Skull Ridge Gold acquires 17,225 hectares at Crippleback-Stony Lake corridor

Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

VANCOUVER, British Columbia, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Skull Ridge Gold Corp. (CSE: SKUL) (“Skull Ridge” or the “Company”) is pleased to announce that it has acquired, through an arm’s-length Newfoundland prospector 689 mineral claims covering approximately 17,225 hectares in Central Newfoundland. The claims were acquired through the reimbursement of staking and related acquisition costs.

“The Crippleback–Stony Lake Project gives Skull Ridge a district-scale position within one of Central Newfoundland’s most active emerging gold-copper exploration corridors,” said Karim Rayani, Executive Chairman and Chief Executive Officer of Skull Ridge. “Our 17,225-hectare property is strategically positioned between Pirate Gold’s Crippleback Project and Benton Resources’ Stoney Caldera land position and covers a substantial portion of the intervening structural corridor.

“The regional opportunity extends well beyond proximity to a single discovery. Recent exploration has identified a much larger geological system containing multiple alteration and geophysical targets. Our objective is to establish whether these prospective structures, intrusive units and alteration systems continue across Skull Ridge’s property and to define new targets of our own.”

The newly acquired Crippleback–Stony Lake Gold Project (the “Project”) establishes a district-scale land position along the interpreted eastward continuation of the Crippleback structural and intrusive corridor.

Project Highlights

• Strategic location: Positioned between Pirate Gold Corp.’s Crippleback Project to the west and Benton Resources Inc.’s Stoney Caldera land position to the east.
• Valentine Lake Fault setting: The Project covers a substantial position along the interpreted extension of one of Central Newfoundland’s principals mineralized structural corridors.
• Large regional system: The broader Crippleback Intrusive Suite is reported to cover more than 200 square kilometres, with regional exploration potential identified across an area approximately 32 kilometres long by eight kilometres wide.
• Eastward-developing trend: Recent regional work has identified additional alteration and geophysical targets east of the initial Crippleback discovery, supporting the potential for multiple mineralizing centres across the broader corridor.

Figure1: Crippleback–Stony Lake Project area, covering 689 claims – 17,225 hectares.

Strategic District-Scale Position

The Crippleback–Stony Lake Gold Project covers a comparatively underexplored portion of the broader Crippleback Trend within the Valentine Lake Fault Zone.

The Project directly adjoins Pirate Gold’s Crippleback Project along its western boundary and Benton Resources’ land position along portions of its eastern and southern boundaries. Skull Ridge’s claims provide extensive coverage across the intervening ground and along the interpreted continuation of the Crippleback Trend toward Stony Lake.

The regional geological setting includes multiphase intrusive rocks, felsic to mafic volcanic units and major fault structures. Historical electromagnetic surveys have identified fault structures cutting through the broader intrusive complex.

Several interpreted regional structures cross Skull Ridge’s claims. Management believes these structures may have acted as pathways for hydrothermal fluids and could represent important controls on mineralization.

The scale of the Project provides Skull Ridge with the opportunity to evaluate a substantial portion of the regional corridor rather than relying on a single exploration target.

Position Along the Valentine Lake Fault Zone

The Project lies within the broader Valentine Lake Fault Zone, one of Central Newfoundland’s principal mineralized structural corridors.

Regional geological information indicates that the Crippleback area contains a large intrusive complex cut by significant fault structures. The Crippleback Intrusive Suite has been described as comprising quartz-monzonite to dioritic intrusive rocks and associated felsic to mafic volcanic units, with multiple copper, molybdenum and gold occurrences identified throughout the broader area.

The Crippleback and Valentine Lake intrusive suites have been reported to share nearly identical geological ages of approximately 564–565 million years and represent two of the largest exposures of Precambrian basement along the Valentine Lake Fault Zone.

Pirate Gold has cited these shared structural and lithological characteristics as supporting a regional comparison between Crippleback and the setting of Equinox Gold Corp.’s Valentine Gold Mine, located along strike to the southwest.

Skull Ridge’s 17,225-hectare Project occupies a substantial position along the interpreted eastward continuation of this structural and intrusive corridor.

The Company’s initial exploration program will seek to determine whether intrusive rocks, fault structures, alteration systems and metal associations identified elsewhere in the district continue across Skull Ridge’s property.

Emerging Crippleback–Stony Lake Gold-Copper Corridor

The broader area is rapidly emerging as a significant gold-copper exploration corridor, supported by recent discoveries, historical exploration and expanding activity on both sides of Skull Ridge’s property.

