(via TheNewswire)

HIGHLIGHTS

• Multiple high-grade Au-Ag-Cu showings confirmed beyond existing historic resource boundaries
  Surface sampling returned values up to 26.1 g/t Au, 179 g/t Ag, and 1.68% Cu, supporting a large, multi-zone mineralized system.  

• 22 priority diamond drill targets identified
  Drill-ready targets defined both inside and outside the historic Kena gold body, including several areas with minimal or no prior drilling.  

• Strong expansion potential along and across strike and at depth
  Results confirm gold and copper mineralization extends east and south of the resource, aligned with major structures and coincident geochemical and geophysical anomalies.  

CALGARY, ALBERTA – TheNewswire - February 3, 2026 –  Upside Gold Corp. ( CSE : UG) (FSE:47I) ("Upside Gold " or the " Company ") is pleased to provide a preliminary exploration update for its 10,115 hectares Kena Gold-Copper Property (“Kena” or “Property”) in southeastern British Columbia, including results from the Company’s initial surface rock geochemical sampling program completed in July 2025.  

“This initial field program represents an important step in advancing our understanding of the Kena Gold-Copper Property,” said Sophy Cesar, CEO of Upside Gold Corp. “The results support our exploration model and help define priority targets for follow-up diamond drilling beyond the existing lode gold bearing body.”

The surface exploration program was undertaken as a field review in follow-up to the optioning of the Property in early 2025, in parallel with the Company‘s ongoing geological, geochemical and geophysical compilation of the Property’s analog and digital exploration database which extends back to the mid-1970s.

During the field program, the exploration work focused on visiting and rock sampling known historic showings, and completing new geological traverses, and surface sampling of road-cuts from recently constructed logging roads crossing the Property. In addition, surface outcrop and historic trench exposures within the main lode gold body which make up the Kena Gold historic resource * were further reviewed and evaluated on-site. The Property gold mineralization is predominantly controlled by a northwestern trending major fault zone named Kena Deformation Zone situated within and between the Silver King Porphyry intrusive and Elsie Volcanic rocks and which is characterized as a strong low magnetic intensity signature as shown on the included maps.

 
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*  Historic gold resource;   An original technical report titled “NI 43-101 RESOURCE ESTIMATE FOR THE KENA AND DAYLIGHT PROPERTIES” by Sue Bird, Moose Mountain Technical Services was issued on May 3, 2021 and filed on SEDAR on behalf of West Mining Corp. reporting  an Indicated Mineral Resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ozs and an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ozs.  The Qualified Person for Upside Gold has not done sufficient work to classify this now historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources.  The estimate is relevant to this news release as it was completed on the Property. The Qualified Person emphasizes that the estimate is provided for information only and should not be relied upon.  The historical estimate uses the categories set out in section 1.2 of the NI-43-101. The parameters used are outlined in Sue Bird’s 2021 report. To upgrade the historical estimate as current mineral resource, additional drilling will have to be completed.

Based on these evaluations, 22 proposed priority diamond drillhole collar sites were identified in the field for follow-up testing both within and outside the gold body.  In total, 141 rock geochemical samples were collected for gold and multi-element analyses during the program.

2025 Program Results

The results of the July field program identified and confirmed the presence of multiple high-grade prospective areas and historic showings, both within and outside the main Kena lode gold body, supporting the definition of follow-up diamond drilling targets. The most significant assay results from this program are reported in the table, discussed below and shown on the maps.

Three areas visited on the Property, beyond the boundaries of the Kena lode gold body, are considered particularly exciting to the Company for follow-up exploration with diamond drill testing.

• The Lower and Upper Euphrates Au-Ag showings, which report historic production of 307 tonnes at 46.9 g/t Au and 249 g/t Ag, have recently become accessible following the construction of new logging roads in the area. The workings are located in the southern half of the Property, trend regionally along-strike eight kilometres to the north to the Kena lode gold body, and are hosted within similar favorable geological, geochemical and geophysical signatures including an identified coincident magnetic low feature which can be traced for 10 kms. The average analytical results from the nine grab samples collected on-site reported 8.61 g/t Au and 31.6 g/t Ag, ranging from 0.022 g/t Au and 0.5 Ag up to 26.1 g/t Au and 179 g/t Ag. There has been no known drilling in the area.  

• The Cat, Shaft, Dighem, and Princess Cu-Au-Ag showings are adjacent and aligned along the east side of the Kena Gold lode gold body over a strike length of 1,200 metres and are associated with a strong two-pronged IP chargeability anomaly with areal dimensions of 1.8 by 0.6 kilometres with coincident copper soil anomalies. Rock samples collected from the showings returned analyses of up to 1.68% Cu, 5.41 g/t Au and 18 g/t Ag, supporting historic reports of multiple high-grade occurrences of copper and precious metals. Historically, only five reconnaissance drill holes have been completed across the entire area.  

