Mr. Denis Laviolette reports

PIRATE GOLD COMMENCES DRILLING AT CRIPPLEBACK, RELEASES EPISODE 7 AND NEW TECHNICAL PRESENTATION

Pirate Gold Corp. has commenced drilling at the Crippleback Lake target zone within its district-scale Treasure Island project in central Newfoundland, alongside the release of Episode 7 of the Pirate Gold Treasure Hunters series and a new technical presentation on Crippleback from vice-president of exploration Greg Matheson.

• Drills turning at Crippleback, testing a large, intensely altered zone with potential for both orogenic gold and a gold-copper porphyry-style system;
• Crippleback geology shares similarities with Equinox Gold's Valentine deposit, located along the same structural corridor;
• New technical presentation on YouTube by VP, exploration, Greg Matheson outlines the geological model and multideposit potential at Crippleback;
• Episode 7 of Pirate Gold Treasure Hunters now airing on YouTube;
• New Pirate Gold website now live with interactive maps, geology, latest videos and investor materials.

Crippleback: drilling into the system

With drills actively turning at Moosehead following recent high-grade results and a new zone discovery, the company is now advancing a second front at Crippleback.

Crippleback is a distinct geological setting defined by a large, intensely altered zone identified through mapping, drilling and geophysical surveys, alongside a significant concentration of gold, copper and molybdenum surface mineralization, supporting the potential for a gold-copper porphyry-style system.

Denis Laviolette, executive chairman and chief executive officer, commented: "With drilling under way at Moosehead delivering high-grade results, we're now stepping into the next phase of the story at Crippleback. What stands out here is the scale and intensity of alteration across the system. Situated along the same structural corridor as Equinox Gold's Valentine deposit, this is exactly the type of setting where large gold systems can develop. Our focus now is to connect the dots between high-grade veins and the broader system driving them."

The company believes this dual-track approach, combining high-grade vein expansion at Moosehead with drilling at Crippleback, significantly enhances the discovery potential across the 78,600 hectare, 92 km strike Treasure Island project.

Pirate Gold Treasure Hunters Season 1 Episode 7 -- treasure in the depths

Episode 7 of Treasure Hunters follows the next phase of the 2026 exploration campaign as the company expands beyond Moosehead and begins drilling at Crippleback. The episode features:

• The expansion from high-grade drilling at Moosehead into system-scale targeting at the Crippleback target, marking the next step in unlocking the Treasure Island system.
• Field mapping and geological observations highlighting a large, intensely altered zone with associated gold, copper and molybdenum.
• Initial drilling at Crippleback designed to test the source of the alteration system and better understand controls on mineralization.
• Continuing drilling at Moosehead continuing to define and expand high-grade vein-hosted gold mineralization.
• The evolving geological model across Treasure Island, linking high-grade veins to a potentially larger underlying mineralizing system.

Inside Crippleback: the geology behind Pirate Gold's newest target

Alongside Episode 7 of Treasure Hunters, the company has released a detailed technical presentation led by VP of exploration, Greg Matheson, outlining the geological model at Crippleback. The presentation highlights the potential for multiple deposit types, including orogenic gold, copper-gold porphyry and epithermal systems -- supported by large-scale alteration, strong geophysical anomalies and widespread copper-molybdenum mineralization.

New Pirate Gold website launch

The company also announces the launch of its newly redesigned website, providing investors with a comprehensive view of the Treasure Island project and the Pirate Gold story. The new website features:

• An updated overview of the Treasure Island project along the Valentine Lake fault;
• Interactive maps, geology and exploration strategy across the district-scale land package;
• The latest videos, including the Pirate Gold Treasure Hunters series;
• Investor presentations and corporate materials.

Drill holes discussed in Treasure Hunters Series

Drill hole PGC-26-058 has been initiated at Crippleback to follow up on the strong alteration zone encountered in drilling from 2024. The hole is anticipated to extend to deeper depths than past drilling. The initial 55 m of this hole has encountered strongly clay altered quartz monzonite with 5 to 8 per cent pyrite mineralization.

Qualified person

Greg Matheson, PGeo, VP, exploration for Pirate Gold, a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Pirate Gold Corp.

Pirate Gold is led by an experienced management team and is the dominant explorer along the Valentine Lake fault zone in Newfoundland, Canada's newest gold district. The company's primary focus is its 100-per-cent-owned district-scale Treasure Island gold project, along with a portfolio of gold projects, including the district-scale Fleur de Lys project.

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