Big Ridge Gold Corp Commences PEA on the Hope Brook Gold Project

Rhea-AI Summary

Big Ridge Gold Corp (OTCQB: ALVLF) has initiated a significant step forward by engaging SGS Geological Services to conduct a Preliminary Economic Assessment (PEA) for its Hope Brook Gold Project in Newfoundland. The project boasts impressive historical production of 752,163 ounces from 1987-1997 and currently holds indicated resources of 1.2 million ounces at 2.32 g/t Au and inferred resources of 231,000 ounces at 3.25 g/t Au.

The company has recently consolidated 100% ownership of the project in Q3 2025 and completed environmental baseline and ore sorting studies in 2024. The PEA is expected to be delivered in Q1 2026, positioning Hope Brook as one of the highest-grade open pit resources in Canada.

Positive

• Substantial resource base with 1.2MM oz indicated gold at 2.32 g/t Au
• One of the highest-grade open pit resources in Canada
• Proven production history with 752,163 oz historical production
• 100% project ownership achieved in Q3 2025
• Environmental and ore sorting studies already completed

Negative

• PEA results won't be available until Q1 2026
• Project requires significant development work to reach production stage

Toronto, Ontario--(Newsfile Corp. - September 16, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") is pleased to announce that it has engaged SGS Geological Services ("SGS") to complete a Preliminary Economic Assessment ("PEA") on the Hope Brook Gold Project ("HBGP"), located on the Southwest coast of Newfoundland in the Province of Newfoundland and Labrador.

Michael Bandrowski, President & CEO of the Company, commented: "Big Ridge is pleased to continue advancing the HBGP as gold prices continue to reach news highs and acquisitions in Newfoundland are front and center. On the back of our recent announcement of the consolidation of Hope Brook, and completion of the Environmental Baseline and Ore Sorting studies, we are excited to be able to demonstrate the value of the HBGP through a PEA."

Hope Brook Overview

• Historic production of 752,163 from 1987-1997 (Open-pit and Underground operation);
• Indicated gold resource totalling 1.2MM oz. grading 2.32 g/t Au;
• Inferred gold resource totalling 231,000 oz. grading 3.25 g/t Au ;
• One of the highest-grade open pit resources in Canada;
• Environmental and ore sorting studies completed in 2024;
• Completed consolidation of 100% of HBGP Q3 2025;
• The Company anticipates delivery of the PEA in the first quarter of 2026.

Qualified Person

Paul Robinson, P. Geo., V.P. Exploration for Big Ridge, and a Qualified Person within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

About SGS Geological Services

SGS Geological Services is known globally as the expert in ore body modelling and reserve evaluation with over 40 years and 1500 consulting projects of experience providing the mining industry with computer-assisted mineral resource estimation services using cutting edge geostatistical techniques. SGS bring the disciplines of geology, geostatistics, and mining engineering together to provide accurate and timely mineral project evaluation solutions. As part of the larger SGS Natural Resources group, they draw upon their massive network of laboratories, metallurgists, process engineers and other professionals to help bring mineral projects to the next level.

About Hope Brook

The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 - 1997. Initial production consisted of an open pit before moving to underground mining. Hope Brook operated using both heap leach (1987 -1990) and conventional cyanidation milling methods (1989-1997) with a later inclusion of flotation concentration to recover copper (1991). Government records indicate that gold recoveries from milling ranged between a low of 78.8% in 1987 and a high of 85.9% in 1989. Government and company annual reports indicate that gold recoveries ranged between a low of 82.1% in 1994 and a high of 89.83% in 1996 following a change of ownership. Copper flotation produced a concentrate at approximately 22% Cu and 34.3 g/t Au for shipment in 1992.

Hope Brook hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and underground resources respectively using a long-term gold price of US$1,750 (see 43-101 Compliant Mineral Resource Estimate Update for the Hope Brook Gold Project, Newfoundland and Labrador, Canada April 6, 2023).

The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike complex of the Roti Intrusive Suite. The deposit is located adjacent to and within an extensive advanced argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite accessory minerals. Gold mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized. All the altered and mineralized sequences and the intruded dykes have been folded.

Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice-free docking facility and importantly, connection to the provincial electrical power grid via an on-site substation.

About Big Ridge Gold Corp.

Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge owns an 100% interest in the Hope Brook Gold Project, located in Newfoundland and Labrador. Big Ridge also owns 100% interest in the highly prospective Oxford Gold Project located in Manitoba and the Destiny Gold Project in Quebec.

Acknowledgement

Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the Company's 2023 exploration programs through the Junior Exploration Assistance (JEA) Program.

For more details regarding the Company's projects, please visit our website at www.bigridgegold.com

ON BEHALF OF THE BOARD,

Mike Bandrowski,
President & CEO

Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email: Mike@bigridgegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events, and include, without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266613

FAQ

What are the current gold resources at Big Ridge Gold's Hope Brook Project (ALVLF)?

Hope Brook has indicated resources of 1.2 million ounces grading 2.32 g/t Au and inferred resources of 231,000 ounces grading 3.25 g/t Au.

When did Hope Brook Gold Project previously operate and how much gold did it produce?

The Hope Brook Gold Project operated from 1987 to 1997 as both an open-pit and underground operation, producing 752,163 ounces of gold.

When will Big Ridge Gold (ALVLF) complete the Preliminary Economic Assessment for Hope Brook?

Big Ridge Gold expects to deliver the PEA in the first quarter of 2026.

What recent milestones has Big Ridge Gold achieved at the Hope Brook Project?

Big Ridge has recently consolidated 100% ownership of the project in Q3 2025 and completed environmental baseline and ore sorting studies in 2024.

Where is the Hope Brook Gold Project located?

The Hope Brook Gold Project is located on the Southwest coast of Newfoundland in the Province of Newfoundland and Labrador, Canada.