The Kena Copper Zone and adjoining South Gold Zone trends along strike for three kilometres southeast from the Kena Gold lode gold body, covering extensions of similar geology associated with a strong IP chargeability anomaly and a broad area of coincident copper and gold soil geochemical anomalies. Historic drilling reports multiple wide intersections of good copper and gold values starting at or near surface, of up to 117 metres of 0.22% Cu and 0.14g/t Au, 88.69 metres of 0.13% Cu and 0.21 g/t Au, 210 metres of 0.17% Cu and 0.13 g/t Au, 106 metres of 0.15% Cu, 0.18 g/t Au in the Kena Copper Zone as well as  90 metres of 0.9 g/t Au and 115 metres of 0.67 g/t Au and 0.05% Cu in the South Gold Zone.  Multiple surface rock samples of up to 1.31 g/t Au collected during this program support the potential for these zones to host significant volumes of copper and gold mineralized material.

QA/QC

The collected rock samples were shipped by bonded carrier and submitted to ALS Canada Ltd laboratory in Kamloops and North Vancouver, B.C.  ALS Canada Ltd. is an independent accredited testing laboratory having been assessed by the Standards Council of Canada (SCC) and found to conform to the requirements of ISO/IEC 17025:2017 for listed services. The Qualified Person inserted blind Au, Ag and Cu accredited analytical standards and quartz blanks with the submitted batch.  

Rock samples analyses included gold and 34 multi-element inductively coupled plasma - atomic emission spectroscopy (ICP-AES) analysis by four acid digestion (Au-ICP21, ME-ICP61), following sample weighing, log in, and crushing with screening to -75 microns.  ALS completed a standard package of internal laboratory QA/QC, including standards, blanks and duplicates.

Summary

The results of the field program support the Company’s belief, based upon compilation and due diligence work, in the existence of a major gold-copper mineralized system on the Kena Gold-Copper Property that extends beyond the boundaries of the currently defined lode gold body which remains open both laterally, along strike and at depth.  In particular, favourable geological, geochemical and geophysical signatures immediately to the east and south support the presence of major Cu-Au porphyry bodies that warrant detailed diamond drilling, with potential to add substantial volumes of mineralized material in the Property.  

In addition, the work supports the belief that this precious metal and copper mineralized system extends well into the southern half of the Property, an area that has not previously undergone diamond drilling or detailed exploration. This system also appears to be repeated by deformation towards the western side of the Property.  

The Kootenay region of south-eastern British Columbia has historically been largely overlooked for gold and copper exploration, and as such, offers opportunities for both new discoveries and for the development of known historic prospects into potentially viable resource bodies.    

The information in this press release has been reviewed and approved by Trevor Boyd, P.Geo., Vice-President, Exploration of the Company and a Qualified Person for the technical information under NI 43-101 standards.

For more information on Upside Gold Corp., please visit the Company’s website at  www.upsidegoldcorp.com .

On behalf of Upside Gold Corp.

Sophy Cesar

CEO and Director

info@upsidegoldcorp.com
www.upsidegoldcorp.com

About Upside Gold Corp.

Upside Gold Corp. is a Canadian gold-copper exploration company that has entered into an option agreement to acquire a 100% interest in the Kena Gold-Copper Project, located in southeastern British Columbia, approximately 7 kilometres southwest of Nelson. The Kena Project consists of 198 mineral claims covering 10,114.8 hectares, together with 11 crown grants covering approximately 92 hectares.

The Company is focused on advancing the Kena Gold-Copper Project through systematic exploration and drilling programs.

The Kena Project hosts a historical gold resource comprising an Indicated Mineral Resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ounces of gold, and an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ounces of gold. The historical resource estimate is disclosed in the technical report entitled  “NI 43-101 Resource Estimate for the Kena and Daylight Properties”  prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021, and filed on SEDAR on behalf of West Mining Corp.

A Qualified Person, as defined by National Instrument 43-101, has not done sufficient work to classify the historical estimate as current mineral resources, and Upside Gold Corp. is not treating the historical estimate as current mineral resources. The historical estimate is provided for information purposes only and should not be relied upon.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Upside Gold . Forward-looking statements include estimates and statements that describe Upside Gold's future plans, objectives or goals, including words to the effect that Upside Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Upside Gold, Upside Gold provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Upside Gold’s objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Upside Gold’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources and exploration plans. 

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Upside Gold public documents filed on SEDAR. Although Upside Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Upside Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

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