Toronto, Ontario--(Newsfile Corp. - October 7, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the "Company" or "Galleon Gold") announces assay results from four step-out holes drilled around the high-grade core of Zone #9 at its 100%-owned West Cache Gold Project (the "Project" or "West Cache") in Timmins, Ontario. All four holes intersected gold mineralization, including 2.52 g/t Au over 26.5 m in WC-26-246, showing that the high-grade core of Zone #9 sits within a broad mineralized envelope that extends well beyond the high-grade intercepts reported earlier this year.

The 2026 drill program has now delivered a more fulsome picture of the Zone #9 story: high-grade intercepts at depth, including 16.07 g/t Au over 9.25 m in WC-26-237 and 6.8 g/t Au over 19.45 m in WC-26-241, and, with today's results, a broad envelope of gold mineralization surrounding them. Together, these results are building the drill density and geological continuity needed to model Zone #9 at depth.

Highlights

• WC-26-243 with 1.56 g/t Au over 7.0 m including 4.72 g/t Au over 1.9 m
• WC-26-245 with 1.07 g/t Au over 28.5 m including 5.32 g/t Au over 1.9 m
• WC-26-246 with 2.52 g/t Au over 26.5 m including 4.02 g/t Au over 7.0 m and including 4.28 g/t Au over 8.0 m
• WC-26-247 with 1.01 g/t Au over 18.5 m including 2.21 g/t Au over 3.0 m
• All four holes intersected gold mineralization surrounding the Zone #9 high-grade core defined by WC-26-237, WC-26-239 and WC-26-241 (16.07 g/t Au over 9.25 m; 6.25 g/t Au over 10.2 m; 6.8 g/t Au over 19.45 m)
• Zone #9 has now been traced over more than 500 m of vertical extent

"Our goal with these four holes was to test how far gold extends around the high-grade core we drilled earlier this year, and every hole hit," said David Russell, CEO & President. "Intervals such as 2.52 grams per tonne gold over 26.5 metres tell us the high-grade results at the 450 m elevation in holes 237, 239 and 241 sit inside a much larger mineralized system, not an isolated pod. Hole by hole, the 2026 program is giving us the drill density and continuity that resource modelling depends on, and Zone #9 remains open both up-dip and down-dip of the results reported today. We look forward to incorporating these results into our future resource work at West Cache."

Purpose of the Drill Holes

The four holes announced today were designed to test the area around the high-grade Zone #9 results at the 450 m elevation in WC-26-237, WC-26-239 and WC-26-241, which returned 16.07 g/t Au over 9.25 m, 6.25 g/t Au over 10.2 m and 6.8 g/t Au over 19.45 m, respectively (see news releases dated May 27 and July 30, 2026).

The holes intersected Zone #9 approximately 45 to 80 metres outside of the high-grade core (Figure 1), stepping out from previously reported intercepts to test the projection of the mineralized envelope and to assist with modelling of the plunge interpretation. Every hole intersected gold mineralization and the recognizable structural and mineralogical features of the Zone #9 horizon.

Summary of 2026 Zone #9 Drilling

• May 21, 2026 - WC-26-234 and WC-26-235 confirmed grade continuity below and west of the planned bulk sample stopes at the 180 m to 220 m elevation, including 5.13 g/t Au over 9.97 m within a broad intercept of 3.00 g/t Au over 18.75 m
• May 27, 2026 - WC-26-237 intersected 16.07 g/t Au over 9.25 m within 4.07 g/t Au over 40.9 m, approximately 275 m down-dip of the planned bulk sample stopes at the 450 m elevation, in an area not previously tested by drilling.
• July 15, 2026 - WC-26-238 and WC-26-240 extended the Zone #9 corridor to more than 500 m of vertical extent and outlined a 150 m plunge extent around the deeper high-grade core.
• July 30, 2026 - WC-26-239 and WC-26-241 confirmed the high-grade core, including 6.8 g/t Au over 19.45 m within 4.72 g/t Au over 29.05 m.
• Today - WC-26-243, WC-26-245, WC-26-246 and WC-26-247 outline the broader mineralized envelope surrounding that deeper core from the 400 m to 530 m elevation.

Consistent with the Company's 2026 objective of infill and step-out drilling to further define the existing resource and potentially convert and expand gold ounces, results from the 2026 drill program are expected to be incorporated into future resource modelling at West Cache. The Company is currently drilling hole WC-26-268 and has completed 36 holes since the beginning of the 2026 drill program in March.

Figures and Tables

Figure 1 shows the pierce points of holes WC-26-243 to WC-26-247 relative to the Zone #9 high-grade core at depth and the planned bulk sample area near surface. Figures 2 and 3 show cross-sectional views of Zone #9 and the 2026 drill hole locations, and Figure 4 shows mineralized drill core from drill hole WC-26-246. Table 1 outlines the composited assay intervals and estimated true thicknesses for the holes reported today.

Table 1 - Assay Results

Figure 1 - Pierce Point View of WC-26-243 to WC-26-247 Intercepts

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1014/317848_af366574c47259fa_001full.jpg

Figure 2 - 3D Cross Sectional View of WC-26-243 to WC-26-246 Intercepts and Bulk Sample Area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1014/317848_af366574c47259fa_002full.jpg

Figure 3 - 3D View of High-Grade Mineralization in Zone #9 and the West Deep

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1014/317848_af366574c47259fa_003full.jpg

Figure 4 - Core Photos of Gold Mineralization in WC-26-246

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1014/317848_af366574c47259fa_004full.jpg

Technical Content and Qualified Person

The technical content of this news release has been reviewed and approved by Leah Page, P.Geo., Vice President, Exploration and a Qualified Person ("QP") as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Quality Assurance (QA) / Quality Control (QC)

Quality Control and Assurance procedures and protocols are executed to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Core produced at the West Cache Property is delivered to the Company's Timmins logging facility by the drill contractor with all logging, cutting, labeling, and bagging completed under supervision of Qualified Geologists. NQ sized core is predominantly sawn in half with one half of the core prepared for shipment, while the other half is retained for future assay verification.

Core samples are transported from the Company's Timmins logging facility to AGAT Laboratories in Thunder Bay, Ontario for both prep and 30g fire assay analysis. Results are reported in batches of 60-72 samples and average 4-5 QC samples per certificate. Commercially prepared certified reference material (CRM) and duplicate samples are inserted at an average rate of 6% to 8%. At least one blank, standard and duplicate (pulp or coarse) is inserted for every 50 samples and additional QC samples are inserted at the Geologist's discretion. All samples reported have been checked against the Company's internal, and the Lab's, quality control samples.

About the West Cache Gold Project

The West Cache Gold Project is an advanced-stage gold exploration project covering approximately 11,600 ha located 13 km west of Timmins, Ontario on Provincial Highway 101. It is situated in the Western Porcupine Gold Camp along the Destor-Porcupine Fault Zone within the Abitibi greenstone belt, approximately 7 km northeast of Pan American Silver's Timmins West Mine. The mining lease area hosts the current Mineral Resource Estimate near the center, with additional exploration targets to the north and south. The Mineral Resource Estimate is contained within the Porcupine Sedimentary Basin, a favourable litho-structural corridor with over 5 km of strike-length on the Property. Mineralization is open in all directions and at depth.

About Galleon Gold

Galleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to unlock long-term shareholder value.

Forward-Looking Statements

This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, financing plans, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding the use of the proceeds of from the Facility, the sufficiency of funds to complete and the completion of the potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317848