Announcement • Jul 13
Stardust Metal Corp. Commences Two Drill Programs At Mcgarry Project In Kirkland Lake Stardust Metal Corp. announced that two drill programs are commencing at its McGarry Project in Kirkland Lake, Ontario. A near-surface drill campaign begins in early August, followed by drilling of the Company’s large geophysical target at depth upon completion of the ANT survey. McGarry occupies multiple strategic positions along the Cadillac Break immediately contiguous with Cadillac Mines Corporation’s Kerr-Addison Project. The historic Kerr-Addison Mine produced more than 11 million ounces of gold at an average grade of approximately 9.1 g/t Au, and recent drilling by Cadillac Mines has outlined broad zones of shallow gold mineralization adjacent to Stardust’s property boundary, highlighting the potential for the mineralized system to continue onto the McGarry Project. During recent geological mapping and field reconnaissance, Stardust's technical team identified extensive carbonate-altered ultramafic rocks across several areas of the property. These observations, together with historical drilling and recent results from the adjacent Kerr-Addison Project, prompted the Company to expand its 2026 exploration program to include a dedicated shallow drill campaign in addition to the previously announced deep exploration initiative. The first phase of the Company's exploration program is expected to commence in early August and will focus on evaluating several shallow gold targets distributed along both the Cadillac Break and the Armistice Fault. Recent drilling by Cadillac Mines has demonstrated broad zones of shallow mineralization immediately north of the McGarry property, while historical mining and drilling on McGarry confirm the presence of multiple shallow gold occurrences that remain largely untested using modern exploration concepts. The shared boundary, common geology and proximity of established infrastructure also create the potential for operational synergies between the two projects as they advance. Three priority target areas have been identified for the initial drill campaign. Drilling will test the eastern and western strike extensions of the historical Barber-Larder open pit, where historical mining outlined shallow gold mineralization averaging approximately 4.1 g/t Au that remains open in both directions. The program is designed to determine whether the mineralized trend extends beyond the limits of previous mining, evaluate its potential for expansion as a near-surface open-pit target, and establish the continuity of the mineralized system between the Barber-Larder and McGarry deposits both along strike and at depth. The Barber-Larder and McGarry deposits share many of the same geological characteristics. Both are hosted within steeply dipping, strongly altered volcanic and sedimentary rocks, with gold mineralization closely associated with carbonate alteration and quartz veining. Importantly, both systems demonstrate significant vertical continuity. While mining at Barber-Larder was limited to shallow depths, historical drilling has intersected gold mineralization to at least 600 metres vertically. Similarly, underground drilling at McGarry has confirmed gold mineralization to depths of approximately 5,600 feet (1,700 metres). The Company believes these similarities support the potential for a continuous mineralized system extending between the two areas. The Eastern Boundary Target is a highly prospective intrusion-hosted gold target located immediately adjacent to Cadillac Mines' Kerr-Addison Project. Geological mapping indicates strong similarities to the Kerr-Addison deposit, with mineralization hosted within altered diorite and gabbro dykes emplaced along the Cadillac-Larder Lake Break. Gold mineralization is associated with intense quartz-carbonate veining, carbonate alteration and pyrite-bearing quartz-calcite stringers, consistent with the geological setting of the adjacent Kerr-Addison system. Recent drilling by Cadillac Mines has outlined broad zones of shallow gold mineralization immediately north of the McGarry property boundary. Stardust's drilling is designed to determine whether this shallow mineralized system continues southward onto the McGarry Project and to evaluate the continuity of the broader Kerr-Addison gold system across the shared property boundary. The Armistice Fault represents one of the least explored structural corridors on the McGarry Project and is interpreted to be an important control on the westward and down-plunge continuation of the Kerr-Addison gold system. The structure marks a major geological boundary where favourable host rocks and mineralized structures may be repeated, displaced or preserved beneath limited historical drilling. The planned drilling will evaluate the potential for near-surface gold mineralization while also testing strike and down-dip extensions of known mineralization along the southwest segment of the Armistice Structure. The target remains open in multiple directions and provides an independent exploration opportunity that is complementary to, but distinct from, the Company's deep MT anomaly. Collectively, the shallow drill program is designed to evaluate the potential for near-surface mineralization across multiple targets while testing several kilometres of prospective strike length along both the Cadillac Break and the Armistice Fault. Beyond