P2 Gold Intersects 0.78 g/t Gold and 0.29% Copper Over 79.25 Meters, Including 1.28 g/t Gold and 0.34% Copper over 21.34 meters at the Heart of the Lucky Strike Zone

P2 Gold Inc. (PGLD) has released assay results from ten reverse circulation holes (GBR-112 to GBR-121) and four diamond holes (GBD-040 to GBD-043) drilled at the Lucky Strike Zone of its Gabbs Project in Nevada.

The company reported the following drill intercepts:

• GBR-118 intersected 79.25m @ 0.78 g/t Au and 0.29% Cu from 89.92m, including 21.34m @ 1.28 g/t Au and 0.34% Cu from 92.96m; also a footwall intercept of 32.00m @ 0.13 g/t Au and 0.13% Cu from 187.45m.
• GBR-119 intersected 158.50m @ 0.37 g/t Au and 0.16% Cu from 83.82m, including 67.06m @ 0.49 g/t Au and 0.18% Cu from 96.01m.
• GBR-120 returned 121.92m @ 0.47 g/t Au and 0.21% Cu from 71.63m, including 41.15m @ 0.82 g/t Au and 0.29% Cu from 76.20m.
• GBR-121 returned 67.06m @ 0.78 g/t Au and 0.20% Cu from 73.15m, including 42.67m @ 1.07 g/t Au and 0.28% Cu from 73.15m; plus footwall 24.38m @ 0.12 g/t Au and 0.17% Cu.
• Diamond hole GBD-040 intercepted 3.05m @ 3.70 g/t Au and 0.33% Cu from 138.68m; GBD-041 had no significant values; GBD-042 returned 18.29m @ 0.37 g/t Au and 0.18% Cu from 166.12m; GBD-043 was lost.

P2 Gold stated that the mineralization controls are consistent with the Sullivan Zone, featuring higher-grade gold-copper localized within and below a tabular quartz monzonite unit. The company plans to update its Mineral Resource estimate and feasibility study in the fourth quarter of 2026.

P2 Gold Inc. (PGLD) confirmed and extended defined mineralization at its Lucky Strike project, though the results do not materially alter the resource scale or economic thesis. The reported grades and thicknesses are consistent with prior drilling, reflecting the overall low-grade nature of the deposit.

As an advanced-stage project with a completed Preliminary Economic Assessment (PEA) and an ongoing feasibility study, the company’s value is driven by its ability to define economically mineable tonnes. These infill holes serve to convert inferred resources to indicated resources and support mine planning, representing incremental progress.

The stock price had already rallied from approximately $0.67 in early June to near $1.09 prior to this release, suggesting the market had partly priced in positive results from the ongoing drill program.

Financially, the company faces going concern uncertainty with no revenue and $16.4 million in cash as of Q2 2026, funds needed to complete the feasibility study and permitting. This drill result does not change that risk profile.

P2 Gold Inc. (PGLD) is a junior explorer and developer advancing its 100%-owned Gabbs gold-copper project, located in Nevada’s Walker Lane Trend. The company reported an April 2024 NI 43-101 mineral resource estimate that includes 0.72 million ounces of indicated gold across 49.8 million tonnes grading 0.45 g/t Au and 0.27% Cu, alongside 1.28 million ounces of inferred gold across 112.2 million tonnes grading 0.35 g/t Au and 0.23% Cu, with significant silver credits.

A 2025 Preliminary Economic Assessment outlined a 14.2-year open-pit mine producing 109,000 ounces of gold and 33 million pounds of copper annually. The study calculated an after-tax NPV(5%) of US$943 million at base case assumptions and US$2.25 billion at spot prices. The feasibility study targets a production rate of 12 million tonnes per year and 150,000 ounces of gold per year.

Infrastructure at the site includes highway access, power, and process water rights totaling 2,500 acre-feet per year under transfer. As of June 30, 2026, the company held cash of $16.4 million with minimal debt and a market capitalization of approximately $140 million. The capital structure includes a large number of warrants and options.