AuMEGA Metals Completes Initial Drilling at New Targets

AuMEGA Metals Ltd, a gold exploration company based in Toronto, Ontario, has completed its initial diamond drilling program at the Isle aux Morts Granite and Cape Ray West in Newfoundland and Labrador, Canada. The program, which was the first of its kind into the Isle aux Morts Granite, aimed to test multiple geological concepts, including structurally controlled gold mineralization and the potential for an intrusion-related magmatic-hydrothermal system. The initial program involved nine holes, totaling approximately 2,087 meters drilled, with two holes extending to depths of 351 meters and 372 meters into the intrusive core of the granite.

The drilling program tested targets within the intrusive core, along its western flank, and across the interpreted contact between the granite and surrounding sedimentary rocks. The Company has mobilized its drill rig to Bunker Hill, where it will continue to test a pipeline of high-priority gold and polymetallic targets across this expansive and underexplored project area. The exploration drilling at Bunker Hill will focus on three main target areas: the Southeast Base Metals Target, the Branch Fault Corridor, and Bunker Hill West.

The Southeast Base Metals Target is defined by an east-north-east striking high-tenor lead anomaly coincident with silver, copper, and zinc till anomalism. The Branch Fault Corridor target is associated with a prominent second-order fault corridor containing demagnetized fault jogs and splays, with coincident zones of magnetic destruction, anomalous gold, and base metals in till, and mapped chalcopyrite-bearing quartz veins at surface. The Bunker Hill West target is characterized by prominent structural disruption, demagnetization, and fault splays associated with the northwest-southeast structural corridor.

The Company is now awaiting laboratory assay results, which are expected to be received progressively over the coming weeks. These results will be integrated with the Company's geological, geophysical, and geochemical datasets to refine the next phase of drilling. In the meantime, the drill rig has moved to Bunker Hill, where additional drilling will be conducted to test the pipeline of high-priority gold and polymetallic targets across the expansive and underexplored project area.

AuMEGA Metals Ltd, a district-scale exploration company, has been exploring the Cape Ray Shear Zone for several years. The company's portfolio includes several dozen high-potential targets, as well as an existing gold Mineral Resource of 6.2 million tonnes grading an average of 2.25 g/t gold, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes grading an average of 1.44 g/t gold, totaling 160,000 ounces in Inferred Resources. The company is supported by a diverse shareholder registry of prominent global institutional investors, including Condire Investors LLC, and strategic investment from B2Gold Corp, a significant, intermediate gold producer.

AuMEGA Metals Ltd is committed to exploring its extensive land package, which spans 110 kilometers along the Cape Ray-Valentine Shear Zone, a significant under-explored geological feature recognized as Newfoundland's largest identified gold structure. The Cape Ray Shear Zone currently hosts Equinox Gold's Valentine Gold Project, a multi-million-ounce deposit that is the region's largest gold project, along with AuMEGA's Mineral Resource. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure.

The Company's exploration activities are supported by the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. The company's exploration efforts are guided by a diverse team of geologists and exploration managers, including Giles Dodds, the Exploration Manager, who is a Member of the Australian Institute of Geoscientists and a Professional Geologist registered with Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL).