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

Eastern Trend shallow drilling continues to deliver high-grade assay results along its southern extension with 30.6g/t Au over 1.35m including 89.7g/t Au over 0.40m in PGC-26-112 Western Trend drilling down plunge of the surface vein exposure yielded 4.25g/t Au over 6.65m including 40.8g/t Au over 0.50m in PGC-26-087 Caribou Fault Zone is a newly identified parallel fault structure to the Eastern and Western Trend Faults where shallow drilling has identified significant assay grades up to 2.88g/t Au over 2.45m including 4.63g/t Au over 0.90m in PGC-26-100 Rib Vein results include 1.29 g/t Au over 4.25 m in PGC-26-082 and 6.15 g/t Au over 0.55m in PGC-26-080. The vein has been traced over 200m of strike and to depths of 90m Episode 17 of Pirate Gold Treasure Hunters now airing: https://youtu.be/sxmJRcmAtog St. John's, Newfoundland and Labrador--(Newsfile Corp. - August 28, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) ("Pirate Gold" or the "Company") is pleased to announce field exploration results from Moosehead at its Treasure Island Project. The Treasure Island Project in Central Newfoundland covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district. Figure 1. Footprint of mineralized zones at Moosehead To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6079/311929_be01a21ca4c8da85_001full.jpg Eastern and Western Trend Drilling: PGC-26-112 was drilled at the southern end of the Eastern Trend and encountered high-grade mineralization at approximately 20m vertical depth, returning 30.6 g/t Au over 1.35m, including 89.7 g/t Au over 0.40m. At the Western Trend, PGC-26-087 tested 45m down plunge of the interpreted intersection between the north-south trending Western Trend and the east-west trending Rib Vein. The hole returned 4.25 g/t Au over 6.65m, including 40.8 g/t Au over 0.50m. Drilling at shallow levels of the Western Trend has confirmed high gold grades over 500m of strike and to depths of 140m. Surface trenching in 2024 exposed the interpreted Western Trend and Rib Vein intersection. Channel sampling returned 22.6 g/t Au over 4.85m across the Western Trend and 7.09 g/t Au over 8.1m across the Rib Vein. Rib Vein Drilling: The Rib Vein is a new discovery linking the Eastern and Western Trend Zones at Moosehead (Figures 1 and 2) which was announced on April 13, 2026, with highlights from PGC-26-028 yielding 65.1 g/t Au over 3.25m including 309.5g/t Au over 0.5m. The zone has continued to expand with PGC-26-033 grading 6.97g/t Au over 5.35m including 69.1g/t Au over 0.45m announced on May 26, 2026. Recent results have now connected the vein structure from Eastern to Western Trend including PGC-26-080 reporting 6.15g/t Au over 0.55m. The vein structure now measures over 200m in strike length and to depths of 90m. It is untested along strike past the intersection with the Eastern and Western Trend Faults and the vein remains open at depth. Caribou Fault Structure Drilling: The latest discovery at Moosehead is the Caribou Fault which lies approximately 150m west of, and parallel to, the Western Trend Fault Zone. Nineteen shallow holes tested the structure over 400 m of strike, with eight holes reporting significant gold results. PGC-26-100 returned 2.88 g/t Au over 2.45m, including 4.63 g/t Au over 0.90m. The northernmost hole, PGC-26-103, returned 1.04 g/t Au over 4.35m. Mineralization along the Caribou Fault shares similarities with the Eastern and Western Trend Faults, including vein networks with massive, stylolitic and brecciated textures. Mineralization typically consists of pyrite and arsenopyrite, with localized boulangerite. "The Moosehead zone comprises a broad network of faults and veins which to date have been traced along over 1500m of strike length and to depths exceeding 200m in the case of the Eastern Trend Fault. The discovery of the Caribou Fault was no surprise as we always believed that other parallel structures should exist here. The recent shallow drilling has shown that we have a fertile structure that is continuous along at least 400m and most importantly that it can host high-grade gold mineralization. I believe that further structural analysis and exploration of this fault in context with the more heavily explored Eastern and Western Fault Zones can lead us to identify additional high-grade mineralization along the structure which remains open along strike and at depth," said Greg Matheson, VP Exploration. "Moosehead continues to deliver high-grade gold. We're reporting 30.6 g/t gold over 1.35m and 4.25 g/t gold over 6.65m from established