Esgold begins phase 2 survey at Montauban

Executive Summary

• Esgold Corp. has commenced a second-phase ambient noise tomography (ANT) survey covering 70 square kilometres at its Montauban gold-silver project in Quebec, marking the most extensive geological investigation in the property's 110-year history.
• The expanded survey is a sevenfold increase from the initial 10-square-kilometre survey completed in 2025, which identified a deep, expanding mineralized corridor extending to approximately 900 metres in depth with at least two kilometres of strike length.
• Results from this survey will refine high-priority stepout drill targets for a planned drilling program in spring 2026, aiming to evaluate the district-scale volcanogenic massive sulphide potential and confirm if the mineralized system continues beyond the initial survey boundaries.

Key Details

• Survey Scope: The new ANT survey covers 70 square kilometres, expanding coverage approximately seven times beyond the original 10-square-kilometre footprint.
• Initial Findings (2025): The initial survey identified mineralized architecture extending to approximately 900 metres in depth, significantly deeper than historical drilling (which was largely confined to shallow levels, with deepest holes reaching ~250 metres).
• Structural Characteristics: The 3-D model outlined at least two kilometres of strike length, with the mineralized corridor widening at depth and remaining open at the limits of the original survey coverage.
• Technology: The program utilizes Caur Technologies' ultrasensitive Geodes, which are 10 times more effective than traditional geophones, combined with AI-driven modelling that integrates historical drill data and satellite-assisted geophysics.
• Depth Penetration: The new survey will scan from 50 metres to 900 metres deep, with potential for further extension.
• Strategic Objective: The survey aims to confirm whether the interpreted structural corridor continues along strike and to assess the potential for additional mineralized lenses within the broader framework.
• Future Drilling: Data will be used to refine high-priority stepout drill targets for a focused drill program planned for spring 2026.
• Production Context: The exploration is advancing in parallel with the Montauban project's construction, with the processing facility fully permitted and construction-ready, targeting near-term production in 2026.
• Qualified Person: Andre Gauthier, PGeo, a director of Esgold, has reviewed and approved the scientific and technical information. The interpretations are conceptual and do not constitute a mineral resource or reserve.

Notable Quotes

• "This next phase marks an important step in defining the full scale of Montauban... Our initial ANT survey and integrated 3-D model revealed a deep and expanding mineralized corridor extending to approximately 900 metres and over at least two kilometres of strike. Critically, the system widened at depth and remained open where the survey ended." — Gordon Robb, CEO
• "The initial 3-D model demonstrated that Montauban extends significantly deeper and farther than historical exploration suggested. The identification of a 900-metre-deep system, widening at depth and open along strike, represents a material shift in the geological understanding of the Montauban project." — Esgold Corp.