RPX Gold Announces Positive Metallurgical Test Results
RPX Gold Announces Positive Metallurgical Test Results
TORONTO--(BUSINESS WIRE)--September 2, 2026--RPX Gold Inc. (“RPX Gold”, “RPX” or
the “Company”) (TSXV: RPX. OTCQB: RDEXF) is pleased to announce preliminary
metallurgical results from 26 of 71 samples at the Wawa Gold Project (the “Project”) in Ontario.
The samples were subjected to cyanidation bottle roll testing by SGS Canada Inc. at Lakefield
(Ontario) (“SGS”) as part of the Company’s 2026 metallurgical variability testing program in
preparation for a prefeasibility study (“PFS”), targeted for completion by mid-2027.
2026 Metallurgical Testing Results Highlights (Figure 1 and Table 1):
Cyanidation test work yielded gold extraction averaging 93.4% at an average calculated
head grade of 4.42 grams per tonne gold (“g/t Au”) for samples within zones defined as
potential initial open pits.
For underground material, gold extraction averaged 88.3% at an average calculated head
grade of 8.24 g/t Au for development zones outlined in the 2026 Preliminary Economic
Assessment (“2026 PEA”) (see news release dated February 18, 2026).
Michael Michaud, President and CEO of RPX Gold, commented: “The latest preliminary
metallurgical results are very encouraging and provide further support for the development
assumptions underlying the Wawa Gold Project. Importantly, the samples representing areas
with starter pit potential returned an average gold recovery of 93.4%, compared to 88.0% gold
recovery assumed in the 2026 PEA. Samples representing the underground mine plan averaged
88.3%, demonstrating strong recoveries across a range of grades and mineralogical
characteristics.
“These results further validate the use of conventional cyanidation recovery for Wawa gold
mineralization and reinforce our confidence in the Project’s potential compatibility with
regional toll-milling facilities. With testing on the remaining samples continuing, the expanded
metallurgical program will provide important data for optimizing recovery assumptions as we
advance the Wawa Gold Project toward the PFS targeted for completion by mid-2027.
“With two drill rigs now active, we are well positioned to accelerate our fully-funded 20,000
metre drill program and move efficiently toward an updated mineral resource estimate and PFS.
Our immediate focus is completing the resource conversion drilling needed to upgrade areas of
the mine plan that were classified as inferred resources in the 2026 PEA in parallel with the
metallurgical, geotechnical and grade validation required to support the PFS and the de-risking
of the Project.”
2026 Metallurgical Testing Program
The 2026 metallurgical testing program aims to characterize the cyanidation recovery profile of
the Wawa Gold Project deposit. The test samples are from areas with open-pit and underground
potential outlined in the 2026 PEA. The program is testing 71 composited samples that are
covering a range of gold grades and mineral assemblages. The samples are distributed in the
different areas outlined in the 2026 PEA mine plan, and areas identified with open-pit potential.
The test program is also testing the leaching kinetics of the material under cyanidation.
Composite samples subjected to metallurgical testing were selected from one-quarter NQ/HQ
core and from historical BQ/AQ drill core. In certain drill holes, more than one composite
sample was selected to cover variations in grade and mineral assemblages.
Sample preparation at SGS involved crushing diamond drill core to 10 millimeters (“mm”),
followed by staged crushing and screening to yield a 100% passing 1.7 mm sample. The crushed
sample is then homogenized and split to provide a composite 1.0 kilogram (“kg”) sub-sample
that is subjected to wet grinding at 65% solids by weight to provide a product grind size of 80%
(“P80”) passing 75 micron (“μm”).
At a nominal 75 μm (P80) grind size, the 1.0 kg sub-sample for each composite is subjected to 6-
hour pre-aeration followed by a rate kinetic cyanidation bottle roll for 48 hours at 42% solids
with cyanide checks at 4, 8, 12, 24, 36, 48 hours with a target 1.5 grams per liter NaCN at slurry
pH 10.5. The solution aliquot removed for cyanide checks is also subjected to gold (Au) and
silver (Ag) analysis to provide dissolution rate kinetics.
