RPX) released drill results from its ongoing 2026 exploration program at the Wawa Gold Project in Ontario, comprising 12 holes totaling 2,051 meters. The results extend high-grade mineralization within the 2026 Preliminary Economic Assessment (PEA) open-pit design and support the ongoing Preliminary Feasibility Study (PFS). The program is scheduled for completion by the end of October, with results intended to feed an updated Mineral Resource Estimate (MRE) targeting the first half of 2027.

The company reported the following intercepts, based on core length with a 0.40 g/t Au cut-off, a maximum 6.0 m internal dilution, and no capping:

• SD-26-701: 25.50 g/t Au over 4.26 m, including 135.00 g/t over 0.71 m (South Pit). A separate upper interval returned 14.17 m @ 0.68 g/t.
• SD-26-698: 3.75 g/t over 10.29 m, including 16.37 g/t over 1.36 m.
• SD-26-699: 4.12 g/t over 9.42 m, including 10.00 g/t over 0.99 m and 16.60 g/t over 0.99 m (65 area).
• SD-26-696: 5.78 g/t over 4.64 m, including 9.96 g/t over 2.41 m.
• SD-26-704: 4.29 g/t over 5.92 m, including 10.90 g/t over 1.60 m.
• SD-26-702A: 3.79 g/t over 6.13 m, including 9.56 g/t over 1.76 m (65 area).
• SD-26-700: 1.99 g/t over 15.68 m, including 11.50 g/t over 1.53 m.
• SD-26-689: 3.53 g/t over 5.00 m (gap between South and North pits).
• SD-26-686: 2.14 g/t over 3.50 m; SD-26-691: 2.32 g/t over 5.34 m; SD-26-695: 1.39 g/t over 6.49 m; SD-26-690: 2.50 g/t over 0.96 m (Surluga crown pillar); SD-26-688: 1.40 g/t over 1.06 m (ended in mine workings); SD-26-691A: 1.99 g/t over 1.00 m.

No metal equivalents are used in this release. The announcement does not include new resource estimates, economic studies, or metallurgical data.

RPX Gold Inc. (RPX) is an advanced explorer and pre-developer that has completed a preliminary economic assessment (PEA) valuing the project at C$523 million NPV with a 99.7% internal rate of return at US$3,500/oz. The company holds a 1.24 million ounce Indicated and 0.51 million ounce Inferred resource, with a prefeasibility study (PFS) targeted for the first half of 2027.

Recent drilling confirmed the existing resource model without expanding the deposit’s scale or grade. The infill drilling occurred inside the existing PEA pit, returning grades at or above the 1.69 g/t and 1.59 g/t resource thresholds, along with a modest extension into a previously identified pit gap. This work de-risks the resource conversion required for the PFS but does not add new dimensions to the deposit.

The market-moving events for the company were the February 18, 2026 PEA and mineral resource estimate (MRE). Following those releases, the stock rose from approximately C$0.17–0.20 to a peak of C$0.27 in early March before round-tripping to C$0.13 by July. The September 16 drill release had a minimal impact, moving the stock only from C$0.16 to C$0.17. The stock currently trades at C$0.18, sitting in the mid-to-lower portion of its 52-week range.

Financially, RPX held C$2.79 million in cash as of April 30, 2026, supplemented by a C$14.15 million raise on May 13, 2026. The company reported operating cash use of approximately C$6.8 million over nine months. The equity structure includes roughly 448 million shares outstanding and a significant warrant overhang of approximately 100 million warrants near C$0.19. Dilution and funding risks remain central to the company’s financial profile.

RPX Gold Inc. (TSXV: RPX; OTCQB: RDEXF), formerly Red Pine Exploration Inc., is the 100% owner of the Wawa Gold Project, a ~70 km² property located in McMurray Township, 2 km southeast of Wawa, Ontario, within the Michipicoten Greenstone Belt. The project sits adjacent to operations operated by Wesdome, Alamos, and Hemlo Mining.

The company’s Jubilee Shear and Minto Mine deposits contain an Indicated resource of 22.909 Mt @ 1.69 g/t Au (1,244 koz) and an Inferred resource of 9.951 Mt @ 1.59 g/t Au (509 koz). These figures are based on an open-pit cut-off of 0.40 g/t and an underground cut-off of ~1.50–2.34 g/t.

The development strategy involves a phased approach, starting with open-pit mining followed by underground operations. The plan utilizes regional toll milling to avoid the need for an on-site mill and tailings facility. A preliminary economic assessment (PEA) indicates an initial capital cost of ~C$51M, with a payback period of less than one year and an all-in sustaining cost (AISC) of US$2,149/oz at an Au price of US$3,500/oz.

Regarding related parties and holders, Alamos Gold holds ~8.9% and Franco-Nevada holds 1.5%. Franco-Nevada sold a 1.5% NSR in 2023 for C$6.75M. Additionally, a former joint venture partner holds a 2% NSR, which is buyable for US$1.75M.