Mr. Alex Walcott reports

EVERGOLD UPDATES ON DRILLING AND EXPLORATION PLANS FOR GOLDEN LION IN TOODOGGONE, BRITISH COLUMBIA

Evergold Corp. has outlined its 2026 exploration program at the Golden Lion property, located in the Toodoggone district in British Columbia. The 2026 program, set to begin in June, represents a revitalization of Golden Lion, with a significant advancement of its GL1 gold-silver zone in the south and emerging copper potential in the north.

Highlights:

• First drilling at Golden Lion since 2021, with 4,000 metres in 12 holes planned;
• Drilling to focus on Golden Lion main zone (GL1), where final 2021 holes returned best-ever intercepts (GL21-024: 66 m of 1.36 grams per tonne gold and 11 g/t silver; GL21-025: 11.3 m of 5.4 g/t gold and 62 g/t silver) (see news release dated Nov. 16, 2021);
• Geophysics, geochemistry and mapping to target a large-scale copper system in the north;
• Drilling starts in June, with all contractors and technical staff committed.

Exploration program details

Drill program:

• 4,000 metres across 12 holes targeting extensions of the GL1's best-ever drill intercepts;
• Drilling will test a two-kilometre-long west-northwest-trending gold-silver-soil anomaly first outlined by Newmont;
• Holes will test the GL1 structure beneath peak geochemical values;
• Targets coincide with resistivity anomalies, which run parallel to known mineralized trends;
• Mineralization at GL1 comes to surface and has only been drilled to a depth of 250 metres;
• Mobilization scheduled for June, under the direction of project manager Taylor Quinn, MSc, who brings extensive Golden Lion and Toodoggone district experience.

Targeting a large-scale copper mineralizing system: Copper King

The northern Golden Lion property hosts a large, coherent copper-gold geochemical anomaly in an area previously referred to as Copper King, with features typical of porphyry-style mineralization, including:

• Highly anomalous copper-in-stream sediment samples collected across three adjoining drainages spanning roughly 30 square kilometres;
• Corroboration from three regional geochemical survey stream sediment samples collected by the provincial government in the 1990s from the same area, returning copper values in the 90th to 99th percentile for British Columbia;
• Provincial assessment reports from the 1970s documenting drill holes that encountered extensive copper mineralization from limited ridgetop drilling within the anomaly.

To advance copper-gold exploration in the Copper King area, Evergold plans the following work to run concurrently with its 2026 GL1 drilling:

• A property-scale MobileMT (mobile magnetotelluric) airborne geophysical survey to map conductivity features potentially associated with porphyry mineralization, combined with airborne magnetic surveying to complete geophysical coverage over the northern property;
• Geological mapping, prospecting, and soil and stream sediment sampling, focused primarily on the broad and underexplored northern area, with further delineation of existing anomalies in the south;
• Follow-up ground geophysical surveys (IP/AMT (induced polarization/audio-frequency magnetotelluric), 12 to 15 line kilometres) later in the season to better define potential mineralizing systems and structures.

Golden Lion property overview

The Golden Lion property, with the recently acquired Copper King inlying claims, now includes more than 12,500 hectares of mineral tenures. The Golden Lion claim block lies approximately nine kilometres north of Thesis Gold's road-accessible Ranch property, and 40 kilometres north of the Sturdee River airstrip. Although undocumented exploration dates as far back as the 1930s in this part of the Toodoggone district, little systematic exploration was undertaken on the property until Newmont's work between 1982 and 1984 culminated in 2,475 metres of diamond drilling. There was a further hiatus in systematic exploration (Evergold's work between 2019 and 2021), which included 4,825 metres of drilling. Almost all of the drilling on the property has been focused on the Golden Lion main zone (GL1), where the Claw Mountain fault, likely a reactivated syn-mineral feature, hosts intermediate-sulphidation epithermal mineralization. The GL1 zone is characterized by the presence of high-grade gold-silver intercepts hosted within a broad halo of lower-grade gold-silver. The structure, although poorly exposed, can be tracked across at least two kilometres at GL1 by anomalous gold-silver soil geochemistry and coincident lower resistivity, imaged in ground DCIP (direct-current induced polarization) surveys.

Consulting agreement

Further to its announcement of Feb. 13, 2026, the company wished to provide the following updates regarding the consulting agreement, dated Feb. 13, 2026, with Dylan Berg, pursuant to which the consultant will provide corporate advisory and investor relations services to the company.

Mr. Berg is a British Columbia-based consultant who provides corporate advisory, investor relations and communications services. Prior to entering into the agreement, Mr. Berg had no prior relationship with the company, and, as of the date hereof, Mr. Berg holds 43,478 shares of the company.

Pursuant to the agreement, Mr. Berg will provide the company with corporate advisory services for a term commencing on the date of the agreement and ending on June 30, 2026, including the following activities:

• Facilitating communications with existing and prospective investors;
• Advising the company on investor targeting and marketing strategies;
• Gathering market intelligence and advising the company on shareholder engagement and feedback;
• Providing general capital markets advisory services.

In consideration for the services to be rendered under the agreement, the company will pay Mr. Berg a monthly cash fee of $7,500 plus GST (goods and services tax).

This agreement is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

Qualified person statement

The technical information contained in this news release has been reviewed and approved by C.J. (Charlie) Greig, PGeo, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Evergold Corp.

Evergold is focused on advancing the Golden Lion project, its 100-per-cent-owned, gold-silver (copper) project in Northern British Columbia's prolific Toodoggone mining district. At the southern end of the Golden Lion project, at the GL1 main zone, previous drilling by the company, along with historical work, has outlined a near-surface, intermediate-sulphidation epithermal-style gold- and silver-bearing system with excellent potential for expansion along trend and downdip. The property was last explored by the company in 2021, when the final three holes yielded some of the most significant gold-silver intercepts ever drilled on the property (see news release dated Jan. 17, 2022). To the north of the GL1 main zone, the property also has copper potential that is clearly evident in historical data and which has been realized recently elsewhere in the district.

We seek Safe Harbor.