RPX Gold Intersects 6.24 g/t Gold Over 19.68 Metres, Extending Near Surface High-Grade Gold Mineralization

RPX Gold Inc. (RPX) has released assay results from 11 drill holes totaling 1,845 meters, marking the fourth batch of its 2026 program designed to support a Preliminary Feasibility Study (PFS). The company reports that approximately 90% of the PFS-related drilling is complete, with the program scheduled to conclude in mid-November 2026. These results will feed into an updated Mineral Resource Estimate (MRE) and a PFS targeted for the first half of 2027. The current resource estimate remains unchanged by this release, standing at 22.909 million tonnes at 1.69 g/t Au for Indicated resources (1,244 koz) and 9.951 million tonnes at 1.59 g/t Au for Inferred resources (509 koz).

Assays for holes with open-pit potential, reported at a 0.40 g/t Au cutoff with a maximum 6.0 m internal dilution and no capping, include the following intercepts:

• SD-26-721 (Central): 19.68 m @ 6.24 g/t from 59.64 m, including 0.98 m @ 13.50 g/t, 0.99 m @ 11.00 g/t, 0.82 m @ 21.50 g/t, and 0.90 m @ 50.70 g/t
• SD-26-714 (South Pit): 5.67 m @ 18.49 g/t from 70.23 m, including 0.90 m @ 109.00 g/t
• SD-26-693 (South Pit): 5.88 m @ 4.55 g/t including 0.54 m @ 24.70 g/t; plus 3.01 m @ 5.53 g/t including 1.00 m @ 10.70 g/t
• SD-26-694 (South Pit): 11.91 m @ 1.42 g/t; plus 1.25 m @ 4.13 g/t
• SD-26-692: 7.19 m @ 1.11 g/t (South Pit) and 1.04 m @ 10.50 g/t (Hanging Wall)
• SD-26-707: 3.09 m @ 5.49 g/t and 1.00 m @ 10.80 g/t (Hanging Wall)
• SD-26-727A (Central): 2.00 m @ 14.33 g/t including 1.12 m @ 24.60 g/t; separate 0.81 m @ 22.50 g/t
• SD-26-729 (Central): 2.70 m @ 1.00 g/t and 2.15 m @ 3.54 g/t

Drill holes with underground potential yielded the following results:

• SD-26-705 (65): 20.93 m @ 3.15 g/t from 242.00 m, including 6.80 m @ 6.80 g/t and 0.93 m @ 11.70 g/t
• SD-26-718 (65): 10.48 m @ 6.03 g/t from 235.52 m, including 4.38 m @ 11.25 g/t
• SD-26-719 (Pango): 18.39 m @ 3.14 g/t from 231.31 m, including 0.70 m @ 14.20 g/t, 1.00 m @ 9.89 g/t, and 1.50 m @ 11.51 g/t

The release notes that true width is not provided for individual holes, stating only that true width is estimated at 50-95% of core length within the Jubilee Shear.

RPX Gold Inc. (RPX) is a post-PEA developer and advanced explorer that holds a 1.75 moz gold resource, a filed NI 43-101 PEA with a C$523M after-tax NPV at US$3,500/oz, and a PFS targeted for H1 2027. At this stage, the value driver is the conversion of inferred to indicated resources, the conversion of grade into recoverable ounces, and the capital and permitting path, rather than the discovery of a new zone.

Today’s release delivered grade confirmation at or above the modelled grades inside the pit design and underground plan, plus a hint of continuity in the North-South gap. This is exactly what an infill program is supposed to produce, marking the fourth consecutive release of the same shape. There was no change in the resource, mine plan, or study timeline.

The prior best open-pit intercepts on this zone were SD-26-626 at 13.33 m @ 8.77 g/t (116.9 g.m, 16 September 2026), SD-26-701 at 4.26 m @ 25.50 g/t (108.6 g.m, 7 October 2026), and SD-26-639 at 4.94 m @ 13.82 g/t (68.3 g.m). SD-26-721 at 122.8 g.m is modestly better than the best of those on combined grade and width, but it is a marginal improvement rather than a step change in scale, and it is a confirmation hole inside the PEA pit rather than a new system.

