ICG Silver & Gold Reports Q2 2026 Financial Results
ICG Silver & Gold Reports Q2 2026 Financial
Results
Figures below are expressed in Canadian dollars unless otherwise stated
Mobilized drill rig for fully-funded 3,000-meter Phase 1 Drill Program in June 2026, with drilling
commencing subsequent to quarter end
Expanded Tuscarora District land position to approximately 10,000 acres and historical drilling
database to over 40,000 meters
Reported cash of approximately $3.23 million and working capital of approximately $3.85
million as at June 30, 2026
Toronto, Ontario--(Newsfile Corp. - August 28, 2026) -
ICG Silver & Gold Ltd. (CSE: ICG) (FSE: JI0)
(OTC Pink: ICGSF) ("ICG"
or the
"Company")
a precious minerals exploration company focused on
the Tuscarora District in Elko County, Nevada (the "
Project
" or "
District
"), is pleased to announce the
filing of its unaudited condensed consolidated interim financial statements and management's
discussion and analysis ("
MD&A
") for the three and six months ended June 30, 2026. The Company's
financial statements, MD&A and related filings are available under the Company's profile on SEDAR+ at
www.sedarplus.ca
.
Q2 2026 Highlights
Mobilized first drill rig and crew to the Tuscarora District in June 2026 in preparation for the
Company's fully-funded 3,000-meter Phase 1 Drill Program, with drilling commencing subsequent
to quarter end.
Advanced permitting, drill targeting and site preparation activities for the Phase 1 Drill Program,
which was designed to test multiple priority silver and gold targets across the District.
Expanded the Tuscarora District land position by approximately 2,000 acres through staking and
consolidation activities, increasing the Company's land position to approximately 10,000 acres as
at quarter end.
Completed the Company’s initial district-scale geological modeling and database compilation
initiative, increasing the historical drilling database from approximately 25,000 meters to over
40,000 meters across the District.
Reported cash of approximately $3.23 million and working capital of approximately $3.85 million
as at June 30, 2026, positioning the Company to advance exploration activities at the Tuscarora
District.
Subsequent Events
July 6, 2026
: Commenced the Company's fully-funded 3,000-meter Phase 1 Drill Program at the
Tuscarora District.
July 29, 2026
: Staked six additional unpatented mineral claims totaling approximately 120 acres at
the newly identified TJ prospect, further expanding the Company's land position within the
Tuscarora District.
August 10, 2026
: Completed the FINRA Form 211 process and secured DTC eligibility for the
Company's common shares trading in the United States under the symbol "ICGSF".
August 25, 2026
: Reported that Phase 1 drilling had advanced to approximately 2,525 meters
across 10 reverse circulation holes at the Silica, Battle Mountain, Kings Vein and East Pediment
targets, representing approximately 84% of the planned 3,000-meter program, with initial assay
results pending.
"The second quarter represented an important transition for ICG as we moved from building the technical
foundation for the Tuscarora District into executing our first drill program,"
said Steven Sirbovan,
President, CEO and Director.
"We ended the quarter with a strong working capital position, an
expanded district-scale land package and the drill rig mobilized to site. Since quarter end, we have
advanced Phase 1 drilling to approximately 2,525 meters across four target areas, while continuing to
expand and refine our geological model. We believe we are well positioned to continue systematically
advancing the Tuscarora District through the remainder of 2026."
Q2 2026 Commentary
During the second quarter of 2026, ICG continued its transition from district-scale geological compilation
and target generation into active exploration at the Tuscarora District. The Company completed key
permitting, contractor engagement, site preparation and mobilization activities required to commence its
fully-funded Phase 1 Drill Program, with the drill rig arriving on site prior to quarter end and drilling
commencing on July 6, 2026.
The Company also continued to expand and strengthen its district-scale land position and geological
database during the quarter. Through staking and consolidation activities, ICG expanded its land
position to approximately 10,000 acres as at June 30, 2026. The Company also completed its initial
district-scale geological modeling and database compilation initiative, increasing the historical drilling
database from approximately 25,000 meters to over 40,000 meters.
