Gold Strike Reports Assays from First Drill Hole at Florin Project, Returning 400 Metres of 0.53 g/t Gold from near Surface, Including 50 m of 1.07 g/t Gold

Gold Strike Resources Corp. (GSR) has released assay results for the first hole, 26F-01, of its 11-hole, 4,014-meter 2026 Florin program. Ten of the eleven planned holes remain unreported. Hole 26F-01 was drilled at an azimuth of 120° and a dip of -45°, reaching a total depth of 588.6 meters. The company states that the hole was drilled along the 120° structural trend and the long axis of the resource footprint.

The main reported interval spans 400 meters at 0.53 g/t Au from 15 meters to 415 meters, including a higher-grade section of 50 meters at 1.07 g/t Au from 236 meters to 286 meters. Two individual samples within this interval recorded the highest grades: 11.5 g/t Au over 1 meter from 248 meters, and 10.4 g/t Au over 1 meter from 284 meters.

Three deeper intervals were also reported: * 32 m at 0.23 g/t Au from 425 m * 50 m at 0.27 g/t Au from 476 m * 39 m at 0.22 g/t Au from 548 m

The release notes that there has been insufficient drilling to determine the true width of the mineralization. No cutoff is stated for the reported intervals, though a technical-report footnote references a 0.30 g/t Au cutoff for the existing inferred resource. The three deeper intervals, ranging from 0.22 to 0.27 g/t Au, sit below this resource cutoff.

Contextually, seven of the 11 holes are definition or extension holes on the resource footprint, while four are step-outs. The step-outs include three to the west at Denari and one to the east at Treadwell/Saddle. Assays for these step-out holes are not included in this release.

Gold Strike Resources Corp. (GSR) is an explorer and early developer in the pre-revenue stage, holding a defined but inferred gold resource of 2.507 moz Au, comprising 162.783 Mt at 0.48 g/t Au using a 0.30 g/t cutoff. The company’s latest filed MD&A includes a going-concern flag.

The recent drilling confirmed that historical resource-grade continuity extends over a long near-surface run along the trend, along with a modest depth extension into sub-cutoff grade. This confirmation does not de-risk the scale of the resource, which is already known, nor does it add new economic tonnes.

The stock has declined from C$0.77 in October 2025 to C$0.29 on October 14, 2026, closing at C$0.30 the day before the release, a level near its 52-week low. The current price assumes very little about the drilling results. Consequently, downside from a merely in-line hole is limited, and a solid confirmation is mildly positive. However, the upside trigger the market is waiting for is a step-out that grows the system, rather than a within-footprint repeat that is weaker than the best historical holes.

The results represent an at- or about-resource-grade confirmation with sub-cutoff depth hits and an unnamed true width.

Gold Strike Resources Corp. (TSXV: GSR; OTC Pink: GDSRF) is a Yukon-focused gold explorer and early developer holding approximately 400 km² of claims in the Tombstone Gold Belt. Its core assets include the Florin Gold Project, which holds a pit-constrained inferred resource of 2.507 moz Au, comprising 162.783 Mt at 0.48 g/t Au at a 0.30 g/t cutoff, effective December 5, 2025, prepared by GeoSim and QP David Kelsch. The company also controls the FLR, RJ, Gold Strike One, and Gold Strike Two properties. Gold Strike One surrounds and adjoins Snowline’s Valley deposit. Additionally, the company holds a legacy 60% interest in the Oweegee Dome copper-gold project in the BC Golden Triangle, which is being advanced through joint venture discussions with ArcWest.

The LIRECA Group is the controlling shareholder with approximately 51% ownership, a structure that provides high vendor and insider alignment but results in a limited public float and related-party overhang. Management includes CEO Peter Miles, President and exploration geologist Buddy Doyle, and CFO Simon Anderson. David Kelsch serves as the Qualified Person, and the advisory board includes Jim Gowans, formerly of Barrick.

The company is pre-revenue and carries a going-concern flag in its FY-2026 filings. It acquired Aurei, including the Florin, FLR, and RJ assets, for approximately C$34M. The consideration consisted of 43.6 million shares, C$5M in cash on closing, C$2.5M due in May 2027, and C$2.5M due in May 2028. The acquisition was funded via a C$17.22M bought-deal subscription receipt offering at C$0.55, with units carrying C$0.75 warrants. The company’s 2026 drill programme, exceeding 8,000 meters, was described as fully funded.