P2 Gold Gabbs Project Update

Executive Summary

• P2 Gold reports the commencement of RC drilling at the Sullivan Zone (12 of 24 holes completed) and outlines a subsequent 47‑hole, 10,000 m program at the Lucky Strike Zone.
• Diamond drilling is being mobilized for geotechnical and metallurgical sampling to support a forthcoming feasibility study; 17 holes (3,500 m total) are planned.
• The company has awarded multiple engineering and environmental contracts to advance the Gabbs Project feasibility study, with all field work expected to be completed by Q2 2026.

Key Details

• RC Drilling – Sullivan Zone: 12 reverse‑circulation holes finished; program totals 24 holes and ~4,900 m of drilling. Initial results anticipated before year‑end.
• Planned RC Drilling – Lucky Strike Zone: 47 infill/expansion holes targeting ~10,000 m once Sullivan work is complete.
• Diamond Drilling – Geotechnical & Metallurgical: Mobilizing a diamond rig for 17 holes (~3,500 m). Early holes will supply metallurgical samples for column leach tests and data for pit slope stability analyses at both zones.
• Feasibility‑Level Contracts Awarded:
• Barr Engineering – pit slope stability study (Sullivan & Lucky Strike).
• Kautz Environmental Consultants – cultural inventory of the mine site.
• Aqua Hydrogeologic Consulting – hydrogeologic modeling for open pits and process water rights.
• Western Biological – expanded biological survey.
• Kappas Cassiday – optimized heap‑leach and mill processing metallurgical studies.
• Welsh Hagen – geotechnical studies for leach pad and process facility foundations.
• Timeline: All drilling, contract work, and associated field studies are slated for completion in Q2 2026; an updated Mineral Resource estimate will follow, feeding into a revised mine plan and economic analysis.
• Qualified Person: Ken McNaughton, Chief Exploration Officer, has reviewed and approved the technical information per NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)