$4,000 Gold on the Horizon? Why Smart Money Is Piling Into Select Miners Ahead of Q2 2026

Issued on behalf of Rua Gold Inc.

Equity Insider News Commentary Despite the hyperactivity in the markets and with gold prices, analysts at JP Morgan are still predicting $4,000 oz gold prices by Q2 2026 . And the optimism for gold bugs doesn't end there, as a new report from Morningstar Equity Research is highlighting how these high gold prices support gold miner stocks. Now analysts from Jefferies are raising their price targets for gold mining stocks ahead of upcoming earnings reports. Several gold stocks are providing reason for their recent market attention, including developments from Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF), Contango Ore Inc. (NYSE-American: CTGO), Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF), Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), and Goliath Resources Limited (TSXV: GOT) (OTCQB: GOTRF).

Seen as a safe haven, demand for the precious metal is on the rise along with prices themselves. As far as miners go, one can look to the ETFs to see that both the VanEck Junior Gold Miners ETF (GDXJ) and Sprott Junior Gold Miners ETF (SGDJ) have had a stellar 2025 so far, with +44.80% and +39.58% year-to-date performance respectively (as of April 24, 2025 ).

New Zealand -focused gold exploration company, Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) , recently reported encouraging new drill results from its Auld Creek project in the historic Reefton Goldfield, with assays pointing to improved gold grades at depth along the Fraternal ore shoot. Standout intercepts include 9.0 meters at 5.9 g/t gold equivalent (5.2 g/t Au and 0.16% Sb) from hole ACDDH027, and 1.25 meters at 48.3 g/t AuEq (13.3 g/t Au and 8.1% Sb) from ACDDH028. Importantly, these results—returned from 80 to 100 meters beneath the current resource envelope—appear to confirm that gold-antimony mineralization intensifies with depth, supporting the company's model of a high-grade, south-plunging zone that remains open.

The Auld Creek project represents just one component of RUA's broader 2025 exploration push across the Reefton district, where the company now holds 95% control over the historic goldfield.

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RUA Gold is taking a fresh approach to one of New Zealand's most storied gold districts—becoming the first modern explorer to deploy advanced geological modeling and AI-driven targeting across the Reefton Goldfield.

And it's working.

At Auld Creek, the company's flagship project, early drill campaigns have already delivered hits like 12 meters at 12.2 g/t gold equivalent, including a standout 2 meters at 54.8 g/t gold, while surface sampling has uncovered antimony grades topping 40%. Four mineralized shoots have been confirmed so far, but only two are factored into the current inferred resource: 700,000 tonnes grading 3.1 g/t gold and 1.1% antimony—suggesting considerable room to grow.

Meanwhile, the 2025 drill season is expanding across the district.

Active programs are now underway at Murray Creek and the Gallant prospect within the Cumberland camp. As a target prioritized by modern AI technology, Gallant sits just 3 kilometers from the historic Globe Progress mine, where OceanaGold pulled more than 610,000 ounces of gold between 2007 and 2016, on top of the 424,000 ounces produced before 1950. Taken together, the Reefton belt has historically yielded over 2 million ounces, with grades that once reached 50 g/t.

Gallant is being tested for potential extensions of a previously reported 20.7-meter vein grading 62.2 g/t gold, including a 1-meter blast of 1,911 g/t. At Murray Creek, visible gold has now been noted in the majority of holes—an encouraging sign for a system still in its early innings.

But RUA's ambitions don't end in Reefton.

On the North Island, the company is advancing its Glamorgan Project , located near OceanaGold's Wharekirauponga (WKP) deposit. There, two large gold-arsenic anomalies—spanning more than 4 kilometers—have been mapped, and rock samples have returned assays as high as 43 g/t gold. With drill targeting already underway, Glamorgan could emerge as the company's next high-impact play.

Although gold remains the central theme, antimony is quietly shaping up as a strategic wild card . In January 2025 , New Zealand added antimony to its official Critical Minerals List . With global supplies tightening and prices rising above US$50,000 per tonne , intercepts like 0.3 meters at 27.2 g/t gold and 1.35% Sb are starting to draw meaningful investor attention.

