Mr. Rupert Williams reports

NORTH PEAK COMMENCES DIAMOND DRILLING AT PROSPECT MOUNTAIN, EUREKA, NEVADA FOLLOWING TECHNICAL REVIEW OF MT ANOMALIES

Diamond drilling has commenced at North Peak Resources Ltd.'s 100-per-cent-owned Prospect Mountain mine complex in Eureka county, Nevada, to further investigate the property's magnetotelluric (MT) geophysical anomalies. Initial drilling is focused on the previously identified main sulphide anomaly, with targeting refined through a property-wide integration and reinterpretation of the available geophysical data.

A single diamond drill hole PM23-001, completed in 2023, intercepted narrow zones of massive sulphide mineralization grading up to 9.5 per cent Zn (zinc), 221.6 g/t (grams per tonne) Ag (silver) over 1.0 metre and 7.3 per cent Zn, 54.6 g/t Ag over 1.9m within the interpreted geophysical anomaly (see the company's press release dated February 12, 2024). The high zinc, and relatively low gold and lead values suggest that this area of the anomaly may be peripheral to a mineralized core, consistent with the metal zoning observed in the historical surface workings.

Further interpretations have been undertaken to combine the airborne geophysical data with various ground surveys to provide a better 3-D distribution of the geophysical anomalies, some of which will be tested with the 2026 diamond drilling. The new interpretation refines the position of the MT anomaly in 3-D space and potentially explains why the 2023 hole intercepted peripheral style mineralization. The refined anomaly extends along a similar strike to the original anomaly of greater than 1.5 kilometres and lies parallel to the Silver Connor fault, which has previously been associated with high-grade gold mineralization at the intersection of other faults (see the company's press release dated Oct. 15, 2025). The new interpretation moves the center of the anomalies westward and is well supported by both the structural interpretation and other geophysical surveys, including IP and gravity. A further anomaly is also present on the northern section of the property, and this position is unchanged following the review.

"With such a large geophysical response, refining targeting is very important. Our understanding of the controls on mineralization has improved dramatically with the detailed exploration work over the last three years. With the revised groundworks now complete, we are pleased to have core drilling under way at Prospect Mountain, testing both the refined potential sulphide geophysical target at depth and oxide targets associated with the Silver Connor fault, which we believe is an important control for mineralization on the west side of the mountain," stated Rupert Williams, chief executive officer.

Following the review, the company revised the planned drill collar locations and hole orientations that would allow a diamond drill rig to test the original and revised interpretation and associated fault intersections more directly. Related site work, including regrading access roads to improve water haulage to the drill pads has been completed allowing diamond drilling to commence.

As announced in the company's Aug. 10, 2026, press release, the 2026 drill campaign began with reverse circulation (RC) drilling in the Lower PME area on the east side of the mountain, targeting the Hamburg Dolomite and Dunderberg Shale contact, a regionally important stratigraphic horizon for gold mineralization in the Eureka camp. The zone sits proximal to the McEwen Mining boundary, where the Rustler and Windfall historic mines were located. This RC rig is expected to move over to the west side of Prospect Mountain later this month.

Groundworks continue along the mountain ridge providing drill access across most of the ridge for the first time and the company remains hopeful that a second RC drill will arrive at site before winter.

Readers should note that mineralization on adjacent properties is not necessarily indicative of mineralization on the Property.

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 and 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 the 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 can be found in the National Instrument 43-101 technical report on the Prospect Mountain property, Eureka county, Nevada, U.S., dated and with an effective date 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.

Review by qualified person

David Pym, CGeol, consulting geologist for the company, is the qualified person (QP), as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, who has reviewed and approved the 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.

The assay results referenced above were previously disclosed; sample preparation and methodologies are repeated on-line. All samples referenced herein were prepped by ALS Elko, 1345 Water St., Elko, Nev., U.S. Gold was assayed at ALS Reno, 4977 Energy Way, Reno, Nev., U.S. All base metals and silver were assayed by ALS Vancouver, 2103 Dollarton Hwy, North Vancouver, B.C., Canada. Gold was assayed by 30 g fire assay analysis with AAS or gravimetric finish (Au-AA23/5 or Au-GRA21). Base metals and silver were analyzed using four-acid digestion ICP-MS (ME-MS61), with overlimit assays using aqua regia and four-acid digestion with ICP-MS analysis (*-OG62). All ALS Geochemistry sites operate under a single Global Geochemistry Quality Manual that complies with ISO/IEC 17025:2017, coupled within a global LIMS platform. There is no relationship, fiduciary or otherwise, between ALS and the company.

If the results are greater than 10 parts per million Au, then 30 g fire assay analysis (gravimetric finish) is completed. The company's QA/QC (quality assurance/quality control) program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards and blanks are inserted randomly at one each per 20 samples (unless VG or extremely concentrated base metals is observed, where a blank is inserted in the following sample). Five per cent of samples were submitted to a second independent lab for referee. Core recovery in PM23-001 averaged 92 per cent.

We seek Safe Harbor.