Chemical characterization include:
Duplicate Au assays by fire assay
Ag by fire assay
Sulfide sulfur by Leco
ICP scan to include As, Cu, Fe, Pb, Sb, and Zn
Cyanidation recoveries range from 85.4% to 97.3%, averaging 93.4% for 13 samples
averaging 4.42 g/t Au in areas with surface pit potential containing calculated gold head
grades ranging from 0.73 g/t Au to 18.60 g/t Au;
o The average recovery is 94.5% for the 7 samples with calculated head grade
between 1.64 g/t and 3.75 g/t Au and an average grade of 2.32 g/t Au that is
representative of the grade of 2.4 g/t for the material considered for open pit
mining in the 2026 PEA.
Cyanidation recoveries range from 77.4% to 94.3% averaging 88.3% for 13 samples
averaging 8.24 g/t Au taken in the 2026 PEA underground development, containing
calculated gold head grades ranging from 1.99 g/t Au to 23.70 g/t Au;
o The average recovery is 87.1% for the 8 samples with calculated head grade
between 1.99 g/t and 7.71 g/t Au and an average grade of 4.12 g/t Au that is
representative of the grade of 3.6 g/t for the material considered for underground
mining in the 2026 PEA.
Cyanidation recoveries range from 77.4% to 95.5% averaging 87.7% for 10 of the 26
samples containing arsenopyrite with arsenic (“As”) content from 300 parts per million
(“ppm”) to 2,850 ppm As.
o The 2026 PEA estimated that 15% of the deposit is comprised of material
containing more than 500 ppm As.
Table 1 – Samples with cyanidation results tested as part of the 2026 metallurgical testing
program
Hole ID Sample
ID
Material
type
From
(m)
To
(m)
Length
(m)
Au
direct
assay
(g/t)
As
(ppm)*
S
(wt. %)
Au
calculated
head (g/t)
Au
residue
Assay
(g/t)
48 h
cyanidation
recovery
(%)
Development Zone
HS-15-
31
MET-
10 RPX 61.00 68.00 7.00 0.71 < 70 0.35 0.73 0.07 90.4 OP Central
SD-25-
541
MET-
12 RPX 17.64 23.88 6.24 1.60 < 70 0.4 1.64 0.16 90.5 OP Central
HS-15-
31 MET-9 RPX 72.00 79.00 6.00 5.58 < 70 0.67 5.80 0.42 92.8 OP Central
SD-18-
248
MET-
15 RPX 103.83 111.31 7.48 4.79 7.15 1.08 4.81 0.70 85.4 OP South
Pit
SD-26-
627
MET-
24 RPX 128.04 136.78 8.74 4.39 626 0.51 5.00 0.39 92.2 OP South
Pit
SD-26-
627 MET-6 RPX 120.00 127.03 7.03 2.61 < 70 0.45 2.55 0.18 92.9 OP South
Pit
SD-25-
588
MET-
16 RPX 107.11 118.30 11.19 2.52 9.11 0.33 1.77 0.11 94.1 OP South
Pit
SD-25-
573
MET-
13 RPX 85.00 92.00 7.00 6.11 < 70 0.41 3.03 0.17 94.4 OP South
Pit
SD-26-
630
MET-
35 RPX 56.90 61.96 5.06 1.62 53 0.24 1.78 0.09 95.2 OP South
Pit
SD-26-
626
MET-
25 RPX 107.35 113.00 5.65 18.80 456 0.64 18.60 0.84 95.5 OP South
Pit
SD-25-
589 MET-8 RPX 85.54 91.97 6.43 9.33 < 70 0.20 6.26 0.24 96.2 OP South
Pit
SD-25-
573
MET-
18 RPX 93.00 98.72 5.72 2.23 15.3 0.47 1.73 0.06 96.8 OP South
