Auriginal, Iamgold begin diamond drilling at Anik

Executive Summary

• Auriginal Mining Corp. and Iamgold Corp. have commenced a diamond drilling program at the Anik joint venture property, located immediately adjacent to Iamgold's prolific Nelligan gold project in Quebec.
• The 2026 drill program consists of eight holes totaling 1,600 meters targeting the north-central portion of the property, with completion expected in February 2026.
• Iamgold has fully exercised its earn-in option, acquiring a 75% undivided interest in the Anik project after meeting all cash and exploration expenditure requirements under the original 2020 agreement.

Key Details

• JV Ownership Structure: Iamgold now holds a 75% undivided interest in the Anik project, with Auriginal retaining the remaining 25%.
• Drill Program Specifications: Eight holes totaling 1,600 meters planned; drilling is currently on the third hole and is expected to be completed in February 2026.
• Historical Drill Results (Opawica West Target): Best intersections include 2.82 g/t Au over 6.3 m (including 9.76 g/t Au over 1.5 m) from hole ANK-22-29, and 1.46 g/t Au over 6.6 m (including 4.84 g/t Au over 0.6 m) from hole ANK-24-39.
• Geological Targeting: Drilling will test important geophysical, geological, and structural targets along the eastern continuation of the Nelligan deformation zone (NDZ), which hosts the Nelligan gold deposit and parallel gold structures.
• JV Option Exercise Terms: Under the May 26, 2020 agreement, Iamgold's first option to acquire 75% required $600,000 in staged cash payments and $4 million in exploration expenditures over five years. All terms were satisfied by May 26, 2025.
• Property Details: The Anik project comprises 96 designated cells covering 5,374.56 hectares (53.75 sq km), accessible via Highway 113 N and forestry gravel roads.
• Operator: Iamgold is acting as the operator for the current drill program.

Notable Quotes

• Peter Cashin, CEO of Auriginal: "We are excited to have Iamgold as a JV partner to advance the Anik gold project... The property, being adjacent and to the east of the Nelligan gold project and one of Quebec's premier gold project developments, provides us with an opportunity to supplement the significant resource potential of the area."