Great Pacific Gold Commences Drilling High-Grade Surface Targets at Magiabe and Completes Current Kasie Ridge Program

Drilling starts at Magiabe, but no resource or economic data is disclosed.

Risk flags

• ●There is no disclosure of funding, budget, or financial capacity to complete the planned 8,000-metre drilling program, raising uncertainty about the company’s ability to execute on its stated objectives.
• ●All current and historical sampling and drill data are pre-resource and do not constitute a mineral resource or reserve, so there is no basis for economic valuation or project feasibility.
• ●Assay results from the current drilling at both Kasie Ridge and Magiabe are pending, meaning there is no new data to validate the implied potential from historical or surface sampling.
• ●The announcement relies on historical results and early-stage sampling, which may not be representative of the broader deposit or predictive of future drill outcomes, increasing geological risk.

Bottom line

This announcement signals operational progress at the Wild Dog Project, with drilling now underway at Magiabe and recent completion at Kasie Ridge. While the technical data shows high-grade gold and copper in surface and historical samples, no resource estimate, economic study, or financial information is provided. The company's narrative is optimistic and emphasizes potential, but the absence of funding details or committed capital for the 8,000-metre program is a material gap. With all assay results pending and no resource definition, the investment case remains speculative and long-term. For this update to become actionable, the company would need to deliver resource estimates, economic studies, or evidence of funding and near-term value creation. The most important takeaway is that this is an early-stage exploration update with no immediate financial or resource impact.

Announcement summary

(TSXV: GPAC) (OTCQX: GPGCF) Great Pacific Gold Corp. announced the commencement of diamond drilling at the Magiabe Vein target at its flagship Wild Dog Project in East New Britain Province, Papua New Guinea, following the completion of the current drilling program at the Kasie Ridge target. The company has relocated one of its two diamond drill rigs to Magiabe after completing the second Kasie Ridge drill hole. The Main Zone drilling program for the second half of 2026 is targeting approximately 8,000 metres of drilling across the Kavasuki, Magiabe, Mengmut, Morgan and EK targets. The initial Magiabe program comprises up to 11 diamond drill holes for approximately 2,240 metres, with hole depths ranging from approximately 150 to 280 metres. Rock-chip samples from Magiabe West Vein returned up to 137 g/t Au, 76 g/t Ag and 3.97% Cu, while channel sampling returned 8.0 m @ 17.10 g/t Au, 7.63 g/t Ag and 0.67% Cu (18.24 g/t AuEq), including 3.0 m at 45.26 g/t Au, 20.33 g/t Ag and 1.78% Cu (48.3 g/t AuEq). Historical trenching and drilling on the main Magiabe Vein returned up to 4.2 m @ 10.93 g/t Au, 1.6 m @ 23.0 g/t Au, 5.2 m @ 6.8 g/t Au and 4.4 m @ 9.23 g/t Au with 37.9 g/t Ag. The company expects to release a comprehensive Kasie Ridge update, including multi-element geochemistry and X-ray diffraction mineralogical analyses, once results are available.

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