Pit
SD-18-
248
MET-
19 RPX 113.14 127.84 14.70 1.87 1.56 0.36 3.75 0.10 97.3 OP South
Pit
Average
OP
samples
7.56 4.78 < 122 0.47 4.42 0.27 93.4 OP
U0882L6 MET-
28 Historical 0.00 10.06 10.06 6.15 1170 1.57 6.57 1.29 80.4 UG 65
U0913L6 MET-
31 Historical 0 7.62 7.62 7.23 1210 1.56 8.53 1.12 86.9 UG 65
SD-14-
04
MET-
36 RPX 255.50 267.00 11.50 4.09 95 1.21 4.26 0.45 89.4 UG 65
U0491L5 MET-
33 Historical 2.44 8.23 5.79 10.10 423 1.05 10.50 1.08 89.7 UG 65
U0669L5 MET-
26 Historical 9.30 20.73 11.43 34.50 529 0.71 23.70 1.47 93.8 UG 65
U0659L5 MET-3 Historical 0.30 7.47 7.17 2.62 < 70 1.32 3.33 0.19 94.3 UG 65
U1701L4 MET-
32 Historical 0.00 6.86 6.86 2.31 395 0.63 2.40 0.33 86.5 UG Jubilee
U1663L5 MET-2 Historical 0.61 6.71 6.10 7.42 2850 1.20 7.71 1.75 77.4 UG Old
Tom
U1680L5 MET-1 Historical 111.25 130.45 19.20 3.02 895 0.46 3.32 0.46 86.2 UG Old
Tom
U1650L5 MET-7 Historical 84.12 89.61 5.49 13.60 1010 0.96 14.20 1.64 88.4 UG Old
Tom
SD-23-
457 MET-5 RPX 235.15 241.93 6.78 2.23 26.5 0.89 1.99 0.20 90.2 UG
Old
Tom -
Upper
AV-11-
018
MET-
11 Historical 149.63 156.84 7.21 3.18 < 70 0.79 3.38 0.26 92.5 UG
Old
Tom -
Upper
SD-18-
255
MET-
23 RPX 187.00 193.75 6.75 17.70 18.3 0.82 17.20 1.29 92.5 UG
Old
Tom -
Upper
Average
UG
samples
8.61 8.78 < 674 1.01 8.24 0.89 88.3 UG
*Italicized As values are from the original core samples as the As analyses for the samples tested at SGS remain pending; OP =
Open=pit, UG = Underground
Qualified Person
Jean-François Montreuil, P.Geo., Vice President, Exploration at RPX Gold, and a Qualified
Person as defined under National Instrument 43-101, has reviewed and approved the scientific
and technical information in this press release.
The metallurgical test work was supported by Steve Haggarty, P.Eng, of Haggarty Technical
Services Corporation and conducted by SGS Canada Inc. at the Lakefield facility (Ontario). SGS
is the world's leading testing, inspection and certification company. Their metallurgy and
consulting team have been active in Canada for more than 80 years and includes a network of
five laboratories and field offices across North America with locations in Lakefield, ON,
Burnaby BC, Quebec City, QC, Blainville, QC and Tucson, AZ.
About RPX Gold Inc.
RPX Gold Inc. is a gold exploration company, advancing the flagship Wawa Gold Project
located in northwestern Ontario, in the Michipicoten Greenstone Belt of Ontario, and is adjacent
to several established gold-producing operations, including those operated by Wesdome Gold
Mines Ltd., Alamos Gold Inc. and Hemlo Mining Corp. The Wawa Gold Project benefits from
strong local infrastructure and excess regional mill capacity.
