Japan Gold Completes CSAMT/AMT Geophysical Survey at Hakuryu Project to Refine Drill Targeting

The latest news release from December 15, 2025, states that Japan Gold Corp. has completed a 34 line-kilometre Controlled-Source Audio-frequency Magnetotellurics (CSAMT) and Audio-frequency Magnetotellurics (AMT) geophysical survey at its Hakuryu Project in Hokkaido, Japan. The data from this survey will be used to refine drill targeting for the next exploration campaign.

The release also provided an update on the 2025 drilling program at Hakuryu: - DDH-HAK-001: Re-assay results for a previously reported intercept showed 24.1 g/t Au over 0.60 metres (from 103.8m), an increase from the initial assay of 16.15 g/t Au over 0.60 metres. - DDH-HAK-002: Intersected anomalous gold mineralization of 1.52 g/t Au over 3.3 metres (from 164.2m). - Mineralization is associated with a hydrothermal brecciation zone on the hanging wall of a fault, with indicated continuity over a 145-metre strike within a larger 5-kilometre alteration corridor.

This news is a routine positive development for Japan Gold. The completion of a geophysical survey is a standard step in the exploration process, designed to improve the effectiveness of future drilling. It indicates systematic advancement of the Hakuryu project.

The re-assay result for DDH-HAK-001, showing an increase in gold grade from 16.15 g/t to 24.1 g/t over 0.60 metres, is a positive confirmation of high-grade mineralization at that specific narrow interval. This is an improvement on the earlier reported results from July 9, 2025, which initially indicated 16.2 g/t Au. The noted continuity over a 145-metre strike length for the mineralization is also encouraging. The anomalous gold in DDH-HAK-002 provides further support for the prospectivity of the area.

This news occurs in the context of the recent termination of the Barrick Alliance (effective October 31, 2025, announced September 29, 2025). With Barrick no longer funding exploration on these projects, Japan Gold has assumed full operational and financial responsibility. The company has bolstered its balance sheet through a US$5 million royalty sale to Osisko Gold Royalties (February 4, 2025) and a CAD 2.067 million private placement (August 25, 2025). These financings, coupled with the improved cash position (CAD 4.79 million as of Sept 30, 2025), enable the company to continue advancing its projects independently.

The Hakuryu results, while positive, are not a game-changing discovery at this stage. They are consistent with an early-stage exploration company finding encouraging indications of gold mineralization. The successful completion of the geophysical survey and the refined drill targeting lay the groundwork for potential future material impacts, but the current news itself does not fundamentally alter the company's risk profile or valuation significantly enough to be categorized as "Material - Positive." It's a positive step in a methodical exploration strategy.

Japan Gold Corp. is a gold exploration company based in Canada, strategically positioned as a "first mover" in Japan's underexplored epithermal gold districts. The company holds a vast portfolio of prospecting rights across the three main islands of Japan (Hokkaido, Honshu, and Kyushu), focusing on regions with historical high-grade gold production and proximity to existing major gold mines like Sumitomo Metal Mining's Hishikari mine. Its strategy involves utilizing strategic partnerships and non-dilutive financing to advance its drill-stage targets.

Post-termination of the Barrick Alliance, Japan Gold has assumed full control and funding responsibility for its projects. Key projects include: - Hakuryu Project (Hokkaido): Situated within the Konomai epithermal gold district (historically producing 2.35 million ounces). Initial drilling in 2025 yielded high-grade intercepts (e.g., 24.1 g/t Au over 0.6m in re-assays). Geophysical surveys are ongoing to define future drill targets along a 5 km structural corridor. - Mizobe Project (Kyushu): A 100%-owned project located in the Hokusatsu district, 23 km north of the high-grade Hishikari mine. Recent drill programs (2023) returned encouraging results (e.g., 10.0m @ 4.27 g/t Au). A next-phase diamond drill program (1,600m in 4 holes) commenced in September 2025 to test for deeper, higher-grade mineralization. - Ebino Project (Kyushu): Also located in the Hokusatsu district. Initial Barrick-funded drilling in 2025 encountered extensive hydrothermal clay alteration, indicative of an epithermal system, but no significant gold mineralization, suggesting potential for deeper vein targets. - Togi Project (Honshu): Covers the historic Togi Goldfield, which produced 48,000 oz gold and 180,000 oz silver. Initial drilling in 2024 confirmed a concealed low-sulfidation gold system with significant strike potential, though reported intercepts showed modest gold grades.