Gold Strike Reports Assays from First Drill Hole at Florin Project, Returning 400 Metres of 0.53 g/t Gold from near Surface, Including 50 m of 1.07 g/t Gold
Deeper gold intervals reached depths not previously tested by historical drilling, while assays from ten additional holes remain pending.
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Rhea-AI Summary
Gold Strike Resources (GDSRF) reported 400 metres grading 0.53 grams per tonne gold in its first 2026 Florin drill hole. The interval in hole 26F-01 begins at 15 metres depth and includes 50 metres at 1.07 grams per tonne from 236 metres.
Three deeper intervals returned 32 metres at 0.23 grams per tonne, 50 metres at 0.27 grams per tonne and 39 metres at 0.22 grams per tonne, indicating mineralization at depths not previously tested by historical drilling. Assays remain pending from ten holes in the 11-hole program at the wholly owned Yukon project. Seven holes were designed to define or expand the resource footprint, subject to assay results and an updated mineral resource estimate; four tested exploration targets.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point400 metres at 0.53 g/t gold intersected from 15 metres in Florin hole 26F-01.
- Minor point50 metres at 1.07 g/t gold included within the broader interval, starting at 236 metres.
- Minor pointHighest-grade individual samples returned 11.5 g/t over 1 metre and 10.4 g/t over 1 metre.
- Minor pointDeeper intervals returned 32 metres at 0.23 g/t, 50 metres at 0.27 g/t and 39 metres at 0.22 g/t gold.
- Minor pointSeven drill holes targeted resource definition or expansion; four others tested exploration targets.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.Resource definition or expansion remains subject to assay results and an updated mineral resource estimate.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Drill hole 26F-01, the first hole of the 2026 drill program, returned 400 m at 0.53 g/t Au from a depth of 15 m, including 50 m at 1.07 g/t Au from 236 m.
- The two highest-grade individual samples returned 11.5 g/t Au over 1 m from 248 m and 10.4 g/t Au over 1 m from 284 m.
- Drill hole 26F-01 also intersected three additional gold intervals: 32 m at 0.23 g/t Au from 425 m; 50 m at 0.27 g/t Au from 476 m; and 39 m at 0.22 g/t Au from 548 m.
- These three deeper intervals indicate gold mineralization at depths not previously tested by historical drilling.
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Gold Strike Resources Corp. (TSXV: GSR) (OTC Pink: GDSRF) ("Gold Strike" or the "Company") is pleased to announce assay results from the first hole of its 11-hole 2026 drill program at its
Drill hole 26F-01, drilled along the long axis of the resource footprint, returned 400 m at 0.53 g/t Au from 15 m to 415 m, including 50 m at 1.07 g/t Au from 236m to 286m (Table 1). Figure 2 shows the drill hole in plan view, and Figure 3 presents a longitudinal section.
"We are pleased to report the first assay results from our 2026 drill program at Florin," said Peter Miles, CEO of Gold Strike. "These results are encouraging and support the continuity of gold mineralization within the existing resource footprint and indicate additional mineralization at depth. With assays pending from ten additional drill holes, we look forward to updating shareholders as we assess the project's broader potential."
The 2026 drill program comprised 11 holes and was designed with guidance from Ron Simpson, the co-author of the Company's technical report.1 Seven holes were designed to further define or expand the resource footprint, subject to assay results and an updated mineral resource estimate. The remaining four holes tested exploration targets: three west and one east of the resource footprint.
Table 1: Assay results for drill hole 26F-01
| Drill Hole | Azimuth | Dip | From | To | Length* | Au g/t |
| 26F-01 | 1200 | -45o | 15m | 415m | 400m | 0.53 |
| Including | 236m | 286m | 50m | 1.07 | ||
| 425m | 457m | 32m | 0.23 | |||
| 476m | 526m | 50m | 0.27 | |||
| Total Depth | 588.6m | 548m | 587m | 39m | 0.22 |
*Notes for Table 1: Length describes the down hole length; there has been insufficient drilling to determine the true width. The NAD83 Zone 8 UTM co-ordinates for this drill hole are N 7094033.5 and E 413659.7, surveyed using RTK GPS (Stonex) with a DNSS correction. The Azimuth and dip were orientated using an iMDEX rig aligner, only the starting angles are given here, a gyro-based Reflex reading was also taken approximately every 50m, down hole.
