Vancouver, British Columbia–(Newsfile Corp. – January 26, 2026) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) (“West Point Gold” or the “Company“) is pleased to announce that it has entered into an engagement letter with SCP Resource Finance LP (“SCP” or “Lead Agent“), under which SCP, acting as Lead Agent for the Company, on behalf of a syndicate of agents (collectively with SCP, the “Agents“) has agreed to offer for sale up to 18,181,900 common shares of the Company (the “Shares“) on a “commercially reasonable efforts” private placement basis at an issue price of C$1.10 per Share (the “Issue Price“), for aggregate gross proceeds of up to C$20,000,090 (the “Offering“).
The Company intends to use the net proceeds of the Offering for exploration at the Gold Chain Project in Arizona, USA and for general corporate and working capital purposes.
As consideration for its services, the Agents will receive a cash commission of 5% of the gross proceeds of the Offering, provided that Shares sold to purchasers on the Company President’s List will be subject to a reduced cash commission of 2%. The Agents may elect to receive up to 50% of their cash commission in Shares at the issue price. In addition, the Agents will receive broker warrants in an amount equal to 5% of Shares sold, provided that no broker warrants will be issued for any Shares sold to purchasers on the President’s List. Each broker warrant issued will be exercisable to purchase one Share at the Issue Price for a period of two years from the closing date of the Offering.
The closing date of the Offering is scheduled to be on or about February 17, 2026, or such other date or dates as the Company and the Lead Agent may agree. The Offering remains subject to the approval of the TSX Venture Exchange and applicable securities regulatory authorities. Certain officers and directors of the Company may participate in the Offering. Any securities issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About West Point Gold Corp. West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.
For further information regarding this press release, please contact: Aaron Paterson, Corporate Communications Manager Phone: +1 (778) 358-6173 Email: info@westpointgold.com
FORWARD-LOOKING STATEMENTS: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance and the proposed Offering. Forward-looking statements include estimates and statements that describe the Company’s private placement, future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s ability to complete any payments or expenditures required under the Company’s various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company’s expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR+ made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia–(Newsfile Corp. – January 22, 2026) – Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) (the “Company” or “Questcorp”) along with its partner Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (“Riverside”), is pleased to report a high grade interval of 20.2 g/t gold and 226 g/t silver with 2.7% zinc over a 30 m long continuous chip channel sample along the decline wall at the Union Mine area, completed during the 2025 Phase I exploration and drill program at the La Union Project in Sonora, Mexico. The Company is also releasing the remaining results from the drill program following up on the 2026-Jan-12 News Release of initial results.
Final Highlights of the Phase 1 Drill and Exploration Program
Chip channel sampling oblique to strike along the decline wall at the Union Mine returned 30 m @ 20 g/t gold and 226 g/t silver (600 gram-metres gold and 6780 gram-metres silver) suggesting significant mineralization remains in place.
Drilling at the Union Mine, Union Norte, and El Cobre target areas hit Carbonate Replacement Deposit (CRD) style of mineralization with favorable indications, including anomalous levels of zinc, silver, gold, and lead, consistent with previous mining and positive for the program.
This compliments the comparable results from Famosa and Famosa EM target reported earlier.
Indications of possible Carlin-like sediment-hosted gold indicators in the upper parts of the Union Mine drilling, indicate a potential disseminated gold target on the property, complimenting the Luis Hill target where the one drill hole intersected a sediment-hosted gold target with 42 m at 0.3 g/t gold in black shales and carbonate strata similar to Carlin Nevada style.
“We are extremely pleased with the success of our initial Phase I drilling and chip channel sampling at La Union. The drilling and exploration continue to support the CRD model envisaged by John-Mark Staude and his team at Riverside. The unexpected Luis Hill discovery of “Carlin” type gold mineralization further enhances the productivity of the La Union project. We see flashing green to continue forward with our exploration journey,” said Saf Dhillon, President & CEO of Questcorp.
“Riverside is excited by the high grade of 600 gram-metres gold and 6,780 gram-metres silver represented by the 30 metres of continuous chip channel sampling from the Union Mine area,” said John-Mark Staude, President and CEO of Riverside Resources. “These results, together with the completed Phase 1 drill assays from Union Mine, Union Norte and El Cobre, reinforce that drilling is intersecting the types of CRD-style alteration and multi-element signatures we were targeting, including anomalous zinc, silver, gold and lead consistent with the historic mining district and also finding sediment-hosted gold (“SHGD”) indicators is a key development in progressing the Union Project and supports the technical rationale for aggressive follow-up work in 2026.”
Chip Channel Sampling, Union Mine Area
Chip channel sampling along the decline wall at the Union Mine returned high grade gold and supports follow-up exploration, with the potential to drill from the upper most mine workings or from surface to expand upon the 30 m at 20 g/t gold and 226 g/t silver zone. Table 1 discloses the full assay results of the gossan oxides with high grade zinc as is typical of CRDs in the region. The type deposit in the region is Hermosa’s South32 Taylor Deposit in southernmost Arizona near the Sonora border immediately north of the Union Project hosting probable reserves of 65Mt 4.35% zinc, 4.90% lead and 82 g/t silver and measured and indicated resources of 124Mt 3.66% zinc, 4.02% lead and 73 g/t silver. Hermosa South32 is currently investing $2.6 billion to develop the Hermosa Project. Sources: South32 2025 Annual Report; https://south32hermosa.com/wp-content/uploads/2025/05/S32_Hermosa-Project-Overview-EN_050125-Web-1.pdf.
Table 1. Chip Channel Sample Results from Union Mine Decline
30 meter continuous chip channel sampling interval Union Mine Adit
SampleID
SampleType
Width_m
RockType
Au_ppm
Ag_ppm
Zn_%
As_ppm
Cu_ppm
Pb_ppm
RRI 13959
Chip Channel
3
Gossan oxides of CRD Dolomite
0.161
33
3.21
358
392
467
RRI 13961
Chip Channel
3
Gossan oxides of CRD Dolomite
0.048
5
3.53
619
1160
171
RRI 13962
Chip Channel
3
Gossan oxides of CRD Dolomite
11.57
55
2.8
3420
1080
2840
RRI 13963
Chip Channel
3
Gossan oxides of CRD Dolomite
6
1083
2.31
>5000
1030
759
RRI 13964
Chip Channel
3
Gossan oxides of CRD Dolomite
12.75
610
4.06
>5000
2160
722
RRI 13965
Chip Channel
3
Gossan oxides of CRD Dolomite
0.159
107
2.25
>5000
1630
1190
RRI 13966
Chip Channel
3
Gossan oxides of CRD Dolomite
1.115
197
4.35
>5000
426
1020
RRI 13967
Chip Channel
3
Gossan oxides of CRD Dolomite
0.282
50
0.7
>5000
61
242
RRI 13968
Chip Channel
3
Gossan oxides of CRD Dolomite
14.73
66
3.11
>5000
2040
2650
RRI 13969
Chip Channel
3
Gossan oxides of CRD Dolomite
155.41
54
0.4
4330
214
2660
Total Amounts
30
Total Grams over 30 m =
202
2257
26720
Interval
30 m @ 20.2g Au, 226 g Ag, 2.7% Zn
Table 1: Full 30m channel sampling results with the interval. For reference, using a 24 m continuous subset of the channel interval, the average weighted grade is 25 g/t gold and 290 g/t silver. The sampling is oblique to strike.
The Union Mine cross section (Figure 1) shows holes 1 and 8 along with the gold-rich channel sampling results, providing context for the 30 m gold-silver-zinc interval relative to some of the known ore bodies. Areas for follow-up and expansion at Union Mine area are clearly indicated to the right (southeast) in Figure 1 as the 2025 drilling has helped define the stratigraphy and highlighted areas of SHGD styles of mineralization similar to eastern Nevada. The bottom of hole 8 hit strong indications of CRD mineralization prior to intersecting the mine workings, as well as manto horizons along the drill hole with 15.85m @ 214 ppm Zn in dolomitized limestone. Drill hole 7, drilled north of holes 1 and 8 and the cross section hit 14m @ 0.1% Zn in the Union Mine area as well.
Figure 1: Cross section through the Union Mine area showing Phase 1 drill holes (including holes 1 and 8), interpreted mine workings/ore zones, and the location of the continuous channel sample along the Union Mine decline wall. The section illustrates the spatial relationship between the high-grade Au-Ag-Zn channel interval and nearby drill intercepts and provides geological context for potential follow-up targeting for both CRD and SHGD.
