Galloper evaluating historical prospects on Glover Island

Executive Summary

• Galloper Gold Corp. has initiated a historic gold prospect evaluation on Glover Island, targeting the Lunch Pond South Extension (LPSE) trend.
• The program involves a helicopter reconnaissance visit to assess historical surficial exploration works, observe gold mineralization continuity, and evaluate newly acquired claims and historical drill core.
• The company also entered into a marketing agreement with SarLor Corp. for consulting services, involving cash and stock option compensation.

Key Details

• Exploration Activity: Initiated evaluation of historical gold-mineralized prospects along the 15-kilometre gold trend of the Lunch Pond South Extension (LPSE).
• LPSE Context: The historic LPSE deposit contains 178,800 ounces of gold.
• Field Work: Conducted a helicopter visit with geologists to Glover Island to:
  • Assess and interpret significant surficial historical exploration works.
  • Observe gold mineralization continuity.
  • Identify favourable deformation zones within the rock belt.
• Land Package: Assessment of recently acquired claims from a former adjacent mineral licence (referenced in a news release dated Sept. 30, 2025).
• Core Evaluation: Evaluation of historical gold mineralized drill core held by the Government of Newfoundland and Labrador.
• Management Commentary: Vice-President of Exploration Bryan Sparrow noted that new insights into deformation zones add to the targeting capacity and potential for increasing the gold resource on Glover Island.
• Marketing Agreement:
  • Counterparty: SarLor Corp. (arm's length consultant).
  • Term: Six months.
  • Remuneration: $3,000 plus applicable taxes.
  • Equity Component: 300,000 incentive stock options.
  • Option Terms: Exercisable at $0.08 per common share for a period of one year; vests quarterly until expiry.
  • Consultant Status: Does not own any securities of the company.
• Company Profile: Galloper Gold Corp. focuses on mineral exploration for gold and base metals on Glover Island, holding 477 claims in 15 mineral licences totaling 12,200 hectares.

Notable Quotes

• "We've undertaken a targeted program to evaluate the mineralization potentiality of the approximately 15-kilometre gold trend. The historic mineralized prospects are situated in the same belt of rocks along trend of the historic 178,800,ounce Au LPSE deposit. New insights into the area show us the rocks host favourable deformation zones that add to the already extensive targeting capacity we hold within the land package on Glover Island. This continues to add growing and exciting capacity to increase the potential of the gold resource on Glover Island ultimately adding to shareholder value." — Bryan Sparrow, Vice-President of Exploration