Pirate Gold Intersects 30.6 g/t Au over 1.35m and 4.25 g/t Au over 6.65m at Moosehead; Identifies New Gold Structure

Pirate Gold Corp. (YARR) released drill assay results from the Moosehead high-grade orogenic gold system at Treasure Island in Central Newfoundland. In the Eastern Trend, hole PGC-26-112 returned 30.6 g/t Au over 1.35m, including 89.7 g/t Au over 0.40m, at approximately 20m vertical depth. Meanwhile, Western Trend hole PGC-26-087 returned 4.25 g/t Au over 6.65m, including 40.8 g/t Au over 0.50m.

The company also identified a new parallel structure, the Caribou Fault, located about 150m west of the Western Trend. Nineteen shallow holes tested the Caribou over roughly 400m of strike, with eight holes reporting significant results. The best intercept from the Caribou Fault came from hole PGC-26-100, which returned 2.88 g/t Au over 2.45m, including 4.63 g/t Au over 0.90m.

Drilling on the Rib Vein continues to yield modest intercepts, including 6.15 g/t Au over 0.55m and 1.29 g/t Au over 4.25m. Additionally, the release announced a four-month automated market-making agreement with ICP Securities for C$7,500 per month.

Pirate Gold Corp. (YARR) is a pre-resource explorer with no NI 43-101 resource or reserve defined for its Moosehead or Crippleback projects. The company’s shares have already re-rated substantially from approximately C$0.03 in late 2025 to the C$0.20–0.38 range during the 2026 drilling program. Based on about 507 million shares and a recent price near C$0.21, the current market capitalization is around C$106 million. This valuation prices Pirate Gold as a district-scale discovery vehicle rather than a grassroots explorer still attempting to prove its first mineralized structure.

Against that backdrop, the recent release is supportive but incremental. The 30.6 g/t over 1.35m intercept represents a good high-grade result, but it does not materially expand the known high-grade footprint beyond what the market already expects from Moosehead. Additionally, the new Caribou Fault has a 400m strike tested, but grades of 1.0–2.9 g/t over narrow widths have not yet established a material new zone.

The release is not negative, as the Moosehead system continues to deliver results and a new parallel structure is a legitimate addition to the exploration model.

Pirate Gold Corp. (TSXV: YARR, OTCQB: YARRF) is a Newfoundland-focused explorer whose primary asset is the 100%-owned Treasure Island Project. The project covers over 90 km of strike along the Valentine Lake Fault Zone, with main exploration targets including Moosehead, a high-grade orogenic gold deposit; Crippleback/Moby Dick, a copper-gold porphyry to high-sulphidation epithermal system; and Stony Lake, along with other regional targets.

The company’s management team includes Executive Chairman and CEO Denis Laviolette, President Tim Froude, and VP Exploration and Qualified Person Greg Matheson. Notable shareholder Eric Sprott holds approximately 22% of the company. Pirate Gold currently has no resource or reserve estimates.

Regarding financial context, the company held approximately C$2.5M in cash as of the 2024 fiscal year. A presentation dated May 2026 indicates that cash reserves rose to approximately C$17M following a C$26M financing, with roughly 507 million shares outstanding.