QGold Initiates 2026 Drilling Campaign at Mine Centre

Q-Gold Resources Ltd. has officially commenced its 2026 drilling campaign at the Mine Centre Gold Project in Ontario, focusing on the historic Foley Mine area. The initial phase targets the Zinc and Twin veins, aiming to expand known mineralization along strike and dip. Four holes are complete, with subsequent holes currently underway.

A second phase will follow up on high-grade soil samples collected during summer field mapping, targeting areas north of the Foley Mine. The primary objective is to advance the project toward a maiden NI 43-101 compliant mineral resource estimate, targeted for early 2027. The company is evaluating the potential for an open-pit mining concept versus conventional underground mining, contingent on technical and economic assessments. Qualified Person Jason Arnold, P.Geo., has reviewed and approved the technical information.

Q-Gold Resources Ltd. (QGR) announced expected, incremental progress at its Mine Centre project, marking a step in a previously outlined timeline rather than a market-moving surprise. The company had earlier announced that drilling at Mine Centre was scheduled for the summer and fall of 2026, a plan it has been systematically advancing through mapping and grab sampling to build its target inventory.

High-grade grab samples reported in September 2026, reaching up to 600 g/t Au, provided the geological justification for the current drill program. This latest release confirms the execution of that plan.

While the news is positive, it does not alter the company's fundamental valuation drivers, which remain anchored to the Quartz Mountain Preliminary Economic Assessment (PEA) released in April 2026. The Mine Centre project remains in the exploration phase with no defined resource.

Q-Gold Resources Ltd. is a Canadian exploration and development company focused on gold and silver assets in North America. Its flagship asset is the Quartz Mountain Gold Project in Lake County, Oregon, which the company acquired from Alamos Gold in October 2025. A preliminary economic assessment (PEA) released in April 2026 outlines a 14-year mine life with 1.9 million ounces of life-of-mine production. At a gold price of $3,265/oz, the project projects a $1.71 billion after-tax net present value (NPV) at a 5% discount rate and a 55.2% internal rate of return (IRR).

The company also holds secondary assets, including the Mine Centre Gold Project in Ontario and the Angel's Camp project in Oregon. Both properties are in exploration or pre-development stages, targeting high-grade vein systems and historical showings. Q-Gold Resources is currently transitioning from exploration to advanced development, with a focus on permitting, metallurgical testing, and resource definition.