the shallow drilling program, McGarry also hosts significant underground exploration potential. The property is located immediately along strike from the Kerr-Addison Mine and contains numerous historical underground workings together with several zones of known gold mineralization that remain open. Underground drilling at McGarry has confirmed gold mineralization to depths of approximately 1,700 metres, and the existing geological database indicates the potential for continued mineralization within the same favourable geological package that hosts the Kerr-Addison deposit. The Company believes success from the shallow drill program could complement longer-term underground exploration by demonstrating the continuity of the mineralized system from surface while supporting future evaluation of deeper targets. Stardust has commenced an Ambient Noise Tomography survey designed to refine the Company's large district-scale deep magnetotelluric anomaly. Interpretation is expected in late August and will be used to prioritize deep drill targets. ANT is a passive seismic technique that records naturally occurring background vibrations using an array of geophones to generate a three-dimensional velocity model of the subsurface. At McGarry, the survey is designed to define the geometry of the sedimentary basin and accurately constrain the depth and shape of the large conductive anomaly previously identified through magnetotelluric and deep induced-polarization surveys. The anomaly extends from approximately 250 metres to greater than 1,000 metres below surface. Announcement • Jul 06
Stardust Metal Updates on Drilling and Exploration Plans Along the Cadillac Break Stardust Metal Corp. provided a mid-year update on its 2026 work program, with all major initiatives progressing on schedule across its flagship McGarry, Omega and Kirkland West projects located on the prolific Cadillac Break in Kirkland Lake, Ontario, alongside Barrick, Agnico Eagle and Pierre Lassonde's Cadillac Mines. Since outlining its exploration strategy earlier this year, the Company has advanced each of its key technical and corporate objectives, positioning Stardust for a catalyst-rich second half of 2026 McGarry -- Advancing from Geophysics to Drilling: At McGarry, the Company is commencing its Ambient Noise Tomography ("ANT") survey, which will refine the geometry of the sedimentary basin and further define the large magnetotelluric ("MT") anomaly previously identified between approximately 250 metres and greater than 1,000 metres depth. The survey will help prioritize drill targets for the Company's planned deep drilling program. At the same time, Stardust is finalizing a near-surface drill program expected to commence in early August to test shallow gold targets along the Cadillac and Armistice fault systems, immediately along strike from Cadillac Mines' Kerr-Addison deposit. Omega -- Resource Update Progressing: Diamond drilling validation work at the Omega project is nearing completion, with the updated NI 43-101 mineral resource estimate work now underway following a recent site visit by the Company's independent QP consulting geologist. A draft resource estimate is targeted for completion late in the third quarter. As previously announced, the updated estimate will incorporate a comprehensive review of the historical drilling database, geological reinterpretation aimed at identifying opportunities for resource expansion, and current gold price assumptions significantly higher than those used in the 2013 estimate. Corporate and Financial: During the second quarter, Stardust further strengthened its financial position while simplifying the ownership structure of its key assets. The Company completed a private placement led by strategic investor Daniel Earle (see news releases of May 22, June 2 and June 12, 2026) and acquired 1.5% royalties on both the Kirkland West and Omega projects (see news release of June 15, 2026), increasing the Company's future exposure to exploration success across those projects. As the Company enters the second half of 2026, its focus shifts from data collection to value creation through exploration. With multiple technical programs advancing in parallel and several significant catalysts expected over the coming months, Stardust remains focussed on systematically advancing its district scale land package in a camp where consolidation and value recognition continues to accelerate. Kerr-Addison Tailings -- Drilling Complete, Characterization Underway The Company has completed the sonic drilling program announced on May 19, 2026 on the historic Kerr-Addison tailings deposit at McGarry, one of the largest historic tailings accumulations in the Kirkland Lake camp. The program totalled approximately 2,100 metres of sonic drilling on combined 100-metre and 50 metre centres, with all samples submitted to an accredited assay laboratory. WSP Canada Inc., which is managing the program, is conducting density testing and establishing metallurgical test protocols to evaluate potential gold recovery and processing options. Preliminary metallurgical work is expected in late summer. Assay results, together with metallurgical, density and volumetric data, are expected to support an initial NI 43-101 mineral resource estimate targeted for the second half of 2026. New Risk • Jun 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (CA$55.2m market cap, or US$38.9m). 