The second Union Mine cross section (Figure 2) shows the channel sampling along with the location of historic mining, highlighting areas with remaining CRD potential.
Figure 2: Cross section of the Union underground sampling and some of the orebodies previously mined that could have remaining potential as CRD targets for next round of follow up.
The location of all 12 drill holes from the 2025 Phase I programs are shown in the drill plan (Figure 3), with the channel sampling area and the Union Mine, Union Norte and El Cobre target areas highlighted.
Figure 3: Union project drill hole locations for 1600m with 12 total holes in Phase 1 program with Questcorp and Riverside working together during 2025 exploration program.
While the results from the Famosa Targets and Luis Hill were disclosed in the 2026-Jan-12 News Release, Table 2 discloses the full results from the 2025 program, with the previously drilled holes highlighted in yellow. Hole 3 is not shown as it is aborted early due to poor drilling conditions, it was redrilled as hole 6 to test and hit mineralization in the target area initially planned for hole 3. Further drilling at Union Norte can be pursued and is recommended for both CRD and SDHG targets.
Target
Hole ID
From
To
Width
g/t Au
g/t Ag
ppm Pb
ppm Zn
Union Mine
UND25-001
64.8
65.6
0.8
227
UND25-001
68.75
77.8
9.05
116
UND25-001
133.05
134.2
1.15
179
1148
El Cobre
UND25-002
86.5
87.65
1.15
568
743
UND25-002
148.5
149.95
1.45
749
2262
Famosa Mine
UND25-004
19.1
34
14.9
120
141
UND25-005
35.05
46
10.95
0.066
3.34
102
61
including
39.1
40.95
1.85
0.354
13.40
485
243
Union Norte
UND25-006
47.5
49
1.5
0.382
1.10
130
186
Union Mine
UND25-007
139
141
2
0.084
1.20
398
537
UND25-007
146.85
147.9
1.05
175
UND25-007
152.2
166.2
14
0.018
0.96
70
1004
including
154.75
156.7
1.95
1512
including
161.65
163.15
1.5
2778
UND25-008
66.5
82.35
15.85
223
Luis Hill
UND25-009
64.95
66.95
2
0.299
18.60
53
24
UND25-009
95.8
97.8
2
0.411
26.90
58
43
UND25-009
198.25
241.25
43
0.276
0.71
25
87
including
211.8
217.8
6
0.852
0.69
29
100
including
228.3
232.9
4.6
0.466
0.78
13
63
UND25-009
273.95
275
1.05
0.183
12.20
4680
3490
UND25-009
287.55
289.55
2
0.114
0.60
48
37
Famosa EM
UND25-010
39.5
87.45
47.95
90
Famosa Mine
UND25-010
146.4
148.05
1.65
0.135
0.25
2
17
UND25-011
11.5
23.35
11.85
0.018
13.09
224
157
UND25-012
9.65
25.8
16.15
0.031
3.65
138
124
including
12.9
16.9
4
0.084
6.60
398
287
Table 2: Full 2025 assay interval results from the 2025 Phase I drill program. Note: all intervals are down hole widths as true width is unknown at this time.
Union Mine Target Detail
Union Mine, with CRD in past oxide operations, had three holes drilled this round (UND25-1, 7, 8). Drilling intersected zinc in the right types of alteration for the CRD, with the holes ending in the old underground workings. Follow-up drilling will be completed to better test these precious and base metal zones and particularly the SHGD potential as well.
Luis Hill Target Detail (Previously Announced 2026-Jan-12)
Hole 9 was drilled vertically in the southern part of the Luis Hill target, a large 1,500 m by 500 m magnetic high. Although the hole did not intersect an obvious large magnetic source, it cut several magnetic dioritic dikes, which may be related to a deeper and larger magnetic body, likely an intermediate-composition intrusion. The discovery interval comprises gold hosted in siliceously replaced, jasperoid-like dolomite and silica-flooded black shale, which is comparable to some sediment-hosted gold deposits in Nevada (Carlin Deposits, USGS Prof. Paper 1267, 1985). This represents a new finding for this part of Sonora and is significant for both the property and the region, as it indicates potential for previously unrecognized sediment-hosted gold within one of Mexico’s most prolific gold belts, the Sonora Gold Belt (also referred to as the Megashear Gold Belt in past scientific studies). Folding and Basin and Range block faulting are expected to bring the mineralized formations closer to surface, supporting additional drilling in H1 2026 within the magnetic target area. Riverside and Questcorp believe Luis Hill has the potential to become a major new discovery in Mexico.
The new discovery at Luis Hill identified previously unrecognized Carlin-like, sediment-hosted gold mineralization in black shales and carbonate strata, returning 0.3 g/t gold over 42 m, with results to date indicating sulfides, mineralization styles, and intrusions consistent with a carbonate-hosted metal system. The 42 m interval comprises 23 assay intervals ranging from 0.45 m to 2 m in width, with gold values from 0.005 g/t to 1.31 g/t; fifteen intervals returned greater than 0.1 g/t Au, including three intervals exceeding 0.5 g/t Au. This type of thick continuity is new for this part of Sonora, while further east the Santa Gertrudis mine produced 671K oz of gold and has indicated open pit resources of 19.27Mt @ 0.91 g/t Au for 563K oz gold, inferred open pit resources of 9.82Mt @ 1.36 g/t for 429K oz gold and inferred underground resources of 9.02Mt @ 3.44 g/t gold for 1.004M oz gold in siltstone, shale and carbonate sediment. Sources: Production: https://miningdataonline.com/property/1718/Santa-Gertrudis-Project.aspx, Resources: Agnico Eagle Mines Limited Detailed Mineral Reserve and Mineral Resource Data as of December 31, 2024.
The geochemistry from the gold intercepts associated with shale horizons at Luis Hill are plotted in (Figure 4) and illustrate the relationship between gold and argillite-hosted horizons. This indicates that Luis Hill is not CRD mineralization; instead, it represents an SHGD-style system This indicates that Luis Hill is not CRD mineralization; instead, it represents an SHGD-style system:
Figure 3: Gold with high Al + K + Na, meaning not with the dolomite and limestone for the sediment-hosted gold aspects like Nevada. Carlin geochemistry for the Luis Hill Hole 9.
Table for Phase 1 Drilling Union Project H2, 2025 All Holes, 162 5 m total
Hole _lD
East ing
Northing
Elevat ion
Azimuth
Dip
Total Depth
Target
UND25-001
376043
3347225
358.66
131
-50
198.25
Union Mine
UND25-002
375606
3347813
381.37
65
-50
201.30
El Cobre
UND25-003
376048
3347598
378.34
65
-50
25.90
Union Norte
UND25-004
375137
3344629
360.47
110
-70
129.35
Famosa Mine
UND25-005
375146
3344578
362.35
92
-70
104 .80
Famosa Mine
UND25-006
376099
3347627
389.13
100
-80
118.45
Union Norte
UND25-007
376199
3347156
355.46
280
-80
166.20
Union Mine
UND25-008
376111
3347136
369.34
125
-80
128.10
Union Mine
UND25-009
375261
3347551
400.64
0
-90
292 .80
Luis Hill
UND25-010
374941
3344765
363.95
90
-70
161.60
Famosa EM
UND25-011
375171
3344608
362.45
90
-85
51.00
Famosa Mine
UND25-012
375171
3344608
362.45
90
-90
47.25
Famosa Mine
Table 3: Complete drill collar information. The drill results from the unshaded holes are being released today and include results from the Union Mine, Union Norte and El Cobre. The yellow-colored holes were announced 2026-Jan-12.
Geological Model and Strategy
The H2 2025 Phase I program was designed to test primary areas of historical mining and key magnetic targets. The program followed the geological model of the South32 Taylor deposit in southern Arizona. Drilling intersected gold, zinc, and silver indications consistent with vectors toward a major discovery.
Furthermore, the sediment-hosted gold style found at Luis Hill is comparable to Nevada’s carbonate platform geology, making it an intriguing new development area for the Union Project.
Sampling Procedures and QA/QC
Core was logged, saw-cut, and half-core samples were shipped for analysis. Samples from the first eight holes were delivered to Bureau Veritas (Hermosillo, Sonora) for gold fire assay, with pulps forwarded to Vancouver, Canada for Inductively Coupled Plasma-Mas Spectrometry (“ICP-MS”) following four-acid digestion to determine silver, base metals, and pathfinders. Samples from the final four holes were shipped to ACT Labs Zacatecas, where preparation, gold assay, and multi-element ICP are completed in Mexico. The final 4 holes of the program were shipped to ACT Labs where they were similarly assayed using the same processing methods but with their initial preparation and assaying completed in Zacatecas, Mexico using the same ICP and gold fire assay methods. The change in lab halfway through the program was due to assay turn around issues. Samples were maintained in chain of custody being delivered to the laboratory in sealed bags. Remaining half-cores are retained for reference. Standards were inserted every 20 samples and blanks every 100 samples. The laboratory also duplicated every 20 samples as an additional check on quality control. The QA/QC was analyzed with a check for any variations in the standards beyond 2 standard deviations and the standards passed.