trends while also identifying another gold-bearing structure at Caribou. These results sharpen our understanding of the system and strengthen Moosehead's technical foundation. Together with the copper-gold opportunities we are advancing across Crippleback, Moosehead demonstrates the breadth of the discovery potential at Treasure Island," said Denis Laviolette, Executive Chairman and CEO. Fig. 2 - Recent drilling at Moosehead  To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6079/311929_be01a21ca4c8da85_002full.jpg Moosehead Background: Located in the northern part of the Treasure Island Project (Figure 3), Moosehead is a high-grade orogenic fault system believed to represent a second order fault network to the regional Valentine Lake Fault. The primary gold mineralization is hosted within two parallel fault zones at the Eastern and Western Trends where high-grade mineralization has been traced through drilling along 800m of strike length and nominally to a depth of 200m. In addition to the Eastern and Western Trends, a third parallel zone, the 552 Zone, lies 200m to the east and has yielded several high-grade results. Fig. 3 - Location of Moosehead within the Treasure Island Project To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6079/311929_be01a21ca4c8da85_003full.jpg Drill Hole From (m) To (m) Length (m) Au (g/t)  Target Zone   PGC-26-069 NSR Western Trend PGC-26-070 NSR Western Trend PGC-26-0712 19.90 21.35 1.45 1.21 Caribou Fault PGC-26-0722 24.05 24.80 0.75 2.81 Caribou Fault PGC-26-073 NSR Caribou Fault PGC-26-075 NSR Caribou Fault PGC-26-076 NSR Caribou Fault PGC-26-0772 32.90 33.55 0.65 1.28 Caribou Fault PGC-26-078 NSR Caribou Fault PGC-26-0801 38.50 39.05 0.55 6.15 Rib Vein PGC-26-081 NSR Rib Vein PGC-26-0821 60.75 65.00 4.25 1.29 Rib Vein PGC-26-0831 97.50 98.00 0.50 1.34 Rib Vein PGC-26-0841 170.60 172.10 1.50 1.30 Rib Vein PGC-26-0851 12.70 15.00 2.30 1.88 Western Trend PGC-26-0871 30.50 33.75 3.25 1.11 Western Trend and 41.00 47.65 6.65 4.25 incl. 46.40 46.90 0.50 40.8 PGC-26-0891 17.60 18.15 0.55 4.80 Western Trend and 22.00 23.00 1.00 2.17 PGC-26-0902 20.40 21.00 0.60 1.02 Caribou Fault PGC-26-091 NSR Caribou Fault PGC-26-0922 42.20 43.15 0.95 1.32 Caribou Fault PGC-26-094 NSR Caribou Fault PGC-26-0952 33.90 35.55 1.65 1.52 Caribou Fault PGC-26-096 NSR Caribou Fault PGC-26-097 NSR Caribou Fault PGC-26-098 NSR Caribou Fault PGC-26-1002 33.15 35.60 2.45 2.88 Caribou Fault incl. 33.95 34.85 0.90 4.63 PGC-26-101 NSR Caribou Fault PGC-26-102 NSR Caribou Fault PGC-26-1032 16.50 20.85 4.35 1.04 Caribou Fault PGC-26-1061 70.90 71.75 0.85 1.35 Western Trend PGC-26-1081 51.60 52.60 1.00 2.31 Western Trend PGC-26-1121 13.45 13.90 0.45 1.19 Eastern Trend and 33.40 34.75 1.35 30.6 incl. 33.40 33.80 0.40 89.7 PGC-26-1141 63.20 64.00 0.80 1.93 Western Trend and 177.00 177.70 0.70 3.28 and 184.25 187.75 3.50 0.94 and 190.50 191.00 0.50 7.86 PGC-26-1161 228.60 229.50 0.90 1.28 Eastern Trend   Table 1 - Significant Assay Results 1True widths estimated to be 70-90% of reported intervals 2True widths are unknown at this time Drill Hole Easting Northing Azimuth Dip Length (m) PGC-26-069 613703 5428285 220 -60 113 PGC-26-070 613666 5428292 250 -45 68 PGC-26-071 613521 5428327 250 -45 170 PGC-26-072 613538 5428098 75 -43 272 PGC-26-073 613582 5428135 225 -51 65 PGC-26-075 613507 5428322 250 -45 59 PGC-26-076 613517 5428342 250 -45 68 PGC-26-077 613536 5428332 250 -45 56 PGC-26-078 613526 5428314 250 -45 53 PGC-26-080 613690 5428436 170 -45 59 PGC-26-081 613664 5428449 170 -45 71 PGC-26-082 613703 5428467 170 -45 80 PGC-26-083 613721 5428507 180 -51 125 PGC-26-084 613707 5428563 170 -45 203 PGC-26-085 613739 5428557 170 -45 185 PGC-26-087 613640 5428466 222 -47 74 PGC-26-089 613629 5428463 240 -45 50 PGC-26-090 613545 5428351 250 -45 95 PGC-26-091 613550 5428339 250 -45 62 PGC-26-092 613554 5428324 250 -45 71 PGC-26-094 613554 5428305 250 -45 59 PGC-26-095 613559 5428284 250 -45 62 PGC-26-096 613565 5428263 250 -45 52 PGC-26-097 613566 5428239 250 -45 50 PGC-26-098 613574 5428215 250 -45 47 PGC-26-100 613580 5428190 250 -45 71 PGC-26-101 613585 5428163 250 -45 59 PGC-26-102 613581 5428190 250 -65 68 PGC-26-103 613507 5428476 250 -45 110 PGC-26-106 613877 5428274 254 -45 182 PGC-26-108 613853 5428273 255 -45 224 PGC-26-112 613824 5428260 252 -45 197 PGC-26-114 613862 5428242 250 -45 227 PGC-26-116 614157 5428724 282 -45 290   Table 2 - Drill Hole Information Pirate Gold Treasure Hunters Season 1 Episode 17 - Moosehead Flyover Episode 17 of Pirate Gold Treasure Hunters takes viewers on a flyover of Moosehead, tracing the