Announcement • Jun 18
Q-Gold Resources Ltd. Launches Summer 2026 Exploration Campaign At Mine Centre Q-Gold Resources Ltd. has announced the launch of its summer 2026 exploration campaign at its Mine Centre project located in Ontario, Canada. The program is anticipated to include detailed field mapping of auriferous veins, systematic channel sampling and targeted diamond drilling designed to advance and expand QGold's exploration pipeline. The field mapping program is designed to identify and prioritize gold-bearing vein systems north and south of the Foley Mine. While certain veins in the area have been previously drill-tested, the majority remain untested. QGold intends to identify, map, clear and subsequently channel-sample these veins to expand its inventory of high-priority exploration targets. In parallel, the Company will continue to drill-test the strike and dip extensions of auriferous veins in the vicinity of the Foley Mine, where previous exploration has successfully identified gold mineralization. This work is expected to provide a stronger geological framework for follow-up drilling and target ranking across the broader Mine Centre land package. The summer 2026 exploration campaign commenced last week with an initial field review and planning visit by Dr. Andreas Rompel, the chief operating officer and VP exploration of the Company, Jason Arnold, P.Geo. for Mine Centre, and Aaryn Hutchinson of Critical Discoveries. The site visit focused on validating priority areas, refining field protocols and preparing the program for an efficient start to summer exploration activities. Quartz vein exposed at McKenzie Gray. Historical end of mining on the quartz vein at McKenzie Gray due to low gold prices - demonstrating potential upside. Potential veins between Golden Star in the north and McKenzie Gray in the south. These potential veins are the target of this summer’s field mapping and sampling exercise. The scientific and technical information contained in this news release has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat., Chief Operating Officer, Vice President Exploration and a director of QGold, a “qualified person” within the meaning of National Instrument 43-101 — Standards of Disclosure for Mineral Projects. New Risk • May 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$8.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$8.3m free cash flow). Share price has been highly volatile over the past 3 months (35% average weekly change). Negative equity (-CA$5.6m). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (171% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$44.2m market cap, or US$32.5m). Recent Insider Transactions Derivative • Apr 29
President & Director exercised options to buy CA$123k worth of stock. On the 24th of April, Jamsheed Mehta exercised options to buy 500k shares at a strike price of around CA$0.20, costing a total of CA$100k. This transaction amounted to 50% of their direct individual holding at the time of the trade. Since December 2025, Jamsheed's direct individual holding has increased from 1.00m shares to 1.50m. Company insiders have collectively bought CA$178k more than they sold, via options and on-market transactions, in the last 12 months. 
