Announcement • Jul 22
Pirate Gold Reports Initial Visual Observations from Drilling At Scurvy Fault and Discovers Evidence of Orogenic Gold Pirate Gold reported initial visual observations from drilling at the Scurvy Fault, within the Crippleback area of its 100%-owned Treasure Island Project in Central Newfoundland. Initial drilling: Thirteen holes have tested approximately 200 m of strike along the Scurvy Fault, intersecting broad zones of brittle and ductile deformation. Quartz veins measuring up to several metres wide, together with sulphide mineralization including pyrite and arsenopyrite, provide evidence of significant fluid flow. The graphitic sedimentary horizon associated with the Scurvy Fault is geophysically interpreted to extend for at least 15 km across Crippleback. More than 100 km of interpreted secondary faults across the approximately 200 km² Crippleback Intrusive Suite remain untested. The Scurvy Fault was initially discovered in 2024 with a single drill hole CL-24-06 which intersected 1.0g/t Au, 34.0g/t Ag and 0.23% Cu over 0.75m. Felsic to intermediate volcanic units in the hanging wall of the fault zone display broad zones of ductile deformation over intervals of approximately 10-50 m, while brittle deformation is primarily associated with the graphitic sedimentary horizon. Quartz veining occurs both within the hanging-wall felsic and intermediate volcanic sequences as well as the graphitic sediment. Notable mineralization is commonly pyrite with localized occurrences of boulangerite and chalcopyrite within the volcanic hanging wall sequences, common mineralization seen in the graphitic fault zone and quartz vein network consists of pyrite and arsenopyrite. Table 1 is a summary of drilling to date at the Scurvy Fault. The company cautions that visual observations of mineralization are not indicative of high assay grades, and drill core samples will be submitted to a certified laboratory for analysis. Assay values for the intervals shown will be released when available. All intervals are down hole depths and true widths are unknown. The continuity and strength of the Scurvy Fault structure, combined with the significant fluid flows in the form of quartz veins and sulphide mineralization is a very clear affirmation that we are in an orogenic fault system. The drill defined structure to date measures over 200m in strike and to depths of 185m. Its genetic link to the graphitic sediment is clear and this rock unit is geophysically interpreted for at least 15km throughout Crippleback. The Valentine Lake Fault is a regional structure stretching for hundreds of kilometers across Newfoundland; it is similar in nature to the Destor-Porcupine and Larder Cadillac faults of the Abitibi Greenstone Belt which are spatially associated with many large gold deposits most of which occur along secondary faults like we have with Scurvy, there are well over 100km of geophysically interpreted secondary faults throughout the Crippleback Intrusive Suite that have never been drilled. Crippleback is not a one-deposit story. Across this massive property, we see potential for multiple deposits. Moby Dick established the copper-gold opportunity; just 1.5 kilometres away, Scurvy is showing the right ingredients for orogenic gold. That potential for multiple mineral systems is what makes Crippleback so compelling. The Scurvy Fault represents the first systematic drill test of a much broader network of secondary structures interpreted from geophysics across the approximately 200 km² Crippleback Intrusive Suite. More than 100 km of interpreted faults remain untested. Together with Crippleback's position along the Valentine Lake Fault Zone, the deformation, quartz veining and sulphide mineralization observed at Scurvy support continued evaluation of the area for orogenic-style gold mineralization alongside ongoing copper-gold porphyry and epithermal exploration. New Risk • Jun 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$129.2m market cap, or US$91.1m). Announcement • Jun 18