high-grade gold vein network in the northern part of the Treasure Island Project. The episode revisits previously reported discoveries and the structural relationships behind them, highlighting the gold potential across this extensive orogenic system. The episode features: More than 135,000 m of drilling outlining Moosehead's high-grade vein network Discoveries across the Eastern and Western Trends, including a previously reported Eastern Trend intersection of 70.3 g/t Au over 9.05 m (January 31, 2019) The Rib Vein, linking the Eastern and Western Trends over 200 m of tested strike, with a previously reported discovery intersection of 65.1 g/t Au over 3.25 m (April 13, 2026) Lightly drilled fault corridors extending north toward Bow Tie Pond, where past drilling encountered visible gold Year-round access from the Trans-Canada Highway, near Grand Falls-Windsor and Bishop's Falls Multiple mineralized zones that remain open, highlighting Moosehead's potential for further gold discoveries Cannot view this video? Visit: https://www.youtube.com/watch?v=sxmJRcmAtog Subscribe to Pirate Gold's YouTube channel for weekly episodes of Treasure Hunters and follow the drill in real time: https://www.youtube.com/@PirateGoldCorp Pirate Gold Engages ICP Securities Inc. for Automated Market Making Services Pirate Gold is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium® in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of August 28th, 2026, and is for four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future. ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. Qualified Person Greg Matheson, P.Geo., VP Exploration for Pirate Gold, a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release. About Pirate Gold Corp. Pirate Gold Corp. is a Newfoundland-focused exploration company advancing its 100%-owned Treasure Island Project, a district-scale property covering more than 90 km of strike along the Valentine Lake Fault Zone. Exploration is focused on the high-grade Moosehead gold system, the Moby Dick copper-gold porphyry/epithermal discovery and multiple regional targets across the Crippleback Intrusive Suite. The Company also holds a portfolio of Newfoundland gold projects, including the district-scale Fleur de Lys Project. For more information, please contact: Denis Laviolette, Executive Chairman, CEO & Director E: [email protected] Joshua Duggan, Investor Relations T: 647-526-1881 E: [email protected] Website: www.pirategold.ca Twitter: @PirateGoldCorp Facebook: @PirateGoldCorp LinkedIn: @PirateGoldCorp QAQC Statement Diamond drill holes are HQ size and are processed at the Company's secure core logging facility in Grand Falls-Windsor, NL by qualified geologists and technicians. Drill core samples are sawn in half and submitted to ALS Canada Ltd. ("ALS"), Thunder Bay, ON for gold determination by PhotonAssay™ method and Vancouver, BC for multi-element analysis. Drill core samples analyzed at ALS are submitted under prep codes LOG-21, CRU-31 and SPL-32a. ALS performs Au-PA02 analysis on all samples. Any sample suspected of having visible gold or received with an Au-PA02 value greater than 10 ppm undergoes Au-PA02e. Results of Au-PA02e use a weighted average for final assay determination. The Company inserts quality control (QC) samples at regular intervals, including blanks, reference materials and field duplicates to monitor the performance of the laboratory. Additionally, Pirate Gold Corp conducts check assays at a third-party facility which is independent of ALS Canada Ltd. Acknowledgment Pirate Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Investors are cautioned that trading in the securities of the Company should be considered highly speculative. This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Actual results may differ materially. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) including statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other matters are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements. Factors that may cause results to vary include delays in obtaining necessary approvals, changes in the market for the Company's securities, results of exploration, loss of title to properties, delays in obtaining permits or access to mineral properties, including as a result of adverse weather, fire or flood, changes to the Tax Act, rejection of expenditures as Qualifying Expenditures, and factors included in the documents filed from time to time with the Canadian securities regulatory authorities by Pirate Gold Corp. Pirate Gold Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311929