Sorrento drills visible gold in first Rodgers Cove hole

Executive Summary

• Sorrento Resources announced visible gold intersected in the first drill hole (RC26-001) at its Rodgers Cove gold project in Newfoundland.
• The visible gold was observed at a downhole depth of 66.77 meters within quartz diorite, accompanied by abundant sulphide mineralization.
• The company also issued a correction to a previous private placement announcement regarding the specific amount of finders' fees paid and broker warrants issued.

Key Details

• Drill Hole RC26-001:
  • First hole completed on the Rodgers Cove property.
  • Visible gold intersected at a downhole depth of 66.77 meters.
  • Gold occurs as fine-grained to medium-grained particles hosted within quartz diorite.
  • Intersected abundant sulphide mineralization (approximately 1 to 10 per cent), including arsenopyrite, pyrite, boulangerite, chalcopyrite, and pyrrhotite.
• Drilling Status:
  • Drilling is progressing as planned.
  • Second drill hole expected to be completed by Thursday morning.
• Technical Disclaimer:
  • Visible gold observations are qualitative and not a definitive indicator of gold grade or continuity.
  • Analytical assay results are required to determine actual gold content.
• Private Placement Correction (Reference to March 2, 2026 Release):
  • Original announcement: Non-brokered private placement of 7.5 million units at $0.25 per unit for gross proceeds of $1,875,000.
  • Correction: Finders' fees paid totaled $45,000.
  • Warrants Issued: 180,000 non-transferable broker warrants.
  • Warrant Terms: Each exercisable to acquire one common share at an exercise price of $0.35 per share.
  • Expiration: March 2, 2028 (24-month period).
• Project Location:
  • Rodgers Cove, Newfoundland, near Gander.
  • 12 mineral licences totaling 6,500 hectares (260 claims).
  • Located in the Central Newfoundland gold belt (CNGB), Exploits subzone, along the Appleton and JBP faults.

Notable Quotes

• "Intersecting visible gold in the first drill hole at Rodgers Cove represents a significant milestone for Sorrento. These early observations reinforce our belief that Rodgers Cove has the potential to host a meaningful gold system. We are eager to build on this initial success as drilling continues and we work toward defining the extent of mineralization across the property." — Alex Bugden, President and CEO