StrikePoint Completes Acquisition of the Northumberland Gold Project from Newmont Corporation

The acquisition adds a Nevada resource, alongside two contingent US$25 million payments tied to study and production milestones.

Rhea-AI Summary

StrikePoint Gold (STKXF) completed its acquisition of Nevada’s Northumberland Gold Project from Newmont subsidiaries, paying US$70 million at closing.

The transaction closed October 6, 2026. Two contingent payments of US$25 million each are due within 120 days after a feasibility study and specified commercial production milestones, respectively. The July 31, 2026 resource estimate contains 2,857,000 indicated and 1,568,000 inferred gold-equivalent ounces, combining gold and silver; no mineral reserves are established.

Escrow conditions were satisfied for a C$190 million financing of 95,000,000 subscription receipts at C$2.00 each, convertible into post-consolidation shares. Proceeds funded the acquisition, with the balance designated mainly for exploration and development. A 10-for-1 consolidation took effect October 2, 2026. StrikePoint expects drilling within a month, subject to permit transfer or replacement requirements.

8 points · 2 major

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2 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointCompleted Northumberland acquisition adds the Nevada project from Newmont subsidiaries.
• Major pointC$190 million gross financing raised; escrow release conditions satisfied October 6, 2026.
• Minor pointIndicated resource contains 2,857,000 gold-equivalent ounces at 1.33 grams per tonne, effective July 31, 2026.
• Minor pointInferred resource contains 1,568,000 gold-equivalent ounces at 1.58 grams per tonne, effective July 31, 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Financing balance designated for Northumberland exploration and development, with less than 10% for general corporate purposes.

3 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.StrikePoint expects drilling within a month to expand and fill gaps in the existing resource.
• Minor pointFive drill permits are currently in place for exploration on private and public land.
• Minor point. Forward-looking: it has not happened yet and may not happen.StrikePoint is evaluating greenfields targets, potentially for drilling in 2027.

Negative

• Major pointUS$70 million upfront cash consideration paid at acquisition closing.
• Major point95,000,000 subscription receipts at C$2.00 each convert one-for-one into post-consolidation shares, diluting existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.US$25 million contingent payment due within 120 days after completion of a feasibility study.
• Minor point. Forward-looking: it has not happened yet and may not happen.US$25 million contingent payment due within 120 days after specified commercial production milestones.
• Minor point. Forward-looking: it has not happened yet and may not happen.Drill mobilization remains subject to applicable permit transfer or replacement requirements.
• Minor point. Forward-looking: it has not happened yet and may not happen.Potential resource expansion depends on further exploration results.

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Escrow Release Conditions Satisfied for C$190 Million Bought Deal Financing Led by Canaccord Genuity

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that it has completed its previously announced acquisition (the "Transaction") of the Northumberland Gold Project ("Northumberland" or the "Project") located in Nevada's Walker Lane, from subsidiaries of Newmont Corporation ("Newmont") (NYSE: NEM), pursuant to the definitive purchase agreement (the "Agreement") described in the Company's news releases dated August 18, 2026, August 20, 2026, September 9, 2026 and September 29, 2026. The Transaction closed on October 6, 2026, and StrikePoint paid the upfront cash consideration of US$70 million at closing. Northumberland is a past-producing gold deposit, largely located on private land, that houses a significant mineral resource defined by more than 1,500 drill holes. StrikePoint has also agreed to make two additional contingent cash payments of US$25 million each in the future, the first within 120 days after completion of a feasibility study (the "Feasibility Study") and the second within 120 days after achievement of certain commercial production milestones at Northumberland.

Key Transaction Highlights

• Acquisition of a substantial gold deposit in Nevada's Walker Lane, a tier-one mining jurisdiction: Nevada is a top ranked mining jurisdiction with numerous operations in the state and an established, proven regulatory framework.

• Independent mineral resource estimate ("MRE") of 2.86 million oz ("Moz") of gold equivalent ("AuEq") in the indicated category and 1.57 Moz of AuEq* in the inferred category contained within 67 million tonnes ("Mt") and 31 Mt, respectively.

* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.

• Brownfields site on private land potentially simplifies permitting: The current MRE for Northumberland is contained on private property which previously hosted open pit production.