The stock peaked at C$0.27 on 2 March 2026 around the PEA, fell to C$0.13 on 20 July, and closed at C$0.14 on 2 November, within 8% of its 52-week low. The September and October drill releases did nothing for the price, moving from C$0.20 on 22 September to C$0.17 on 7 October to C$0.14 by 2 November. The market has classified this flow as confirmatory, and the release is technically clean, de-risking the PFS resource conversion.

Prior-period context not disclosed in today's release includes a FY2026 (year to 31 July 2026) net loss of C$9.63M and an operating cash outflow of C$9.21M. Cash stood at C$13.55M at 31 July 2026, with no debt, total equity of C$12.65M, and 445.99M shares outstanding. Auditors' going-concern qualification was noted in the MD&A. Exploration spend for the year was C$7.77M. At the FY2026 burn rate, the current cash position funds roughly four to five quarters, reaching the H1 2027 PFS with little margin and implying at least one more raise before a construction decision.

RPX Gold Inc. (formerly Red Pine Exploration), TSXV: RPX / OTCQB: RDEXF, is a gold explorer-developer whose sole material asset is the 100%-owned Wawa Gold Project. The property comprises roughly 70 km2 (123 patents/leases and 331 mining claims) in McMurray Township, about 2 km southeast of Wawa, Ontario, in the Michipicoten Greenstone Belt. The site sits next to operating or past-producing assets of Wesdome, Alamos Gold and Hemlo Mining, with road access from Highway 101, proximity to the Wawa airport, hydro grid power, five mills within trucking distance and rail via the Algoma Central. Site infrastructure includes a 30-person camp, core logging facilities and a core shack; permits are in hand for camp, tailings pond, water storage/polishing pond and closure plan, and no exploration permits are required on the patented claims and leases.

Geology and resource: shear-hosted orogenic gold in the Jubilee Shear and the Minto Mine shear, with a network of at least seven northwest-trending extensional shears in the Cooper area (Jasper, Bi-rich, Y106, Root, Cooper 11, Cooper, Ganley), quartz-tourmaline veins, a pyritic host and a gabbro dyke interpreted as a grade control. Mineral resource (effective 8 December 2025): total Indicated 1.244 moz at 1.69 g/t and Inferred 0.509 moz at 1.59 g/t, split as open pit 22.378 Mt @ 1.65 g/t Indicated and 7.534 Mt @ 1.24 g/t Inferred, underground 0.531 Mt @ 3.16 g/t Indicated and 2.417 Mt @ 2.69 g/t Inferred. Cutoffs 0.40 g/t (open pit) and 1.50 g/t (underground). Indicated ounces rose 48% versus the prior estimate.

Development plan: phased, capital-light. Shallow open pit for years 1-3 (48 koz/yr, 2.4 g/t, 88% recovery, strip 10.6:1) generating cash to fund underground years 3-9 (74 koz/yr, 3.6 g/t), all toll-milled with no on-site mill or tailings facility initially and contract mining throughout. PEA at US$3,500/oz: after-tax NPV5% C$523M, IRR 99.7%, initial capital ~C$51M, payback 0.9 years, LOM AISC US$2,149/oz; at US$4,500/oz NPV C$935M and IRR 181%. Sensitivity is steep: at US$2,450/oz NPV falls to C$86M and IRR to 19.3%.

Capital structure and ownership: 447.9M basic / 530.3M fully diluted shares; 11.2M options at C$0.20 average; 29.4M warrants at C$0.19 (May 2028) and 71.2M warrants at C$0.19 (July 2028). Alamos Gold holds approximately 8.9%; Franco-Nevada is a royalty holder (1.5% NSR sold in 2023 for C$6.75M) and there is a separate 2% NSR from a former JV partner, 1.5% of which is buyable for US$1.75M. Management and board include Michael Michaud (President & CEO, formerly IAMGOLD and Wesdome), Paul Martin (Chairman, formerly Detour Gold CEO), Gary O'Connor, Drew Anwyll, Jean-Francois Montreuil (VP Exploration) and Michael Josipovic (CFO).