Clinton Smyth will Lead Eskay Mining Exploration in 2026

Rhea-AI Summary

Eskay Mining (OTC:ESKYF) announced that Clinton Smyth has joined as Chief Geologist to lead the 2026 exploration program focused on the Vermillion–Ted Morris (TM) trend within the Consolidated Eskay Project.

Key facts: a 4km TM belt produced a 297 g/t Au and 790 g/t Ag rock chip in 2025; WorldView‑3 imagery is being used to refine drill targets; Eskay reports $3,000,000 cash, no debt, a prior $4,000,000 claim sale to Skeena (2023) and a 15% holding in Garibaldi whose value rose ~$3,500,000 in six months. Management is seeking non‑dilutive financing alternatives to fund drilling.

Positive

• Clinton Smyth appointed Chief Geologist to lead 2026 exploration
• Reported $3,000,000 cash and no debt
• Garibaldi stake value increased ~$3,500,000 (15% holding)

Negative

• No committed financing disclosed for the Vermillion‑TM drill program

News Market Reaction

+61.81%

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+61.81% News Effect

On the day this news was published, ESKYF gained 61.81%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, ON / ACCESS Newswire / January 12, 2026 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTC PINK:ESKYF)(Frankfurt:KN7)(WKN:A0YDPM)is pleased to announce that Clinton Smyth has joined the Company in the capacity of Chief Geologist responsible for the Company's 2026 exploration program. Mr. Smyth will direct the continuation of the successful exploration of the past two seasons on the new discovery along the C10- Vermillion-Ted Morris (TM) trend situated in the southern portion of the Company's 100% controlled Consolidated Eskay Project.

Mr. Smyth is a successful mining exploration executive. During a 25-year career with Anglo American Corp and Minorco he rose to the position of Vice President, Exploration. He obtained a MSc in Geochemistry from the University of Cape Town, South Africa. He also holds a MSc in computer science from Imperial College in London, U.K. Beyond extensive exploration work through out Africa and Australasia, Clinton lead teams responsible for the discovery of the 2-million-ounce Buzwagi gold deposit in Tanzania and the Saddle South gold deposit in British Columbia.

Mac Balkam C.E.O. & President commented "2025 high-grade assays that included one rock chip sample of 297 g/t of gold and 790 g/t Ag in the Vermillion- Ted Morris (TM), 4km long belt strengthened our commitment to the 2024 discovery. With that in mind we are excited to have Clinton join Eskay and to lead the team on what we plan will be a significant advancement of the Vermillion-TM zone discovery."

Mr. Smyth is currently preparing for the most extensive exploration season since 2023. He is assembling an experienced team to aid in interpreting the wealth of data Eskay has gathered over the past number of years. The Worldview 3 satellite imagery acquired last September is being interpreted and will play a significant role in identifying TM zone drill targets and further exploration along the belt.

Eskay has a strong Balance Sheet with cash of $3,000,000 and holds no debt. Balkam added "In keeping with our discipline of financing with the minimum amount of dilution we are currently aggressively seeking alternatives to traditional stock issues. With the dramatic increase in commodity prices our goal is to monetize previously un-recognized asset values. In recent years drilling programs across the huge Eskay property has given rise to a host of gold/silver discoveries that may well be strategic opportunities for neighbours of Eskay and otherwise. In 2023 we sold to Skeena Resources claims for $4,000,000 which played an important part in our fight against dilution in difficult market conditions. Further, our holding of 15% of Garibaldi Resources Inc has risen more than three-fold in the past 6 months and added $3,500,000 to Eskay's Investment value. Garibaldi holds a world class grade Nickel deposit in its E&L Nickel Mountain property. We are weighing the strategic investment relative to the significant cash available for Eskay's current exploration financing needs. We may be able to finance the Vermillion-TM zone drill program and advance other known deposits such as TV with these various sources of alternative financing."

For more detail on the 2025 results at Vermillion and the TM Zone from the November 7, 2025 Press Release follow

Eskay Receives High-Grade Gold Results from the Final Batch of Surface Samples from its 2025 Exploration Campaign at its 100% Controlled Consolidated Eskay Project, Golden Triangle, BC | Eskay Mining Corp.

To watch the video of Dr Hennigh outlining the potential in the Vermillion -TM zone follow https://youtu.be/ju8gRF2gN9A

Qualified Person

Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR+ at www.sedarplus.com.

For further information, please contact:

Mac Balkam
President & Chief Executive Officer
T: 416 907 4020
E: Mac@eskaymining.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.

Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Eskay Mining Corp.

View the original press release on ACCESS Newswire

FAQ

Who is the new Chief Geologist leading Eskay Mining's 2026 program (ESKYF)?

Clinton Smyth has joined as Chief Geologist to direct the 2026 exploration program.

What high‑grade surface results did Eskay report on the Vermillion‑TM trend in 2025?

A 2025 rock chip returned 297 g/t gold and 790 g/t silver on the Vermillion‑TM belt.

How strong is Eskay Mining's balance sheet (ESKYF) for 2026 exploration?

Eskay reports $3,000,000 cash and no debt to support exploration plans.

Will Eskay (ESKYF) use satellite data to plan 2026 drill targets?

Yes; WorldView‑3 satellite imagery acquired in September is being used to identify TM drill targets.

How is Eskay planning to fund the Vermillion‑TM drill program without dilution?

Management is aggressively seeking non‑traditional, non‑dilutive financing and may monetize existing assets or investments.