Tiger Gold Extends Mineralization to the South at Ceibal, Drilling 268 m @ 0.5 g/t Au from Surface

Tiger Gold Corp. (TIGR) reported results from a single drill hole, CEDDH-023, at the Ceibal target within its Quinchía Gold Project in Colombia. The hole intersected 268 meters at 0.5 grams per tonne gold from surface, including 0.8 grams per tonne silver, 0.04% copper, and 17 parts per million molybdenum.

The upper 26.8 meters of the intersection lies within supergene-altered saprolite, which the company stated may in part reflect supergene enrichment. Below 268 meters, gold grades generally fell below 0.2 grams per tonne gold, with no further intervals meeting the composite criteria. The hole was oriented at N180° with a dip of −50°, reaching a total length of 360.4 meters. The release noted that true widths are unknown and all intervals are reported as downhole core lengths.

The drilling was designed to test a gap at the southern end of the mineralized corridor, with the company stating it extends mineralization south into a previously untested part of the corridor. The hole entered basalt at 341 meters and logged propylitic alteration from 288 meters, which is interpreted as drilling into the outer alteration halo and approaching the southern margin of mineralization.

Four additional holes—CEDDH-024, -029, -031, and -032—are currently testing the western and southwestern extensions, while a scissor pair, CEDDH-020/-021 and CEDDH-022 for geometry testing, remain pending. Three rigs are active at Ceibal, with more than 10,100 meters drilled to date. The company targets a maiden Ceibal Mineral Resource near the end of the first quarter of 2027.

Drilling at the Tesorito project concluded on September 30, 2026. Assays are pending for 19 holes totaling 3,484 meters. An updated Tesorito resource is expected in early 2027, with an updated preliminary economic assessment targeted for near the end of the first quarter of 2027.

Tiger Gold Corp. (TIGR) is a pre-resource explorer and developer with a market capitalization of approximately C$81 million, currently generating no revenue and holding no reserves. Its Ceibal project lacks a resource estimate. For a company at this stage, each new assayed hole that expands the footprint is considered modestly relevant to the thesis, provided it increases the scale or grade beyond what has already been demonstrated.

The recent drilling results marginally change the deposit and thesis by extending the known corridor approximately one hole to the south as a gap-fill at the corridor’s established 0.5 g/t grade. The hole was interpreted as approaching the southern margin and did not reveal a new intrusive centre, new depth, or a step-change in grade.

The market has not re-rated on the corridor, with the stock round-tripping from a C$1.00 peak in May to C$0.62, placing it close to its 52-week low of C$0.53. Consequently, the significant Ceibal holes drilled on July 23, CEDDH-011 and 012, are not viewed as an embedded anchor that the next release must clear. The release is not judged against a "priced-for-perfection" standard, nor is it materially better in grade and width substance than anything previously demonstrated, as it features the same 0.5 g/t grade with shorter width.

The results represent a continuation of a well-disclosed but low-grade, incremental extension. The findings keep the Ceibal story alive and on track for a maiden resource expected in Q1 2027, but do not meaningfully move scale, grade, or odds.

Tiger Gold Corp. (TSXV: TIGR; FSE: D150; OTCQB: TGRGF) is the 100% owner of the Quinchía Gold Project, located in the Mid-Cauca belt of Risaralda, Colombia. The site sits within an established mining region featuring highway, rail, and power infrastructure. The company’s portfolio includes the Miraflores deposit, which holds Measured and Indicated resources of 6.1 million tonnes at 2.62 grams per tonne of gold for approximately 510,000 ounces. The Tesorito deposit contains Inferred resources of 104 million tonnes at 0.47 grams per tonne of gold, equating to 1.57 million ounces of gold and approximately 1.96 million ounces of silver. Historical data for the Dos Quebradas deposit lists 20.2 million tonnes at 0.71 grams per tonne of gold for approximately 459,000 ounces, though this is not treated as a current resource. A maiden resource for the Ceibal deposit is targeted for completion by the end of the first quarter of 2027.

A preliminary economic assessment (PEA) for Miraflores and Tesorito, effective September 18, 2025, projects a post-tax net present value of US$534 million and an internal rate of return of 21.3% at a gold price of US$2,650 per ounce. At a gold price of US$3,700 per ounce, the project shows upside to a US$1.188 billion net present value and a 36.5% internal rate of return. The assessment outlines a mine life of approximately 10.2 years, with an average annual production of 138,000 ounces of gold and an all-in sustaining cost of approximately US$1,340 per ounce. By definition, the PEA includes Inferred material and is preliminary; Mineral Resources are not Reserves and have no demonstrated economic viability.

To date, the company has raised approximately US$45 million, including a C$21 million oversubscribed special-warrant financing completed in June 2026. The financing consisted of 25.6 million special warrants at C$0.82 per unit, with a C$1.20 warrant overhang. According to the company’s presentation, the capital structure comprises approximately 131.3 million shares outstanding, 9.2 million options, and 54.8 million warrants, resulting in approximately 195 million fully diluted shares.

Management includes CEO and President Robert Vallis, COO Rickardo Welyhorsky, Executive Chairman Keith Dolo, and CFO Amish Patel.