• Exploration Targets: Northumberland has not been explored since approximately 2010, and numerous untested targets exist, including extensions of the known mineralization.

• Regional Exploration Package: In addition to the known mineral resources, numerous near pit and property wide exploration targets offer potential for further additions to the mineral resource.

• Drill Permits in Place: Five separate drill permits are currently in place and are expected to facilitate rig mobilization and efficient exploration on both private and public land, subject to applicable permit transfer or replacement requirements.

• Strengthened Board Leadership: Mr. Alan Pangbourne, who brings over 35 years of experience in global mining operations, has been appointed to the Board of Directors as Chairman.

Michael G. Allen, President and CEO of StrikePoint, said "We are pleased to finalize the acquisition of Northumberland a transformational acquisition for StrikePoint. We anticipate commencing drilling within a month at the project with the goals of expanding and infilling the existing resource. Our geological team will also be evaluating several greenfields targets that we have identified, potentially for drilling in 2027. I would like to thank Tembo Capital, Canaccord Genuity and others for their support through this acquisition process. I look forward to working with incoming Chairman Alan Pangbourne as we collaborate to advance the Northumberland Gold Project.

Alan Pangbourne, Chairman of StrikePoint, said "I'm delighted to join StrikePoint as Chairman at such a pivotal moment. Northumberland gives us a significant resource in one of the world's best mining jurisdictions. The Board's priority is to support Mike and his team in advancing it with discipline: high-quality technical work, careful capital allocation and strong governance, so that every dollar spent builds value for shareholders."

Shawn Khunkhun, Executive Director of StrikePoint, said, "We are thrilled to complete the acquisition of the Northumberland Gold Project, a significant milestone that positions StrikePoint as an exciting emerging gold explorer and developer in Nevada. Northumberland offers tremendous exploration and development potential in one of the world's premier gold jurisdictions. I look forward to working with the team to aggressively advance the Project and unlock significant value for our shareholders."

Initial Mineral Resource Estimate

The current MRE represents StrikePoint's initial MRE for the Project. The available drilling information includes 1,511 reverse-circulation and 37 core holes, drilled by previous operators of the Project, including Cyprus Mines Corporation, Western States Minerals Corporation, Newmont USA Limited, and Fronteer Development Group Inc. StrikePoint has not yet carried out any drilling or exploration activities at the Project.

The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR Consulting (Canada) Ltd. ("SLR"), who is an independent Qualified Person ("QP") for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The MRE has an effective date of July 31, 2026 and uses the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions for Mineral Resources. SLR has estimated a mineral resource as follows:

• Indicated Resource: 67,008 kt containing 2.71 Moz of gold ("Au") grading at 1.26 g/t Au with 11.60 Moz of silver ("Ag") grading at 5.38 g/t Ag. Combined, the gold and silver indicated mineral resource equates to 2.86 Moz of AuEq* at an average grade of 1.33 g/t AuEq*.

• Inferred Resource: 30,967 kt containing 1.52 Moz of gold at a grade of 1.53 g/t Au with 4.26 Moz of silver at a grade of 4.28 g/t Ag. Combined, the gold and silver inferred mineral resource equates to 1.57 Moz of AuEq* at an average grade of 1.58 g/t AuEq*.

* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.

Table 1: Northumberland Resource Estimate (Effective Date of July 31, 2026)

Category	Tonnage (kt)	Grade (g/t Au)	Grade (g/t Ag)	Grade (g/t AuEq*)	Contained Metal (Au oz)	Contained Metal (Ag oz)	Contained Metal (AuEq* oz)
Indicated	67,008	1.26	5.38	1.33	2,709,000	11,599,000	2,857,000
Inferred	30,967	1.53	4.28	1.58	1,519,000	4,260,000	1,568,000

Notes:

1. The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR, who is an independent Qualified Person (QP) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
2. This is the initial MRE for StrikePoint, and reflects revised price, cost, and technical assumptions over historical MREs, which should not be relied on. The MRE incorporates the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions were followed for Mineral Resources.
3. Metallurgical recoveries consider oxidation state as defined by sulphide content: < 0.5% (oxide) and ≥ 0.5% (fresh), and further subdivide fresh material into low, medium and high preg robbing categories as estimated from preg robbing values (PRV) and assumed as follows:

