Galloper Retains P&E Mining Consultants and Initiates Updated Mineral Resource Estimate for LPSE Deposit Evaluation on Glover Island

Executive Summary

• Galloper Gold Corp. has engaged P&E Mining Consultants Inc. to commence an updated NI 43‑101 compliant Mineral Resource Estimate for its 100% owned Lunch Pond South Extension (LPSE) gold resource.
• The update will incorporate current higher gold price assumptions and is expected to be completed in Q2 2026, potentially redefining the economic ore zone and pit‑shell geometry.
• Historical LPSE resource (2017) comprises indicated and inferred tonnage at both open‑pit (0.5 g/t Au cut‑off) and underground (2.0 g/t Au cut‑off) designs, with grades ranging from 1.72 to 2.99 g/t Au.

Key Details

• Consultant Engagement: P&E Mining Consultants Inc., the firm that performed the 2017 MRE, has been retained to prepare the updated estimate under NI 43‑101 standards.
• Resource Overview (2017):
• Open‑pit design (0.5 g/t Au cut‑off): 993,000 t indicated at 1.72 g/t Au; 1,703,000 t inferred at 1.59 g/t Au.
• Underground design (2.0 g/t Au cut‑off): 36,000 t indicated at 2.99 g/t Au; 373,000 t inferred at 2.78 g/t Au.
• Valuation Context: The original estimate used a gold price of US$1,210/oz; the updated MRE will reflect the significantly higher current gold valuation environment.
• Expected Timeline: Results from the refreshed MRE are anticipated in Q2 2026.
• Technical Oversight: Mr. Bryan Sparrow, P.Geo., Vice President of Galloper Gold, has reviewed and approved the technical information as Qualified Person under NI 43‑101.
• Forward‑Looking Statement: CEO Hratch Jabrayan highlighted that the updated MRE is a critical step toward advancing the Glover Island project and assessing its economic potential.

Notable Quotes

“Updating the MRE on the LPSE Resource is an important step to advancing and progressing the Glover Island Project. The project has benefited from a significant gold valuation increase since 2017… Results from this exercise are expected in Q2 2026.” – Hratch Jabrayan, CEO & Director, Galloper Gold Corp.