Talamore Reports Additional High-Grade Assays from Supremo Extension

High-grade drill results at Supremo Extension support resource upgrade potential at Coffee Gold.

What the company is saying

Talamore Mining Corporation is highlighting assay results from 40 new drill holes at its Coffee Gold project in Yukon, with a focus on the higher-grade Supremo Extension zone. The company frames these results as confirmation of grade, continuity, and resource growth potential, emphasizing that some intercepts exceed current resource grades and extend beyond the existing pit limits. Tim Warman, President and CEO, asserts that these results reinforce Supremo Extension's importance for the upcoming Feasibility Study and a future construction decision. The release details that 5,250 metres of a planned 25,000-metre infill program at Supremo Extension have been completed, as part of a broader 40,000-metre campaign. The company also notes that infill and expansion drilling has begun at other zones and outlying targets, and that a Feasibility Study is underway. The tone is confident, with technical detail provided to support the narrative of resource upgrade and project advancement.

What the data suggests

The disclosed data show that 40 holes, comprising 38 reverse circulation and 2 diamond drill holes, totaling 5,250 metres, have been completed at Supremo Extension, which is part of a larger 40,000-metre program. Supremo Extension currently hosts an Indicated Resource of 2,437 kt at 1.18 g/t gold for 92,000 ounces and an Inferred Resource of 6,059 kt at 1.72 g/t gold for 335,000 ounces, with the Inferred grade notably higher than the overall project average of 1.15 g/t Au. Drilling highlights include 9.72 g/t Au over 7.2 m, 9.68 g/t Au over 3.9 m, and 6.26 g/t Au over 5.8 m true width, among others, indicating zones of materially above-average grade. The broader Coffee Gold project has a Measured + Indicated Resource of 80,046 kt at 1.15 g/t for 2,957 koz, and an Inferred Resource of 21,200 kt at 1.17 g/t for 800 koz. Economic parameters used in resource modeling include a gold price of US$2,500/oz, heap leach recoveries ranging from 31.4% to 86.3% by domain, mining costs of C$3.27–$3.50/t, processing cost of C$6.64/t, and G&A of C$6.0/t. The infill drilling is intended to upgrade Inferred to Indicated resources for the Feasibility Study, but no new resource estimate or economic study is yet provided. The technical disclosures are detailed and specific, but the actual impact on project economics remains to be demonstrated in future studies.

Analysis

The announcement provides detailed and credible technical results from infill and exploration drilling at the Coffee Gold project, including specific assay results, resource estimates, and economic parameters. The tone is positive and emphasizes the potential for resource upgrades and project advancement, but most of the key claims about future value (resource upgrades, feasibility study inclusion, and project growth) are forward-looking and contingent on further work. While the technical data is robust and appropriate for an exploration-stage update, the benefits to shareholders (such as a construction decision or production) remain long-term and are not imminent. There is no evidence of overstatement regarding capital outlay, as the release focuses on drilling progress rather than major spending or project build. However, the language around resource growth potential and future upgrades is somewhat promotional relative to the current stage, as no new resource upgrade or economic study has been completed yet.

Risk flags

• ●Resource upgrade and project advancement depend on successful conversion of Inferred to Indicated resources and positive outcomes from the Feasibility Study. If future drilling or studies do not confirm continuity or grade, the project's economic case could weaken.
• ●The economic parameters used in the resource estimate, such as a gold price of US$2,500/oz and heap leach recoveries up to 86.3%, may not reflect future market or operational realities. If actual gold prices or recoveries are lower, project economics could be adversely affected.
• ●Operational risks remain in completing the remaining infill and exploration drilling, as well as in receiving and interpreting pending assay results. Delays or negative results could impact the timeline and confidence in resource upgrades.
• ●There is no disclosure of current cash position, funding for ongoing drilling, or financial health, leaving uncertainty about the company's ability to sustain the full exploration and study program through to a construction decision.
• ●The Feasibility Study is still underway, and its results will be critical in determining whether the project advances toward development. Until that study is complete and demonstrates robust economics, the project's future remains uncertain.

