ESGold expands Montauban footprint through claim acquisitions

ESGold Expands Montauban Footprint Through Strategic Claim Acquisitions

44 additional claims totaling 2,448 hectares under binding acquisition agreements as ESGold strengthens its district-scale position in Montauban, Québec

VANCOUVER, BC / ACCESS Newswire / May 5, 2026 / ESGold Corp. ("ESGold" or the "Company") is pleased to announce that it has entered into binding purchase agreements to acquire an additional 44 mineral claims totaling approximately 2,448 hectares in the Montauban region of Québec. These acquisitions expand the Company's contiguous land position surrounding its Montauban Gold-Silver Project and provide additional exploration potential along a prospective mineralized trend. The Company has agreed to acquire a 100% interest in the claims for total consideration of $70,000 in cash and 600,000 common shares at a deemed price of $0.50 per common share, with a deemed value of $300,000. Closing of the claims is expected to occur within the next 30 days, subject to customary conditions including due diligence, transfer of title, and regulatory and exchange approvals where applicable.

Strategic Expansion in a Prospective Geological Corridor

The newly acquired claims cover areas with historically documented polymetallic mineralization, including zones in the vicinity of Lac Viking, Lac Lanctôt, and Lac Charlie. Historical work conducted by various operators, including SOQUEM, reported the presence of semi-massive sulphide mineralization hosted in gneissic and metasedimentary rocks

Reported historical drill and sampling highlights include:

• 1.65 g/t Au over 7.27 m, including 3.42 g/t Au over 2.68 m (hole 93-24)

• 5.48% Zn, 0.36% Cu, 0.35 g/t Au, and 6.8 g/t Ag over 3.15 m (hole 097-91-19)

• 1.67 g/t Au over 1.47 m (hole TR-15-01)

• 3,447 ppm Cu and 2,615 ppm Cu over 1 m in channel samples

These results are indicative of a polymetallic mineral system; however, they are historical in nature and have not been independently verified by the Company.

Based on compilation of available data, mineralization is interpreted to occur within a structurally controlled corridor that may extend over several kilometers. This interpretation remains conceptual and requires confirmation through systematic modern exploration.

Geological Context and Exploration Model

The Montauban district is characterized by a polymetallic mineral system interpreted as a metamorphosed and structurally modified volcanogenic massive sulphide (VMS) environment, with gold enrichment and remobilization along deformation zones.

Mineralization typically occurs as sulphide lenses and disseminations within deformed stratigraphy and may be structurally thickened or repeated. Exploration targeting is therefore focused on identifying:

• Structural controls on mineralization

• Continuity of sulphide lenses along strike and at depth

• Potential extensions beyond historically mined zones

The Company is currently integrating geological, geochemical, and geophysical datasets, including Ambient Noise Tomography (ANT), to develop a 3D geological interpretation of the district. These interpretations are conceptual in nature and are intended to guide future exploration drilling. No mineral resources or reserves have been defined.

Ongoing Exploration and Target Development

The Company's ongoing exploration program includes a district-scale ANT survey and integrated 3D modeling initiative covering approximately 70 km². The objective of this work is to improve understanding of subsurface structural features and geological architecture.

Preliminary interpretations from this work suggest the potential presence of structural features that may be associated with mineralization at depth and along strike; however, these interpretations have not been validated by drilling and should not be considered evidence of mineral continuity or economic potential.

The expanded land position provides ESGold with increased flexibility to evaluate and prioritize exploration targets as new data is incorporated.

CEO Commentary

"These acquisitions reflect our disciplined approach to building a district-scale exploration opportunity at Montauban," said Gordon Robb, Chief Executive Officer of ESGold. "As our geological understanding evolves through ongoing data integration and interpretation, securing additional prospective ground positions us to systematically evaluate targets and advance exploration in a structured manner."

Qualified Person Statement

The scientific and technical information contained in this news release has been reviewed and approved by André Gauthier, P.Geo., a Director of ESGold Corp. and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Mr. Gauthier has reviewed the available geological information relating to the claims acquired and considers it relevant for exploration purposes.

Historical Data Disclosure

The historical results disclosed in this news release are derived from reports prepared by previous operators. The Company has not independently verified this information. While the Company considers these data to be relevant as an indication of the exploration potential of the property, the reliability of the data cannot be confirmed.

The historical results do not comply with current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and should not be relied upon as mineral resource or reserve estimates. Additional work, including verification sampling, drilling, and modern analytical procedures, will be required to confirm and validate these results.

Equity Incentive Grants

The Company also announces that pursuant to its Omnibus Incentive Plan (the "Plan"), the Company has granted an aggregate of 2,575,000 stock options and 500,000 restricted share units ("RSUs') to certain employees, officers, directors, and consultants ("Stock Options"). Each Stock Option vests immediately and is exercisable into one common share of the Company at a price of [$0.505] per common share and 1,275,000 Stock Options expire three years from the date of grant and 1,300,000 Stock Options expire five years from the date of grant. The RSUs vest immediately and are governed by the terms of the Plan. The Stock Options and RSU's are subject to approval by the Canadian Securities Exchange.

About ESGold Corp.

ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a fully permitted, fully funded, pre-production mining company advancing a scalable clean mining model across North and South America. The Company's flagship Montauban Gold-Silver Project in Quebec is under construction with production anticipated in 2026. With a dual-track strategy of cash flow today and discovery tomorrow, ESGold is building a platform for clean, sustainable growth and long-term shareholder value.

For more information, please contact ESGold Corp. at +1-888-370-1059 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.

Stay connected by following us on X (formerly Twitter), LinkedIn, and joining our Telegram channel.

For further information please contact ir@esgold.com or 604-885-1348, or to connect directly, please reach out to Gordon Robb, CEO of ESGold Corp. at gordon@esgold.com or 250-217-2321.

On behalf of the Board of Directors
ESGold Corp.
Gordon Robb
Chief Executive Officer & Director
info@esgold.com
+1-888-370-1059

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding metallurgical recoveries, project economics, construction timelines, and exploration potential. Forward-looking information is based on reasonable assumptions believed to be current but involves known and unknown risks and uncertainties that may cause actual results to differ materially. Historical data referenced herein is not current, has not been independently verified by ESGold, and should not be relied upon for investment decisions. ESGold disclaims any obligation to update or revise forward-looking information except as required by law.

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: the ANT-based 3D geological model, its results and interpretation of the same, the newly staked land of the Company and the possibility for mineralization therein, conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's continuous disclosure documents filed on SEDAR+ at www.sedarplus.com.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

SOURCE: ESGold Corp

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