1. Oxide material: 75% for both Au and Ag
2. Fresh, low PRV material: 90% Au; 70% Ag
3. Fresh, medium PRV material: 80% Au; 60% Ag
4. Fresh, high PRV material: 60% Au; 40% Ag

4. Gold Equivalent (AuEq) = Au(g/t) + (Ag(g/t) x (Ag price x Ag recovery / Au price x Au recovery)).
5. Mineral Resources are estimated at variable AuEq cut-off grades based on long term prices of US$3,500 per gold ounce and US$55 per silver ounce and Au and Ag recoveries by material type as follows: 0.16 g/t (oxide); 0.31 g/t (fresh, low PRV); 0.35 g/t (fresh, medium PRV); and 0.47 g/t (fresh, high PRV).
6. Mineral Resources are reported within an optimized pit shell, using the following assumptions:

1. Overall pit slope angles of 45°
2. Mining costs of US$2.12/tonne (t) mined
3. G&A costs of US$1.35/t milled
4. Processing costs of US$12/t milled (oxide); US$30/t milled (sulphide)
5. In situ bulk density is 2.6 t/m³.

7. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no Mineral Reserves at Northumberland.
8. This Mineral Resource estimate includes Inferred Mineral Resources which have had insufficient work to classify them as Indicated Mineral Resources. It is uncertain but reasonably expected that Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
9. Numbers may not add or multiply accurately due to rounding.
10. The effective date of the Mineral Resource Estimate for Northumberland is July 31, 2026
11. The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors not discussed in this news release and the Technical Report that could materially affect the Mineral Resource estimate.

Table 2: Pit Optimization Parameters and Calculation of Marginal Cut-Off Grades

Parameter	Units	Non Preg- Robbing (Oxides)	Low Preg-Robbing	Medium Preg-Robbing	High Preg-Robbing
Gold Price	US$/oz	3,500	3,500	3,500	3,500
Gold Payability	%	99.5	99.5	99.5	99.5
Selling Cost (Transport & Refining)	US$/oz Au	5.00	5.00	5.00	5.00
NSR Price	US$/oz Au	3,495	3,495	3,495	3,495
Metallurgical Recovery	%	75	90	80	60
Unit Operating Costs (Process + G&A)	US$/t milled	13.35	31.35	31.35	31.35
Marginal Cut-off Grade	g/t	0.16	0.31	0.35	0.47

 

The Northumberland deposit is open in multiple directions, and the property package has targets that may be subject to future exploration. Any potential expansion of the MRE would be subject to the results of further exploration.

Technical Report

A technical report titled "NI 43-101 Technical Report Northumberland Gold Project, Nevada, USA", with an effective date of July 31, 2026 (the "Technical Report"), was filed on SEDAR+ in connection with the Company's news release dated August 18, 2026. At the request of the TSX Venture Exchange (the "TSXV"), the Company filed an amended Technical Report on SEDAR+, as announced on September 29, 2026; there were no material changes to the Technical Report. The Technical Report supports the disclosure of the MRE for Northumberland. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The Technical Report is available on SEDAR+ and on the Company's website at www.strikepointgold.com.

The Northumberland Gold Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/317695_1b191ae0946979c3_002full.jpg

References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable results.

Project Location & Infrastructure

Northumberland is located approximately 150 kilometers by road from Tonopah, Nevada. Access is via paved highway and all-weather county road. Northumberland is located within the Walker Lane of Nevada, host to producers such as Kinross's Round Mountain Mine, located approximately 60 kilometers by road south of Northumberland. The Walker Lane is a prolific mineral trend with significant historical production, new discoveries (including AngloGold's Arthur Gold Project as well as Centerra's Goldfield Project, currently under construction) and operational mines including the Round Mountain Mine operated by Kinross. Northumberland's mineralization is considered a Carlin-style. References to other mining projects and operations are for geographic context only and are not intended to imply comparable economics, resources, or production potential.

Northumberland was initially discovered in the late 1800s. Significant oxide mineralization was discovered in the 1930s and was mined intermittently by various operators until 1991. Interests in the property were transferred to Nevada Western Gold LLC, which became a subsidiary of New West Gold in 2005. Fronteer Gold acquired Nevada Western's interest in Northumberland in 2007, before Fronteer, including Northumberland, was acquired by Newmont in 2011.

