Scottie Resources Drills 14.8 g/t Gold over 9.8 Metres and 17.6 g/t Gold over 4.40 Metres at M-Zone at Scottie Gold Mine Project

Rhea-AI Summary

Scottie Resources (OTCQB: SCTSF) reported 2025 drill assays from the Scottie Gold Mine Project with high-grade hits including 14.8 g/t Au over 9.80 m (SR25-445, incl. 69.8 g/t over 2.0 m) and 17.6 g/t Au over 4.40 m (SR25-439) in the M-Zone. Multiple zones (M, P, L, Wolf, O) returned meaningful intercepts. The company cites these results as supportive of its October 2025 PEA, which at US$2,600/oz estimates an after-tax NPV(5%) of $215.8M CAD (IRR 60.3%) and an alternate toll-mill NPV(5%) of $380.1M CAD (IRR 89.9%). A 2025 bulk sample generated an estimated $9M in revenue. True widths remain unestablished and Blueberry Contact Zone assays are pending.

Positive

• 14.8 g/t Au over 9.80 m in SR25-445
• 69.8 g/t Au over 2.0 m high-grade subinterval (SR25-445)
• PEA after-tax NPV(5%) $215.8M CAD at US$2,600/oz (IRR 60.3%)
• Toll-mill PEA after-tax NPV(5%) $380.1M CAD (IRR 89.9%)
• 2025 bulk sample generated an estimated $9M in revenue

Negative

• Initial capital cost of $128.6M CAD required in PEA
• True widths not yet established for reported drill intervals
• Drill results for the Blueberry Contact Zone are still outstanding

News Market Reaction

+6.46%

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+6.46% News Effect

On the day this news was published, SCTSF gained 6.46%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - January 22, 2026) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) ("Scottie" or the "Company") is pleased to report new assays from its 2025 drilling of various zones within and around the historic Scottie Gold Mine, part of the the Scottie Gold Mine Project ("Scottie Gold Mine" or the "Project"). The road-accessible Scottie Gold Mine Project, which includes the 100%-owned past-producing Scottie Gold Mine and the adjacent Blueberry Contact Zone, is located 35 kilometres north of Stewart, BC, and is the subject of a newly released Preliminary Economic Assessment ("PEA") entitled Scottie Gold Mine Project (see news release dated October 28, 2025).

Drilling continues to deliver at the Project. Hole SR25-445 intersected 14.8 grams per tonne "g/t" gold over 9.80 metres, including a high-grade interval of 69.8 g/t gold over 2.0 metres within the M-Zone. Additional strong M-Zone results include 21.1 g/t gold and 50.6 g/t silver over 3.45 metres in hole SR25-410 and 17.6 g/t gold over 4.40 metres in hole SR25-439. Multiple drill holes (SR25-408, 419, 427 and 445) also intersected gold mineralization within the Wolf Zone, highlighted by an intercept of 7.56 g/t gold over 1.65 metres in hole SR25-408.

These results represent the conclusion of 2025 drill results from the Scottie Gold Mine and associated vein zones, i.e., P-, M-, N-, L-, and Wolf Zones. Drill results are still outstanding for the Blueberry Contact Zone and will be released as they have been validated and interpreted.

"These results demonstrate exactly what we believe makes Scottie special, high-grade holes, strong continuity and multiple zones delivering meaningful intercepts," stated Brad Rourke, CEO. "Intercepts like 14.8 g/t gold over nearly 10 meters at the M-Zone reinforce our confidence in the robustness of the system and its ability to support attractive development scenarios. As we continue drilling around the historic mine and adjacent zones, we see clear potential to further enhance the value outlined in our recently released PEA."

Highlights:

• High-grade intercepts over meaningful widths (up to 14.8 g/t Au over 9.8 m) continue to enhance the economic potential of the Scottie Gold Mine Project
• Multiple zones delivering strong grades (M-Zone and Wolf Zone) reinforce confidence in a robust, repeatable mineralized system
• Grades significantly exceed global open-pit and underground averages, supporting potential for stronger margins
• Results de-risk and strengthen the recently released PEA, improving confidence in mine planning and future development scenarios
• Proximity to historic mine workings and infrastructure increases the likelihood of efficient, capital-light development

