Stellar Africagold - District-Scale Soil Sampling Defines Further Gold Exploration Targets At Zuenoula, Cote D'ivoire

Overview of Stellar AfricaGold and flagship assets

• Stellar AfricaGold is advancing two flagship gold projects in Africa: Tichka Est in Morocco (mid- to late-stage exploration with a goal of resource delineation) and Zuénoula (Zuenoula) in Côte d'Ivoire (Ivory Coast) under a joint-venture framework with MetalsGrove.
• The company has executed an earn-in and JV arrangement with MetalsGrove and its subsidiary MetalsGrove CDI Pty Ltd, designed to fund partner-led exploration on Zuenoula with Stellar retaining upside exposure while preserving capital for Tichka Est.
• The company has conducted and communicated a steady stream of exploration and development updates across both projects, including soil sampling, trenching, and diamond drilling, with expectations of downstream drill targeting and resource estimation pending further work.

Most recent news highlights (March 11, 2026)

• District-scale soil sampling at the Zuénoula Gold Project defines three exploration target areas: Fifty-Five Area, Central Area, and South East Corner Area.
• Infill soil sampling is complete in all three areas, with assay results pending.
• Infill grid strategies include 100 m x 50 m sampling on the target zones to refine drill targets.
• The Zuénoula project is a JV between Stellar’s Aucrest SARL (Stellar AfricaGold) and MetalsGrove Mining Ltd. MetalsGrove can earn up to 50% by incurring US$3.0 million in exploration expenditures (through 2029) and up to 80% with an additional US$3.0 million in exploration expenditures.
• Key royalty structure: Elemental Altus retains a 1% NSR on Zuénoula. The JV is governed by a joint management committee with MetalsGrove as operator during the sole-funding phase.
• This release continues to emphasize de-risking via partner funding and expanding the target pipeline rather than reporting new resource outcomes.

Other notable related news in the period

• February 4, 2026: Initial district-scale soil sampling at Zuénoula defines first gold anomalous cluster and establishes a field plan for infill sampling with a field assay capability in place; reinforces a positive exploration trajectory and continued collaboration with MetalsGrove.
• March 3, 2026: Phase II planning for Tichka Est includes a 5,000-metre diamond drill program targeting Zone B to advance towards a maiden Mineral Resource estimate; signals an accelerated deployment of drilling activity in Morocco after Phase I successes.
• February 3, 2026 and February 6–7, 2026: Drilling updates at Tichka Est (Morocco) showing continued progress and positive interpretation, including a Phase I program demonstrating structural controls and mineralization trends; a Phase II plan to expand drilling around Zone B to test extensions and depth continuity.

Context and strategic implications

• The latest Zuenoula update reinforces the MetalsGrove earn-in/JV mechanism as a meaningful de-risking and funding channel for an early-stage asset, potentially unlocking value without immediate equity dilution for Stellar and enabling a broader exploration program.
• The ongoing Tichka Est drill program and the planned Phase II program align with Stellar’s narrative of advancing toward a maiden resource quickly, supported by a strong structural model and encouraging drill intersections from Zone B.
• The news flow is consistent with the company’s prior updates on project strategy and partner-funded exploration; no unexpected negative surprises were reported, and the tone remains constructive.

• Directional impact: Positive, with incremental but meaningful progress rather than a single, market-moving discovery.
• Compared with prior announcements:
• The 2025 announcements establish the MetalsGrove earn-in/JV framework for Zuenoula and outline staged expenditures to 50%/80% ownership, providing a de-risked pathway and capital efficiency for Stellar.
• The 2026 updates continue this trajectory by expanding target areas (Zuenoula) and by advancing a robust Phase II drill plan at Tichka Est, including a maiden resource objective.
• The presence of assay results pending for Zuenoula infill soil sampling is typical for early-stage exploration and does not, by itself, constitute a material discovery; however, it keeps the project in focus for potential drill targets and capital efficiency through the JV.
• Materiality classification: Routine - Positive. The news confirms continued progress and de-risking through JV financing and staged drilling, but does not present a new, market-moving resource estimate or a large one-off financing event.

• Company profile:
• Stellar AfricaGold Inc. is a Canadian explorer focused on gold projects in Africa.
• Flagship projects: Tichka Est Gold Project (Morocco) – early-stage exploration with a plan for a maiden resource; Zuénoula Gold Project (Ivory Coast) – exploration with MetalsGrove JV earn-in.
• Strategic direction:
• Leverage MetalsGrove as a partner to fund exploration at Zuénoula, while Stellar concentrates capital on Tichka Est.
• Target to translate trench and drilling results into a resource outline at Tichka Est and a defined drill target pipeline at Zuénoula.