ESGold receives exploration authorization from Quebec; advances tailings reprocessing project

ESGold Receives Exploration Authorization From Québec Government and Continues to Advance Its Permitted Tailings Reprocessing Project

Exploration Authorizations Clear the Way for Systematic Drilling of the Company's Historical Crown Pillar and Priority Exploration Targets

VANCOUVER, BC / ACCESS Newswire / July 28, 2026 / ESGold Corp. (CSE:ESAU)(OTCQB:ESAUF)(FSE:Z7D) ("ESGold" or the "Company") is pleased to announce that it has received its Authorization of Impact-Causing Exploration Work ("ATI") from Québec's Ministère des Ressources naturelles et des Forêts for the Company's planned drilling program at its 100%-owned Montauban Gold-Silver Project in Québec ("Montauban Project").

Receipt of the ATI represents a major regulatory milestone for ESGold as the ATI allows the Company to proceed with final field preparations and contractor mobilization for its upcoming exploration program. The exploration program will be carried out concurrently with the continued development of ESGold's fully permitted tailings reprocessing operation, which remains the Company's primary near-term objective.

This initial exploration program will focus on systematically evaluating the historical crown-pillar mineralization and testing priority exploration targets developed through the integration of historical drilling, geological interpretation, Ambient Noise Tomography ("ANT") data and ESGold's evolving three-dimensional geological model.

Exploration Program Highlights

• Tailings reprocessing remains the cornerstone of ESGold's near-term strategy.

• Exploration drilling is complementary and supports long-term growth.

• ESGold has received the ATI required to conduct its planned drilling program at the Montauban Project.

• Final drill-site preparations, access planning and contractor mobilization are now advancing.

• Initial drilling will focus on the historical crown-pillar area and selected priority exploration targets.

• Drill results will be incorporated into ESGold's geological model and used to guide subsequent district-scale exploration.

• ESGold is committed to transparent communication with local communities.

Planned Montauban Drill Program

The first component of the planned drill program will focus on the historical crown-pillar area, where ESGold intends to better define the geometry, continuity, thickness and grade distribution of the near-surface mineralization located within and surrounding the former mine workings.

The crown pillar represents an important target that has not previously been systematically evaluated using modern drilling, geophysics and three-dimensional geological modelling. Results from the program are expected to support an updated geological interpretation and guide future technical and resource evaluation work.

The Company also intends to test selected step-out and exploration targets identified through its ANT surveys, historical drilling and mine records, structural interpretation and integrated geological model.

ESGold's initial ANT survey and subsequent modelling identified an interpreted mineralized corridor extending approximately 900 metres in depth and over at least two kilometres of strike within the original survey area. The interpreted system widened at depth and remained open where it reached the boundaries of the initial survey coverage.

The Company subsequently expanded its ANT survey coverage to approximately 70 square kilometres to investigate the broader geological architecture of the Montauban district and identify additional priority targets.

The planned drilling program will begin the process of directly testing these geological interpretations.

From Interpretation to Physical Proof

Over the past several years, ESGold has consolidated and digitized extensive historical exploration information, completed modern geophysical surveys and developed an integrated geological model that has materially advanced the Company's understanding of the Montauban system.

Receipt of the ATI moves the exploration program from geological interpretation and target development into direct subsurface testing.

Drill core generated during the program will be logged, sampled and submitted to an accredited laboratory for analysis. Results will be incorporated into the Company's geological model and used to refine the location and sequencing of subsequent drill targets.

"This is a major milestone for ESGold and the Montauban Project," said Gordon Robb, Chief Executive Officer of ESGold Corp. "Receiving the ATI removes the principal regulatory dependency standing between the Company and the commencement of our planned exploration drilling.

"We have spent considerable time compiling historical information, completing modern geophysical work and developing an integrated geological model. We are now in a position to begin testing that work with the drill.

"Our initial focus will be the systematic evaluation of the historical crown pillar, together with priority targets generated through the integration of ANT imaging, historical drilling and structural interpretation. This is where geological interpretation begins to become physical proof.

"Exploration drilling will advance alongside construction of our permitted tailings to reprocessing operation. ESGold is now positioned to move both sides of its strategy forward: advancing the Montauban Project toward near-term operations while systematically evaluating the broader district-scale exploration opportunity."

The exploration program complements, rather than changes, ESGold's development strategy. While the Company continues advancing construction and commissioning of its permitted tailings processing operation, the drilling campaign is intended to strengthen the geological understanding of the Montauban district and support future exploration initiatives for the Company.

Next Steps for the Company

With the ATI now received, ESGold is finalizing drill-site preparation, access planning, contractor mobilization and the sequencing of its initial drill targets.

The program is expected to begin with drilling in the historical crown-pillar area, followed by targeted step-out holes designed to evaluate the potential continuation of mineralization along strike and at depth.

The Company's next key exploration milestones will include:

• Mobilization of drilling personnel and equipment;

• Commencement of drilling;

• Completion of the initial crown-pillar holes;

• Core logging, sampling and laboratory analysis; and

• Release and integration of initial assay results.

The location, sequence and scope of individual drill holes may be adjusted based on field conditions, geological observations and results received during the program.

Any potential future extraction of crown-pillar material remains subject to additional drilling, technical evaluation, engineering review, economic analysis and any further regulatory approvals that may be required.

This initial exploration program does not change the Company's development priorities. The objective of this exploration program is to improve geological knowledge while construction and commissioning of the permitted tailings processing project continues.

Advancing Montauban on Two Fronts

This initial exploration program forms a central component of ESGold's dual-track strategy at its Montauban Project.

In parallel with drilling, the Company continues to advance construction, equipment procurement and site development for its permitted tailings reprocessing operation.

The Company's primary objective is to establish a near-term operating platform at Montauban while systematically testing the larger mineralized system surrounding the historical mining camp.

Receipt of the ATI adds a significant new catalyst to that strategy and provides ESGold with the authorization required to begin converting geological targets into drill-tested evidence.

Where feasible, ESGold intends to utilize local contractors, suppliers and service providers during the execution of this initial drill program.

Qualified Person Statement

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

The geological interpretations and exploration targets discussed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource associated with these targets, and it is uncertain whether further exploration will result in any target being delineated as a mineral resource.

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 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.

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For further information on the Company, please contact:

Email: ir@esgold.com or info@esgold.com or gordon@esgold.com

Phone: 604-885-1348 or 1-888-370-1059 or 250-217-2321

On behalf of the Board of Directors of ESGold Corp.

Gordon Robb

Chief Executive Officer & Director

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the metallurgical recoveries, project economics, construction timelines and equipment deliverables, and exploration activities and 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 construction timelines and exploration activities at the Montauban Project, the ANT-based 3D geological model, its results and interpretation of the same, 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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