Val-d'Or Mining optionee drills 18 holes at Perestroika

Executive Summary

• Val-d'Or Mining Corp. provided an operational update on the 2026 diamond drilling program at the Perestroika prospect, operated by Eldorado Gold.
• As of March 30, 2026, Eldorado has completed 18 drill holes totaling 10,287 metres, exceeding the initial budgeted plan of 20 holes for 8,000 metres, with two additional holes currently in progress.
• The release outlines the ongoing option agreement terms under which Eldorado may earn a 70% interest in the Perestroika and related properties, including expenditure requirements and annual payments.

Key Details

• Drilling Progress:
  • Total planned budget: $1.37 million (U.S.).
  • Planned scope: 20 drill holes totaling approximately 8,000 metres using two rigs.
  • Status as of March 30, 2026: 18 holes completed for a total of 10,287 metres drilled.
  • Current activity: Two additional drill holes are in progress.
  • Next steps: Core logging and sampling are continuing; analytical results will be reported as received. A full summary will be provided upon completion of the program.
• Option Agreement Terms (Eldorado Gold):
  • Target Interest: Eldorado may earn a 70% interest in the Murdoch Creek, Claw Lake, Cook Lake, and Perestroika properties.
  • Current Ownership: Val-d'or Mining holds 70%; Eldorado holds 30%.
  • Expenditure Requirement: Eldorado must incur minimum expenditures of $10.5 million on or before the fifth anniversary of the satisfaction of conditions precedent under the option agreement.
  • Annual Payment: Eldorado must make an annual payment of $50,000 to Val-d'Or Mining prior to exercising the option.
  • Joint Venture: Upon exercise of the option, Eldorado and Val-d'Or will enter into a joint venture agreement on terms set out in the option agreement.
• Historical Context:
  • The option agreement originated from an assignment dated Jan. 25, 2023, where Golden Valley Mines & Royalties Inc. assigned its rights to Val-d'Or Mining.
  • The original option agreement was dated Oct. 8, 2021, between Golden Valley and Eldorado.
• Qualified Person: Glenn J. Mullan, PGeo, President and CEO of Val-d'Or Mining, has reviewed and approved the technical information.

Notable Quotes

• "Glenn J. Mullan, PGeo, president and chief executive officer of Val-d'Or Mining, is the qualified person (as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects) who has reviewed this news release and is responsible for the technical information reported herein."