Gold Bulletin

Friday, June 12, 2026

Gold Market Context: Macro Drivers

Key macro instruments that drive gold price movements: dollar, yields, risk appetite

Market Commentary

Today's Interesting Company News

Contango Silver & Gold Inc. (CTGO) Opens the Market

(TSX: CTGO) Contango Silver & Gold Inc. celebrated its new listing on TSX, as announced by Rick Van Nieuwenhuyse, Chief Executive Officer, and Shawn Khunkhun, President. The company is described as a North American producer with a high-grade portfolio in Alaska and British Columbia. Contango Silver & Gold has demonstrated a proven track record of execution through the successful Direct Ship Ore (DSO) model at the Manh Choh mine. The company is leveraging this cash flow to advance a robust pipeline including the Lucky Shot, Johnson Tract, and district-scale Kitsault Valley projects. These projects are focused on rapid resource expansion and long-term shareholder value.

Great Atlantic Completes First Phase of 2026 Trenching Program at 100% Owned Golden Promise Property

(TSXV: GR) Great Atlantic Resources Corp. announced that its wholly-owned subsidiary, Golden Promise Mines Inc., has completed the first phase of its 2026 trenching program at the 100% owned Golden Promise Property, central Newfoundland. Three trenches, approximately 60, 70, and 105 meters long, were excavated within the southwest region of the property to test an area of multi-element soil geochemical anomalies, including gold anomalies. Rock samples collected at the trench sites have been submitted for gold and multi-element analysis, with analytical results pending. Soil samples from a 2024 reconnaissance traverse returned anomalous gold values of 44 ppb, 53 ppb, and 83 ppb, and anomalous values for silver (up to 3.9 ppm), copper (up to 121 ppm), molybdenum (up to 44 ppm), antimony (up to 28 ppm), zinc (up to 225 ppm), arsenic (up to 172 ppm), and vanadium (up to 920 ppm). The 2026 trenching program was conducted approximately 5 kilometers northeast of the Linda / Snow White gold bearing quartz vein system. The Golden Promise Property is the largest and most advanced of seven central Newfoundland gold properties owned by Golden Promise Mines. The company projects further advancement of additional targets across the property as part of its ongoing exploration program.

Triumph Gold Announces Closing of Private Placement

(TSXV: TIG) Triumph Gold Corp. announced the closing of its previously announced non-brokered private placement, raising gross proceeds of $5,410,000 through the issuance of 10,820,000 units at a price of $0.50 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at a price of $0.55 per share for a period of three years from the closing date. The company paid aggregate cash finder's fees of $275,450 and issued 550,900 non-transferable finder's warrants, each exercisable at $0.55 per share until June 12, 2029. A director of the company participated in the offering by acquiring 500,000 Units for a total consideration of $250,000. All securities issued or issuable in connection with the offering are subject to a four-month hold period expiring on October 13, 2026. The net proceeds of the offering will be used for general working capital. The offering remains subject to the final acceptance of the TSX Venture Exchange.

Silvercorp Reports a Mineral Reserve Increase of 50% in Tonnes and 20% in Silver Ounces for the Ying Mining District

(TSX:SVM) Silvercorp Metals Inc. reported the results of an updated Technical Report titled "NI 43-101 Technical Report Update on the Ying Ag-Pb-Zn-Au Property in Henan Province, People's Republic of China" with a Mineral Reserve and Mineral Resource effective date of December 31, 2025. The Ying 2026 Technical Report covers seven underground mines and the KP underground mine start-up in the Ying Mining District, with approximately 106 million ounces (Moz) of silver plus lead, zinc, and gold projected to be mined in the currently planned 17-year life of mine (LOM). Estimated Measured and Indicated Mineral Resources are 42.18 million tonnes grading 146 grams per tonne (g/t) Ag, 0.17 g/t Au, 2.24% Pb, and 0.67% Zn, containing 198 Moz Ag, 231 koz Au, 944 kt Pb, and 284 kt Zn. Estimated Proven and Probable Mineral Reserves are 19 million tonnes grading 174 g/t Ag, 0.17 g/t Au, 2.47% Pb, 0.80% Zn, and 0.04% Cu, containing 106 Moz Ag, 107 koz Au, 472 kt Pb, 150 kt Zn, and 6.7 kt Cu. Pre-tax and post-tax NPVs of $1,275M and $1,030M, respectively, are projected using a 5% discount rate and long-term metal prices of $28/oz Ag, $2,800/oz Au, $0.90/lb Pb, $1.20/lb Zn, and $4.40/lb Cu. Annual ore production in the LOM plan is projected to rise from about 1.2 Mt in FY2026 to over 1.6 Mt in FY2029, with that level maintained through FY2031. The company projects significant potential to extend the LOM beyond 2042 via further exploration and development, particularly in areas with identified Inferred Resources.

Arya Resources Announces Successful Phase 2 Drilling at Wedge Lake: Gold and Silver Intersected in All Holes, New Triplet Zone Discovered

(TSXV: RBZ) Arya Resources announced final results from its Phase 2 winter 2026 drill program at the Wedge Lake Project, with every drill hole in the Phase 2 program successfully intersecting gold and silver mineralization. Drill hole AR26-15 returned 4.85 g/t Au over 10.70 m, including 18.99 g/t Au over 2.0 m, and drill hole AR26-11 returned 3.91 g/t Au over 5.00 m, including 5.92 g/t Au over 3.00 m and 2.05 g/t over 10.00 m, including 4.77 g/t Au over 3.00 m. The winter drill program also resulted in the discovery of the Triplet Zone, located approximately 1,000 m to the west of the Twin Zone, with drill hole AR26-16 returning 6.05 g/t Au over 10.85 m, including 15.47 g/t Au over 2.70 m. Widespread moderate-grade silver mineralization was encountered, with scandium grades of up to 64.12 ppm Sc and silver up to 18.4 g/t Ag. The 2026 winter drill program at the Twin Zone comprised 805 metres across five drill holes, and the total metres drilled in the program was 1,041 m. The company is fully funded and currently planning its follow-up Phase 3 drill program, which will focus on expanding the footprint of mineralization at the Twin and Triplet Zones and testing additional historic gold occurrences.

Japan Gold Announces US$1 Million Convertible Debenture Financing

(TSXV:JG) Japan Gold Corp. announced a non-brokered private placement of unsecured convertible debentures for gross proceeds of US$1,000,000 (CDN$1,393,000) to Equinox Partners Investment Management, LLC. The Debenture will mature three years from the date of issuance and will bear interest at a rate of 10% per annum (non-compounded), accruing daily but payable in cash only at maturity, on default, or upon early redemption. The Company will have the right to make an early redemption in cash or to satisfy its obligation to pay cash through the delivery of common shares at a price per share which equals the greater of the most recent Market Price on the TSX Venture Exchange, $0.11, or a price per security or conversion price of debt securities in a Future Financing Event. A Future Financing Event is defined as an issuance or sale of securities by the Company resulting in gross offering proceeds of not less than CDN. $2,000,000 during the twelve month period immediately following the closing date of the Offering. As of the Closing Date, Equinox holds 90,133,518 shares, representing approximately 29.32% of the then issued and outstanding common shares of the Company. The net proceeds from the Offering will be used for general working capital purposes. The Offering and conversion of the Debenture into Shares is subject to final approval by the TSX Venture Exchange.

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