Tiger Gold Completes Infill and Extension Drill Program at Tesorito and Accelerates Drilling at Ceibal with Three Rigs

Tiger Gold Corp. (TIGR) issued an operational update confirming that no new assay results are included in this release, with all quoted grades serving as recaps of previously published data. Drilling at the Tesorito project has concluded, comprising 12,124 meters across 48 holes since November 2025, including one abandoned hole, TSDH-82-AB, measuring 28 meters. To date, assays have been reported for 28 holes totaling 8,600 meters, while 19 holes (3,484 meters) remain pending and are expected to be released over the coming weeks.

All three drilling rigs have relocated to the Ceibal project, where work is intended to support a maiden Mineral Resource estimate targeted for late Q1 2027. The company noted there is no certainty that a Mineral Resource estimate will be defined at the Ceibal target. Milestones have been restated to include an updated Tesorito Mineral Resource target for early Q1 2027, followed by a Preliminary Economic Assessment (PEA) covering Tesorito, Miraflores, and the anticipated Ceibal target near the end of Q1 2027, leading into pre-feasibility-level studies.

Previously reported highlights from Tesorito include:

• TSDH-88: 234.54 m @ 1.2 g/t Au from 2 m (including 26.57 m @ 2.3 g/t and 27.6 m @ 1.8 g/t)
• TSDH-87: 180.3 m @ 1.0 g/t Au from surface (including 66.5 m @ 1.3 g/t)
• TSDH-92: 243.4 m @ 0.5 g/t Au from 2 m (including 7.2 m @ 2.8 g/t and 6 m @ 2.8 g/t)
• TSDH-95: 342 m @ 0.5 g/t Au from 92 m (including 9.7 m @ 1.7 g/t)
• TSDH-71: 89.96 m @ 0.9 g/t Au from 426 m (including 16.9 m @ 2.3 g/t Au, 0.25% Cu, 158 ppm Mo, and 6 m @ 4.1 g/t Au, 0.43% Cu)
• TSDH-80: 305.55 m @ 0.5 g/t Au from 516 m (including 15.7 m @ 1.1 g/t and 8 m @ 1.3 g/t, 0.16% Cu, 131 ppm Mo)

The release clarified that all intervals shown represent downhole core lengths, noting that previous releases presented estimated true widths.

Tiger Gold Corp. (TIGR) issued a procedural update regarding its Tesorito project, confirming that drilling is complete at 12,124 meters across 48 holes. Nineteen holes totaling 3,484 meters of assays remain pending. The company has signaled these pending results since at least September.

Prior-period financial context shows that for the three months ended October 31, 2025, Tiger reported nil revenue, selling, general and administrative expenses of C$1,876,577, and a net loss of C$1,888,338. Earnings per share were -C$0.03. Cash on hand was C$3,841,767 and total equity stood at C$3,770,133. This balance sheet predates the January 2026 raise of approximately $16.3 million and the June 2026 C$21.0 million special-warrant offering, meaning current liquidity is materially higher than the statement reflects.

The market reacted to the September 22 release, which contained the highest-profile intervals of 342 meters at 0.5 g/t and 333.6 meters at 0.5 g/t, by moving the stock from $0.74 to $0.78. The price faded to $0.68 within a week and reached $0.65 by October 6. This demonstrates that the market does not re-rate on additional long, low-grade Tesorito composites. A stronger move occurred in August, with the stock rising from $0.74 on August 18 to $0.94 by August 25. That window coincided with the close of the $21 million financing and the narrative of a four-rig accelerated program.

Tiger is an explorer and developer with a filed Preliminary Economic Assessment (PEA) based on prior-period data from September 2025. The PEA indicates a post-tax net present value of US$534 million at US$2,650/oz and US$1.188 billion at US$3,700/oz. The company has no reserves and 1.57 million ounces of its 2.1 million ounce resource base sits in the Inferred category at 0.47 g/t. Status updates are considered housekeeping at this stage; only assay batches, resource conversions, or a PEA re-rate typically affect the equity.

The market expectation is that the 0.47 g/t Inferred grade at Tesorito must convert to Indicated at or above 0.47 g/t. Additionally, a meaningful portion of the north-northeast higher-grade trend, specifically the TSDH-88-type interval averaging approximately 1.2 g/t, must survive into the model. The 19 pending holes will determine this outcome.

Tiger Gold Corp. is a TSXV-listed gold explorer and developer focused on the 100%-owned Quinchía Gold Project in the Mid-Cauca belt, Department of Risaralda, Colombia. The company secured 100% ownership via a final AUD$4.5M option payment to LCL Resources, completing a total AUD$14M cash payment plus AUD$6.5M contingent on production milestones and a 1% NSR subject to buyback, which was finalized in June 2026.

As of July 31, 2025, the company reported Miraflores Measured and Indicated resources of 6.1 million tonnes at 2.62 g/t Au, containing approximately 0.51 million ounces of gold and 0.44 million ounces of silver, alongside a small Inferred component. The Tesorito deposit holds an Inferred resource of 104 million tonnes at 0.47 g/t Au, containing 1.57 million ounces of gold and 1.96 million ounces of silver at a 0.20 g/t Au open-pit cutoff. Dos Quebradas represents a historical JORC 2012 resource of 20.2 million tonnes at 0.71 g/t Au, containing 459,000 ounces of gold, which the company does not treat as current. There are no Mineral Reserves.

A Preliminary Economic Assessment (PEA) effective September 18, 2025, projected a post-tax NPV(5%) of US$534 million and an IRR of 21.3% at US$2,650/oz Au. The plan outlines a 10.2-year mine life with average annual production of 138,000 ounces of gold and 104,000 ounces of silver. Cash costs are estimated at US$1,199/oz, with an AISC of US$1,340/oz. An upside case at US$3,700/oz yields a US$1.188 billion NPV and 36.5% IRR. The PEA is preliminary, built on Inferred material, and includes no reserves.

The company’s pipeline includes the Ceibal target, an 800 m x 600 m Au-Mo surface anomaly located approximately 1 km south of Miraflores and 1 km southwest of Tesorito. Drilling with three rigs is underway toward a maiden resource expected near the end of Q1 2027. An initial program at Dos Quebradas has been completed, while Chuscal and other targets are drill-ready.

Per an investor presentation, Tiger Gold has 131,295,849 shares issued, 9,230,000 options, and 54,792,479 warrants, resulting in 195,318,328 fully diluted shares. Ownership is distributed as approximately 58% retail, 20% management and insiders, and 22% institutions. The company has raised roughly C$45M to date, most recently through a C$21.0M oversubscribed special-warrant offering at C$0.82 with C$1.20 half-warrants with a 36-month term. The presentation also cites analyst coverage at SCP Resource Finance with a C$2.60 target.

Financial data for Q1-2026 (three months ended October 31, 2025) showed nil revenue, SG&A of C$1.88M, a net loss of C$1.89M, cash of C$3.84M, and equity of C$3.77M. Subsequent raises have left the current cash position materially higher. At the time, the burn rate was approximately C$1.2M in operating costs and C$1.1M in capex per quarter, before escalations to 160+ staff and four rigs, meaning the C$21M raise funds roughly two years of the current program.