P2 Gold starts Gabbs drilling to grow Sullivan zone

Executive Summary

• P2 Gold received BLM extensions for the Sullivan and Lucky Strike zones, allowing drilling to commence at the Gabbs project in mid‑October.
• A 4,500‑metre reverse‑circulation drill program is planned to upgrade the Sullivan zone from inferred to indicated resources, targeting up‑dip and down‑dip extensions and potential grade improvement.
• The Gabbs project currently holds 720,000 oz indicated gold (plus silver and copper) and 1.28 M oz inferred gold, with all zones remaining open in every direction.

Key Details

• Extension Notices: Bureau of Land Management granted extensions for the Sullivan and Lucky Strike zones, permitting drilling activities.
• Drilling Schedule: Mobilization of a reverse‑circulation drill rig is underway; drilling expected to start mid‑October 2026.
• Program Scope: 4,500 m total drill length planned for the Sullivan zone, the largest resource contributor (≈60% of total project resources).
• Resource Upgrade Goal: Convert inferred mineral resources in the Sullivan zone to indicated category; explore up‑dip and down‑dip extensions with potential to raise gold grades.
• Current Resources – Indicated: 720,000 oz Au, 2.17 M oz Ag, 297 MM lb Cu (49.8 Mt @ 0.45 g/t Au, 1.36 g/t Ag, 0.27% Cu).
• Current Resources – Inferred: 1.28 M oz Au, 3.04 M oz Ag, 567 MM lb Cu (112.2 Mt @ 0.35 g/t Au, 0.84 g/t Ag, 0.23% Cu).
• Qualified Person: Ken McNaughton, MASc, PEng, Chief Exploration Officer, certified under NI 43‑101, reviewed and approved the technical information.
• Future Work: Additional metallurgical testing planned; water permit anticipated in Q4 2026; all zones remain open with multiple drill‑ready targets at surface and depth.

Notable Quotes

(No direct quotes were provided in the release.)