P2 Gold Intersects 183 g/t Gold & 4.0% Copper Over 1.52 Metres at Lucky Strike Zone, Gabbs Project

• Drilling at the Lucky Strike Zone returned 1.04 grams per tonne gold and 0.35% copper over 53.34 metres, including a high-grade interval of 183 grams per tonne gold and 4.0% copper over 1.52 metres.
• Visible gold was encountered in a 100-metre step-out to the south into an area with no historical drilling, near the upper contact of the quartz monzonite.
• A second hole intersected 0.88 grams per tonne gold and 0.34% copper over 56.39 metres, including 21.34 metres grading 1.42 grams per tonne gold and 0.43% copper.
• Results from all 4 holes confirm and extend the higher-grade core area of mineralisation at the Lucky Strike Zone, which remains open in all directions.
• An updated Mineral Resource estimate (MRE) is expected in the third quarter of 2026, followed by a feasibility study (FS) in the fourth quarter of 2026.

About P2 Gold Inc.

P2 Gold Inc. (TSXV: PGLD) (OTCQB: PGLDF) is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment (PEA) has outlined a long-life, mid-size mine at Gabbs with average annual production of 109,000 ounces of gold and 33 million pounds of copper, processing 9 million tonnes per year over a 14.2-year mine life. The feasibility study (FS) is advancing at a nominal production rate of 12 million tonnes per year, targeting an average annual production of 150,000 ounces of gold and 45 to 50 million pounds of copper.

Drill Results

P2 Gold reported results from 4 diamond drill holes drilled at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project in Nevada. The first hole intersected 1.04 grams per tonne gold and 0.35% copper over 53.34 metres from 60.96 metres downhole, including 19.81 metres grading 1.93 grams per tonne gold and 0.44% copper, and including 1.52 metres grading 183 grams per tonne gold and 4.0% copper starting at 73.15 metres downhole (uncapped). The same hole also intersected 0.30 grams per tonne gold and 0.16% copper over 50.29 metres and 0.14 grams per tonne gold and 0.23% copper over 16.76 metres as footwall mineralisation intervals, and ended in mineralisation.

A second hole intersected 0.88 grams per tonne gold and 0.34% copper over 56.39 metres starting at 97.54 metres downhole, including 21.34 metres grading 1.42 grams per tonne gold and 0.43% copper. A third hole intersected 0.43 grams per tonne gold and 0.23% copper over 77.72 metres, including 18.29 metres grading 0.64 grams per tonne gold and 0.35% copper. A fourth hole intersected 0.57 grams per tonne gold and 0.23% copper over 47.24 metres, including 18.29 metres grading 0.90 grams per tonne gold and 0.30% copper, and also intersected footwall mineralisation of 0.19 grams per tonne gold and 0.19% copper over 45.72 metres.

The 4 holes were drilled on the western half of the Lucky Strike Zone to confirm and extend the higher-grade core area of mineralisation first identified with reverse circulation (RC) drill holes. Visible gold was encountered in the step-out hole drilled 100 metres to the south into an area with no historical drilling. The high-grade mineralisation was near the upper contact of the quartz monzonite and was associated with more intense silicification and brecciation than other higher-grade drill intercepts at the Lucky Strike and Sullivan Zones, and was flooded with sulphides and coarse visible gold.

Chief Exploration Officer of P2 Gold, Ken McNaughton, M.A.Sc., P.Eng., commented on the results:

"Hole GBD-021, a 100-meter step out to the south, is very exciting as it intersected coarse visible gold near the upper contact of the quartz monzonite which also hosts the higher-grade mineralization elsewhere at the Lucky Strike and Sullivan Zones. We believe the high-grade interval of 183 g/t gold and 4.0% copper over 1.52 meters represents a higher-grade pod near the outer limits of the main mineralized zone and we have planned additional drilling to better define the controls on this very high-grade mineralization. With three additional sub-parallel drill holes confirming and expanding the higher-grade core area in the western half of the Lucky Strike Zone, we continue to be very excited about the potential for Lucky Strike."

Geological Context

The available drill data confirms that the ore controls at Lucky Strike are the same as at the Sullivan Zone, where mineralisation is localised within and below a tabular unit of quartz monzonite underlain by pyroxenite. The higher-grade gold and copper at Lucky Strike are at the core of the zone and in restricted halos around subvertical structures, with gold-dominant mineralisation giving way to copper-gold mineralisation in the footwall of the main mineralised body. The deeper footwall mineralisation ranges from 20 metres to 60 metres in thickness and, with the main mineralised body ranging up to 75 metres thick, forms a zone with a combined thickness of up to 125 metres.

Since the start of the program in October 2025, a total of 67 RC drill holes have been drilled - 24 at the Sullivan Zone and 43 at the Lucky Strike Zone. The diamond drill has completed 32 metallurgical and slope stability geotechnical holes and 5 exploration holes to date. The Lucky Strike Zone remains open in all directions and, based on available current and historical drill data, has the potential to be significantly larger than the Sullivan Zone.

Next Steps

An RC drill has been mobilised to the site and will initially focus on expanding the higher-grade core area to the north and south. Additional drilling is planned from the same drill pad as the step-out hole to follow up on and refine the controls on the high-grade mineralisation. Once the western half of the Lucky Strike Zone is well defined, drilling will shift focus to expanding the mineralisation to the northeast and southeast. Upon completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate (MRE) for Gabbs will be prepared, expected in the third quarter of 2026. The updated MRE will form the basis of an FS to assess the placement of Gabbs into production, expected in the fourth quarter of 2026.

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