Mr. Carl Lofberg reports

FIREFOX GOLD PROVIDES A SUMMARY OF UPCOMING WORK AT ITS MUSTAJARVI, SARVI AND JEESIO PROJECTS ALONG WITH A CORPORATE UPDATE

Firefox Gold Corp. has provided an update on the exploration program for the company's 100-per-cent-held Mustajarvi, Sarvi and Jeesio gold projects in the Lapland greenstone belt of northern Finland.

The company also reports that geologist John Robins has joined the company in an advisory capacity. Mr. Robins's outstanding strategic guidance, technical expertise, strong industry relationships and steadfast adherence to ethical practices underpin his status as a leading steward of the junior mining industry. He joins other key advisers to the company, such as Dr. Richard Golfarb, to assist the board and management with technical and strategic planning and decision making.

Fieldwork is ramping up rapidly, and the technical team of staff and consultants is expanding to support the work. In addition to the continuing drilling at Mustajarvi, Firefox has commenced the first phase of detailed fixed-loop electromagnetic (FLEM) geophysical surveys at the East zone of the Mustajarvi project. The company is also building toward winter drilling at the Sarvi and Jeesio projects. The next phase of work at Sarvi and Jeesio will involve detailed ground magnetics, base-of-till (BoT) sampling and other surface exploration.

Carl Lofberg, Firefox's chief executive officer, commented: "Our team is executing on several fronts at the moment, focused primarily on drilling support and geophysics. The new FLEM work at the East zone will facilitate stepout drilling eastward from the known high-grade zone, a key part of the 10,000-metre drill program. Our Sarvi project is at an early stage, so we are looking forward to completing additional drilling on this prospective property situated immediately north of Rupert Resources' Lapland project and Ikkari deposit. At the large Jeesio project, our near-term goal is to refine new drilling targets associated with a northwest-trending fault that is associated with high-grade gold in rock chips in the southern part of the property."

The company's chairman, Patrick Highsmith, discussed the new addition to the Firefox team: "We are delighted to have John Robins join our panel of advisers. John has already made an impact at Firefox with his encouragement and commitment to geology and drilling, but perhaps the biggest benefit of working with John is our shared interest in recruiting and developing young geoscientists. Our team continues to benefit from the mentorship and guidance from senior technical advisers like John."

Program details

The purpose of the detailed FLEM survey at Mustajarvi is to identify new drill targets for high-grade gold that may be associated with highly conductive rocks continuing toward the northeast from the East zone near-surface high-grade occurrence.

The FLEM survey at the East zone will blanket cover most of the eastern part of the Mustajarvi permit with 20-metre-spaced stations along 60-metre-spaced lines for a total of 108 surveyed stations. The FLEM method utilizes an electrical source loop to induce current into the ground, and three directional components of the electromagnetic field are measured during data collection. Firefox has confirmed by diamond drilling that the conductor targets identified by a previous FLEM survey correlate well with intersected sulphide mineralized zones (see company's news release dated Feb. 20, 2025). Finnish geophysics provider GRM-services Oy is conducting this survey with data interpretation being provided by Markku Montonen, senior geophysicist at Magnus Minerals Oy. Magnus is a Finnish prospect generator company with strong expertise in the Lapland greenstone belt, which is also a long-term partner of Firefox. The results of this first phase FLEM survey are expected by mid-September.

The team is planning additional FLEM surveys at the Mustajarvi East and Pikkulehto target areas later this fall and early winter season.

Preliminary targets for reconnaissance drilling at the western end of the Sarvi permit are based on historical drilling reports from the Geological Survey of Finland (GTK). In 2009, the GTK drilled two holes on the western part of the Sarvi project. Assays from the two historical holes reportedly include 1.6 metres averaging 1.1 grams per tonne gold from 26.4 metres depth (drill hole M371209R5) and 0.5 metre averaging 3.57 grams per tonne gold from 69.5 metres depth (drill hole M371209R8). Firefox believes these data to be reliable, but the drilling was carried out by previous operators and has not been independently verified by the company's qualified person. The reported intervals are core lengths and true thickness has not been estimated at this time.

The Sarvi property has seen limited BoT sampling, mapping and geophysics, and the technical team is evaluating next steps on this new target, which is to the west of all previous sampling and drilling. It is important to understand the context for these historical intercepts, so the team may conduct additional sampling or target validation work in the area or proceed with limited reconnaissance drilling, which will depend on drill rig availability.

The Jeesio project will be the site of a detailed ground magnetic survey and BoT sampling campaign later in the year. The interpreted northwest-trending fault cutting across the southern and western parts of the property is potentially significant. The fault cuts through apparently deformed magnetic rocks as well as a large area of magnetic lows. Firefox plans to execute a detailed ground magnetic survey over the western portion of the property where the fault cuts through magnetic rocks. Firefox geologists are also planning a program of BoT sampling and reconnaissance drilling in the area that ties together the Katajavaara and Saittavaara prospects.

Corporate update

In association with a new adviser and consultants joining the team, Firefox also announces that it granted 2.08 million stock options on Sept. 1, 2025, to officers, directors, employees, advisers and consultants of the company at an exercise price of 60 cents. The options were issued at a premium to the closing share price on the trading day preceding the stock option grant (58 cents). The stock options have been granted pursuant to company's stock option plan and will expire five years from the date of grant.

Qualified person

Patrick Highsmith, certified professional geologist (AIPG CPG No. 11702) and director of the company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed and approved the technical information in this news release.

About Firefox Gold Corp.

Firefox Gold is listed on the TSX Venture Exchange under the ticker symbol FFOX. Firefox also trades on the OTCQB Venture Market in the United States under the ticker symbol FFOXF. The company has been exploring for gold in Finland since 2017, where it holds a large portfolio of prospective ground.

Finland is one of the top mining investment jurisdictions in the world, as indicated by its multiple top-10 rankings in recent Fraser Institute surveys of mining companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and Firefox is proud to have a Finland-based chief executive officer and technical team.

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