Next Steps
With the interpretation and release of all assays, the Companies will work together on organizing the H1 2026 Phase 2 exploration program, building from the Phase I exploration results. Along with follow-up drilling, Phase 2 will likely include geophysics, geochemistry and mapping.
The encouraging results at Union Mine and at Luis Hill warrant further significant exploration and drilling and will be the primary focus of the next phase of La Union exploration.
The Companies are diligently working toward an expanded drill program for H1 2026, as all permits and access are in good standing. With the new data and targets ready to be further explored, the potential to immediately begin field work portions are in place for early this year.
Qualified Person
The technical content of the new release has been reviewed and approved by R. Tim Henneberry, P. Geo (British Columbia), a director of the company and a qualified person under National Instrument 43-101.
The Union Agreement
Questcorp currently holds an option to earn a 100% interest in the Union Project, on terms previously announced May 6, 2025. Questcorp and Riverside are aligned through Riverside’s equity interest in Questcorp, which is initially 9.9% and may increase to 19.9% upon Questcorp satisfying the complete earn-in, with Riverside also retaining a 2.5% NSR royalty.
About Questcorp Mining Inc.
Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.
Suite 550, 800 West Pender Street Vancouver, British Columbia V6C 2V6.
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
Vancouver, British Columbia–(Newsfile Corp. – January 21, 2026) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (“Riverside” or the “Company“) is excited to announce that it has used some of the recent capital raise, and more importantly, has doubled the size of the Jacket Property by optioning the Redtop property. The combined project will now be referred to as the “Red Jacket Project.” The decision to acquire the Redtop property followed Riverside’s initial exploration program in the later part of 2025. The Redtop property is contiguous with, and immediately north of Riverside’s Jacket claims.
The Red Jacket is easily accessed via paved highway and then by logging road, approximately 15 km east of Clearwater and 115 km north-northeast of Kamloops in central British Columbia. The project is north of the Taesko Mines’ feasibility-stage Yellowhead Copper Project, which hosts a large Cu-Zn-AG-Au reserve and is considered a potential near-term future mine. The Redtop property hosts at least three main outcropping and previously drilled polymetallic mineral occurrences and is located within a well mineralized prospective belt of volcanogenic massive sulphide (“VMS”) deposits. These occurrences display classic features characteristic of the large Canadian deposits of this deposit type and are similar to Taseko’s copper resource 10km to the south in the same Eagle Formation, Cambrian age geology.
The Company reviewed the historical work and expanded on historical soil sampling and trenching this autumn. This work outlines a 4 km long northwest-southeast trend that includes the Redtop, Snow and Sunrise showings. Riverside completed target sampling in late 2025 to validate mineralization in areas of past trenching and to strengthen confidence in the project’s best-known zones, where 2026 exploration work can be done on the consolidated project. Riverside’s results confirm the presence of meaningful polymetallic grades at surface supporting the view that the Red Top horizon merits systematic follow-up work to evaluate continuity and prioritize the most prospective sections for the next phases of exploration.
“Red Jacket is a compelling project in our British Columbia portfolio, and we have expanded our property footprint by acquiring the Redtop project,” said John-Mark Staude, CEO of Riverside Resources. “Our 2025 sampling returned high-grade polymetallic results from historical trenches, reinforcing that the Redtop–Snow–Sunrise trend warrants drill testing and further expansion, particularly in light of Taseko’s advanced-stage copper development project in the same geology immediately to the south. Red Jacket is positioned in a proven district that has seen significant past exploration and mining activity. We believe we are in a strong position to advance value generating work across the expanded claim package and pursue additional discoveries as we work to discover new mineral resources for the Riverside”.
Red top deal terms:
The Redtop claims are located north of, and contiguous with, Riverside’s Jacket claims. Riverside has signed an option agreement to acquire the claims from a private group called “Geo Exploration Scouts”. The terms of the option agreement are summarized in the table below.
Table 1: Option terms of the Redtop Claims
Completion Date
Cash ($)
Additive Expenditures ($)
On signing of Definitive Agreement
12,000 (paid)
0
At time of receiving approval of drill permit within 4 years (Approval Date)
21,000
50,000
One year after Approval Date
27,000
100,000
Two years after Approval Date
45,000
300,000
Three years after Approval Date
75,000
300,000
Total
$
180,000
$
750,000
In addition to the cash and work expenditures, the Optionor will retain a 0.45% Net Smelter Returns Royalty, which is subject to $1,000,000 buyout. Riverside will have the first right of refusal on any sale or transaction involving the royalty. If an exploration permit cannot be obtained within 4 years of signing the definitive agreement, the project will be returned to optionor. No payments or work commitments will be required until a drill permit is acquired and all necessary agreements are in place to proceed with drilling and related exploration. The option agreement is subject to TSXV approval.
Historical Exploration Work
The historical geochemistry, geology and geophysics, including that on the optioned claims, continues to add value for the Company. This builds on key work completed by companies such as Placer Dome, and precedes the work by Taseko, which now controls the large copper resource, reserve and feasibility-staged property to the south. At Red Jacket, the combined and integrated historical soil sampling surveys confirm the continuity of the known mineralized bands, and can be traced consistently within a defined belt over 4km long northwest-southeast horizon that includes the known MinFile showings: Redtop, Snow and Sunrise (Figure 2). The prospective horizon hosting these showings has received minimal drill testing and the entire length of the horizon is considered a target. Historical work by Placer Dome Inc. shows a zinc-in-soil anomaly enveloping the areas of known mineralization, similar to the Yellowhead deposit in its early exploration history. This linear, southeast trending anomaly is roughly parallel to a potassium enrichment zone shown in the K% and eTH/eK radiometric images (Figure 1). In addition, the north-trending linear magnetic highs noted on the Total Magnetic Intensity image are likely showing mafic dikes and/or structures. Together, the airborne detailed magnetics help in refining targets, and the coincident soil anomalies provide immediate areas of interest with district-scale potential. Linking the historical showings with the consolidated land package positions the Company to advance systematic work aimed at unlocking value for shareholders.
Figure 1: Radiometric Map K% of the Red Jacket project with the red northwest high showing the outcropping and very near surface potassic anomaly associated with the VMS style alteration and multiple mineral showings that have high grade base metals in trenches and dumps but with very limited shallow drilling.
Riverside collected samples before snowfall ended the program, and Riverside can now return early in the spring to continue follow-up work on the Redtop claims, supported by high-grade assay results. The sampling confirmed the historical range of high-grade values in the area of past trenching that are easily accessible by recent logging roads. These areas include zones affected by pine beetle tree kill, which has created extensive new exposures that were not available even a decade ago. Three main showings were sampled during the autumn field work, while the actual Redtop showing already had snow cover and will be a priority target for early 2026 field work.
Table 2: Riverside Grab samples from the Sunrise and Snow trenches.
Sample
Au (ppb)
Ag (ppm)
Pb (%)
Zn (%)
Cu (%)
Showing
472167
866
176
1.11
2.38
0.11
Sunrise
472168
513
86.9
0.63
0.65
0.04
Sunrise
472169
454
128
0.76
23.00
0.04
Sunrise
472170
714
22.1
0.14
24.40
0.03
Sunrise
472171
345
217
2.78
0.65
0.43
Snow
*Grab samples were taken in November of 2025 by Riverside Personnel.Grab samples by their nature are selected samples and the results for these selected samples may not reflect underlying mineralization.
The area of the Sunrise Occurrence contains at least six trenches, showing multiple thin bands of semi-massive to massive sulphide hosted in quartz-sericite schist. Bedding at Sunrise dips shallowly (<10°) to the east, as the showing is located in the nose of the anticline. Four samples were collected and assayed from the Sunrise trenches, with elements from the four samples returning up to 1.1% lead, up to 24% Zn, up to 0.1% Cu, and up to 128 g/t Ag and 0.8 g/t Au (Table 1).
