ONGold Returns 14.59 g/t Au over 9.6 m (core length) From Re-logging Program at Monument Bay Gold-Tungsten Project and Awards Contract to Prepare Updated NI 43-101 Mineral Resource Estimate

The most recent news (Jan 26, 2026) announces that ONGold has awarded a contract to SRK Consulting to prepare an updated NI 43-101 mineral resource estimate for the Monument Bay gold-tungsten project, targeted for 2026. The release also provides selected high-grade assay results from a 2025 re-logging and infill sampling program, including 14.59 g/t Au over 9.6 m. The CEO emphasizes the project's potential in the current gold price environment and the strategic importance of tungsten.

This news is routine and positive, but not a game-changer. It represents steady, planned progress. - Positive Aspects: Moving forward with a reputable consultant (SRK) for a resource update is a logical next step for an advanced project. The included drill results (14.59 g/t Au over 9.6m) are high-grade and positive for geological confidence, though they are from re-logging historical core, not new discovery drilling. - Context vs. Expectations: This follows the company's stated plans from 2025 to update the resource. The news confirms the project is advancing on schedule. - Lack of Surprise: The market had already reacted positively to the initial high-grade TPK results and the financing in late 2025. This news is a follow-on administrative and technical step. - Financial Context: The company's cash position as of Sep 30, 2025, was weak ($1.67M with total equity of only $80k). While a $9.3M financing closed in October 2025, the high burn rate means capital needs are a persistent overhang. This news does not address financing.

ONGold is a Canadian gold exploration company with a portfolio of projects in Ontario and Manitoba. - Flagship Project: Monument Bay Gold-Tungsten Project (Manitoba). An advanced-stage project with a historical resource (non-current) of 2.3M oz Au (Measured & Indicated) and 720k oz Au (Inferred), plus tungsten. The company is working to update this resource in 2026. The project has a 2-3% NSR royalty. - Other Key Projects: - TPK Project (Ontario): An early-stage exploration project where drilling in 2025 returned high-grade gold (19.39 g/t over 8.2m) and newly identified copper-silver-gold massive sulphide zones. Property expanded to 69,764 hectares in November 2025. - October Gold Project (Ontario): Under an option agreement with Evolution Mining, which can earn 75% by spending $7M. Early-stage exploration. - Domain Project (Ontario): Acquired with Monument Bay, early-stage.