Upside GOLD Corp. Delivers First Exploration Update FOR the Kena GOLD- Copper Property
UPSIDE GOLD CORP. DELIVERS FIRST EXPLORATION UPDATE FOR THE KENA GOLD-
COPPER PROPERTY
HIGHLIGHTS
Multiple high-grade Au-Ag-Cu showings confirmed beyond existing historic
resource boundaries
Surface sampling returned values up to 26.1 g/t Au, 179 g/t Ag, and 1.68% Cu,
supporting a large, multi-zone mineralized system.
22 priority diamond drill targets identified
Drill-ready targets defined both inside and outside the historic Kena gold body,
including several areas with minimal or no prior drilling.
Strong expansion potential along and across strike, and at depth
Results confirm gold and copper mineralization extends east and south of the
resource, aligned with major structures and coincident geochemical and
geophysical anomalies.
CALGARY, ALBERTA – February 3, 2026 – Upside Gold Corp. (CSE : UG) (FSE:47I) ("Upside
Gold" or the "Company") is pleased to provide a preliminary exploration update for its 10,115
hectares Kena Gold-Copper Property (“Kena” or “Property”) in southeastern British
Columbia, including results from the Company’s initial surface rock geochemical sampling
program completed in July 2025.
“This initial field program represents an important step in advancing our understanding of
the Kena Gold-Copper Property,” said Sophy Cesar, CEO of Upside Gold Corp. “The results
support our exploration model and help define priority targets for follow-up diamond drilling
beyond the existing lode gold bearing body.”
The surface exploration program was undertaken as a field review in follow-up to the
optioning of the Property in early 2025, in parallel with the Company‘s ongoing geological,
geochemical and geophysical compilation of the Property’s analog and digital exploration
database which extends back to the mid-1970s.
During the field program, the exploration work focused on visiting and rock sampling known
historic showings, and completing new geological traverses, and surface sampling of road-
cuts from recently constructed logging roads crossing the Property. In addition, surface
outcrop and historic trench exposures within the main lode gold body which make up the
Kena Gold historic resource* were further reviewed and evaluated on-site. The Property gold
mineralization is predominantly controlled by a northwestern trending major fault zone
named Kena Deformation Zone situated within and between the Silver King Porphyry
intrusive and Elsie Volcanic rocks and which is characterized as a strong low magnetic
intensity signature as shown on the included maps.
2 | P a g e
3 | P a g e
* Historic gold resource; An original technical report titled “NI 43-101 RESOURCE
ESTIMATE FOR THE KENA AND DAYLIGHT PROPERTIES” by Sue Bird, Moose Mountain
Technical Services was issued on May 3, 2021 and filed on SEDAR on behalf of West
Mining Corp. reporting an Indicated Mineral Resource of 32,146,000 tonnes at an
average grade of 0.544 g/t Au for 0.561 million ozs and an Inferred Mineral Resource of
177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ozs. The Qualified
Person for Upside Gold has not done sufficient work to classify this now historical
estimate as current mineral resources and the Company is not treating the historical
estimate as current mineral resources. The estimate is relevant to this news release as
it was completed on the Property. The Qualified Person emphasizes that the estimate is
4 | P a g e
provided for information only and should not be relied upon. The historical estimate
uses the categories set out in section 1.2 of the NI-43-101. The parameters used are
outlined in Sue Bird’s 2021 report. To upgrade the historical estimate as current mineral
resource, additional drilling will have to be completed.
Based on these evaluations, 22 proposed priority diamond drillhole collar sites were
identified in the field for follow-up testing both within and outside the gold body. In total, 141
rock geochemical samples were collected for gold and multi-element analyses during the
program.
2025 Program Results
The results of the July field program identified and confirmed the presence of multiple high-
grade prospective areas and historic showings, both within and outside the main Kena lode
gold body, supporting the definition of follow-up diamond drilling targets. The most
significant assay results from this program are reported in the table, discussed below and
shown on the maps.
5 | P a g e
Three areas visited on the Property, beyond the boundaries of the Kena lode gold body, are
considered particularly exciting to the Company for follow-up exploration with diamond drill
testing.