With a team behind $11 billion in mining exits , and $5.75 million in fresh capital, Rua Gold is not just exploring—it's executing on a clear plan to unlock overlooked, high-grade potential across one of the Southern Hemisphere's most underexplored gold belts.

CONTINUED… Read this and more news for Rua Gold at: https://equity-insider.com/2025/04/24/others-found-1911-g-t-here-before-now-a-proven-11b-mining-team-is-back-to-finish-the-job/

In other industry developments and happenings in the market include:

Contango Ore Inc. (NYSE-American: CTGO) recently announced a $9 million cash distribution from the Peak Gold JV , bringing total proceeds from Manh Choh gold sales in 2025 to $33 million .

"Operations remain on track at Manh Choh with Contango's share of gold production for 2025 expected to be 60,000 ounces at the previously guided all-in-sustaining costs ("AISC") of $1,625 per ounce of gold sold for 2025," Rick Van Nieuwenhuyse , President and CEO of Contango Ore . "We plan to release financial results from the Q1-2025 on May 14, 2025 ."

The first of four production campaigns has now been completed, with 20,000 ounces delivered to Contango's account. A second campaign is scheduled to begin mid-May, with full-year production guidance holding at 60,000 ounces.

"On our Johnson Tract, we are in final stages of completing the previously announced preliminary economic assessment ("PEA") and expect to have it released by the end of April," added Van Nieuwenhuyse .

Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) continues to advance its Los Reyes Project in Sinaloa, Mexico , with high-grade gold-silver intercepts from multiple zones, including Z-T, Central, Guadalupe East, Las Primas, and Fresnillo . Recent drilling highlights included 42.07 g/t AuEq over 1.0 m at Guadalupe East and 9.39 g/t AuEq over 10.5 m at Z-T, while new results from the Fresnillo generative target show near-surface mineralization extended by 120 metres .

"2024 proved to be another transformational year for Prime: we drilled over 50,000 metres, expanded the Los Reyes resource, advanced technical de-risking and worked closely with our communities to earn our social license to operate," said Scott Hicks , CEO of Prime . "In 2025, we are looking forward to continuing our track record of exploration success while demonstrating our deep commitment to our local communities and the environment. We additionally plan to advance our understanding of Los Reyes toward a Preliminary Economic Assessment."

Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF) recently signed a mandate letter with a syndicate of global financial institutions, including Societe Generale , KfW IPEX-Bank , and Export Development Canada , to arrange up to US$700 million in structured project debt financing. This follows US$1.3 billion in previously announced LOIs from export credit agencies and marks a major step toward a fully funded construction package.

"Securing this mandate with three globally recognized financial institutions that have expertise in structuring financing solutions for large-scale mining development is a pivotal step in delivering a fully funded construction package for the Troilus project," said Justin Reid , CEO of Troilus . "These institutions bring world-class mining finance expertise, and their participation further validates the project's strong fundamentals and strategic importance. Project due diligence is underway in parallel with continued permitting and detailed engineering; our development schedule is on track as we advance Troilus towards construction."

Goliath Resources Limited (TSXV: GOT) (OTCQB: GOTRF) recently definitively confirmed its Surebet discovery as part of a large-scale, high-grade Reduced Intrusion Related Gold (RIRG) system, following a detailed geological study by the Colorado School of Mines . The study confirms two distinct but related mineralization styles tied to a single magmatic source, with visible gold increasing in grade and coarseness at depth.

Drilling has intercepted gold in 100% of 243 holes across a 1.8 km² area, including intercepts of 34.52 g/t AuEq over 39.0 meters. With the system still open in all directions, Surebet presents a compelling case for a major gold discovery in the heart of British Columbia's Golden Triangle.

"When you consider how widespread the high-grade gold mineralization is in the veins and RIRG zones, the source is potentially extremely large," said Roger Rosmus , Founder and CEO of Goliath Resources . "The more drilling and scientific studies we do at the Surebet discovery, the better it gets, and we are still high in the system that is open in all directions, and we are delighted with the prospect with what can be found as we continue to laterally and drill deeper for the source of the high-grade gold system."

