Renegade Gold Reports Significant New Mineral Resource Estimate at Red Lake Project, Ontario
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Renegade Gold Reports Significant New Mineral Resource Estimate
at Red Lake Project, Ontario
VANCOUVER, BC, February 18, 202 6 – Renegade Gold Inc. (TSXV: RAGE, OTCQB: RENGF,
FSE: 070) (“Renegade” or the “ Company”) is pleased to announce a new Mineral Resource Estimate
(“MRE”) consisting of 370,000 ounces in the Indicated category and 439,000 ounces in the Inferred
category (See Table 1. Rebel Mineral Resource Estimate below), at its 100%-owned Red Lake gold project,
now renamed the Rebel Gold Deposit (the “Project”). The MRE supports both open pit and underground
development scenarios and demonstrates strong grade continuity across a structurally controlled gold
system, establishing Rebel as a significant gold asset for the Company within the Red Lake Mining District
of Ontario (Figure 1). The Project was previously referred to as the Newman Todd Deposit.
Highlights
• Total Mineral Resource includes 370,000 ounces Indicated and 439,000 o unces Inferred at the
100%-owned Rebel Gold Deposit.
• Open Pit Resource
- 5.57 Mt @ 2.07 g/t Au (370,000 ounces Indicated)
- 2.50 Mt @ 2.42 g/t Au (194,000 ounces Inferred)
• Underground Resource:
- 1.55 Mt @ 4.91 g/t Au (245,000 ounces Inferred)
• Deposit Extended at Depth: Recent drilling by Renegade has confirmed gold mineralization
beyond 700 m depth, more than doubling the historical drill depth, which was largely focused
within the upper 300 m. Substantial expansion potential remains between 300 m and 700 m and at
depth (Figure 2).
• 2026 drilling program planning in progress to target resource expansion toward the one-million-
ounce benchmark.
Table 1. Rebel Mineral Resource Estimate1
Category
Open Pit Underground
Tonnes Au g/t Contained Au (oz) Tonnes Au g/t Contained Au (oz)
Indicated 5,568,000 2.07 370,000
Inferred 2,495,000 2.42 194,000 1,553,000 4.91 245,000
Devin Pickell, President and CEO for Renegade, commented, “ This Mineral Resource Estimate marks a
significant milestone for Renegade. With over 800,000 ounces defined, including a solid Indicated base and
a high-grade underground component, Rebel is emerging as a robust gold deposit in the Red Lake district.
1 A full list of underlying assumptions can be found at Appendix A
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The resource demonstrates grade continuity in both open pit and underground scenarios, reinforcing the
strength of the mineralized system. Improved structural modelling has enhanced our understanding of
plunge and strike controls, which provides a clear path for targeted expansion drilling in 2026. In the
context of the Red Lake camp, Rebel has the potential to contribute meaningful ounces toward existing
milling capacity.”
Rebel 2026 Mineral Resource Estimate
• The Rebel deposit contains in-pit and underground resources. The mineral resource totals 370,000
oz of gold (5.57 million tonnes at an average grade of 2.07 g/t Au) in the Indicated category, and
439,000 ounces of gold (4.05 million tonnes at an average grade 3.37 g/t Au) in the In ferred
category.
- The open pit mineral resource includes, at a base case cut-off grade of 0.6 g/t Au, 370,000
oz of gold (5.57 million tonnes at an average grade of 2.07 g/t Au) in the Indicated category,
and 194,000 ounces of gold (2.50 million tonnes at an average grade of 2.42 g/t Au) in the
Inferred category.
- The underground mineral resource includes, at a base case cut -off grade of 2.2 g/t Au,
245,000 ounces of gold (1.55 million tonnes at an average grade of 4.91 g/t Au) in the
Inferred category.
