Pirate Gold drills step-out results at Moby Dick copper-gold, Treasure Island

Moby Dick is a grassroots copper-gold porphyry/high-sulphidation epithermal discovery announced on June 18, 2026 Initial drill results include 0.38% Cu eq over 112.4m including 0.72% Cu eq over 45.0m in PGC-26-058 and 0.54% Cu eq over 180.8m including 1.48% Cu eq over 49.4m in PGC-26-068 Broad zones of visible chalcopyrite mineralization continue to be found within PGC-26-118 and PGC-26-120 located 100m west of and 1700m east of PGC-26-068 respectively Moby Dick Alteration Zone is an advanced argillic alteration zone interpreted to be associated with a copper-gold porphyry or high-sulphidation epithermal system. Crippleback covers a 32 km by 8 km area with potential for additional copper-gold porphyry and epithermal targets Lack of historical exploration for this style of mineralization presents opportunity for additional discoveries throughout Crippleback Episode 14 of Pirate Gold Treasure Hunters now airing : https://youtu.be/0wQCOExTH7I St. John's, Newfoundland and Labrador--(Newsfile Corp. - June 25, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) ("Pirate Gold" or the "Company") is pleased to announce visual observations from step-out drilling at the Moby Dick copper-gold discovery, part of the Crippleback area at its Treasure Island Project in Central Newfoundland. The Treasure Island project in Central Newfoundland covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district.

Moby Dick: The Neo-Proterozoic Crippleback Intrusive Suite covers over 200 square kilometers in the southern portion of the Treasure Island Project. The Moby Dick advanced argillic alteration zone has been confirmed by drilling to measure 3100m long, 850m in width and to depth of 500m. The full extent of the alteration zone remains unknown and is currently constrained only by drilling completed to date.

Results from the first three drill holes to test Moby Dick have shown broad intervals of copper and gold mineralization consistent with a copper porphyry-high sulphidation epithermal style mineralizing system yielding initial drilling highlights of 0.38% Cu eq over 112.4m including 0.72% Cu eq over 45.0m in PGC-26-058 and 0.54% Cu eq over 180.8m including 1.48% Cu eq over 49.4m in PGC-26-068 (see June 18, 2026 release here ). Two drill rigs are active at Moby Dick with visual results of the initial step out holes described below: PGC-26-118 is a step-out from 100m west of and parallel to PGC-26-068 and encountered clay altered intermediate volcanic rock from 14m to 251m with dominant clay species of kaolinite and montmorillonite. From 251m to 327m depth encountered variably clay altered quartz monzonite with localized intervals of intermediate volcanics, locally montmorillonite was the primary clay species.

From 327m to 614m the hole intersected intermediate volcanics with montmorillonite clay alteration present to 342m. Pyrite alteration is present throughout the entire hole from 13m to 671m depth as fine disseminations or semi massive stringers; chalcopyrite mineralization was observed in the hole according to the following intervals listed in Table 1. PGC-26-120 is a step-out 1700m east of PGC-26-068 and intersected intercalated intermediate volcanic and quartz monzonite rock from 17.8m to 614.0m depth.