Scottie Resources Surpasses 25,000 Metres of Drilling at the Scottie Gold Mine Project

Rhea-AI Summary

Scottie Resources (OTCQB: SCTSF) reports it has completed more than 25,000 metres of drilling in over 100 holes, about half of its fully financed 50,000‑metre 2026 drill program at the Scottie Gold Mine Project in British Columbia’s Golden Triangle.

Eight diamond drills are active, focusing on resource expansion and conversion at the Blueberry Contact Zone and Scottie Gold Mine to support an updated Mineral Resource Estimate and a Feasibility Study targeted for H1 2027. First‑ever drilling has begun at the Cambria Project (2,000–3,000 m planned), while roughly 2,000 metres have been drilled at the Domino target, following over 30 high‑grade surface samples between 5 and 536 g/t gold. Additional targets include the Bend Vein, C and D Zones, Serac Vein and Lakebed area. Supporting geotechnical, hydrogeological, geophysical and environmental baseline programs are progressing to underpin future project development.

Positive

• 25,000+ metres drilled, representing about half of the fully financed 50,000‑metre 2026 program
• Eight diamond drills operating across Scottie Gold Mine Project and Cambria
• Existing Scottie Gold Mine resource of 703,000 oz at 6.1 g/t Au (Inferred, 3.6 Mt)
• PEA base‑case DSO scenario after‑tax NPV(5%) $215.8–$668.3 million at US$2,600–$4,200/oz gold
• Under toll‑milling scenario, after‑tax NPV(5%) increases to $380–$832 million (no agreement in place)
• PEA estimates initial capex of $129 million, ~65,400 oz/year over 7 years, 1.7‑year payback (0.9‑year with toll‑milling at US$2,600/oz)

Negative

• Current mineral resource is entirely in the Inferred category, requiring further drilling and conversion
• Toll‑milling option improving NPV(5%) has no agreement currently in place

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2026 Exploration Programs on Track; Results Expected to Begin in the Coming Weeks and Continue Through Year-End

Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) ("Scottie" or the "Company") is pleased to announce that it has completed more than 25,000 metres of drilling on over 100 drill holes as part of its fully financed 50,000-metre 2026 drill program at the Scottie Gold Mine Project, located 35 kilometres north of Stewart in British Columbia's Golden Triangle.

The 2026 program is Scottie's largest exploration and resource definition program to date and is designed to simultaneously advance resource conversion, expand known high-grade mineralization, test multiple high-priority targets with the potential to deliver new discoveries and acquire the technical and environmental data required for construction.

Highlights

• More than 25,000 metres of drilling completed, representing approximately half of Scottie's fully financed 50,000 metre 2026 program.

• Eight diamond drills currently turning; seven on the Scottie Gold Mine Project and one on Cambria.

• Drilling at the Blueberry Contact Zone and Scottie Gold Mine is focused on expanding and upgrading high-grade gold resources in support of an updated Mineral Resource Estimate to support a Feasibility Study targeted for H1 2027.

• The first-ever drilling has commenced at the Cambria Project targeting 2,000 - 3,000 metres of drilling. This represents a high-priority exploration opportunity for the 2026 program, targeting numerous mapped and sampled vein systems. Drilling on the Cambria Project is located approximately 15 km east of the Scottie Gold Mine Project.

• Approximately 2,000 metres have now been drilled at the Domino target, about 2 km west of the Scottie Gold Mine, where Scottie is aggressively testing numerous outcropping veins at surface coincident with IP anomalies and over 30 high-grade surface samples between 5 and 536 g/t Gold.

• Additional high-priority targets being tested include the Bend Vein, C and D Zones, Serac Vein and the Lakebed area.

• Supporting technical programs, including geotechnical, hydrogeological and condemnation drilling, geophysics, remote sensing and environmental baseline studies, are advancing in parallel to support future project development.

"Completing more than 25,000 metres of drilling is an important milestone for Scottie and demonstrates the scale and pace of our largest drill program to date," said Dr. Thomas Mumford, President & CEO. "We are pleased with the progress we are seeing in the field, and the program is performing as expected. We have systematically advanced our resource definition drilling while continuing to push into some of the most compelling exploration targets across the district.

"We are particularly excited to have commenced drilling at Cambria for the first time, while drilling at Domino is focused on the potential to define an entirely new deposit. With over 100 new holes drilled to date, and in process of being logged, sampled and awaiting assays, investors can expect a steady stream of results beginning in the coming weeks. We believe the second half of 2026 has the potential to be an important period for Scottie as we continue to advance both the existing resource base and the broader discovery potential of the district."

Qualified Person

Lyle Hansen, P.Geo., Resource Geologist for Scottie Resources Corp., is non-independent and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information contained in this news release.

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 million 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 ore sorting and 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-$832 million (no agreement currently in place). The PEA estimates initial capital costs of $129 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
Executive Chairman
+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/310065

FAQ

What drilling milestone did Scottie Resources (SCTSF) reach at the Scottie Gold Mine Project in 2026?

Scottie Resources has completed over 25,000 metres of drilling in more than 100 holes in 2026. According to Scottie, this represents roughly half of its fully financed 50,000‑metre drill program at the Scottie Gold Mine Project in British Columbia’s Golden Triangle.

How many drills are operating in Scottie Resources’ 2026 program at the Scottie Gold Mine and Cambria?

Scottie Resources reports eight diamond drills currently turning in its 2026 program. According to Scottie, seven rigs are on the Scottie Gold Mine Project and one is on the Cambria Project, supporting resource definition and high‑priority exploration targets across the district.

What are the key PEA economics for Scottie Resources’ Scottie Gold Mine DSO project (SCTSF)?

The PEA base‑case Direct‑Ship Ore project shows after‑tax NPV(5%) of $215.8–$668.3 million at US$2,600–$4,200/oz gold. According to Scottie, this assumes initial capital of $129 million, average annual production of ~65,400 oz over seven years and a 1.7‑year payback.

How does the toll-milling option affect Scottie Resources’ Scottie Gold Mine PEA economics?

Under a toll‑milling scenario, the after‑tax NPV(5%) increases to $380–$832 million at US$2,600–$4,200/oz gold. According to Scottie, this uses excess capacity at the nearby Premier mill, but no toll‑milling agreement is currently in place for the project.

What current gold resource does Scottie Resources report at the Scottie Gold Mine Project?

Scottie Resources reports an Inferred resource of 703,000 ounces of gold at an average grade of 6.1 g/t in 3.6 million tonnes. According to Scottie, this near‑surface, high‑grade resource underpins the project’s development potential and ongoing expansion drilling strategy.

What exploration work has Scottie Resources done at the Domino and Cambria targets in 2026?

Scottie Resources has drilled about 2,000 metres at the Domino target and begun first‑ever drilling at Cambria, targeting 2,000–3,000 metres. According to Scottie, Domino follows over 30 high‑grade surface samples between 5 and 536 g/t gold, highlighting strong exploration potential.

When does Scottie Resources expect 2026 drill results from the Scottie Gold Mine Project?

Scottie Resources expects a steady stream of assay results beginning in the coming weeks and continuing through year‑end 2026. According to Scottie, more than 100 new drill holes are being logged and sampled, with results aimed at resource expansion and advancement toward feasibility.