Visionary Concludes Expanded Phase 1 Drilling Campaign at its Pt. Leamington Deposit, Central Newfoundland

Rhea-AI Summary

Visionary (OTCQB: VCGMF) completed an expanded Phase 1 drilling campaign at the 100% owned Pt. Leamington VMS deposit in Central Newfoundland on April 1, 2026. Ten holes totaling 3,556 m were drilled, exceeding the planned 3,000 m program.

Two holes (PL-111, PL-112) report initial assays; eight holes remain pending, including seven testing the newly discovered Kraken copper zone. PL-112 intersected 75.8 m of 0.45% Cu and 23.5 m of 0.43% Cu outside the existing resource. Kraken assay results are anticipated before the end of April.

Positive

• Drilling expanded to 3,556 m, +18.5% versus planned 3,000 m
• PL-112 intersected 75.8 m @ 0.45% Cu plus 23.5 m @ 0.43% Cu
• Seven pending holes specifically target the Kraken copper zone
• Discovery lies outside existing resource and pit shell, enabling growth potential
• Phase 1 is first systematic drilling at site in over 20 years

Negative

• 8 of 10 holes pending assays, creating near-term data uncertainty
• Mineralization at Kraken currently outside existing pit shell, requiring resource conversion
• No new resource or reserve update provided yet, pending assays and modelling

News Market Reaction – VCGMF

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On the day this news was published, VCGMF declined 2.98%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

• Ten drill holes completed totalling 3,556 meters with eight holes pending assays of which seven of the holes targeted the newly discovered Kraken copper zone.

Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - Visionary Copper and Gold Mines Inc. (TSXV: VCG) (OTCQB: VCGMF) ("Visionary" or the "Company") is pleased to announce the successful conclusion of its expanded Phase 1 exploration drilling campaign at the 100% owned Pt. Leamington gold/copper/zinc/silver volcanogenic massive sulphide deposit (the "Deposit") located in Central Newfoundland. The expanded program encompassed ten drill holes for a total of 3,556 meters of drilling, exceeding the originally announced seven hole, 3,000m Phase 1 program (Pt. Leamington Deposit Plan View with 2026 Drilling). Of the ten holes drilled during the campaign, two holes were previously reported, while eight holes are pending assay results.

Max Porterfield, President and CEO of Visionary Copper and Gold Mines Inc., stated "What began as a 3,000-meter program to test key target areas nearby the existing Pt. Leamington mineral resource quickly evolved with the exciting discovery of the Kraken copper zone. The decision to expand the campaign reflects my commitment to aggressively advance the Pt. Leamington deposit. Assay results from the seven holes drilled to test Kraken are eagerly awaited, and I believe the results will further demonstrate the copper endowment at Pt. Leamington."

Seven of the eight holes pending assays were specifically drilled to test the newly discovered Kraken copper zone, a significant copper-rich zone identified early in the Phase 1 program (See News Release Dated March 2, 2026). The remaining hole, pending assays, was drilled to test possible resource expansion of the previously defined Deposit.

Pt. Leamington Deposit Plan View With 2007 Airborne EM & 2026 Drilling

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3408/290832_8caca2f5b489b989_001full.jpg

The Kraken was first identified during the Phase 1 drilling program when drill hole PL-112 intersected 75.8m of 0.45% Cu (248.2m to 324m) and an additional 23.5m of 0.43% Cu (342m to 365.5m) on the newly emerging, lower footwall horizon. The mineralization intersected at Kraken is located outside of the existing resource and pit shell. The significant thickness and grades intersected have the potential for near surface resource growth that may be included in a larger open pit resource shell.

The Kraken discovery prompted the Company to expand its drilling beyond the initially planned 3,000 meters, by dedicating seven holes to systematically identify the geometry, grade, and continuity of this exciting new discovery. The Company looks forward to reporting the Kraken drilling assay results which are anticipated to be available prior to the end of April.