Table 1: Highlight results from new drill assays (uncut) - Scottie Gold Mine

Drill Hole		From (m)	To (m)	Width* (m)	Gold (g/t)	Silver (g/t)	Sub Zone
SR25-403		102.00	103.00	1.00	8.49	14.0	M-Zone
SR25-404		3.65	6.00	2.35	1.51	0.00	P-Zone
		90.15	91.15	1.00	1.22	15.0	P-Zone
SR25-408		350.60	351.70	1.10	1.17	5.00	Wolf Zone
		368.00	369.65	1.65	7.56	2.00	Wolf Zone
		379.80	381.00	1.20	3.63	3.00	Wolf Zone
		448.00	449.35	1.35	1.23	2.00	L-Zone
SR25-410		84.45	85.45	1.00	8.80	17.0	M-Zone
		143.00	144.00	1.00	4.54	26.0	M-Zone
		147.00	148.00	1.00	2.04	3.00	M-Zone
		151.05	154.50	3.45	21.1	50.6	M-Zone
		159.50	161.00	1.50	1.14	21.0	N-Zone
SR25-414		61.70	62.70	1.00	1.00	0.00	M-Zone
		116.00	118.70	2.70	1.56	6.13	M-Zone
SR25-419		240.00	241.00	1.00	1.78	24.0	unknown
		313.00	314.55	1.55	1.30	2.00	Wolf Zone
SR25-425		64.10	65.10	1.00	1.05	18.0	O-Zone
SR25-427		219.85	221.00	1.15	5.74	8.00	Wolf Zone
		239.00	242.00	3.00	1.33	2.00	Wolf Zone
SR25-434		230.00	231.00	1.00	3.18	173.0	M-Zone
SR25-439		58.00	59.00	1.00	2.69	11.0	O-Zone
		296.30	300.70	4.40	17.6	13.3	M-Zone
SR25-445		50.20	60.00	9.80	14.8	4.94	M-Zone
	including	58.00	60.00	2.00	69.8	16.0	M-Zone
		96.00	97.00	1.00	7.01	9.00	N-Zone
		254.40	255.40	1.00	1.14	36.0	Wolf Zone
SR25-454		88.60	90.10	1.50	1.70	3.00	P-Zone
SR25-461		295.00	303.00	8.00	2.98	4.38	L-Zone
	including	295.00	296.00	1.00	14.3	15.0	L-Zone
*True width of the intervals has not yet been established by drilling

 

Discussion of Results

Drilling at the Scottie Gold Mine

The drilling successes from this year will be used to remodel the vein zones and aid in targeting for the 2026 program. In addition to drilling, the Company is planning to use drone assisted 3D scanning of the historic mine to better constrain the extent and positioning of the underground stopes. Increased resolution of mine workings surrounding the existing resource will aid in both future targeting and resource expansion, as well as the potential reduction of sterilized ore as modelled in the PEA.

The 2025 drilling resulted in high-grade expansionary holes on the P-Zone (SR25-378; 8.28 g/t gold over 22.35 m), O-Zone (SR25-385; 8.99 g/t gold over 3.00 m), M-Zone (SR24-445; 14.8 g/t gold over 9.8 m), L-Zone (SR25-461; 2.98 g/t gold over 8.00 m), and Wolf-Zone (SR25-408; 7.56 g/t gold over 1.65 m).

Figure 1: Overview plan view map of the Scottie Gold Mine, illustrating the locations of the reported drill results, cross-sections (Figures 2,3), and the distribution of the modelled sulphide-rich zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11118/281024_f40e0fbe24e8b981_002full.jpg

Figure 2: Cross-section displaying Scottie Gold Mine intercepts from drill holes SR25-408, -410, -427, -445.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11118/281024_f40e0fbe24e8b981_003full.jpg

Figure 3: Cross-section displaying Scottie Gold Mine intercepts from drill hole SR25-439.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11118/281024_f40e0fbe24e8b981_004full.jpg

About the Scottie Gold Mine Project

Over the past six years, exploration at the Scottie Gold Mine Project has delivered exceptional results — highlighted by the discovery of four new high-grade zones (Blueberry Contact Zone, Domino, D-Zone, and P-Zone) and the expansion of several historically drilled targets (Scottie Gold Mine, C-Zone, Bend Vein, and Stockwork).

A clear spatial relationship has emerged between these high-grade zones and the contact with the Jurassic-aged Texas Creek Plutonic Suite, providing a powerful framework for ongoing targeting. Detailed geological, structural, mineralogical, and geochemical studies now point to a shared mineralizing event across the property — linking the deposits into a broader, interconnected system with significant growth potential.

The Blueberry Contact Zone, located 2 km northeast of the 100%-owned past producing Scottie Gold Mine in BC's Golden Triangle, has rapidly advanced from a lightly drilled high-grade vein showing into a major growth target. The target was significantly advanced during Scottie's 2019 drill program when an interval was intersected in a new N-S oriented zone adjacent to the main Blueberry Vein. The drill results received from 2020 - 2024, coupled with surficial mapping and sampling suggest that the N-S mineralized trend is a controlling structure that hosts an array of SW-trending, sub-parallel, sulphide-rich veins that obliquely crosscut it which host high-grade gold. As of the end of 2024, the extent of the N-S zone, defined by the contact between andesite and siltstone units of the Hazelton Formation and the presence of the cross-cutting sulfide-rich structures, has a drilled strike length of >1,550 metres and has been tested to >525 metres depth. The Blueberry Contact Zone is located on the Granduc Road, 20 kilometres north of the Ascot Resources' Premier Mine. Newmont's Brucejack Mine is located 25 kilometres to the north.

