Gold Bulletin

Thursday, June 4, 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

Freedom Gold Corp. Enters Into Option Agreement to Acquire Four Properties in Nova Scotia and Announces a Private Placement Offering

(CSE: FRDM) Freedom Gold Corp. announced it has entered into a property option agreement on June 4, 2026, with 21Alpha Resources Inc. to acquire a 100% interest in the Blockhouse, Widow Point, Frenchvale, and Westfield properties, all located in Nova Scotia. The Company may earn an initial 51% interest in the Properties by paying $10,000 in cash, issuing 2,500,000 common shares on signing, incurring $250,000 in exploration expenditures by the first anniversary, issuing an additional 1,000,000 common shares by the 18-month anniversary, and incurring a further $350,000 in exploration expenditures and issuing an additional 2,000,000 common shares by the second anniversary. To acquire the remaining 49%, the Company must incur an additional $400,000 in exploration expenditures and issue a further 3,500,000 common shares by the third anniversary, for a total acquisition cost of $10,000 in cash, $1,000,000 in exploration expenditures, and 9,000,000 common shares. The Company has agreed to grant a 2% production royalty on each Property to the Optionor or its nominees. Freedom Gold Corp. also intends to complete a non-brokered private placement of up to 4,166,666 common shares at a price of $0.12 per unit for aggregate gross proceeds of $500,000, with each unit including a warrant exercisable at $0.18 per share for 24 months. The Company projects that proceeds from the Offering will be used for general working capital purposes and that the Offering and Option Agreement remain subject to regulatory approvals, including the approval of the CSE.

Edgemont Shareholder Approval Obtained and Update on Timing of Closing of Transaction With Laiva Gold Inc.

(CSE:EDGM) Edgemont Gold Corp. announced it has received approval from holders representing approximately 54% of its issued and outstanding common shares for its previously announced transaction to acquire all of the issued and outstanding shares of Laiva Gold Inc., constituting a reverse takeover transaction. The approval exceeds the threshold 50% requirement. Edgemont and Laiva expect to complete the Transaction on June 15, 2026. Concurrently, Edgemont will consolidate its share capital on a 3:1 basis, change its name to Laiva Gold Inc., and change its stock symbol to "SISU". The final completion of the Transaction remains subject to final approval of the Canadian Securities Exchange. Upon completion, the resulting issuer will indirectly own the Laiva Mine in Finland, which is an open pit operation with a 6,000 tonnes per day capacity gold plant.

Tristar Gold Closes $10 Million Brokered Private Placement

(TSXV:TSG) TriStar Gold Inc. announced that it has closed its previously announced "best efforts" brokered private placement of units for gross proceeds of C$10,352,530. The Company issued a total of 45,011,000 Units at a price of C$0.23 per Unit, including the full exercise of the Agents' over-allotment option. Each Unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable to acquire one additional common share at an exercise price of C$0.30 per share until June 4, 2028. The Agents received a cash fee of C$621,151.80 and 2,700,660 non-transferable common share purchase warrants exercisable at C$0.23 per share until the Expiry Date. The Compensation Warrants and any common shares issued upon exercise thereof are subject to a four-month hold period expiring on October 5, 2026. The Company intends to use the net proceeds from the Offering to fund exploration and development of the Company's mineral properties, as well as for general working capital. The Offering remains subject to the final approval of the TSX Venture Exchange.

Orestone Expands Francisca Gold - Silver Project to Twenty-Three Square Kilometres and Acquires Important Geophysical Survey Data

(TSXV: ORS) Orestone Mining Corp. announced the expansion of the Francisca Gold-Silver Project with the acquisition of the Francisca II concession for US$104,000 and the purchase of historic geophysical survey data. The Francisca Gold-Silver Project now encompasses twenty three (23) square kilometres of mineral concessions located in Salta Province, northwestern Argentina approximately 80 kilometres northwest of the city of Salta. The mineralized trend now covers a northwest strike length of 1500 metres, with a 1700 metre long by 500 to 700 meter wide IP chargeability anomaly of 7.9 mV/V. Trench T7 was sampled over a length of 72.31 metres with intervals of 36.97 metres grading 0.78 g/t gold with 7.20 g/t silver and 11.72 metres grading 0.58 g/t gold with 4.80 g/t silver, while Trench T8 was sampled over 83.93 metres with intervals of 23.47 metres grading 4.71 g/t gold with 28.54 g/t silver and 11.72 metres grading 1.95 g/t gold with 12.11 g/t silver. The Francisca II concession consists of 14.40 square kilometers and is contiguous with the Francisca I and Flamingo I concessions. The company projects that results from the recent exploration program are being compiled in preparation for a Phase I drilling program. Approximately 15 percent of the 675 sample assays have been reported with the balance anticipated in the coming weeks.