Table 2. Rebel In-Pit and Underground Mineral Resource Estimate, at Various Au Cut-off Grades2
In-Pit
Cut-off Grade
(Au g/t) Tonnes Grade (g/t Au) Contained Au (oz)
Indicated
0.3 6,577,000 1.82 385,000
0.4 6,266,000 1.89 381,000
0.5 5,927,000 1.98 377,000
0.6 5,568,000 2.07 370,000
0.7 5,195,000 2.17 362,000
1.0 4,049,000 2.54 331,000
1.5 2,555,000 3.31 272,000
2.0 1,740,000 4.06 227,000
2.2 1,480,000 4.39 209,000
Inferred
0.3 2,824,000 2.19 199,000
0.4 2,732,000 2.25 198,000
0.5 2,629,000 2.32 196,000
0.6 2,495,000 2.42 194,000
2 Values in these tables reported above and below the base-case cut-off grades for in-pit MREs and for underground MREs should
not be misconstrued with a Mineral Resource statement. The values are only presented to show the sensitivity of the block mod el
estimates to the selection of the base case cut-off grade (highlighted). All values are rounded to reflect the relative accuracy of the
estimate and numbers may not add due to rounding.
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0.7 2,349,000 2.53 191,000
1.0 1,922,000 2.90 179,000
1.5 1,310,000 3.68 155,000
2.0 946,000 4.44 135,000
2.2 840,000 4.74 128,000
Underground
Cut-off Grade
(Au g/t) Tonnes Grade (g/t Au) Contained Au (oz)
Inferred
0.6 4,916,000 2.37 375,000
0.7 4,583,000 2.50 368,000
1.0 3,637,000 2.93 343,000
1.5 2,370,000 3.84 293,000
2.0 1,721,000 4.63 256,000
2.2 1,553,000 4.91 245,000
2.5 1,353,000 5.29 230,000
3.0 1,101,000 5.85 207,000
5.0 471,000 8.65 131,000
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Figure 1. Plan view of the Rebel Gold Deposit highlighting interpreted mineralized zones and adjacent
project areas. Rowan is considered an adjacent property and information disclosed for adjacent properties
is not necessarily indicative of mineralization at the Rebel Gold Deposit.
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Figure 2. Long section of the Rebel Gold Deposit mineral resource block model (looking northwest).
A technical report supporting the MRE disclosed in this news release will be filed under the Company’s
profile on SEDAR+ within 45 days of the date of this news release.
The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., the
Executive Chair and director of the Company and a Qualified Person pursuant to National Instrument 43 -
101.
About the Rebel Gold Deposit
The 100%-owned Rebel Gold deposit is located approximately 26 km west of Evolution Mining’s Red
Lake operations and 1 km south of West Red Lake’s Rowan deposit, within one of Canada’s most prolific
high-grade gold districts. The Project is accessible via all-season maintained logging roads and includes an
on-site exploration camp.
Rebel is hosted within a broadly mineralized chemical sedimentary package known as the Newman Todd
Structure (“NTS”), 60 to 160 m wide corridor that extends over 2 km across the Property. The NTS hosts
multiple styles of gold mineralization, including breccia vein systems and late r-stage high-grade quartz
veining commonly associated with visible gold.
Recent drilling and updated geological modeling have strengthened the Company’s understanding of
structural controls on mineralization, including later east-west faulting events at the camp scale . Drilling
completed in 2023 and 2024 confirmed gold mineralization beyond 700 m depth, more than doubling the
previous drill horizon, and supports the interpretation that the system remains open and continues at depth.
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2026 Focus
In 2026, Renegade plans to advance the Rebel Gold Deposit through a focused drilling program targeting
resource expansion and develop new drill targets proximal to the existing Resource footprint. Metallurgical
and environmental programs will continue in parallel to support future technical studies.
About Renegade Gold Inc.
Renegade Gold Inc. is a growth -oriented exploration company advancing a district -scale portfolio in the
Red Lake region of Northern Ontario. The Company’s strategy combines advancing defined gold resources
and development-stage assets with systematic greenfields exploration across one of Canada’s most prolific
gold districts.
Renegade has assembled one of the largest and most prospective land packages in Red Lake, totaling
approximately 1,380 km², strategically positioned near producing mines and advanced-stage deposits along
the Confederation Lake and Birch -Uchi greenstone belts. The Company’s diversified portfolio includes
both advanced exploration assets with established Mineral Resources and earlier-stage targets along key
structural corridors that host many of Red Lake’s significant gold discoveries.
For further information, please contact:
Renegade Gold Inc.