The Snow Showing comprises of a small trench that hosts shallowly north-dipping, rusty quartz-sericite schist. A poorly exposed semi-massive sulphide layer of unknown thickness is present locally with a cherty component. This occurrence also features crosscutting, chalcopyrite-bearing veinlets. One sample was collected and assayed in 2025 that returned: 0.4% Cu, 2.8% Pb, 0.7% Zn, 0.3 g/t Au, and 217 g/t Ag (Table 1).
Figure 2: Bedrock geology and locations of showings sampled by Riverside with high grades of Ag, Zn, Pb, and Cu with the lines from historical Zinc-in-soil sample grid completed by Placer Dome Inc. Riverside integrating data to move toward drill targeting and potentially running ground geophysics.
The property is situated within the pericratonic Kootenay Terrane in the southeastern Cordillera, immediately outboard (west) of ancestral North America. This terrane is composed primarily of lower to mid-Paleozoic sedimentary and volcanic rocks and is correlative with the productive Yukon-Tanana Terrane in Alaska and the Yukon Territory. More specifically, the area is underlain by Lower Cambrian to Mississippian deformed and metamorphosed sedimentary and volcanic rocks of the Eagle Bay Assemblage. The assemblage has been intruded by the Upper Devonian to Permian felsic Raft and Baldy batholiths. Devonian to Permian mafic volcanic and intrusive rocks of the Fennell Formation have been thrust over the western part of the assemblage. Government mapping shows the property to be underlain by the “EBQ” unit of the Eagle Bay Assemblage, possibly of Lower Cambrian age. The Eagle Bay is the assemblage that hosts Taseko Mines’ copper reserves and feasibility-staged property at Yellowhead. Eagle Bay has been a mining target and productive geologic VMS unit and Riverside has targeted this unit and specific horizons for this mineral option acquisition. The mineral occurrences on adjacent or nearby properties within the Eagle Bay Assemblage may not be reflected on the Company controlled properties. Further exploration work will continue during H1 of 2026 on the Company property.
Regional VMS Context
VMS deposits are abundant within the Eagle Bay Assemblage and adjacent rocks:
The Chu Chua Cyprus-type deposit occurs in the nearby Fennell Formation and has an inferred mineral resource of 2.29 Mt @ 2.11% Cu, 0.30% Zn, 9.99 g/t Ag and 0.50 g/t Au.1
Samatosum is a stockwork zone mined by Inmet Mining between 1989 and 1992; the deposit totaled 0.63 Mt grading 1035 g/t Ag, 1.2% Cu, 1.7% Pb, 3.6% Zn and 1.9 g/t Au.2
The Rea deposit contains two massive sulphide lenses with a combined resource of 0.38 Mt @ 0.33% Cu, 2.2% Pb, 2.3% Zn, 6.1 g/t Au and 69.4 g/t Ag.3
The Homestake deposit is largely contained in barite lenses, with estimated resources in 1973 of 1.01 Mt @ 240 g/t Ag, 2.5% Pb, 4.0% Zn, and 0.55% Cu.4
The Harper Creek metamorphosed VMS deposit (817 Mt @ 0.28% Cu, 0.03 g/t Au and 1.3 g/t Ag) is located in the Eagle Bay Assemblage approximately 15 km southeast of the property and known as the Yellowhead.5
The Property has seen intermittent exploration and was examined by two major companies, INCO and Placer Dome Inc. INCO undertook geological mapping, soil sampling, ground magnetometer and limited VLF surveying in 1977; this was their only program on the Property. Placer completed extensive soil geochemistry and lesser EM, magnetics and geological mapping from 1983 to 1989. They drilled four short holes but recommended drilling an additional 13 holes which were never drilled. Other work on the Property over the years has not been systematic. The Property is considered under-explored and ready for progressing work, particularly with the recent logging that has increased the access and exposures.
The Harper Creek deposit, 10 km to the southeast, is part of the Eagle Bay Formation’s metavolcanic and metasedimentary rocks. Geologically, it lies on the western margin of the Omineca Belt within the Kootenay Terrane. The mineralization is found within tabular zones in various phyllites and quartzites, including quartz-sericite, chloritic, carbonaceous phyllite, and sericitic quartzite. Mineralization occurs as disseminations and patches along rock foliations, and within quartz and quartz-carbonate veins. It is associated with minor sphalerite, galena, arsenopyrite, molybdenite, tetrahedrite-tennantite, bornite, and cubanite, with occurrences of magnetite.
The Harper Creek Fault separates the deposit into east and west domains. The west domain’s mineralization is hosted within three horizons of volcanic and volcaniclastic units. Mineral Reserves: According to a January 2020 NI 43-101 Taseko Mines technical report, the proven and probable mineral reserves are estimated at 817 million tonnes at a 0.17% copper cut-off grade. The average grades are: Copper (Cu): 0.28%; Gold (Au): 0.030 g/t; Silver (Ag): 1.3 g/t. The project is planned as a large open-pit mine with a 25-year life and a processing capacity of 90,000 tonnes of ore per day. Further technical specifications are available in the Technical Report on the Mineral Reserve Update at the Yellowhead Copper Project on the Taseko Mines website.
Figure 3: Schematic North – South Cross section of the North Thompson River valley showing the relationship between the Red Jacket (north side) and Harper Creek Deposit (southern side near the Baldy Batholith).
Qualified Person & QA/QC: Sample preparation was completed at ACT Labs located in Kamloops, British Columbia. ACT Labs is ISO/IEC 17025:2017 and ISO 9001:2015 certified laboratory. The “1A2-ICP fire assay” and “1E3 aqua regia” analytical protocols were used on the assay samples. Elements of interest obtained by this method include silver, copper, molybdenum, lead and zinc, amongst others. Aqua regia ICP-OES” refers to a two-step analytical technique used to dissolve solid samples using aqua regia and then analyze the resulting liquid for its elemental composition using Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES).
The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Capital Markets
Riverside has engaged Horizon Capital Markets Corp. (the “Service Provider“), a Vancouver-based investor relations consulting firm, to provide investor relations services to the Company. The Service Provider and its principal, Eric Negraeff, hold an interest, directly or indirectly, in common shares of the Company and may have an interest in participating in future equity financing or acquiring additional securities through market purchases. The engagement is for a minimum of six months commencing on January 15, 2026, with the Service Provider acting as part-time investor relations provider. The Service Provider will be paid a fee of $3,500 per month. The Service Provider and the Company are unrelated and unaffiliated entities save for the securities holdings of the Service Provider. In connection with the Listing, the engagement of the Service Provider will be subject to the approval of the Exchange.
About Riverside Resources Inc.: Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a solid balance sheet with over $6,000,000 cash, no debt and tight share structure with a strong portfolio of gold-silver and copper assets and royalties in North America. Further information about Riverside is available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”, “estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.
References:
1. https://newport-exploration.com/wp-content/uploads/2022/01/Newport_ChuChua_2021_NI43-101.pdf 2. Samatosum is a past producing polymetallic volcanogenic massive sulphide deposit located approximately 60 km northeast of Kamloops, British Columbia, Canada. Historical production records indicate that approximately 0.63 Mt of ore were mined between 1989 and 1992 grading 1,035 g/t Ag, 1.2% Cu, 1.7% Pb, 3.6% Zn and 1.9 g/t Au (British Columbia MINFILE No. 082M 244). This historical information is provided for background purposes only and the issuer has not independently verified the data. https://minfile.gov.bc.ca/summary.aspx?minfilno=082M++244 3. The Rea deposit resource of approximately 0.38 Mt grading 0.33% Cu, 2.2% Pb, 2.3% Zn, 6.1 g/t Au and 69.4 g/t Ag is considered a historical estimate reported by Sean Bailey, Suzanne Paradis and Stephen Johnston, 2000, Geological Survey of Canada Current Research 2000-A, and has not been verified by the current Qualified Person; it does not conform to current CIM (2014) Definition Standards and is not being treated as a current mineral resource. https://publications.gc.ca/collections/Collection-R/GSC-CGC/M44-2000/M44-2000-A15E.pdf 4. The Homestake deposit hosts a historical estimate of 1.01 million tonnes grading 240 g/t Ag, 2.5% Pb, 4.0% Zn, and 0.55% Cu, as reported by Kamad Silver Co. Ltd. in 1973. The mineralization is described as largely contained in barite lenses within the Eagle Bay Assemblage. The reader is cautioned that this estimate is historical in nature and does not comply with NI 43-101standards. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. https://minfile.gov.bc.ca/Summary.aspx?minfilno=082M++025 5. NI 43-101 Technical Report can be found on www.sedarplus.ca under Taseko Mines Limited July 10, 2025.
New full-scale sample prep facility to be co-branded “Scout Analytical, Powered by Paragon” with funding and operations handled by Paragon.