Gold Hunter Resources Awards Drilling and Infrastructure Contract to MCL Drilling of Deer Lake, Newfoundland

(CSE:HUNT, OTCQB:HNTRF) Gold Hunter Resources Inc. announced the awarding of another key contract for its 2026 inaugural drill program at the Great Northern Project, Newfoundland. MCL Drilling will provide diamond drilling services and infrastructure construction support for the Company's inaugural 2026 drill program, which is designed to be up to 10,000 metres of diamond drilling. Equity Exploration Consultants Ltd. has been engaged to manage all exploration activities, and program commencement is anticipated in the coming weeks, with permits already in place to commence drilling once crews and equipment are mobilized to site. The Great Northern Project covers 26,237 hectares and over 35 kilometres of strike length along the Doucers Valley Fault Structure in Newfoundland. Within the Doucers Valley Fault, over 50 kilometres of potential splays and secondary faults with known mineralization and potential for additional mineralization have been identified. The company projects the advancement and execution of the inaugural drill program, contractor selection and mobilization, and the potential for resource growth and new discoveries at the Great Northern Project.

Tiger Gold Intersects 98 M @ 0.9 G/t Au Including 26.7 M @ 1.6 G/t Au at Tesorito

(TSXV: TIGR) Tiger Gold Corp. reported assay results from its ongoing diamond drilling campaign at its Quinchía Gold Project in Colombia's Mid-Cauca gold belt. The company has completed more than 11,350 m of drilling in over 35 holes as part of a broader 20,000-metre drill program, with three diamond drill rigs currently active. Highlights include TSDH-86 intersecting 98 m @ 0.9 g/t Au from 2 m downhole (including 26.7 m @ 1.6 g/t Au), TSDH-85 intersecting 205.5 m @ 0.5 g/t Au from 184 m downhole (including 8 m @ 1.7 g/t Au and 10 m @ 1.2 g/t Au), and QDQDH-26 returning 254 m @ 0.4 g/t Au from 2 m downhole at Dos Quebradas. Tiger has completed more than 6,625 m of drilling over 26 holes at Tesorito and 1,274.65 m of drilling over 3 holes at Dos Quebradas. The company plans to complete up to approximately 5,360 m of additional infill, gap, and extension drilling at Tesorito to support upgrading a significant portion of the current Inferred Mineral Resource to the Indicated category. A report titled Quinchía Gold Project NI 43-101 Technical Report & Preliminary Economic Assessment, Department of Risaralda, Colombia (effective September 18, 2025) was filed on SEDAR+ on December 10, 2025. Additional assay results are pending from drillholes at Tesorito and Ceibal.

Zodiac Gold Announces Non-Brokered Private Placement for up to C$4.025 Million

(TSXV: ZAU) Zodiac Gold Inc. announced an offering of units of the Company on a non-brokered private placement basis for aggregate proceeds of up to C$4,025,000. The Company intends to issue up to 11,500,000 Units at a price of C$0.35 per Unit, with each Unit consisting of one common share and one-half of one common share purchase warrant. Each whole Warrant will entitle the holder to acquire one Common Share for a period of 24 months from the date of issuance at an exercise price of C$0.54 per share. The Warrants are subject to an accelerated expiry provision if the daily volume weighted average trading price exceeds C$0.65 for 30 consecutive trading days, and all securities issued will be subject to a hold period of four months and one day. The net proceeds will be used to expand the drill program at the Todi Gold project, advance exploration across its exploration licenses, and for working capital purposes. The Offering is anticipated to be completed on or about 45 days and may occur in tranches, subject to TSXV approval. The Todi Gold Project covers a 2,316 km2 land package in Liberia, with five drill-ready targets, of which two have been drilled and returned high-grade gold intercepts.

