Upside Gold engages Moose Mountain on Kena resource estimate

Highlights

Moose Mountain Technical Services, which prepared the 2021 historical mineral resource estimate for Kena under the direction of Sue Bird, M.Sc., P.Eng., has been engaged to prepare an updated mineral resource estimate and NI 43-101 technical report for the Kena Gold-Copper Project.

Targeted for Q1 2027, the updated resource estimate is expected to incorporate 1,002 metres of drilling completed by Upside Gold in 2025, along with results from the Company’s expanded 2026 diamond drilling program and other drilling previously completed since the 2021 historical estimate.

For the first time, the updated resource model will incorporate copper and silver alongside gold, together with updated metal prices, costs, metallurgical recoveries and other economic parameters.

CALGARY, Alberta – TheNewswire - August 26, 2026 – Upside Gold Corp. (“Upside” or the “Company”) (CSE: UG) (FSE: 47I) (OTCQB: UGODF) is pleased to announce that it has engaged Moose Mountain Technical Services (“MMTS”) to prepare an updated mineral resource estimate and National Instrument 43-101 (“NI 43-101”) technical report for the Company’s Kena Gold-Copper Project (“Kena” or the “Project”) in southeastern British Columbia. MMTS and Sue Bird, M.Sc., P.Eng., also prepared the 2021 historical mineral resource estimate for the Kena Project, providing continuity and extensive familiarity with the Project and its geological database.

The updated mineral resource estimate represents an important next step in the Company’s advancement of Kena, incorporating new drilling and data generated since the 2021 historical mineral resource estimate. The updated model will also evaluate gold, copper and silver, providing a more comprehensive assessment of the mineralized system.

“Engaging Moose Mountain to undertake the updated resource estimate is a significant milestone for Upside and the Kena Project,” said Sophy Cesar, CEO and Director of Upside Gold. “Since the public filing of the 2021 historical resource estimate, additional drilling has provided us with considerably more information about the Kena system, and our 2026 drill program continues to build on that. Our goal is to grow the gold resource while also evaluating the potential contribution of copper and silver. With drilling continuing and Moose Mountain now engaged to undertake the resource update, we are advancing toward one of the Company’s most important milestones and are excited about what this next phase could reveal about the scale and potential of Kena.”

Under the engagement, MMTS will update and validate the Project’s drillhole database and QA/QC data, and develop updated mineralization shapes and block models incorporating gold, copper and silver grades and incorporating updated metal prices, smelter terms and costs.

The updated NI 43-101 mineral resource estimate is targeted for Q1 2027. The Company recently announced that its 2026 diamond drilling program had surpassed the 4,000 metres originally planned and that drilling would continue beyond the initial program. Results from the expanded program are expected to be incorporated into the updated resource estimate, subject to receipt and validation of all required assay and QA/QC data and progression of the resource modelling and technical work.

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

(403) 650-7718

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 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. Additional drilling and technical work will be required to verify the historical estimate as a current mineral resource . 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 an 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.

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TheNewsWire

August 26, 2026 - 7:50 AM PDT

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