ONGold's Monument Bay Programme Delivers Grade Improvements and Expanded Tungsten Data Across the Deposit

• A total of 89 historical drill holes across 22 sections, covering 10,725 metres of core, were re-logged and re-sampled, with 1,792 new gold assays and 13,903 tungsten assays added to the Monument Bay database.
• The Simmons Shoot returned the programme's top intercept of 4.12 g/t Au and 730 ppm tungsten over 26.75 metres, including 43.50 g/t Au over 0.49 metres.
• Grade increases of between 15% and 18% were recorded in the Camp Shoot and Simmons Shoot West following infill sampling of previously untested intervals, with new tungsten values established where none previously existed.
• Higher gold grades were more frequently observed in the Eastern portion of the deposit, with the Lake Shoot returning up to 6.15 g/t Au over 132 metres based on historical assay composites, and mineralisation extending to surface.
• An NI 43-101 compliant mineral resource estimate being prepared by SRK Canada is expected in September 2026, with a resource expansion drilling programme planned for 2027.

ONGold Resources Ltd. (TSXV: ONAU | OTCQB: ONGRF) is a Canada-based gold exploration company with assets in Northern Ontario and Northern Manitoba. Its portfolio includes the Monument Bay Gold-Tungsten Project, TPK Gold Project, Domain Gold Project and October Gold Project, all located within one of Canada's most historically productive gold-mining regions.

Historical Core Re-Logging and Infill Sampling Programme Results at Monument Bay

The re-logging and infill sampling programme at Monument Bay was structured around three objectives: verifying gold and tungsten grades already recorded in the historical database, obtaining missing data by assaying previously untested core and pulps, and developing a geologically defensible model to support an updated mineral resource estimate. The programme covered 89 drill holes across 22 cross-sections spanning the deposit's 4.2-kilometre strike length. Much of the work drew on historical pulp samples (finely crushed rock retained for future analysis) that previous operator Yamana Gold had stored at the Kam River facility in Thunder Bay, Ontario.

In total, the programme produced 1,792 new gold assays and 13,903 tungsten assays, sourced from 1,307 re-analysed historical pulps and 485 freshly cut core samples. These were incorporated into the existing Monument Bay database, which now spans 615 drill holes. The verification exercise confirmed that the existing dataset is of very good quality.

Re-logging identified that gold mineralisation is concentrated in east-northeast plunging shoots (elongated higher-grade zones within the broader deposit) that dip steeply northward, repeating along the full strike of the deposit. This structural assessment was carried out with input from a structural geologist at Terraine Geoscience Ltd. and forms the basis of the geological model underpinning the updated resource estimate being prepared by SRK Canada.

High-Grade Gold Composite Assay Results and the Eastern Deposit Area

The programme's top intercept came from the Simmons Shoot, where hole TL-19-697B returned 4.12 g/t Au and 730 ppm tungsten over 26.75 metres, including 43.50 g/t Au over 0.49 metres, representing a 0.34% increase over the originally reported grade. The Camp Shoot returned 2.20 g/t Au and 728 ppm tungsten over 9.70 metres in hole TL-11-394, a 15.4% grade increase over the original intercept, after previously unsampled intervals were tested. Simmons Shoot West returned 2.63 g/t Au over 13.0 metres in hole TL-11-417, a 16.8% grade increase, with new tungsten values added where no data had previously existed.

Re-logging results indicate that higher-grade gold intervals are more frequently developed in the Eastern portion of the deposit. In the Lake Shoot, historical assay composites returned 6.15 g/t Au over 132 metres in hole TL-16-575, with mineralisation extending to surface. A nearby hole, TL-14-514, returned 1.84 g/t Au over 90.3 metres. The Eastern portion of the deposit also holds further expansion potential, as the host porphyry (the gold-bearing rock unit), associated alteration and mineralisation continue within the Twin Lakes Shear Zone in areas where drilling is currently less prevalent.

The programme also confirmed the presence of tungsten across the deposit, with 55 historical pulp samples out of 12,418 dispatched returning greater than 500 ppm tungsten. The data has produced a clearer understanding of tungsten distribution throughout the deposit, and the results are expected to assist both the geological interpretation and resource modelling work currently underway.

Updated Mineral Resource Estimate Preparation and Geological Understanding

Monument Bay's most recent official gold resource estimate dates to 2017 and reflected a historical figure of approximately 2.3 million gold ounces in the Measured and Indicated categories, and 720,000 ounces in the Inferred category. This estimate is historical in nature and has not been verified as current under NI 43-101 standards, Canada's regulatory framework governing mineral project disclosure. ONGold is not treating it as a current resource, and it should not be relied upon as such.

A key finding from the re-logging programme is the role of sheeted and stockwork vein systems in controlling gold and tungsten grades. These closely spaced, gold-bearing vein networks are hosted primarily within the Twin Lake Porphyry, the main gold-bearing rock unit at Monument Bay, and are continuous both along strike and at depth. The re-logging programme also confirmed the presence of scheelite, the tungsten-bearing mineral, across a range of host rock types throughout the deposit.

CEO Kyle Stanfield commented: 

"The results of the recently completed new composite assay program combined with the improved structural controls assessment has improved continuity of gold grades at Monument Bay. The new tungsten assays have improved our knowledge of tungsten mineralization and its controls. Monument Bay hosts high grade gold starting at surface and the mineralization remains open at depth in many areas. The conclusion of this intensive program spanning 22 sections including 89 holes totaling 10,725m of drill core re-logging and sampling has set a solid foundation not only for the completion of the new mineral resource estimate underway and expected to be completed this September but also for the development of a resource expansion drill program planned for 2027." 

Metallurgical testing conducted in 2015 by Thibault & Associates Inc. separately demonstrated that Monument Bay's gold-tungsten samples were amenable to flotation processing.

Conclusion

With the re-logging and infill sampling programme now complete, ONGold Resources has met all three of its stated programme objectives: data verification, data gap closure and geological model development. The publication of a new NI 43-101 compliant mineral resource estimate by SRK Canada is expected in September 2026. A resource expansion drilling programme is planned for 2027, targeting areas where mineralisation remains open, including the Eastern deposit area and zones where drilling coverage is currently limited.

‍