Klondike Gold Drills 600 Meter Step Out from Lone Star Deposit and Intersects Broad Interval of Gold Mineralization Extending Lone Star Target Zone to the Southwest

The February 4, 2026, news release reports two primary developments: exploratory drilling results and a management change. Klondike Gold successfully intersected gold mineralization in a 600-meter step-out from the Lone Star Deposit. Hole LS22-492 returned a broad interval of 99.6 meters grading 0.21 g/t Au, while hole EC25-578 returned 4.5 meters of 1.56 g/t Au. These results extend the Lone Star target zone significantly to the southeast. Additionally, the company announced the appointment of Brenda Nowak as CFO, replacing Jasvir Kaloti, and outlined a 2026 exploration plan involving 8,000 to 10,000 meters of diamond drilling starting in April.

• Exploration Results: While the 600-meter step-out is geographically significant and validates the company’s structural geological model, the grades reported in the broad interval (0.21 g/t Au over 99.6m) are extremely low. For an orogenic gold system in the Yukon, these grades may struggle to meet economic thresholds unless they represent the halo of a much higher-grade core yet to be found.
• CFO Transition: The resignation of a CFO who served for six years, coinciding with exploration news, is a routine corporate event but suggests a transition phase as the company moves toward an updated Mineral Resource Estimate (MRE).
• Projections: Management is successfully following through on its "multiphase" strategy initiated in early 2025. The transition from Phase 1 (structural testing) to Phase 3 (extension) has materialized as predicted, though the grades in this specific step-out are underwhelming compared to the January 2026 results (28.67 g/t over 0.5m).
• Operational Funding: The confirmation of a 10,000-meter drill program for 2026 implies a significant capital requirement, likely exceeding current cash reserves based on the last reported financials.

Klondike Gold Corp. is focused on the exploration and development of its 100%-owned Klondike District Gold Project, covering 727 square kilometers in the Dawson Mining District, Yukon. The flagship project includes the Lone Star and Stander deposits. The company aims to prove that the historic Klondike placer gold (20 million ounces produced) originated from bedrock sources within their claims. The current MRE stands at approximately 581,000 ounces of gold (Inferred), calculated at a $1,700 gold price.