Transaction Structure

Under the Agreement, Nu Gold LLC, a wholly owned subsidiary of 1599044 B.C. Ltd. ("HoldCo"), a wholly owned subsidiary of StrikePoint, acquired from Newmont USA Limited and Fronteer Development LLC, each a subsidiary of Newmont, certain claims, fee lands, licenses, permits and equipment making up the Project, in consideration for (i) a cash payment in the amount of US$70 million paid on closing; and (ii) contingent payments of US$25 million within 120 days after the completion of a Feasibility Study on Northumberland and US$25 million within 120 days after the achievement of certain commercial production milestones at Northumberland. The Transaction was an arm's length transaction.

Share Consolidation and Brokered Offering

As announced on September 29, 2026, the Company completed a consolidation of all of its issued and outstanding common shares, options and warrants on the basis of ten (10) pre-consolidation securities for every one (1) post-consolidation security (the "Consolidation"), effective October 2, 2026. Immediately following the Consolidation, and prior to the conversion of the Subscription Receipts (as defined below), the Company had approximately 7,239,241 common shares issued and outstanding. The CUSIP number for the post-Consolidation common shares is 86332K509 and the ISIN is CA86332K5098.

As announced on September 9, 2026, 1599042 B.C. Ltd. ("FinCo"), a subsidiary of the Company, completed a bought deal private placement of 95,000,000 subscription receipts of FinCo (the "Subscription Receipts") at a price of C$2.00 per Subscription Receipt for aggregate gross proceeds of C$190 million (the "Brokered Offering"), which included the full exercise of the option granted to the Underwriter (as defined below). Canaccord Genuity Corp. ("Canaccord Genuity" or the "Underwriter") acted as sole underwriter for the Brokered Offering. Each Subscription Receipt entitled the holder thereof to receive one post-Consolidation common share in the capital of the Company (each post-Consolidation common share, a "Share") without any additional consideration or further action upon satisfaction of the Escrow Release Conditions (as defined below).

The net proceeds from the Brokered Offering were used to satisfy the cash component of the Transaction, and the balance will be used to advance exploration and development activities at Northumberland, and for general corporate purposes (less than 10%).

The gross proceeds from the Brokered Offering, less certain expenses of the Underwriter (the "Escrowed Proceeds"), were placed into escrow pending the completion or satisfaction of all escrow release conditions, including, among other things, the completion or satisfaction of all conditions precedent included in the Agreement and the receipt of all required corporate and regulatory approvals in connection with the Transaction (collectively, the "Escrow Release Conditions"), in accordance with a subscription receipt agreement among the Company, FinCo, the Underwriter and Computershare Trust Company of Canada, as subscription receipt agent (the "Subscription Receipt Agent"). The Escrow Release Conditions were satisfied on October 6, 2026, prior to the escrow release deadline of 5:00 p.m. (Toronto time) on October 24, 2026. Upon satisfaction of the Escrow Release Conditions, the cash commission payable to the Underwriter was released to the Underwriter from the Escrowed Proceeds, the balance of the Escrowed Proceeds (less certain expenses of the Subscription Receipt Agent) was released to the Company, and each Subscription Receipt was automatically converted into one Share upon the amalgamation of FinCo and HoldCo pursuant to an amalgamation agreement among the Company, FinCo and HoldCo. An aggregate of 95,000,000 Shares was issued upon conversion of the Subscription Receipts. The Shares issued on conversion of the Subscription Receipts are not subject to a restricted hold period under applicable Canadian securities laws.

In consideration for services rendered in connection with the Brokered Offering, the Company paid: (i) Canaccord Genuity a cash commission equal to 6% of the aggregate gross proceeds of the Brokered Offering, reduced to 3% in respect of the proceeds received from subscribers on a president' list of the Company; and (ii) Arlington Group Asset Management Limited ("Arlington") a cash commission of C$3,855,210. In addition, the Company issued an aggregate of 7,058,020 warrants (the "Warrants") to the Underwriter and to certain eligible arm's length parties, including Ventum Financial Corp. and Arlington. Each Warrant entitles the holder thereof to purchase one Share at a price of C$2.00 for a period of 24 months following the satisfaction of the Escrow Release Conditions. The Warrants will be subject to a hold period expiring four months and a day after issuance.