Figure 1: Regional map of the Tombstone Gold Belt showing the location of Gold Strike's Yukon properties including the Florin project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2534/320306_c0f80e370422e805_001full.jpg
Figure 2: Plan view of historical and current drill holes at the Florin Gold Project, showing gold assay results. The 2026 drill hole traces are shown in black, and historical drill hole traces are shown in white. Drill hole 26F-01 is highlighted, with assay results colour-coded according to the legend.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2534/320306_c0f80e370422e805_002full.jpg
Figure 3: Long section along the 120 degree azimuth of drill hole 26F-01. Note the 400m interval extends the gold zone identified by historical drilling near surface, both deeper and to the east.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2534/320306_c0f80e370422e805_003full.jpg
Quality Assurance/Quality Control
Core from the drill rig was helicoptered to a laydown area on Big Creek. It was received each morning by company geologists, quick logged, checked for the meterage and then packed, securely strapped on to pallets for truck transport to the core logging facility in Whitehorse. Here the HQ/NQ diameter drill core was systematically logged for geological attributes, photographed and sampled using a diamond saw to halve the core, the samples cut-lengthwise, along a predetermined line, with the same half consistently being collected for analysis. The other half is stored for record at Whitehorse. A 1m sample length was used. Standard reference materials, blanks and duplicate samples were inserted by Gold Strike personnel at regular intervals into the sample stream, nominally at least one of each for each lab batch, every 35 samples. Bagged samples were placed in ore bags sealed with numbered tags and transported to Activation Laboratories Ltd.'s ("Actlabs") Kamloops laboratory where the samples were processed. Actlabs notified Gold Strike of receipt and all samples arrived with the security tag intact.
Actlabs is accredited to ISO 17025:2017 SCC for its mineral laboratory analysis and is independent of the Company.
Samples were crushed to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an atomic (AA) finish on 50 g sub-samples of the prepared pulp (Actlab code: 1A2B-50). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g sub-sample. In addition, a 49-element analysis was performed on a 0.5 g subsample of the prepared pulps by a four acid digestion followed by an inductively coupled plasma mass spectroscopy (ICP-OES or ICP-MS) finish (Actlab code: UT-6M (2026)).
Technical Information
The scientific and technical information in this news release has been reviewed and approved by David Kelsch, P.Geo., a consultant to the Company, who has verified the data underlying such information. Mr. Kelsch is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About the Company
Gold Strike Resources Corp. is a mineral exploration and development company focused on advancing high-potential gold opportunities within its prospective land package in the proven, but underexplored Tombstone Gold Belt, Yukon. The Company holds a
(signed) "Peter Miles"
Peter Miles
Chief Executive Officer
For additional information on the Company, please contact Mr. Peter Miles, Chief Executive Officer at (604) 408-6680 or email investor@goldstrikeresourcescorp.com.
To be added to the email distribution list, please visit our website at www.goldstrikeresourcescorp.com.
Cautionary Statement Regarding Adjacent, Nearby or Geologically Similar Properties
Mineralization hosted on adjacent, nearby or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information is identified by words such as "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential", "intend", "goal", "designed to", and similar expressions.
Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company cannot give any assurance that it will prove correct. Since forward-looking information addresses future events and conditions, it involves inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt of further regulatory and First Nation approvals. Forward-looking information in this news release includes, without limitation: the receipt, analysis and reporting of assay data; the release of drill assays, geophysical interpretations and field results; expectations regarding the potential for gold mineralization; the Company's plans to prepare an updated mineral resource estimate; and the Company's plans to report assay results from the remaining holes of the 2026 drill program as they become available. Exploration activities in Yukon are subject to seasonal access constraints, engagement with local communities and Indigenous rights holders, availability of financing, and the inherent uncertainties of mineral exploration, including the risk that drill results do not confirm grade continuity or resource expansion potential. Risks specific to the foregoing include laboratory capacity constraints affecting assay turnaround, delays in processing and interpreting airborne geophysical data, adverse weather or access conditions, the failure of exploration programs to identify economic mineralization.
The forward-looking information contained in this news release is made as of the date hereof. Other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, results, or otherwise.
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.
1 The technical report was prepared by GeoSim Services Inc. (Ronald G. Simpson, P.Geo.) and David Kelsch, P.Geo., with an effective date of December 5, 2025. Florin hosts a pit-constrained inferred mineral resource of 2.507 million ounces of gold (162.7 million tonnes grading 0.48 grams per tonne ("g/t") gold ("Au") at a 0.30 g/t Au cut-off) that remains open in all directions and at depth. For further details, see the "Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon Territory", filed on April 13, 2026 on SEDAR+ under the Company's profile at www.sedarplus.ca, and the Company's news release dated March 3, 2026.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320306
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