P2 Gold Intersects 0.69 Grams per Tonne Gold & 0.25% Copper at Lucky Strike Zone

• Ten reverse circulation (RC) drill holes completed at the Lucky Strike Zone at Gabbs confirm the Mineral Resource model, with multiple wide gold-copper intercepts reported across the batch.
• The strongest intercept returned 0.69 grams per tonne gold and 0.25% copper over 74.68 metres, including a higher-grade core of 1.32 grams per tonne gold and 0.38% copper over 30.48 metres, and ended in mineralisation.
• A second notable intercept returned 0.71 grams per tonne gold and 0.30% copper over 70.10 metres, including 0.99 grams per tonne gold and 0.40% copper over 15.24 metres, and also ended in mineralisation.
• Ore controls at Lucky Strike are confirmed to mirror the Sullivan Zone, with a higher-grade core identified and a combined mineralised thickness of up to 125 metres when including the deeper footwall domain.
• The Lucky Strike Zone remains open in all directions across an approximately 700-metre by 500-metre footprint currently defined, roughly equivalent in size to the Sullivan Zone and assessed as having potential to be significantly larger.
• An updated Mineral Resource estimate (MRE) is targeted for completion in the third quarter of 2026, to be followed by a feasibility study (FS) in the fourth quarter of 2026.

Company Overview

P2 Gold Inc.  (TSXV: PGLD | OTCQB: PGLDF) is a mineral exploration and development company advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A preliminary economic assessment (PEA) published in October 2025 outlined annual average production of 109,000 ounces of gold and 15,000 tonnes of copper over a 14.2-year mine life. Work to support a feasibility study is underway.

Drill Results Overview

P2 Gold reported results from ten reverse circulation (RC) drill holes at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project in Nevada. The holes form part of a program that has now completed 62 RC holes since October 2025, with 24 drilled at the Sullivan Zone and 38 at Lucky Strike.

One hole intersected 0.69 grams per tonne gold and 0.25% copper over 74.68 metres from 149.35 metres downhole, including a higher-grade interval of 1.32 grams per tonne gold and 0.38% copper over 30.48 metres, and ended in mineralisation. A second hole returned 0.71 grams per tonne gold and 0.30% copper over 70.10 metres from 134.11 metres downhole, including 0.99 grams per tonne gold and 0.40% copper over 15.24 metres, also ending in mineralisation. A third hole intersected 0.72 grams per tonne gold and 0.31% copper over 44.20 metres, including a 15.24-metre section grading 0.93 grams per tonne gold and 0.31% copper, plus an additional footwall interval of 0.19 grams per tonne gold and 0.18% copper over 30.48 metres.

Additional select results included intercepts of 0.56 grams per tonne gold and 0.24% copper over 67.06 metres and 0.59 grams per tonne gold and 0.24% copper over 74.68 metres, both accompanied by separate footwall mineralisation intervals.

Geological Controls & Higher-Grade Core

The available drill data confirms that ore controls at Lucky Strike replicate the geometry established at the Sullivan Zone, where mineralisation is hosted within and below a tabular unit of quartz monzonite underlain by pyroxenite. At Lucky Strike, the higher-grade gold and copper are concentrated at the core of the zone and in restricted halos around subvertical structures, transitioning to copper-gold mineralisation in the footwall of the main mineralised body.

The footwall mineralisation at Lucky Strike ranges in thickness from 20 metres to 60 metres. Combined with the main mineralised body of up to 75 metres, the zone has a combined thickness of up to 125 metres. Numerous quartz-filled structures cut across the Lucky Strike Zone, reaching the surface and having been historically exploited as narrow, high-grade pits and shallow workings.

The most recent holes were drilled on the western half of the Lucky Strike Zone, following up on mineralisation encountered in the prior batch. The results confirm a higher-grade core in this area comparable to the known higher-grade core at the Sullivan Zone, with this core area open for expansion to the north and south.

Zone Scale & Expansion Potential

Current and historical drilling define the Lucky Strike Zone across a footprint of approximately 700 metres by 500 metres. Drilling is currently focused on the western half of the zone, where the shallow mineralisation is hosted. This footprint is roughly equivalent in area to the Sullivan Zone, which forms the basis of the Gabbs preliminary economic assessment (PEA) mine plan. Based on current and historical drill data, Lucky Strike has the potential to be significantly larger than Sullivan.

The zone remains open in all directions. On completion of drilling at Lucky Strike, the RC drill is expected to return to the Sullivan Zone for additional work to extend that zone down dip.

Since the start of the program, the diamond drill has also completed 31 metallurgical and slope stability geotechnical holes and 4 exploration holes. Assays will continue to be reported over the coming months. A new RC drill is scheduled to mobilise to the site at the beginning of May 2026.

Next Steps

On completion of the Infill and Expansion Drill Program, P2 Gold is targeting an updated MRE for Gabbs in the third quarter of 2026. That updated estimate will form the basis of a feasibility study on placing Gabbs into production, targeted for the fourth quarter of 2026. 

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