Legacy Gold's First NE Zone Drill Hole Returns 6 Gold Zones, Including 1.0 g/t Gold over 74.5ft (22.7m) at Baner, Idaho

Legacy Gold Mines Ltd. (LEGY) reported assay results from a single core hole, LG26-011, marking the first time the company has drilled specifically to test the Northeast (NE) Zone at its Baner property in Idaho. All assays included in the release originate from this single hole.

The headline intercept returned 1.0 g/t Au over 22.7 m (74.5 ft) from 102.1 m downhole. This interval includes higher-grade segments of 5.78 g/t over 0.55 m, 3.36 g/t over 0.60 m, and 5.25 g/t over 1.00 m.

Additional reported intervals include: * 0.36 g/t over 4.75 m * 0.14 g/t over 9.60 m * 0.25 g/t over 14.50 m * 0.45 g/t over 4.70 m * 0.47 g/t over 0.60 m * 0.73 g/t over 3.00 m * A scatter of sub-0.4 g/t one-metre runs down to 285 m * 1.89 g/t over 2.0 m at 310.2 m (near the end of the 320 m hole)

The company identified six zones of gold mineralization, stating that the grades, thicknesses, and number of zones are similar to those encountered in the Main Zone. Oriented core suggests these zones trend northeast and dip flat-to-southeast, differing from the northwest-trending Main Zone. The interpretation is that the NE Zone may bend along a fault toward the Main Zone, though true widths have not yet been determined.

The hole was drilled at a 214-degree azimuth and -45-degree dip to test historical hole ICGB2020-2, drilled by a previous operator, which returned 0.65 g/t over 24.5 m and 0.70 g/t over 35.2 m. Legacy Gold argues that the historical holes were drilled down-dip and that the new result is more indicative of actual mineralized widths.

The current drilling programme has completed 11 core holes and 28 RC holes, though only this one hole’s assays are included in the release. The resource target remains late Q4 2026 / early Q1 2027.

Legacy Gold Mines Ltd. (LEGY) is an exploration-stage, pre-resource issuer, with materiality measured against a C$67 million equity rather than a producer’s reserve base. The NE Zone has been a known, planned target since early 2026, with historical intersections of 0.65-0.70 g/t already in the public domain and cited in prior releases. There is no Legacy NE Zone result to beat, so the anchor is the historical data, and this hole lands at or marginally above it. The market has had the NE Zone in its expectations for months.

The stock has roughly tripled from ~C$0.32-0.46 (Feb-Apr 2026) to C$1.10, driven primarily by the closing of the C$10M financing at C$0.30 (April) and the broader Main Zone drill story, which produced 100-187 m wide intercepts. The stock sits at C$1.10 against a C$1.30 high — it has drifted ~15% off the peak and has not reacted to recent drill releases (it slipped on the Sept 23 result). The Main Zone narrative, not the NE Zone, is what the price embeds.

On substance, this hole is consistent with expectation and with the deposit's grade range. It grows the footprint by confirming a new zone with Main-Zone-like character — a genuine positive — but it is one hole, no true width, moderate gram-metres, and no deposit-defining grade. This is a strong lone first hole in a new zone, awaiting confirmation.

Legacy Gold Mines Ltd. (TSXV: LEGY) is a Canadian exploration and development company holding an option to acquire a 100% undivided interest in the Baner Gold Mine Property, located in Idaho County, Idaho, within the historic Orogrande Gold Mining District. The three-year agreement requires payments of C$450,000 cash, 1.3 million shares, and 400,000 warrants to date, with a remaining payment of C$500,000 cash plus 200,000 warrants due by the end of March 2027. The deal also includes a 1% net smelter return (NSR) with a C$7.5 million buyback option.

No mineral resource or reserve is currently defined for the property. A conceptual Exploration Target estimates 50.3 to 55.3 million tonnes at 0.72 to 0.91 grams per tonne of gold, based on 46 drill holes totaling 10,459 meters over 2.3 kilometers of strike. This target is not a NI 43-101 resource.

The company’s leadership includes Chairman and CEO Brian Hinchcliffe and Vice President of Exploration Michael Sutton, both former principals at Kirkland Lake Gold. The board of directors includes individuals with experience at Kirkland Lake, Rupert Resources, Red Pine, and PwC.

As of June 30, 2026, the company’s capital structure consisted of approximately 61.1 million shares, 3.67 million options, and 400,000 warrants. The company held C$6.28 million in cash with no debt, resulting in a market capitalization of approximately C$67 million at a share price of C$1.10.