Phase 1 Drilling Program - Summary of Drill Holes

Drill Hole	Total Length (m)	Target / Zone	Assay Status
PL-111	363	Resource Expansion	Results Reported¹ - Extended Strike
PL-112	444	Resource Expansion	Results Reported¹ - Kraken Discovery
PL-113	263	Resource Expansion	Pending Assay
PL-114	304	Kraken Copper Lens	Pending Assay
PL-115	330	Kraken Copper Lens	Pending Assay
PL-116	505	Kraken Copper Lens	Pending Assay
PL-117	255	Kraken Copper Lens	Pending Assay
PL-118	364	Kraken Copper Lens	Pending Assay
PL-119	396	Kraken Copper Lens	Pending Assay
PL-120	333	Resource Expansion	Pending Assay
Total	3,556 m	10 Holes	8 Pending

 

¹ Initial assay results for PL-111 and PL-112 were previously reported on March 2, 2026.

The Phase 1 campaign is the first systematic exploration drilling at the Pt. Leamington deposit in over two decades. The campaign was designed to test resource expansion opportunities along strike and within the known deposit footprint as well as to better define the stratigraphic setting and mineralization controls. The discovery of the Kraken copper zone validates the Company's geological interpretation and the significant exploration upside at Pt. Leamington.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, P. Geo, a qualified person under NI 43-101. Ms. Hutchins is a consultant for the Company and is independent of the Company. Historical information was verified from geological reports filed with the government by previous operators.

About Visionary Copper and Gold Mines Inc.

Visionary Copper and Gold Mines Inc. (TSXV: VCG) (OTCQB: VCGMF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the 100% owned Pt. Leamington Deposit in Newfoundland, located in one of the richest VMS and Gold Districts in Canada. The Company prepared a pit constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (145.7 koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq for 986.5 koz AuEq (354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq for 168.5 koz AuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021). Additionally the Company is permitting the Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. The Company prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading 2.95% CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 Koz Ag, 0.8 Mlb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62% Cu containing 58.1 Mlb Cu (see news release dated July 10, 2023). Additionally, the portfolio includes the Nash Creek Project located in the VMS-rich Bathurst Mining District of New Brunswick. A 2018 PEA generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax) at $1.25 Zinc (see news release dated May 14, 2018).

For additional information, please contact:
Visionary Copper and Gold Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: info@visionarycoppergold.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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Visionary does not assume the obligation to update any forward-looking statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290832

FAQ

What drill results did Visionary (VCGMF) report for PL-112 at Pt. Leamington on April 1, 2026?

PL-112 returned 75.8 m of 0.45% Cu and 23.5 m of 0.43% Cu. According to the company, these intersections are on a new lower footwall horizon outside the current resource and indicate potential near-surface copper growth.

How many meters did Visionary (VCGMF) drill in the expanded Phase 1 at Pt. Leamington?

The company completed 3,556 m across ten holes, exceeding the original 3,000 m plan. According to the company, the expansion funded additional holes to systematically test the newly discovered Kraken copper zone.

When does Visionary (VCGMF) expect Kraken copper zone assay results for Pt. Leamington?

Assay results for Kraken-targeted holes are expected before the end of April 2026. According to the company, seven of the pending assays specifically test Kraken to define geometry, grade, and continuity.

How many drill holes from Visionary's Pt. Leamington Phase 1 remain pending assays as of April 1, 2026?

Eight of ten holes have assays pending. According to the company, two holes (PL-111 and PL-112) have initial assays reported and eight holes await laboratory results.

What significance does the Kraken discovery have for Visionary (VCGMF) at Pt. Leamington?

Kraken represents a new copper-rich zone outside the existing resource and pit shell. According to the company, its thickness and grades could enable near-surface resource growth and potential inclusion in a larger open pit shell.

Did Visionary (VCGMF) report any resource or reserve changes from the Phase 1 drilling at Pt. Leamington?

No updated resource or reserve figures were announced following Phase 1 drilling. According to the company, additional assays and subsequent modelling will be required before any resource revisions can be reported.