Pirate Gold Intersects 0.54% Cu Eq over 180.8M, Including 1.48% Cu Eq over 49.4M, in New Grassroots Copper-Gold Porphyry Epithermal Discovery At Moby Dick Pirate Gold Corp. announced exploration drill results from Crippleback at its Treasure Island Project. The Treasure Island project in Central Newfoundland covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district. The Neo-Proterozoic Crippleback Intrusive Suite covers 40km of strike length along the Valentine Lake Fault in the southern portion of the Treasure Island Project. A large advanced argillic alteration zone first identified in 2024 and named Moby Dick has been confirmed by drilling to measure 3100m long, 850m in width and to depth of 500m. The full extents of the alteration zone is not known and only limited by drilling to date. Results from the first three drill holes to test Moby Dick have shown broad intervals of copper and gold mineralization consistent with a Copper Porphyry-High Sulphidation Epithermal style mineralizing system. PGC-26-058 targeted the Moby Dick alteration system; this hole intersected silicified volcanic rock from 15 to 137m downhole containing disseminated pyrite and muscovite alteration; from 137 to 247m in highly altered quartz monzonite marked by chlorite and montmorillonite alteration with pyrite mineralization, this included a veined zone from 224.5 to 232.0m with locally massive to semi massive pyrite; 247 to 293m intersected a phengite dominated volcanic sequence with disseminated pyrite and locally trace chalcopyrite; 293 to 395m intersected a kaolinite dominated alteration in both volcanic and felsic intrusive rocks with pyrite mineralization including a veined zone from 343.0 to 349.5m containing semi-massive pyrite mineralization; 395 to 562m intersected a volcanic sequence with muscovite- phengite alteration and disseminated pyrite mineralization; 562 to 602m intersected highly silicified monzonite and volcanic sequence containing pyrite as stringers. Mineralization is comprised of pyrite, chalcopyrite and one instance of visible gold. Highlight assay results include: 0.38% Cu Eq over 112.4m (0.12% Cu; 0.22g/t Au; 1.76g/t Ag). Including 0.72% Cu Eq over 45.0m (0.17% Cu; 0.46g/t Au; 2.57g/t Ag). PGC-26-064 targeted the Moby Dick alteration system from the north side and 650m along strike of PGC-26-058 and intersected quartz monzonite from 0 to 107m depth dominated by chlorite alteration and disseminated pyrite mineralization; from 107 to 197m depth intersected silicified and vuggy volcanic and intrusive sequences with pyrite as stringers and disseminations dominated by muscovite and kaolinite alteration; 197 to 215m intersected heavily clay altered volcanic rocks dominated by pyrophyllite with local vuggy segments and pyrite mineralization; 215 to 295m contained heavily clay altered volcanic rock with vuggy textures dominated by muscovite and kaolinite alteration carrying pyrite as disseminations and stringers; 295 to 349m intersected volcanic sequence heavily altered with pyrophyllite, 1-2% pyrite as disseminations; 349 to 422m intersected monzonite with phengite and montmorillonite alteration with pyrite as semi-massive stringers and disseminations. Advanced argillic clay alteration was noted through much of the hole from 107 to 690m with highly anomalous copper-gold values from 321 to 497m. PGC-26-068 was completed from the same location as PGC-26-058 at a shallower -45 dip reaching further into the alteration envelope. The drill hole encountered the same broad gold-copper mineralized envelope as PGC-26-058 approximately 100-150m up dip. This hole intersected felsic volcanics with muscovite dominated alteration sequences from 12.8 to 175m; felsic volcanic with montmorillonite dominated alteration from 175 to 255m depth; from 255 to 275m a strongly magnetic intrusive unit with semi massive pyrite and disseminated chalcopyrite; 275 to 326 intersected altered felsic volcanic with chlorite and montmorillonite alterations; 326 to 428m intersected largely muscovite dominated felsic volcanics with local silicified zones and disseminated pyrite; 428 to 596m intersected felsic volcanics with muscovite alteration, localized gypsum with disseminated pyrite. Mineralization is comprised of disseminated chalcopyrite and pyrite, locally semi-massive pyrite and chalcopyrite is present. Highlight assay results include: 0.54% Cu Eq over 180.8m (0.13% Cu; 0.36g/t Au; 1.73g/t Ag) Including 1.48% Cu Eq over 49.4m (0.28% Cu; 1.07g/t Au; 3.42g/t Ag) Drilled 1700m east of PGC-26-058 and PGC-26-068 targeting the Moby Dick alteration zone, this drill hole entered an intense clay alteration zone at 30m depth comprised of montmorillonite to a depth of 275m where the clay composition shifts to muscovite dominant before entering into pyrophyllite at 325m to the end of the hole at 398m. The hole was abandoned before reaching target depth due to the swelling nature of the clay alteration. Fine grained disseminated pyrite was noted throughout the hole. Assay results are pending. 
