VANCOUVER, British Columbia, Sept. 24, 2026 (GLOBE NEWSWIRE) -- ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) (the “Company” or “ESGold”) is pleased to provide an update on its 2026 diamond drilling program at the Montauban Project, located approximately 80 kilometres west of Québec City, Québec.
As of September 15, 2026, ESGold had advanced 19 drill holes for a cumulative total of approximately 2,030 metres, marking an important milestone in the Company’s 2026 exploration program.
Importantly, drilling continues to intersect alteration, quartz-carbonate veining and locally sulphide-bearing intervals within the geological environment associated with the historic Montauban mineralized system.
Observed sulphides to date include pyrite, pyrrhotite and galena, locally occurring within or adjacent to quartz-carbonate veins, altered gneissic units and structurally affected intervals.
Approximately 400 core samples have now been submitted to SGS Laboratories in Val-d’Or for analysis, with assay results pending.
“Passing 2,000 metres is an important milestone in our 5,000-metre program, but what is particularly encouraging for us is what we continue to see in the core,” said Gordon Robb, CEO and Director of ESGold. “We are repeatedly encountering alteration, quartz-carbonate veining and sulphide-bearing intervals within the geological environment associated with the historic Montauban mineralized system.
“With approximately 400 samples now at SGS Laboratories in Val-d’Or, the next step is determining the significance of what we are seeing. At the same time, drilling continues as we test how this system may extend beyond the historic workings and at depth. Every hole is giving us more information to integrate with the historic mine data, ANT geophysics and our 3D geological model.”
Highlights
- ESGold has completed approximately 2,030 metres across 19 drill holes as part of its planned 5,000-metre 2026 diamond drilling program.
- Drilling has repeatedly encountered alteration, quartz-carbonate veining and locally sulphide-bearing intervals within the geological environment surrounding the historic Montauban mineralized system.
- Observed sulphides include pyrite, pyrrhotite and galena, locally associated with quartz-carbonate veining, alteration and structurally affected intervals.
- Approximately 400 core samples have been submitted to SGS Laboratories in Val-d’Or for assay.
- Nine drill holes have intersected historic underground workings or voids, providing valuable geological control for reconciling modern drilling with the geometry of the former mine.
- Drilling remains ongoing as ESGold evaluates the potential continuation of the Montauban system outside and below the historic mine workings.
Sulphide-Bearing Intervals Observed in Drill Core
Core logging completed to date has identified repeated sequences of amphibolite and quartz-feldspar, biotite- and muscovite-bearing gneisses together with zones of silicification, chlorite-sericite alteration, deformation and quartz-carbonate veining.
Sulphides have been observed within or adjacent to quartz-carbonate veins, altered gneissic units and structurally affected intervals in holes including MM-26-03, MM-26-04 and MM-26-11.
These observations are significant from a geological targeting perspective because they provide direct information on the alteration, structural features and lithological contacts associated with the historic Montauban mineralized environment.
Visual observations are not necessarily indicative of economic mineralization and laboratory assays are required to determine metal grades.
Figure 1: 2026 drill-hole locations across the historic Montauban mine area
Figure 2: A) Hole MM-26-03, box 5 (20.42m to 24.68m); B) MM-26-04, boxes 7 and 8 (27m to 35m); C) MM-26-11, box 5 (23m to 27m); D) MM-26-11, box 23 (101.60m to 105.85m). Assay results are pending.
Testing Beyond the Historic Mine
The 2026 drill program is designed first to confirm the presence and continuity of mineralization along the main mineralized structure, and then to extend beyond the historical underground workings to test additional targets and potential extensions of the system. The drilling program is testing the geological interpretation developed from historical mine information, ESGold’s drillhole compilation, ANT surveys by CAUR Technologies, and 3D geological modelling by Geomatic World.
Each new drill hole provides direct geological information that can be incorporated into the evolving 3D model and compared with features interpreted through the ANT surveys.
Assays and Next Steps
Core logging, cutting and sampling are continuing as drilling advances toward the planned 5,000 metres.
Approximately 400 samples have been submitted to SGS Laboratories in Val-d’Or for analysis. Assay results will be reported as they are received, reviewed and validated under the Company’s QA/QC procedures.
The Company will use the combined geological, structural and assay information to refine the integrated 3D geological model, correlate new drilling with historical mineralized zones and underground workings, and prioritize additional shallow and deeper targets designed to test potential extensions of the Montauban system.
Next Steps
Core logging and sampling are continuing as the drilling program advances.
As part of this first exploration phase, the entire drill core is being sampled and analyzed to ensure that the maximum amount of geological and geochemical information is collected.
The Company intends to use the combined geological, structural and assay information to:
- refine the integrated 3D geological model;
- evaluate the relationship between mineralization, lithological contacts, alteration and structural features;
- prioritize additional shallow and deeper drill targets designed to test potential extensions of the Montauban system.
Laboratory assay results will be reported once received, reviewed and validated in accordance with the Qualified Person’s QA/QC procedures.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Merouane Rachidi, Ph.D., P.Geo., an independent Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ESGold Corp.
ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a fully permitted, fully funded, pre-production mining company advancing a scalable clean mining model across North America. The Company’s flagship Montauban Gold-Silver Project in Québec is under construction. 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.
For more information, please contact ESGold Corp. at 1-888-370-1059 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.
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For further information on the Company please contact:
Email: ir@esgold.com or info@esgold.com or gordon@esgold.com
Phone: 604-885-1348 or 1-888-370-1059 or 250-217-2321
On behalf of the Board of Directors of ESGold Corp.
Gordon Robb
Chief Executive Officer & Director
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements regarding the ANT survey, the 3D model, and current and future exploration activities and potential. Forward-looking information is based on reasonable assumptions believed to be current but involves known and unknown risks and uncertainties that may cause actual results to differ materially. Historical data referenced herein is not current, has not been independently verified by ESGold, and should not be relied upon for investment decisions. ESGold disclaims any obligation to update or revise forward-looking information except as required by law.
These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: a possible drill program and results therefrom and exploration activities at the Montauban Project, the ANT-based 3D geological model, its results and interpretation of the same, conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption “Risk Factors” in the Company’s continuous disclosure documents filed on SEDAR+ at www.sedarplus.ca.
Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5d89a957-9b14-4d79-840e-cc3ad60b2f6a
https://www.globenewswire.com/NewsRoom/AttachmentNg/4131a9b9-966b-412c-810b-4151d3176e2a
Drill hole locations across the historic Montauban mine area
Figure 1: 2026 drill-hole locations across the historic Montauban mine area
Drill cores Montauban mine area
Figure 2: A) Hole MM-26-03, box 5 (20.42m to 24.68m); B) MM-26-04, boxes 7 and 8 (27m to 35m); C) MM-26-11, box 5 (23m to 27m); D) MM-26-11, box 23 (101.60m to 105.85m). Assay results are pending
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