Mr. Denis Laviolette reports

PIRATE GOLD INTERSECTS 30.6 G/T AU OVER 1.35M AND 4.25 G/T AU OVER 6.65M AT MOOSEHEAD; IDENTIFIES NEW GOLD STRUCTURE

Pirate Gold Corp. has released field exploration results from Moosehead at its Treasure Island project. The Treasure Island project in central Newfoundland covers over 90 kilometres of strike along the Valentine Lake fault zone in Canada's newest gold district.

Eastern trend and Western trend drilling

PGC-26-112 was drilled at the southern end of the Eastern trend and encountered high-grade mineralization at approximately 20-metre vertical depth, returning 30.6 grams per tonne gold over 1.35 metres, including 89.7 g/t Au over 0.40 m.

At the Western trend, PGC-26-087 tested 45 m downplunge of the interpreted intersection between the north-south-trending Western trend and the east-west-trending Rib vein. The hole returned 4.25 g/t Au over 6.65 m, including 40.8 g/t Au over 0.50 m.

Drilling at shallow levels of the Western trend has confirmed high gold grades over 500 m of strike and to depths of 140 m. Surface trenching in 2024 exposed the interpreted Western trend and Rib vein intersection. Channel sampling returned 22.6 g/t Au over 4.85 m across the Western trend and 7.09 g/t Au over 8.1 m across the Rib vein.

Rib vein drilling

The Rib vein is a new discovery linking the Eastern and Western trend zones at Moosehead, which was announced on April 13, 2026, with highlights from PGC-26-028 yielding 65.1 g/t Au over 3.25 m, including 309.5 g/t Au over 0.5 m. The zone has continued to expand with PGC-26-033 grading 6.97 g/t Au over 5.35 m, including 69.1 g/t Au over 0.45 m, announced on May 26, 2026. Recent results have now connected the vein structure from the Eastern trend to the Western trend, including PGC-26-080 reporting 6.15 g/t Au over 0.55 m.

The vein structure now measures over 200 m in strike length and to depths of 90 m. It is untested along strike past the intersection with the Eastern and Western trend faults and the vein remains open at depth.

Caribou fault structure drilling

The latest discovery at Moosehead is the Caribou fault which lies approximately 150 m west of and parallel to the Western trend fault zone. Nineteen shallow holes tested the structure over 400 m of strike, with eight holes reporting significant gold results. PGC-26-100 returned 2.88 g/t Au over 2.45 m, including 4.63 g/t Au over 0.90 m. The northernmost hole, PGC-26-103, returned 1.04 g/t Au over 4.35 m.

Mineralization along the Caribou fault shares similarities with the Eastern and Western trend faults, including vein networks with massive, stylolitic and brecciated textures. Mineralization typically consists of pyrite and arsenopyrite, with localized boulangerite.

"The Moosehead zone comprises a broad network of faults and veins, which to date have been traced along over 1,500 m of strike length and to depths exceeding 200 m in the case of the Eastern trend fault. The discovery of the Caribou fault was no surprise as we always believed that other parallel structures should exist here. The recent shallow drilling has shown that we have a fertile structure that is continuous along at least 400 m and, most importantly, that it can host high-grade gold mineralization. I believe that further structural analysis and exploration of this fault in context with the more heavily explored Eastern and Western fault zones can lead us to identify additional high-grade mineralization along the structure, which remains open along strike and at depth," said Greg Matheson, vice-president, exploration.

"Moosehead continues to deliver high-grade gold. We're reporting 30.6 g/t gold over 1.35 m and 4.25 g/t gold over 6.65 m from established trends while also identifying another gold-bearing structure at Caribou. These results sharpen our understanding of the system and strengthen Moosehead's technical foundation. Together with the copper-gold opportunities we are advancing across Crippleback, Moosehead demonstrates the breadth of the discovery potential at Treasure Island," said Denis Laviolette, executive chairman and chief executive officer.

