Ongold Resources stakes 21,969 hectares at TPK

Executive Summary

• Ongold Resources Ltd. has substantially expanded its Ti-pa-haa-kaa-ning (TPK) project in Northwestern Ontario by staking 73 new claims, increasing the total property size by 46% to approximately 69,764 hectares.
• The company reported significant high-grade gold results from a recently completed diamond drilling program at the Gold Ridge area, identifying a pervasive gold-bearing system over a 400m width and 1,400m length, with core intercepts including 19.39 g/t Au over 8.2m.
• Ongold entered into a Memorandum of Understanding (MOU) with the Chapleau Cree First Nation to support exploration at its October gold property, involving the issuance of 50,000 common shares and 50,000 warrants subject to TSX Venture Exchange approval.

Key Details

• Property Expansion:
  • Acquired 73 multicell and single-cell claims via staking.
  • New claims cover approximately 21,969 hectares (1,118 cells).
  • TPK property now consists of 2,504 claims covering approximately 69,764 hectares.
  • Additional claims target extensions of the Mameigwess and Bartman Lake greenstone belts and the Stull-Wunnumin fault zone.
  • Area is considered prospective for gold and base metals based on Ontario Geological Survey mapping.
• Gold Ridge Drilling Results (TPK Project):
  • Identified a pervasive gold-bearing system extending ~400 metres wide and 1,400 metres long, from the Discovery zone to the shore of Mameigwess Lake.
  • Discovery Zone Highlights:
    • 19.39 g/t Au over 8.2 m (from 11.8 m to 20.0 m).
    • Included high-grade intervals: 308 g/t Au over 0.3 m; 24.80 g/t Au over 0.7 m; 12.20 g/t Au over 1.5 m; and 20.10 g/t Au over 1.5 m.
  • Anomalous gold (>0.1 g/t Au) identified in every drill hole assayed to date.
  • Interpretation suggests a large, intrusive-hosted, orogenic gold system.
  • No mineral resource defined; assay results for remaining holes and base metal values are pending.
• Big Dam Area (TPK Project):
  • Historical drilling by Northern Superior Resources Inc. intersected high-grade gold, including:
    • 25.9 g/t Au over 13.5 m (including 46.0 g/t Au over 0.5 m, 139.4 g/t Au over 1.7 m, 749.0 g/t Au over 0.3 m, and 127.0 g/t Au over 0.7 m).
• Chapleau Cree First Nation (CCFN) Agreement:
  • MOU signed (originally Nov 25, 2024, amended Sept 29, 2025) regarding support for exploration at the October gold property.
  • Consideration: Issuance of 50,000 common shares and warrants to purchase 50,000 common shares.
  • Structure: Issuance in four tranches over one year.
  • Warrant Terms: Exercisable in four tranches over one year from issue date; exercise price to be determined based on TSX-V approval, specifically targeting the closing price as of Nov 21, 2025.
  • Status: MOU is not a definitive agreement; no assurance an Impact Benefit Agreement (IBA) will be executed.
  • Requires TSX Venture Exchange approval.

Notable Quotes

• "With the very successful diamond drilling program recently completed at TPK's Gold Ridge yielding high-grade gold results as well as the identification of a pervasive gold-bearing system, we are very pleased to substantially expand the overall TPK claims footprint. The additional claims increase the TPK claim area by 46 per cent and represents a key milestone in the project evolution as additional geological prospects at TPK are evaluated in preparation for 2026 exploration activities." — Kyle Stanfield, CEO and Director