Loyalist Exploration Files Technical Report for Tully Gold Project's 2026 Mineral Resource Estimate

Toronto, Ontario — August 21, 2026 — Leads & Copy — Loyalist Exploration Limited announced that the independent Technical Report supporting the 2026 Mineral Resource Estimate (MRE) for its 100%-owned Tully Gold Project has been filed on the Company’s SEDAR+ profile. The project is located in the Timmins Gold Camp of northeastern Ontario.

The Technical Report, titled “NI 43-101 Technical Report and Mineral Resource Estimate, Tully Gold Project, Timmins, Ontario, Canada,” was prepared by Charles Spath, M.Sc., P.Geo., and Eugene Puritch, P.Eng., FEC, CET, of P&E Mining Consultants Inc. Both are independent Qualified Persons as defined by NI 43-101. The report has an effective date of June 15, 2026, and a report date of August 21, 2026. It was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and the CIM Definition Standards for Mineral Resources and Mineral Reserves.

On July 7, 2026, Loyalist announced its 2026 MRE for the Tully Gold Project, also prepared by P&E Mining Consultants Inc. The MRE establishes a 164,000-ounce Indicated Mineral Resource (1.62 million tonnes at 3.16 g/t Au) and a 62,000-ounce Inferred Mineral Resource (0.95 million tonnes at 2.03 g/t Au). Approximately 73% of the contained gold is classified as Indicated, signifying an increase in geological confidence.

The MRE reports Indicated resources of 1,620,000 tonnes at a grade of 3.16 g/t Au, containing 164,000 ounces of gold, with an effective date of June 15, 2026. The Inferred resources are reported at 948,000 tonnes at a grade of 2.03 g/t Au, containing 62,000 ounces of gold. The cut-off grade for both categories is 1.1 g/t Au.

Notes accompanying the resource estimate clarify that Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate could be materially affected by various issues, though no specific problems have been identified yet. The Inferred Mineral Resource Estimate has a lower confidence level and must not be converted to a Mineral Reserve, though it is reasonably expected that the majority could be upgraded to Indicated with continued exploration. The estimates were prepared according to CIM Definition Standards and Best Practice Guidelines. The Qualified Persons are not aware of any known issues that could materially affect the MRE. The estimate is based on a cut-off grade of 1.1 g/t Au for a conceptual underground Deswik™ Stope Optimizer extraction scenario, considering specific mining, processing, G&A costs, recovery rates, a gold price of US$3,500 per ounce, and a minimum stope width. All prices and costs are in Canadian dollars unless otherwise stated. Numbers are rounded to reflect accuracy.

The geological model indicates a larger, more continuous underground gold system with improved geometry that could support underground stopes potentially approaching 20 metres in width. Mineralization remains open along strike and at depth, suggesting significant potential for resource expansion through additional drilling.

The 2026 MRE incorporates modern 3D geological modelling, refined mineralized domains, one-metre compositing, domain-specific grade capping, ID³ interpolation, and comprehensive model validation. This model increases the Indicated Mineral Resource from 93,140 ounces in the 2008 historical estimate to 164,000 ounces, an increase of 76%.

The Technical Report was independently prepared by P&E Mining Consultants Inc., with Charles Spath and Eugene Puritch serving as independent Qualified Persons under NI 43-101. The scientific and technical information in the news release has been reviewed and approved by Curtis Ferron, P.Geo. (Ontario), principal geological consultant to Loyalist Exploration Limited, and Eugene Puritch, P.Eng., FEC, CET, president of P&E, both independent Qualified Persons under NI 43-101.

Loyalist Exploration Limited is a Canadian mineral exploration and development company focused on advancing high-quality mineral projects in the Timmins, Ontario area. The Company’s flagship 100%-owned Tully Gold Project is described as a growing underground gold project with significant exploration upside and development potential. Loyalist's strategy involves systematically advancing the Tully Gold Project towards production while growing the deposit and evaluating opportunities to expand its portfolio. The Company also plans to advance exploration activities on its DeSantis, Gold Rush, and Loveland projects in Timmins. Loyalist is committed to technical excellence and responsible development.

Source: Loyalist Exploration Limited