ONGold Identifies AZ Zone as New Near-Mine Gold Target South of Monument Bay, Supported by Manitoba Grant

• The AZ Zone has been identified as a new near-mine drill target located approximately 800 metres south of the Monument Bay Gold Deposit and 500 metres southwest of the Twin Lakes camp.
• Historical grab samples from the zone returned gold grades of up to 12.97 grams per tonne, with trench and limited historical drill results also showing gold mineralisation.
• A 2025 geophysical survey outlined multiple untested chargeability anomalies (subsurface signals that can indicate buried mineralised structures) across an apparent strike length of 1,200 metres.
• ONGold plans a diamond drill program of up to 2,500 metres, starting in November 2026, to test the structural system hosting the AZ Zone.
• The Manitoba government has provided a C$300,000 grant to support project development, along with an Indigenous engagement and training program tied to the drill campaign.

ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) is a Canada-based gold exploration company with a portfolio of projects in Northern Ontario and Northern Manitoba. Its main asset is the district-scale Monument Bay Gold and Tungsten Project, alongside the TPK, Domain, and October gold projects, located within an established Canadian gold-producing region. The company's exploration work incorporates technical assessment of its projects together with engagement with local Indigenous communities.

AZ Zone Identified as Priority Near-Mine Drill Target 800m South of Monument Bay Gold Deposit With Historical Grab Samples Returning up to 12.97 g/t Au and Multiple IP Chargeability Anomalies Over 1,200m Strike

The AZ Zone sits within the South Limb Deformation Zone, a structure running parallel to the Twin Lakes Shear Zone and forming part of the broader Stull-Wunnumman Deformation Zone, a regional fault system linked to gold mineralisation across the district. Its location near the Twin Lakes camp and the Monument Bay Gold Deposit, which hosts Measured and Indicated resources of 2.0 million ounces of gold and an Inferred resource of 0.49 million ounces, places it close to existing project infrastructure.

Surface and historical work at the AZ Zone includes grab samples grading as high as 12.97 g/t Au, and a historical trench that produced a channel sample of 10.29 g/t Au over 0.50 metres. A follow-up channel sample collected by ONGold in 2025, west of that trench, returned 1.54 g/t Au over 0.50 metres from altered conglomerate. Gold occurs in sheared conglomerate adjacent to a felsic sill or dyke (a finer-grained intrusive rock body), with alteration and sulphide minerals similar to those observed in the main deposit. Historical drilling remains limited to eight shallow holes covering approximately 180 metres of strike, with intercepts including 2.10 g/t Au over 1.90 metres and 2.86 g/t Au over 0.69 metres directly beneath the trench.

A 2025 induced polarisation (IP) geophysical survey, a method used to detect buried sulphide minerals often associated with gold systems, identified multiple untested chargeability anomalies extending across an apparent strike length of 1,200 metres. The survey also suggests the central topographic hill in the area may be underlain by a felsic intrusive body, dyke, or series of dykes.

Up to 2,500-Metre November 2026 Diamond Drill Program Planned to Test Untested Structural System in South Limb Deformation Zone

ONGold plans to begin a diamond drill program of up to 2,500 metres in November 2026 to test the South Limb Deformation Zone at the AZ Zone. The program follows the 2025 geophysical survey and is designed to evaluate the chargeability anomalies identified along strike and at depth.

Kyle Stanfield, Chief Executive Officer and Director of ONGold, commented:

"The AZ Zone represents a very compelling geological target further advanced as a result of the 2025 geophysics investigation that resulted in the identification of multiple untested chargeability anomalies along strike and at depth with multiple parallel anomalies that could potentially host gold-bearing structure outlines. We are excited to move the drilling program forward in coordination with the local community as we expand training opportunities and associated investments."

The scientific and technical information related to the 2025 exploration results has been reviewed by Paul Dunbar, P.Geo., Vice President Exploration of ONGold, who serves as the qualified person under Canadian mineral disclosure standards (NI 43-101). All historical drill intervals reported are core lengths, and true widths have not been determined.

C$300,000 Manitoba Government Grant Supporting Project Development Indigenous Engagement and Training Program

Earlier in 2026, the Manitoba government awarded ONGold a C$300,000 grant to support project development, along with Indigenous engagement and training initiatives. The upcoming AZ Zone drill program will form part of a larger training program coordinated with the local First Nation community.

The Honourable Jamie Moses, Manitoba's Minister of Business, Mining, Trade and Job Creation, commented:

"Manitoba has the opportunity to become a global leader in the critical mineral sector, and our government is working with partners like ONGold to make that happen. Working alongside the local community and investing in training and capacity building will benefit the whole province by strengthening our economy and creating good jobs for Manitobans. We look forward to continuing to support ONGold as they advance this strategic gold-tungsten asset."

The Manitoba government's support to date has also included infrastructure investment planning for the project.

Milestones and Next Steps

ONGold's next milestone is the start of its diamond drill program at the AZ Zone in November 2026, testing the South Limb Deformation Zone for the first time. The drilling will proceed alongside the company's Indigenous engagement and training program, coordinated with the local First Nation community and supported by the Manitoba government's C$300,000 grant.

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