For the three and six months ended June 30, 2026, the Company reported net and comprehensive
losses of approximately $1.48 million and $2.73 million, respectively. Expenses during the periods
primarily reflected:
Exploration and evaluation expenditures associated with the advancement and commencement of
the Company's Phase 1 Drill Program, together with land management costs, including lease,
advance royalty and other property-related payments; and
Corporate and public-company expenditures associated with ICG's first full quarter as a publicly
listed issuer, including investor relations, management and administrative costs, professional fees
and share-based compensation.
As at June 30, 2026, the Company had approximately $3.23 million of cash and working capital of
approximately $3.85 million.
Selected Financial Information
As at, or for the period ended
June 30, 2026
Cash
$3.23 million
Working Capital
$3.85 million
Exploration & Evaluation Assets
$4.04 million
Total Assets
$8.29 million
Net Loss for the three and six months ended June
30, 2026, respectively
$1.48 million and $2.73 million
The Company's unaudited condensed consolidated interim financial statements and related MD&A for
the three and six months ended June 30, 2026, are available on SEDAR+ at
www.sedarplus.ca
and on
the Company's website.
QP Statement
The scientific and technical information contained in this news release has been reviewed and approved
by Steven L. McMillin, P.G., of Rangefront Mining Services, a “Qualified Person” as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral Projects and an independent consultant to the
Company.
About ICG Silver & Gold Ltd.
ICG Silver & Gold Ltd. is a new mineral exploration and development company advancing the Tuscarora
District in northern Nevada. The Company's strategy is centered on:
Advancing the Tuscarora District through systematic exploration and technical studies;
Building a district-scale geological model; and
Progressing the project toward resource definition and future development.
The Tuscarora District is a silver-gold epithermal system located on the Carlin Trend, approximately one
hour northwest of Elko, Nevada. ICG controls 100% of the approximately 10,000-acre land package,
which has extensive rock chip sampling, thousands of meters of reverse circulation and core drilling, and
tens of kilometers of CSAMT geophysics completed on the property. ICG fundamentally believes in the
long-term value of precious metals exploration, especially silver and gold, and is led by a technical and
management team with extensive experience in exploration, permitting, capital markets, and
development of mining projects in the Western United States, including Nevada.
On Behalf of ICG Silver & Gold Ltd. Board of Directors:
Steven Sirbovan, President, CEO & Director
Corporate Office: 82 Richmond Street East, Toronto, ON, M5C 1P1
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 /
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
news release.
Forward-looking Information
This news release includes certain statements that may be deemed "forward-looking statements". All
statements in this news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are 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.
Forward-looking statements in this news release include, without limitation, statements related to ICG's
exploration plans, including the anticipated Phase 1 Drill Program, its scope, timing, targets and
methodology; the potential for shared or overlapped mineralizing episodes; the identification of feeder
structures and structural controls on mineralization; the Company's strategy to consolidate and control
a district-scale land position; and the potential to expand mineralization laterally and at depth.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, including assumptions regarding the availability of financing to
fund exploration activities, the receipt of necessary permits and regulatory approvals, the accuracy of
the Company's geological interpretations and models, and the reliability of historical data, such
statements are not guarantees of future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause the actual results to differ materially
from those in forward-looking statements include market prices, continued availability of capital and
financing, exploration risks and uncertainties, the ability to obtain necessary permits and regulatory
approvals, changes in environmental and other applicable legislation, the uncertainty of mineral
exploration and development, title risks, reliance on key personnel, and general economic, market or
business conditions. Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made. Except as required by
applicable securities laws, the Company undertakes no obligation to update these forward-looking
statements in the event that management's beliefs, estimates or opinions, or other factors, should
change.
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https://www.newsfilecorp.com/release/311974