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UNION STAR METALS LIMITED
Symbol	PVWRF
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Union Star Metals Ltd (PVWRF) Multiple Datasets Highlights Large Concealed Gold Target at Cobb Creek, Ahead of Drilling

2026-06-01 23:42 ET - News Release

Perth, Australia, June 2, 2026 - (ABN Newswire) - Union Star Metals Ltd (ASX:USM) (OTCMKTS:PVWRF) announced that integrated gravity, geochemical and geological interpretation at the Cobb Creek Project in Nevada, USA, have defined a large, concealed gold target beneath shallow volcanic cover, where multiple independent datasets are converging, ahead of planned drilling.

Importantly, permitting for initial drill testing is now well advanced, DDIP geophysical surveys are scheduled to commence next month and drilling is targeted to commence during September 2026.

The emerging Central Concealed Target is defined by a prominent gravity low spatially associated with a donut-shaped thallium anomaly, surrounding historical gold and silver mineralisation and interpreted structural corridors within Nevada's highly prospective Independence Trend.

Highlights:

- Integrated geophysics defines large, concealed gold target at Cobb Creek

- Prominent gravity low coincides with donut-shaped thallium anomaly and surrounding gold and silver occurrences

- Shallow volcanic cover may have masked broader mineralised system from historical exploration

- Historical drilling across Cobb Creek averaged only ~100m depth and largely focused on shallow oxide mineralisation peripheral to the target area

- DDIP geophysical surveys scheduled to commence next month ahead of drilling targeted for September 2026

- Permitting for initial drill testing now well advanced

Central Concealed Target at Cobb Creek

Recent interpretation of gravity data acquired during 2025 has significantly strengthened the Company's confidence in the Central Concealed Target at Cobb Creek.

The target is defined by a prominent gravity low (Figure 1*) interpreted to potentially reflect hydrothermal alteration, structural disruption and/or concealed lithological variation beneath shallow post-mineral volcanic cover. Importantly, the gravity low spatially coincides with:

- a large donut-shaped thallium-in-soil anomaly (Figure 2*)

- interpreted intersections of major north-northeast and northwest trending structures

- multiple historical gold and silver occurrences surrounding the margins of the target area shallow andesite cover (Figure 3*)

The Company believes the convergence of these independent datasets significantly enhances the prospectivity of this target area and may indicate the presence of a broader concealed mineralised system beneath cover.

Cover May Have Masked the Broader System

The Central Concealed Target occurs beneath shallow post-mineral andesite cover interpreted to mask underlying mineralisation and gold-in-soil signature (Figure 3*).

Importantly, historical gold occurrences and shallow historical drilling are predominantly located around the margins of the interpreted volcanic cover and associated gravity low, while the central portion of the target area remains untested by drilling. This is highlighted by highly elevated gold and silver in rock samples including highlight result of 2 g/t gold and 337 g/t silver surrounding the central concealed target areas may indicate the outer margins of a buried system (Figure 3*; see ASX USM announcement 6 November 2025).

A circular thallium anomaly surrounding the gravity low is considered particularly significant, as thallium is commonly associated with epithermal and hydrothermal alteration halos in major Nevada gold systems (Figure 2*; see ASX USM announcement 6 November 2025).

The Company believes this relationship may indicate that historical exploration focused on exposed peripheral mineralisation to the south and east, while the concealed core of the broader hydrothermal system beneath cover and to the east remains an exciting untested drill target area.

Exploration Strategy Advancing Toward Drilling

The Company's exploration strategy remains focused on systematically advancing and prioritising targets through staged technical work prior to drilling.

Current workstreams include:

1. final planning for DDIP geophysical surveys

2. structural modelling and drill target refinement

3. environmental and cultural permitting activities for planned drilling programs.

The planned DDIP program planned for June is designed to further refine the geometry and potential depth extent of the Central Concealed Target ahead of drilling.

Initial drilling is currently targeted to commence during September 2026.

CEO Comment

Union Star Metals CEO Lucas Stanfield commented:

"What is becoming increasingly compelling at Cobb Creek is the way multiple independent datasets are now converging on the Central Concealed Target.

The relationship between the gravity low, donut-shaped thallium anomaly, shallow volcanic cover and surrounding historical gold and silver mineralisation is defining a highly prospective concealed gold target beneath an area that appears to have seen no historical drilling.

With permitting for initial drill testing now well advanced, DDIP surveys scheduled to commence next month and drilling targeted for September, we believe Cobb Creek is rapidly evolving into a compelling Nevada gold exploration story."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/BN11V60E

About Union Star Metals Ltd:

Union Star Metals (ASX:USM) (OTCMKTS:PVWRF) is an Australian-listed precious metals exploration company focused on gold and silver projects in Nevada and Idaho, USA.

The Company holds a portfolio of assets including the Cobb Creek Project in Nevada's Independence Gold Trend, together with the Colorado Gulch and Silverstar Projects in Idaho's Central Gold Belt.

Union Star Metals is advancing a staged exploration strategy across its US portfolio, targeting gold and silver mineralisation in established mining jurisdictions.

Contact:

 
Lucas Stanfield
CEO
+61 451 007 006
lucas.stanfield@unionstarmetals.com.au

Joe Graziano
Company Secretary
+61 411 649 551
joe@pathwayscorporate.com.au