Devin Pickell
President, CEO and Director
Tel: 604-678-5308
Neither 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 regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are “forward -looking information” or
“forward-looking statements” (collectively, “Forward -Looking Information”) within the meaning of applicable
Canadian securities legislation and th e United States Private Securities Litigation Reform Act of 1995. The words
“anticipate,” “significant,” “expect,” “may,” “will” and similar expressions are intended to be among the statements
that identify Forward -Looking Information. Forward -Looking Information is subject to known and unknown risks,
uncertainties and other factors that may cause actual results to differ materially from those implied by the forward -
looking information. In preparing the Forward -Looking Information in this news release, the Company has applied
several material assumptions, including, but not limited to, assumptions that general business and economic
conditions will not change in a materially adverse manner and all requisite information will be available in a timely
manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated
operational or technical difficulties, risks related to unforeseen delays; general economic, market or business
conditions, regulatory changes; timeliness of regulatory approvals, the risks of obtaining necessary licenses and
permits, changes in general economic conditions or conditions in the financial markets and the inability to raise
additional financing. Readers are cautioned not to place undue reliance on this Forward -Looking Information. The
Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this
release or to revise such information to reflect the occurrence of future unanticipated events, except as may be
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required under applicable securities laws.
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Appendix A
Rebel Deposit Mineral Resource Estimate Notes:
(1) The effective date of the Rebel project Mineral Resource Estimate (“MRE”) is February 5, 2026.
(2) The mineral resource was estimated by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services and is an independent
Qualified Person as defined by NI 43-101. Dr Armitage conducted a recent site visit to the Red Lake Project on February
5, 2026.
(3) The classification of the current Mineral Resource Estimate into Indicated and Inferred mineral resources is consistent
with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
(4) All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding.
(5) The mineral resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are
considered to have reasonable prospects for eventual economic extraction.
(6) Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral
Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted
to a Mineral Reserve. I t is reasonably expected that most Inferred Mineral Resources could be upgraded to Indicated
Mineral Resources with continued exploration.
(7) The Project mineral resource estimates are based on a validated database which includes data from 274 surface diamond
drill holes totalling 102,429 m. The resource database totals 97,545 drill hole assay intervals representing 92,170 m of
data.
(8) The MRE for the Rebel deposit is based on 37 three-dimensional (“3D”) mineral resource models.
(9) Grades for Au were estimated for each mineralization domain using 1.0 metre capped composites assigned to that
domain. To generate grade within the blocks, the inverse distance squared (ID 2) interpolation method was used for all
domains. An average density value was assigned to each domain.
(10) Based on the location, surface exposure, size, shape, general true thickness, and orientation, it is envisioned that parts
of the Rebel deposit may be mined using open-pit mining methods. In-pit mineral resources are reported at a base case
cut-off grade of 0.6 g/t Au. The in-pit resource grade blocks are quantified above the base case cut-off grade, above the
constraining pit shell, below topography/overburden and within the constraining mineralized domains (considered
mineable shapes).
(11) The pit optimization and base -case cut-off grade consider a gold price of $3,000/oz and considers a gold recovery of
90%. The pit optimization and base case cut -off grade also considers a mining cost of US$2.50/t mined ($2.00/t mined
for overburden), pit s lope of 55⁰ degrees, and processing, treatment, refining, G&A and transportation cost of
USD$31.50/t of mineralized material.
(12) The results from the pit optimization, using the pseudoflow optimization method in Whittle 2022, are used solely for the
purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt
to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in
the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. A Whittle
pit shell at a revenue factor o f 0.52 was selected as the ultimate pit shell for the purposes of this mineral resource
estimate.
(13) Based on the size, shape, general true thickness, and orientation, it is envisioned that parts of the Rebel deposit may be
mined using underground mining methods. Underground mineral resources are reported at a base case cut-off grade of
2.2 g/t Au. The mineral resource grade blocks were quantified above the base case cut -off grade, below surface/pit
surface and within the constraining mineralized wireframes (considered mineable shapes). Based on the size, shape,
general thickness, and orientation of the mineralized structures, it is envisioned that the deposits may be mined using a
combination of underground mining methods including sub-level stoping (SLS) and/or cut and fill (CAF) mining.
(14) The underground base case cut -off grade of 2.2 g/t Au considers a mining cost of US$90.00/t mined, and processing,
treatment, refining, G&A and transportation cost of USD$31.50/t of mineralized material.
(15) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-
political, marketing, or other relevant issues.