StrikePoint Gold Commences Drilling at Northumberland Gold Project

StrikePoint has begun a 15,000-meter drill program at its 100%-owned Northumberland project.

What the company is saying

StrikePoint Gold Inc. is announcing the start of drilling at the Northumberland Gold Project, emphasizing the operational milestone of mobilizing NISS Global to provide a core rig for the initial phase. The company frames this as an opportunity to expand and upgrade its mineral resource, highlighting infill drilling to increase confidence in the current estimate and metallurgical sampling for optimization. The release stresses that Northumberland is a 100%-owned flagship asset in Nevada's Walker Lane, with a substantial existing resource: 2.86 million indicated gold equivalent ounces at 1.33 g/t AuEq and 1.57 million inferred gold equivalent ounces at 1.58 g/t AuEq, as of July 31, 2026. CEO Michael G. Allen is quoted to reinforce the intent to both upgrade resource confidence and explore new targets, with additional rigs planned for early 2027. The company underscores that the Phase 1 program is fully permitted and located on private property, projecting confidence in execution. Technical data is attributed to independent Qualified Person Hebert Oliveira, B.Sc., P.Geo., at SLR, lending credibility to the resource estimate.

What the data suggests

The disclosed figures show Northumberland hosts 67,008 kt indicated at 1.26 g/t Au and 5.38 g/t Ag (2,709,000 oz Au, 11,599,000 oz Ag, 2,857,000 oz AuEq) and 30,967 kt inferred at 1.53 g/t Au and 4.28 g/t Ag (1,519,000 oz Au, 4,260,000 oz Ag, 1,568,000 oz AuEq). The resource estimate uses a gold price of US$3,500/oz and silver at US$55/oz, with variable cut-off grades from 0.16 to 0.47 g/t AuEq depending on oxidation and preg-robbing values. Metallurgical recoveries are assumed at 75% for oxide, 90%/70% for fresh low PRV, 80%/60% for medium PRV, and 60%/40% for high PRV (Au/Ag). Mining costs are US$2.12/t mined, G&A US$1.35/t milled, processing US$12/t (oxide) and US$30/t (sulphide), with a pit slope of 45° and bulk density of 2.6 t/m3. The Phase 1 drill program is 15,000 meters, fully permitted, and will add rigs in early 2027. There are no mineral reserves yet. The technical disclosure is comprehensive for an exploration-stage update, with independently prepared resource estimates and clear economic assumptions, but no new drill results or economic studies are provided at this stage.

Analysis

The announcement is proportionate in tone, focusing on the commencement of drilling at the Northumberland Gold Project and providing detailed, independently prepared mineral resource estimates. The majority of claims are realised and supported by specific technical data, including resource tonnages, grades, and economic assumptions. Forward-looking statements are limited to the intended goals of the drilling program (resource expansion, infill, metallurgical sampling) and the plan to add more rigs, but these are standard for an exploration-stage update and not exaggerated. There is no overstatement of imminent production or economic returns, and the language does not inflate the significance of the current milestone. The capital intensity is not flagged, as the disclosure pertains to a planned drill program rather than a major capex commitment. Overall, the gap between narrative and evidence is minimal, with the company providing a factual operational update.

Risk flags

• ●Resource expansion and upgrade depend entirely on the outcome of the current and planned drilling, with no guarantee that infill or step-out holes will convert inferred to indicated resources or expand the resource base. The absence of current drill results means the impact on resource confidence or scale is unproven.
• ●The resource estimate is based on high gold (US$3,500/oz) and silver (US$55/oz) price assumptions, which are above long-term historical averages. If metal prices fall materially below these levels, the economic viability and size of the resource at the stated cut-offs could be reduced.
• ●There are no mineral reserves at Northumberland, meaning the project has not yet demonstrated economic viability through engineering studies or permitting beyond the current drill program. Advancing to a development decision will require successful drilling, metallurgical work, and further technical studies.
• ●Execution risk exists in scaling up the drill program, including the timely mobilization of additional rigs and successful completion of the planned 15,000 meters, as well as potential delays from technical, logistical, or permitting challenges outside the currently permitted area.
• ●The project’s future depends on continued access to capital to fund ongoing exploration and technical work, as no revenue or cash flow is expected until much later stages.

Bottom line

StrikePoint Gold has started a 15,000-meter, fully permitted drill program at its 100%-owned Northumberland project in Nevada, targeting both resource expansion and increased confidence in its 2.86 million ounce indicated and 1.57 million ounce inferred gold equivalent resource. The technical disclosure is robust, with resource estimates prepared by an independent Qualified Person and detailed cost, recovery, and price assumptions. The project remains at the exploration stage, with no mineral reserves or economic studies yet, and the impact of drilling will only be known once results are released. Key risks include reliance on high gold and silver price assumptions, the absence of reserves, and the need for further capital and technical success to advance the project. Investors should focus on upcoming drill results and subsequent resource updates as the main catalysts. The most important takeaway is that the operational groundwork is now in place, but tangible value creation will depend on the quality and scale of new drill intercepts.

Announcement summary

(TSXV:SKP) (OTCID:STKXF) StrikePoint Gold Inc. has commenced drilling at the Northumberland Gold Project. NISS Global has been mobilized to provide a core rig for the initial phase of drilling at Northumberland. The initial drilling phase aims to expand the mineral resource, conduct infill drilling, and collect metallurgical samples across the Carlin-style gold system. Northumberland hosts a mineral resource of 2.86 million gold equivalent ounces grading 1.33 g/t AuEq in the indicated category and an additional 1.57 million gold equivalent ounces grading 1.58 g/t AuEq in the inferred category, as of July 31, 2026. The first phase of drilling is planned to cover approximately 15,000 meters. Additional drilling rigs are scheduled to be added early in the New Year. The Phase 1 drill program is situated on private property and is fully permitted. The Northumberland Gold Project is 100%-owned by StrikePoint and is located in Nevada's Walker Lane. StrikePoint also owns the Hercules and Cuprite Gold Projects in Nevada. Michael G. Allen, President and CEO of StrikePoint, stated that the infill drilling is intended to upgrade confidence in the current mineral resource estimate and provide new samples for metallurgical optimization. The current mineral resource estimate was prepared by Mr. Hebert Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR, as an independent Qualified Person under NI 43-101. The mineral resource estimate incorporates revised price, cost, and technical assumptions over historical estimates and follows CIM (2019) and CIM (2014) guidelines and definitions. Metallurgical recoveries are assumed as follows: oxide material at 75% for both Au and Ag; fresh, low PRV material at 90% Au and 70% Ag; fresh, medium PRV material at 80% Au and 60% Ag; fresh, high PRV material at 60% Au and 40% Ag. Gold Equivalent (AuEq) is calculated as Au(g/t) + (Ag(g/t) x (Ag price x Ag recovery / Au price x Au recovery)). Mineral resources are estimated at variable AuEq cut-off grades based on long-term prices of US$3,500 per gold ounce and US$55 per silver ounce, with cut-offs of 0.16 g/t (oxide), 0.31 g/t (fresh, low PRV), 0.35 g/t (fresh, medium PRV), and 0.47 g/t (fresh, high PRV). The resource is reported within an optimized pit shell using pit slope angles of 45°, mining costs of US$2.12/t mined, G&A costs of US$1.35/t milled, processing costs of US$12/t milled (oxide) and US$30/t milled (sulphide), and an in situ bulk density of 2.6 t/m3. There are no mineral reserves at Northumberland. The effective date of the mineral resource estimate is July 31, 2026. Michael G. Allen, P.Geo., President and CEO, is the qualified person who reviewed and approved the technical data in the release.

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