Scottie Resources Hits 6.0 g/t Gold over 21.20 m and 14.4 g/t Gold over 8.00 m at Blueberry Contact Zone

Scottie Resources Corp. (SCOT) has released a further batch of 2026 assays from the Blueberry Contact Zone at its Scottie Gold Mine Project, located 35 km north of Stewart, BC. The company confirmed that the 2026 drilling program is complete, totaling 61,578 meters across 227 holes. While most assays—stated as more than 85%—remain outstanding, ten holes have been tabulated so far. Scottie frames these results as infill drilling that reinforces the existing 2025 Preliminary Economic Assessment (PEA) mine plan at Lemoffe 1 and Lemoffe 4, as well as extensions at Blueberry 5 and Fifi 2.

Reported intercepts (core length, uncut, per Table 1):

• SR26-539, Lemoffe 4: 21.20 m @ 6.0 g/t Au (271.00–292.20 m), incl. 3.35 m @ 18.9 g/t and 7.40 m @ 6.4 g/t; plus 2.10 m @ 2.5 g/t
• SR26-513, Lemoffe 1: 8.00 m @ 14.4 g/t Au (96.00–104.00 m), incl. 3.75 m @ 24.1 g/t; plus 6.00 m @ 2.1 g/t (Lemoffe 4)
• SR26-495, Blueberry 5: 9.00 m @ 9.8 g/t Au (301.00–310.00 m), incl. 1.00 m @ 62.8 g/t; plus 4.00 m @ 1.7 g/t; plus 2.00 m @ 11.6 g/t (Fifi 2, ~115 m down-dip)
• SR26-502, Road 1: 4.00 m @ 7.3 g/t Au (20.00–24.00 m, near surface, inside proposed pit shell); plus 3.00 m @ 19.9 g/t (Blueberry 5, ~20 m opposite side of SR26-495)
• SR26-548, Blueberry 2: 5.10 m @ 9.3 g/t Au, incl. 1.10 m @ 31.2 g/t (inside proposed pit shell)
• SR26-499, Fifi 2: 3.65 m @ 11.7 g/t Au, incl. 1.70 m @ 20.3 g/t (~35 m outboard of nearest pierce point)
• SR26-549, Lemoffe 3: 5.85 m @ 5.7 g/t Au, incl. 1.45 m @ 11.3 g/t
• SR26-558: 2.00 m @ 8.5 g/t (Lemoffe 1), 1.25 m @ 6.9 g/t and 1.25 m @ 6.3 g/t (Orphan)
• SR26-518: 7.05 m @ 2.2 g/t (Lemoffe 1) plus narrow 1.0–1.45 m values of 1.3–5.0 g/t
• SR26-521: 1.40 m @ 2.2 g/t (Bend)

The resource context remains unchanged, with an Inferred resource of 3.6 million tonnes at 6.1 g/t Au for 703,000 ounces, as of May 7, 2025. This estimate excludes approximately 27,000 meters of 2025 drilling and more than 60,000 meters of 2026 drilling. An updated Mineral Resource Estimate (MRE) and Feasibility Study are both scheduled for early in the first half of 2027.

Scottie Resources Corp. (SCOT) has released drill results from its Lemoffe deposit, an advanced explorer and developer with a 703,000 oz Inferred Mineral Resource Estimate (MRE), a completed Preliminary Economic Assessment (PEA), and an ongoing Feasibility Study. The company is capitalized at approximately C$177 million. For a project at this stage, materiality is judged against resource conversion and mine-plan execution rather than discovery risk.

The latest drilling is predominantly infill and resource-definition work. The two headline holes fall within the 2025 PEA mine plan. The benchmark for these results is the resource and mine-plan grade of 6.1 g/t Inferred and 6.86 g/t in the plan. Both Lemoffe holes returned grades at or above these benchmarks across mineable widths, an outcome required for the Feasibility Study.

Recent historical results at Lemoffe include: * Sept 9, 2026 — SR26-492: 18.00 m @ 9.7 g/t (175 g·m) * Oct 28, 2026 — SR26-526: 7.00 m @ 23.1 g/t (162 g·m) and 6.00 m @ 23.1 g/t (139 g·m) * Oct 14, 2026 — SR26-509: 4.15 m @ 27.9 g/t (116 g·m)

Today’s best intercepts were 127 g·m at 6.0 g/t and 115 g·m at 14.4 g/t. These results are in line with, or marginally below, the recent run-rate on gram-metres. The grade distribution on hole SR26-513 was better than the prior batch’s narrower high-grade hits.