Bottom line

Talamore Mining's latest drilling at Supremo Extension delivers high-grade gold intercepts that support the case for upgrading resources at the Coffee Gold project. The technical results are detailed and credible, with grades and widths that exceed the project's current average and could positively impact the upcoming Feasibility Study. However, the actual economic impact is still unproven, as no updated resource estimate or feasibility-level economics are yet available. The company must still complete additional drilling, receive pending assays, and finalize the Feasibility Study before any construction decision is possible. Investors should watch for the publication of an updated resource estimate and the results of the Feasibility Study as the next material catalysts. The most important takeaway is that while the drill results are promising, the pathway to value realization remains dependent on successful resource conversion and robust feasibility outcomes.

Announcement summary

(TSX:TALA) (OTCQB:TALMF) Talamore Mining Corporation reported results from 40 drill holes as part of its ongoing 40,000-metre infill and exploration drilling program at the wholly-owned Coffee Gold project in Yukon, Canada. The current drilling targets the higher-grade Supremo Extension zone, which hosts an Indicated Resource of 2,437 kt at 1.18 g/t gold for 92,000 ounces and an Inferred Resource of 6,059 kt at 1.72 g/t gold for 335,000 ounces. The Inferred grade at Supremo Extension is higher than the overall project resource grade of 1.15 g/t Au. The release includes assays from 38 reverse circulation and 2 diamond drill holes totaling 5,250 metres of a planned 25,000 metres of infill drilling at Supremo Extension. In total, 298 drill holes have been completed for approximately 46,172 metres through September, with results for 140 holes totaling 19,014 metres released to date. Drilling highlights include 9.72 g/t Au over 7.2 m ETW (hole 26-SPX-RC135), 9.68 g/t Au over 3.9 m ETW (hole 26-SPX-RC111), 6.26 g/t Au over 5.8 m ETW (hole 26-SPX-RC127), 4.04 g/t Au over 15.2 m ETW (hole 26-SPX-RC123), 2.41 g/t Au over 20.0 m ETW (hole 26-SPX-RC122), and 1.53 g/t Au over 23.0 m ETW (hole 26-SPX-RC057). The infill drilling program aims to upgrade resources for inclusion in the Feasibility Study currently underway. The Coffee Gold project consists of multiple mineralized structural zones, with the Supremo Extension at the intersection of a steeply dipping high-grade structure and a shallower east-dipping zone. Hole 26-SPX-RC135 encountered higher than expected grade and may add mineralization within the current resource pit, with mineralization open at depth. Assays are pending for additional holes on this section. Hole 26-SPX-RC123 expands higher grade material towards the surface and shows strong grades at depth, predominantly sulphide in nature. Hole 26-SPX-RC127 confirms the resource model and shows good grade at the base of the pit, potentially supporting pit expansion. Hole 26-SPX-RC122 confirms near-surface grade and width, with assays pending for a deeper hole. Hole 26-SPX-RC057 adds better grade and width to the shallow-dipping vein. Infill and/or expansion drilling has also started on the Supremo and Latte zones, as well as testing outlying targets including Sugar and Konnexion. The current open-pit mineral resource estimate for Coffee Gold is: Measured 1,200 kt at 1.80 g/t for 69 koz, Indicated 78,846 kt at 1.14 g/t for 2,888 koz, Measured + Indicated 80,046 kt at 1.15 g/t for 2,957 koz, and Inferred 21,200 kt at 1.17 g/t for 800 koz. Economic parameters used in the resource include a gold price of US$2,500/oz, heap leach recoveries of 86.3% (Oxide), 76.0% (Upper Transition), 54.5% (Middle Transition), and 31.4% (Lower Transition), mining cost of C$3.27-$3.50/t, processing cost of C$6.64/t, G&A cost of C$6.0/t, and a CAD:USD exchange rate of 1.35. The global weighted average cut-off grade is 0.18 g/t Au, with domain tonnage contributions of 64% Oxide, 18% Upper Transition, 5% Middle Transition, and 13% Lower Transition. Pit slope angles vary between 45.0 and 48.8 degrees. The resource estimate is based on the NI 43-101 Technical Report for the 2025 Mineral Resource Estimate Update prepared for Fuerte Metals Corporation by Micon International, effective August 21, 2025, and issued October 6, 2025. Qualified Persons for the estimate are Alan J. San Martin, P.Eng. and Charley Murahwi, P.Geo. from Micon International Limited. Tim Warman, President and CEO of Talamore Mining, stated that the results confirm grade, continuity, and resource growth potential at Supremo Extension, with some results extending beyond the existing resource pit.

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