Article Source: https://equity-insider.com/2025/04/24/others-found-1911-g-t-here-before-now-a-proven-11b-mining-team-is-back-to-finish-the-job/

CONTACT:

Equity Insider
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(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca media corp, who has been paid a fee for an advertising contract with Rua Gold Inc. ( forty five thousand dollars Canadian for a three month contract subject to the terms and conditions of the agreement from the company direct). MIQ has not been paid a fee for Rua Gold Inc. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. ("BAY") There may also be 3rd parties who may have shares of Rua Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of Rua Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of Rua Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Rua Gold Inc. Technical information relating to Rua Gold Inc. has been reviewed and approved by Simon Henderson , CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of Rua Gold Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of Rua Gold Inc. but will likely buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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RUA GOLD Expands Reefton Drill Program and Provides Strategic Outlook

Rua Gold Inc. (TSXV: RUA,OTC:NZAUF) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to announce the commencement of an expanded drilling program at its Reefton Project on the South Island of New Zealand, and outlines the strategy for its fully funded 12-month exploration program.

Highlights:

Robert Eckford, CEO of Rua Gold commented: "We closed Q2 2025 with $14 million in the treasury, placing us in a strong position to execute on our aggressive exploration plan in New Zealand. Over the past month, our Board and Management team have been focused on shaping the Company's strategy to transition us from an explorer to a developer.

With New Zealand's highly supportive permitting regime, our goal is to rapidly build ounces on our balance sheet and enter the "Fast Track Permitting Process" in 2026.

As our gold-antimony resource continues to grow rapidly - and with antimony at the top of every nations' critical minerals lists - the significance of this resource expansion and accelerated permitting is substantial for both Rua Gold and New Zealand"

Figure 1: Conceptual Plan for Auld Creek Resource Expansion Drilling

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/261264_7a1d886224f7aab4_007full.jpg

Figure 2: Alexander River long-section schematic

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/261264_b92d33bd249cf94d_001full.jpg

Reefton Goldfield Exploration Overview

The Reefton Goldfield is an orogenic district that produced 2Moz of gold at grades up to 50g/t up to the early 1900s. Rua Gold has assembled 120,000 hectares within this district that has seen limited drilling in the last 30 years. This goldfield is analogous in age, geology, mineralization style, and geological structure to that of Southern Cross Gold and the Fosterville Gold mine.

Auld Creek: Rua Gold commenced drilling at Auld Creek in December 2024 and has completed ~2,800 metres of drilling. The targeted program aims to add a further 4,000 metres of drilling across four mineralised shoots identified from surface exploration work (Figure 1). Following this, the resource will be refreshed and updated into the 43-101 report.

The Company is targeting an increase of the Auld Creek resource to over 300,000 gold-equivalent ounces by the end of 2025. This target is a global estimate based on current resource surface extension of 350 metres being extended over a 1km on surface at similar depths of 280 metres. Insufficient exploration to define a mineral resource has been completed to date and there is uncertainty if a mineral resource estimate will be delineated, therefore economic decisions should not be made on this target.

Auld Creek is situated between two past producing mines, Globe Progress mine, and the Crushington Group of mines which collectively produced 933,000oz at 14.0g/t Au (Barry 1993).

Cumberland: Initial drilling from Rua Gold confirms the consistency of the near-surface gold mineralization and supports the strong potential of this target. Ongoing drilling is targeting the southern surface extension 100m along strike and at depth. Intensified surface exploration is underway to delineate additional drill targets along the 2.5 km long gold mineralized shear zone.

Additional targets are currently being modelled and surveyed across the Reefton Goldfield, including Caledonia in the north, and Alexander River in the south. Caledonia represents a historical mine recording the highest grade production (9 oz/ton gold) in the Reefton Goldfield. It was abandoned early and represents a shallow development target.

"The first crushing yielded at the rate of 9 oz. per ton, with subsequent crushings averaging about 4 oz. per ton. The ore-shoot had a steep easterly dip, and pitched to the north at about 30°. It had an average length of about 180 ft. and a width of 3 ft." * Henderson 1917.