Certain directors, officers, and other insiders of the Company (collectively, the "Participating Insiders") purchased an aggregate of 137,000 Subscription Receipts pursuant to the Brokered Offering. Each issuance by the Company of securities to a Participating Insider in connection with the issuance of Subscription Receipts of FinCo to the Participating Insiders under the Brokered Offering is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 set out in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 as the fair market value of such transactions, insofar as they involve related parties, is not more than 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the closing of the Brokered Offering because the terms of the Brokered Offering and insider participation had not been established at that time, and the Company elected to proceed with the Brokered Offering as expeditiously as possible and consistent with typical market timelines.

The Transaction constituted a "Fundamental Acquisition" pursuant to TSXV Policy 5.3. Trading in the Shares, which have been halted pending final approval of the TSXV and closing of the Transaction, is expected to resume on the TSXV on or about October 8, 2026.

Tembo Capital Participation and Royalty

As announced on September 9, 2026, Tembo Capital Holdings IV Guernsey Ltd. ("Tembo") purchased 20,300,000 Subscription Receipts in the Brokered Offering. Upon the conversion of the Subscription Receipts, Tembo beneficially owns and controls 20,300,000 Shares, representing approximately 19.9% of the issued and outstanding Shares on a non-diluted basis. Upon satisfaction of the Escrow Release Conditions, the investor rights agreement between the Company and Tembo Capital Mining GP IV Ltd., an affiliate entity of Tembo (the "Investor Rights Agreement"), became effective, pursuant to which Tembo has the right to nominate one representative to the Board of Directors of the Company, one representative on a newly formed technical committee, as well as certain participation rights as permitted by the policies of the TSXV.

In addition, concurrently with closing of the Transaction, the Company completed the sale to Tembo Capital Investments IV LP, an affiliate entity of Tembo, of a 0.5% net smelter return royalty over Northumberland for consideration of US$10 million (the "Royalty Sale"). The Company has the right to buy back half (0.25%) of the royalty for US$25 million at the earlier of five years after completion of the Royalty Sale or 120 days after the commencement of commercial production at Northumberland. An early warning report with respect to Tembo's holdings has been filed under the Company's SEDAR+ profile at www.sedarplus.ca.

Changes to the Board of Directors

Effective upon completion of the Transaction, Mr. Alan Pangbourne has been appointed to the Board of Directors of the Company as Chairman. Mr. Shawn Khunkhun, formerly Executive Chairman, will continue to serve as a director of the Company.

Advisors and Counsel

Canaccord Genuity acted as financial advisor to the Company and as sole underwriter of the Brokered Offering. DuMoulin Black acted as Canadian legal counsel to the Company and Parsons Behle & Latimer acted as U.S. legal counsel to the Company.

Qualified Person Statement

Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR, is the QP who prepared the MRE. SLR is "independent" of StrikePoint as defined by Section 1.5 of NI 43-101.

The QP verified the data underlying the MRE disclosed in this news release, including data verification during a QP site visit on May 12, 2026 with collar verification, a database audit, and cross-checks against original laboratory certificates to validate assays. QA/QC reviews of certified reference materials, blanks, duplicates, and external checks confirmed acceptable accuracy and precision of the drilling data. Twin-hole correlations, survey/deviation and density checks, and sulphur and preg-robbing modelling were also completed to support geometallurgical domaining, and the QP determined that the data is suitable for the estimation of mineral resources. Identified limitations are that preg-robbing/sulphur coverage is sparse relative to the Au assay database; some metallurgical composites are not tied to specific drillholes/intervals; density data for disturbed materials are limited; and geotechnical support for 45° overall pit slopes is not presented.

All technical data and scientific data, as disclosed in this news release, have been reviewed and approved by Michael G. Allen, P.Geo., President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of NI 43-101.

About StrikePoint

StrikePoint is a Vancouver-based multi-asset gold exploration company focused on acquiring, defining and developing precious metals resources in the Western United States. StrikePoint's flagship project is the 100% owned Northumberland Gold Project located in Nevada's Walker Lane. In addition to Northumberland, StrikePoint owns a portfolio of exploration properties in Nevada, including the Hercules and Cuprite Gold Projects.

