Mr. Richard Masson reports

BOREAL GOLD ANNOUNCES ENCOURAGING GOLD RESULTS FROM KOSCIELNY LAKE AND A NEW GOLD DISCOVERY FROM THE FAY LAKE PROPERTY

Boreal Gold Inc. has received gold assay results from trench No. 6 on an island in the eastern area of Koscielny Lake, where several quartz veins occur on the most eastern part of the Fay Lake property south of the Puffy Lake gold mine. This vein has been trenched at a number of locations and this past fall; Boreal focused on sampling trench No. 6 on an island in Koscielny Lake. Boreal collected nine samples from trench No. 6 centred on a 1.5-to-two-metre-wide quartz vein on the island. Also collected was a sample of the quartz phyric tonalite which appears to be in close contact with the quartz vein showing. Six of the nine samples collected returned assays over 1.0 gram per tonne gold with notable samples 298802 assaying 5.7 grams per tonne gold and sample 298804 assaying 9.7 grams per tonne gold. Screen metallics analysis was used on all the quartz samples since coarse gold is present at this showing.

Several sites reported at Koscielny Lake contain significant gold. Here, mineralization contained values of up to 11.81 grams per tonne gold (0.38 ounce per ton gold) over one metre (J. Pearson, Sept. 4, 2024, National Instrument 43-101 Fay Lake technical report). Mineralized quartz containing pyrite and visible gold (VG in the lithologic descriptions) was intersected in six drill holes by A.L. Parres in 1950 (A.F. 90520) (Heine, 2003, mineral deposit series report No. 30).

A table of the gold assays from the nine quartz samples collected by Boreal in the fall of 2025 are shown in the table below.

Boreal plans to return to Koscielny Lake in the spring of 2026 and will focus on prospecting and sampling other showings, including trench No. 7 on the southern shore of Koscielny Lake slightly southwest of the island showing. The geology at Koscielny Lake is prospective for gold as it contains gabbro, felsic porphyry dikes, magnetite iron formation and mafic volcanic rocks and borders the Webb Lake pluton quartz phyric tonalite.

Fay Lake -- new discovery

Boreal is also pleased to announce a new gold discovery on the eastern extension of the Sunrise grid. Two quartz vein samples, containing vuggy pyrite, were collected near the eastern shore of Fay Lake. Sample 27497 and 27498 both returned gold assays greater than 3,000 parts per million (3.0 grams per tonne) gold using fire assay analysis. The SRC Laboratories of Saskatoon, Sask., has been instructed to run screen metallic analysis on these two samples to capture any coarse gold that may be present. Boreal is waiting for further gold results from this analysis. These samples are proximal to an undrilled airborne electromagnetic conductor with a coincident magnetic anomaly located within Fay Lake.

North Star/Gold Rock property (main focus)

With gold presently over $4,000 (U.S.) and over $5,500 (Canadian) per ounce, Boreal will continue its focus on gold by also exploring the North Star property this fall that was recently optioned from Voyageur Mineral Explorers Corp. (see April 17, 2025, news release).

Since 2003, the North Star Group property became an advanced exploration property, where more than $9-million has been spent on it in the past 20 years with the following work completed:

