AuMEGA Metals Commences Comprehensive 2026 Field Season

Executive Summary

• AuMEGA Metals Ltd has commenced its 2026 field season at its district-scale gold and critical minerals portfolio in southwestern Newfoundland and Labrador, following a one-month delay due to winter conditions.
• The initial exploration focus is the underexplored Isle aux Morts Granite (IAMG), which exhibits coincident gold, copper, molybdenum, and bismuth geochemical signatures across a multi-kilometre footprint.
• Early-season activities will prioritize detailed geological mapping, channel sampling, and infill till geochemistry to refine drill targets ahead of diamond drilling expected in the coming weeks, with later summer work planned at the Bunker Hill area along the Branch Fault Corridor.

Key Details

• Field season commencement delayed by one month due to continued winter conditions; crews have now mobilized and field work is underway.
• 2026 program initially targets the Isle aux Morts Granite (IAMG), a new, large, underexplored intrusion with coincident gold, copper, molybdenum, and bismuth geochemical signatures across a multi-kilometre footprint.
• Early-season work includes detailed mapping, channel sampling, and infill till geochemistry to expedite drill targets.
• Diamond drilling is expected to commence in the coming weeks, weather permitting.
• Later summer field work planned at Bunker Hill along the Branch Fault Corridor, a major structural splay from the Cape Ray Shear Zone.
• Bunker Hill activities will focus on mapping and sampling to expand the Branch Fault anomaly footprint and refine targets ahead of late-summer drilling.
• Company controls a district-scale land position along the Cape Ray Shear Zone, directly along strike from Equinox Gold's Valentine Mine.
• Existing Mineral Resource: 6.2 million tonnes grading 2.25 g/t gold (450,000 oz Indicated) and 3.4 million tonnes grading 1.44 g/t gold (160,000 oz Inferred).
• Strategic shareholder support from B2Gold Corp.
• Program objective is to generate high-quality drill targets, test them effectively, and advance the company's exploration portfolio.

Notable Quotes

• Sam Pazuki, Managing Director and CEO: "After an extended winter in Newfoundland delayed the start of field activities, we are pleased to have our team back in the field and executing on what we believe is one of the most important exploration programs in the Company's recent history."
• Sam Pazuki: "AuMEGA controls a district-scale land position along the Cape Ray Shear Zone, directly along strike from Equinox Gold's Valentine Mine, and we believe our portfolio remains materially underexplored."
• Sam Pazuki: "Our primary objective is to discover the next major gold deposit in Newfoundland, and we plan to pursue that objective by generating high-quality drill targets, testing them effectively, and continuing to build the case for AuMEGA as one of the most compelling exploration stories in the industry."