Karus Hits 14.6 Metres of 4.8g/t Gold in First Two of 11 Holes Testing High-Grade Structural Controls at FG Gold Project

Karus Mining reports high-grade gold intercepts from initial 2026 FG Gold drilling.

What the company is saying

Karus Mining Inc. (CSE:KARU) is announcing the first assay results from its 2026 diamond drilling program at the FG Gold Project, part of its 100%-owned South Cariboo Gold District in British Columbia. The company highlights intercepts such as 4.80 g/t gold over 14.55 metres and 32.40 g/t gold over 1.00 metre in hole FG-26-412, and 13.35 g/t gold over 0.65 metre in FG-26-411, framing these as evidence of high-grade mineralization and validation of its geological model. President and CEO Chris Donaldson describes the results as a strong start, emphasizing the continuity of mineralization and the potential for significant growth at FG Gold. The narrative stresses the program’s focus on expanding a structurally controlled vein corridor, with results interpreted as supporting the SHV (Sediment-Hosted Vein) model and the corridor’s extension. The company notes that drilling concluded in late September with 11 holes totaling 3,944.3 metres, and that all core logging, sampling, and cutting is complete. Karus will release further assay results as they are received and interpreted in the coming weeks.

What the data suggests

The results from the first two holes of the 2026 program show high-grade gold mineralization: FG-26-412 returned 4.80 g/t Au over 14.55 m (including 32.40 g/t Au over 1.00 m at 208.50 m), and 6.59 g/t Au over 3.05 m at 217.80 m; FG-26-411 returned 13.35 g/t Au over 0.65 m at 201.20 m and 11.55 g/t Au over 0.80 m at 208.60 m. Additional intercepts include 7.00 m at 1.14 g/t Au (including 3.05 m at 1.95 g/t), 9.00 m at 0.70 g/t Au (including 0.50 m at 5.33 g/t), and several other intervals above 1 g/t Au. True widths are not yet confirmed but are estimated at 70%–90% of core length. The 2026 drilling program completed 11 holes for 3,944.3 metres, with only initial results disclosed; further assays are pending. The FG Gold Project sits within a 1,000 km² land package, with known mineralized strike exceeding 3 km and a structural trend of 25 km, but the current results pertain to a corridor of approximately 650 metres that remains open. QA/QC procedures and independent review by a qualified person are in place. No resource estimate, tonnage, or economic analysis is provided at this stage, and the results are consistent with early-stage exploration focused on defining and expanding high-grade zones.

Analysis

The announcement provides detailed, specific assay results from the first two holes of the 2026 drilling program at FG Gold, with all intercepts, grades, and intervals clearly disclosed. The language is proportionate to the evidence: the company reports what has been drilled and assayed, and notes that further results will be released as they are received. There is no exaggerated projection of future value or resource size, and no claims of economic viability or production. The only forward-looking statements are procedural (future assay results to be reported), and the technical data is reviewed by a qualified person under NI 43-101. No large capital outlay or long-dated benefit is claimed, and the update is strictly operational. The gap between narrative and evidence is minimal, with no hype or inflation detected.

Risk flags

• ●The disclosed results are from only two of eleven holes, so the overall success of the 2026 program remains uncertain until all assays are received and interpreted. This limits immediate visibility into the continuity and scale of mineralization.
• ●True widths of intercepts are not yet confirmed and are only estimated at 70%–90% of core length, introducing uncertainty about the actual thickness and volume of mineralized zones.
• ●No resource estimate, metallurgical data, or economic analysis is provided, so the economic viability of the FG Gold Project remains untested and subject to future technical and market risks.
• ●The project is still at the drill-stage, with further exploration, permitting, and development hurdles ahead before any production scenario can be considered.

Bottom line

Karus Mining’s initial 2026 drill results at FG Gold deliver high-grade gold intercepts, supporting the company’s geological model and the potential for expanding a structurally controlled vein corridor. The results are technically robust, with detailed intervals and grades, but represent only a fraction of the total drilling completed—most assays are still pending. The absence of a resource estimate or economic study means investors cannot yet assess the project’s ultimate scale or viability. Near-term catalysts will be the release of further assay results over the coming weeks. The most important takeaway is that while these early results are encouraging, the investment case will depend on whether subsequent holes confirm continuity and scale sufficient for a resource estimate.

Announcement summary

(CSE:KARU) Karus Mining Inc. announced initial drill assay results from its 2026 diamond drilling program at the FG Gold Project, part of the company's South Cariboo Gold District in British Columbia. The 2026 exploration program is focused on expanding high-grade mineralization at FG Gold, which hosts over 3 km of known mineralized strike within a 25 km long structural trend. Highlights from the first two diamond drill holes include 4.80 g/t Au over 14.55 m at 208.50 m down hole in hole FG-26-412, including 32.40 g/t Au over 1.00 m at 208.50 m, and 6.59 g/t Au over 3.05 m at 217.80 m. In hole FG-26-411, results include 13.35 g/t Au over 0.65 m at 201.20 m and 11.55 g/t Au over 0.80 m at 208.60 m. Additional intercepts in FG-26-411 include 7.00 m at 1.14 g/t Au (including 3.05 m at 1.95 g/t), and 9.00 m at 0.70 g/t Au (including 0.50 m at 5.33 g/t). In FG-26-412, further results include 3.05 m at 4.64 g/t Au, 3.05 m at 6.59 g/t Au, 3.75 m at 2.88 g/t Au, and 12.25 m at 0.70 g/t Au (including 1.50 m at 1.00 g/t and 2.75 m at 1.29 g/t). True widths are unknown but estimated to be 70% - 90% of intercepted core width. Drilling concluded in late September with 11 holes completed for a total of 3,944.3 metres. Core logging, sampling, and cutting of all drill holes has been completed, and the company will report further assay results once received, compiled, and interpreted. The FG Gold Project is a drill-stage gold project within Karus Mining's 100%-owned South Cariboo Gold District, which covers about 1,000 km² of mineral claims in central British Columbia. The project hosts sediment-hosted vein gold mineralization within deformed sedimentary rocks folded around the northwest-trending Eureka Syncline. Drilling in 2020 and 2021 found two structurally controlled vein corridors, each extending about 650 metres along strike and remaining open to the northwest. Previous highlights included hole FG-20-377, which returned 31.4 metres grading 3.0 g/t gold, and FG-21-406, which returned 116.2 meters grading 0.6 g/t gold. The 2026 program is designed to test the sediment-hosted vein model and extend the deeper of these two known high-grade corridors. Quality assurance and quality control procedures included insertion of blanks, preparation duplicates, field duplicates, and standard reference materials, with sample shipments conducted under a chain of custody procedure. Drill core samples were submitted to ALS Geochemistry in Kamloops and analyzed in North Vancouver, with primary analysis for gold by fire assay of a 50 g aliquot with atomic absorption finish, and gravimetric analysis for assays greater than 10 ppm. ALS Geochemistry is accredited to the ISO/IEC 17025 standard for gold assays. Technical information in the release was reviewed and approved by Dave Swanton, MSc, PGeo, Principal Geologist, Equity Exploration Consultants Ltd, and Karus Mining's qualified person under NI 43-101. Chris Donaldson is President and CEO of Karus Mining.

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