Great Pacific closes sale of Adelong shares

Mr. Greg McCunn reports ADDITIONAL $1.83M RECEIVED BY GREAT PACIFIC GOLD ON AUSTRALIAN ASSET SALES Great Pacific Gold Corp. is providing an update on its Victoria, Australia, asset divestitures. The company previously announced the sale of its non-core assets, the Golden Mountain and the Lauriston projects, to Adelong Gold Ltd. in February and May, 2025. Under the sale of each project, the company received significant upfront payments, including total cash payments of $850,000 (Australian) and share issuances totalling $750,000 (Australian). The terms of the sale also included the following deferred payments: $1.1-million (Australian) of Adelong shares to be issued at a future date, $2.0-million (Canadian) of deferred milestone payments for the Lauriston project and a 2-per-cent net smelter royalty on Lauriston. The company has entered into a binding assignment agreement dated July 25, 2025, with an arm's-length individual investor to sell its current Adelong shares and all future consideration for an immediate lump sum payment of $2,058,000 (Australian) ($1.83-million (Canadian)). These funds have been received, and the transaction is closed. The company has no further rights or obligations under the agreements entered into with Adelong announced Feb. 12, 2025, and May 6, 2025. The company still holds 3.6 million shares in Golden Cross Resources Inc. from its sale of the Reedy Creek project with a current market value of $2.2-million (Canadian). Walhalla project spinout update The company's only remaining tenements in Australia are the Walhalla project tenements. Located in the state of Victoria, the district-scale Walhalla project consists of over 1,400 square kilometres of concessions. In addition to multiple areas with past historic production, Walhalla contains a high-priority greenfield target called Pinnacles. Extensive soil geochemistry at Pinnacles has highlighted a 400-metre-by-1,100-metre gold mineralized aplitic dike, which contains disseminated sulphides and outcrops at surface. The Pinnacles target is fully permitted, accessible and ready for immediate drilling. On May 2, 2025, the company announced a one-for-one spinout of the Walhalla project to Great Pacific shareholders, and, on June 23, 2025, the company announced it had entered into an arrangement agreement and received $1.5-million (Canadian) in conjunction with the arrangement agreement. Progress is being made on the spinout transaction with a National Instrument 43-101 technical report being prepared on the property and carveout financial statements being prepared and reviewed by an auditor. The company expects to announce a management team and board of directors for Walhalla Gold Corp. in due course, along with a schedule for completion and a record date for the transaction. The spinout transaction remains subject to the approval of the TSX Venture Exchange and the conditions set forth in the company's news release dated June 23, 2025. Qualified person The technical content of this news release has been reviewed, verified and approved by Callum Spink, the company's vice-president, exploration, who is a member of the Australian Institute of Geoscientists and MAIG and a qualified person as defined by National Instrument NI 43-101 (Standards of Disclosure for Mineral Projects). Mr. Spink is responsible for the technical content of this news release. Mr. Spink is not independent of the company. About Great Pacific Gold Corp. Great Pacific Gold has a portfolio of exploration-stage projects in Papua New Guinea. The company is focused on developing gold-copper resources from its highly prospective land packages. Its core projects include: Kesar project: Located in the Eastern Highlands province of PNG and contiguous with the mine tenements of K92 Mining Inc., the Kesar project is a greenfield exploration project with several high-priority targets in close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on strike and have the same orientation as key K92 deposits, such as Kora. Exploration work to date by the company at the Kesar project has shown that these veins have high grades of gold present in outcrop and very elevated gold-in-soil grades, coincident with aeromagnetic highs. The company conducted a diamond drill program on key target areas at the Kesar project from November, 2024, to May, 2025. Wild Dog project: Located in the East New Britain province of PNG, the Wild Dog project is a brownfield exploration project with a history of small-scale gold mining. The Wild Dog project contains numerous epithermal and porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations. The company completed a road refurbishment in August, 2024, and baseline environmental work in fourth quarter 2024. In first quarter 2025, the company began preparing for a drilling program with camp and infrastructure being established, airborne geophysics (MobileMT) survey completed, and a geological team in place. A first phase of diamond drilling is under way on the property. Arau project: Located in the Eastern Highlands province of PNG, the Arau project contains the highly prospective Mount Victor exploration target with potential for a high-sulphidation epithermal gold-base-metal deposit. A phase 1 reverse circulation drilling program was completed at Mount Victor in August, 2024, with encouraging results. The Arau project includes the Elandora licence, which also contains various epithermal and copper-gold porphyry targets. The company also holds the Tinga Valley project in PNG. We seek Safe Harbor.