Mr. Gordon Robb reports

ESGOLD ADVANCES TOWARD PRODUCTION AND EXPLORATION DRILLING AS MILL BUILDOUT PROGRESSES IN PARALLEL

Esgold Corp. is advancing on multiple key fronts at its Montauban gold-silver project in Quebec, with drilling preparations, district-scale exploration and mill development all progressing concurrently as the company moves toward anticipated operations in 2026.

Drill permits have now been formally submitted to the Quebec government, with the company targeting the commencement of drilling in May, 2026. At the same time, Esgold's expanded 70-square-kilometre ambient noise tomography (ANT) survey is actively under way, and all major mill equipment has been secured and is currently in fabrication with completed equipment deliveries continuing to site.

Drilling program advancing toward early start

The company is preparing to initiate a targeted drill program designed to test high-priority zones identified through its evolving geological model. The program will include definition drilling of the surface crown pillar to better characterize near-surface mineralization, with the objective of supporting future resource estimation work. In parallel, drill targets have been developed through the integration of recent geophysical data, including ANT imaging, historical drilling and detailed structural interpretation. This program represents the first time the Montauban system will be systematically drill tested using modern exploration techniques and an integrated geological framework informed by advanced data and analysis.

Historically, drilling at Montauban was largely focused on shallow mineralization and conducted without the benefit of modern geophysics or a comprehensive understanding of the broader structural system. With permits submitted and planning well advanced, Esgold is now positioned to transition from interpretation to targeted execution, applying current best practices to test continuity, thickness and potential extensions of mineralization across the system. Stepout drilling will also target interpreted zones where the model suggests mineralization may widen and remain open, providing an opportunity to evaluate the broader scale of the Montauban system.

Expanded ANT survey in progress with results to update 3-D model

The company's expanded ANT survey is currently in progress across approximately 70 square kilometres of its Montauban land package, representing a sevenfold increase over the initial 10-square-kilometre survey completed in 2025.

Geophone pods have been deployed across the property and are expected to remain in place through mid-April, 2026, after which collected data will be processed and integrated into the company's broader 3-D geological model.

The initial ANT survey identified mineralized architecture extending to approximately 900 metres in depth and over at least two kilometres of strike. The system appeared to widen at depth and remained open at the limits of the original land package.

The current program is designed to determine whether this mineralized corridor continues across the broader land package and to further define the scale and structural framework of the Montauban system.

Mill equipment secured with fabrication and delivery under way

In parallel with the exploration and drilling preparation, Esgold has secured all major components required for the Montauban mill circuit. Letters of credit have been submitted to equipment manufacturers and fabrication is currently under way with selected vendors.

Deliveries of key processing equipment are continuing and are expected to continue arriving on site as the company advances toward mill buildout and commissioning.

CEO commentary

"We've been working aggressively behind the scenes to bring all of these pieces together, and we are now entering a phase where that progress becomes visible," said Gordon Robb, chief executive officer of Esgold.

"Drill permits are in, our expanded ANT survey is actively collecting data across a much larger footprint, and all major mill equipment has been secured and is moving through fabrication and delivery. These are foundational steps, and they are all advancing at the same time. What is particularly exciting is how these initiatives come together. We are moving toward production while, in parallel, expanding our understanding of what we believe could be a much larger system. The initial work has already shown depth and continuity well beyond what was historically recognized. With the next phase of ANT results and the start of drilling, we will begin to test and define that potential more directly.

"We are fully funded to execute on this plan, and our focus is on disciplined execution across both development and exploration as we move through what we believe will be a very important period for the company."

The company's approach is to move forward methodically, with each step building on the last, as it works toward both near-term production and the continued expansion of its geological understanding.

Why this matters to investors

This update reflects a critical stage where multiple value drivers are advancing in parallel. Esgold is progressing toward near-term production with all major mill equipment secured and fabrication under way, while simultaneously expanding exploration across a significantly larger portion of its land package.

The company's initial 3-D geological model demonstrated a system extending to depth and remaining open along strike. The current and expanded 70 square km ANT survey is designed to determine the extent of that system, with results expected to inform both drilling and long-term development strategy.

With drilling targeted to begin in early May, 2026, and ANT data integration to follow shortly thereafter, Esgold is entering a period of continuous milestones across exploration and development. This combination of near-term production and systematic district-scale evaluation positions the company to generate both operational progress and exploration upside over the coming months.

About Esgold Corp.

Esgold is a fully permitted, fully financed, preproduction mining company advancing a scalable clean mining model across North and South America. The company's flagship Montauban gold-silver project in Quebec is under construction with operations anticipated in 2026. With a dual-track strategy of cash flow today and discovery tomorrow, Esgold is building a platform for clean, sustainable growth and long-term shareholder value.

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