Gold Rock Assay Results

12 Mitchell Road

Flin Flon, Manitoba R8A 1N1

Tel: 204-687-3500

Email: [email protected]

Website: BorealGold.ca

BGLD (CSE)

Boreal Gold Reports 15.54 g/t Gold over 2.41m in Drill Hole GR-26-149 Including

81.5 g/t Gold over 0.41m in the High-Grade Gold Rock Vein West of Snow Lake,

Manitoba

Flin Flon, Manitoba, July 30, 2026 –Boreal Gold Inc. (“Boreal”) (CSE:BGLD) is pleased to

announce 15.54 g/t over 2.41m in Drill Hole GR-26-149 in the high-grade Gold Rock Vein during the

Phase 4 winter/spring 2026 drill program on its 100% owned 2922-hectare North Star Gold Project

located approximately 36 km west of Snow Lake, Manitoba. (Boreal Gold (BGLD) News Release April 7

and July 29, 2026).

At the north end of the Gold Rock Vein on Cross-section 63+90N beneath drill holes GR-08-05, GR-08-06,

GR-08-51 and GR-08-52 and GR-08-53 at depth:

GR-26-149 assayed 15.54 g/t gold over 2.41m from 85.17m to 87.58m including 25.7 g/t gold over

1.41m from 85.17m to 86.58m and also including 81.5 g/t gold over 0.41m extending the high-grade

Gold Rock Vein to approximately 60m vertical depth on this section. This selective infill drill hole

intersected over 30 specks of visible gold in drill core.

GR-26-150 assayed 1.61 g/t gold over 1.27m from 103.7m to 104.97m including 10.45 g/t gold over

0.17m from 104.2m to 104.37m extending the high-grade Gold Rock Vein to approximately the 80m

vertical depth on this section. This drill hole was drilled beneath drill hole GR-26-149 in order to extend

gold mineralization at a deeper depth. Although drill hole GR-26-150 did not report the spectacular

values of GR-26-149 above it; the shear remained strong and the biotite alteration, that accompanies

the gold mineralization on the property, remained intense.

Drill Hole Rock Type From-To (m) Width (m) * Au(g/t)

GR-26-149

Gold Rock Quartz

Vein and Stringer

Zone

Average 85.17-87.58 2.41 15.54

Includes 85.17-86.58 1.41 25.7

Includes 85.67-86.08 0.41 81.5

GR-26-150 Gold Rock Quartz

Vein Average 101.5-102.04 0.54 4.28

GR-26-150

Gold Rock Quartz

Vein Biotite Shear

Zone

Average 103.7-104.97 1.27 1.61

Includes 104.2-104.37 0.17 10.45

* Please note that the true width is 85-90% of the core length.

Completed Drill Program at Gold Rock

Boreal Gold is pleased to announce that it has completed 10 HQ drill holes totalling 1326m on the Gold

Rock Quartz Shear Zone this past winter and spring. Due to the late start in April and the spring thaw,

many swamp holes could not be drilled due to ground conditions. These holes are now postponed to a

later date for a winter drill program. Every drill hole during this drill program GR-26-144 to GR-26-153

intersected the Gold Rock Shear Zone where alteration remained strong. Not all holes intersected

spectacular results. 50 m spacing in nuggety gold veins is a hit and miss phenomena in these types of

vein structures. Gold values and vein development at North Star are subject to a number of factors

which are: rheology (susceptibility to fracture and quartz infill) of the host rock, subsequent shearing, re-

shearing and brecciation, folding, iron content which helps the redox reaction to precipitate the gold, the

proximity to porphyry sills and sources of sulphides. The North Star - Gold Rock structures is a long-lived

event as evidence by multiple types of intrusions along and in the shear structure, two ages of crack and

seal in the quartz veins (one with anthophyllite as possibly syn peak metamorphism and a subsequent

biotite ferrodolomitic alteration and a later breccia event. Long lived systems tend to be productive

especially when associated with porphyries. Management is very please with the results of this

program, in that high-grade gold is still being intersected and the shear zone and alteration remains

robust and is still growing at depth.