About Nevada

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple large mining companies operate mines in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwen Mining, and Integra Resources.

ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.

"Michael G. Allen"

Michael G. Allen
President, Chief Executive Officer & Director

For more information, please contact:

StrikePoint Gold Inc. Michael G. Allen, President, CEO & Director  T: (604) 374-8381 E: ma@strikepointgold.com W: www.strikepointgold.com

Knox Henderson, Head of Investor Relations T: (604) 551-2360 E: kh@strikepointgold.com

Cautionary Statement on Forward-Looking Information

Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information are characterized by such terms as "anticipate", "target", "estimate", "plan", "expect", "potential", variants of these words and other similar words, phrases, or statements that certain events or conditions "could", "may", "will", or "would" occur. These forward-looking statements or information relate to, among other things: the intended use of the remaining proceeds from the Brokered Offering; the payment of the contingent consideration to Newmont following completion of a Feasibility Study and the achievement of certain commercial production milestones at Northumberland; the MRE, including the potential upgrade of Inferred Mineral Resources to Indicated Mineral Resources with continued exploration; the Company's exploration and development plans for Northumberland and the results thereof, including the exploration targets described herein and the potential expansion of the MRE; the potential for the location of the MRE on private land to simplify permitting; the timing and completion of a Feasibility Study and commercial production; the rights of Tembo under the Investor Rights Agreement and the Company's buyback right under the royalty held by Tembo; the anticipated resumption of trading in the Shares on the TSXV; and the expectation that existing drill permits will facilitate rig mobilization and efficient exploration, and the transfer or replacement of such permits following closing; the timing of the commencement of drilling, and the results thereof; and the assumptions used to define the mineral resources, including costs and assumed recoveries.

Such forward-looking information and statements are based on numerous assumptions, including, among others, that the MRE will not be materially revised, that further exploration at Northumberland will produce results consistent with management's expectations, that the Company will complete a Feasibility Study and achieve certain commercial production milestones at Northumberland as currently contemplated, that existing drill permits will be successfully transferred or replaced following closing, that required permits and approvals will be obtained on a timely basis, that trading in the Shares will resume on the TSXV within the timeframe anticipated by management, and that the Company will have access to sufficient capital to fund its planned exploration and development activities. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

All of the forward-looking statements made in this document are qualified by these cautionary statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: business integration risks; the accuracy of the MRE, which is based on assumptions regarding metal prices, cut-off grades, recoveries and other parameters that may prove incorrect; the fact that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability; the risk that further exploration will not result in the delineation of additional mineral resources at Northumberland or the upgrade of Inferred Mineral Resources to Indicated Mineral Resources; delays in, or failure to complete, a Feasibility Study or achieve certain commercial production milestones at Northumberland, which would affect the timing of the contingent payments to Newmont; the risk that existing drill permits may not be successfully transferred or replaced following closing; delays in the resumption of trading in the Shares; fluctuations in gold and silver prices; market conditions and access to capital; and other risks associated with the mining industry, including permitting, environmental, title and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

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 for U.S. Investors Concerning Mineral Resources

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under the U.S. Securities and Exchange Commission ("SEC") modernization rules, known as "S-K 1300", and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of a "measured mineral resource", "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category or converted into mineral reserves in accordance with S-K 1300. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a mineral resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC S-K 1300 standards as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this news release contains descriptions of the Company's mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317695

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did StrikePoint pay for the Northumberland Gold Project?

StrikePoint paid US$70 million at closing on October 6, 2026. Two additional contingent payments of US$25 million each are due within 120 days after completion of a feasibility study and achievement of specified commercial production milestones, respectively.

How much did StrikePoint raise to finance the Northumberland acquisition?

The bought deal private placement raised C$190 million in gross proceeds through 95,000,000 subscription receipts at C$2.00 each. Escrow release conditions were satisfied October 6, 2026. Each receipt entitled its holder to one post-consolidation common share without additional payment.

What metal prices underpin StrikePoint’s Northumberland resource estimate?

The resource estimate uses long-term prices of US$3,500 per gold ounce and US$55 per silver ounce. Resources are reported within an optimized pit shell, with variable gold-equivalent cut-off grades and recovery assumptions based on material type.