Upside Gold drills Kena gold-copper project; extends Mines Act permit

  HIGHLIGHTS   Drilling at the Kena Gold-Copper Project will target expansion of the historical 3.3-million-ounce gold resource and tests new high-priority exploration targets.   Kena Exploration Permit has been extended until October 31, 2026, to support ongoing diamond drilling activities.   Backed by a recently completed $5.1 million brokered financing, the fully funded 2026 drill program marks the Company's next major catalyst as it advances the Kena Gold-Copper Project.     CALGARY, Alberta – TheNewswire - July 15, 2026   – Upside Gold Corp. (“ Upside ” or the “ Company ”) (CSE: UG) (FSE: 47I) (OTCQB: UGODF) is pleased to announce, that its 2026 drill program at the Kena Gold-Copper Project ("Kena" or the "Property") in southeastern British Columbia has commenced, with crews and equipment mobilized and actively diamond drilling on site. The Company has also received an amendment to Mines Act Permit MX-100000131, extending the current permit term to October 31, 2026. The amendment provides continued authorization for the Company’s ongoing exploration activities and supports execution of the 2026 drill program into the fall.

The fully funded program will focus on priority targets identified through the Company's technical review, which integrated historical drilling and geological, geochemical and geophysical data into a refined exploration model. The program is designed to evaluate extensions of known resource, test new target areas, and support future mineralized zone growth. Initial drilling is focused on testing extensions of known mineralization within and adjacent to the historical gold resource * , where the Company believes there is strong potential to expand its size along strike and at depth. Additional drilling will also evaluate several high-priority regional targets identified through the Company’s recent compilation work.

"Our team has spent the past year building what we believe is one of the strongest technical foundations the Kena Project has ever had" said Sophy Cesar, CEO and Director of Upside Gold. "With drills turning, we are moving from planning to execution. We have strengthened our treasury, expanded the property and refined our geological model.

With the permit extension in place, we are focused on advancing the project through systematic exploration providing shareholders with updates as the program progresses." Click Image To View Full Size The Company expects to provide regular updates throughout the drill program, including significant assay results as they become available. 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. Upside Gold Corp. On behalf of Upside Gold Corp. Sophy Cesar CEO and Director info@upsidegoldcorp.com 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 Corporation 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 originally filed 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 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.   To upgrade the historical estimate as current mineral resource additional drilling needs to be completed. The historical estimate uses the categories set out in section 1.2 of the NI-43-101.

The parameters and assumptions used are outlined in Bird 2021 and are provided as follows:  1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines. 2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 3.

The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: US $2,000/oz. Au at a currency exchange rate of 0.77 US$ per $CDN; 99.95% payable Au; $4.30/oz Au offsite costs (refining, transport and insurance); a 3% NSR royalty; and uses a 88% metallurgical recovery for gold. 4. Pit slope angles are assumed at 45º. 5.

The specific gravity of the deposit has been assigned as 2.8 based on sg measurements in the Kena deposit.   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, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.  Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction on the terms as announced or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfil 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 documents filed on SEDAR. Although Upside Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Upside Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.     Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.   Copyright (c) 2026 TheNewswire - All rights reserved.

TheNewsWire July 15, 2026 - 10:20 AM PDT News by QuoteMedia www.quotemedia.com