Delta Resources Kicks Off Largest Exploration Program to Date at the Delta-1 Gold Project, Thunder Bay District, Ontario

(TSXV:DLTA) Delta Resources Limited announced the commencement of its largest field exploration program to date at the Delta-1 Gold Project, located in the Shebandowan Greenstone Belt of northwestern Ontario. The 2026 exploration program covers the Company's extensive 340 km² land package and aims to expand and advance the Eureka Gold Deposit, with additional drilling planned later this summer. Initial field activities are focused on the I-Zone / Crayfish Creek Fault sector, approximately 18 kilometres southwest of Eureka, supported by historical drill intercepts such as 3.28 g/t Au over 14.6 m and 4.32 g/t Au over 41 m. Recent channel sampling by Delta Resources in 2024 returned 1.23 g/t Au over 40.6 m, including 2.12 g/t Au over 12 m and 3.39 g/t Au over 5 m, and 2.40 g/t Au over 16.2 m, including 5.54 g/t Au over 5 m. The exploration program is fully funded following the recent closing of a $6,562,610 Charity-flow through financing at $0.245 on May 27, 2026. The Company's anticipated corporate funding requirements over the next three years are further supported by the recent option of its Delta-2 property in Chibougamau, Quebec to Troilus Mining for $8.25M and maintaining a 1% NSR Royalty, which closed on February 17, 2026. The company plans to continue advancing the Eureka Gold Deposit through additional step-out drilling at both Eureka and Shabaqua, complemented by targeted infill drilling ahead of a maiden mineral resource estimate later this year.

Metals Creek Sees Encouraging Visuals in First Two Drill Holes at the Ogden Gold Project

(TSXV: MEK) Metals Creek Resources Corp. announced that the Company has hit visible gold (VG) in the first two drill holes at the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 50/50 Joint Venture with Discovery Silver, with the Company serving as the operator. Highlights from previous drill campaigns include TOG 21-065A which returned a downhole intercept of 9.2 g/t gold over 4.47 meters and TOG 22-74A which returned a downhole intercept of 3.66 g/t gold over 14.66m. Hole TOG-26-75 encountered Visible Gold at 326m, and TOG-22-76 also encountered VG at 304.5m within a zone of quartz flooding over 3.5m. The Ogden Gold Project has over 8km of strike length along the Porcupine-Destor Break and six zones of mineralization identified. Additional mineralization was discovered one kilometer west of TOG, returning an intercept of 5.06 g/t gold over 2.60m, with a follow-up hole returning 4.96 g/t gold over 3.97m and a second zone assaying 1.43 g/t gold over 14.00m. The company projects that assay results will be released as they are received and compiled.

Xali Gold Completes Initial Underground and Surface Sampling Program on the Pico Machay Gold Project in Peru

(TSXV:XGC) Xali Gold Corp. announced the completion of the initial underground and surface rock chip sampling program on its Pico Machay Gold Project in Central Peru. The Program included all accessible underground workings excavated since Aquiline Resources’ 2009 exploration, resource, and feasibility work at Pico Machay and was predominantly within the historical resource area. Underground sampling was completed in three north-south oriented horizontal galleries extending over 21 to 46 metre lengths, one east-west crosscut 34 m in length, and some smaller workings. A total of 197 samples were collected, with 78 from underground and 119 from surface outcrops, and all samples have been submitted to SGS in Lima, Peru for gold and silver analysis. Of the samples, 125 were initially sent to the ALS laboratory in Peru before being moved to SGS for alignment with future Metallurgical testing. The results are expected in approximately two weeks, and the company expects the results to support the preparation of an updated mineral resource estimate, which is expected to form the basis of an updated Preliminary Economic Assessment for Pico Machay. Xali Gold maintains exploration potential as well as two royalty agreements with third parties who have the rights to produce gold and silver from specific areas of the El Oro gold-silver Project in Mexico.