The Company has recently completed a PEA which evaluates a low-capital DSO operation to deliver a gold-rich gravel product to Asian copper/precious metals smelters. At a gold price of US$2600/oz the project estimates an after-tax NPV(5%) of $215.8 M CAD with an IRR of 60.3%. By design, the operation will eliminate the need for a gold processing plant and tailings facility, thereby significantly reducing the capital required and resulting in a minimal environmental footprint, resulting in an initial capital cost of $128.6 M CAD. The project envisages a shallow open pit on the Blueberry Zone to start, followed by underground production from both Blueberry and the past-producing Scottie Gold Mine. The PEA also evaluates a toll milling scenario through the nearby Premier Mill, which results in an after-tax NPV(5%) $380.1 M CAD and an IRR 89.9%.

Scottie's 2025 Bulk Sample program exemplifies the unique characteristics of this mining project, and its ability to rapidly progress. From permitting to mining, crushing, transporting, shipping and sale of the product, the program was executed in under a year, generating an estimated $9M in new revenue. With this proven pathway, Scottie's has confidence in the simplicity and efficiency of its DSO model.

Quality Assurance and Control

Results from samples taken during the 2025 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken under the direction of Dr. Thomas Mumford. The majority of drill core was NQ in diameter, with select holes of HQ size primarily taken for geomechanical purposes. Prior to sampling drill core was cut in half lengthwise, with half sent for assay and the remaining half kept in Stewart, BC. Standards, blanks, and duplicate samples were taken at intervals and frequencies that meet or exceed industry best practices. A secure chain of custody is maintained in transporting and storing all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required (+9 g/t gold). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.

Dr. Thomas Mumford, P.Geo., non-independent President of the Company, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release on behalf of the Company.

ABOUT SCOTTIE RESOURCES CORP.

Scottie Resources holds 100% interest in the Scottie Gold Mine Property, which includes the high-grade, past-producing Scottie Gold Mine and the adjacent Blueberry Contact Zone. The Company also owns a 100% interest in the Georgia Project, host to the past-producing Georgia River Mine, as well as the Cambria, Sulu, and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart Mining Camp in British Columbia's Golden Triangle-one of the world's most prolific mineralized districts.

Scottie's current resource estimate on the Scottie Gold Mine Project includes a total of 703,000 gold ounces at an average grade of 6.1 g/t (Inferred category) in 3.6 millon tonnes, highlighting the development potential for a significant near-surface, high-grade deposit. The Company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.

The Company has recently completed a PEA for the Scottie Gold Mine. The PEA outlines a robust Direct-Ship Ore (DSO) development scenario with strong economics and significant upside through a potential toll-milling option utilizing excess capacity at the nearby Premier mill. The base case DSO project delivers an after-tax NPV(5%) of $215.8-$668.3 million at gold prices of US$2,600-$4,200/oz, respectively. Under the toll-milling scenario, project economics improve substantially, with an after-tax NPV(5%) of $380.1-$831.7 million (no agreement currently in place). The PEA estimates initial capital costs of $128.6 million, average annual production of ~65,400 oz gold over seven years, and a payback period of 1.7 years for the after-tax DSO case—reduced to just 0.9 years under the toll-milling opportunity at US$2,600/oz.

Additional Information

Brad Rourke
CEO
+1 250 877 9902
brad@scottieresources.com

Forward-Looking Statements

This news release may contain forward‐looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281024

FAQ

What were the headline drill results for Scottie Resources (SCTSF) on January 22, 2026?

Headline assays include 14.8 g/t Au over 9.80 m (SR25-445) and 17.6 g/t Au over 4.40 m (SR25-439) at the M-Zone.

How do the 2025 drill results affect the Scottie Gold Mine PEA for SCTSF?

Company says the 2025 assays de-risk and strengthen the PEA by adding high-grade intercepts and modelling confidence for mine planning.

What economic metrics did Scottie Resources report in the PEA referenced with the 2025 results?

At US$2,600/oz gold the PEA shows after-tax NPV(5%) $215.8M CAD (IRR 60.3%); a toll-mill scenario shows NPV(5%) $380.1M CAD (IRR 89.9%).

Did Scottie Resources generate revenue from 2025 activities at the Scottie Gold Mine project?

Yes; the 2025 bulk sample program is estimated to have generated about $9M in revenue.

Are the reported drill widths true widths for SCTSF results?

No; the company notes that the true width of the intervals has not yet been established by drilling.

Which zones returned significant 2025 intercepts at Scottie (SCTSF)?

Significant intercepts came from the M, P, L, Wolf and O zones, with notable high-grade hits in the M-Zone.