Gold Bulletin

Thursday, August 6, 2026

Gold Market Context: Macro Drivers

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Today's Interesting Company News

Barton Gold Completes Phase 2 Upgrade Drilling at Tunkillia Project

(ASX: BGD) (OTCQB: BGDFF) Barton Gold has completed a Phase 2 resource upgrade drilling campaign at its Tunkillia gold project in South Australia. The company has drilled a total of 520 reverse circulation and diamond holes for 57,653 metres during the Phase 1 and Phase 2 campaigns. The S1 starter pit has been modelled to yield 206,000 ounces gold and 491,000oz silver at a cash cost of $997/oz to produce over $800 million in operating cash, repaying the development more than twice over in the first year. The S1 and S2 pits have been modelled to produce 365,000oz gold, 923,000oz silver, and $1.75 billion in free cash during the first 27 months of operation. In June, Barton added 10,500m of drilling to expand the Phase 2 campaign to 40,000m. A pre-feasibility study (PFS) is underway for a large-scale gold development, with publication targeted for the first quarter of calendar year 2027 and a Mining Lease application planned to follow. Barton expects to release a significant volume of outstanding assays and resource updates in the coming months.

DeSoto Resources Given Green Light to Resume Exploration Across Guinea Gold Portfolio

(ASX: DES) DeSoto Resources has received approval to restart drilling and field work at its Timbakouna gold project on the eastern margin of Guinea’s Siguiri Basin in Guinea. Drilling will comprise 485 holes for 10,000 metres across six kilometres of semi-continuous artisanal workings, targeting areas where historical intercepts of up to 18m at 11.8 grams per tonne gold were recorded. The company is one of the largest landowners in the Siguiri Basin, holding the fifth-largest land package by area, with a 1,234-square-kilometre gold portfolio in the mineral-rich Siguiri Basin and Gaoual Gold Belt. DeSoto also plans to conduct a geophysical survey across Timbakouna and the Dadjan, Tolè, Nèrèkoro Sud, Koba, Kassa Est and Mini projects, comprising 6,262-line kilometres flown at 100m spacings, expected to be completed within three weeks. The first systematic campaign included a soil and dump sampling program that collected 820 samples to define coherent gold anomalism and generate first-pass drill targets. The company projects that work is expected to ramp up in the coming weeks with two power auger rigs returning to site and line cutting activities to recommence without the assistance of heavy machinery. Approval follows positive engagement with the government of Guinea against a backdrop of security clampdowns and operational bans targeting illegal and semi-artisanal mining.

Gold Royalty Reports Record Six-Month Results With Continued Strong Cash Flow and Earnings Growth

(NYSE: GROY) Gold Royalty Corp. Revenue for the second quarter of 2026 was $6.7 million, with Total Revenue, Land Agreement Proceeds and Interest increasing by approximately 80% to $7.9 million and GEOs increasing by approximately 31% to 1,757 GEOs compared to the second quarter of 2025. Adjusted EBITDA was $5.6 million (net income of $1.8 million), approximately 137% higher than the same period in 2025, and the company ended the quarter with over $11.3 million of cash, no debt, and a fully undrawn $150 million credit facility. Gold Royalty acquired an additional 0.875% NSR royalty interest over the Ren project for $6.25 million and, subsequent to quarter-end, acquired NSR royalties on the Sterling project and a portion of the Granite Creek mine for $0.8 million, all located in Nevada, USA. The company remains on track to achieve its previously announced annual guidance of 7,500 - 9,300 GEOs in 2026, based on an assumed gold price of $5,150 per ounce and copper price of $5.75 per pound. Portfolio updates include 14,251 GEOs produced at Borborema during Q2 2026, first phase of shaft sinking completed at Odyssey at a depth of 1,586 metres, and Vareš producing approximately 35,000 GEOs in Q2 2026 including 1.3 million pounds copper. The company projects continued volume and cash flow growth and progress at key projects including first production from Ren, construction start at South Railroad, and full production at Vareš.

Blue Jay Gold Provides Drilling Update at Mt Skukum and Skukum Creek

(TSXV:JAY) Blue Jay Gold Corp. provided an update on its ongoing Phase 1 drilling program at the Steller Gold Project in southern Yukon, where two drill rigs are advancing, one at the Mt. Skukum Epithermal Corridor and the other at the Skukum Creek Au-Ag deposit. The company reported that Skukum Creek has seen more than 44,000 metres of drilling and over four kilometres of underground drifting, while the Mt. Skukum corridor has had more than 56,000 metres of drilling between 1982 and 1997. From February 1986 to August 1988, Mount Skukum Gold Mining Corporation processed 233,400 tonnes of mineralized material, recovering approximately 77,790 troy ounces of gold through a 270 tonne-per-day process plant. Blue Jay Gold Corp. disclosed a $112,000 fee (plus applicable goods and services tax, for an aggregate of $117,600) payable to Market One Media Group Inc., and a $100,000 fee (plus applicable taxes) to CanaCom Group, payable in four quarterly installments of $26,250 each. CanaCom Group acquired 100,000 common shares of the company via a private placement that closed on April 8, 2026, and holds 20,100 common shares from the spinout of the company from Riverside Resources Inc. The company states that its 2026 Framework program is designed to better understand the structural characteristics of mineralization zones and to follow up on defined structural extensions to deposits and proximal targets.