Onyx Gold Extends Argus Gold System With 0.8 G/t Gold Over 70.0 Meters and 0.7 G/t Gold Over 95.0 Meters

(TSXV: ONYX) Onyx Gold Corp. announced new drill results from its fully-funded 110,000-meter drill program at the 100%-owned Munro-Croesus Project, located 75 km east of Timmins, Ontario. The company reported results from 19 drill holes, expanding the Argus gold system to approximately 1.4 km of strike length and more than 500 m vertically, with mineralization remaining open in multiple directions. Highlights include 70.8 m grading 0.8 g/t Au (including 7.0 m grading 3.4 g/t Au) in drill hole MC26-297, and 95.2 m grading 0.7 g/t Au from a 100 m down-plunge step-out in drill hole MC26-303. The Argus West Zone was expanded to 350 m strike length by 125 m width, with notable intercepts such as 32.7 m grading 0.5 g/t Au and 16.2 m grading 1.1 g/t Au. Onyx controls approximately 16 km of the Argus Fault and more than 8 km of the Pipestone Fault corridor, with a total of 159 drill holes totaling ~62,000 m completed to date and approximately 48,000 m still planned for 2026. The company is fully funded with approximately $20 million in cash. Management believes the Argus area may represent a much larger mineralized system than originally recognized and projects that ongoing drilling will continue to unlock the scale and potential of the property.

Big Ridge Gold Corp Commences IP Survey at the Hope Brook Gold Project

(TSXV:BRAU) Big Ridge Gold Corp. announced the commencement of an induced polarization ("IP") survey at the Hope Brook Gold Project ("HBGP"), located on the southwest coast of Newfoundland & Labrador. The IP survey will utilize Wireless Alpha IP TM and will be completed by early July, targeting resistive high sulfidation Au and Cu targets along trend from the Main and 240 Zones. The survey will map anomalies down to 500 meters depth and build on the 2011 and 2023 IP surveys, with real-time data supporting drill targeting when the drill rig mobilizes in mid-June. The Hope Brook Gold Project produced 752,162 ounces of gold from 1987 - 1997, with gold recoveries from milling ranging between a low of 78.8% in 1987 and a high of 85.9% in 1989, and copper flotation producing a concentrate at approximately 22% Cu and 34.3 g/t Au for shipment in 1992. The project hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces, based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and underground resources respectively using a long-term gold price of US$1,750. The current drill planning already includes over 30,000 meters of geotechnical, exploration and infill drilling. The company projects that the IP survey will further delineate targets and support Environmental Assessment and permitting processes, mine planning, and project engineering.

Dryden Gold Intersects 3.24 G/t Gold Over 14.77 Meters Including 1.35 Meters of 29.55 G/t Gold at Gold Rock

(TSXV: DRY) Dryden Gold Corp. announced more high-grade results on the Big Master Gold System at Gold Rock, with the 2026 drill program now expanded to 45,000 meters. Drill highlights include Hole DGR-051 returning 3.24 g/t gold over 14.77 meters, including 29.55 g/t gold over 1.35 meters at Sparrow 88.00 meters from surface, and Hole DGR-052 returning 1.02 g/t gold over 13.50 meters, including 8.88 g/t gold over 1.00 meter at Sparrow 125.00 meters from surface. The company has contracted a second drill rig scheduled for deployment on July 1, and permits at Mud Lake have been submitted with drill targets finalized. The company controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario, with high-grade gold mineralization over 50km of potential strike length. The company projects continuous drilling at Gold Rock throughout 2026 while advancing regional exploration targets across the broader property package.

Verity Resources Reports 97% Gold Recoveries From Metallurgical Testing of Waihi Samples

(ASX: VRL) Verity Resources has reported consistent gold recoveries of up to 96.99% in metallurgical testing of samples from the Waihi deposit within its Monument project in Western Australia. The Monument project has a current resource estimate of 2.5 million tonnes at 1.72 grams per tonne gold for 137,700 ounces (66koz Indicated + 72koz Inferred) at the Korong and Waihi deposits. Both saprock and fresh rock samples at Waihi returned recoveries approaching 97% at a 24-hour leach time, with longer leach times returning incrementally greater results. Cyanide consumption was recorded at 0.51 kilograms per tonne and 0.62kg/t, and lime at 1.45kg/t and 0.50kg/t for saprock and fresh composites respectively. The company reported a similarity in recovery profiles at Korong — which averaged 92.75% across four domain composites — and Waihi (97% across two composites). Verity will now undertake advanced metallurgical testing including comminution work as part of more detailed mining studies. The results are expected to de-risk Monument’s mine development pathway and build confidence in unified conventional processing for both deposits.

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