Local prep, faster assays at scale: this facility bolsters Scout’s current sample preparation capabilities in Coeur d’Alene, further removing shipping and long queue bottlenecks.
Preferred rates + priority lanes: The facility is open to all third parties, Paragon will provide preferred rates and Tier‑1 priority processing for Scout and its partners.
Scout Analytical paired with Paragon’s PhotonAssay™ capabilities will enable assay turnaround in days instead of weeks, a paradigm shift in exploration speed.
Coeur d’Alene, Idaho – January 20, 2026 – Scout Discoveries Corp. (“Scout” or “the Company”) has executed a strategic partnership with Paragon Advanced Labs Inc. (through Paragon Geochemical Laboratories Inc.) to establish a sample preparation facility at Scout’s northern operations hub in Coeur d’Alene, Idaho, co-branded “Scout Analytical, Powered by Paragon.” The facility integrates local sample preparation with Paragon’s ISO-certified analytical capabilities including a Chrysos PhotonAssay™ network to compress assay turnaround time and materially improve efficiency across Scout’s exploration programs.
A New Standard for Exploration SpeedThe partnership integrates Scout’s exploration team, robust drilling fleet, and Idaho-based infrastructure with Paragon’s industry-leading geochemical expertise, fire assay and network of Chrysos PhotonAssay™ technology. By establishing localized sample preparation at Scout’s northern operations hub, this partnership removes the logistical bottlenecks that have traditionally hindered exploration progress in the emerging Idaho Copper Belt and adjacent Silver Valley, enabling faster and more efficient project advancement. With Paragon’s ISO-certified analytics now built into Scout, the entire exploration process – including targeting, drilling, logging, core imaging, processing, and assaying – is available to Scout and its partners in a single package.
Key Highlights of the PartnershipFully Vertically Integrated: Adding another crucial element to Scout’s vertically integrated model, enabling Scout and its partners to benefit from a seamless workflow, from drilling through to high-precision, independently validated assay results.Priority Processing: Samples from Scout’s exploration projects, along with its partner’s projects, will receive Tier-1 priority at the Coeur d’Alene facility, along with access to Scout’s core processing ensuring rapid data-driven drilling adjustments.Technology-First Approach: The facility will feature advanced Orbis crushing and pulverizing systems, with specialized workflows optimized for PhotonAssay™ — the fastest, most sustainable gold analysis method in the industry.Assay Credits: Scout will receive assay credits equal to the sale amount of its currently operated Orbis OM50WM crusher and pulverizer being transferred to Paragon for use in the new prep facility.Expansion into Nevada: The agreement includes provisions for Scout to assist Paragon in establishing a reciprocal core-processing facility in Sparks, NV, further expanding the partnership’s geographic footprint and expanding the Paragon facility in Sparks to include core-cutting services.
“This partnership is exactly the kind of strategic move that defines Scout’s approach to vertical integration of the discovery process,” said Dr. Curtis Johnson, President & CEO of Scout. “By bringing Paragon’s world-class lab capabilities and standards directly into our operations, we are not just improving efficiency, we are fundamentally changing the pace of exploration for our own projects and for our partners, by cutting weeks off the assay turnaround time. In a competitive market, speed is our greatest asset.”
Peter Shippen, CEO of Paragon added: “Paragon is committed to being where the discovery action is. Coeur d’Alene is a premier mining jurisdiction, and partnering with Scout—a leader in US exploration—allows us to deploy our ‘Powered by Paragon’ model in a way that benefits the entire regional mining community.”
The Coeur d’Alene facility is expected to be fully operational by Q1 2026 for Scout and its partners, Paragon, customers, and all third parties – coinciding with the launch of the spring drilling season.
About ParagonParagon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry. By embracing new technology, the Company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay™ technology and complementary analytical solutions. The Company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.
About Scout Discoveries Corp.Scout Discoveries Corp., headquartered in Coeur d’Alene, Idaho, is a private U.S. mineral exploration company with rights to twelve separate precious and base metal projects in the western U.S.A., comprising one of the largest unpatented claim holdings in the region, totaling over 50,000 acres. Scout’s vision is to bring the full discovery process in-house from idea generation through resource drilling, lowering costs and increasing efficiency. With this model, the Company can rapidly advance its project portfolio through discovery by leveraging its five internal core drill rigs and experienced technical teams.For further information, visit: https://www.scoutdiscoveries.com/
Collaboration Establishes Framework to Expand Platform Growth
AUSTIN, TX AND SAUSALITO, CA / ACCESS Newswire / January 20, 2026 / Integrous Communications, an independent communications and investor relations consulting firm, and The Main Stage, a SaaS-based investor experience platform redefining how companies present, manage, and measure investor communications in the digital age, today announced that the parties have entered into a Memorandum of Understanding (MOU) outlining a strategic collaboration.
The collaboration is focused on accelerating The Main Stage’s platform adoption and supporting companies across the capital formation and public market lifecycle by replacing static, fragmented investor materials with secure, interactive, and data-driven investor experiences.
Under the terms of the MOU, the parties intend to align The Main Stage’s software platform – purpose-built to modernize investor communication workflows – with Integrous Communications’ capital markets advisory, investor relations, and strategic communications expertise. Together, the firms aim to help private and public companies improve how they tell their story, manage investor access, and gain measurable insight into investor engagement and behavior.
The collaboration is designed to support private companies preparing for institutional capital or public listings, as well as publicly listed issuers seeking to enhance transparency, consistency, and accountability in investor communications. By integrating disciplined messaging with a structured, analytics-enabled delivery environment, the parties seek to elevate the quality and effectiveness of investor interactions throughout the investment lifecycle.
The MOU establishes a framework for near-term operational collaboration while the parties evaluate longer-term strategic opportunities, including joint initiatives focused on platform scalability, market access, and technology-enabled advisory solutions. The agreement reflects a shared belief that investor communications must evolve beyond static pitch decks, PDFs, and disconnected data rooms to meet the expectations of modern investors.
The collaboration is expected to support The Main Stage’s continued product development and market expansion while enabling Integrous Communications to extend its advisory capabilities through software-driven solutions that deliver measurable engagement, improved investor readiness, and greater market confidence.
About The Main Stage
The Main Stage is a SaaS-based investor experience platform designed to replace static pitch decks and fragmented investor materials with secure, interactive, and measurable digital environments. The platform enables companies to centrally manage their investor narrative, financial disclosures, and supporting materials while giving investors a structured, transparent way to evaluate opportunities.
Unlike traditional investor engagement tools, The Main Stage provides persistent, audit-ready investor experiences that combine secure content delivery, real-time engagement analytics, and behavioral insights. Companies gain visibility into how investors interact with their materials – what is viewed, when, and for how long – enabling data-informed communication strategies and improved capital markets readiness.
Built with institutional-grade security and compliance in mind, The Main Stage includes secure document vaults, investor dashboards, engagement tracking, and communication workflows that support capital formation, due diligence, and ongoing investor relations. Advanced analytics and AI-driven insights help companies refine messaging, monitor engagement trends, and understand investor sentiment over time.
The Main Stage supports private companies, growth-stage enterprises, and publicly listed issuers by improving transparency, accountability, and the overall quality of investor communications. By transforming investor engagement into a measurable, technology-enabled process, The Main Stage helps companies move beyond static presentations to dynamic investor experiences aligned with modern market expectations.
Integrous Communications is an independent communications and investor relations consulting firm delivering a unified, strategic approach to financial communications, corporate governance, applied technology, and integrated corporate messaging. Headquartered in Austin, Texas, with a distributed team across North America, Integrous combines deep capital markets expertise with a nimble, client-centric advisory model.
The firm partners closely with management teams and boards to support complex communications initiatives, strengthen market readiness, and guide organizations through critical growth and transition phases. Integrous serves private companies preparing to access the public markets as well as publicly listed issuers across major exchanges.
With experience spanning the United States, Canada, Australia, and Europe, Integrous supports clients throughout the corporate lifecycle – from pre-listing preparation to ongoing investor relations, market communications, and stakeholder engagement. The firm helps organizations communicate with clarity, credibility, and strategic alignment across market cycles.
VANCOUVER, British Columbia, Jan. 19, 2026 (GLOBE NEWSWIRE) — Blue Jay Gold Corp. (“Blue Jay” or the “Company”), is pleased to provide an update on key corporate milestones achieved in 2025 and to outline its strategic priorities and planned milestones for 2026.
