P2 Gold Announces Infill and Expansion Drill Results from Gabbs

The news release dated January 14, 2026, reports results from the final 11 Reverse Circulation (RC) drill holes of the recent program at the Sullivan Zone within the Gabbs Project in Nevada. Key intercepts include hole GBR-066, which returned 76.2 meters grading 0.69 g/t gold, and hole GBR-063, which returned 53.3 meters grading 0.58 g/t gold. The drilling was designed to define the margins of the Sullivan Zone, which remains open in multiple directions. These results follow the first batch of results released in December 2025 and conclude the 39-hole RC program. Management indicates that these results confirm the existing mineral resource model and support the upcoming Mineral Resource Estimate (MRE) update planned for mid-2026.

The impact is Material - Positive for several reasons: - Validation of Geological Model: The results confirm that the Sullivan Zone—which hosts approximately 60% of the project's resource—is predictable and possesses expansion potential at its margins. - Continuity of De-risking: This data is a critical input for the upcoming Feasibility Study (FS). By converting Inferred resources to Indicated and expanding the footprint, the company is building the foundation for a more robust FS. - Timeline Confidence: The company is sticking to its stated timeline (MRE in mid-2026, FS in Q4 2026), which reduces administrative risk. - Grade Consistency: While the grades are relatively low-grade (typical of Nevada porphyry/epithermal systems), the widths are significant (50m+), supporting the bulk-tonnage open-pit mining scenario outlined in the 2025 PEA.

P2 Gold is focused on the Gabbs Project on the Walker Lane Trend in Nevada. The project is an gold-copper porphyry/epithermal system. The 2025 PEA outlines a 14.2-year mine life producing an average of 104,000 oz of gold and 13,500 tonnes of copper annually. The project uses a combination of heap leach for oxide and a mill for sulphide ore starting in year 6.