GR-26-149 was very encouraging, this selective infill drill hole intersected over 30 specks of visible gold

in drill core. Drill hole GR-26-150 drilled down plunge from this hole intersected vuggy pyrite and

pyrrhotite. All core samples have been delivered to SRC Laboratories in Saskatoon, with some assays

that still pending. The recent drilling on the Gold Rock Vein was done with a view of understanding the

potential size of the deposit and to follow the gold shoots to this extent it was only partially successful as

not all desired holes to determine the extent of the vein were completed. Future drilling will

concentrate on completing the 2026 program of undrilled holes and further defining the extent of the

gold shoots at Gold Rock. In addition, more detailed infill drilling at North Star is needed to offset the

coarse gold nugget effect with the aim to add poorly defined resources into a better category to increase

the global resources and to drill more veins and new targets between the two deposits. Ultimately the

plan is to drill off enough tonnes that the combined resource of the North Star and Gold Rock Vein

Structures, as well as any new discoveries with sufficient grade, will warrant to bring it to a prefeasibility

study. This objective will require a few additional drill programs which are diligently and carefully being

planned.

Now that 153 drill holes have been drilled into the high-grade Gold Rock Vein and following these initial

encouraging results, a new NI 43-101 report with a resource estimate on the Gold Rock Vein structure

should be undertaken since no NI 43-101 has been done on the Gold Rock Vein over its last 4 drill

programs beginning in 2008 to present. A new global NI 43-101 resource estimate should also be

undertaken for both the North Star and Gold Rock structures to reflect present day gold prices. The last

NI-43-101 resource estimate on the North Star vein was completed in 2005 using a 7.0 g/t cut-off grade

(September 23, 2005, Wayne W. Valliant, Foran Mining Corporation NI 43-101 Report, filed on SEDAR+)

when gold was $300 US to $400 US per ounce. Now gold is hovering around $4000/oz US or greater

than $5500/oz Canadian today and silver over $60/oz US or greater than $85/oz Canadian today. In the

case of the North Star Vein however it may be more prudent to drill a few infill drill holes and to use the

larger HQ core size as we did at Gold Rock to get a more representative grade because of the coarse

gold nugget effect that characterizes the deposits and then carry out a new resource estimate based on

the infill drill findings and using a different cut off grade.

The Property Group

The North Star Property Group consists of three contiguous properties which are: the North Star Gold

Property, which includes the North Star Mining Lease; the Gold Rock Mining Lease and the Sewell Lake

Critical Metals Property. The Sewell Lake Property is contiguous and contains the same felsic volcanic

stratigraphy with HudBay Minerals Rail Zone Copper Deposit to the south and the former Dickstone

Copper Zinc Mine to the North.

The North Star and Gold Rock properties host a series of deposits along the same 2.5 km long structure.

The North Star near the north end of the shear is roughly 2 to 4 meters wide with a grade averaging from

face sampling around 0.29 oz gold/ tonne (Foran Mining Corporation (FOM) Press Release May 25, 2004

and Boreal Gold (BGLD) Press Release April 17, 2025. The Gold Rock at the north end of the shear

consists presently of at least two zones 0.5 to 3 m (2 to 10ft) wide, but is higher grade on average than

North Star. There has not been a lot of drilling in between the two deposits which are approximately 1

km apart on the same structure. Also on this group are a number of parallel but narrower gold structures

both to the west and to the east. The West Vein is parallel and immediately west of the North Star

Deposit and the Richard Vein parallel and North East of the Gold Rock are most notable of these

structures. Important intersects of the West Vein are 26.75 g/t Au over 1.1 m from drill hole NS-04-57,

76.18g/t Au over 0.7 m in drill hole NS-03-45, 30.68 g/t Au over 1.0 m in drill hole NS-03-02 and 191.70

g/t Au over 0.2 m in drill hole NS-05-87 (September 23, 2005, Wayne W. Valliant, Foran Mining

Corporation NI 43-101 Report, filed on SEDAR+). The Richard vein in the 2010 drilling returned values of

15.65 g/t Au over 1.5 meters in drill hole GR-10-115 and 14.41 g/t Au over 3.3 meters in drill hole GR-10-

114 (Voyageur Mineral Explorers Corp. Press Release April 28, 2010).