Moosehead background

Located in the northern part of the Treasure Island project, Moosehead is a high-grade orogenic fault system believed to represent a second-order fault network to the regional Valentine Lake fault. The primary gold mineralization is hosted within two parallel fault zones at the Eastern and Western trends, where high-grade mineralization has been traced through drilling along 800 m of strike length and nominally to a depth of 200 m. In addition to the Eastern and Western trends, a third parallel zone, the 552 zone, lies 200 m to the east and has yielded several high-grade results.

Pirate Gold Treasure Hunters Season 1 Episode 17 -- Moosehead Flyover

Episode 17 of Pirate Gold Treasure Hunters takes viewers on a flyover of Moosehead, tracing the high-grade gold vein network in the northern part of the Treasure Island project. The episode revisits previously reported discoveries and the structural relationships behind them, highlighting the gold potential across this extensive orogenic system. The episode features:

• More than 135,000 m of drilling outlining Moosehead's high-grade vein network;
• Discoveries across the Eastern and Western trends, including a previously reported Eastern trend intersection of 70.3 g/t Au over 9.05 m (Jan. 31, 2019);
• The Rib vein, linking the Eastern and Western trends over 200 m of tested strike, with a previously reported discovery intersection of 65.1 g/t Au over 3.25 m (April 13, 2026);
• Lightly drilled fault corridors extending north toward Bow Tie pond, where past drilling encountered visible gold;
• Year-round access from the Trans-Canada Highway, near Grand Falls-Windsor and Bishop's Falls;
• Multiple mineralized zones that remain open, highlighting Moosehead's potential for further gold discoveries.

Pirate Gold engages ICP Securities Inc. for automated market-making services

Pirate Gold is pleased to announce that it has engaged the services of ICP Securities to provide automated market-making services, including use of its proprietary algorithm, ICP Premium in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of $7,500, plus applicable taxes. The agreement between the company and ICP was signed with a start date of Aug. 28, 2026, and is for four months and shall be automatically renewed for subsequent one-month terms unless either party provides at least 30 days written notice prior to the end of the initial term or an additional term, as applicable.

There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the company in the future.

ICP is an arm's-length party to the company. ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the company's shares. ICP will be responsible for the costs it incurs in buying and selling the company's shares, and no third party will be providing funds or securities for the market-making activities.

Qualified person

Greg Matheson, PGeo, vice-president, 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 a Newfoundland-focused exploration company advancing its 100-per-cent-owned Treasure Island project, a district-scale property covering more than 90 kilometres of strike along the Valentine Lake fault zone. Exploration is focused on the high-grade Moosehead gold system, the Moby Dick copper-gold porphyry/epithermal discovery and multiple regional targets across the Crippleback intrusive suite. The company also holds a portfolio of Newfoundland gold projects, including the district-scale Fleur de Lys project.

Quality assurance/quality control statement

Diamond drill holes are HQ size and are processed at the company's secure core logging facility in Grand Falls-Windsor, Nfld., by qualified geologists and technicians. Drill core samples are sawn in half and submitted to ALS Canada Ltd. in Thunder Bay, Ont., for gold determination by PhotonAssay method and Vancouver, B.C. for multielement analysis.

Drill core samples analyzed at ALS are submitted under prep codes LOG-21, CRU-31 and SPL-32a. ALS performs Au-PA02 analysis on all samples. Any sample suspected of having visible gold or received with an Au-PA02 value greater than 10 parts per million undergoes Au-PA02e. Results of Au-PA02e use a weighted average for final assay determination.

The company inserts quality control (QC) samples at regular intervals, including blanks, reference materials and field duplicates to monitor the performance of the laboratory. Additionally, Pirate Gold Corp conducts check assays at a third party facility, which is independent of ALS Canada.

Acknowledgment

Pirate Gold acknowledges the financial support of the junior exploration assistance program of the Department of Natural Resources, government of Newfoundland and Labrador.

We seek Safe Harbor.