Mr. Wayne Livingstone reports

CARLIN GOLD'S IVY COPPER-GOLD PROJECT DC RESISTIVITY-IP SURVEY TARGETS IDENTIFIED

Carlin Gold Corp. has released results of the DC resistivity-IP survey on its 100-per-cent-owned Ivy skarn copper-gold project in northeastern Nevada, United States.

Geological mapping has identified an area approximately 1.6 kilometres long and up to 150 metres wide with zones of strong skarn alteration/mineralization containing predominantly fine-grained disseminated chalcopyrite and bornite with minor pyrite (Main Skarn zone, MSZ). The MSZ was targeted for IP geophysics testing shallow (up to 250 metres depth) prospective areas immediately under the MSZ and for any deeper causative bodies such as buried mineralized intrusions.

Zonge International, Inc. conducted the survey. Inversion modelling by Zonge identified a continuous IP anomaly with the 75-metre dipole spacing, coincident and under the MSZ at least 1,500 m long and 200 to 300 m wide. The anomaly is open on strike and at depth below 250 m. The deeper 200 m dipole survey showed that the IP anomaly detected with the 75 m dipole spacing continues to depth. The 200 m dipole survey also encountered a deeper (400 to 500 m) separate IP anomaly adjacent to and under the 75 m dipole anomaly. The 200 m dipole survey anomaly is open north and south of the surveyed lines.

Carlin Gold is reviewing the results and formalizing a drill program to test all priority anomalies.

Wayne Livingstone, president, commented: "Excellent mapping by Carlin's consulting geologist identified the MSZ leading to modelling the IP program to test for a buried copper mineralized skarn body and also the potential for a deeper buried causative source. Both IP testing models successfully produced drill targets. We look forward to drilling these large and continuous IP responses."

Carlin Gold has staked 53 additional claims to total 161 claims in the 100-per-cent-owned Ivy project, part of which is subject to a mineral royalty.

Additional information on the Ivy project and updates on the company's Cortez Summit project can be found in the company's website.

About Carlin Gold Corp.

In addition to the Ivy project, Carlin Gold controls two 100-per-cent-owned gold exploration properties in Nevada, the Cortez Summit property and Willow property, both containing Carlin-style gold targets. Cortez Summit lies about one kilometre northeast of the north end of Nevada Gold Mines' (NGM) Goldrush deposit containing an estimated 53 Mt (million tonnes) at 6.00 grams per tonne Au (gold) in the measured and indicated category for 10 Moz (million ounces) Au and 24 Mt at 5.5 g/t Au inferred for 4.5 Moz Au (reported in Barrick presentation September, 2025) and east of Barrick's newly updated Fourmile estimated resources containing 3.6 Mt of measured and indicated grading 11.8 g/t Au for 1.4 M oz Au and 14 Mt of inferred grading 14.1 g/t Au for 6.4 M oz Au (Barrick Sept. 16, 2025, press release). Robert Thomas, qualified person, has been unable to verify the information referenced above and that the information is not necessarily indicative to the mineralization on the property that is the subject to this disclosure.

Cortez Summit is contiguous with Barrick and NGM claims on all sides.

The Willow property is an early stage project in Elko county north of the town of Wells, Nevada. Willow is located within a potential new gold belt that contains the Long Canyon mine operated by NGM.

Robert Thomas, CPG, vice-president of Carlin and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release on behalf of the company.

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