BULGOLD Samples 21.2g/t Gold at Surface and Expands Kopernica Footprint by 170% to 1,700 Metres by 800 Metres, Lutila Project

Toronto, ON. October 7 2026 – BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce the surface exploration and geochemical sampling results from the 2026 mapping and prospecting programme at the Kopernica Vein System, located within the Lutila Gold Project, Slovak Republic.

Building directly upon the recently announced 2026 diamond drilling campaign – which confirmed a major epithermal gold system – concurrent surface mapping and rock chip sampling have expanded the known footprint of the Kopernica Vein System by 170% to 1,700m by 800m. Importantly, a surface float boulder sample graded 21.2g/t gold (Au), strongly reinforcing both the predictive geological framework and the vertical potential of the system.

1. Highlights

• High-Grade Hydrothermal Breccia Discovery: Rock chip sampling of a surface float boulder returned 21.2g/t Au. Geologically, the boulder comprises various distinct quartz vein fragments set within a polymict quartz vein matrix with fine-grained pyrite. This intense multi-stage fragmentation is strongly indicative of high-level hydrothermal breccias within a mineralised vein structure that has undergone episodic brecciation over time - a key structural characteristic of productive low-sulfidation epithermal systems.
• Geological Model Validated: The high-grade 21.2g/t Au breccia boulder sits 200m south-southeast of drill hole KPDD005 along trend and 50m lower in relative elevation. This spatial alignment matches the Company's 3D geological and predictive modeling, indicating that the intense to strong alteration mapped on the eastern margin of current drilling tracks directly toward high-grade mineralisation at surface.
• Parallel Targets Identified: Systematic mapping within the active 2026 drilling area has successfully identified additional parallel quartz vein structures associated with subcropping quartz vein material and rare outcropping hydrothermal breccia. This find supports the Company’s view that the newly defined, 500m-wide epithermal gold system may host multiple quartz vein structures.
• 170% System Footprint Expansion: Systematic geological mapping and prospecting by the Company has extended the primary Kopernica structural corridor from its previous 1,000m by 500m dimensions to a 1,700m by 800m wide footprint.
• New Northern Target Identified: The exploration team has discovered a new mineralised area located 1,200m north of KPDD005. The area is characterised by low-temperature quartz vein float boulders with highly elevated arsenic (As) and antimony (Sb) pathfinder signatures that crosscut strongly silicified and brecciated rhyolite rock. Of particular significance is the occurrence of these vein pieces in proximity to a pre-mineral rhyolite intrusive body that is associated with historic mercury (Hg) mining at higher elevations.
• Project Location and Logistics: The Lutila Gold Project provides early-stage exploration potential within an established European Union mining district. The site features existing local infrastructure, year-round road access, and a standardized regulatory framework, which reduces initial development requirements and estimated operational costs.
• Situated Within a Well-Established Historic Trend: The Lutila Gold Project sits squarely between Central Slovakia's premier precious metal hubs: the Kremnica and Banská Štiavnica epithermal vein fields. These adjacent districts boast a 1,000-year mining legacy, providing a strong geological validation that the Lutila volcanic corridor is deeply rooted in a highly productive, gold-bearing regional framework.
• View the Complete 2026 Kopernica Rock Sample Atlas Here
• Exploration target: underground, high-grade gold (Au) ± silver (Ag) quartz veins.

Quote from Mr. Richard Tosdal, Member BULGOLD Technical Advisory Board:

“The 21.2g/t gold-grade vein material in a surface float sample suggests upside to the Kopernica epithermal vein system.”

Quote from the President & CEO, Mr. Sean Hasson:

“Expanding the Kopernica Vein System's footprint by 170% to 1,700 by 800 metres is a significant milestone in our exploration of this low-sulfidation epithermal gold system. While recent drilling mapped a broad, 500-metre-wide upflow footprint, the discovery of a float boulder grading 21.2g/t gold down-topography from KPDD005 demonstrates that the Kopernica system is fully capable of generating high-grade gold values within epithermal quartz veins and their associated hydrothermal breccias. The location of this high-grade sample validates our alteration and geochemical vectoring framework, giving us tremendous confidence as we refine our targets and mitigate exploration risk.