Scottie Resources shares peaked at C$3.20 on Sept 9, 2026, the day of the SR26-492 release, and have since fallen to C$2.08. This represents a 35% drawdown through the Oct 14, Oct 28, and Nov 4 releases. The stock is up approximately 32% year-on-year but has reversed most of its autumn gains. Successive lower highs ($3.20 → $3.19 → $2.68 → $2.65 → $2.40) and lower lows indicate a de-rating pattern.

In October 2026, the company issued 8,183,239 shares at C$2.90 (C$3.10 flow-through) for C$23.8 million gross, representing roughly 10.7% dilution. Every buyer from that tranche is currently underwater, with hold periods running to February 10 and February 23, 2027.

At a market capitalization of approximately C$177 million, the company is valued against a PEA base-case after-tax NPV(5%) of C$215.8 million at US$2,600/oz. Higher price decks show NPVs of C$442.0 million at US$3,400/oz and C$668.3 million at US$4,200/oz. With roughly C$40–55 million of pro-forma cash (C$34.1 million at May 31, 2026, plus the October raise, less Q4 spend), the enterprise is valued at approximately 0.5–0.6x the base-case NPV and a fraction of the higher-price-deck NPVs.

The release de-risks the conversion path into the H1 2027 Feasibility Study and confirms mine-plan grade at two Lemoffe positions, with modest, real extensions at Blueberry 5 and Fifi 2. The size of the system has not changed. The equity has already de-rated by a third, and the results serve as a constructive, incremental confirmation.

Scottie Resources Corp. (SCOT) controls approximately 58,500 hectares in the Stewart Mining Camp within British Columbia’s Golden Triangle. The company’s portfolio includes the 100%-owned Scottie Gold Mine Property, which encompasses the high-grade, past-producing Scottie Gold Mine across the L, M, N, O, P, and Wolf zones, as well as the adjacent Blueberry Contact Zone. This contact zone represents a mineralised corridor extending more than 1.55 km north–south and has been tested to depths exceeding 525 metres.

The company also holds the 100%-owned Georgia Project, which hosts the past-producing Georgia River Mine. Additional early-stage assets include the Cambria, Sulu, and Tide North properties, all held at 100%. The Cambria property is located approximately 15 km east of the mine and was drilled for the first time in 2026. Other exploration targets include Domino, located approximately 2 km west, along with the Bend, C and D Zones, Serac, Lakebed, Mayor, and Castle prospects.

An inferred resource estimate dated May 7, 2025, reported 3.6 million tonnes at 6.1 g/t gold for 703,000 ounces. This estimate predates approximately 27,000 metres of drilling conducted in 2025 and more than 60,000 metres of drilling in 2026.

A preliminary economic assessment (PEA), effective October 28, 2025, and prepared by Bird et al. under NI 43-101 standards, outlines a project utilizing dense media separation (DSO) and ore-sorting. The plan requires initial capital of C$128.6 million and projects an average production of approximately 65,400 ounces of gold per year over seven years. At a gold price of US$2,600/oz, the project yields an after-tax net present value (NPV) of C$215.8 million with a payback period of 1.7 years. At US$4,200/oz, the NPV rises to C$668.3 million. The PEA notes that optional toll-milling at the nearby Premier mill could increase the NPV(5%) to between C$380.1 million and C$831.7 million, though no agreement is currently in place.

Scottie Resources has established partnerships with Ocean Partners, which holds an offtake agreement and approximately 13.5% equity, and provides a US$25 million construction and overrun facility. Franco-Nevada holds a 2% gross production royalty plus equity. Permitting is proceeding via a Joint Major Mine Permit Application, with the project determined to sit below federal and provincial environmental-assessment thresholds. A Capacity Funding Agreement with the Nisga'a Lisims Government is in place ahead of an Impact Benefit Agreement (IBA). The company targets production for 2028.

Financial data for the nine months ended May 31, 2026, shows cash of C$34.1 million and working capital of C$28.5 million. Total liabilities stood at C$11.5 million against equity of C$30.0 million, representing a book value of C$0.39 per share. The company reported no revenue and a net loss of C$4.58 million. Operating cash flow was negative C$7.74 million, while exploration spending totalled C$11.87 million. Financing inflows amounted to C$29.2 million. The period included C$9.54 million in net proceeds from the sale of a bulk sample consisting of 4,425 dry tonnes grading 14.3 g/t gold and 37.9 g/t silver. The company reported no going-concern flag.