The Lower and Upper Euphrates Au-Ag showings, which report historic production of
307 tonnes at 46.9 g/t Au and 249 g/t Ag, have recently become accessible following
the construction of new logging roads in the area. The workings are located in the
southern half of the Property, trend regionally along-strike eight kilometres to the
north to the Kena lode gold body, and are hosted within similar favorable geological,
geochemical and geophysical signatures including an identified coincident magnetic
low feature which can be traced for 10 kms. The average analytical results from the
nine grab samples collected on-site reported 8.61 g/t Au and 31.6 g/t Ag, ranging from
0.022 g/t Au and <0.5 Ag up to 26.1 g/t Au and 179 g/t Ag. There has been no known
drilling in the area.
Name and Location Sample #s
Sample Type /
Size
Au (g/t) Ag (g/t) Cu (ppm)
Shaft Au-Cu showing
bounding east of Kena Au
historic resource
4339312 grab 0.65 0.7 322
Shaft Au-Cu showing
bounding east of Kena Au
historic resource
4339320 grab 5.41 4.4 10,500
Cat Au-Cu showing
bounding east of Kena Au
4339360 grab 1.12 3.4 6,530
Kena Copper Zone area
south and directly along
strike with Kena Au
4339315 grab 1.31 1.2 352
Kena Copper Zone area
south and directly along
strike with Kena Au
4339364 grab 0.91 1.0 216
Euphrates showing south
and along strike of Kena
Au
4339375 grab 25.9 86.5 1,480
Euphrates showing south
and along strike of Kena
Au
4339375 grab 26.1 8.7 297
Euphrates showing south
and along strike of Kena
Au
4339376 grab 4.15 6.9 121
Euphrates showing south
and along strike of Kena
Au
4339317 grab 3.34 179 920
Euphrates showing south
and along strike of Kena
Au
43393918 grab 17.5 3 45
South Gold Zone south
and along strike with
Kena Au
4339314 grab 0.71 1.6 525
Princess Showing east of
Kena Au
4339309 grab 1.47 18 16,800
Princess Showing east of
Kena Au
4339310 grab 5.41 0.9 61
6 | P a g e
The Cat, Shaft, Dighem, and Princess Cu-Au-Ag showings are adjacent and aligned
along the east side of the Kena Gold lode gold body over a strike length of 1,200
metres and are associated with a strong two-pronged IP chargeability anomaly with
areal dimensions of 1.8 by 0.6 kilometres with coincident copper soil anomalies.
Rock samples collected from the showings returned analyses of up to 1.68% Cu, 5.41
g/t Au and 18 g/t Ag, supporting historic reports of multiple high-grade occurrences
of copper and precious metals. Historically, only five reconnaissance drill holes have
been completed across the entire area.
The Kena Copper Zone and adjoining South Gold Zone trends along strike for three
kilometres southeast from the Kena Gold lode gold body, covering extensions of
similar geology associated with a strong IP chargeability anomaly and a broad area of
coincident copper and gold soil geochemical anomalies. Historic drilling reports
multiple wide intersections of good copper and gold values starting at or near surface,
of up to 117 metres of 0.22% Cu and 0.14g/t Au, 88.69 metres of 0.13% Cu and 0.21
g/t Au, 210 metres of 0.17% Cu and 0.13 g/t Au, 106 metres of 0.15% Cu, 0.18 g/t Au
in the Kena Copper Zone as well as 90 metres of 0.9 g/t Au and 115 metres of 0.67 g/t
Au and 0.05% Cu in the South Gold Zone. Multiple surface rock samples of up to 1.31
g/t Au collected during this program support the potential for these zones to host
significant volumes of copper and gold mineralized material.
QA/QC
The collected rock samples were shipped by bonded carrier and submitted to ALS Canada
Ltd laboratory in Kamloops and North Vancouver, B.C. ALS Canada Ltd. is an independent
accredited testing laboratory having been assessed by the Standards Council of Canada
(SCC) and found to conform to the requirements of ISO/IEC 17025:2017 for listed services.
