Roxmore Resources Reports Strong Drill Results at the Converse Gold Project, Battle Mountain - Eureka Trend Nevada

Roxmore Resources Inc. (RM) has released initial assay results from the first phase of its 30,000-meter infill and extension drilling program at the Converse Gold Project in Nevada. The company highlighted five reverse circulation and core holes designed to convert Inferred resources to Indicated status.

Key reported intercepts include:

• CV26‑010C: 42.7 m @ 0.34 g/t Au, 2.15 g/t Ag; and 247.2 m @ 0.51 g/t Au, 3.79 g/t Ag (including 34.3 m @ 1.25 g/t Au).
• CV26‑012: 30.5 m @ 0.67 g/t Au; 67.1 m @ 0.56 g/t Au (including 30.5 m @ 0.88 g/t).
• CV26‑014: 59.4 m @ 0.82 g/t Au (including 25.9 m @ 1.10 g/t).
• CV26‑015: 68.6 m @ 0.87 g/t Au (including 21.3 m @ 1.74 g/t); also 70.1 m @ 0.42 g/t Au.
• CV26‑016: 45.7 m @ 0.41 g/t Au; 54.9 m @ 0.84 g/t Au.

Management stated that the results strongly support the updated geological model and demonstrate potential to upgrade mineral resources from Inferred to Indicated. The program continues with multiple rigs currently active.

Roxmore Resources Inc. (RM) is currently conducting a drilling program aimed at converting Inferred resources to Indicated and refining mine planning, rather than discovering a new deposit. The company is targeting a Preliminary Economic Assessment (PEA) for April 2026 and a Mineral Resource Estimate (MRE) of 5.2 million ounces. Today’s results align with modeled grades and confirm the existing geological interpretation.

The market had already priced in the PEA’s robust economics and the presence of a large, low-grade resource. Following the PEA, the share price rallied to $5.38 before correcting to $2.89, a movement attributed to broader gold equity weakness or profit-taking rather than a response to missing drill data.

The current drill results do not contain any intercepts that would independently move the stock by more than 15%. Institutional investors are expected to view these findings as routine confirmation of the existing resource model.

Roxmore Resources Inc. (RM) is a Canadian gold developer formed through the Axcap/Taura business combination in late 2025. Its flagship asset is the 100%-owned Converse Gold Project in Nevada, a large sedimentary/skarn-hosted deposit. A 2026 Mineral Resource Estimate (MRE) for the project identified 5.2 million ounces of gold, comprising 2.16 million ounces in the Indicated category at 0.65 g/t and 3.04 million ounces in the Inferred category at 0.43 g/t.

A Pre-Feasibility Study (PEA) completed in April 2026 outlined an after-tax Net Present Value (NPV) of US$2.75 billion at a 5% discount rate, with an Internal Rate of Return (IRR) of 42.3%. The study projected a 14-year mine life producing 246,000 ounces per year at an All-In Sustaining Cost (AISC) of US$1,769 per ounce, based on a gold price of US$3,600 per ounce. The project is designed as a conventional open-pit heap-leach operation with substantial capital requirements of approximately US$829 million pre-production.

The company also holds the Newton Gold Project in British Columbia and the Rattlesnake Hills project in Wyoming via acquisition, though Converse remains the dominant valuation driver. Management is led by former Roxgold and Fronteer executives John Dorward, Oliver Lennox-King, and Paul Criddle, a team with a track record of building and selling gold companies.