The Company is evaluating open-pit operations designed to generate early cash flow to help fund
the advancement of the underground operation. This phased approach is aimed at de-risking
development, accelerating the time to revenue and minimizing shareholder dilution. The
approach is subject to the completion of a number of milestones before a production decision can
be made, such as continued drilling and mineral resource definition, conducting additional
metallurgical test work, completing a prefeasibility study, continuing baseline studies as well as
additional permitting and Indigenous consultations, among other factors.
The Wawa Gold Project currently hosts mineral resources from two mineral deposits, namely the
Jubilee Shear and the Minto Mine. The mineral resources include an indicated mineral resource
of 22.909 million (“M”) tonnes grading 1.69 g/t Au containing 1,244,000 ounces Au and an
inferred mineral resource of 9.951 M tonnes grading 1.59 g/t Au containing 509,000 ounces Au,
with both open-pit and underground mining potential. Gold mineralization extends to surface on
a historic mining property, which supports the Company’s phased development strategy. Please
refer to the technical report entitled “Preliminary Economic Assessment: Wawa Gold Project”
with an effective date of February 18, 2026, which is available on www.SEDARPLUS.ca under
the Company’s profile for more information.
The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the
OTCQB Markets under the symbol “RDEXF”.
For material information about the Company, visit http://www.rpxgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute “forward-looking information” within the
meaning of applicable securities laws, including statements regarding the plans, intentions,
beliefs and current expectations of the Company with respect to future business activities and
operating performance.
Forward-looking information is often identified by the words “may”, “would”, “could”,
“should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar
expressions. Forward-looking information contained in this news release includes, but may not
be limited to: statements regarding completion of the PFS by mid-2027; the expanded
metallurgical program providing important data for optimizing recovery assumptions as the
Wawa Gold Project is advanced toward completion of the PFS; acceleration of the Company’s
20,000 metre drill program and completing an updated mineral resource estimate; and
completing the resource conversion drilling needed to upgrade areas of the mine plan that were
classified as inferred resources in the 2026 PEA in parallel with the metallurgical, geotechnical
and grade validation required to support the PFS and the de-risking of the Project.. Investors are
cautioned that forward-looking information is not based on historical facts but instead reflects
management’s expectations, estimates or projections concerning future results or events based on
the opinions, assumptions and estimates of management considered reasonable at the date the
statements are made. Such opinions, assumptions and estimates are inherently subject to a
variety of risks and uncertainties that could cause actual events or results to differ materially
from those projected and undue reliance should not be placed on such information, as unknown
or unpredictable factors could have material adverse effects on future results, performance or
achievements. Among the key factors that could cause actual results to differ materially from
those projected in the forward-looking information are: the Company's expectations in
connection with the projects and exploration programs being met, the impact of general business
and economic conditions, global liquidity and credit availability on the timing of cash flows and
the values of assets and liabilities based on projected future conditions, fluctuating gold prices,
currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations
in material grade or recovery rates, changes in accounting policies, changes in the Company's
mineral reserves and resources, changes in Project parameters as plans continue to be refined,
changes in Project development, construction, production and commissioning time frames, the
possibility of Project cost overruns or unanticipated costs and expenses, higher prices for fuel,
power, labour and other consumables contributing to higher costs and general risks of the mining
industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes
in mine life, seasonality and weather, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and
limitations on insurance.
This information contained in this news release is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by the Company, including the
Company’s financial statements and related MD&A for the year ended July 31, 2025, and the
interim financial report and related MD&A for the periods ended October 31, 2025, January 31,
2026 and April 30, 2026, filed with the securities regulatory authorities in certain provinces of
Canada and available at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying
the forward-looking information prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected. Although the
Company has attempted to identify important risks, uncertainties and factors which could cause
actual results to differ materially, there may be others that cause results not to be as anticipated,
estimated or intended. The Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise required by applicable law.
Contacts
Michael Michaud
President and CEO
(416) 364-7024
Manish Grigo
Director of Corporate Development
(416) 569-3292
Salisha Ilyas
Investor Relations
(647) 209-9200