P2 drills 54.86 m of 0.71 g/t Au, 0.31% Cu at Gabbs

Mar 4, 2026

2026-03-03 20:33 ET – News Release

Mr. Joseph Ovsenek reports

P2 GOLD INTERSECTS 0.71 G/T GOLD AND 0.31% COPPER OVER 54.86 METRES, INCLUDING 1.28 G/T GOLD AND 0.43% COPPER OVER 22.86 METRES AT LUCKY STRIKE ZONE

P2 Gold Inc. has released results from an additional 10 reverse circulation (RC) drill holes (GBR-082 to GBR-091) drilled at the Lucky Strike zone as part of the infill and expansion drill program at its Gabbs project, located on the Walker-Lane trend in Nevada. A total of 11,500 metres in 70 RC holes is planned for the Lucky Strike zone as part of the infill and expansion drill program. On completion of the drilling under way at the Lucky Strike zone, the RC drill is expected to return to the Sullivan zone for additional drilling to extend the zone downdip. Results from drilling to date confirm the mineral resource model for the Lucky Strike zone.

Drilling highlights

Select drill results (see table 1 for drill results) from holes GBR-082 to GBR-091 drilled at the Lucky Strike zone include:

Hole GBR-088 intersected 0.65 gram per tonne (g/t) gold and 0.32 per cent copper over 68.58 metres from 54.86 metres downhole, including 18.29 metres grading 1.22 g/t gold and 0.64 per cent copper (one sample capped at eight g/t gold) starting 54.86 metres downhole, and also intersected 0.20 g/t gold and 0.11 per cent copper over 27.43 metres starting 123.44 metres downhole, and intersected 0.13 g/t gold and 0.18 per cent copper over 47.24 metres starting 167.64 metres downhole.
Hole GBR-089 intersected 0.71 g/t gold and 0.31 per cent copper over 54.86 metres starting 74.68 metres downhole, including 22.86 metres grading 1.28 g/t gold and 0.43 per cent copper starting 74.68 metres downhole, and also intersected 0.21 g/t gold and 0.15 per cent copper over 45.72 metres starting 164.59 metres downhole.
Hole GBR-091 intersected 0.51 g/t gold and 0.22 per cent copper over 68.58 metres from 47.24 metres downhole, including 22.86 metres grading 0.92 g/t gold and 0.34 per cent copper starting 48.77 metres downhole, and also intersected 0.11 g/t gold and 0.15 per cent copper over 41.15 metres starting 115.82 metres downhole.

The available drill data confirm that the ore controls at Lucky Strike are the same as at the Sullivan zone, where mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite. As with Sullivan, the higher-grade gold and copper at Lucky Strike is at the core of the zone and at restricted halos around subvertical structures. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in thickness from 20 metres to 60 metres and with the main mineralized body ranging up to 75 metres thick forms a zone with a combined thickness of up to 125 metres thick. There are numerous quartz filled structures that cut across the Lucky Strike zone, which come to surface and were exploited historically as narrow, high-grade pits and shallow workings.

The Lucky Strike zone remains open in all directions. Drilling is currently focused on the western half of the zone, which measures approximately 700 metres by 500 metres, as defined by current and historical drilling, and is where the relatively shallow mineralization is hosted. This targeted area is roughly the same size as the Sullivan zone. Based on available current and historical drill data, the Lucky Strike zone has the potential to be significantly larger than the Sullivan zone.

Since the start of the program in October, 2025, a total of 57 RC drill holes have been drilled, with 24 holes drilled at the Sullivan zone and 33 holes drilled at the Lucky Strike zone. The diamond drill has completed 18 metallurgical and slope stability geotechnical holes to date. Assays will continue to be reported over the coming months.

On completion of the infill and expansion drill program, an updated mineral resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter of 2026. The updated mineral resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is expected to be completed in the fourth quarter of 2026.

Qualified person

Ken McNaughton, MASc, PEng, chief exploration officer, P2 Gold, is the qualified person, as defined by National Instrument 43-101, responsible for the Gabbs project. Mr. McNaughton has reviewed, verified and approved the scientific and technical information in this news release.

About P2 Gold Inc.

P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs project on the Walker Lane trend in Nevada, where work to support a feasibility study is under way. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 109,000 ounces gold and 15,000 tonnes copper over a 14.2-year mine life. The Gabbs project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical work is being planned and a water permit is expected in the first quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready.

We seek Safe Harbor.

https://www.p2gold.com/