Val-d'Or Mining Diamond Drill Program Update - Perestroika Prospect

Val-D'Or Mining Corporation (VZZ) has released the first batch of analytical results from the winter 2026 diamond drilling program at the Perestroika Prospect in Courville Township, Quebec. The project is operated by Eldorado Gold under option. A total of 25 holes comprising 12,477 meters were completed, though this update reports data from only four of them. More than 6,100 assay results remain pending, and approximately 2,800 samples have not yet been cut or dispatched.

The release highlights four key drill holes:

• PE-26-027: 84.0 m @ 3.08 g/t Au (75.00–159.00 m), including 16.00 m @ 10.70 g/t Au (with internal 0.70 m @ 149.65 g/t and 0.60 m @ 61.07 g/t). Also 15.30 m @ 0.89 g/t Au and a narrow 0.50 m @ 8.84 g/t Au deeper.
• PE-26-030: 21.30 m @ 3.07 g/t Au (255.70–277.00 m), including 8.74 m @ 5.00 g/t Au. Multiple narrow high-grade intervals elsewhere in the hole (e.g., 0.70 m @ 25.12 g/t, 0.50 m @ 26.24 g/t, 0.53 m @ 18.00 g/t, 2.00 m @ 6.44 g/t).
• PE-26-025: 78.20 m @ 0.82 g/t Au (41.10–119.30 m), with sparsely distributed narrow high-grade inclusions (e.g., 0.70 m @ 12.00 g/t). Additional lower-grade intervals deeper (16.00 m @ 1.44 g/t Au).
• PE-26-021: 36.30 m @ 0.51 g/t Au (97.20–133.50 m) plus 10.30 m @ 0.89 g/t Au at depth.

CEO commentary frames these holes as testing down-plunge stacked flat extensional veins, highlighting a lateral strike length of more than 500 meters along the southern portion of the known 1,000-meter mineralized footprint.

Val-d’Or Mining Corporation (VZZ) is a pre-resource, grassroots-style explorer that relies on its option agreements with Eldorado and Gold Candle for value. Perestroika is the most advanced and highest-spend joint venture, making a strong intercept central to the company’s thesis.

The stock’s rise from $0.05 to $0.24 between August 2025 and May 2026 was driven by visual gold, program expansion, and the earlier Baden discovery. The $0.19 close on the eve of these assays reflected high expectations, as the market had priced in “good” results. The gram-metres of PE-26-027 are excellent, but the absence of true width and QA/QC curtails the ability to declare a transformational event.

With Eldorado funding, dilution risk to VZZ is limited. VZZ’s 70% interest subject to earn-in means the equity is more exposed to eventual buyout or resource valuation than to short-term drill hits. However, a high-grade-core development scenario would increase Perestroika’s attractiveness to Eldorado and could accelerate option exercise.

They confirm that a large, mineralized system exists, but the missing width and assay integrity checks keep the deposit in the “encouraging” rather than “reserve-definable” category.

Val‑d’Or Mining Corporation (VZZ) is a Canadian junior explorer and prospect generator operating primarily in the Abitibi Greenstone Belt across Quebec and Ontario. Its business model involves acquiring prospective ground, conducting initial exploration, and then seeking joint‑venture partnerships or generating royalties.

The company holds partnerships with Eldorado Gold on its flagship Perestroika property, where Eldorado serves as operator with a 70/30 split favoring VZZ. Eldorado can earn up to 70% of the property by spending $10.5 million. Eldorado also holds an option on the Baden/Plumber/Island 27/Matachewan package, with the ability to earn 80% via $20 million in spending. Additionally, Gold Candle Ltd. is the optionee on the Recession Larder prospect, with VZZ retaining a 2% net smelter return (NSR) and a back‑in right.

Val‑d’Or’s portfolio includes 100%‑owned grassroots gold, nickel‑copper‑PGE, and VMS targets in Quebec and Ontario. The company also holds a royalty on the Ducros Ni‑Cu‑PGE project, structured as a 1.5% NSR. The management team has a track record of exits involving Canadian Royalties, Golden Valley, and Abitibi Royalties.

Financially, the company reported a Q1‑2026 net loss of $66k, with working capital of $673k and cash reserves of $557k. A going concern has been flagged, and the company relies on option payments and equity financing. The market capitalization is approximately $20 million, with high insider and strategic ownership, including approximately 14% held by the CEO and 12.5% by Gold Royalty.