Mercator Gold Exploration Priorities & Strategy

Executive Summary of Recent Activity

• Canadian GoldCamps Corp. announced its 2026 exploration strategy on May 26, 2026, designating the Mercator gold project as the primary focus within the Caniapiscau district of Quebec.
• The company is finalizing an independent NI 43-101 Technical Report covering both the Mercator and Courcy projects, with filing anticipated on SEDAR+ in the near-term following independent review.
• The 2026 program focuses on validating historical datasets, re-analyzing samples using modern multi-element analytical methods, and prioritizing targets for a future diamond drilling campaign at the Mercator project.

Historical Progression of Key Projects

• December 2025: Management change with George Yordanov appointed CEO; terminated previous uranium deal (Murphy Lake) to focus on gold; signed LOI with Stelmine Canada Ltd. for Mercator and Courcy projects.
• January 2026: Closed first tranche of private placement ($1M total raised); issued equity consideration (~9.99%) to Stelmine as part of the option agreement.
• March-April 2026: Announced additional non-brokered private placement up to $2M; completed definitive mineral property option agreement with Stelmine granting right to earn up to 80% interest in projects.
• April 14, 2026: Provided corporate and technical work program updates, confirming receipt of draft NI 43-101 report under internal review.
• May 26, 2026 (Current): Confirms NI 43-101 is in finalization stage; outlines specific exploration priorities for validation and drilling target selection.

Key Details on Project Scale and Intercepts

• Mercator project scale: Approximately 561 square kilometres within the extension of the Opinaca sedimentary basin.
• Historical high-grade intercepts (Meridian Zone): 17.8 metres grading 2.62 g/t gold, including 5.6 metres grading 4.87 g/t gold.
• Royalty obligations defined: 2.0% NSR on Mercator (with 1.0% purchasable for $1M) and 1.0% NSR on Courcy (with 0.5% purchasable for $500k).

Evaluation of Most Recent News

• The May 26, 2026 release confirms the progression from "draft review" (April 14) to "finalizing" an NI 43-101 Technical Report. This is a standard procedural milestone for junior explorers and does not introduce new data or discoveries.
• The announcement validates the strategic shift announced in December 2025 but lacks immediate catalysts such as drilling results, resource estimates, or financing closures that would materially alter valuation.
• Given the stock price has declined from $0.27 (January) to $0.15 (May) despite this pipeline of positive news, the market appears to view these updates as routine execution rather than value-accretive surprises.

Comparison with Previous Expectations

• The NI 43-101 status aligns with expectations set in April regarding the draft report review; no delays or accelerations were noted that would surprise investors.
• The financing extension (April 21) suggests liquidity management is ongoing, but the May news does not confirm a close of the $2M offering, leaving capital needs unaddressed in this specific release.
• Management quotes emphasize "meaningful discovery potential" and "systematic follow-up drilling," which are forward-looking statements consistent with previous CEO messaging since December 2025.

Corporate Structure

• Canadian GoldCamps Corp. (CSE: CAMP) is a junior exploration company focused on gold projects in Quebec.
• Management led by President & CEO George Yordanov, P.Geo., appointed December 2025.
• Board includes Robert Kitchen (Chair), Mike Taylor, Maciej Lis, Jason Hawkins.

Flagship Project: Mercator Gold Project

• Location: Caniapiscau district, northeastern Quebec, within the Superior Province.
• Scale: Approximately 561 square kilometres within the extension of the Opinaca sedimentary basin.
• Geology: Characteristics comparable to other major sediment-hosted gold environments in Quebec; structural corridor with multiple untested anomalies.
• Historical Data: Meridian Zone shows high-grade intercepts (e.g., 4.87 g/t gold over 5.6 metres).

Secondary Project: Courcy

• Location: Same district as Mercator.
• Status: Under option agreement with Stelmine Canada Ltd.; subject to royalty obligations and earn-in milestones.