Caprock Announces Commencement of Drill Program at Destiny

Executive Summary

• Caprock Mining received an Intervention Permit from Quebec and has launched a four‑hole drill program at the Destiny gold property to test deep‑seated high‑grade mineralization.
• Historical holes DES‑01‑60 and DES‑01‑59 intersected grades of 26.6 g/t Au and 17.5 g/t Au at ~550 m depth, indicating a potentially sizable underground mineable zone.
• The program is slated for completion by mid‑December 2025 with assay results expected in early February 2026; successful results could expand the current open‑pit constrained MRE published March 2025.

Key Details

• Permit: Received “Permis d’intervention” from Quebec Ministry of Natural Resources and Forests, authorizing the drill program.
• Target: Deep‑seated high‑grade zone beneath the existing open‑pit constrained Mineral Resource Estimate (MRE).
• Historical Intercepts:
• Hole DES‑01‑60 – 26.6 g/t Au.
• Hole DES‑01‑59 – 17.5 g/t Au.
• Both intersected at ~550 m below surface, 200–250 m below the floor of the conceptual open pit used for the MRE.
• Current Drill Program: Four holes designed to test continuity of the high‑grade zone; spacing >200 m laterally between historic intercepts.
• Timeline: Drilling to finish by mid‑December 2025; assay results anticipated early February 2026.
• MRE (March 24, 2025):
• Indicated – 6.752 M tonnes @ 0.91 g/t Au → 196,549 oz Au.
• Inferred – 28.56 M tonnes @ 0.87 g/t Au → 794,886 oz Au.
• Assumptions for MRE:
• Cut‑off grade 0.30 g/t Au (open pit).
• Gold price US$2,100/oz, recovery 94%, total ore cost CAD 22.50/t (processing CAD 18.00/t + G&A CAD 4.50/t), dilution 10%, pit slope 45°.
• Technical Team: Led by qualified person Vishal Gupta, P.Geo., President & CEO; resource model prepared by Todd McCracken, P.Geo., BBA E&C Inc. (NI 43‑101 compliant).

Notable Quotes

“A successful program will not only demonstrate the presence and continuity of high‑grade mineralization beyond the near‑surface, pit‑constrained MRE… but also validate the geological model … that will help refine our drill targets for future campaigns.” – Vishal Gupta, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.