Alexander River returned historical production of 41Koz @ 26g/t Au, mining ceasing in 1942 due to WWII. Mineralization outcrops over 1.2kms, comprises high-grade quartz reefs and disseminated sulfides; predecessor Siren Gold drilled extensively along the structure, and intersected some exceptionally high-grade zones which remain open at depth (Figure 2 Alexander River long-section schematic).

An Inferred Resource 130koz @ 4.1g/t Au* has potential to develop along strike and at depth, remodeling and further drilling is a priority of the strategic plan.

*NI 43 101 Technical Report on the Reefton Project, New Zealand. Prepared for Rua Gold Inc, 30 October 2024.

Glamorgan Exploration Overview

Glamorgan on the North Island is an exciting new epithermal gold target. Rua Gold has completed extensive surface exploration over the past 12 months as a precursor to drill targeting. Four significant gold-arsenic soil anomalies trending north, north-east and north-northwest strike out individually over 4 kms in length. Drill applications have now been submitted and drilling is expected to commence in Q4 2025.

Results from the work to date indicate the classic features of a major epithermal gold-silver system and are identical to the surface features of neighboring OceanaGold Project, Wharekirauponga, which is currently in New Zealand's Fast Track Permitting process with a decision expected in Q4 2025.

Importantly, Rua Gold's Chief Operating Officer, Simon Henderson was a member of the exploration team that led to the discovery of Wharekirauponga and has more the 25 years working in the region.

New Marketing Agreements

Capital Gain Media Inc.: On August 4, 2025, the Company entered into an investor relations agreement with Capital Gain Media Inc. ("Capital Gain"). Pursuant to the investor relations agreement, Capital Gain has agreed to provide content development and digital marketing services. The investor relations agreement will remain in effect for five (5) months commencing on August 4, 2025. In accordance with the terms and conditions of the investor relations agreement and as consideration for the services provided by Capital Gain, the Company agreed to pay an aggregate cash fee of US$120,000, plus applicable taxes. As of the date hereof, to the Company's knowledge, Capital Gain (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. Under the Capital Gain Agreement, the Company will not issue any securities to Capital Gain as compensation for its marketing service. Capital Gain provides investor relation services and the contact information for Capital Gain is: Capital Gain Media Inc., 1111 West Hastings Street, 15th Floor, Vancouver, BC V6E 2J3. The contact person of Capital Gain is Graham Colmer, email: admin@capitalgainmedia.com, phone: 1 (604) 379-8363.

Sidis Holdings: The Company has entered into a Services Agreement dated July 30, 2025 (the "Sidis Holdings Agreement") with Sidis Holdings pursuant to which Sidis Holdings has agreed to provide investor relations, market awareness campaigns and digital media support. Pursuant to the terms of the Sidis Holdings Agreement, such services are to be provided over a 6-month period, for a fee of US$120,000 plus applicable taxes. Sidis Holdings is a full-service marketing agency based in Hong Kong, and is headed by Francis Barker. As of the date hereof, to the Company's knowledge, Sidis Holdings (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. Under the Sidis Holdings Agreement, the Company will not issue any securities to Sidis Holdings as compensation for its marketing service.

ABOUT Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, Wharekirauponga.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

TECHNICAL INFORMATION

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of Rua Gold, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Reefton and Glamorgan projects and the results thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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RUA GOLD Closes C$13.8 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

Highlights

Closing the oversubscribed brokered offering for $13.8 million of gross proceeds.
Offering was completed without dilutive warrants and without a significant discount to market trading price.
Incoming key long-term supportive 9.9% shareholder leading the private placement and serving as a cornerstone investor to the Rua Gold journey.
Completion of this financing secures a treasury balance sufficient to fund 12 to 18 months of aggressive exploration across on the projects.

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to announce that it has closed its previously announced brokered "best efforts" public offering (the "Public Offering") and private placement (the "Private Placement" and with the Public Offering, the "Offering") consisting of 19,714,450 common shares in the capital of the Company (each, a "Common Share"), which included the exercise of the over-allotment option in full, at a price of C$0.70 per Common Share for aggregate gross proceeds of C$13,800,115.