Additionally, our exploration team has identified multiple new parallel quartz vein structures within the active drilling footprint, backed by subcropping quartz-vein boulders and outcropping hydrothermal breccia. This confirms a highly prospective multi-vein architecture across the corridor, which is currently bookended by the pervasive alteration intersected in drill holes KPDD004 and KPDD005.

Of equal exploration significance is the discovery of a new mineralised zone 1,200 metres north of KPDD005. The combination of low-temperature quartz veins cross-cutting strongly silicified, brecciated rhyolite with an elevated arsenic-antimony pathfinder signature points to a well-preserved upper epithermal level. This new zone appears to be localised along the margins of a prominent, pre-mineral quartz-amphibole porphyry intrusive body that hosted historic mercury mining at higher elevations. In low-sulfidation systems, mercury, arsenic and antimony sit directly above the vertical gold window. Identifying this pathfinder suite at surface, associated with the margins of a pre- mineral intrusive body, opens up a high-priority exploration front for additional epithermal quartz vein targets.”

2. The Kopernica Vein System – Surface Exploration & Expansion

Concurrent with the completion of the 2026 diamond drilling programme, BULGOLD’s technical team executed a systematic surface mapping and geochemical sampling campaign across the Kopernica Vein System. This work aimed to further refine targets within the active drilling footprint while expanding the limits of the known vein system to the north and south, building directly upon structural trends established during the late 2025 exploration programme.

This systematic campaign has significantly upgraded the scale of the project, expanding the mapped footprint of the Kopernica Vein System from its previous 1,000m by 500m dimensions to a continuous corridor measuring 1,700m in length and up to 800m in width.

Surface Sampling & Model Validation

Systematic mapping along the southern extension of the mineralised trend tested by drill hole KPDD005 identified a high-grade surface float boulder sample returning 21.2g/t Au. Geologically, the boulder is a highly diagnostic hydrothermal breccia composed of various distinct quartz vein fragments set within a polymict quartz vein matrix containing fine-grained pyrite.

The sample is located 200m south-southeast of KPDD005, sitting approximately 50m lower in relative elevation than the 60m-wide, intensely silicified and brecciated, adularia-bearing Quartz-Sericite-Pyrite alteration zone intersected in the drill hole.

In total, 10 rock chip samples of varying intensities of hydrothermal breccia float were collected along this 200m structural trend. Beyond the high-grade discovery, the suite returned anomalous silver and epithermal pathfinder chemistry, averaging:

• Silver (Ag): 1.4 g/t
• Arsenic (As): 742 ppm
• Antimony (Sb): 109 ppm
• Thallium (Tl): 1.4ppm

This structural and topographic alignment provides spatial validation of the Company’s 3D geological model. It demonstrates that the intense silicification and adularia-bearing alteration found in KPDD005 vectors directly towards high-grade mineralisation at surface at lower elevations.

Figure 1 (below) shows slabbed examples of the high-grade 21.2g/t Au hydrothermal breccia.

Identification of Parallel Mineralised Trends

Detailed surface mapping within the active 2026 drilling area has successfully identified additional parallel quartz vein structures associated with either, outcropping hydrothermal breccia, subcropping quartz vein material or float trains of primarily hydrothermal breccia. This spatial clustering provides physical evidence supporting the Company's view that the 500-metre-wide epithermal gold system comprises a wide, multi-stranded corridor of parallel mineralised structures rather than an isolated singular vein-structure.

• Central Vein Structure: Positioned between the West and KPDD005 structures - which feature strike lengths of 500m and 650m respectively - the Central Vein has been traced at surface over an approximate 500m interval. The trend is defined by rare subcropping quartz vein boulders, low-grade gold within hydrothermal breccias, elevated As-Sb geochemical pathfinder signatures, and localised lattice-bladed quartz replacement textures. To date, this high-priority structure has not been drill tested. An initial suite of seven rock chip samples collected from the subcropping boulder field confirmed highly anomalous gold and elevated epithermal pathfinder signatures, averaging 0.17g/t Au, 1,045ppm As and 181ppm Sb.
• Northwest Vein Structure: Located 450m northwest of the West vein structure and traced over a strike length of approximately 650m. The trend is defined at its southern extent by historic, small-scale open-pit workings (age unknown). Further north, the structure outcrops within a stream bed as an exposed hydrothermal breccia where the BULGOLD exploration team successfully mapped a general north-south structural orientation. The vein structure terminates near the regional andesite-rhyolite contact, where it transitions into a low-temperature clay-pyrite alteration zone within the host rhyolite. Initial discovery sampling of the stream outcrop returned two rock chip samples averaging: 0.28g/t Au, 35ppm As,

150ppm Sb.