Following the completion of its spin-out (the “Spin-Out Transaction”) from Riverside Resources Inc. (“Riverside”) in May 2025, the Company completed two financings that not only enabled the acquisition of the Steller Gold Project (formerly, the Skukum Gold Project) (“Steller” or the “Steller Project”) in Yukon on September 29, 2025, but also facilitated the growth of its portfolio footprint of district scale gold projects in Ontario. This has provided Blue Jay with a substantial asset portfolio and a solid balance sheet as it enters 2026 as a new Canadian focused gold explorer.
With a clean capital structure, a strong shareholder base and a leadership team experienced in geology and capital markets, the Company is positioned to advance a balanced program of near mine and regional exploration on the Steller Project while continuing to unlock value across its Ontario portfolio. The Company is targeting a listing (the “Listing”) on the TSX Venture Exchange (the “Exchange”) later in Q1/2026.
The Company recognizes that it is still in the early stages of its lifecycle. Delivering on 2026 work programs, maintaining financial discipline and communicating transparently with stakeholders will be critical to building trust and creating long term value per share.
2026 Strategic Outlook and Key Objectives
Blue Jay’s strategy is expected to focus on four main themes:
Resource growth and discovery on the Steller Project;
Exploration and discovery on its Ontario gold portfolio;
Capital market and listing strategy; and
Corporate development and disciplined growth.
Steller Project – Yukon
Blue Jay plans to execute the first full year of Company-led work at Steller following its acquisition in September 2025. Steller hosts district-scale epithermal-hydrothermal gold-rich mineralization where we believe adoption of new methods and integrated exploration could lead to a transformative understanding of the scale and continuity across the project area. An initial focus will be on targeting the extent and continuity of envelopes of high-grade mineralized systems starting with the Skukum Creek structure corridor. This approach is expected to grow the footprint of known mineralized systems and help define priority drill targets through a phased program that includes detailed geologic review integrating new analytical methods, collection of new geophysical data, surface mapping and drilling.
Ontario Portfolio – Established Gold Camps
The Company will continue to advance exploration work on its portfolio of Ontario gold projects in the Beardmore-Geraldton and Wawa belts through disciplined, target focused programs. Blue Jay will prioritize work programs that refine targets and position these projects for future drilling.
Capital Markets and Listing Strategy
Blue Jay will continue the process required to advance the Company from an unlisted reporting issuer to a publicly listed issuer on the Exchange, subject to market conditions, regulatory approvals and board approvals. As part of this process, the Company intends to file a prospectus and a technical report in compliance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) later this January in support of its application for Listing. To maintain listing readiness, Blue Jay will continue to emphasize strong governance, financial reporting and technical disclosure as best practice. In parallel, the Company plans to expand investor outreach by participating in select conferences, virtual marketing initiatives and targeted meetings with investors in Canada, the United States and Europe.
Corporate Development and Disciplined Growth
The Company’s corporate development efforts are focused on growing the value of its existing asset base in Yukon and Ontario. The Company intends to systematically advance and de-risk its projects through focused technical work, staged drilling and selective studies that can support future development or partnership decisions. Capital will be deployed with discipline to programs that have a clear potential to enhance the value of Steller and the Ontario portfolio, while management continues to strengthen its technical, financial and advisory capabilities to support the next phases of growth.
2025 Recap and Key Achievements
2025 was a foundational year for Blue Jay that established the corporate, technical and financial platform for growth in 2026 and beyond.
Corporate Formation and Spin-out Transaction
In May 2025, completion of the Spin-Out Transaction established Blue Jay as a standalone Canadian gold exploration company focused on Canadian assets. The transaction provided Blue Jay with a portfolio of Ontario gold projects and an initial, long term-oriented shareholder base positioned to benefit from the Company’s growth and future milestones.
Strengthening the Balance Sheet
In May 2025, Blue Jay completed its seed financing, providing initial working capital to advance its Ontario portfolio and corporate development initiatives. In September 2025, the Company announced a non-brokered private placement of units priced at a premium to the seed round, designed to fund the Steller acquisition conditions, work programs and general corporate needs. Blue Jay closed the financing in October 2025, raising aggregate gross proceeds of approximately $5 million leaving the Company well-financed heading into 2026 and as it looks toward listing its shares during the first quarter of 2026.
Skukum Gold Project Acquisition – Building A Yukon Cornerstone
In June 2025, Blue Jay announced a binding share purchase agreement with Tincorp Metals Inc. for the acquisition of Whitehorse Gold (Yukon) Corp., which holds a 100 percent interest in the Steller Project. On September 29 2025, the Company closed the transaction, and Steller became Blue Jay’s cornerstone asset, adding a large, past producing, infrastructure-rich project into the portfolio. Steller provides a platform where Blue Jay can apply modern, systems-based exploration across a district scale land package where access and execution benefits from historical development, road access, proximity to Whitehorse and highway access to proximal port and rail infrastructure.
Ontario Portfolio – Continued Positioning in Proven Belts
Following the Spin-out Transaction, Blue Jay continued to mature its Ontario portfolio, which includes projects in an established greenstone gold belt with current and historic gold mine production. These assets remain an important part of Blue Jay’s discovery strategy, providing a pipeline of projects that complement Steller and offer optionality for future drilling.
Qualified Person & QA/QC The scientific and technical information contained in this news release has been reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Blue Jay, who is responsible for ensuring that the geological and technical information provided in this news release is accurate and who acts as a “qualified person” under NI 43-101.
About Blue Jay Gold Corp. Blue Jay Gold Corp. is a Canadian gold exploration company focused on growing and discovering resources within established brownfields regions in Canada. The Company has built a portfolio of projects in Canada in highly sought after Tier 1 mining jurisdictions. With our strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold will advance disciplined, modern exploration strategies across projects in known gold mineralized regions across Canada.
Certain statements in this press release contain forward-looking information. Forward-looking information involves risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Forward-looking statements contained in this press release may include, but are not limited to, use of proceeds, obtaining regulatory approval for the Listing, and future business plans of the Company. Such information involves known and unknown risks, including the receipt of regulatory approval, the results of future financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Blue Jay in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable securities laws and regulation, Blue Jay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Vancouver, British Columbia–(Newsfile Corp. – January 16, 2026) – Elemental Royalty Corporation (TSXV: ELE) (NASDAQ: ELE) (“Elemental” or the “Company”) is pleased to announce the execution of a definitive option and earn-in agreement (the “Agreement”) covering three exploration licenses in the Bor Mining District of Serbia to a wholly owned subsidiary of BHP Group Limited (“BHP”). The three exploration-stage projects are currently held by Elemental’s wholly owned Serbian subsidiary Magma Resources doo (“Magma”) and BHP will have the option to acquire Magma in exchange for cash payments and by satisfying work commitments. Elemental will retain 2% NSR royalties on the projects as well as other considerations (see discussion of Commercial Terms below).
The Projects nicely complement Elemental’s other royalty interests in the Bor District, which include the Brestovac, Brestovac West, and Jasikovo East-Durlan Potok properties (see Figure 1). Brestovac is one of Elemental’s flagship royalties, covering Zijin Mining Group Co., Ltd’s producing Čukaru Peki copper-gold mine and recently discovered Malka Golaja copper-gold deposit. Zijin has been rapidly expanding its Čukaru Peki operations, increasing capacity at its current mill while continuing to add infrastructure for the development of the “Lower Zone” porphyry copper-gold deposit. Zijin’s published mineral resources and reserves for Čukaru Peki have also continued to grow rapidly, as shown in Zijin’s recent annual reports. The Lenovac projects, included in the BHP Agreement, cover the extension of the geologic trend that hosts the Čukaru Peki and Malka Golaja copper-gold deposits to the south.
Commercial Terms Overview. (all terms in USD) Pursuant to the Agreement, BHP can acquire and retain a 100% interest in Magma and the Projects by satisfying each of the following conditions: (a) making a payment of $200,000 to the Company on the six-month anniversary of the Agreement, (b) annual payments of $200,000 to the Company on every anniversary of the Agreement until the earn-in is complete, and (c) completing $5,000,000 in cumulative exploration expenditures on the Projects within five years.
Upon BHP’s option exercise and earn-in, Elemental will retain a 2% NSR royalty interest on each Project. BHP may buy back up to a total of half a percent (0.5%) of the royalty in quarter percent (0.25%) increments; 0.25% can be purchased for $5,000,000 before the eighth anniversary of the agreement and 0.25% can be purchased for $5,000,000 before the 11th anniversary of the agreement. BHP will also make annual advance royalty payments of $200,000 to the Company until the commencement of commercial production.
