Announcement • May 28
GFG Resources Inc Reports Assay Results from First-Pass Regional Diamond Drilling Program At Nahanni Target on Goldarm Property
GFG Resources Inc. reported assay results from its first-pass regional diamond drilling program at the Nahanni target on the Goldarm Property in the Timmins Gold District of Ontario. The 10-hole, approximately 3,000 metre program tested three high-priority target areas along a 6-kilometre segment of the Pipestone Deformation Zone, marking the Company’s first regional drill campaign outside of the Aljo and Montclerg areas. Drilling intersected high-grade gold mineralization at all three target areas, including intervals above 5 grams of gold per tonne and locally above 10 g/t Au, within broad zones of deformation, sulphidation, veining and strong alteration. These results validate GFG’s greenfield targeting model, confirm a large-scale mineralizing system associated with the PDZ, and materially enhance the broader exploration potential of the Goldarm Property. High-grade and shallow mineralization of 11.20 g/t Au over 0.7 m within 1.97 g/t Au over 6.2 m and 1.23 g/t over 3.0 m within 0.44 g/t Au over 23.8 m within multiple broad, northeast-oriented ductile deformation zones in holes NAH-26-010 & -009 at Nahanni East. Strong gold intercepts of 5.12 g/t Au over 1.5 m within a broad 0.20 g/t Au over 85.8 m interval and 1.33 g/t Au over 4.5 m within 0.31 g/t Au over 67.4 m in holes NAH-26-003 and -008 at Nahanni Central, respectively. Nahanni West also returned gold with 0.66 g/t Au over 9.0 m, including 4.75 g/t Au over 1.0 m in hole NAH-26-005. Broad sericite or fuchsite alteration and anomalous gold envelopes associated with significant porphyry dyking and felsic intrusions with drilled widths locally exceeding 125 m confirm the scale of the mineralizing system along the Pipestone Deformation Zone. High grade gold mineralization confirmed across all three target areas along a 6 km corridor, validating district-scale discovery potential. Mineralization remains open in all directions and in several areas begins immediately beneath till cover, supporting efficient follow-up targeting. Regional sonic base-of-till program generating new targets both along the PDZ and in the central and northern portions of the expanded Goldarm Property. The Nahanni drill program was designed to test structurally favorable, greenfield targets generated through integrated geological interpretation, geophysics, structural modelling and limited historical exploration data. The program targeted Nahanni West, Nahanni Central and Nahanni East along a 6 km segment of the PDZ. Results from the campaign show a clear relationship between gold mineralization and broad zones of deformation, quartz and quartz-carbonate veining, sulphidation and intense sericite, ankerite and/or fuschite alteration. The combination of broad anomalous envelopes, up to 125 m, and localized higher-grade shoots are consistent with a robust hydrothermal gold system and provides a strong technical basis for systematic follow-up drilling. Host rocks encountered in drilling include Porcupine-aged metasediments, Kidd-Munro mafic and ultramafic stratigraphy, and felsic intrusive and dyke phases. All three target areas returned significant gold mineralization linked to the same regional structural corridor. At Nahanni Central, mineralization is closely associated with abundant altered felsic dyking interpreted to represent late-stage intrusive activity overprinted by deformation, hydrothermal alteration and veining. At Nahanni East, mineralization is controlled by large-scale shear zones occurring along contacts with diabase dykes and felsic intrusions proximal to northeast-oriented structures north of the PDZ. These gold-bearing shear zones have yielded the highest-grade drill results along a 20 km length of the PDZ east of the Montclerg Gold Project. The Nahanni program is part of GFG’s aggressive 2026 exploration strategy across the greater Goldarm Property, where the Company plans to complete approximately 10 km of diamond drilling supported by a $5.0 to $5.5 million exploration budget. This capital is being directed toward both near-term discovery opportunities and the systematic advancement of a much larger district-scale land package. In parallel with diamond drilling, GFG continues to advance a district-scale generative exploration program that includes sonic base-of-till drilling, biogeochemical sampling, structural modelling and integrated geophysical interpretation. An 82 hole sonic program was completed at approximately one-km spacing over the past two quarters with the aim of probing till profiles and top of bedrock across a largely covered portion of the Abitibi greenstone belt that has never seen systematic gold exploration. Preliminary observations and assays point to new areas of significant hydrothermal alteration and regional gold anomalism up to 7 km north of the PDZ that will continue to be refined as results are received. Of these sonic holes, 15 were completed at the Nahanni Target outlining new areas of gold anomalism in till and bedrock including the Carr Porphyry target that GFG will be prioritizing as an additional drill target in the future. The Company recently expanded its Goldarm land position by more than 50%, consolidating a significant portion of the PDZ and associated structural corridors. This expansion was driven by the positive results from the Nahanni program, encouraging preliminary sonic base-of-till results, improved structural and geological understanding and the implications for regional gold prospectivity and controls. With modern targeting tools, a larger and more coherent land package, and increasing regional exploration success along strike, GFG believes Goldarm is emerging as a highly prospective, underexplored gold corridor in one of Canada’s premier mining camps. Follow-up drilling at Nahanni is planned for the second half of 2026 and will initially focus on the eastern target areas where logistics support year-round access. With first-pass drilling already demonstrating gold mineralization across the corridor, future work is expected to prioritize expansion, vectoring toward higher-grade zones and testing additional structural targets along strike and at depth. Drillhole Summaries: NAHANNI CENTRAL NAH-26-001 This hole targeted the PDZ proximal to a significant north-east trending structure and intersected top of bedrock approximately 50 m downhole and drilled ultramafic rocks grading in to mafic volcanic rocks approaching the PDZ with increasing strain, alteration and porphyry dyking. The PDZ is marked by a 12 m wide interval of quartz-feldspar porphyry dyking that is moderately to strongly fuchsite-altered with up to 4% sulphide locally (pyrite with minor pyrrhotite and arsenopyrite).