Amex Gold Mining Completes Portal Blasting at Perron Site

(TSXV: AMX, OTCQX: AMXEF) Amex Gold Mining Inc. announced the successful completion of all drill and blast activities required for the construction of the bulk sample portal at its Perron development site in northwestern Québec. The completed portal will provide underground access required for the Company's planned 40,000 tonne bulk sample program. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.72 km². When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 570.94 km². The project is located approximately 110 kilometres north of Rouyn-Noranda, Quebec, and is approximately 6.5 km from the Town of Normétal. The Company has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project. The company states that the portal and associated infrastructure are expected to be incorporated into the future commercial mine, subject to receipt of the necessary permits.

Great Atlantic Resources Partner Drills 18.45 Metres of 1.14% Copper, 2.42% Zinc, 16.74 G/t Silver and 0.32 G/t Gold in Upper Lens; 5.42 Meters of 1.99% Copper, 1.66% Zinc, 15.49 G/t Silver and 0.8 G/t Gold in Lower Lens at Pilley's Island Project

(TSXV: GR) Great Atlantic Resources Corp. announced an update on remaining assays received by option partner HM Exploration Corp. (CSE: HM) for drill holes eight (8) to twelve (12) from HM Exploration's Phase One drilling program at Great Atlantic's Pilley's Island Project. HM Exploration holds an option to earn a 100% interest in the project, and the upper lens mineralization has been confirmed over a strike length of approximately 145 m, while the lower lens is confirmed over an approximate strike length of 40 m. Significant assay results include PI-26-008 with 18.45m of 1.14% Cu, 2.42% Zn, 16.74 g/t Ag, and 0.32 g/t Au, and intervals such as 0.71m of 2.25% Cu, 2.27% Pb, 27.3% Zn, 102 g/t Ag, and 2.42 g/t Au. The lower lens returned up to 149 g/t silver and 10.23 g/t gold in 0.82m, and the upper lens returned up to 8.14% copper and 27.3% zinc in 0.57m and 0.71m intervals, respectively. The 2026 Phase One drilling program focused on evaluating the continuity of the mineralized system below known surface showings and along strike of the Clifford Jones (Bull Road) Zone. The company projects that downhole and ground EM surveys are mobilizing soon to support target refinement for 2026 Phase Two drilling, which will test potential extensions of the mineralized system. All reported intervals represent drilled lengths, and true widths of the mineralized intersections are currently unknown.

North America Lithium and Gold Corp. Expands Multi-Commodity Discovery at Midnight Owl With Seven High-Priority Gold Exploration Targets Identified Through Advanced Hyperspectral Refinement

(OTC:NALG) North America Lithium and Gold Corp. announced the completion of the third phase of advanced airborne hyperspectral target refinement at its 100%-owned Midnight Owl Project located within Arizona's historic White Picacho Pegmatite District. The program identified a total of seven priority gold exploration targets, consisting of five discrete Target Points and two larger corridor-scale Target Traverses. The Midnight Owl Project comprises a 5,000-acre land package with 244 lode claims and is located approximately 13 miles east of Wickenburg, Arizona. The company holds a 100% interest in the historic Midnight Owl Mine and is strategically located approximately 170 miles from three major battery gigafactories. The company intends to integrate hyperspectral interpretation with ongoing geological mapping, structural analysis, historical mine data, and geochemical sampling to further prioritize exploration activities. Future work is expected to include geological mapping, surface rock and soil geochemical sampling, ground truth verification, structural mapping, and prioritization of drill targets. The company states that these results significantly strengthen the exploration potential of Midnight Owl and provide a clear roadmap for systematic project advancement.

BRS Resources Ltd. Signs Definitive Agreement to Acquire High-Impact Gold-Silver Concessions in Sonora, Mexico

(CSE: BRS) BRS Resources Ltd. has signed a definitive agreement to acquire high-potential mineral concessions in the Mulatos Gold Belt, located 11 km north of Yécora, Sonora, Mexico. The concessions, including the La Guadalupana and El Señor de los Guerreros claim blocks, cover 1,053 hectares of epithermal gold-silver-copper potential. BRS may earn a 75% interest in the Properties by expending US$5,000,000 in exploration and development over a 5 year period and making a payment of US$5,000,000 at the end of the 5 year period. The company has agreed to pay US$100,000 for the preparation of a NI 43-101 technical report and grant the vendors a 3% net smelter return royalty, with the option to buy-back 2% of the NSR for US$3,000,000. BRS' principal property is the Cowtrail Property, consisting of 32 mineral claims covering 4,400 hectares in south central British Columbia, Canada. The company projects advancing high-resolution drone geophysics and 3D inversion modeling ahead of its drilling campaign. Completion of the acquisition is subject to BRS obtaining all necessary regulatory approvals.

West Point Gold Drills 30.4 M of 2.31 G/t Au at Tyro Main Zone

(TSXV: WPG) (OTCQX: WPGCF) West Point Gold Corp. announced drill results from 18 holes completed at the Tyro Main and adjacent Decimal Hill zones at its flagship Gold Chain Project in Arizona. The results are highlighted by hole GC26-138 (core), which intersected 30.4 metres of 2.31 grams per tonne gold, including a 2.8m void likely representing a historical adit. The 18 holes represent 4,304m of drilling, with the remaining results from the 21,079m drill program representing 603m from the Black Dyke target. Hole GC26-162 (RC) traversed 59.5m (true width 37m) of 0.68 g/t Au at 166.1 to 225.6m. The company plans to resume drilling in mid-September and is well positioned for the Tyro maiden resource, which remains on track to be completed in late Q3 or early Q4 this year. Deeper drilling is guiding efforts to expand the gold zone to depth comparable to the Northeast Tyro Zone, and future drilling will target below the entire 1.2km strike length of the Tyro Main and NE Tyro zones. The company reports widespread anomalous gold values, epithermal vein textures, and alteration observed in some of the deeper holes.

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