Mr. Rupert Williams reports

NORTH PEAK'S FOLLOW-UP CHANNEL SAMPLING IN LOWER DEAN CAVE COMPLEX REVEALS FURTHER HIGH-GRADE GOLD, UP TO 180 G/T AU, 998 G/T AG AT THE PROSPECT MOUNTAIN MINE COMPLEX

North Peak Resources Ltd. has released results from follow-up sampling within the Dean Cave complex at its Prospect Mountain (PM) property in Eureka, Nev.

Following the company's press release on May 27, 2025, where the company reported high-grade oxide mineralization in the Dean Cave area grading up to 46.5 grams per tonne (1.36 ounces per ton) gold and 569 grams per tonne (16.6 ounces per ton) silver, further channel sampling was undertaken in the East Cave area on the 650-foot level, approximately 46 metres (150 feet) below the previously announced samples, and encountered multiple narrow, high-grade gossanous zones within a zone of heavily altered dolomite, including:

• 180 g/t (5.8 ounces per ton) Au, 998 g/t (32 ounces per ton) Ag, 7.8 per cent lead and 1.05 per cent zinc over 0.1 metre;
• 66 g/t Au, 371 g/t Ag, 2.85 per cent Pb and 3.74 per cent Zn over 0.16 m;
• 49.5 g/t Au, 402 g/t Ag, greater than 20 per cent Pb and 0.64 per cent Zn over 0.09 m;
• 27.3 g/t Au, 132 g/t Ag, 1.9 per cent Pb and 2.9 per cent Zn over 0.1 metre.

Only the gossanous zones were sampled in this sampling pass; given the high-grade nature of these zones, the rest of the altered dolomite will be sampled to give better indications of potential historical grades from these old stope areas. The mineralization here appears strongly structurally controlled by the intersection of two fault systems, giving a plunge direction to explore for further mineralization along. This cave can be directly accessed by the Silver Connor portal from the west side of the mountain.

"These further high-grade results continue to demonstrate the strength and potential of this property. Our geology team has been utilizing Prospect Mountain's extensive and accessible underground workings to build a greater understanding of the complex structural controls to mineralization," commented Rupert Williams, chief executive officer. "We expect our summer 2025 drill program to commence in September, with a plan to target several different structural control systems and will consider targeting this area with an additional RC [reverse circulation] drill hole from surface."

"The company's understanding of the complex structural controls to mineralization is rapidly advancing, increasing the likelihood of effectively targeting new zones of mineralization, as has successfully been done elsewhere in the Eureka camp," added David Pym, lead geologist. "These samples reinforce our exploration strategy of looking at the property from three perspective target areas: the near-surface oxide, underground oxide and the underground sulphide."

Background to the areas

The Dean Cave complex was one of the last areas to be mined in the historic Diamond mine, with sporadic activity continuing into the 1980s. The ore in carbonate replacement deposits often occurs in vertical chimneys and layer parallel mantos. The Dean Cave area is one of a series of historical high-grade chimney stopes in the northern part of the Diamond mine, known as the Dean Cave complex, which include the DMEA/Deadbroke chimney and the East Cave chimney. The Deadbroke/DMEA chimney extends from surface down to at least 400 metres and the Dean and East Cave chimneys have only been exploited from underground and extend for at least 100 metres upward from the historic 650 level of the mine. At depth, they appear truncated by the west-dipping Dominic fault, which may displace their depth extents. The chimney zones occur along an east-northeast-trending fracture zone parallel to the Silver Connor fault near the intersection with steeply dipping northwest fault zones associated with the Banner McIntosh fault system and represent an underground oxide exploration target with high potential for further mineralization, both toward surface and to depth. The Dean Cave stopes for which the company has production records averaged 0.229 ounces per ton (7.8 g/t) Au and 5.83 ounces per ton (200 g/t) Ag from 291 ore cars (Silver Viking Corp., 1980, map DM0-08). Note: These records are historical and have not been verified.

The DMEA refers to the area that was briefly mined around 1954 following a loan being granted by the Defense Minerals Exploration Administration for development costs. Material generated averaged 0.69 ounces per ton Au, 50.5 ounces per ton Ag and 29.4 per cent Pb. The Deadbroke area is around 500 metres south of the Wabash/Williams historic mining area, where the 2024 drill program was focused, and at surface a number of patented claims sit, which are owned 100 per cent and include Old Put and Antelope.

Review by qualified person, quality control and reports

David Pym, CGeol, consulting geologist for the company, is the qualified person, as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The qualified person has not reviewed the mineral tenure nor independently verified the legal status and ownership of the property or any underlying property agreements.

Samples in this case are channel samples taken from outcrops in historic stopes and caves. Samples are loaded into a plastic crate and dispatched daily to the ALS Global prep lab in Elko, Nev. A standard, a blank and a field duplicate were inserted after every 20 samples for a quality assurance/quality control rate of 15 per cent. Six standards from CDN Resource Laboratories were rotated through the samples. The standards had gold values ranging from 0.433 to 7.34 parts per million.

Samples are dried crushed and pulverized and assayed for gold with a 30-gram fire assay and a 44-element ICP MS suite. Overlimit samples for gold, silver, lead, zinc and copper are automatically reassayed by suitable methods.

About North Peak Resources Ltd.

The company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol NPR and the OTCQB under the symbol NPRLF. Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.

North Peak's flagship property is the Prospect Mountain mine complex, which lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka gold belt, where three styles of mineralization have been identified: gold-silver Carlin-style mineralization, carbonate replacement gold-silver-lead-zinc mineralization (CRD) and carbonate-hosted porphyry-related skarn lead-zinc-gold mineralization associated with Cretaceous intrusions. At the property, the CRD mineralization is heavily oxidized to depths of at least 610 metres (2,000 feet) below the top of the ridge line.

A plan of operations is in place, which covers part of the property and entitles an operator to pursue surface exploration (totalling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works. A more complete description of the property's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 technical report on the Prospect Mountain property in Eureka county, Nevada, United States, dated and with an effective date of April 10, 2023, prepared by David Pym, MSc, CGeol, of LTI Advisory Ltd. and Dr. Toby Strauss, CGeol, EurGeol, of Merlyn Consulting Ltd., which has been filed on SEDAR+ under the profile of the company and on the company's website.

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