The Qualified Person inserted blind Au, Ag and Cu accredited analytical standards and quartz
blanks with the submitted batch.
Rock samples analyses included gold and 34 multi-element inductively coupled plasma -
atomic emission spectroscopy (ICP-AES) analysis by four acid digestion (Au-ICP21, ME-
ICP61), following sample weighing, log in, and crushing with screening to -75 microns. ALS
completed a standard package of internal laboratory QA/QC, including standards, blanks
and duplicates.
Summary
The results of the field program support the Company’s belief, based upon compilation and
due diligence work, in the existence of a major gold-copper mineralized system on the Kena
Gold-Copper Property that extends beyond the boundaries of the currently defined lode gold
body which remains open both laterally, along strike and at depth. In particular, favourable
geological, geochemical and geophysical signatures immediately to the east and south
7 | P a g e
support the presence of major Cu-Au porphyry bodies that warrant detailed diamond drilling,
with potential to add substantial volumes of mineralized material in the Property.
In addition, the work supports the belief that this precious metal and copper mineralized
system extends well into the southern half of the Property, an area that has not previously
undergone diamond drilling or detailed exploration. This system also appears to be repeated
by deformation towards the western side of the Property.
The Kootenay region of south-eastern British Columbia has historically been largely
overlooked for gold and copper exploration, and as such, offers opportunities for both new
discoveries and for the development of known historic prospects into potentially viable
resource bodies.
The information in this press release has been reviewed and approved by Trevor Boyd, P.Geo.,
Vice-President, Exploration of the Company and a Qualified Person for the technical
information under NI 43-101 standards.
For more information on Upside Gold Corp., please visit the Company’s website
at www.upsidegoldcorp.com.
On behalf of Upside Gold Corp.
Sophy Cesar
CEO and Director
www.upsidegoldcorp.com
About Upside Gold Corp.
Upside Gold Corp. is a Canadian gold-copper exploration company that has entered into an
option agreement to acquire a 100% interest in the Kena Gold-Copper Project, located in
southeastern British Columbia, approximately 7 kilometres southwest of Nelson. The Kena
Project consists of 198 mineral claims covering 10,114.8 hectares, together with 11 crown
grants covering approximately 92 hectares.
The Company is focused on advancing the Kena Gold-Copper Project through systematic
exploration and drilling programs.
The Kena Project hosts a historical gold resource comprising an Indicated Mineral Resource
of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ounces of gold, and
8 | P a g e
an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for
2.77 million ounces of gold. The historical resource estimate is disclosed in the technical
report entitled “NI 43-101 Resource Estimate for the Kena and Daylight Properties” prepared
by Sue Bird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021, and filed on
SEDAR on behalf of West Mining Corp.
A Qualified Person, as defined by National Instrument 43-101, has not done sufficient work
to classify the historical estimate as current mineral resources, and Upside Gold Corp. is not
treating the historical estimate as current mineral resources. The historical estimate is
provided for information purposes only and should not be relied upon.
Caution Regarding Forward-Looking Information
This news release contains forward-looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the control of Upside Gold.
Forward-looking statements include estimates and statements that describe Upside Gold's
future plans, objectives or goals, including words to the effect that Upside Gold or its
management expects a stated condition or result to occur. Forward-looking statements may
be identified by such terms as "believes", "anticipates", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information
currently available to Upside Gold, Upside Gold provides no assurance that actual results
will meet management's expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance, prospects
and opportunities to differ materially from those expressed or implied by such forward-
looking information. Forward looking information in this news release includes, but is not
limited to, Upside Gold’s objectives, goals or future plans, statements, details of the
exploration results, potential mineralization, Upside Gold’s portfolio, treasury, management
team and enhanced capital markets profile, the estimation of mineral resources and
exploration plans.
Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to, failure to identify mineral resources, delays in
obtaining or failures to obtain required governmental, regulatory, environmental or other
project approvals, political risks, inability to fulfill the duty to accommodate First Nations
and other indigenous peoples, uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of projects, capital and
operating costs varying significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set out in Upside Gold public