In 2003 Foran Mining Corporation (“Foran”) carried out extensive work on the property under then

President and CEO, Stephen Masson. After the acquisition of Foran’s McIlvenna deposit the property was

shelved in favour of the larger project. In 2007 Copper Reef Mining Corporation under Stephen Masson,

after leaving Foran in 2006, acquired the property from Foran where it carried out three more drill

programs, mainly on the Gold Rock Vein and Richard Vein, as well as completed an VTEM Airborne

Magnetic and EM Survey over the entire North Star Group. After 2012, Copper Reef found it difficult to

raise funds for the project, due to market conditions and much lower gold prices than we currently have.

Drilling Going Forward Should Commence in the Next Couple of Weeks

Now that the winter drilling (2026) has been completed at the North Star property in Snow Lake,

Manitoba, Boreal Gold will now focus on exploring the Fay Lake property in Flin Flon, Manitoba both

with drilling and geological mapping and prospecting. Having completed the cutting of the drill and

chopper pads, Boreal will commence drilling approximately a 1,000-metre drill program on the Fay Lake

Property. The drill program at Fay Lake will target the Redwin volcanic massive sulphide (“VMS”) horizon

as well as high-grade gold quartz veins found in trenches (Pearson, J. September 04, 2024 NI 43-101

Technical Report) proximal to or within the Redwin horizon.

The Koscielny Lake showings at the far east of the Fay Lake Property south of Puffy Lake hosting 1-1.5 m

wide quartz veins cutting gabbro and iron formation will also be tested with two drill holes. Sampling last

fall returned grades up to 9 g/t gold with historic drilling reporting mineralized quartz containing pyrite

and visible gold (V.G. in the lithologic descriptions) was intersected in 6 drill holes by A.L Parres in 1950

(A.F. 90520) (Heine 2003, Mineral Deposit Series Report No. 30).

The large Fay Lake Property (2719 Ha) is located between Hudbay’s Vamp Lake Deposits and Minnova’s

Puffy Lake Gold Mine which was covered by a new airborne EM survey. The Fay Lake properties contain

the 3.5-kilometer long Redwin Deposit horizon (now completely mapped), with significant gold and

copper along a similar gold rich VMS horizon hosting Hudbay’s Vamp Lake deposits as well as other gold

showings (mapping in progress) similar to Puffy Lake Mine style mineralization. Line cutting a grid

extension towards Puffy Lake accompanied by detailed mapping and prospecting will also take place

concurrently with the Fay Lake summer drill program with a focus both on gold structures similar to

Puffy Lake which flank quartz pebble conglomerates and following the extension of a separate gold

mineralized quartz feldspar porphyry (Fay showing) which is open to the east.

Boreal Gold is now at a stage where it poised to bring real growth by drilling the selected targets on its

Fay Lake Property and the subsequent drill programs on the North Star Group following its completed

acquisition. Boreal focussing more on gold is on the backdrop of rising gold and silver prices that are at

record levels with gold hovering around $4000/oz US or greater than $5500/oz Canadian today and silver

over $60/oz US or greater than $85/oz Canadian today.

About Boreal Gold Inc.

Boreal Gold Inc. is a Canadian junior mineral exploration company with a specific focus on mineral

properties in northwest Manitoba and northeast Saskatchewan, Canada. All of the Company’s properties

are currently at the exploration stage. The Company has assembled a portfolio of base metal and

precious metal prospects in strategic locations in the Provinces of Manitoba and Saskatchewan.

The Company employs QA/QC protocol on all aspects of its analytical procedures. Core samples are sawn

and one half of the HQ core is restored to the core boxes for future reference and one half sent for

analysis. The rock samples were placed in standard plastic bags which were then placed into rice bags

that were wired shut for shipment. The rice bags were delivered to SRC Laboratories in Saskatoon.

