North Peak Resources Chases Windfall Gold Silver Mineralization Downdip at Prospect Mountain, Eureka, Nevada
North Peak Resources Chases Windfall Gold Silver Mineralization
Downdip at Prospect Mountain, Eureka, Nevada
Calgary, Canada February 24, 2026
North Peak Resources Ltd. (TSX Venture: NPR and OTCQB: NPRLF) (the “Company” or “ North Peak”)
announces results from the remaining holes of the 2025 RC drill program at the Dean Cave and Lower PME
targets (Areas 3 and 4 in Figure 3) on its 100% owned Prospect Mountain property, Nevada (the “Property”).
The latest results from the Lower PME area have returned a significant, broad intersection around the Hamburg-
Dunderberg (Ch/Cd) contact, indicating that the same contact generating the large mineralizing system present
to the east of the Property, on the Windfall trend (currently being drilled by McEwen Mining Inc.) continues
downdip onto the Property.
Drilling Highlights:
• Hole PM25-014RC: Intersected 88.4m averaging 0.24 g/t Au and 15.7 g/t Ag from 425.2m above the
critical Hamburg Dolomite and Dunderberg shale contact. See Table 1 below for details.
• This is important as the intersection was a blind target beneath overthrust barren rocks , that has not
been systematically explored.
• The mineralization remains open in all directions, and the encouraging width and grade supports a
single historical hole in the area drilled by Homestake/Barrick in 2001, s ome 320m away . The
Homestake vertical RC hole (HRH1725) intersected 10.67m @ 4.05 g/t Au , 16 g/t Ag from 173.74m,
16.76 m @ 1.61g/t Au, 92.46 g/t Ag from 358.14m and 3.05m @ 1.62 g/t Au, 140.35 g/t Ag from
399.29m within Hamburg dolomite as it approached the Dunderberg shale contact (see the Technical
Report (defined below)).
"Finding 90 meters of continuous mineralization in the Lower PME area is a pivotal moment for our exploration
thesis," said Rupert Williams, CEO of North Peak. "While the average grade is modest, the sheer scale of the
alteration and the consistency of the gold and silver values are classic hallmarks of being on the doorstep of a
much larger system. Given the extensive drilling activity of Mc Ewen Mining at the same contact zone
immediately to the east and south of the Property, we think this is a very important result for the Company."
Area 4: Lower PME – Three holes were drilled into this area totaling 1416m with only PM25-014RC hitting the
target contact zone of the Hamburg Dolomite (Ch) and the Dunderberg Shale (Cd). This contact is regionally
important for controlling mineralization and is associated with the Windfall trend mineralization and Ruby Deeps
resource. The zone is significant in that it was consistently mineralized throughou t, and although mostly
oxidized, was only weakly bleached. The intersection is typically enriched in Au, Ag, As, Tl, Zn and Pb , and is
very similar to historic hole HRH1725 mentioned above, which also encountered mineralized Ch above the Cd
contact. The area is structurally complex , and further drilling needs to be undertaken to understand the
significance of this new intersection in the context of the historical hole and the other holes which were finished
too soon to reach target. Drill targeting is difficult, as the Ch-Cd contact is hidden beneath barren cover rocks.
The company intends to seek permission for further pads in this area with the intention of drilling later in 2026.
Area 3: Dean Cave complex – Three holes were drilled to completion in this area totaling 1419m and two
holes were abandoned due to excessive deviation and a stuck hammer respectively. The holes were aimed to
test for the upward continuation of mineralization from the Dean and East Cave complexes along the projected
fault intersections. Despite promising alteration and gossan being present in the upper part of the holes, in the
vicinity of the historic Orange tunnel, gold values were only weakly anomalous. A best assay of 1.01 g/t Au over
5ft is recorded in hole PM25-012RC. Long intersections of anomalous zinc are associated with the alteration
and gossans suggesting the holes were slightly distal to main mineralization.
www.northpeakresources.com
TSX Venture: NPR
OTCQB: NPRLF
Figure 1: Lower PME area in relation to the Windfall trend currently being drilled by McEwen mining.
The Company also continues to progress assessing the waste pile economic vi ability and metallurgical tests
are ongoing, with results now expected in Q2 2026. These results will enable the Company to assess and
formalize toll processing options.
Hole ID from
(m)
to (m) interval (m) interval (ft) Au g/t Ag g/t Pb % Zn %
PM25-012RC* 25.91 27.43 1.52 5 1.01 161 0.74 0.56
PM25-014RC * 30.1.75 303.28 1.53 5 1.1 13.6 0.51 0.36
PM25-014RC 425.20 513.59 88.39 294 0.24 15.7 0.55 1.68
Table 1: Significant assay intervals, reported with a 0.1 g/t Au cutoff and 10m internal dilution. True widths are unknown but
expected to be >70% of the intervals. Intersections marked with * are with a 0.5 g/t Au cutoff.
PM25-014RC
HRH1725
Figure 2. Geology map showing drill areas for 2025 campaign (numbered light blue boxes), and their geologic context.
