Wolfden Provides Positive Drill Program Update in Nevada

The most recent news release from October 27, 2025, provides an update on Wolfden's drill program at its Rockland Gold Project in Nevada. The company has completed three deep core holes, totaling 1,600 meters. These holes include REP18, which intersected 242 meters of intensely altered flow-banded rhyolite, and REP22, which intersected 210 meters of similar alteration and sulphides. The company reports positive visual indicators from these holes. Assay results for these drill holes are currently pending and expected in the coming weeks. CEO Ron Little expressed satisfaction with the extent of altered and mineralized rhyolite encountered and noted an improved understanding of the geometry and potential orogenic model of the extensive mineralized system, which will guide future drilling to test for higher gold grades at depth. The news indicates that the mineralized rhyolite appears to be a steeply dipping volcanic conduit expanding into a mushroom shape near the surface, with two phases of alteration (adularite followed by illite overprint).

This news is a routine positive update. It confirms continued progress on the Rockland drill program, with three holes now completed and positive visual indications. The described alteration and sulphide content are encouraging, suggesting the presence of a hydrothermal system conducive to gold mineralization. The improved geological understanding is also a positive development as it can optimize future exploration efforts.

However, the critical element, assay results (i.e., actual gold grades), remains pending. Without these definitive results, the true economic significance of these visual observations cannot be determined. This news aligns with the expectations set by previous announcements, which indicated that drilling was underway and that visual results would precede assays. It does not materially change the investment thesis or introduce unexpected breakthroughs, but rather confirms the systematic advancement of the exploration program. The addition of two more completed holes with similar encouraging visuals, following the first hole, is incrementally positive, but the market awaits the quantitative data.

Wolfden Resources Corporation is a Canadian mineral exploration company primarily focused on its Rockland Gold Project in the Walker Lane Trend of Nevada, USA. The company is actively exploring for bonanza-type, rhyolite-hosted epithermal gold-silver mineralization. Its strategy for Rockland involves leveraging historical drill results and advanced geophysical surveys (IP and CSAMT) to target deeper, potentially higher-grade zones.

Historically, Wolfden also held the Pickett Mountain polymetallic (Zn-Pb-Cu-Ag-Au) project in Maine, USA. The company previously sold forward timber rights on a portion of this land to secure non-dilutive financing and retained exclusive mineral rights on its core land package.

The Rockland Gold Project is currently the flagship project. It is characterized by: - Location: Walker Lane Trend, Nevada, a prolific gold-silver district. - Geology: Low-sulphidation, quartz-adularia epithermal gold-silver system, similar to nearby deposits like Hecla Mining's Aurora and Bodie. - Historical Results: Significant intercepts include 146.4 meters at 1.0 g/t AuEq (PG-32, ended in mineralization) and 85.4 meters at 1.0 g/t AuEq (PG-36C). - Exploration Model: Geophysical surveys (deep-penetrating IP) indicate stronger chargeability anomalies below surface mineralization, interpreted as disseminated pyrite correlating with gold. The target is a potential "boiling zone" for higher grades at depth, within a 1.7 km northeast-trending structural corridor. - Earn-in Agreement: Wolfden has an option agreement with Evergold Corp. (the underlying claim owner) to earn up to a 75% interest in the property. Initially, Wolfden can earn 51% by March 2028 by spending US$1.175 million on exploration (including a minimum of 1,500m of drilling in 2025) and making US$600,000 in cash payments over three years. Wolfden can then increase its interest to 75% by funding a pre-feasibility study. The underlying owner retains a 3% NSR (2% repurchasable by Wolfden for US$3M). - Metallurgy: Preliminary 24-hour bottle roll cyanide leach tests on four historical samples showed gold recoveries ranging from 85% to 98%, suggesting good conventional recovery potential.