Figure 2 (below) shows the current extent of the Kopernica Vein System following the completion of the 2026 exploration programme.

Figure 1. Slabbed rock sample 95961 (528mRL) displaying a diagnostic hydrothermal breccia texture. The sample shows distinct quartz vein fragments - ranging from low-temperature chalcedonic quartz to higher-temperature vein quartz - set within a polymict quartz vein, pyrite-rich matrix (where unoxidised). This brecciated epithermal assemblage returned assays of 21.2g/t Au, 9.6g/t Ag, 294ppm As, 13ppm Sb and 0.42ppm Tl.

Figure 2. Plan map showing the expanded 1,700m by 800m structural footprint of the Kopernica Vein System. The map highlights key geological and geochemical features discussed in this release, including the spatial alignment of the high-grade 21.2g/t Au surface boulder relative to drill hole KPDD005, the newly identified Central and Northwest parallel vein trends and the high-elevation mercury workings outlining the pre-mineral QAP dyke at the Northern Target. Refer to Table 1 for detailed descriptions of the individual mapping points.

New Northern Target (Upper Sandhübel Valley): Systematic mapping and prospecting have defined a new target area located 1,200m north of drill hole KPDD005.

The target is defined by a south-southwest trending, pre-mineral quartz-amphibole porphyry (QAP) intrusive dyke hosted within the main rhyolite package. The QAP represents the most competent (hardest) rock unit identified on the property to date. Crucially, the QAP is cross-cut by low-temperature chalcedonic quartz veins and features localized, intense brecciation with a rock flour matrix. The presence of clasts displaying truncated chalcedonic quartz veinlets establishes the QAP as a pre-mineral intrusive body. At surface, it forms an approximately 150m wide by 500m long boulder train that outcrops at higher elevations (700m to 740m RL), directly hosting historic, shallow mercury (Hg) workings. This structural relationship suggests the rigid margins of the QAP dyke acted as a focal point for hydrothermal upflow zones.

At lower elevations (~600m RL), within the QAP float train, the Company mapped and sampled multi-stage hydrothermal breccias, strongly silicified and brecciated rhyolite rock and low-temperature chalcedonic quartz veins displaying diagnostic weak colloform and cockade textures. The Company has established that gold mineralisation within the North East Block is vertically constrained and not present at elevations above 600m RL. Consequently, these shallow surface samples reflect the current high-level erosion surface and do not carry gold. However, an initial suite of 12 rock chip samples collected between the 590m and 640m RL returned highly elevated volatile pathfinder geochemistry averaging: 246ppm As, 242ppm Sb, 0.86ppm Tl, 0.16ppm Ag.

This pronounced As-Sb geochemical signature, paired with high-elevation historic mercury mining on the QAP margins and diagnostic epithermal textures, is consistent with the preserved upper levels of a classic lowsulfidation epithermal system. It provides strong evidence that the primary gold-bearing quartz vein targets remain completely intact at depth along the margins or within the rigid QAP intrusive block.

Figure 3 (below) shows an epithermal quartz vein cross-cutting a strongly silicified and brecciated rhyolite rock from the New Northern Target Area.

To view examples of the QAP and other sampled rocks, see: 2026 Kopernica Rock Chip Atlas

Table 1. Detailed field description of the BULGOLD mapping and prospecting framework covering the western slopes of the North East Block and the Kopernica Vein System.

Figure 3. Slabbed surface rock specimen (Sample 95979, 613m RL) displaying a crustiform-colloform banded chalcedonic quartz vein cross-cutting strongly brecciated and silicified rhyolite. This texture records episodic deformation events within the upper level of the epithermal system. This brecciated quartz assemblage returned elevated pathfinder values of 158ppm As, 156ppm Sb and 0.74ppm Tl (with gold and silver below detection limits).

3. Discussion

The Lutila Gold Project is located favourably between two of the largest Au-Ag epithermal vein systems within the Central Slovak Volcanic Field, the Kremnica gold deposit and the Banska Štiavnica gold-silver ore field, which collectively, have produced significant amounts of precious metals over many centuries.

The Property is located 5km south, along strike and within the same volcanic depression that hosts the historic quartz-adularia Kremnica gold mine (current JORC (2012) mineral resource estimate of M&I: 36.9Mt @ 1.36g/t

Au (1.6Moz Au) and Inf: 31.5Mt @ 1.07g/t Au (1.1Moz Au))¹

Historic gold production is estimated by Finka (1995) to be 1.48Moz.

1 This is not a mineral reserve or mineral resource that has been prepared in compliance with the requirements of National Instrument 43-101. The technical and scientific information disclosed from neighbouring properties does not necessarily apply to the Lutila Gold Project. The current JORC (2012) mineral resource estimate for the Kremnica gold mine consists of:

Measured 24.6Mt @ 1.46g/t Au, Indicated 12.3Mt @ 1.15g/t Au and Inferred 31.5Mt @ 1.07g/t Au. Source: Metals Tech Limited, ASX Release, 8th May 2023 (https://wcsecure.weblink.com.au/pdf/MTC/02663482.pdf).

The Kremnica Vein II system which is located in the hanging wall position to the Kremnica gold deposit (and under the town of Kremnica) has similar dimensions to the currently defined Kopernica Vein System, being approximately 1,000 metres by 500 metres and consisted of more than 40 individual veins which were generally north-south striking and dipping to both the east and west. The highest gold values were recorded from within ore shoots and according to Bakoš et al (2017) from 1938 until mine closure in 1970, 18t @ 2.5% Au was mined. The vein system was discovered serendipitously during underground development and mining started at the end of the 18^th century.

According to Kodera (2005) the Banska Štiavnica ore field has produced 2.6Moz Au and 129Moz Ag from the early middle ages until the twentieth century.

The fact that low to intermediate sulfidation Au-Ag epithermal vein systems are intimately associated with rhyolite volcanism during the period 12.4 – 11.2 Ma underpins the Company’s exploration model (See Figures 4, 5, 6 & 7). The surface exploration, mapping and prospecting results at the Kopernica Vein System deliver three critical breakthroughs for BULGOLD:

• Proven Grade to Match System Scale: The discovery of the 21.2g/t Au hydrothermal breccia boulder proves that the large upflow system defined in the recent drilling campaign is fully capable of generating high-grade gold values.
• A Highly Predictive Exploration Model: The structural and elevation alignment between the intense alteration in drill hole KPDD005 and the high-grade surface sample 200m away validates the Company's 3D alteration vectoring model, significantly lowering future targeting risk.
• Substantial Multi-Vein Growth Potential: Expanding the structural footprint by 170% to 1,700m by 800m, identifying two new untested parallel vein structures and discovering the barren but highly anomalous pathfinder horizon at the New Northern Target demonstrates that the Kopernica Vein System is an intact, large-scale epithermal field with multiple well-preserved targets remaining completely open at depth and along strike.

Figure 4. Regional geological setting of the Lutila Gold Project in relation to adjacent ore districts within the Central Slovak Volcanic Field (after Kodera et al, 2014).

4. About the Slovak Republic

• Drill pads can be permitted within 3-months.
• EU and NATO member since 2004.

Eurozone (€) member since 2009.

•

• Established mining industry, clearly defined mining legislation.
• No restrictions on foreign ownership.
• 21% corporate tax rate.
• 5% NSR for gold and silver.
• The use of cyanide for extractive purposes has been prohibited since 2014.
• Low-cost profiles, skilled local workforce.
• Exploration licences can be held for a 10-year period (4+4+2).

Figure 5. The Lutila Exploration Licence – Geology & Antimony (Sb) Soil Geochemistry.

Figure 6. The Lutila Exploration Licence – Geology & Arsenic (As) Soil Geochemistry.

Figure 7. Lutila Gold Project – Geology.