Announcement • Jul 08

Loyalist Exploration Limited Announces Updated 2026 Mineral Resource Estimate At the Tully Gold Project

Loyalist Exploration Limited announced significantly updated independent Mineral Resource Estimates for its 100%-owned Tully Gold Project, located in the Timmins Gold Camp of northeastern Ontario. The 2026 Mineral Resource Estimate substantially increases geological confidence while defining a larger, more continuous underground gold system that strengthens the Project's pathway toward future engineering and economic studies. The updated geological interpretation also confirms that mineralization remains open along strike and at depth, highlighting significant potential for future expansion through additional drilling. The effective date of the Mineral Resource Estimate is June 15, 2026. Indicated Mineral Resource Estimate: 1.62 million tonnes grading 3.16 g/t gold, containing 164,000 ounces of gold, representing approximately 73% of total contained gold ounces, that makes up approximately 15% of the known tuff unit volume. Inferred Mineral Resource Estimate: 0.95 million tonnes grading 2.03 g/t gold, containing 62,000 ounces of gold. Approximately 73% of contained gold ounces classified as Indicated, materially increasing geological confidence and providing a strong foundation for future engineering and economic studies. Modern geological modelling defines a larger and more continuous underground gold system than previously recognized. Improved geometry supports underground stopes potentially approaching 20 metres in width, enhancing future mine planning flexibility. Mineralization remains open along strike and at depth, providing multiple opportunities for expansion through additional drilling. Located in the Timmins Gold Camp, the Project benefits from excellent infrastructure, nearby processing facilities and access to a highly experienced mining workforce. Updated grade estimation methodology and comprehensive model validation further increase confidence in the Indicated and Inferred Mineral Resource Estimate and support advancement toward a Preliminary Economic Assessment. The 2026 Mineral Resource Estimate reflects a comprehensive re-evaluation of the Tully Gold Project using modern geological modelling, updated grade estimation techniques and an improved understanding of the mineralized Mafic Tuff host unit. The revised geological interpretation defines a larger, more continuous underground gold system and provides a substantially stronger technical foundation for future exploration, engineering and economic studies. The updated Mineral Resource Estimate includes an Indicated Mineral Resource Estimate of 1.62 million tonnes grading 3.16 g/t gold containing 164,000 ounces of gold and an Inferred Mineral Resource Estimate of 0.95 million tonnes grading 2.03 g/t gold containing 62,000 ounces of gold. Approximately 73% of the contained gold ounces are classified as Indicated Mineral Resources, reflecting increased geological confidence and establishing a solid foundation for advancing the Project toward engineering studies and future economic evaluation. The updated geological interpretation also defines broader and more continuous mineralized domains that are better suited to underground mining. Compared with earlier Mineral Resource Estimate models, the revised interpretation produces smoother mineralized envelopes that may support underground stopes potentially approaching 20 metres in width, enhancing development flexibility while highlighting the potential for future Mineral Resource growth through systematic drilling along strike and at depth. The 2026 Indicated and Inferred Mineral Resource Estimate for the Tully Gold Project was independently prepared by P&E Mining Consultants Inc. in accordance with NI 43-101 and CIM Definition Standards for Mineral Resources & Mineral Reserves (May 2014). The Mineral Resource Estimate reflects a comprehensive geological reinterpretation of the Project supported by modern Mineral Resource modelling and grade estimation practices. The updated Indicated and Inferred Mineral Resource Estimate incorporates updated geological wireframes, refined mineralized domains, one-metre compositing, domain-specific grade capping, Inverse Distance Cubed (ID³) interpolation, and comprehensive model validation. Together, these improvements provide a robust representation of the geometry and continuity of the Tully gold system while supporting future Mineral Resource expansion and underground mine planning. The 2026 Mineral Resource Estimate was completed using current industry-standard geological modelling and grade estimation practices that provide a more accurate representation of the geometry, continuity, and distribution of gold mineralization than earlier Mineral Resource estimates. P&E Mining Consultants Inc. developed an updated three-dimensional geological model based on a comprehensive reinterpretation of the mineralized Mafic Tuff and associated stockwork zones. This modern geological framework forms the basis of the Mineral Resource Estimate and more accurately reflects the continuity of the Project.

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Loyalist Exploration Limited Announces Updated 2026 Mineral Resource Estimate At the Tully Gold Project

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