Greenheart Gold Confirms Gold Mineralization at Majorodam and Provides an Exploration and Project Update

The November 10, 2025, press release provides the first diamond drilling results from the Phase 2 program at the Majorodam project in Suriname. The results confirm a mineralized zone at Heuvel Main extending at least 800 meters and identify a second parallel zone at Heuvel East.

Key intercepts include: - Heuvel Main: - MAJD25-002: 12.3 meters at 0.82 g/t Au - MAJD25-005: 5.0 meters at 1.17 g/t Au - MAJD25-011: 11.5 meters at 1.34 g/t Au - Heuvel East: - MAJD25-006: 13.0 meters at 1.29 g/t Au

The company also announced the acquisition of the Gold Hill project in Guyana, the commencement of a 3,000-meter trenching program at Tosso Creek, and provided operational updates for its Tamakay and Abuya projects in Guyana. The diamond drill rig remains on-site at Majorodam for additional drilling.

The news is routine in that it is an expected exploration update, but its impact is assessed as negative because the results fall short of the high expectations set by previous announcements.

• Progression of Projections:

  • May 7, 2025: The company released initial reconnaissance RC drill results from Majorodam, highlighted by stellar intercepts of 30.0 m at 2.06 g/t Au and 13.0 m at 4.37 g/t Au.
  • September 2, 2025: An update featured a spectacular channel sample result of 18.0 m at 6.39 g/t Au, including a very high-grade core of 4.0 m at 24.07 g/t Au. This news, combined with the announcement of a follow-up diamond drill program, drove the stock price to a 52-week high of $1.70.
  • November 10, 2025 (Current News): The latest diamond drill results, with grades ranging from 0.82 g/t to 1.34 g/t Au, represent a significant decrease in grade and grade-thickness compared to the May and September results.

• Impact Analysis:

  • Positive: The drilling successfully confirms a large, 800-meter-long mineralized system and has identified a new parallel zone. This demonstrates the scale potential of the project.
  • Negative: The market's valuation and the recent share price run-up were predicated on the potential for high-grade, continuous mineralization suggested by the earlier, more selective results. These new results, while geologically significant in confirming a system, temper the high-grade expectations. For an early-stage exploration company, grade is king, and these results are simply not as impressive. The market is likely to view this as a disappointment, potentially leading to a re-rating of the project's blue-sky potential and a correction in the stock price.

The acquisition of a new project and updates on other properties are minor positives, showing the company is executing its portfolio strategy, but they are overshadowed by the underwhelming drill results from the flagship Majorodam project.

Greenheart Gold is a junior exploration company focused on making greenfield gold discoveries in Guyana and Suriname. The company was spun out of Reunion Gold following its merger with G Mining Ventures in July 2024. The management team has a strong track record, notably being credited with Reunion Gold's 6 Moz Oko West discovery in Guyana. The company's strategy is to maintain a portfolio of 5-6 projects, advance them quickly, and leverage its strong treasury and local expertise.

The clear flagship project is Majorodam in Suriname. Exploration here has defined two large, multi-kilometer gold-in-soil anomalies (Heuvel and Helling). Initial reconnaissance drilling and channel sampling returned high-grade gold intercepts, making it the primary value driver for the company. The latest news confirms mineralization over a significant strike length, solidifying its status as a large-scale gold system.