Overview of the Projects. The Bor Mining District in eastern Serbia has been one of Europe’s largest copper producers for over a century, where historic and current mining operations have been developed within a cluster of porphyry Cu-Au, high-sulfidation epithermal and skarn systems (including Bor, Veliki Krivelj, Majdanpek and Čukaru Peki; see Figure 1). The Elemental projects (the “Projects”) were originally acquired in 2023 and 2024 and are positioned along trend of Zijin Mining’s Bor and Čukaru Peki operations. Although there are still near-surface deposits being identified in the area, several recent discoveries have been made at relatively deep levels (such as Zijin’s Čukaru Peki and Dundee Precious Metals’ Čoka Rakita deposits) and require deep drilling. BHP’s deep-sensing geophysical capabilities and existing regional interest make them an ideal exploration partner for the Projects.
Elemental has acquired over 150 square kilometres of mineral rights along trend of the major copper and gold deposits within the Bor Mining District (see Figure 1). Previous exploration in the Bor District has typically targeted Upper Cretaceous andesite units, which host the majority of the epithermal and porphyry systems at the Bor Copper Complex and Čukaru Peki mine. However, new discoveries such as Dundee Precious Metals’ Čoka Rakita skarn deposit highlights that the different geologic settings and older Jurassic and Paleozoic host rocks are also prospective for additional discoveries. The Elemental Projects include both the traditionally prospective Upper Cretaceous andesite units of the Timok Magmatic Complex, as well as deeper host rock packages where several recent discoveries have been made.
The Lenovac North and South licenses lie directly south of the Zijin’s Brestovac license, which hosts the Čukaru Peki and the recently discovered Malka Golaja copper-gold deposits. Elemental’s Lenovac licenses cover the southern extension of this trend where a regional fault displaces the trend of mineralization and favorable host rocks to the southwest. The licenses are largely comprised of prospective Cretaceous volcanic and sedimentary units with some areas of Miocene cover.
The Durlan Istok license is located to the southeast of Zijin’s Majdanpek porphyry copper-gold mine and east of Čoka Marin, a high-grade polymetallic volcanogenic/epithermal deposit. The Durlan Istok license contains the stratigraphic sections that hosts Čoka Marin and the Čoka Rakita skarn further to the southwest.
Comments on adjacent or nearby Districts, Mines, and Deposits. The districts, mines, and deposits discussed in this news release provide context for Elemental’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar tonnages or grades of mineralization.
North American Investor Relations Elemental has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities in North America. In consideration of the services to be provided, the monthly fees incurred by Elemental will be a cash consideration of up to C$9,000, starting January 1, 2026, for a period of seven months ending on July 31, 2026, and monthly thereafter. Renmark Financial Communications does not have any interest, directly or indirectly, in Elemental or its securities, or any right or intent to acquire such an interest.
About Elemental Royalty Corporation. Elemental Royalty is a new mid-tier, gold-focused streaming and royalty company with a globally diversified portfolio of 16 producing assets and more than 200 royalties, anchored by cornerstone assets and operated by world-class mining partners. Formed through the merger of Elemental Altus and EMX, the Company combines Elemental Altus’s track record of accretive royalty acquisitions with EMX’s strengths in royalty generation and disciplined growth. This complementary strategy delivers both immediate cash flow and long-term value creation, supported by a best-in-class asset base, diversified production, and sector-leading management expertise.
Elemental Royalty trades on the TSX Venture Exchange under the ticker symbol “ELE”, and on the NASDAQ Stock Market under the ticker symbol “ELE”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
Cautionary note regarding forward-looking statements This news release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology.
Forward-looking statements and information include, but are not limited to, the Company’s ability to deliver a materially increased revenue profile with a lower cost of capital, the future growth, development and focus of the Company, and the acquisition of new royalties and streams. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Elemental Royalty to control or predict, that may cause Elemental Royalty’ actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the impact of general business and economic conditions, the absence of control over the mining operations from which Elemental Royalty will receive royalties, risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits;; the possibility that future exploration, development or mining results will not be consistent with Elemental Royalty’ expectations; accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Elemental Royalty for the year ended December 31, 2024. Elemental Royalty undertakes no obligation to update forward-looking statements and information except as required by applicable law. Such forward-looking statements and information represents management’s best judgment based on information currently available. No forward-looking statement or information can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Figure 1. Elemental Royalty interests and projects in the Bor Mining District of Serbia.
This Phase I drill program represents the first drilling at Cuddy Mountain in over 40 years.
Scout commenced drilling at Cuddy Mountain in late fall with permits allowing for continued drilling through fall 2026 – with the private placement closed updates can now be issued.
One internally operated core drill is focused on testing high-priority targets at the Climax zone through winter with two holes completed to target depth and the third ongoing.
Drilling will progress to the IXL and Railroad targets with additional rigs added as results warrant; assays to be released when enough holes comprise a complete test of the target.
Coeur d’Alene, Idaho – January 15, 2026 – Scout Discoveries Corp. (“Scout” or the “Company”) is pleased to announce that drilling commenced at the Cuddy Mountain Project in late fall 2025 using one of the Company’s wholly owned drill rigs. This work is part of Scout’s planned Phase I core drilling program of up to 10,000 meters, detailed in the April 9th, 2025 news release. With the recent closing of Scout’s private placement (see January 5th, 2026 news release), the Company is now positioned to provide material updates on the drill program and other corporate developments.The ongoing Phase I drill program marks the first drilling at Cuddy Mountain in over 40 years. Drilling began at the Climax target (Figures 1 & 2) and will continue through the winter. Two completed holes and a third underway beneath the strong molybdenum soil anomaly at Climax shows it is a separate porphyry center from IXL. Assays are pending on both completed holes. Drill core observations reveal multiple porphyry intrusions, high-temperature alteration, and abundant sulfide-rich veins of varying generations ranging from early biotite halo, banded quartz molybdenite, magnetite, and sericite-chlorite-pyrite-(chalcopyrite) veins that are consistent with porphyry copper-molybdenum systems. Drilling will continue through the winter to vector toward inferred higher-temperature mineralization zones based on zoning observed to date.As snow melts in the spring, the Company plans to transition drilling to the IXL and Railroad targets while continuing work at Climax (Figures 1 & 2). Scout retains the flexibility to deploy additional rigs from its fleet of five surface core drills, should results warrant expanded drilling.
Curtis Johnson, Scout’s President and CEO commented, “The drill targets at Climax and IXL, including historic intercepts of 177 meters @ 0.34% Cu from surface with 40 meters @ 0.78% Cu, represent some of the most compelling near-surface porphyry targets in the broader Cuddy Mountain-Hercules mineral belt. This belt is emerging as the most significant new porphyry copper district discovered in the United States in well over 50 years. We look forward to utilizing our internally owned drills throughout 2026 to efficiently deploy shareholder capital and understand the full potential of the Cuddy Mountain project.”
Climax Target – Geologic Summary of Drilling to Date
The Climax area has emerged as one of the most compelling untested targets on the Cuddy Mountain project, having not been identified as a porphyry copper target prior to Scout’s 2024-2025 work programs. The Company utilized systematic geologic mapping, soil and rock geochemistry, and geophysics to guide drill targeting. Climax delivered impressive coincident IP, magnetic, and copper/molybdenum in soil anomalies in an area with newly discovered stockwork quartz-sulfide veining and multiple phases of porphyry dikes (Figures 1, 2, 3, and 4).
Drilling and Geology
Initial drilling of two variably oriented holes with a third ongoing, totaling 1,100 meters focused on testing the highest-magnitude portions of the molybdenum-in-soil anomaly (Figure 2) in multiple orientations. Drilling encountered poor ground conditions in highly faulted and fractured rock that necessitated short drill runs and persistent hole conditioning to maintain recovery and production.
The two completed drill holes (CM-25-001, 002) confirm the occurrence of multiple phases of intermediate to late-mineral quartz-feldspar porphyry dikes (Figure 5) exhibiting diverse degrees of sericite-chlorite alteration. These dikes intrude the adjacent andesitic volcanic, volcaniclastic, and carbonate wall rocks, which display a high abundance of sulfide-rich veins and mineralization with sericite-chlorite, potassic, and skarn alteration (Figure 5A-E). Multiple phases of porphyry intrusions and widespread sulfide-rich veining at Cuddy are consistent with many productive copper deposits. The observation that more high-temperature veins occur in wall rock than in drill-intersected intrusions suggests that early-mineral intrusions linked to copper-molybdenum mineralization are sourced at deeper levels or lateral to areas drilled.
