First Infill & Expansion Drill Results From The Lucky Strike Zone

VANCOUVER – P2 Gold Inc. reported on the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada. Five of the first eight holes drilled at the Lucky Strike Zone (drill holes GBR-076 to 080) ended in footwall mineralization. A total of 11,500 meters in 70 RC holes are planned for the Lucky Strike Zone as part of the Infill and Expansion Drill Program. On completion of the drilling underway at the Lucky Strike Zone, the RC drill is expected to return to the Sullivan Zone for additional drilling to extend the zone down dip. Results from drilling to date confirm the Mineral Resource model for the Lucky Strike Zone.
Hole GBR-079 intersected 0.47 g/t gold and 0.23% copper over 60.96 meters from 39.62 meters downhole, including 13.72 meters grading 0.89 g/t gold and 0.39% copper starting 47.24 meters downhole and also intersected 0.13 g/t gold and 0.19% copper over 35.05 meters starting 100.58 meters downhole and ending in mineralization. Hole GBR-080 intersected 0.51 g/t gold and 0.30% copper over 54.86 meters starting 27.43 meters downhole, including 15.24 meters grading 0.76 g/t gold and 0.36% copper starting 28.96 meters downhole and also intersected 0.18 g/t gold and 0.11% copper over 54.86 meters starting 82.30 meters downhole and ending in mineralization. Hole GBR-081 intersected 0.53 g/t gold and 0.26% copper over 67.06 meters from 7.62 meters downhole, including 12.19 meters grading 0.84 g/t gold and 0.39% copper starting 35.05 meters downhole and also intersected 0.42 g/t gold and 0.10% copper over 36.58 meters starting 74.68 meters downhole.
The available drill data confirms that the ore controls at Lucky Strike are the same as at the Sullivan Zone where mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in thickness from 20 meters to 60 meters and with the main mineralized body ranging up to 75 meters thick forms a continuous zone with a combined thickness of up to 125 meters thick. There are numerous quartz filled structures that cut across the Lucky Strike zone which come to surface and were exploited historically as narrow, high-grade pits and shallow workings. Where these structures cross the main body of mineralization, they locally develop 2 to 5 meter halos of higher-grade gold and copper mineralization.
Since the start of the Program in October 2025, a total of 51 RC drill holes have been drilled, with 24 holes drilled at the Sullivan Zone and 27 holes drilled at the Lucky Strike Zone. The diamond drill has completed 16 metallurgical and slope stability geotechnical holes to date.
On completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate will be prepared for Gabbs, which is expected to be completed in mid-2026. The updated Mineral Resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is expected to be completed in the fourth quarter of 2026.