Gemdale Gold starts drill program at Pontio project

Executive Summary

• Gemdale Gold Inc. has commenced an extensive infill diamond drilling program at its 100%-owned Pontio gold project in western Finland.
• The 2026 program aims to generate data for a maiden mineral resource estimate and an updated NI 43-101 technical report, focusing on the M2 trend.
• The company is fully funded following a recent TSX Venture Exchange listing and a $2.4-million strategic investment from Eldorado Gold Corp.

Key Details

• Drilling Program Scope: The 2026 campaign focuses on the M2 trend, a large-scale system with near-surface gold mineralization intersected over a strike length of approximately four kilometres.
• Program Objectives:
  • Resource Definition: Infill drilling at 50 m to 100 m spacings within the core of the M2 trend to confirm continuity of grade and thickness.
  • Depth Extensions: Testing down-dip potential of known high-grade shoots open below 150 metres vertical depth.
  • Trend Expansion: Following up on 2024 stepout drilling that extended the mineralized envelope to the south.
• Previous Drill Highlights (M2 Trend):
  • PONT053: 148.6 m at 0.71 g/t Au from 24.2 m, including 16.7 m at 2.07 g/t Au.
  • PONT057: 126.1 m at 0.80 g/t Au from 5.4 m, including 15.8 m at 3.08 g/t Au (highest-grade intercept to date).
  • PONT067: 20.34 m at 1.05 g/t Au (significant 800 m stepout to the south, extending strike to four kilometres).
  • PONT006: 76.82 m at 0.88 g/t Au from 6.6 m, including 32.20 m at 1.41 g/t Au.
  • PONT028: 53.85 m at 0.70 g/t Au from 21.53 m, including 11.44 m at 1.10 g/t Au.
• Geological Context: Mineralization is hosted within sheared diorite, associated with disseminated sulphides and quartz-arsenopyrite veining. The system remains open in all directions, with several parallel trends showing early-stage promise.
• Funding & Status: The company recently closed a $2.4-million strategic investment from Eldorado Gold Corp. and completed its listing on the TSX Venture Exchange.
• Technical Reports: Referenced reports include the "NI 43-101 Technical Report on the Pontio Project" dated Sept. 30, 2025, and the final prospectus dated Jan. 30, 2026.

Notable Quotes

• "With our recent public listing and the strategic investment from Eldorado Gold, we are now fully funded to accelerate the development of Pontio. This infill program is a critical step in our transition from discovery to resource definition. The M2 trend has already demonstrated remarkable scale and consistency near surface, and we are confident that this systematic drilling will further develop Pontio's potential to become a major gold deposit in Finland." — Dr. Toby Strauss, President and CEO