Goldera expands E1 gold discovery with two parallel structures at Egan
VANCOUVER, British Columbia, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Goldera Exploration Ltd. (“Goldera” or the “Company”) (TSX Venture Exchange: GERA) is pleased to provide an update on its on-going exploration activities at the high-grade Egan Gold Project in the world-class Timmins gold camp, Abitibi Greenstone Belt. In preparation for the upcoming drill program, these surface programs have been successful at exposing two additional subparallel structures to the high-grade gold E1 area structure, which was the initial discovery made on the Egan Gold Project. As a result, Goldera has potentially expanded the E1 discovery footprint from a single known structure to a broader, multi-structure gold system.
Key Highlights:
- The ongoing trenching and mapping program identified two new subparallel structures at the E1 footwall displaying similar alteration, quartz veining and structural characteristics known to carry gold mineralization at the E1 initial discovery zone, expanding the potential mineralized zone to ~250 metres across strike and 450 metres along strike, broadly parallel to the syenite-country rock contact.
- The August program included 15 trenches, 488 soil samples, 136 rock grab samples and 222 saw-channel samples. Assay results remain pending.
- Additional stripping planned at E1, with E2 and E3 scheduled for later follow-up work.
- Drill planning is underway, expected to refine and finalize targets by Q4-2026 based on results of the current surface exploration program.
- Egan is a 111 km² district-scale property ~50 km from Timmins, with four previously identified gold occurrences and historical surface samples up to 105 g/t Au at E1.
“The discovery of two additional structures with geological characteristics similar to the high-grade E1 occurrence materially expands the exploration potential of this part of Egan,” said Charles Tarnocai, CEO & Director of Goldera. “Importantly, we are no longer looking at E1 as an isolated surface occurrence, we are seeing evidence of a broader structural framework extending across hundreds of metres, with the newly exposed structures potentially sharing similar alteration, quartz veining and orientation to the original E1 discovery.”
Surface Stripping Expands the E1 Gold System
Goldera’s ongoing surface stripping and channel sampling program, which initially focused on the E1 area, has identified two additional subparallel structures within the footwall of the high-grade E1 gold occurrence, expanding the area of interest around the Company’s initial discovery. The newly exposed structures, identified in trenches TR2 and TR5, display similar alteration and quartz-veining characteristics to E1, including intense iron-carbonate-specularite-silica alteration and pyrite within the northeasterly trending shear zones. The structures occur over an area extending approximately 250 meters into the E1 structure footwall and 450 meters along strike, and are broadly parallel to the syenite contact within the surrounding country rock mafic volcanic units and gabbro, to the north (refer to Figure 2). The true width of the altered structures exposed are up to 50cm. As with E1, the wall rocks to these structures host northerly trending quartz veinlet zones. At E1, visible gold is observed in quartz veins with similar orientation and crack-seal textures (refer to Figure 3). This suggests that gold is not only associated with the northeasterly trending structures, but quartz vein arrays in their wall rocks, potentially presenting a bulk tonnage opportunity. The August exploration program consisted of prospecting, soil geochemical sampling, mapping and the excavation of 15 trenches. In total, 488 soil samples, 136 rock grab samples and 222 saw channel samples (including QA/QC) were collected and sent for analysis. Sample results are pending from the surface stripping and soil sampling conducted on the property. Following the field crew break concluding at the end of this month, additional surface stripping is planned to further expose structures in the E1 area where permits allow. Permits are available for stripping at E3 target, and work at E2 is pending a crossing permit for a narrow creek. Permits for additional trenching and stripping in the E1 area will also be prepared.
Figure 1: Regional location of Egan Gold Project.
Figure 2: Trenched and stripped areas in the E1 gold occurrence area. Altered structures similar to that identified at the high-grade gold E1 showing are identified in trenches TR2 and TR5. These structures have a similar trend and dip direction, identified in an area of 250m across strike and ~450m along strike. Inferred strike extensions of those structures are shown as dashed red lines, with uncertain extents. Fault kinematics are from field observations. The inset shows the extent of all trenching in the current, on-going program, with the external property boundary denoted as a heavy black line. For regional location reference, refer to Figure 1.
