ONGold Resources Reports 14.59 g/t Gold from Monument Bay Re-logging and Engages SRK for Resource Estimate

• Re-logging returned 14.59 g/t gold over 9.6 metres core length at Lake Shoot zone, including 19.7 g/t over 6.6 metres from previously unassayed interval
• SRK Consulting contracted to prepare NI 43-101 mineral resource estimate incorporating gold and tungsten at Monument Bay
• Updated estimate will include 59 historical drill holes totalling 18,000 metres and over 12,000 tungsten assay samples not in prior resource
• Historical estimate reports 2.3 million gold ounces in measured and indicated categories; deposit untested below 300 metres vertical depth
• Gold price currently above US$4,800 per ounce versus US$1,200 used in 2017 estimate; tungsten designated critical mineral by multiple governments

ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) is a Toronto-based junior mining and exploration company focused on developing gold properties in Canada, primarily in Northern Ontario. The company holds exploration assets in Northern Ontario and Northern Manitoba, including the Monument Bay gold-tungsten project located in northeastern Manitoba. The Monument Bay deposit has mineralisation extending 4.2 kilometres along the Twin Lakes Shear Zone, with a drill database of over 233,000 metres in more than 800 diamond core holes completed by current and previous operators.

Re-logging Programme Returns High-Grade Gold Results

The 2025 re-logging programme at Monument Bay has identified gold mineralisation in intervals where historical assay results were missing. Drill hole GSC-04-04 returned 14.59 grams per tonne gold over 9.6 metres core length, including 19.7 g/t over 6.6 metres within the Lake Shoot zone. According to the company, this interval had been sampled by previous operators, but assay results were not in the database.

The re-logging programme has also re-assayed previously sampled intervals. In the Camp Shoot zone, re-assaying of drill hole TL-04-198 yielded 1.13 g/t gold over 26.9 metres, compared to 2003 assays that averaged 0.86 g/t over a similar interval. The news release notes that differences may reflect sampling and analytical methods. Drill hole TL-07-340 in the Simmons Shoot returned 1.94 g/t over 14.14 metres, representing another interval where assay results had been missing despite observed mineralisation and alteration.

To date, 41 drill holes totalling 7,691 metres have been re-logged, with 37 additional holes spanning 3,295 metres underway. The programme has collected 680 core samples for gold and tungsten analysis, with winter 2026 sampling continuing.

Kyle Stanfield, Chief Executive Officer, stated:

"The core re-logging, infill and pulp sampling program completed to date has resulted in deepening our geological understanding of the property geology, the structural control mechanisms of gold and tungsten mineralization and the potential for continued resource development of the Monument Bay deposit."

SRK Consulting Contracted for Updated Resource Estimate

ONGold has contracted SRK Consulting (Canada) Inc. to prepare an updated mineral resource estimate compliant with NI 43-101 standards. This will be the first resource estimate to include tungsten mineralisation alongside gold. The previous resource estimate, completed in 2017 by Yamana Gold, was based on a gold price of US$1,200 per ounce and excluded tungsten.

The updated estimate will incorporate geological understanding developed through the re-logging programme. The news release notes that historical domain modelling employed multiple complex domains, which has been replaced with a simplified single-domain model based on the gold-bearing felsite porphyry dyke. This approach reflects the geological and structural controls associated with gold mineralisation along the Twin Lakes Shear Zone structure.

The resource estimate will include tungsten for the first time. Tungsten is designated as a critical mineral by Canada, the United States, the European Union, and Australia. The news release states that over 80 per cent of global tungsten supply originates from China. Key tungsten market drivers listed include defence and aerospace applications, industrial manufacturing, and clean energy transition. The 2017 resource was based on US$1,200 gold, whilst current gold prices are above US$4,800 per ounce.

Historical Data Integration and Resource Expansion Potential

The upcoming resource update will incorporate 59 historical drill holes totalling 18,000 metres not included in the previous resource estimate. The company has identified over 12,000 missing historical tungsten pulp samples, including 81 gold pulps awaiting assay results, which will provide tungsten grade data across the deposit.

Re-logging has identified gold mineralisation from near surface to approximately 300 metres vertical depth. Section 504950E through the Camp Shoot shows intersections of 1.45 g/t gold over 41.2 metres core length, 1.40 g/t over 80.2 metres, and 1.13 g/t over 26.9 metres. The main deposit has been drill tested over a 4.2 kilometre strike length but remains largely untested below 300 metres vertical depth.

The news release notes the company's technical work supports the hypothesis of a larger gold-bearing porphyry system at depth beneath the current resource area. In late 2025, the company completed a 33.8 line-kilometre ground induced polarisation survey targeting depths up to 300 metres from surface across the deposit and its western strike extension. Survey results are being assessed for a potential drilling programme in late 2026 or early 2027. The historical estimate reports 2.3 million gold ounces in measured and indicated categories.

Next Steps

The updated NI 43-101 resource estimate is expected for publication in 2026 and will incorporate tungsten for the first time. Winter 2026 infill core sampling continues to generate assay results for the updated estimate. Following publication of the resource estimate, the company will evaluate a Phase I drilling programme. Priority targets include the western strike extension along the Twin Lakes Shear Zone, the Mid-East Zone, the AZ Central Zone, and the Makataysip Lake target area identified during 2025 field work.

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