Mr. Carl Lofberg reports

FIREFOX GOLD ANNOUNCES DRILL PROGRAM AT THE SARVI PROJECT IN LAPLAND, FINLAND AND PROVIDES CORPORATE UPDATE

Firefox Gold Corp. has completed a small reconnaissance diamond drilling campaign at the company's 100-per-cent-held Sarvi project in Lapland, Finland. The Sarvi project shares an eight-kilometre tenement boundary with Rupert Resources' Area 1 project, which hosts the Ikkari gold deposit.

Firefox has just completed five shallow diamond core holes, totalling 887 metres, on the Keulakko permit, at the west end of the project. These holes were targeted to investigate an area where the Geological Survey of Finland (GTK) drilled two holes with anomalous gold results in 2009. The GTK historical drilling reports for the two holes include assayed intervals of 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). The geology in the area is believed to be dominated by Kittila suite volcanic rocks, which host the gold mineralization at the Kittila mine, but the area is covered by glacial sediments, so outcrop is rare. Firefox considers certain historical results, geological reports and assay data to be credible; however, as the work was completed by prior operators and the reports have not been independently verified by the company's qualified person, Firefox is unable to rely upon the data.

Firefox's chief executive officer, Carl Lofberg, commented: "We are very happy to be active again at the Sarvi project, immediately adjacent to the exciting Ikkari discovery. This target at Keula on the west side of the project has been attracting the attention of the technical team for some time because of the favourable structural setting, good indications from historical work and the widespread float of mineralized rocks. These drill holes cut fences across the stratigraphy so that we can verify the presence of good potential host rocks, which will further focus our program at Sarvi going forward. The team always looks for opportunities like this to efficiently employ drill rigs before they go on short breaks or when they become available unexpectedly. Our large drill campaign continues through the winter at Mustajarvi."

The Sarvi project

The Sarvi project is part of the company's large land package immediately north of Rupert Resources' Area 1 project (Ikkari deposit). The project includes the Sarvi group of permits (the central Sarvi exploration permit as well as Sarvi-2 immediately to the north and Keulakko permit adjacent to the west) plus the separate Lehto permit to the north for a total permitted area of 26 square kilometres. The Sarvi group covers a portion of the Kittila suite of volcanic rocks, which is cut by numerous breaks in the magnetics data, interpreted to be major faults and shear zones. The project is at an early stage; however, the geological understanding has been advanced through a compilation of detailed magnetics from both drone-based and ground surveys combined with almost 1,600 base-of-till (BoT) samples and a total of 2,938.8 metres of drilling before this small program.

As most of the southern half of the property is covered by glacial sediments and swampy ground, the company initiated systematic exploration in 2022 with BoT sampling and detailed magnetics surveys. In May, 2022, the company announced narrow drill intercepts of elevated gold and silver, along with arsenic, antimony, bismuth, tellurium, copper, molybdenum and zinc (see the company's news release dated May 27, 2022). In 2023, Firefox conducted a small drill program farther east on the Sarvi permit, where drilling encountered anomalous gold, but the narrow intercepts exhibited copper-silver dominant mineralization rather than gold (see the company's news release dated June 29, 2023).

This new target area is located a few kilometres west of Firefox's previous BoT sampling and drilling. The scarcity of outcrop in the area has resulted in limited mapping and surface sampling. However, company geologists collected some samples of gossanous float to subcrop in the vicinity with gold values over 0.1 gram per tonne. The detailed magnetic survey suggested the presence of features of interest, but the lack of outcrop limited the ability to ground truth the interpretation. The brief availability of a drill rig offered the opportunity to test below the overburden and better understand the stratigraphy, geology and geochemistry. The company looks forward to reporting the results in the coming weeks.

Corporate update

The company further reports that Joe Mullin has resigned from the board of directors, effective Nov. 19, 2025, in order to pursue a new opportunity.

Firefox chairman and co-founder Patrick Highsmith commented: "We wish Joe the best in his future endeavours. He was a founding director and we have valued his key input on strategy, finance and governance. It has been a pleasure to work with Joe, particularly during challenging markets when his big-picture understanding and business savvy was a calming and mature influence on the team. On behalf of the board of directors, I thank him for his years of service and support. The board is considering replacement candidates and will announce any changes in due course."

Qualified person

Mr. Highsmith, certified professional geologist (AIPG CPG No. 11702) and a 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 Stock 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 on a large portfolio of ground prospective for high-grade gold deposits. The delineation of multiple gold zones at the company's 100-per-cent-held Mustajarvi project is paving the way for the discovery of Finland's next major gold deposit.

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 CEO and technical team.

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