• Five major drilling programs, 135 drill holes at North Star and 143 drill holes at Gold Rock;
• Ramp access and underground development and sampling;
• Large-surface blast-hole sampling and trenching, together with extensive assaying for gold, trace elements and whole-rock geochemistry; average grade from blast holes and trench faces was over 0.35 ounce per ton gold (Foran Mining Corp. press release dated April 16, 2003); gold on April 16, 2003, was $332.60 (U.S.) to $333.40 (U.S.) per ounce. compared with over $3,600 (U.S.) per ounce or greater than $5,000 per ounce (Canadian) today;
• Extensive metallurgical testing at Lakefield established 85-per-cent recovery of gold by gravity alone; LR10572-002 progress report No. 1 (Foran Mining press release dated May 3, 2003)'
• A large grid covers the gold shear with mapping, prospecting and geophysical surveys carried out; the shear is still open to the north and south and the grid can be extended to follow the shear on strike (unexplored); the shear zone in between the Gold Rock and North Star deposits has seen little drilling;
• There is a two-kilometre all-weather road to the North Star site as well as 15 kilometres of the Dickstone road being brought back to all-weather-road status with creek crossings improved and adjoining swamps lowered to improve road quality plan for this summer;
• Numerous environmental surveys were completed, including ungulate, rare plant, raptor, fish surveys and other surveys required for the establishment of tailings facilities;
• A digital topographical airborne survey was carried out over the main area of the vein and potential areas for tailings disposal and water intake;
• Camp site and storage areas were established and permitted; these permits are still valid, as is the road permit; a mill foundation, a concrete slab shop floor and a water waste disposal pond were completed;
• A VTEM (versatile time-domain electromagnetic) survey was carried out over the entire claim group in 2010.

Since 2007 to 2017, the property was extensively explored by mapping, prospecting and drilling (143 diamond drill holes), where Copper Reef Mining Corp. (subsequently Voyageur Mineral Explorers) concentrated on the northern portion of the structure (Gold Rock and Richard veins). Here, the Gold Rock vein was further outlined by mapping and four drill programs to be at least 400 metres long and the new Richard vein to be 50 metres. Since 2018, the property has remained idle. Boreal Gold plans to continue where Copper Reef left off on expansion of the Gold Rock vein along strike and at depth as well as new targets on the North Star vein on the same structure to the south. A drill plan for Gold Rock has already been outlined, with targets on North Star and the area in between to be contingent on this fall's results. For a more detailed description of the property, please refer to the news release dated April 17, 2025.

Planned program

Line cutting and refurbishing old grids

Most of the refurbishing and recutting on the grid from north of the North Star deposit on Line 46N to Line 59N between Baseline 46E and Tie Line 59E for both mapping and drilling purposes have been completed this fall and the remaining lines will be completed in the spring and summer of 2026. This portion of the grid is almost 25 years old and overgrown to obliterated as it was cut a few years after a forest fire.

Geological mapping, prospecting and sampling

The grids from lines 59+50N south to 46N will require geological remapping and detailed sampling to bring it up to the standard and detail of the northern grids that cover the Gold Rock and Richard veins, with special emphasis on the section in between the North Star and Gold Rock deposits. This will occur during the spring and summer of 2026. During the late fall, line cutting and refurbishing of the old grids, Boreal had the opportunity to collect 12 samples from the muck pile where blasted material from nearby trenches was piled and stored as well as blasted quartz vein material from the underground development and bulk sample extracted in the spring of 2004 by Foran Mining. The underground sample from the 100-foot vertical level averaged 0.29 ounce per ton gold in the north part of the sill and 0.27 ounce per ton gold in the south part of the sill (Foran Mining press release dated May 25, 2004). The 12 samples of quartz vein material collected by Boreal were sent to SRC Laboratories in Saskatoon, Sask., for screen metallic analysis and results are pending.

Drilling

Selective infill drilling as well as down-plunge drilling on the Gold Rock vein is planned, with a view of completing a resource estimate and an NI 43-101-compliant technical report (never undertaken). Ultimately, the plan is to drill off enough tonnes that the combined resource of the North Star and Gold Rock vein structures, with sufficient grade, will warrant to bring it to a prefeasibility study. Even if successful on the first pass, this objective will require a few additional drill programs.

Qualified person

Stephen L. Masson, MSc, PGeo, is the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, for these properties, has reviewed and approved the technical disclosure contained in this news release. Mr. Masson acts as a consulting geologist for the company.

About Boreal Gold Inc.

Boreal Gold is a Canadian junior mineral exploration company with a specific focus on mineral properties in northwestern Manitoba and northeastern Saskatchewan, Canada. All of the issuer's properties are currently at the exploration stage. The issuer has assembled a portfolio of base metal and precious metal prospects in strategic locations in the provinces of Manitoba and Saskatchewan.

We seek Safe Harbor.