1) Wabash/Williams, 2) Industry Tunnel, 3) Dean Cave, 4) Lower Prospect Mountain East (Lower PME).
Figure 3. Section showing one possible interpretation of the critical ChCd horizon and mineralization on PM Property.
Hole
Total
Depth (m)
Total
Depth (ft) Easting Northing Elev_m Azimuth Dip Area Comment
PM25-007RC 260.6 855 164879 8524283 2592 222 -57 3 Abandoned
PM25-008RC 492.3 1615 164880.7 8524284 2598 222 -50 3
PM25-009RC 510.5 1675 164880 8524282 2597 215 -43 3
PM25-010RC 327.7 1075 165442.4 8523591 2343 92 -60 4
PM25-011RC 510.5 1675 165439.9 8523587 2337 125 -60 4
PM25-012RC 291.1 955 164879.9 8524285 2585 205 -44 3 Abandoned
PM25-013RC 416.1 1365 164882.1 8524284 2596 206 -44 3
PM25-014RC 577.6 1895 165450.2 8523433 2348 114 -58 4
Table 2: Drill hole coordinates and data.
Review by Qualified Person, Quality Control and Reports
Mr. David Pym, CGeol., independent Consulting Geologist for the Company, is the Qualified Person, as defined
under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved
scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral
tenure, nor independently verified the legal status and ownership of the Property or any underlying property
agreements.
Drilling and Sampling: Drilling was carried out using a Canadian built tracked MultiPower Explorer RC drilling
unit, the rig has jacks and a blade and is capable of working on small pads on steep ground to minimise ground
prep. It is capable of drilling to 609m (2000ft) using 4-inch pipe and a 5 1/4-inch bit. Holes were cased down to
5-30ft with 8-inch steel casing drifted in using a tricone bit. RC drilling uses a hammer, that is not face sampling
but samples 4ft away from the hammer. A face sampling hamme r was also used in areas of expected grade .
Under Nevada law, dry sampling is not allowed due to dust restrictions, so RC drilling is done wet, with water
actively pumped down the hole mixing with pulverised sample and coming through the cyclone to an 8 -
compartment rotary fan wet splitter. Each compartment can be shut off giving control of the amount of split
material. Rotary splitter was set up with 1:8 split, with the eighth split going into two calico bags housed in
buckets, for an assay sample and a field duplicate for permanent reference. The remainder of the sample falls
to the ground and runs into the sump. Each assay sample is for a 5ft (1.52m) interval. The splitter and cyclone
are flushed every 4 samples or on noticing a change in colour. Chips were collected from the splitter reject and
put into chip trays for reference. Calico bags are pre-labelled with hole number and footage, with an FD for field
duplicate added to the sample number for the field duplicate. The drilling team are responsible for changing the
bags and the clearly labelled footage intervals on the bags avoids sample mix-ups. Filled sample bags are laid
on the ground in order so a visual check can be easily performed when collecting samples. Samples are loaded
into a plastic crate and dispatched daily to the ALS Global prep-lab in Elko, Nevada. A standard, a blank and a
field duplicate were inserted after every 20 samples, for a QA/QC rate of 15%. Six standards from CDN
Resource Laboratories were rotated through the samples. The standards had gold values ranging from 0.433
to 7.34 ppm. Samples are dried crushed and pulverised and assayed for gold with a 30g fire assay and a 44
element ICP MS suite. Overlimit samples for gold, silver, lead, zinc and copper are automatically re -assayed
by suitable methods.
About North Peak
The Company is a Canadian based gold exploration and development company listed on the TSX Venture
Exchange under the symbol “NPR” and the OTCQB under the symbol “NPRLF”. Launched by the founding
team behind both Kirkland Lake Gold and Rupert Resources, th e team has a strong track record of acquiring
mining assets, applying modern exploration techniques and taking them into operational mines.
North Peak’s flagship property is the Prospect Mountain Mine complex (the “Property”) which lies in the Battle
Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization
have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc
mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization
associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of
at least 610m (2,000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface
exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural
works. A more complete description of the Property’s geology and mineralization, including at the Wabash area,
can be found in the NI 43-101 Technical Report (the “Technical Report”) on the Prospect Mountain Property,
Eureka County, Nevada, USA dated and with an effective date April 10, 2 023, prepared by David Pym (Msc),
CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been
filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company’s website.
The Company cautions that mineralization on adjacent properties is not necessarily indicative of
mineralization on the Property.
For further information, please contact:
Rupert Williams, CEO
Phone: +1-647-424-2305
Email: [email protected]
Website: www.northpeakresources.com
Chelsea Hayes, Director
Phone: +1-647-424-2305
Email: [email protected]
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includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect to completion of the proposed Private
Placement, the anticipated use of proceeds of the Private Placement, timing and completion of any exploration
on the Company’s properties, estimates of mineralization from drilling, sampling and geophysical surveys,
geological information projected from drilling and sampling results and the po tential quantities and grades of
the target zones, the potential for minerals and/or mineral resources and reserves, intentions, beliefs, and
current expectations of the Prospect Mountain Mine complex and the Company, including with respect to the
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