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RUA GOLD Announces C$12 Million Brokered Offering of Common Shares

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) (" Rua Gold " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and Red Cloud Securities Inc., to act as agents (the " Agents ") on a "best efforts" agency basis in connection with a public offering (the " Public Offering ") and contemporaneous private placement (the " Private Placement ") of 17,143,000 common shares in the capital of the Company (each, a " Common Share ") at a price of C$0.70 per Common Share (the " Offering Price ") for aggregate gross proceeds of C$12,000,100 (the " Offering "). The allocation of the number of Common Shares to be issued in connection with the Public Offering and the Private Placement will be determined prior to filing the Supplement (as defined below).

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Radisson Files Technical Report for O'Brien Gold Project Preliminary Economic Assessment

Radisson Mining Resources Inc. (TSXV: RDS,OTC:RMRDF) (OTCQB: RMRDF) ("Radisson" or the "Company") is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects for the O'Brien Gold Project ("O'Brien" or the "Project") located in the Abitibi region of Québec. The report is titled "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada." A copy of the technical report is available under the Company's profile on SEDAR+.

The O'Brien Preliminary Economic Assessment ("PEA") describes a high value project based on the use of neighbouring milling facilities for the processing of mined material, reducing capital costs, development risk, and project footprint (see Radisson news release dated July 9, 2025). It represents a "snap-shot" study for the Project, utilizing the existing Mineral Resource Estimate ("MRE"), re-blocked with an updated cut-off yielding more ounces in more tonnes with good continuity at a lower average grade. An ongoing 50-60,000 metre drill program at the Project is currently delineating new gold mineralization outside the scope of the MRE and the initial mine design, including below the historic O'Brien mine workings.

Highlights of the PEA include:

After-tax Net Present Value at a 5% discount rate ("NPV_5%") of $532 million, Internal Rate of Return of 48%, and payback of 2.0 years at US$2,550/oz gold ("Au").
Initial Capital Cost of $175 million and Life-of-Mine Sustaining Capital of $173 million.
Cash Cost¹ of US$861/oz and All-In Sustaining Cost¹ of US$1,059/oz including conceptual 30% toll milling margin on processing and G&A costs.
Extremely capital efficient with after-tax NPV_5% to Initial Capital Cost ratio of 3.0 at US$2,550/oz Au.
11-Year Mine Life with 740 koz mined and 647 koz recovered at 87% average recovery with a gravity-flotation-regrind-leach flowsheet.
70 koz/annum average steady-state gold production (Years 2-8) at an average annual after-tax Free Cash Flow¹ of $97 million.

The PEA was completed by Ausenco Engineering Canada ULC as lead consultant with specific responsibility for metallurgy, processing design, infrastructure and financial modelling. InnovExplo (a member of Norda Stelo Inc.) completed the mine design and mine scheduling, BBA Inc. were responsible for water management, surface facilities, and a review of the Project's environmental assessment procedure and permitting requirements, and SLR Consulting (Canada) Ltd. were responsible for the MRE.

Qualified Persons

Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Mr. Richard Nieminen, P.Geo, (QC), a geological consultant for Radisson and a Qualified Person for purposes of NI 43-101. Mr. Nieminen is independent of Radisson and the O'Brien Gold Project.

The PEA is authored by Renée Barrette of Ausenco Engineering Canada ULC, the Qualified Person responsible for the preparation of the sections in the PEA on the Project's milling assessment, metallurgy, and the financial model which is based on capital costs, operating costs, and the mining cost provided by other parties; Mr. Luke Evans, M.Sc., P.Eng., ing, of SLR Consulting (Canada) Ltd., the Qualified Person responsible for the preparation of the MRE at O'Brien; Mr. Marc R. Beauvais, P.Eng. of InnovExplo, a member of Norda Stelo Inc., the Qualified Person responsible for the sections in the PEA on the mine design and mine scheduling, and; Mr. Hugo Latulippe of BBA Inc., the Qualified Person responsible for the sections on permitting, environmental, social, water management and closure cost estimate in the PEA. Each of Ms. Barrette, Mr. Evans, Mr. Beauvais and Mr. Latulippe have reviewed and approved the technical information contained in the PEA in their area of expertise and are considered to be "independent" of Radisson and the O'Brien Gold Project for purposes of NI 43-101.