Alteration patterns observed in drilling further reinforce the presence of a productive porphyry system at Climax. Magnetite-chlorite-sericite-pyrite alteration is pervasive throughout the volcanic wall rocks, while widespread epidote-garnet-magnetite-(pyrite-chalcopyrite) alteration affects both the volcanics, interbedded limestone, and segments of the porphyry intrusions, indicating strong and extensive hydrothermal fluid flow. Pyrite content ranges between 1-5% (up to 10%) with subordinate chalcopyrite present throughout the volcanics. Sulfide distribution correlates well with the intensity of the chargeability anomaly (Figure 4). Notably, banded quartz-molybdenite veins – hallmark features of porphyry systems – are present in all holes, reaching up to 1% by volume explaining the strong molybdenum soil anomaly (Figure 5A). This is complemented by biotite-selvage (“early halo type”) veins, garnet skarn, sericite selvages around pyrite-quartz veins, and trace to moderate chalcopyrite and native copper on fracture surfaces – all proximal indicators of porphyry systems.
Take-Aways and Future Drilling
Assays have not yet been received from the drilling completed to date, however, interpretation of geologic logging in the initial 1,100 meters of drilling confirms the presence of stockwork quartz veins, early halo veins, minor chalcopyrite with abundant pyrite, and banded quartz-molybdenite veins – classic indicators of proximal portions of a porphyry copper system (Figure 5B, G, H). The identification of molybdenum-rich veins, often found outboard of the high-copper shell in porphyry systems, suggests that current drilling may have intercepted a high-molybdenum shell adjacent to the center of the Climax porphyry system(s). Abundant sericite-chlorite alteration suggests drilling to date tested flanking or upper levels of the system. Increasing chalcopyrite-to-pyrite ratios in core toward areas with the highest-magnitude copper-in-soil (up to 0.2% copper) and molybdenum-in-soil values provide compelling evidence for potentially stronger mineralization in future holes.
IXL Porphyry Copper System – The Next Target to be DrilledThe IXL target contains a known outcropping of a Triassic porphyry copper-molybdenum system, where historic exploration work at Cuddy Mountain began in the 1950s. Mineralization is dominated by potassic alteration (secondary biotite, K-feldspar) associated with stockwork quartz-chalcopyrite-molybdenite veins and disseminated chalcopyrite, along with local mineralized breccias. A multi-kilometer copper and molybdenum-in-soil anomaly (Figure 2) coupled with strong chargeability highs outline a major porphyry system, which is what the Company believes lies concealed in the Climax target area. Recent detailed geologic mapping by Scout at IXL outlined a much broader area of “shreddy” secondary biotite (potassic) alteration containing copper than was previously recognized due to overprinting low-temperature chlorite alteration of biotite that prior operators interpreted as distal propylitic alteration unrelated to copper mineralization (Figure 1).Approximately 2,500 meters of shallow historical drilling was carried out by multiple operators at IXL in the 1950s to 1970s, with no known drilling completed since. As shown in the sections linked below, the majority of the newly identified soil and chargeability anomalies are poorly tested or untested by previous efforts. Most shallow holes in the IXL region intercepted broad zones of 0.1-0.3% Cu with associated molybdenite and no precious metals assays. The best historic interval is from hole AX-1, which intercepted from surface, 177 meters @ 0.34% Cu including 40 meters @ 0.78% Cu on the margin of a chargeability high. An underground adit was driven to explore this higher-grade sub-interval in the 1960s, which uncovered a mineralized breccia zone coring the potassic alteration with several underground holes identifying strong primary sulfide mineralization including 35 meters @ 1.23% Cu. Scout looks forward to testing these zones to depth and along strike in 2026.Refer to the following links for planned drill sections through the IXL target area showing geology, chargeability, and resistivity: IXL Target Geology, IXL Target Chargeability, IXL Target Resistivity.
Railroad Porphyry-Skarn TargetSimilar to the Climax target, the Railroad area has emerged as a compelling concealed target and potential third preserved porphyry center on the project following systematic exploration work by the Scout team. High-grade copper skarn mineralization was previously known in the area; however, detailed mapping has outlined a series of parallel, stacked skarn zones associated with mineralized porphyry dikes offering the potential for bulk tonnage copper mineralization at depth (Figure 1). Strong magnetic and chargeability anomalies at depth (Figure 2) further suggest potential for concealed porphyry style mineralization, which along with near surface skarn mineralization, will be the focus of exploration drilling in the target area in 2026-2027.Refer to the following links for sections through the Railroad target showing geology, chargeability, and resistivity: Railroad Target Geology, Railroad Target Chargeability, Railroad Target Resistivity.
About the Cuddy Mountain ProjectThe Cuddy Mountain Project is a porphyry copper-molybdenum (gold) project within the broader western Idaho copper belt. Scout identified the property as having potential in 2020 and acquired it through staking of open ground in 2021, prior to the discovery of the Leviathan porphyry on the adjacent Hercules property in 2023. Since that time, the Company has systematically advanced the large 12 square kilometer outcropping porphyry targets through detailed geologic mapping, surface geochemistry, geophysics and now the phase I drill program described herein.
About Scout Discoveries Corp.Scout Discoveries Corp., headquartered in Coeur d’Alene, Idaho, is a private U.S. mineral exploration company with rights to twelve separate precious and base metal projects in the western U.S.A., comprising one of the largest unpatented claim holdings in the region, totaling over 50,000 acres. Scout’s vision is to bring the full discovery process in-house from idea generation through resource drilling, lowering costs and increasing efficiency. With this model, the Company can rapidly advance its project portfolio through discovery by leveraging its five internal core drill rigs and experienced technical teams.For further information, visit: https://www.scoutdiscoveries.com/
On January 7th, 1839 the first primary silver mine in the US opened. Named Silver Hill the mine is located in Davidson County in central North Carolina. The mine has a fascinating history and back story.
Efforts have been made over the years to reopen the mine, however, low prices have prevented success. With gold near $4600 and silver at $85 an ounce the economics have changed.
The Silver Hill mine is now controlled by a tiny Canadian junior named Metalsource Mining (MSM-C). In 2023 SRK was asked to provide a historic estimate for Silver Hill called a mineral inventory showing 347,422 tonnes worth about $513 in metal in the ground at today’s prices.
(Click on image to enlarge)
Metalsource Mining took out an option to purchase 100% of Silver Hill and a companion project called the Byrd-Pilot Mountain Project in September of 2025. The agreement called for cash of $250,000, exploration of $1 million and issuance of 15 million shares over time.
The Byrd-Pilot property consists of about 1,032 acres and is located in central North Carolina in Randolph County. Work by the USGS back in the 1980s revealed the potential for a gold-copper porphyry system. No drilling has taken place since the 1980s.
Management of MSM hit the ground running surfing higher with the increasing prices for gold and copper. At the time of the option agreement the shares were about $.20. The news rocketed the shares up to $.56 by mid-October before plunging to $.30 a month ago.
As soon as the agreement was signed, management of MSM got in touch with Eric Sprott who signed up for a lead order of $1 million in a $4 million private placement. Eric Sprott happens to be a giant fan of silver. They also hired Tom Kleeberg formerly founder and executive for the Haile Gold Mine. Tom actually had direct operational experience at Silver Hill.
MSM penned an agreement with Boart Longyear to begin a 2,000-meter core drill program at Silver Hill and Byrd-Pilot in early December. The drill plan is to combine validation drilling of historic mineralization at Byrd-Pilot along with targeting resource expansion at Silver Hill. At the same time Durango Geophysics is conducting a Magnetotelluric (MT) survey on both projects.
Metalsource did a further private placement with Eric Sprott in late December for an additional $1 million at $.30 with a half warrant at $.40 good for two years. As of the time of the placement the company had completed hole four at Silver Hill. On the 2nd of January the company announced they were expanding the drill program at Silver Hill to a total of 1,400 meters of core drilling. It’s the quiet time of the year for the assay labs so look for assays to come back from ALS for the first four holes shortly. Metalsource intends to drill an additional four to six holes at Byrd-Pilot once the program is complete at Silver Hill.
Investors in Metalsource woke up about the same moment investors woke up in silver metal. The shares have gone from $.40 at the time of the last placement to a high of $1.05 as I write.
This is going to be an interesting story. Eric Sprott is probably the smartest mining whale in Canada. He gets in early and looks for 1000% returns and finds them a lot.
Metalsource contacted me to advertise. I wasn’t quick enough or smart enough to jump on some shares but they pay me for advertising so I am biased. Do your own due diligence. It would be well worth your time to wander through the presentation. It is an excellent example of clarity in communication of a complex subject.