Figure 3: Visible gold with pyrite in quartz veining in hanging wall of the E1 gold occurrence. Similarly oriented quartz-veins with crack-seal textures are observed in newly exposed structures. Location 48.4114561°N, -80.6791542°W.
Egan Gold Project Overview
The Egan Gold Project comprises 449 claims covering ~111 km², located approximately 50 kilometers from Timmins within the prolific Abitibi Greenstone Belt of Ontario, a region with a long history of prominent gold discoveries and active operations. The district-scale project hosts an overlooked syenite-hosted gold system with both high-grade and bulk-tonnage exploration potential. Despite being located close to one of the largest gold producing camps in the world, Egan is a new discovery with very limited past work. Previous work defined four gold occurrences at areas E1, E1S, E2 and E3, returning numerous high-grade gold results in grab samples, up to 105.0 g/t Au at E1 area and grab samples recorded up to 44.7 g/t Au and 19.0 g/t Au at E3 area, demonstrating the presence of robust gold-bearing structures at surface across a broad area. From a regional exploration perspective, Egan is positioned within a structurally favorable portion of the Abitibi Greenstone Belt, about 8 kilometers south of the Destor–Porcupine deformation zone (refer to Figure 1).
The Egan Gold property is under option agreement with Harfang Exploration Inc., allowing Goldera to earn up to 80% interest (refer to Fancamp Exploration Ltd. press release dated November 12, 2025). Goldera is currently in the first, 40% earn-in phase of the option agreement, an initial phase that should be completed with the program outlined above.
Qualified Person
The technical information contained in this press release was reviewed and approved by François Auclair, PGeo, M.Sc. Vice President Exploration of Goldera, designated as a Qualified Person under National Instrument 43-101. M Auclair, the Company’s qualified person and an officer, has reviewed and approved the technical disclosure contained in this news release.
Quality Assurance and Quality Control
François Auclair, PGeo, M.Sc., a Qualified Person as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). Assays for the soil sampling and trenching were respectively analyzed by ALS Canada Ltd. and Techni-Lab, a subdivision of Actlabs. The Corporation inserts quality control samples (blanks, standard reference material, and duplicates) at regular intervals to monitor laboratory performance.
About Goldera Exploration Ltd.
Goldera Exploration Ltd. (TSX-V:GERA) is a discovery-driven Canadian gold and copper exploration company advancing a portfolio of high-potential exploration assets across Canada's premier mining districts. Goldera is focused on unlocking value through systematic exploration of district-scale gold and copper projects in Ontario, Québec and New Brunswick, with interests in the Yukon, supported by an experienced technical and capital markets team. Goldera is advancing exploration at its flagship Egan Gold mineral project in Ontario's Abitibi Greenstone Belt and the Acadian Gold Corp. joint venture in New Brunswick’s emerging gold-copper district.
Further information on Goldera can be found at: www.golderaexploration.com
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For Further Information
Charles Tarnocai, CEO & Director, Goldera Exploration Ltd.
info@golderaexploration.com
Tara Asfour, Communications & Marketing
tasfour@golderaexploration.com
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company's strategic plans; the composition and timing of completion of the Company’s exploration and drill programs on the Egan Gold Project and the McIntyre Brook and Riley Brook mineral properties held by Acadian Gold; the anticipated objectives, benefits and results of the Company’s exploration programs, including the aim of such programs to test multiple high-priority targets and expand areas of known gold mineralization, with the intention of follow-up drilling in late Q3 - early Q4 of this year; the intended use of proceeds from Goldera’s previously completed financing; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.
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: conditions in general economic and financial markets; the benefits to be derived from the Company’s proposed exploration programs; 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; changes in commodity prices; changes in interest rates; failure to delineate potential quantities and grades of the target zones based on historical data; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government or regulatory approvals, industrial disturbances or other job actions, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; general market and industry conditions; and those factors identified under the caption “Risks Factors” in the Company’s Form 2B Listing Application dated July 29, 2026.
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.
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