Samples of veining or mineralization are taken in approximately 50 cm intervals or less.

Commercially prepared standards representing 3 ranges of gold grades are inserted at intervals of 1 in 10

samples. A blank rock is inserted every 20 samples.

Sample preparation and analytical work is conducted at SRC laboratories in Saskatoon, Saskatchewan

(certification ISO/IEC 17025:2017) utilizing the gravimetric overlimit analysis (method Au 9).

Qualified Person

Stephen L. Masson, M.Sc., P .Geo. is the “Qualified Person” as defined by NI 43-101 Standards of

Disclosure for Mineral Projects for this property has confirmed the visual descriptions, supervised the

Quality Control and all aspects of the exploration program. Mr. Masson acts as a consulting geologist for

the company. He has reviewed the drill core and confirms the visual descriptions while logging some of

the drill holes from this winter’s 2026 program.

Boreal Gold Inc

“signed”

Richard Masson

President & CEO

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of

this release.

Cautionary Statement regarding Forward-Looking Information and Statements, Risk Factors

This news release contains certain forward-looking information and forward-looking statements, as defined under applicable

securities laws (collectively referred to herein as “forward-looking statements”). These statements relate to future events or

to the future performance of the Company and reflect management’s expectations and assumptions as of the date hereof or

as of the date of such forward-looking statement. Such forward-looking statements include, but are not limited to, statements

regarding the Company’s objectives and its strategies to achieve such objectives; the Company’s beliefs, plans, estimates,

projections and intentions, and similar statements concerning anticipated future events; specific statements in respect of the

Company’s ability to unlock exploration opportunities and potential in the Property, and its other current projects and

properties; the Company’s exercise of the Option under the Agreement; the Company’s exploration plans and activities,

including in respect of long-term exploration; the Company’s exploration target pipeline; the Company’s ability to deliver on

exploration success and sustained value across the Company’s properties; the Company’s buyback of any Net Smelter Returns

granted to EVR upon the potential exercise of the Option under the Agreement; the Company’s geological surveys and

interpretation of mineralization; the value of EVR’s royalty package; expectations regarding the Company’s development and

advanced exploration activities; and expectations, assumptions and targets in respect of the Company’s feasibility studies. All

statements other than statements of historical fact are forward-looking statements. The forward- looking statements in this

news release speak only as of the date of this news release or as of the date specified in such statement.

Inherent in forward-looking statements are known and unknown risks, estimates, assumptions, uncertainties and other

factors that may cause the actual results, performance or achievements of the Company to be materially different from any

future results, performance or achievements expressed or implied by the forward-looking statements contained in this news

release. These factors include management's belief or expectations relating to the following and management's response with

regard to the following: the Company’s reliance on its current projects and properties; the Company is exposed to risks

related to mineral resources exploration and development; the Company has no history of mineral production; the Company’s

operations are subject to extensive environmental, health and safety regulations; mining operations involve hazards and risks;

and the additional risks identified in the Company’s filings with Canadian securities regulators on SEDAR+ in Canada (available

at www.sedarplus.ca). The forward-looking statements contained in this news release reflect the Company's current views

with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by

the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and

contingencies. These assumptions include the availability of funds for the Company’s projects; availability of equipment;

sustained labour stability; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the

ability to comply with environmental, health and safety laws. Although the Company has attempted to identify important

factors that could cause actual results to differ materially, there may be other factors that cause results not to be as

anticipated, estimated, described or intended.

Readers are cautioned not to place undue reliance on forward-looking statements and should note that the assumptions and

risk factors discussed in this press release are not exhaustive. Actual results and developments are likely to differ, and may

differ materially, from those expressed or implied by the forward-looking statements contained in this press release. All

forward-looking statements herein are qualified by this cautionary statement. The Company disclaims any intention or

obligation to update or revise any forward-looking statements, whether as a result of new information, future events or

otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no

inference should be drawn that it will make additional updates with respect to those or other forward-looking statements,

unless required by law. Additional information about these assumptions, risks and uncertainties is contained in our filings with

securities regulator.