Recent exploration on Pirate Gold’s adjoining Crippleback Project has identified broad copper-gold mineralization within a large porphyry-epithermal alteration system. Pirate Gold has also reported additional alteration and geophysical targets east of its initial discovery, supporting a district-scale geological model involving potentially multiple mineralizing centres across the broader Crippleback Intrusive Suite.

To the east, Benton Resources has reported multiple gold and copper occurrences at its Stoney Caldera Project. Historical drilling in the broader Stony Lake area has also identified broad zones of gold mineralization within deformed volcanic rocks.

Together, these regional developments provide geological support for the systematic exploration of Skull Ridge’s intervening 17,225-hectare land position.

Based on its preliminary review of available regional geological and publicly available geophysical information, management believes that prospective structures, intrusive units and alteration trends associated with the broader Crippleback–Stony Lake system may continue across the Company’s property.

This geological interpretation has not yet been confirmed through exploration on Skull Ridge’s claims.

Management believes the combination of the Project’s scale, strategic location, regional fault architecture and position between active exploration areas provides a compelling basis for systematic exploration.

Exploration Strategy

Skull Ridge intends to undertake a compilation and targeting program designed to evaluate the geological potential of the Project and identify priority areas for follow-up exploration.

Initial work may include:

• Compilation of historical exploration and government geoscience data;
• Interpretation of regional magnetic and electromagnetic surveys;
• Identification of major faults, shear zones and intrusive contacts;
• Geological and structural mapping;
• Prospecting and systematic geochemical sampling;
• Alteration-mineral mapping and spectral analysis; and
• Prioritization of targets for follow-up geophysics and potential drilling.
  

The Company’s immediate objective is to determine whether regional structures, intrusive units, alteration systems and geophysical trends identified elsewhere in the district continue across Skull Ridge’s property and to establish a pipeline of priority exploration targets.

Third-Party Information

Scientific and technical information concerning adjoining or nearby properties was obtained from publicly available disclosure. Regional information regarding adjoining properties was derived principally from public disclosure issued by Pirate Gold Corp. on August 5, 2026, and Benton Resources Inc. on November 18, 2025.

Skull Ridge has not independently verified this third-party information. Mineralization reported on adjoining or nearby properties is not necessarily indicative of mineralization on Skull Ridge’s property, and there is no assurance that comparable mineralization will be discovered on the Company’s claims.

Third-party information is presented solely to provide regional geological context.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mike Kilbourne, P.Geo., a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Kilbourne is independent of and operates at arms length from the Company.

For Further Information

Karim Rayani
Executive Chairman and Chief Executive Officer
Skull Ridge Gold Corp.
Telephone: +1 604-716-0551 Email: k@r7.capital

About Skull Ridge Gold Corp.

Skull Ridge Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of high-potential precious and base metal projects. The Company’s flagship asset is the Skull Island Gold-Silver Project (formerly the Heritage Gold-Silver Project), located on the Burin Peninsula of Newfoundland and Labrador.

The district-scale project comprises approximately 145 km² of contiguous mineral claims and is underlain by Neoproterozoic volcanic rocks of the Avalonian Epithermal Belt. The project hosts the Point May Epithermal System, a 4.5 km by 5.2 km mineralized system containing numerous gold-silver zones, prospects and exploration targets. The Avalonian Epithermal Belt also hosts the past-producing Hope Brook Gold Mine, highlighting the broader mineral potential of the region.

Supported by an experienced management team and strengthened Board of Directors, Skull Ridge is focused on advancing the project through systematic exploration, disciplined capital allocation and strategic growth initiatives.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements regarding the prospectivity of the Crippleback–Stony Lake Gold Project; the possible continuation of regional structures, intrusive units, alteration systems and geophysical trends onto the Project; geological interpretations; potential styles of mineralization; proposed exploration activities; the advancement of the Skull Island Project; potential acquisitions; and the achievement of future corporate and exploration milestones.

Forward-looking information is based on assumptions considered reasonable by management as of the date of this release but is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. There can be no assurance that geological features or mineralization identified on adjoining or nearby properties extend onto Skull Ridge’s property, that the Company’s geological interpretations will be confirmed, that proposed exploration programs will proceed as contemplated or that exploration will result in a mineral discovery.

Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update such information except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45c14ddc-7bce-4376-ac78-1b4cd9c360e8