Non-IFRS Financial Measures

The Company has included various references in this document that constitute "specified financial measures" within the meaning of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure of the Canadian Securities Administrators, such as, for example, Free Cash Flow, EBITDA, Total Cash Cost and All-In Sustaining Cost. None of these specified measures is a standardized financial measure under International Financial Reporting Standards ("IFRS") and these measures might not be comparable to similar financial measures disclosed by other issuers. Each of these measures are intended to provide additional information to the reader and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Certain non-IFRS financial measures used in this news release and common to the gold mining industry are defined below.

Total Cash Cost and Total Cash Cost per Ounce

Total Cash Cost is reflective of the cost of production. Total Cash Cost reported in the PEA include mining costs, processing & water treatment costs, general and administrative costs of the mine, off-site costs, refining costs, transportation costs and royalties. Total Cash Cost per Ounce is calculated as Total Cash Cost divided by payable gold ounces.

All-in Sustaining Cost (AISC) and AISC per Ounce

AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PEA includes total cash costs, sustaining capital, expansion capital and closure costs, but excludes corporate general and administrative costs and salvage. AISC per Ounce is calculated as AISC divided by payable gold ounces.

Free Cash Flow (FCF)

FCF deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow is intended to provide additional information only and does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. Other companies may calculate this measure differently.

About Ausenco

Ausenco is a global company redefining what's possible. The team is based out of 21 offices working across five continents to deliver services worldwide. Combining deep technical expertise with a 30-year track record, Ausenco delivers innovative, value-add consulting, studies, project delivery, asset operations and maintenance solutions to the minerals and metals and industrial sectors (www.ausenco.com).

About Radisson Mining

Radisson is a gold exploration company focused on its 100% owned O'Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. A July 2025 Preliminary Economic Assessment described a low cost and high value project with an 11-year mine life and significant upside potential based on the use of existing regional infrastructure. Indicated Mineral Resources are estimated at 0.58 million ounces (2.20 million tonnes at 8.2 g/t Au), with additional Inferred Mineral Resources estimated at 0.93 million ounces (6.67 million tonnes at 4.4 g/t Au). Please see the NI 43-101 "O'Brien Gold Project Technical Report and Preliminary Economic Assessment, Québec, Canada" dated August 20, 2025, and other filings made with Canadian securities regulatory authorities available at www.sedarplus.ca for further details and assumptions relating to the O'Brien Gold Project.

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Matt Manson
President and CEO
416.618.5885
mmanson@radissonmining.com

Kristina Pillon
Manager, Investor Relations
604.908.1695
kpillon@radissonmining.com

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to the ability to execute the Company's plans relating to the O'Brien Gold Project as set out in the PEA; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the O'Brien Gold Project; the absence of unforeseen operational delays; the absence of material delays in obtaining necessary permits; the price of gold remaining at levels that render the O'Brien Gold Project profitable; the Company's ability to continue raising necessary capital to finance its operations; the ability to realize on the mineral resource and mineral reserve estimates; assumptions regarding present and future business strategies, local and global geopolitical and economic conditions and the environment in which the Company operates and will operate in the future;, planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, and the ability to incorporate new drilling in an updated technical report and resource modelling; the Company's ability to grow the O'Brien Gold Project; the ability to negotiate and execute an arrangement with IAMGOLD related to the Doyon Mill on satisfactory terms or at all; and the ability to convert inferred mineral resources to indicated mineral resources.

Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking information is based on estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others; the risk that the O'Brien Gold Project will never reach the production stage (including due to a lack of financing); the Company's capital requirements and access to funding; changes in legislation, regulations and accounting standards to which the Company is subject, including environmental, health and safety standards, and the impact of such legislation, regulations and standards on the Company's activities; price volatility and availability of commodities; instability in the global financial system; the effects of high inflation, such as higher commodity prices; the risk of any future litigation against the Company; changes in project parameters and/or economic assessments as plans continue to be refined; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks relating to the drill results at O'Brien; the significance of drill results; and the ability of drill results to accurately predict mineralization. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

Please refer to the "Risks and Uncertainties Related to Exploration" and the "Risks Related to Financing and Development" sections of the Company's Management's Discussion and Analysis dated April 29, 2025 for the years ended December 31, 2024, and the Company's Management's Discussion and Analysis dated May 28, 2025 for the three-months ended March 31, 2025, all of which are available electronically on SEDAR+ at www.sedarplus.ca. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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FORTUNE BAY PROVIDES UPDATE ON PARTNER-FUNDED URANIUM EXPLORATION IN SASKATCHEWAN

Airborne survey underway at The Woods; drilling at Murmac set to commence mid-September

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to provide an update on its uranium exploration activities on the northern margin of Saskatchewan's Athabasca Basin (the "Basin"). Airborne geophysical survey is currently underway at The Woods Projects and a drill program at the Murmac Project is scheduled to commence in mid-September 2025 . These partner-funded initiatives provide the Company with significant discovery exposure in one of the world's premier uranium jurisdictions, complementing its core gold project portfolio.

News Provided by Canada Newswire via QuoteMedia

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Hole ID	Easting	Northing	rL	Total Depth	Site _ID	Dip	Azimuth (true)	Year
ACDDH022	1507213	5333198	511.11	108.5	Pad 10	-54	193	2024
ACDDH023	1507213	5333200	510.87	51.5	Pad 10	-60	85	2024
ACDDH024	1507290	5333150	538.41	156.3	Old Pad 13	-37	220	2025
ACDDH025	1507290	5333151	538.03	180.9	Old Pad 13	-54	248	2025
ACDDH026	1507291	5333151	537.77	200	Old Pad 13	-59	231	2025
ACDDH027	1507291	5333150	538.15	193.4	Old Pad 13	-45	212	2025
ACDDH028	1507078	5332957	605.4	243.5	Pad 18	-50	104	2025
ACDDH029	1507079	5332956	605.43	256	Pad 18	-50	120	2025
ACDDH030	1507074	5332955	606.38	268.5	Pad 18	-53	85	2025
ACDDH031	1507074	5332955	606.24	336	Pad 18	-65	74	2025
ACDDH032	1507075	5332956	606.15	351.6	Pad 18	-70	108	2025
ACDDH033*	1507076	5332956	606.13	291.1	Pad 18	-64	92	2025
ACDDH034*	1507213	5333197	511.61	200	Pad 10	-72	267	2025

Sample No	From	To	Interval	Au (g/t)	Sb (%)
ACDDH026	175	175.9	0.9	0.96
ACDDH026	175.9	177.1	1.2	1.55
ACDDH027	152	153	1	2.52
ACDDH027	153	154	1	1.88
ACDDH027	154	155	1	3.44
ACDDH027	155	156	1	2.25
ACDDH027	156	157	1	1.84
ACDDH027	157	158	1	0.37
ACDDH027	158	159	1	0.15
ACDDH027	159	160	1	2.38	0.013%
ACDDH027	160	161	1	2.39	0.802%
ACDDH027	161	162	1	4.75	0.008%
ACDDH027	162	163	1	2.84	0.016%
ACDDH027	163	164	1	8.42	0.010%
ACDDH027	164	165	1	4.7	0.010%
ACDDH027	165	166	1	3.77	0.009%
ACDDH027	166	167	1	15	0.178%
ACDDH027	167	168	1	3.11	0.428%
ACDDH028	209.5	210.15	0.65	0.92
ACDDH028	210.15	210.6	0.45	18.4	11.600%
ACDDH028	210.6	211.4	0.8	8.28	4.680%
ACDDH028	211.4	212	0.6	1.68
ACDDH031	310.4	312.5	2.1	5.4	13.06%
ACDDH032	296	305	9.0	0.6

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